Strong profit surge and new dividend policy at ORIX Corporation (NYSE: IX)

Rhea-AI Filing Summary

ORIX Corporation reported strong results for the three months ended June 30, 2026, with total revenues of ¥876,628 million, up 17% year on year, and net income attributable to shareholders of ¥280,832 million, up 162%. Basic EPS rose to ¥256.07 and annualized ROE reached 24.4%.

Growth was driven mainly by a surge in equity in net income of equity method investments to ¥207,918 million and ¥64,313 million of gains on sales of subsidiaries and equity method investments and liquidation losses, net, including transactions related to Kioxia Holdings via TB Investment Limited Partnership and the sale of SUGIKO. Japan & APAC and USA & Europe segments saw large profit increases, while Infrastructure declined due to the absence of a prior-year hotel sale; Insurance profits grew 16%.

Total assets were ¥18,256,420 million and shareholders’ equity ¥4,710,425 million, for a 25.8% shareholders’ equity ratio. The board adopted a dividend policy targeting the higher of 39% of adjusted EPS or ¥156.10 per share, with an estimated ¥187.36 total dividend for the year ending March 31, 2027. Management forecasts net income attributable to shareholders of ¥840,000 million for the six months ending September 30, 2026 and ¥530,000 million for the full year. ORIX classified ORIX Bank Corporation as a discontinued operation and completed its sale on August 3, 2026, expecting to record a gain. The company also notes it may be treated as a passive foreign investment company for U.S. tax purposes.

Positive

• 162% year-on-year increase in net income attributable to shareholders to ¥280,832 million, with basic EPS up to ¥256.07 and annualized ROE at 24.4%.
• Total segment profits rose 173% to ¥424,088 million, led by sharp profit gains in the Japan & APAC and USA & Europe segments from equity-method and valuation gains.
• Board approved a dividend framework targeting the higher of 39% of adjusted EPS or ¥156.10 per share, with a projected total dividend of ¥187.36 for the year ending March 31, 2027.
• Management forecasts net income attributable to shareholders of ¥840,000 million for the six months ending September 30, 2026 and ¥530,000 million for the year ending March 31, 2027, both showing strong year-on-year growth.

Negative

• Earnings are heavily influenced by non-recurring items, including equity in net income of equity method investments of ¥207,918 million and ¥64,313 million of gains on sales of subsidiaries and equity method investments and liquidation losses, net.
• Infrastructure segment profits fell 37% to ¥43,317 million, mainly because the prior-year period included a large one-time gain on the sale of Hotel Universal Port Vita.
• The company indicates it may be a passive foreign investment company, which subjects U.S. holders of its shares or ADSs to special, potentially adverse U.S. federal income tax rules.

Key Figures

Total Revenues: ¥876,628 million Net Income Attributable to Shareholders: ¥280,832 million Basic Earnings Per Share: ¥256.07 +5 more

8 metrics

Total Revenues ¥876,628 million Three months ended June 30, 2026; 17% higher than the prior-year period

Net Income Attributable to Shareholders ¥280,832 million Three months ended June 30, 2026; 162% higher than the prior-year period

Basic Earnings Per Share ¥256.07 Three months ended June 30, 2026

ROE (Annualized) 24.4% Three months ended June 30, 2026

Total Assets ¥18,256,420 million As of June 30, 2026

Shareholders’ Equity Ratio 25.8% As of June 30, 2026

Forecast Net Income (Six Months) ¥840,000 million Net income attributable to shareholders for six months ending September 30, 2026; 209.9% increase

Forecast Net Income (Full Year) ¥530,000 million Net income attributable to shareholders for fiscal year ending March 31, 2027; 18.5% increase

Key Terms

passive foreign investment company, equity method investments, discontinued operations, fair value option, +2 more

6 terms

passive foreign investment company regulatory

"The Company believes that it may have been a “passive foreign investment company”"

A passive foreign investment company (PFIC) is a foreign corporation that, under U.S. tax rules, earns mostly passive income (like dividends, interest, rents, or royalties) or holds mostly passive assets. For U.S. investors, owning stock in a PFIC can trigger special, often punitive tax treatment and extra reporting requirements, which can raise the investor’s tax bill and reduce after‑tax returns—think of an unexpected tax surcharge that changes the real payoff of the investment.

equity method investments financial

"Equity in net income of equity method investments increased 970% to ¥207,918 million"

An equity method investment is an accounting approach used when a company owns a significant share of another company and can influence its decisions but does not fully control it; instead of listing the investment at cost, the investor records its share of the other company's profits or losses on its own income statement and adjusts the investment value on the balance sheet. For investors, this matters because it links the investor’s reported earnings and asset values directly to the financial performance of that partly-owned business, similar to how a partner’s gains affect a small business owner’s books.

discontinued operations financial

"have been classified as discontinued operations in the current fiscal year"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

fair value option financial

"measured at fair value by electing the fair value option are as follows"

An accounting election that lets a company measure eligible financial assets and liabilities at their current market price, recording gains and losses in the income statement as those prices move. For investors it matters because choosing the fair value option makes reported profits and asset values respond immediately to market swings—like revaluing a house to today’s sale price—so it can increase earnings volatility while giving a more up‑to‑date view of value.

policy liabilities and policy account balances financial

"Policy Liabilities and Policy Account Balances were ¥1,984,095 million"

Board Incentive Plan Trust financial

"shares held through the Board Incentive Plan Trust are not included in treasury stock"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 08/06/2026 - 06:06 AM Accepted by SEC EDGAR 08/06/2026 - 06:05 AM Learn about SEC filing dates

FAQ

How did ORIX (IX) perform for the quarter ended June 30, 2026?

ORIX reported ¥876,628 million in total revenues, up 17% year on year, and net income attributable to shareholders of ¥280,832 million, up 162%. Basic EPS reached 256.07 yen, supported by large equity-method gains and gains on sales of investments.

What is ORIX (IX)'s earnings outlook for the year ending March 31, 2027?

ORIX forecasts net income attributable to shareholders of ¥840,000 million for the six months ending September 30, 2026 and ¥530,000 million for the full fiscal year, representing year-on-year increases of 209.9% and 18.5%, respectively, based on current assumptions.

How did ORIX (IX)'s business segments perform in the latest quarter?

Total segment profits rose to ¥424,088 million. Japan & APAC profits jumped to ¥289,811 million, USA & Europe to ¥63,000 million, Insurance to ¥27,960 million, while Infrastructure declined to ¥43,317 million due to the absence of a prior-year hotel sale gain.

What dividend policy changes did ORIX (IX) approve for FY ending March 31, 2027?

ORIX set annual dividends as the higher of 39% of adjusted EPS or ¥156.10 per share. Based on current forecasts, the company estimates a second-quarter dividend of ¥107.27 and total annual dividends of ¥187.36 per share.

What is happening with ORIX Bank Corporation and how does it affect ORIX (IX)?

ORIX agreed to sell all shares of ORIX Bank Corporation to Daiwa Next Bank. ORIX Bank is classified as a discontinued operation, with assets of ¥3,262,029 million and liabilities of ¥3,006,671 million as of June 30, 2026. ORIX expects to record a gain on the sale.

Why does ORIX (IX) highlight possible passive foreign investment company (PFIC) status?

ORIX believes it may have been a PFIC for the year covered and may remain so. U.S. holders of its shares or ADSs can face special tax rules limiting deferral benefits, so the company urges investors to review its PFIC disclosure and consult tax advisers.

Table of Contents

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2026

Commission File Number: 001-14856

ORIX Corporation

(Translation of Registrant’s Name into English)

World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-ku, Tokyo, JAPAN

(Address of Principal Executive Offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F ☒  Form 40-F ☐

Table of Contents

Table of Contents

Material Contained in this Report

1. ORIX’s First Quarter Consolidated Financial Results (April 1, 2026 –June 30, 2026) filed with the Tokyo Stock Exchange on Thursday, August 6, 2026.

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		ORIX Corporation
Date: August 6, 2026		By		/s/ Masataka Yamada
				Masataka Yamada
				Member of the Board of Directors Senior Managing Executive Officer Chief Financial Officer and Chief Strategy Officer Responsible for Corporate Strategy and Management Unit ORIX Corporation

Table of Contents

Consolidated Financial Results

April 1, 2026 – June 30, 2026

August 6, 2026

In preparing its consolidated financial information, ORIX Corporation (the “Company”) and its subsidiaries have complied with generally accepted accounting principles in the United States of America.

This document may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on the Company’s 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 most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission.

The Company believes that it may have been a “passive foreign investment company” for U.S. federal income tax purposes in the year to which these consolidated financial results relate by reason of the composition of its assets and the nature of its income. In addition, the Company may be a PFIC for the foreseeable future. Assuming that the Company is a PFIC, a U.S. holder of the shares or American depositary shares of the Company will be subject to special rules generally intended to eliminate any benefits from the deferral of U.S. federal income tax that a holder could derive from investing in a foreign corporation that does not distribute all of its earnings on a current basis. Investors should consult their tax advisors with respect to such rules, which are summarized in the Company’s annual report.

For further information please contact:

Investor Relations Department

ORIX Corporation

World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-Ku, Tokyo, 105-5135

JAPAN

Tel: +81-3-3435-3121 Fax: +81-3-3435-3154

E-mail: orix_corpcomm@orix.jp

Table of Contents

Consolidated Financial Results from April 1, 2026 to June 30, 2026

(U.S. GAAP Financial Information for ORIX Corporation and its Subsidiaries)

Corporate Name:		ORIX Corporation
Listed Exchanges:		Tokyo Stock Exchange (Securities No. 8591)
		New York Stock Exchange (Trading Symbol : IX)
Head Office:		Tokyo JAPAN
		Tel: +81-3-3435-3121
		(URL https://www.orix.co.jp/grp/en/ir/)

1. Performance Highlights as of and for the Three Months Ended June 30, 2026

(1) Performance Highlights - Operating Results (Unaudited)

(millions of yen)

		Total Revenues *2				Year-on-Year Change				Operating Income *2				Year-on-Year Change				Income from Continuing Operations before Income Taxes *2				Year-on-Year Change				Net Income Attributable to ORIX Corporation Shareholders				Year-on-Year Change
June 30, 2026			876,628				17.4	%			133,919				11.7	%			406,150				178.8	%			280,832				161.8	%
June 30, 2025			746,973				7.7	%			119,918				49.6	%			145,666				27.8	%			107,288				23.7	%

*Note 1: “Comprehensive Income Attributable to ORIX Corporation Shareholders” was ¥335,588 million for the three months ended June 30, 2026 (year-on-year change was a 132.3% increase) and ¥144,448 million for the three months ended June 30, 2025 (year-on-year change was a 30.3% decrease).

*Note 2: As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, total revenues, operating income and income before income taxes for the three months ended June 30, 2026 are presented on a continuing operations basis, excluding the results of the business of the Target, which has been separately presented as discontinued operations. The corresponding amounts for the three months ended June 30, 2025 have also been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

		Basic Earnings Per Share				Diluted Earnings Per Share
June 30, 2026			256.07				255.56
June 30, 2025			94.63				94.44

*Note 3: Unless otherwise stated, all amounts shown herein are in millions of Japanese yen, except for per share and dividend amounts, which are in single yen.

(2) Performance Highlights - Financial Position (Unaudited)

		Total Assets				Total Equity				Shareholders’ Equity				Shareholders’ Equity Ratio
June 30, 2026			18,256,420				4,790,217				4,710,425				25.8	%
March 31, 2026			18,002,776				4,573,068				4,482,500				24.9	%

*Note 4: “Shareholders’ Equity” refers to “Total ORIX Corporation Shareholders’ Equity.”

“Shareholders’ Equity Ratio” is the ratio of “Total ORIX Corporation Shareholders’ Equity” to “Total Assets.”

2. Dividends (Unaudited)

		First Quarter-end				Second Quarter-end				Third Quarter-end				Year-end				Total
March 31, 2026			—				93.76				—				62.34				156.10
March 31, 2027			—
March 31, 2027 (Est.)							107.27				—				—				187.36

*Note 5: Revision from previously announced dividend forecast: Yes

*Note 6: For the fiscal year ending March 31, 2027, after-tax gains or losses arising from the sale and valuation of shares of Kioxia Holdings Corporation (Head office: Minato-ku, Tokyo; President and CEO: Hiroo Ota; “Kioxia”), recognized through TB Investment Limited Partnership, an equity-method affiliate of ORIX Corporation, in connection with transactions by Toshiba Corporation (Head Office: Kawasaki City, Kanagawa Prefecture; President and CEO: Taro Shimada; “Toshiba”), will be recognized in ORIX Corporation’s consolidated earnings. Although a substantial amount of such gains or losses is expected to be recognized in net income attributable to ORIX Corporation Shareholders for the six months ending September 30, 2026, such gains or losses are expected to fluctuate with future changes in Kioxia’s share price and therefore remain uncertain. In addition, ORIX Corporation will not directly receive cash inflows corresponding to such gains or losses.

Accordingly, at the Board of Directors meeting held on August 6, 2026, ORIX Corporation resolved to revise its dividend policy for the fiscal year ending March 31, 2027, such that the annual dividend will be the higher of either an amount calculated by applying 39% to adjusted EPS calculated based on adjusted net income attributable to ORIX Corporation Shareholders excluding such gains or losses stated above, or ¥156.10 per share. The forecasted dividend for the second quarter-end shown below assumes adjusted net income attributable to ORIX Corporation Shareholders of ¥300,000 million for the six months ending September 30, 2026, as set forth in the Forecast below. Dividends per share are calculated based on the number of issued shares excluding treasury shares and may fluctuate due to changes in the number of treasury shares resulting from share repurchases.

3. Forecast for the Year Ending March 31, 2027 (Unaudited)

		Net Income Attributable to ORIX Corporation Shareholders				Year-on-Year Change
Six Months Ending September 30, 2026			840,000				209.9	%
Fiscal Year Ending March 31, 2027			530,000				18.5	%

*Note 7: Although forward-looking statements in this document are based on information currently available to ORIX Corporation and are based on assumptions deemed reasonable by ORIX Corporation, actual financial results may differ materially due to various factors. Readers are urged not to place undue reliance on such forward-looking statements.

Factors causing a result that differs from forward-looking statements include, but are not limited to, those described under “Risk Factors” in our Form 20-F submitted to the U.S. Securities and Exchange Commission.

*Note 8: Revision from previously announced forecast for the year ending March 31, 2027: Yes

*Note 9: Adjusted net income attributable to ORIX Corporation Shareholders for the six months ending September 30, 2026 is forecasted at ¥300,000 million, excluding the after-tax amount of gains on sales and valuation of Kioxia shares recognized through TB Investment Limited Partnership, an equity-method affiliate of ORIX Corporation, and recorded by Toshiba Corporation (the “Adjustment”).

The amount of the Adjustment for the fiscal year ending March 31, 2027 is expected to fluctuate due to future changes in Kioxia’s share price and other factors. As it is currently difficult to reasonably estimate such amount, adjusted net income attributable to ORIX Corporation Shareholders for the fiscal year ending March 31, 2027 has not been disclosed.

4. Other Information

(1) Significant Changes in Scope of Consolidation			Yes ( )  No ( x )
Addition - None (        )			Exclusion - None (        )
(2) Adoption of Simplified Accounting Method			Yes ( )  No ( x )
(3) Changes in Accounting Principles, Procedures and Disclosures
1. Changes due to adoptions of new accounting standards			Yes ( )  No ( x )
2. Other than those above			Yes ( )  No ( x )

(4) Number of Issued Shares (Ordinary Shares)

1. The number of issued shares, including treasury stock, was 1,124,106,624 as of June 30, 2026, and 1,124,106,624 as of March 31, 2026.

2. The number of treasury stock was 28,838,843 as of June 30, 2026, and 22,484,702 as of March 31, 2026.

3. The average number of outstanding shares was 1,096,391,135 for the three months ended June 30, 2026, and 1,133,591,927 for the three months ended June 30, 2025.

The Company’s shares held through the Board Incentive Plan Trust (3,035,102 shares as of June 30, 2026 and 3,035,102 shares as of March 31, 2026) are not included in the number of treasury stock as of the end of the periods, but are included in the average number of shares outstanding as treasury stock that are deducted from the basis of the calculation of per share data.

* These consolidated financial results from April 1, 2026 to June 30, 2026 are not subject to certified public accountant’s or audit firm’s quarterly review.

- 1 -

Table of Contents

1. Summary of Consolidated Financial Results

(1) Financial Highlights

Financial Results for the Three Months Ended June 30, 2026

				Three months ended June 30, 2025				Three months ended June 30, 2026				Change
												Amount				Percent (%)
Total Revenues *3		(millions of yen)			746,973				876,628				129,655				17
Total Expenses *3		(millions of yen)			627,055				742,709				115,654				18
Income from Continuing Operations before Income Taxes *3		(millions of yen)			145,666				406,150				260,484				179
Net Income Attributable to ORIX Corporation Shareholders		(millions of yen)			107,288				280,832				173,544				162
Earnings Per Share (Basic)		(yen)			94.63				256.07				161.44				171
(Diluted)		(yen)			94.44				255.56				161.12				171
ROE (Annualized) *1		(%)			10.4				24.4				14.0				—
ROA (Annualized) *2		(%)			2.53				6.20				3.67				—

*1 ROE is the ratio of Net Income Attributable to ORIX Corporation Shareholders for the period to average ORIX Corporation Shareholders’ Equity.

*2 ROA is calculated based on Net Income Attributable to ORIX Corporation Shareholders.

*3 As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, Total Revenues, Total Expenses and Income from Continuing Operations before Income Taxes for the three months ended June 30, 2026 are presented on a continuing operations basis, excluding the results of the business of the Target, which has been separately presented as discontinued operations. The corresponding amounts for the three months ended June 30, 2025 have also been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

Overview of Business Performance (April 1, 2026 to June 30, 2026)

Total revenues for the three months ended June 30, 2026 (hereinafter, “the first consolidated period”) increased 17% to ¥876,628 million compared to ¥746,973 million during the same period of the previous fiscal year primarily due to increases in gains on investment securities and dividends, as well as life insurance premiums and related investment income.

Total expenses increased 18% to ¥742,709 million compared to ¥627,055 million during the same period of the previous fiscal year primarily due to increases in life insurance costs and selling, general and administrative expenses.

Equity in net income of equity method investments increased 970% to ¥207,918 million compared to the same period of the previous fiscal year, primarily due to increased equity in net income from a certain equity method investee, and gains on sales of subsidiaries and equity method investments and liquidation losses, net increased 920% to ¥64,313 million compared to the same period of the previous fiscal year.

Due to the above results, income from continuing operations before income taxes for the first consolidated period increased 179% to ¥406,150 million compared to ¥145,666 million during the same period of the previous fiscal year and net income attributable to ORIX Corporation Shareholders, including net income from discontinued operations, increased 162% to ¥280,832 million compared to ¥107,288 million during the same period of the previous fiscal year.

- 2 -

Table of Contents

Segment Information

Total segment profits for the first consolidated period increased 173% to ¥424,088 million compared to the same period of the previous fiscal year.

Beginning with the current consolidated fiscal year, the Company has reorganized its reportable segments into Japan & APAC, Infrastructure, USA & Europe, and Insurance, reflecting changes in the segments used by the CODM for resource allocation and performance evaluation purposes. In connection with this change, segment information as of March 31, 2026 and for the three months ended June 30, 2025 presented below has been recast to conform to the current presentation.

On April 27, 2026, the Company decided to sell all shares in ORIX Bank Corporation (hereinafter, the “Target”), a consolidated subsidiary, to Daiwa Next Bank, Ltd. As a result of this decision, the operations of the Target, which had previously been reported as continuing operations, have been classified as discontinued operations in the current fiscal year in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations. Segment information presents amounts relating only to continuing operations and excludes the discontinued operations. Comparative segment information for the previous fiscal year has also been revised to reflect this change. For further details regarding discontinued operations, please refer to Note (8), “Discontinued Operations,” under “2. Quarterly Consolidated Financial Statements and Notes.”

Segment information for the fiscal year is as follows:

Japan & APAC: Financial services, fee-based businesses, and corporate investment

		Three months ended June 30, 2025 (millions of yen)				Three months ended June 30, 2026 (millions of yen)				Change
										Amount   (millions of yen)				Percent   (%)
Segment Profits			52,201				289,811				237,610				455
		As of March 31, 2026 (millions of yen)				As of June 30, 2026  (millions of yen)				Change
										Amount (millions of yen)				Percent (%)
Segment Assets			4,720,861				4,742,729				21,868				0

Segment profits increased 455% to ¥289,811 million compared to the same period of the previous fiscal year primarily due to an increase in equity in net income of equity method investments. This increase mainly reflected the recognition, through TB Investment Limited Partnership, an equity-method affiliate of the Company, of gains on the sale and valuation gains relating to shares of Kioxia Holdings Corporation recorded by Toshiba Corporation in the fourth quarter of the fiscal year ended March 31, 2026, as well as a gain on the sale of shares of SUGIKO GROUP HOLDINGS CO., LTD. (“SUGIKO”), a consolidated subsidiary, recognized in the first quarter of the current fiscal year.

Segment assets totaled ¥4,742,729 million, remaining relatively unchanged compared to the end of the previous fiscal year, as the decrease in various assets associated with the sale of SUGIKO was offset by an increase in equity method investments resulting from the recognition of equity in net income of equity method investments through TB Investment Limited Partnership.

- 3 -

Table of Contents

Infrastructure: Investment, development, operation, and asset management of real estate, aircraft, ships, and environmental & energy-related assets

		Three months ended June 30, 2025 (millions of yen)				Three months ended June 30, 2026 (millions of yen)				Change
										Amount   (millions of yen)				Percent   (%)
Segment Profits			68,407				43,317				(25,090	)			(37	)
		As of March 31, 2026 (millions of yen)				As of June 30, 2026  (millions of yen)				Change
										Amount (millions of yen)				Percent (%)
Segment Assets			3,575,072				3,567,338				(7,734	)			(0	)

Segment profits decreased 37% to ¥43,317 million compared to the same period of the previous fiscal year primarily due to the absence of a gain on the sale of Hotel Universal Port Vita that was recognized in the first quarter of the previous fiscal year.

Segment assets totaled ¥3,567,338 million, remaining relatively unchanged compared to the end of the previous fiscal year.

USA & Europe: Financial services, investments, asset management, and advisory services

		Three months ended June 30, 2025 (millions of yen)				Three months ended June 30, 2026 (millions of yen)				Change
										Amount   (millions of yen)				Percent   (%)
Segment Profits			10,594				63,000				52,406				495
		As of March 31, 2026 (millions of yen)				As of June 30, 2026 (millions of yen)				Change
										Amount (millions of yen)				Percent (%)
Segment Assets			2,741,031				2,856,699				115,668				4

Segment profits increased 495% to ¥63,000 million compared to the previous fiscal year primarily due to valuation gains recognized in ORIX USA’s private equity investment business.

Segment assets increased 4% to ¥2,856,699 million compared to the end of the previous fiscal year primarily due to an increase in installment loans at ORIX USA and the favorable impact of foreign exchange movements.

- 4 -

Table of Contents

Insurance: Life insurance

		Three months ended June 30, 2025 (millions of yen)				Three months ended June 30, 2026 (millions of yen)				Change
										Amount   (millions of yen)				Percent   (%)
Segment Profits			24,063				27,960				3,897				16
		As of March 31, 2026 (millions of yen)				As of June 30, 2026 (millions of yen)				Change
										Amount (millions of yen)				Percent (%)
Segment Assets			3,198,270				3,259,346				61,076				2

Segment profits increased 16% to ¥27,960 million compared to the previous fiscal year primarily due to an increase in life insurance premiums and related investment income.

Segment assets increased 2% to ¥3,259,346 million compared to the end of the previous fiscal year primarily due to increases in investment in securities and reinsurance recoverables.

- 5 -

Table of Contents

(2) Consolidated Financial Condition

Summary of Assets, Liabilities, Shareholders’ Equity

				As of March 31, 2026				As of June 30, 2026				Change
												Amount				Percent (%)
Total Assets		(millions of yen)			18,002,776				18,256,420				253,644				1
(Segment Assets) *3					14,235,234				14,426,112				190,878				1
Total Liabilities		(millions of yen)			13,378,965				13,413,847				34,882				0
(Short-term and Long-term Debt) *3					6,343,295				6,308,802				(34,493	)			(1	)
(Deposits) *3					2,330				2,448				118				5
Shareholders’ Equity *1		(millions of yen)			4,482,500				4,710,425				227,925				5
Shareholders’ Equity Per Share *2		(yen)			4,080.24				4,312.66				232.42				6

*1 Shareholders’ Equity refers to total ORIX Corporation Shareholders’ Equity based on U.S. GAAP.

*2 Shareholders’ Equity Per Share is calculated using total ORIX Corporation Shareholders’ Equity.

*3 As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, as a result of presenting the assets and liabilities related to the business of the Target separately as “Assets of Discontinued Operations Held for Sale” and “Liabilities of Discontinued Operations Held for Sale,” respectively, Segment Assets, Short-term and Long-term Debt and Deposits as of June 30, 2026 are presented on a continuing operations basis, excluding the balances of the discontinued operations. The corresponding balances as of March 31, 2026 have also been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

Total assets increased 1% to ¥18,256,420 million compared to the end of the previous fiscal year primarily due to increases in equity method investments, assets of discontinued operations held for sale (mainly installment loans), and installment loans, partially offset by decreases in cash and cash equivalents and property under facility operations. In addition, segment assets increased 1% to ¥14,426,112 million compared to the end of the previous fiscal year.

Total liabilities were ¥13,413,847 million, relatively unchanged from the end of the previous fiscal year primarily due to increases in liabilities of discontinued operations held for sale (mainly deposits) and current and deferred income taxes, partially offset by decreases in long-term debt and other liabilities.

Shareholders’ equity increased 5% to ¥4,710,425 million compared to the end of the previous fiscal year.

- 6 -

Table of Contents

2. Financial Information

(1) Condensed Consolidated Balance Sheets (Unaudited)

(millions of yen)

Assets				As of March 31, 2026				As of June 30, 2026
Cash and Cash Equivalents					1,015,359				968,923
Restricted Cash					114,129				122,693
Net Investment in Leases					1,247,491				1,234,360
Installment Loans					1,488,263				1,534,403
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2026		¥78,020 million
June 30, 2026		¥92,664 million
Allowance for Credit Losses					(76,342	)			(67,284	)
Investment in Operating Leases					2,152,820				2,161,945
Investment in Securities					3,142,498				3,181,187
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2026		¥39,796 million
June 30, 2026		¥39,175 million
The amounts which are associated to available-for-sale debt securities are as follows:
March 31, 2026
Amortized Cost		¥3,230,567 million
Allowance for Credit Losses		¥(3,505) million
June 30, 2026
Amortized Cost		¥3,297,405 million
Allowance for Credit Losses		¥(3,358) million
Property under Facility Operations					779,075				746,746
Equity method investments					1,304,073				1,497,252
Trade Notes, Accounts and Other Receivable					495,080				466,570
Inventories					269,187				271,570
Office Facilities					189,279				176,686
Other Assets					2,686,462				2,699,340
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2026		¥1,163 million
June 30, 2026		¥578 million
Assets of Discontinued Operations Held for Sale					3,195,402				3,262,029
Total Assets					18,002,776				18,256,420
Liabilities and Equity
Short-term Debt					544,135				582,680
Deposits					2,330				2,448
Trade Notes, Accounts and Other Payable					354,995				325,684
Policy Liabilities and Policy Account Balances					1,943,710				1,984,095
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2026		¥138,027 million
June 30, 2026		¥155,186 million
Current and Deferred Income Taxes					684,072				730,499
Long-term Debt					5,799,160				5,726,122
Other Liabilities					1,107,475				1,055,648
Liabilities of Discontinued Operations Held for Sale					2,943,088				3,006,671
Total Liabilities					13,378,965				13,413,847
Redeemable Noncontrolling Interests					50,743				52,356
Commitments and Contingent Liabilities
Common Stock					221,111				221,111
Additional Paid-in Capital					235,239				235,898
Retained Earnings					3,502,509				3,714,666
Accumulated Other Comprehensive Income					605,110				659,866
Treasury Stock, at Cost					(81,469	)			(121,116	)
Total ORIX Corporation Shareholders’ Equity					4,482,500				4,710,425
Noncontrolling Interests					90,568				79,792
Total Equity					4,573,068				4,790,217
Total Liabilities and Equity					18,002,776				18,256,420

- 7 -

Table of Contents

Note 1: Breakdown of Accumulated Other Comprehensive Income (Loss)

		As of March 31, 2026				As of June 30, 2026
Accumulated Other Comprehensive Income (Loss)
Net unrealized gains (losses) on investment in securities			(618,351	)			(647,246	)
Impact of changes in policy liability discount rate			715,382				752,261
Debt valuation adjustments			242				235
Defined benefit pension plans			31,953				41,398
Foreign currency translation adjustments			469,262				498,988
Net unrealized gains on derivative instruments			6,622				14,230
Total			605,110				659,866

Note 2: As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, the assets and liabilities related to the business of the Target are presented separately as “Assets of Discontinued Operations Held for Sale” and “Liabilities of Discontinued Operations Held for Sale,” respectively. In addition, the prior-period balances of the assets and liabilities related to the business of the Target have been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

- 8 -

Table of Contents

(2) Condensed Consolidated Statements of Income (Unaudited)

(millions of yen)

		Three months ended June 30, 2025				Three months ended June 30, 2026
Revenues :
Finance revenues			66,221				72,591
Gains on investment securities and dividends			16,486				58,203
Operating leases			152,076				163,427
Life insurance premiums and related investment income			132,543				172,541
Sales of goods and real estate			110,952				126,917
Services income			268,695				282,949
Total Revenues			746,973				876,628
Expenses :
Interest expense			41,507				44,898
Costs of operating leases			99,784				105,466
Life insurance costs			94,237				130,618
Costs of goods and real estate sold			83,302				95,174
Services expense			146,730				155,706
Other (income) and expense			(1,068	)			3,745
Selling, general and administrative expenses			158,188				197,821
Provision for credit losses			3,244				(538	)
Write-downs of long-lived assets			1,004				9,819
Write-downs of securities			127				0
Total Expenses			627,055				742,709
Operating Income			119,918				133,919
Equity in Net Income of Equity method investments			19,440				207,918
Gains on Sales of Subsidiaries and Equity method investments and Liquidation Losses, net			6,308				64,313
Income from Continuing Operations before Income Taxes			145,666				406,150
Provision for Income Taxes			43,220				125,582
Net Income from Continuing Operations			102,446				280,568
Discontinued Operations
Income (Loss) from Discontinued Operations before Income Taxes			9,815				(334	)
Provision for Income Taxes			2,990				(4,742	)
Net Income from Discontinued Operations			6,825				4,408
Net Income			109,271				284,976
Net Income Attributable to the Noncontrolling Interests			1,933				5,065
Net Income (Loss) Attributable to the Redeemable Noncontrolling Interests			50				(921	)
Net Income Attributable to ORIX Corporation Shareholders			107,288				280,832

Note : As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, the results of operations of the Target are presented separately from continuing operations. The prior-period results of operations related to the business of the Target have also been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

- 9 -

Table of Contents

(3) Condensed Consolidated Statements of Comprehensive Income (Unaudited)

(millions of yen)

		Three months ended June 30, 2025				Three months ended June 30, 2026
Net Income :			109,271				284,976
Other comprehensive income (loss), net of tax:
Net change of unrealized gains (losses) on investment in securities			(61,363	)			(28,895	)
Impact of changes in policy liability discount rate			143,120				36,879
Net change of debt valuation adjustments			62				(7	)
Net change of defined benefit pension plans			5,465				9,433
Net change of foreign currency translation adjustments			(44,298	)			32,193
Net change of unrealized gains (losses) on derivative instruments			(7,172	)			7,619
Total other comprehensive income			35,814				57,222
Comprehensive Income			145,085				342,198
Comprehensive Income Attributable to the Noncontrolling Interests			701				6,731
Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests			(64	)			(121	)
Comprehensive Income Attributable to ORIX Corporation Shareholders			144,448				335,588

(4) Assumptions for Going Concern

There is no corresponding item.

(5) Significant Changes in Shareholders’ Equity

There is no corresponding item.

(6) Changes in Accounting Policies

There are no changes in accounting policies.

- 10 -

Table of Contents

(7) Segment Information (Unaudited)

The Group CEO, as the Chief Operating Decision Maker (“CODM”), regularly allocates management resources and assesses segment performance by using the amount equivalent to income before income taxes attributable to ORIX Corporation Shareholders of each business segment.

Beginning with the current consolidated fiscal year, the Company has reorganized its reportable segments into Japan & APAC, Infrastructure, USA & Europe, and Insurance, reflecting changes in the segments used by the CODM for resource allocation and performance evaluation purposes. In connection with this change, segment information for the previous fiscal year has been recast to conform to the current presentation.

An overview of the operations for each of the four operating segments follows below.

Japan & APAC		:		Financial services, fee-based businesses, and corporate investment
Infrastructure		:		Investment, development, operation, and asset management of real estate, aircraft, ships, and environmental & energy-related assets
USA & Europe		:		Financial services, investment, asset management, and advisory services
Insurance		:		Life insurance

The accounting policies of the segments are almost the same as accounting policies for condensed consolidated financial statements except for the treatment of income tax expenses, net income attributable to noncontrolling interests, and net income attributable to redeemable noncontrolling interests. The CODM evaluates segment performance based on the amount equivalent to income before income taxes attributable to ORIX Corporation Shareholders. Therefore, net income attributable to noncontrolling interests, net income attributable to redeemable noncontrolling interests, and income tax expenses are not included in segment profit or loss. Most of selling, general and administrative expenses, including compensation costs that are directly related to the revenue generating activities of each segment and excluding the expenses that should be borne by ORIX Group as a whole, have been accumulated by and charged to each segment. Gains and losses that management does not consider for evaluating the performance of the segments, such as certain interest expenses and certain foreign exchange gains or losses (included in other (income) and expense) are excluded from the segment profits or losses, and are regarded as corporate items.

Assets attributed to each segment are total assets except for certain cash and head office assets.

Effective from the current fiscal year, the Company has revised the method of allocating interest expense for certain transactions. Accordingly, segment figures for the previous fiscal year have been recast to conform to the current presentation.

On April 27, 2026, the Company decided to sell all shares in ORIX Bank Corporation (hereinafter, the “Target”), a consolidated subsidiary, to Daiwa Next Bank, Ltd. As a result of this decision, the operations of the Target, which had previously been reported as continuing operations, have been classified as discontinued operations in the current fiscal year in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations. Segment information presents amounts relating only to continuing operations and excludes the discontinued operations. Comparative segment information for the previous fiscal year has also been revised to reflect this change. For further details regarding discontinued operations, please refer to Note (8), “Discontinued Operations,” under “2. Quarterly Consolidated Financial Statements and Notes.”

- 11 -

Table of Contents

Segment information for the three months ended June 30, 2025 and three months ended June 30, 2026 is as follows:

		Millions of yen
		Three months ended June 30, 2025
		Japan & APAC				Infrastructure				USA & Europe				Insurance				Total
Finance revenues			38,426				2,558				25,511				38				66,533
Gains on investment securities and dividends			2,069				5,428				9,014				0				16,511
Operating leases			115,365				37,684				436				0				153,485
Life insurance premiums and related investment income			0				0				0				133,086				133,086
Sales of goods and real estate			65,224				44,468				187				0				109,879
Services income			51,408				147,761				68,440				0				267,609
Total Segment Revenues			272,492				237,899				103,588				133,124				747,103
Interest expense			13,325				10,458				11,878				127				35,788
Costs of operating leases			80,436				19,740				550				0				100,726
Life insurance costs			0				0				0				94,395				94,395
Costs of goods and real estate sold			45,773				36,862				87				0				82,722
Services expense			31,165				99,012				16,812				0				146,989
Other (income) and expense *			1,786				(5,268	)			2,259				(4	)			(1,227	)
Selling, general and administrative expenses			56,927				22,110				57,496				14,563				151,096
Provision for credit losses, and write-downs of long-lived assets and securities			2,818				30				1,547				(20	)			4,375
Total Segment Expenses			232,230				182,944				90,629				109,061				614,864
Equity in Net income (Loss) of equity method investments and others			11,939				13,452				(2,365	)			(0	)			23,026
Segment Profits			52,201				68,407				10,594				24,063				155,265
Significant non-cash items:
Depreciation and amortization			68,637				21,363				2,305				7,812				100,117
Increase in policy liabilities and policy account balances			0				0				0				83,836				83,836
Expenditures for long-lived assets			108,758				106,104				902				11				215,775

* Other (income) and expense includes items such as expenses of taxes and insurance premiums related to finance leases, impairment of goodwill and intangible assets, gains and losses on derivatives, and foreign exchange gains and losses.

		Millions of yen
		Three months ended June 30, 2026
		Japan & APAC				Infrastructure				USA & Europe				Insurance				Total
Finance revenues			39,462				7,660				26,196				36				73,354
Gains on investment securities and dividends			(1,571	)			249				59,637				0				58,315
Operating leases			122,625				41,068				1,138				0				164,831
Life insurance premiums and related investment income			0				0				0				173,086				173,086
Sales of goods and real estate			84,642				40,562				835				0				126,039
Services income			65,228				113,346				102,115				0				280,689
Total Segment Revenues			310,386				202,885				189,921				173,122				876,314
Interest expense			15,705				10,225				14,338				112				40,380
Costs of operating leases			85,855				19,466				1,193				0				106,514
Life insurance costs			0				0				0				130,686				130,686
Costs of goods and real estate sold			62,414				31,876				407				0				94,697
Services expense			43,162				89,922				21,940				0				155,024
Other (income) and expense *			5,839				(4,010	)			2,454				0				4,283
Selling, general and administrative expenses			63,381				24,155				86,377				14,390				188,303
Provision for credit losses, and write-downs of long-lived assets and securities			777				56				(1,143	)			(26	)			(336	)
Total Segment Expenses			277,133				171,690				125,566				145,162				719,551
Equity in Net income (Loss) of equity method investments and others			256,558				12,122				(1,355	)			(0	)			267,325
Segment Profits			289,811				43,317				63,000				27,960				424,088
Significant non-cash items:
Depreciation and amortization			75,599				21,231				3,220				5,339				105,389
Increase in policy liabilities and policy account balances			0				0				0				89,110				89,110
Expenditures for long-lived assets			119,241				58,269				4,821				70				182,401

* Other (income) and expense includes items such as expenses of taxes and insurance premiums related to finance leases, impairment of goodwill and intangible assets, gains and losses on derivatives, and foreign exchange gains and losses.

- 12 -

Table of Contents

Segment information as of March 31, 2026 and June 30, 2026 is as follows:

		Millions of yen
		As of March 31, 2026
		Japan & APAC				Infrastructure				USA & Europe				Insurance				Total
Net investment in leases			1,194,048				52,913				433				0				1,247,394
Installment loans			680,872				35,097				757,103				15,191				1,488,263
Investment in operating leases			1,118,843				976,673				39,605				25,457				2,160,578
Investment in securities			80,956				154,105				618,885				2,288,116				3,142,062
Property under facility operations and servicing assets			119,002				656,847				82,749				0				858,598
Inventories			45,020				223,164				699				0				268,883
Advances for finance lease and operating lease			11,317				78,924				0				0				90,241
Equity method investments			457,931				685,773				71,582				46,002				1,261,288
Advances for property under facility operations			4,001				123,899				0				0				127,900
Goodwill, intangible assets acquired in business combinations			384,231				221,750				690,949				4,452				1,301,382
Other assets *			624,640				365,927				479,026				819,052				2,288,645
Segment Assets			4,720,861				3,575,072				2,741,031				3,198,270				14,235,234

* Other assets include cash and cash equivalents, restricted cash, allowance for credit losses, trade notes, accounts and other receivables, office facilities, loans to ORIX and its subsidiaries, and reinsurance recoverables.

		Millions of yen
		As of June 30, 2026
		Japan & APAC				Infrastructure				USA & Europe				Insurance				Total
Net investment in leases			1,195,852				38,066				427				0				1,234,345
Installment loans			666,718				36,032				815,710				15,942				1,534,402
Investment in operating leases			1,094,947				1,001,215				47,888				25,465				2,169,515
Investment in securities			74,888				157,938				613,298				2,334,336				3,180,460
Property under facility operations and servicing assets			88,449				652,466				86,126				0				827,041
Inventories			44,893				225,494				833				0				271,220
Advances for finance lease and operating lease			16,310				62,440				475				0				79,225
Equity method investments			613,377				716,723				78,689				46,648				1,455,437
Advances for property under facility operations			915				127,002				0				0				127,917
Goodwill, intangible assets acquired in business combinations			367,787				210,618				697,318				4,452				1,280,175
Other assets *			578,593				339,344				515,935				832,503				2,266,375
Segment Assets			4,742,729				3,567,338				2,856,699				3,259,346				14,426,112

* Other assets include cash and cash equivalents, restricted cash, allowance for credit losses, trade notes, accounts and other receivables, office facilities, loans to ORIX and its subsidiaries, and reinsurance recoverables.

- 13 -

Table of Contents

The reconciliation of segment totals to the condensed consolidated financial statement amounts is as follows:

		Millions of yen
		Three months ended June 30, 2025				Three months ended June 30, 2026
Segment revenues:
Total revenues for segments			747,103				876,314
Revenues related to corporate assets			18,376				21,540
Revenues from inter-segment transactions			(18,506	)			(21,226	)
Total consolidated revenues			746,973				876,628
Segment profits:
Total profits for segments			155,265				424,088
Corporate profits (losses)			(11,843	)			(22,575	)
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests			2,244				4,637
Total consolidated income from continuing operations before income taxes			145,666				406,150

- 14 -

Table of Contents

(8) Discontinued Operations Information (Unaudited)

On April 27, 2026, the Company entered into a share transfer agreement with Daiwa Next Bank, Ltd. to sell all shares in ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”). Pursuant to this agreement, the sale of the shares was completed on August 3, 2026. As a result, starting from the second quarter of the current fiscal year, the Target will be excluded from the Company’s scope of consolidation.

As a result of the decision to sell the shares, in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation.

Accordingly, in the condensed consolidated balance sheets, the assets and liabilities related to the business of the Target are presented separately as “Assets of Discontinued Operations Held for Sale” and “Liabilities of Discontinued Operations Held for Sale,” respectively. In addition, the prior-period balances of the assets and liabilities related to the business of the Target have been retrospectively reclassified to conform to the current-period presentation. Furthermore, in the condensed consolidated statements of income, the results of operations of the Target are presented separately from continuing operations. The prior-period results of operations related to the business of the Target have also been retrospectively reclassified to conform to the current-period presentation.

No loss was recognized upon classification as held for sale for the three months ended June 30, 2026.

The following table presents the classes of assets and liabilities of discontinued operations classified as held for sale as of March 31, 2026 and June 30, 2026.

(millions of yen)

		As of March 31, 2026				As of June 30, 2026
Assets
Cash and Cash Equivalents			319,586				318,612
Restricted Cash			2,025				1,991
Installment Loans			2,685,320				2,763,403
Allowance for Credit Losses			(3,852	)			(3,965	)
Investment in Operating Leases			0				0
Investment in Securities			166,331				155,952
Equity method investments			2,239				2,180
Trade Notes, Accounts and Other Receivable			826				879
Office Facilities			13,890				6,970
Other Assets			9,037				16,007
Total Assets of Discontinued Operations Held for Sale			3,195,402				3,262,029
Liabilities
Short-term Debt			28,100				56,100
Deposits			2,623,225				2,666,451
Trade Notes, Accounts and Other Payable			1,013				1,430
Current and Deferred Income Taxes			3,712				2,796
Long-term Debt			166,600				156,451
Other Liabilities			120,438				123,443
Total Liabilities of Discontinued Operations Held for Sale			2,943,088				3,006,671

- 15 -

Table of Contents

The following table presents the classes of net income from discontinued operations for the three months ended June 30, 2025 and 2026.

(millions of yen)

		Three months ended June 30, 2025				Three months ended June 30, 2026
Revenues :
Finance revenues			21,017				20,174
Gains (Losses) on investment securities and dividends			30				(18	)
Services income			621				620
Total Revenues			21,668				20,776
Expenses :
Interest expense			3,855				6,014
Services expense			1,940				2,002
Other (income) and expense			57				(3	)
Selling, general and administrative expenses			5,865				6,087
Provision for credit losses			119				107
Write-downs of long-lived assets			0				6,827
Total Expenses			11,836				21,034
Operating Income (Loss)			9,832				(258	)
Equity in Net Income (Loss) of Equity method investments			(17	)			(76	)
Income (Loss) from Discontinued Operations before Income Taxes			9,815				(334	)
Provision for Income Taxes			2,990				(4,742	)
Net Income from Discontinued Operations			6,825				4,408

(9) Cash flow information (Unaudited)

ORIX Group does not prepare the consolidated statements of cash flows for the three months ended June 30, 2026. Depreciation and amortization for the three months ended June 30, 2025 and 2026 were ¥101,250 million and ¥106,400 million, respectively.

Note: As a result of the decision to sell the shares of ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”), in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, the business of the Target has been classified as held for sale and a discontinued operation. Accordingly, as a result of presenting the results of the business of the Target separately from continuing operations, depreciation and amortization for the three months ended June 30, 2026 are presented on a continuing operations basis, excluding the results of the discontinued operations. The corresponding amounts for the three months ended June 30, 2025 have also been retrospectively reclassified to conform to the current-period presentation. For further information on the discontinued operations, see 2. Financial Information (8) Discontinued Operations Information (Unaudited).

(10) Subsequent Events

On April 27, 2026, the Company entered into a share transfer agreement with Daiwa Next Bank, Ltd. to sell all shares in ORIX Bank Corporation, a consolidated subsidiary of the Company (hereinafter, the “Target”). Pursuant to this agreement, the sale of the shares was completed on August 3, 2026. As a result, starting from the second quarter of the current fiscal year, the Target will be excluded from the Company’s scope of consolidation, and the Company expects to record a gain in connection with the sale in the consolidated financial statements.

- 16 -