Consolidated Financial Results
Supplementary Information
for the Nine-months Ended December 31, 2021
ORIX Corporation
(NYSE: IX; TSE: 8591)
February 7, 2022
Contents
Page | |||
1 | Financial Highlights | : Financial Highlights, Key Ratios, Per Share Data and Employees | |
2 | Segment Information | : Segment Profits, Assets and ROA | |
3 | Segment Asset Details | : Assets by Segment | |
4-5 | Corporate Financial Services and Maintenance Leasing (1) (2) | : Segment Revenues, Profits and Assets | |
6-7 | Real Estate (1)(2) | : Segment Revenues, Profits and Assets | |
8-9 | PE Investment and Concession (1) (2) | : Segment Revenues, Profits and Assets | |
10-11 | Environment and Energy (1) (2) | : Segment Revenues, Profits and Assets | |
12-13 | Insurance (1) (2) | : Segment Revenues, Profits and Assets | |
14-15 | Banking and Credit (1) (2) | : Segment Revenues, Profits and Assets | |
16-17 | Aircraft and Ships (1) (2) | : Segment Revenues, Profits and Assets | |
18-19 | ORIX USA (1) (2) | : Segment Revenues, Profits and Assets | |
20-21 | ORIX Europe (1) (2) | : Segment Revenues, Profits and Assets | |
22-23 | Asia and Australia (1) (2) | : Segment Revenues, Profits and Assets | |
24 | Key Quarterly Financial Information (1) | : Income Statement Data, Yields on Assets | |
25 | Key Quarterly Financial Information (2) | : Balance Sheet Data, Key Exchange Rate | |
26 | Information Regarding Major Assets (1) | : New Business Volumes, Net Investment in Leases & Installment Loans | |
27 | Information Regarding Major Assets (2) | : Operating Leases & Asset Quality (Net Investment in Leases & Installment Loans) | |
28 | Information Regarding Major Assets (3) | : Allowance for Credit Losses, Provision for Credit Losses | |
29 | Information Regarding Major Assets (4) | : Investment in Securities | |
30 | Funding (1) | : Funding, Share of Long-Term Debt, Funding Structure & Funding Costs (including Deposits) | |
31 | Funding (2) | : Commitment Lines, Liquidity & Credit Ratings | |
This document has been prepared based upon quarterly financial information in accordance with U.S. GAAP. | |||
For annual and more historical data please access our website. | |||
IR Website URL: | https://www.orix.co.jp/grp/en/ir/ | ||
IR Library URL: | https://www.orix.co.jp/grp/en/ir/library/ |
Disclaimer
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and those described under "Business Risk" of the securities report (Yukashoken houkokusho) filed with the Director of the Kanto Local Finance Bureau and financial results filed to Tokyo Stock Exchange.
ORIX Corporation
Investor Relations and Sustainability Department
World Trade Center Bldg. SOUTH TOWER, 2-4-1Hamamatsu-cho,Minato-ku
Tokyo 105-5135, Japan
Tel: +81-3-3435-3121
(Unaudited) | ||||||||||||
Financial Highlights | ||||||||||||
(Millions of yen) | ||||||||||||
Financial Highlights | 2019.4-2020.3 | 2020.4-6 | 2020.7-9 | 2020.10-12 | 2020.4-12 | 2021.1-3 | 2020.4-2021.3 | 2021.4-6 | 2021.7-9 | 2021.10-12 | 2021.4-12 | |
Total Revenues | 2,280,329 | 537,641 | 547,097 | 580,956 | 1,665,694 | 627,014 | 2,292,708 | 608,813 | 632,721 | 626,579 | 1,868,113 | |
Income before Income Taxes | 412,561 | 67,631 | 66,543 | 75,407 | 209,581 | 77,980 | 287,561 | 100,056 | 120,733 | 95,900 | 316,689 | |
Net Income Attributable to ORIX Corporation Shareholders | 302,700 | 50,048 | 43,794 | 48,173 | 142,015 | 50,369 | 192,384 | 65,216 | 81,466 | 64,659 | 211,341 | |
Total Assets *1 | 13,067,528 | 13,092,507 | 13,168,070 | 13,324,491 | 13,324,491 | 13,563,082 | 13,563,082 | 13,581,966 | 13,834,678 | 14,091,160 | 14,091,160 | |
Total Liabilities *1 | 9,991,362 | 10,076,751 | 10,127,385 | 10,322,277 | 10,322,277 | 10,459,938 | 10,459,938 | 10,466,715 | 10,626,179 | 10,846,395 | 10,846,395 | |
Total ORIX Corporation Shareholders' Equity *1 | 2,993,608 | 2,935,174 | 2,979,684 | 2,938,261 | 2,938,261 | 3,028,456 | 3,028,456 | 3,047,532 | 3,117,654 | 3,147,960 | 3,147,960 |
*1 Accounting Standards Update 2016-13 ("Measurement of Credit Losses on Financial Instruments"-ASC 326 ("Financial Instruments-Credit Losses")) has been adopted since the first quarter of fiscal 2021.
Financial Indicators (1) | 2019.4-2020.3 | 2020.4-6 | 2020.7-9 | 2020.10-12 | 2020.4-12 | 2021.1-3 | 2020.4-2021.3 | 2021.4-6 | 2021.7-9 | 2021.10-12 | 2021.4-12 | |
Return on Equity | (ROE) | 10.3% | 6.8% | 6.3% | 6.4% | 6.4% | 6.4% | 6.4% | 8.6% | 9.5% | 9.1% | 9.1% |
Return on Assets | (ROA) | 2.40% | 1.53% | 1.43% | 1.43% | 1.43% | 1.44% | 1.44% | 1.92% | 2.14% | 2.04% | 2.04% |
Return on Segment Assets (ROA) | 2.90% | 1.84% | 1.72% | 1.72% | 1.72% | 1.73% | 1.73% | 2.30% | 2.56% | 2.42% | 2.42% |
- All of the above are calculated using accumulated Net Income Attributable to ORIX Corporation Shareholders.
Financial Indicators (2) | 2019.4-2020.3 | 2020.4-6 | 2020.7-9 | 2020.10-12 | 2020.4-12 | 2021.1-3 | 2020.4-2021.3 | 2021.4-6 | 2021.7-9 | 2021.10-12 | 2021.4-12 | |
Shareholders' Equity Ratio | 22.9% | 22.4% | 22.6% | 22.1% | 22.1% | 22.3% | 22.3% | 22.4% | 22.5% | 22.3% | 22.3% | |
Debt-to-Equity Ratio | (times) | |||||||||||
(Short- and Long-Term Debt+Deposits)/Shareholders' Equity | 2.3 | 2.4 | 2.3 | 2.4 | 2.4 | 2.3 | 2.3 | 2.3 | 2.3 | 2.3 | 2.3 | |
(Short- and Long-Term Debt)/Shareholders' Equity | 1.5 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | |
Shareholders' Equity Per Share | (yen) | 2,386.35 | 2,355.21 | 2,392.31 | 2,407.57 | 2,407.57 | 2,487.77 | 2,487.77 | 2,514.38 | 2,593.96 | 2,638.20 | 2,638.20 |
Basic EPS | (yen) | 237.38 | 40.08 | 35.15 | 39.00 | 114.27 | 41.35 | 155.54 | 53.65 | 67.51 | 54.00 | 175.17 |
Diluted EPS | (yen) | 237.17 | 40.05 | 35.12 | 38.97 | 114.17 | 41.31 | 155.39 | 53.61 | 67.43 | 53.94 | 174.98 |
Number of Employees | 31,233 | 31,857 | 31,673 | 33,283 | 33,283 | 33,153 | 33,153 | 33,344 | 33,139 | 32,951 | 32,951 |
- Shareholders' Equity Ratio, Debt-to-Equity Ratio and Shareholders' Equity Per Share are calculated using Total ORIX Corporation Shareholders' Equity.
- 1 -
(Unaudited)
Segment Information
(Millions of yen)
Segment | Segment Information | 2019.4-2020.3 | 2020.4-6 | 2020.7-9 | 2020.10-12 | 2020.4-12 | 2021.1-3 | 2020.4-2021.3 | 2021.4-6 | 2021.7-9 | 2021.10-12 | 2021.4-12 |
Corporate Financial Services and | Segment Profits | 74,712 | 13,292 | 17,802 | 19,348 | 50,442 | 20,285 | 70,727 | 20,279 | 32,122 | 18,667 | 71,068 |
Maintenance Leasing | Segment Assets | 1,804,216 | 1,758,504 | 1,724,711 | 1,707,928 | 1,707,928 | 1,676,063 | 1,676,063 | 1,635,925 | 1,659,642 | 1,637,034 | 1,637,034 |
Segment Asset ROA | 2.80% | 2.04% | 2.41% | 2.62% | 2.62% | 2.78% | 2.78% | 3.36% | 4.30% | 3.92% | 3.92% | |
Real Estate | Segment Profits | 81,513 | 1,850 | 9,159 | 5,566 | 16,575 | 9,311 | 25,886 | 11,013 | 12,847 | 4,001 | 27,861 |
Segment Assets | 821,194 | 816,468 | 827,330 | 834,678 | 834,678 | 872,095 | 872,095 | 864,348 | 878,068 | 888,077 | 888,077 | |
Segment Asset ROA | 7.06% | 0.62% | 1.83% | 1.83% | 1.83% | 2.09% | 2.09% | 3.48% | 3.74% | 2.89% | 2.89% | |
PE Investment and Concession | Segment Profits | 44,508 | 4,601 | (307) | 286 | 4,580 | (738) | 3,842 | 268 | 1,566 | (12,077) | (10,243) |
Segment Assets | 322,522 | 332,390 | 322,588 | 398,970 | 398,970 | 378,698 | 378,698 | 382,004 | 368,794 | 356,907 | 356,907 | |
Segment Asset ROA | 12.17% | 3.84% | 1.16% | 0.39% | 0.39% | 0.00% | 0.00% | (0.98)% | (0.39)% | (3.55)% | (3.55)% | |
Environment and Energy | Segment Profits | 11,147 | 7,721 | 5,878 | 3,486 | 17,085 | 10,458 | 27,543 | 4,489 | 5,174 | 8,784 | 18,447 |
Segment Assets | 464,273 | 468,203 | 463,334 | 461,938 | 461,938 | 489,174 | 489,174 | 490,892 | 695,445 | 696,957 | 696,957 | |
Segment Asset ROA | 1.80% | 4.65% | 4.07% | 3.42% | 3.42% | 4.08% | 4.08% | 2.51% | 2.24% | 2.84% | 2.84% | |
Insurance | Segment Profits | 45,954 | 18,255 | 17,053 | 16,239 | 51,547 | 4,605 | 56,152 | 15,489 | 17,520 | 12,688 | 45,697 |
Segment Assets | 1,580,158 | 1,663,980 | 1,710,425 | 1,887,966 | 1,887,966 | 1,959,521 | 1,959,521 | 1,951,533 | 1,962,961 | 2,073,511 | 2,073,511 | |
Segment Asset ROA | 2.34% | 3.22% | 3.08% | 2.84% | 2.84% | 2.28% | 2.28% | 2.28% | 2.42% | 2.17% | 2.17% | |
Banking and Credit | Segment Profits | 40,816 | 11,903 | 13,267 | 13,228 | 38,398 | 11,515 | 49,913 | 12,759 | 9,306 | 12,360 | 34,425 |
Segment Assets | 2,603,736 | 2,629,450 | 2,676,617 | 2,707,265 | 2,707,265 | 2,690,627 | 2,690,627 | 2,702,780 | 2,709,991 | 2,698,248 | 2,698,248 | |
Segment Asset ROA | 1.14% | 1.25% | 1.31% | 1.32% | 1.32% | 1.29% | 1.29% | 1.30% | 1.12% | 1.17% | 1.17% | |
Aircraft and Ships | Segment Profits | 44,885 | 7,584 | (2,057) | (1,183) | 4,344 | 1,013 | 5,357 | (4,831) | 5,449 | 2,592 | 3,210 |
Segment Assets | 585,304 | 586,132 | 568,866 | 559,971 | 559,971 | 601,762 | 601,762 | 593,642 | 615,640 | 645,870 | 645,870 | |
Segment Asset ROA | 6.69% | 5.09% | 1.82% | 0.92% | 0.92% | 0.82% | 0.82% | (3.44)% | (0.14)% | 0.30% | 0.30% | |
ORIX USA | Segment Profits | 50,955 | (585) | 10,466 | 15,239 | 25,120 | 15,176 | 40,296 | 25,163 | 22,451 | 20,602 | 68,216 |
Segment Assets | 1,374,027 | 1,316,795 | 1,294,184 | 1,235,854 | 1,235,854 | 1,220,081 | 1,220,081 | 1,209,142 | 1,188,438 | 1,336,869 | 1,336,869 | |
Segment Asset ROA | 3.19% | (0.14)% | 1.17% | 2.03% | 2.03% | 2.45% | 2.45% | 6.55% | 6.25% | 5.62% | 5.62% | |
ORIX Europe | Segment Profits | 45,084 | 7,189 | 9,914 | 9,986 | 27,089 | 12,357 | 39,446 | 13,472 | 15,119 | 27,576 | 56,167 |
Segment Assets | 317,847 | 326,740 | 318,682 | 337,172 | 337,172 | 369,546 | 369,546 | 368,030 | 397,073 | 405,055 | 405,055 | |
Segment Asset ROA | 10.23% | 6.69% | 8.06% | 8.27% | 8.27% | 8.61% | 8.61% | 10.96% | 11.19% | 14.50% | 14.50% | |
Asia and Australia | Segment Profits | 11,787 | 6,857 | (3,066) | 3,457 | 7,248 | 5,876 | 13,124 | 8,780 | 11,705 | 15,448 | 35,933 |
Segment Assets | 1,010,268 | 1,007,993 | 992,937 | 1,017,211 | 1,017,211 | 1,084,222 | 1,084,222 | 1,111,153 | 1,125,430 | 1,213,353 | 1,213,353 | |
Segment Asset ROA | 0.88% | 2.04% | 0.57% | 0.71% | 0.71% | 0.94% | 0.94% | 2.40% | 2.78% | 3.13% | 3.13% | |
Total | Segment Profits | 451,361 | 78,667 | 78,109 | 85,652 | 242,428 | 89,858 | 332,286 | 106,881 | 133,259 | 110,641 | 350,781 |
Segment Assets | 10,883,545 | 10,906,655 | 10,899,674 | 11,148,953 | 11,148,953 | 11,341,789 | 11,341,789 | 11,309,449 | 11,601,482 | 11,951,881 | 11,951,881 | |
Adjustment of Segment Profits to Consolidated Statement | (38,800) | (11,036) | (11,566) | (10,245) | (32,847) | (11,878) | (44,725) | (6,825) | (12,526) | (14,741) | (34,092) | |
Amounts | ||||||||||||
Income before Income Taxes | 412,561 | 67,631 | 66,543 | 75,407 | 209,581 | 77,980 | 287,561 | 100,056 | 120,733 | 95,900 | 316,689 |
- Segment Asset ROA is calculated using accumulated Segment Profits (after tax).
Since the first quarter of fiscal 2022, the tax rate used to calculate Segment Asset ROA has been changed based on the company belonging to each segment. As a result, Segment Asset ROA for the previous fiscal year has been retrospectively restated. - Accounting Standards Update 2016-13 ("Measurement of Credit Losses on Financial Instruments"―ASC 326 ("Financial Instruments―Credit Losses")) has been adopted since the first quarter of fiscal 2021.
- Since the first quarter of fiscal 2021, the operating segments have been reorganized. As a result of this change, segment data for the previous fiscal year has been retrospectively restated.
- Since the first quarter of fiscal 2021, the method of allocating selling, general and administrative expenses to segments has been changed. As a result, segment data for the previous fiscal year has been retrospectively restated.
- Since the first quarter of fiscal 2022, the method of allocating interest expenses and selling, general and administrative expenses to segments has been changed. As a result, segment data for the previous fiscal year has been retrospectively restated.
- Since the first quarter of fiscal 2022, a portion of the leasing business in the Environment and Energy segment was transferred to the Corporate Financial Services and Maintenance Leasing segment. As a result, segment data for the previous fiscal year has been retrospectively restated.
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(Unaudited) | ||||||||||||
Segment Asset Details | ||||||||||||
2020.3 | (Millions of yen) | |||||||||||
Corporate Financial | PE Investment | Environment | Banking and | Aircraft and | Asia and | |||||||
Assets by Segment | Services and | Real Estate | Insurance | ORIX USA | ORIX Europe | Total | ||||||
Maintenance | and Concession | and Energy | Credit | Ships | Australia | |||||||
Leasing | ||||||||||||
Net Investment in Leases * | 663,150 | 73,279 | 141 | 10,832 | - | - | 1,839 | 1,172 | - | 330,346 | 1,080,759 | |
Installment Loans | 379,541 | - | - | - | 17,720 | 2,318,347 | 24,088 | 778,249 | - | 222,465 | 3,740,410 | |
Investment in Operating Leases | 572,492 | 319,550 | 9,367 | 1,958 | 29,271 | - | 253,717 | 9,148 | - | 195,660 | 1,391,163 | |
Investment in Securities | 28,616 | 7,274 | 17,916 | 191 | 1,528,042 | 273,218 | - | 320,217 | 38,057 | 29,248 | 2,242,779 | |
Property under Facility Operations and Servicing Assets | 19,992 | 140,416 | 43,735 | 338,695 | - | - | - | 66,416 | - | 2,600 | 611,854 | |
Inventories | 736 | 82,762 | 40,263 | 394 | - | - | - | 1,442 | - | 242 | 125,839 | |
Advances for Finance Lease and Operating Lease | 293 | 37,272 | - | 1,861 | - | - | 4,990 | 1,259 | - | 1,742 | 47,417 | |
Investment in Affiliates | 18,347 | 91,835 | 68,603 | 82,253 | - | 400 | 284,453 | 52,361 | 1,495 | 221,853 | 821,600 | |
Advances for Property under Facility Operations | 760 | 7,327 | 245 | 12,229 | - | - | - | - | - | - | 20,561 | |
Goodwill, Intangible Assets Acquired in Business Combinations | 120,289 | 61,479 | 142,252 | 15,860 | 5,125 | 11,771 | 16,217 | 143,763 | 278,295 | 6,112 | 801,163 | |
Total | 1,804,216 | 821,194 | 322,522 | 464,273 | 1,580,158 | 2,603,736 | 585,304 | 1,374,027 | 317,847 | 1,010,268 | 10,883,545 | |
2021.3 | (Millions of yen) | |||||||||||
Corporate Financial | PE Investment | Environment | Banking and | Aircraft and | Asia and | |||||||
Assets by Segment | Services and | Real Estate | Insurance | ORIX USA | ORIX Europe | Total | ||||||
Maintenance | and Concession | and Energy | Credit | Ships | Australia | |||||||
Leasing | ||||||||||||
Net Investment in Leases * | 610,366 | 66,371 | 1,541 | 8,978 | - | - | 2,994 | 458 | - | 338,603 | 1,029,311 | |
Installment Loans | 330,917 | - | - | - | 17,315 | 2,402,916 | 30,757 | 617,822 | - | 271,038 | 3,670,765 | |
Investment in Operating Leases | 548,677 | 291,877 | 23,455 | 2,051 | 28,909 | - | 262,482 | 5,317 | - | 235,182 | 1,397,950 | |
Investment in Securities | 30,318 | 8,543 | 12,918 | 814 | 1,908,148 | 275,740 | - | 342,631 | 45,540 | 32,804 | 2,657,456 | |
Property under Facility Operations and Servicing Assets | 18,726 | 149,479 | 43,972 | 262,016 | - | - | - | 72,094 | - | 1,284 | 547,571 | |
Inventories | 630 | 94,429 | 45,597 | 396 | - | - | - | 603 | - | 377 | 142,032 | |
Advances for Finance Lease and Operating Lease | 500 | 98,820 | - | 1,392 | - | - | 578 | 378 | - | 3,064 | 104,732 | |
Investment in Affiliates | 18,049 | 99,105 | 55,421 | 180,492 | - | 200 | 293,469 | 43,816 | 1,770 | 195,413 | 887,735 | |
Advances for Property under Facility Operations | - | 4,089 | 6,732 | 19,963 | - | - | - | - | - | - | 30,784 | |
Goodwill, Intangible Assets Acquired in Business Combinations | 117,880 | 59,382 | 189,062 | 13,072 | 5,149 | 11,771 | 11,482 | 136,962 | 322,236 | 6,457 | 873,453 | |
Total | 1,676,063 | 872,095 | 378,698 | 489,174 | 1,959,521 | 2,690,627 | 601,762 | 1,220,081 | 369,546 | 1,084,222 | 11,341,789 | |
2021.12 | (Millions of yen) | |||||||||||
Corporate Financial | PE Investment | Environment | Banking and | Aircraft and | Asia and | |||||||
Assets by Segment | Services and | Real Estate | Insurance | ORIX USA | ORIX Europe | Total | ||||||
Maintenance | and Concession | and Energy | Credit | Ships | Australia | |||||||
Leasing | ||||||||||||
Net Investment in Leases * | 601,017 | 63,139 | 1,487 | 8,702 | - | - | 1,571 | 454 | - | 375,447 | 1,051,817 | |
Installment Loans | 321,363 | - | - | 701 | 17,693 | 2,407,866 | 80,901 | 720,049 | - | 303,047 | 3,851,620 | |
Investment in Operating Leases | 526,753 | 284,121 | 43,965 | 204 | 28,550 | - | 247,575 | 5,027 | - | 263,710 | 1,399,905 | |
Investment in Securities | 36,362 | 7,669 | 12,534 | 874 | 2,022,153 | 278,511 | - | 354,827 | 79,460 | 33,145 | 2,825,535 | |
Property under Facility Operations and Servicing Assets | 17,519 | 157,024 | 40,241 | 372,339 | - | - | - | 74,391 | - | 1,046 | 662,560 | |
Inventories | 520 | 97,102 | 38,827 | 368 | - | - | 73 | 606 | - | 430 | 137,926 | |
Advances for Finance Lease and Operating Lease | 444 | 112,301 | - | 14 | - | - | - | 753 | - | 6,088 | 119,600 | |
Investment in Affiliates | 17,257 | 102,149 | 46,180 | 197,094 | - | 100 | 305,548 | 40,615 | 1,996 | 223,972 | 934,911 | |
Advances for Property under Facility Operations | - | 6,764 | 1,187 | 17,296 | - | - | - | - | - | - | 25,247 | |
Goodwill, Intangible Assets Acquired in Business Combinations | 115,799 | 57,808 | 172,486 | 99,365 | 5,115 | 11,771 | 10,202 | 140,147 | 323,599 | 6,468 | 942,760 | |
Total | 1,637,034 | 888,077 | 356,907 | 696,957 | 2,073,511 | 2,698,248 | 645,870 | 1,336,869 | 405,055 | 1,213,353 | 11,951,881 |
- Since the first quarter of fiscal 2021, the operating segments have been reorganized. As a result of this change, segment data for the previous fiscal year has been retrospectively restated.
- Since the first quarter of fiscal 2022, a portion of the leasing business in the Environment and Energy segment was transferred to the Corporate Financial Services and Maintenance Leasing segment. As a result, segment data for the previous fiscal year has been retrospectively restated.
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ORIX Corporation published this content on 07 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2022 08:17:05 UTC.