[6-K] ORIX Corporation American Current Report (Foreign Issuer)
Fortive Corporation (NYSE: FTV) filed a Form 8-K to confirm the closing of the previously announced spin-off of its Precision Technologies segment. At 12:01 a.m. ET on 28 June 2025, the assets and liabilities of that segment were transferred to Ralliant Corporation, and Fortive distributed one Ralliant share for every three Fortive shares held at the 16 June 2025 record date. Ralliant now trades independently on the NYSE under the symbol “RAL”; fractional entitlements are being sold in the open market with net cash returned to Fortive holders.
To govern post-separation operations the companies executed a suite of definitive agreements on 27 June 2025, including: 1) Separation and Distribution Agreement, 2) Employee Matters Agreement, 3) Tax Matters Agreement, 4) Transition Services Agreement, 5) Intellectual Property Matters Agreement, and two license agreements (FBS and Fort Solutions). Full texts are filed as Exhibits 2.1 and 10.1-10.6 and are incorporated by reference.
Financing actions were finalized concurrently. On 27 June 2025 Ralliant drew $1.15 billion pro-rata from its previously arranged $1.3 billion senior unsecured delayed-draw term loan facilities ($700 m three-year and $600 m eighteen-month tranches). The proceeds were remitted to Fortive as cash consideration for the contributed businesses. Fortive disclosed that this cash will be used to repay outstanding indebtedness and execute a special-purpose share repurchase program authorized on 27 May 2025.
Leadership also transitioned: long-time President & CEO James A. Lico retired upon completion of the distribution, and the Board appointed Olumide Soroye (formerly head of the Intelligent Operating Solutions and Advanced Healthcare Solutions segments) as President, CEO, and a director effective immediately.
The filing furnishes, but does not file, a 30 June 2025 press release (Exhibit 99.1) containing estimated quarter-end operating information, and provides unaudited pro forma financial statements (Exhibit 99.2) reflecting Fortive’s post-spin balance sheet and earnings profile. These include a pro forma condensed balance sheet as of 28 March 2025 and condensed statements of earnings for 1Q25 and fiscal years 2024-2022.
No earnings guidance or quantitative outlook was provided within this 8-K. However, the transaction materially reshapes Fortive’s portfolio, supplies cash for deleveraging and shareholder returns, and establishes Ralliant with its own capital structure. The filing satisfies Items 1.01, 2.01, 2.02, 5.02, 8.01 and 9.01 disclosure requirements.
Fortive Corporation (NYSE: FTV) ha depositato un modulo 8-K per confermare la chiusura dello spin-off precedentemente annunciato del segmento Precision Technologies. Alle 12:01 ET del 28 giugno 2025, gli asset e le passività di tale segmento sono stati trasferiti a Ralliant Corporation, e Fortive ha distribuito una azione Ralliant ogni tre azioni Fortive detenute alla data record del 16 giugno 2025. Ralliant ora viene scambiata indipendentemente sul NYSE con il simbolo “RAL”; le frazioni di azioni sono vendute sul mercato aperto con il ricavato netto restituito agli azionisti Fortive.
Per regolare le operazioni post-separazione, le società hanno stipulato una serie di accordi definitivi il 27 giugno 2025, tra cui: 1) Accordo di Separazione e Distribuzione, 2) Accordo sui Rapporti con i Dipendenti, 3) Accordo Fiscale, 4) Accordo sui Servizi di Transizione, 5) Accordo sulla Proprietà Intellettuale e due accordi di licenza (FBS e Fort Solutions). I testi completi sono depositati come Allegati 2.1 e 10.1-10.6 e sono incorporati per riferimento.
Le operazioni di finanziamento sono state concluse contestualmente. Il 27 giugno 2025 Ralliant ha prelevato 1,15 miliardi di dollari in proporzione dalle sue strutture di prestito senior unsecured a termine con prelievo ritardato da 1,3 miliardi di dollari già predisposte (700 milioni per tre anni e 600 milioni per diciotto mesi). I proventi sono stati trasferiti a Fortive come corrispettivo in contanti per le attività conferite. Fortive ha comunicato che questa liquidità sarà utilizzata per rimborsare debiti in essere e attuare un programma speciale di riacquisto di azioni autorizzato il 27 maggio 2025.
Il management è anch’esso cambiato: il Presidente e CEO di lunga data James A. Lico si è ritirato al completamento della distribuzione, e il Consiglio di Amministrazione ha nominato Olumide Soroye (precedentemente responsabile dei segmenti Intelligent Operating Solutions e Advanced Healthcare Solutions) come Presidente, CEO e direttore con effetto immediato.
Il deposito include, ma non presenta formalmente, un comunicato stampa del 30 giugno 2025 (Allegato 99.1) contenente informazioni operative stimate a fine trimestre, e fornisce bilanci pro forma non revisionati (Allegato 99.2) che riflettono il profilo patrimoniale e di reddito di Fortive post-spin-off. Questi includono un bilancio pro forma sintetico al 28 marzo 2025 e rendiconti sintetici degli utili per il primo trimestre 2025 e gli anni fiscali 2024-2022.
Non sono state fornite indicazioni sugli utili né previsioni quantitative in questo 8-K. Tuttavia, la transazione rimodella significativamente il portafoglio di Fortive, fornisce liquidità per ridurre l’indebitamento e per la remunerazione degli azionisti, e stabilisce Ralliant con una propria struttura patrimoniale. Il deposito soddisfa i requisiti di divulgazione degli Items 1.01, 2.01, 2.02, 5.02, 8.01 e 9.01.
Fortive Corporation (NYSE: FTV) presentó un Formulario 8-K para confirmar el cierre del spin-off previamente anunciado de su segmento de Tecnologías de Precisión. A las 12:01 a.m. ET del 28 de junio de 2025, los activos y pasivos de ese segmento fueron transferidos a Ralliant Corporation, y Fortive distribuyó una acción de Ralliant por cada tres acciones de Fortive en poder a la fecha récord del 16 de junio de 2025. Ralliant ahora cotiza de forma independiente en la NYSE bajo el símbolo “RAL”; los derechos fraccionarios se están vendiendo en el mercado abierto y el efectivo neto se devuelve a los accionistas de Fortive.
Para gobernar las operaciones post-separación, las compañías ejecutaron un conjunto de acuerdos definitivos el 27 de junio de 2025, incluyendo: 1) Acuerdo de Separación y Distribución, 2) Acuerdo de Asuntos Laborales, 3) Acuerdo Fiscal, 4) Acuerdo de Servicios de Transición, 5) Acuerdo de Propiedad Intelectual, y dos acuerdos de licencia (FBS y Fort Solutions). Los textos completos están presentados como Exhibiciones 2.1 y 10.1-10.6 y se incorporan por referencia.
Las acciones de financiamiento se finalizaron simultáneamente. El 27 de junio de 2025, Ralliant utilizó $1.15 mil millones prorrateados de sus facilidades de préstamo a plazo senior no garantizado de $1.3 mil millones previamente arregladas ($700 millones a tres años y $600 millones a dieciocho meses). Los ingresos se remitieron a Fortive como consideración en efectivo por los negocios aportados. Fortive reveló que este efectivo será usado para pagar deudas pendientes y ejecutar un programa especial de recompra de acciones autorizado el 27 de mayo de 2025.
El liderazgo también cambió: el veterano Presidente y CEO James A. Lico se retiró tras completarse la distribución, y la Junta nombró a Olumide Soroye (anteriormente líder de los segmentos Intelligent Operating Solutions y Advanced Healthcare Solutions) como Presidente, CEO y director con efecto inmediato.
La presentación proporciona, pero no presenta formalmente, un comunicado de prensa del 30 de junio de 2025 (Exhibición 99.1) con información operativa estimada al cierre del trimestre, y provee estados financieros pro forma no auditados (Exhibición 99.2) que reflejan el balance y perfil de ganancias de Fortive post-spin-off. Estos incluyen un balance pro forma condensado al 28 de marzo de 2025 y estados condensados de resultados para el 1T25 y los años fiscales 2024-2022.
No se proporcionaron guías de ganancias ni perspectivas cuantitativas en este 8-K. Sin embargo, la transacción remodela materialmente el portafolio de Fortive, suministra efectivo para reducir deuda y retornos a accionistas, y establece a Ralliant con su propia estructura de capital. La presentación cumple con los requisitos de divulgación de los Items 1.01, 2.01, 2.02, 5.02, 8.01 y 9.01.
Fortive Corporation (NYSE: FTV)는 이전에 발표된 Precision Technologies 부문의 분할 완료를 확인하기 위해 Form 8-K를 제출했습니다. 2025년 6월 28일 동부시간 기준 오전 12시 1분에 해당 부문의 자산과 부채가 Ralliant Corporation으로 이전되었으며, Fortive는 2025년 6월 16일 기준일에 보유한 Fortive 주식 3주당 Ralliant 주식 1주를 배분했습니다. Ralliant는 현재 NYSE에서 “RAL” 심볼로 독립적으로 거래되고 있으며, 소수점 지분은 공개 시장에서 매각되어 순현금이 Fortive 주주에게 반환되고 있습니다.
분할 후 운영을 관리하기 위해 2025년 6월 27일 양사는 다음과 같은 최종 계약서들을 체결했습니다: 1) 분리 및 배분 계약, 2) 직원 관련 계약, 3) 세금 관련 계약, 4) 전환 서비스 계약, 5) 지적 재산권 관련 계약, 그리고 두 건의 라이선스 계약(FBS 및 Fort Solutions). 전체 문서는 Exhibit 2.1 및 10.1-10.6으로 제출되었으며 참조로 포함되어 있습니다.
자금 조달 조치도 동시에 완료되었습니다. 2025년 6월 27일 Ralliant는 이전에 마련된 13억 달러 규모의 무담보 선순위 지연 인출 기한부 대출 시설(3년 만기 7억 달러, 18개월 만기 6억 달러)에서 11억 5천만 달러를 비례하여 인출했습니다. 이 자금은 출자 사업에 대한 현금 대가로 Fortive에 송금되었습니다. Fortive는 이 현금을 미결제 부채 상환 및 2025년 5월 27일 승인된 특별 목적 주식 재매입 프로그램 실행에 사용할 것이라고 밝혔습니다.
경영진도 변경되었습니다: 오랜 기간 사장 겸 CEO였던 James A. Lico가 분배 완료와 함께 은퇴했으며, 이사회는 Olumide Soroye (이전에는 Intelligent Operating Solutions 및 Advanced Healthcare Solutions 부문 책임자)를 즉시 효력을 발휘하는 사장, CEO 및 이사로 임명했습니다.
이번 제출 서류에는 2025년 6월 30일자 보도자료(Exhibit 99.1)가 포함되어 있으나 공식 제출은 아니며, 분기 말 예상 운영 정보를 담고 있습니다. 또한 Fortive의 분할 후 재무 상태와 수익 프로필을 반영한 감사받지 않은 프로포르마 재무제표(Exhibit 99.2)를 제공합니다. 여기에는 2025년 3월 28일 기준 프로포르마 요약 재무상태표와 2025년 1분기 및 2024-2022 회계연도 요약 손익계산서가 포함됩니다.
이 8-K 내에서는 수익 가이드나 정량적 전망이 제공되지 않았습니다. 그러나 이번 거래는 Fortive의 포트폴리오를 크게 재편하고, 부채 축소 및 주주 환원을 위한 현금을 제공하며, Ralliant가 자체 자본 구조를 갖추도록 합니다. 제출 서류는 Items 1.01, 2.01, 2.02, 5.02, 8.01 및 9.01의 공시 요건을 충족합니다.
Fortive Corporation (NYSE : FTV) a déposé un formulaire 8-K pour confirmer la clôture de la scission précédemment annoncée de son segment Precision Technologies. À 00h01 ET le 28 juin 2025, les actifs et passifs de ce segment ont été transférés à Ralliant Corporation, et Fortive a distribué une action Ralliant pour trois actions Fortive détenues à la date d’enregistrement du 16 juin 2025. Ralliant est désormais cotée de manière indépendante à la NYSE sous le symbole « RAL » ; les droits fractionnaires sont vendus sur le marché libre avec le produit net reversé aux détenteurs d’actions Fortive.
Pour régir les opérations post-séparation, les sociétés ont signé une série d’accords définitifs le 27 juin 2025, incluant : 1) Accord de séparation et de distribution, 2) Accord relatif aux employés, 3) Accord fiscal, 4) Accord de services de transition, 5) Accord relatif à la propriété intellectuelle, ainsi que deux accords de licence (FBS et Fort Solutions). Les textes complets sont déposés en tant qu’Exhibits 2.1 et 10.1-10.6 et sont incorporés par référence.
Les opérations de financement ont été finalisées simultanément. Le 27 juin 2025, Ralliant a tiré 1,15 milliard de dollars au prorata de ses facilités de prêt à terme senior non garanties de 1,3 milliard de dollars précédemment arrangées (700 millions sur trois ans et 600 millions sur dix-huit mois). Les produits ont été versés à Fortive en contrepartie en espèces des activités apportées. Fortive a indiqué que ces liquidités seront utilisées pour rembourser les dettes en cours et exécuter un programme spécial de rachat d’actions autorisé le 27 mai 2025.
La direction a également changé : le président-directeur général de longue date James A. Lico a pris sa retraite à la suite de la distribution, et le conseil d’administration a nommé Olumide Soroye (anciennement responsable des segments Intelligent Operating Solutions et Advanced Healthcare Solutions) président, PDG et administrateur avec effet immédiat.
Le dépôt fournit, sans toutefois déposer formellement, un communiqué de presse daté du 30 juin 2025 (Exhibit 99.1) contenant des informations opérationnelles estimées à la fin du trimestre, et fournit des états financiers pro forma non audités (Exhibit 99.2) reflétant le bilan et le profil de résultats de Fortive après la scission. Ceux-ci incluent un bilan pro forma condensé au 28 mars 2025 et des états de résultats condensés pour le 1er trimestre 2025 et les exercices 2024-2022.
Aucune orientation sur les résultats ni perspectives quantitatives n’ont été fournies dans ce 8-K. Cependant, la transaction reconfigure de manière significative le portefeuille de Fortive, fournit des liquidités pour réduire l’endettement et rémunérer les actionnaires, et établit Ralliant avec sa propre structure de capital. Le dépôt satisfait aux exigences de divulgation des points 1.01, 2.01, 2.02, 5.02, 8.01 et 9.01.
Die Fortive Corporation (NYSE: FTV) hat ein Formular 8-K eingereicht, um den Abschluss des zuvor angekündigten Spin-offs ihres Precision Technologies Segments zu bestätigen. Am 28. Juni 2025 um 0:01 Uhr ET wurden die Vermögenswerte und Verbindlichkeiten dieses Segments auf die Ralliant Corporation übertragen, und Fortive verteilte eine Ralliant-Aktie für je drei Fortive-Aktien, die am Stichtag 16. Juni 2025 gehalten wurden. Ralliant wird nun unabhängig an der NYSE unter dem Symbol „RAL“ gehandelt; Bruchanteile werden am offenen Markt verkauft, der Nettobetrag wird an Fortive-Aktionäre zurückgegeben.
Zur Regelung der Abläufe nach der Abspaltung schlossen die Unternehmen am 27. Juni 2025 eine Reihe endgültiger Vereinbarungen ab, darunter: 1) Trennungs- und Verteilungsvereinbarung, 2) Mitarbeiterangelegenheiten, 3) Steuerangelegenheiten, 4) Übergangsleistungsvereinbarung, 5) Vereinbarung zu geistigem Eigentum sowie zwei Lizenzvereinbarungen (FBS und Fort Solutions). Die vollständigen Texte sind als Anlagen 2.1 und 10.1-10.6 eingereicht und werden durch Verweis einbezogen.
Die Finanzierungsmaßnahmen wurden gleichzeitig abgeschlossen. Am 27. Juni 2025 zog Ralliant 1,15 Milliarden US-Dollar anteilig aus zuvor arrangierten 1,3 Milliarden US-Dollar ungesicherten Senior-Term-Loan-Fazilitäten mit verzögerter Inanspruchnahme ab (700 Mio. USD Dreijahrestranche und 600 Mio. USD Achtzehnmonatstranche). Die Erlöse wurden Fortive als Barzahlung für die eingebrachten Geschäfte überwiesen. Fortive gab bekannt, dass dieses Bargeld zur Tilgung ausstehender Verbindlichkeiten und zur Durchführung eines am 27. Mai 2025 genehmigten Sonderrückkaufprogramms verwendet wird.
Auch die Führungsebene wechselte: Der langjährige Präsident und CEO James A. Lico trat mit Abschluss der Verteilung zurück, und der Vorstand ernannte Olumide Soroye (zuvor Leiter der Segmente Intelligent Operating Solutions und Advanced Healthcare Solutions) mit sofortiger Wirkung zum Präsidenten, CEO und Direktor.
Die Einreichung enthält, reicht jedoch nicht formell ein, eine Pressemitteilung vom 30. Juni 2025 (Anlage 99.1) mit geschätzten Betriebsinformationen zum Quartalsende und stellt ungeprüfte Pro-forma-Finanzberichte (Anlage 99.2) bereit, die die Bilanz und Ertragslage von Fortive nach dem Spin-off widerspiegeln. Diese umfassen eine pro-forma-kondensierte Bilanz zum 28. März 2025 sowie kondensierte Gewinn- und Verlustrechnungen für das 1. Quartal 2025 und die Geschäftsjahre 2024-2022.
In diesem 8-K wurden keine Gewinnprognosen oder quantitativen Ausblicke gegeben. Die Transaktion gestaltet jedoch das Portfolio von Fortive wesentlich um, stellt Mittel zur Schuldenreduzierung und Aktionärsrenditen bereit und etabliert Ralliant mit einer eigenen Kapitalstruktur. Die Einreichung erfüllt die Offenlegungspflichten der Punkte 1.01, 2.01, 2.02, 5.02, 8.01 und 9.01.
- $1.15 billion cash inflow from Ralliant gives Fortive immediate funds for debt reduction and a special share repurchase program.
- Orderly CEO succession with experienced internal executive Olumide Soroye limits disruption post-transaction.
- Comprehensive transition, tax, and IP agreements reduce post-spin operational uncertainty and protect shareholders.
- Fortive loses the Precision Technologies segment, which will no longer contribute revenue or earnings.
- Ralliant assumed $1.15 billion in new debt, introducing leverage risk for shareholders of the newly listed entity.
- Leadership change always carries execution and cultural risk during a major corporate restructuring.
Insights
TL;DR: Spin-off delivers $1.15 bn cash to Fortive, enabling debt pay-down and buybacks; portfolio now leaner with new CEO in place.
The completion of the Ralliant separation removes Precision Technologies from Fortive’s consolidated results, simplifying the remaining portfolio around Intelligent Operating Solutions and Advanced Healthcare Solutions. The $1.15 billion cash proceeds enhance liquidity and accelerate the deleveraging/share-repurchase agenda approved in May, potentially supporting EPS accretion despite the loss of segment earnings. Definitive post-spin agreements limit transitional friction, while pro forma statements give investors visibility into the go-forward entity. Overall, the event is strategically positive, although future revenue will exclude the divested operations.
TL;DR: Board executes orderly CEO succession concurrent with complex separation; governance risk appears contained.
Fortive managed a simultaneous spin-off and leadership hand-off without triggering Rule 404 related-party concerns. Olumide Soroye’s elevation from segment president offers continuity and deep operational knowledge. The extensive contractual framework—Employee, Tax, IP and Transition agreements—reflects best-practice separation governance, delineating liabilities and services post-distribution. No undisclosed arrangements or family relationships are reported. From a governance standpoint, the transaction was executed in a transparent, shareholder-friendly manner, though execution and integration of service agreements will require ongoing oversight.
Fortive Corporation (NYSE: FTV) ha depositato un modulo 8-K per confermare la chiusura dello spin-off precedentemente annunciato del segmento Precision Technologies. Alle 12:01 ET del 28 giugno 2025, gli asset e le passività di tale segmento sono stati trasferiti a Ralliant Corporation, e Fortive ha distribuito una azione Ralliant ogni tre azioni Fortive detenute alla data record del 16 giugno 2025. Ralliant ora viene scambiata indipendentemente sul NYSE con il simbolo “RAL”; le frazioni di azioni sono vendute sul mercato aperto con il ricavato netto restituito agli azionisti Fortive.
Per regolare le operazioni post-separazione, le società hanno stipulato una serie di accordi definitivi il 27 giugno 2025, tra cui: 1) Accordo di Separazione e Distribuzione, 2) Accordo sui Rapporti con i Dipendenti, 3) Accordo Fiscale, 4) Accordo sui Servizi di Transizione, 5) Accordo sulla Proprietà Intellettuale e due accordi di licenza (FBS e Fort Solutions). I testi completi sono depositati come Allegati 2.1 e 10.1-10.6 e sono incorporati per riferimento.
Le operazioni di finanziamento sono state concluse contestualmente. Il 27 giugno 2025 Ralliant ha prelevato 1,15 miliardi di dollari in proporzione dalle sue strutture di prestito senior unsecured a termine con prelievo ritardato da 1,3 miliardi di dollari già predisposte (700 milioni per tre anni e 600 milioni per diciotto mesi). I proventi sono stati trasferiti a Fortive come corrispettivo in contanti per le attività conferite. Fortive ha comunicato che questa liquidità sarà utilizzata per rimborsare debiti in essere e attuare un programma speciale di riacquisto di azioni autorizzato il 27 maggio 2025.
Il management è anch’esso cambiato: il Presidente e CEO di lunga data James A. Lico si è ritirato al completamento della distribuzione, e il Consiglio di Amministrazione ha nominato Olumide Soroye (precedentemente responsabile dei segmenti Intelligent Operating Solutions e Advanced Healthcare Solutions) come Presidente, CEO e direttore con effetto immediato.
Il deposito include, ma non presenta formalmente, un comunicato stampa del 30 giugno 2025 (Allegato 99.1) contenente informazioni operative stimate a fine trimestre, e fornisce bilanci pro forma non revisionati (Allegato 99.2) che riflettono il profilo patrimoniale e di reddito di Fortive post-spin-off. Questi includono un bilancio pro forma sintetico al 28 marzo 2025 e rendiconti sintetici degli utili per il primo trimestre 2025 e gli anni fiscali 2024-2022.
Non sono state fornite indicazioni sugli utili né previsioni quantitative in questo 8-K. Tuttavia, la transazione rimodella significativamente il portafoglio di Fortive, fornisce liquidità per ridurre l’indebitamento e per la remunerazione degli azionisti, e stabilisce Ralliant con una propria struttura patrimoniale. Il deposito soddisfa i requisiti di divulgazione degli Items 1.01, 2.01, 2.02, 5.02, 8.01 e 9.01.
Fortive Corporation (NYSE: FTV) presentó un Formulario 8-K para confirmar el cierre del spin-off previamente anunciado de su segmento de Tecnologías de Precisión. A las 12:01 a.m. ET del 28 de junio de 2025, los activos y pasivos de ese segmento fueron transferidos a Ralliant Corporation, y Fortive distribuyó una acción de Ralliant por cada tres acciones de Fortive en poder a la fecha récord del 16 de junio de 2025. Ralliant ahora cotiza de forma independiente en la NYSE bajo el símbolo “RAL”; los derechos fraccionarios se están vendiendo en el mercado abierto y el efectivo neto se devuelve a los accionistas de Fortive.
Para gobernar las operaciones post-separación, las compañías ejecutaron un conjunto de acuerdos definitivos el 27 de junio de 2025, incluyendo: 1) Acuerdo de Separación y Distribución, 2) Acuerdo de Asuntos Laborales, 3) Acuerdo Fiscal, 4) Acuerdo de Servicios de Transición, 5) Acuerdo de Propiedad Intelectual, y dos acuerdos de licencia (FBS y Fort Solutions). Los textos completos están presentados como Exhibiciones 2.1 y 10.1-10.6 y se incorporan por referencia.
Las acciones de financiamiento se finalizaron simultáneamente. El 27 de junio de 2025, Ralliant utilizó $1.15 mil millones prorrateados de sus facilidades de préstamo a plazo senior no garantizado de $1.3 mil millones previamente arregladas ($700 millones a tres años y $600 millones a dieciocho meses). Los ingresos se remitieron a Fortive como consideración en efectivo por los negocios aportados. Fortive reveló que este efectivo será usado para pagar deudas pendientes y ejecutar un programa especial de recompra de acciones autorizado el 27 de mayo de 2025.
El liderazgo también cambió: el veterano Presidente y CEO James A. Lico se retiró tras completarse la distribución, y la Junta nombró a Olumide Soroye (anteriormente líder de los segmentos Intelligent Operating Solutions y Advanced Healthcare Solutions) como Presidente, CEO y director con efecto inmediato.
La presentación proporciona, pero no presenta formalmente, un comunicado de prensa del 30 de junio de 2025 (Exhibición 99.1) con información operativa estimada al cierre del trimestre, y provee estados financieros pro forma no auditados (Exhibición 99.2) que reflejan el balance y perfil de ganancias de Fortive post-spin-off. Estos incluyen un balance pro forma condensado al 28 de marzo de 2025 y estados condensados de resultados para el 1T25 y los años fiscales 2024-2022.
No se proporcionaron guías de ganancias ni perspectivas cuantitativas en este 8-K. Sin embargo, la transacción remodela materialmente el portafolio de Fortive, suministra efectivo para reducir deuda y retornos a accionistas, y establece a Ralliant con su propia estructura de capital. La presentación cumple con los requisitos de divulgación de los Items 1.01, 2.01, 2.02, 5.02, 8.01 y 9.01.
Fortive Corporation (NYSE: FTV)는 이전에 발표된 Precision Technologies 부문의 분할 완료를 확인하기 위해 Form 8-K를 제출했습니다. 2025년 6월 28일 동부시간 기준 오전 12시 1분에 해당 부문의 자산과 부채가 Ralliant Corporation으로 이전되었으며, Fortive는 2025년 6월 16일 기준일에 보유한 Fortive 주식 3주당 Ralliant 주식 1주를 배분했습니다. Ralliant는 현재 NYSE에서 “RAL” 심볼로 독립적으로 거래되고 있으며, 소수점 지분은 공개 시장에서 매각되어 순현금이 Fortive 주주에게 반환되고 있습니다.
분할 후 운영을 관리하기 위해 2025년 6월 27일 양사는 다음과 같은 최종 계약서들을 체결했습니다: 1) 분리 및 배분 계약, 2) 직원 관련 계약, 3) 세금 관련 계약, 4) 전환 서비스 계약, 5) 지적 재산권 관련 계약, 그리고 두 건의 라이선스 계약(FBS 및 Fort Solutions). 전체 문서는 Exhibit 2.1 및 10.1-10.6으로 제출되었으며 참조로 포함되어 있습니다.
자금 조달 조치도 동시에 완료되었습니다. 2025년 6월 27일 Ralliant는 이전에 마련된 13억 달러 규모의 무담보 선순위 지연 인출 기한부 대출 시설(3년 만기 7억 달러, 18개월 만기 6억 달러)에서 11억 5천만 달러를 비례하여 인출했습니다. 이 자금은 출자 사업에 대한 현금 대가로 Fortive에 송금되었습니다. Fortive는 이 현금을 미결제 부채 상환 및 2025년 5월 27일 승인된 특별 목적 주식 재매입 프로그램 실행에 사용할 것이라고 밝혔습니다.
경영진도 변경되었습니다: 오랜 기간 사장 겸 CEO였던 James A. Lico가 분배 완료와 함께 은퇴했으며, 이사회는 Olumide Soroye (이전에는 Intelligent Operating Solutions 및 Advanced Healthcare Solutions 부문 책임자)를 즉시 효력을 발휘하는 사장, CEO 및 이사로 임명했습니다.
이번 제출 서류에는 2025년 6월 30일자 보도자료(Exhibit 99.1)가 포함되어 있으나 공식 제출은 아니며, 분기 말 예상 운영 정보를 담고 있습니다. 또한 Fortive의 분할 후 재무 상태와 수익 프로필을 반영한 감사받지 않은 프로포르마 재무제표(Exhibit 99.2)를 제공합니다. 여기에는 2025년 3월 28일 기준 프로포르마 요약 재무상태표와 2025년 1분기 및 2024-2022 회계연도 요약 손익계산서가 포함됩니다.
이 8-K 내에서는 수익 가이드나 정량적 전망이 제공되지 않았습니다. 그러나 이번 거래는 Fortive의 포트폴리오를 크게 재편하고, 부채 축소 및 주주 환원을 위한 현금을 제공하며, Ralliant가 자체 자본 구조를 갖추도록 합니다. 제출 서류는 Items 1.01, 2.01, 2.02, 5.02, 8.01 및 9.01의 공시 요건을 충족합니다.
Fortive Corporation (NYSE : FTV) a déposé un formulaire 8-K pour confirmer la clôture de la scission précédemment annoncée de son segment Precision Technologies. À 00h01 ET le 28 juin 2025, les actifs et passifs de ce segment ont été transférés à Ralliant Corporation, et Fortive a distribué une action Ralliant pour trois actions Fortive détenues à la date d’enregistrement du 16 juin 2025. Ralliant est désormais cotée de manière indépendante à la NYSE sous le symbole « RAL » ; les droits fractionnaires sont vendus sur le marché libre avec le produit net reversé aux détenteurs d’actions Fortive.
Pour régir les opérations post-séparation, les sociétés ont signé une série d’accords définitifs le 27 juin 2025, incluant : 1) Accord de séparation et de distribution, 2) Accord relatif aux employés, 3) Accord fiscal, 4) Accord de services de transition, 5) Accord relatif à la propriété intellectuelle, ainsi que deux accords de licence (FBS et Fort Solutions). Les textes complets sont déposés en tant qu’Exhibits 2.1 et 10.1-10.6 et sont incorporés par référence.
Les opérations de financement ont été finalisées simultanément. Le 27 juin 2025, Ralliant a tiré 1,15 milliard de dollars au prorata de ses facilités de prêt à terme senior non garanties de 1,3 milliard de dollars précédemment arrangées (700 millions sur trois ans et 600 millions sur dix-huit mois). Les produits ont été versés à Fortive en contrepartie en espèces des activités apportées. Fortive a indiqué que ces liquidités seront utilisées pour rembourser les dettes en cours et exécuter un programme spécial de rachat d’actions autorisé le 27 mai 2025.
La direction a également changé : le président-directeur général de longue date James A. Lico a pris sa retraite à la suite de la distribution, et le conseil d’administration a nommé Olumide Soroye (anciennement responsable des segments Intelligent Operating Solutions et Advanced Healthcare Solutions) président, PDG et administrateur avec effet immédiat.
Le dépôt fournit, sans toutefois déposer formellement, un communiqué de presse daté du 30 juin 2025 (Exhibit 99.1) contenant des informations opérationnelles estimées à la fin du trimestre, et fournit des états financiers pro forma non audités (Exhibit 99.2) reflétant le bilan et le profil de résultats de Fortive après la scission. Ceux-ci incluent un bilan pro forma condensé au 28 mars 2025 et des états de résultats condensés pour le 1er trimestre 2025 et les exercices 2024-2022.
Aucune orientation sur les résultats ni perspectives quantitatives n’ont été fournies dans ce 8-K. Cependant, la transaction reconfigure de manière significative le portefeuille de Fortive, fournit des liquidités pour réduire l’endettement et rémunérer les actionnaires, et établit Ralliant avec sa propre structure de capital. Le dépôt satisfait aux exigences de divulgation des points 1.01, 2.01, 2.02, 5.02, 8.01 et 9.01.
Die Fortive Corporation (NYSE: FTV) hat ein Formular 8-K eingereicht, um den Abschluss des zuvor angekündigten Spin-offs ihres Precision Technologies Segments zu bestätigen. Am 28. Juni 2025 um 0:01 Uhr ET wurden die Vermögenswerte und Verbindlichkeiten dieses Segments auf die Ralliant Corporation übertragen, und Fortive verteilte eine Ralliant-Aktie für je drei Fortive-Aktien, die am Stichtag 16. Juni 2025 gehalten wurden. Ralliant wird nun unabhängig an der NYSE unter dem Symbol „RAL“ gehandelt; Bruchanteile werden am offenen Markt verkauft, der Nettobetrag wird an Fortive-Aktionäre zurückgegeben.
Zur Regelung der Abläufe nach der Abspaltung schlossen die Unternehmen am 27. Juni 2025 eine Reihe endgültiger Vereinbarungen ab, darunter: 1) Trennungs- und Verteilungsvereinbarung, 2) Mitarbeiterangelegenheiten, 3) Steuerangelegenheiten, 4) Übergangsleistungsvereinbarung, 5) Vereinbarung zu geistigem Eigentum sowie zwei Lizenzvereinbarungen (FBS und Fort Solutions). Die vollständigen Texte sind als Anlagen 2.1 und 10.1-10.6 eingereicht und werden durch Verweis einbezogen.
Die Finanzierungsmaßnahmen wurden gleichzeitig abgeschlossen. Am 27. Juni 2025 zog Ralliant 1,15 Milliarden US-Dollar anteilig aus zuvor arrangierten 1,3 Milliarden US-Dollar ungesicherten Senior-Term-Loan-Fazilitäten mit verzögerter Inanspruchnahme ab (700 Mio. USD Dreijahrestranche und 600 Mio. USD Achtzehnmonatstranche). Die Erlöse wurden Fortive als Barzahlung für die eingebrachten Geschäfte überwiesen. Fortive gab bekannt, dass dieses Bargeld zur Tilgung ausstehender Verbindlichkeiten und zur Durchführung eines am 27. Mai 2025 genehmigten Sonderrückkaufprogramms verwendet wird.
Auch die Führungsebene wechselte: Der langjährige Präsident und CEO James A. Lico trat mit Abschluss der Verteilung zurück, und der Vorstand ernannte Olumide Soroye (zuvor Leiter der Segmente Intelligent Operating Solutions und Advanced Healthcare Solutions) mit sofortiger Wirkung zum Präsidenten, CEO und Direktor.
Die Einreichung enthält, reicht jedoch nicht formell ein, eine Pressemitteilung vom 30. Juni 2025 (Anlage 99.1) mit geschätzten Betriebsinformationen zum Quartalsende und stellt ungeprüfte Pro-forma-Finanzberichte (Anlage 99.2) bereit, die die Bilanz und Ertragslage von Fortive nach dem Spin-off widerspiegeln. Diese umfassen eine pro-forma-kondensierte Bilanz zum 28. März 2025 sowie kondensierte Gewinn- und Verlustrechnungen für das 1. Quartal 2025 und die Geschäftsjahre 2024-2022.
In diesem 8-K wurden keine Gewinnprognosen oder quantitativen Ausblicke gegeben. Die Transaktion gestaltet jedoch das Portfolio von Fortive wesentlich um, stellt Mittel zur Schuldenreduzierung und Aktionärsrenditen bereit und etabliert Ralliant mit einer eigenen Kapitalstruktur. Die Einreichung erfüllt die Offenlegungspflichten der Punkte 1.01, 2.01, 2.02, 5.02, 8.01 und 9.01.
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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 June 2025
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 ☐
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Material Contained in this Report
| 1. |
“ORIX Reenters into a Partial Share Transfer Agreement of Greenko Energy and Decides on New Investment in AM Green (Luxembourg)” | |||||
| 2. |
“Filing of Extraordinary Report” |
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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 : June 30, 2025 |
By | /s/ Yasuaki Mikami | ||
| Yasuaki Mikami | ||||
| Member of the Board of Directors Senior Managing Executive Officer Responsible for Corporate Function Unit Responsible for Work Style Reform Project ORIX Corporation | ||||
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ORIX Reenters into a Partial Share Transfer Agreement of Greenko Energy and Decides on New Investment in AM Green (Luxembourg)
TOKYO, Japan – June 30, 2025 – ORIX Corporation (“ORIX”) announced today that on June 29, 2025, it has decided to reenter into a share transfer agreement to sell 17.5% of the 20% share holdings of Greenko Energy Holdings (“Greenko”), an affiliate company of ORIX, to AM Green Power B.V., a wholly owned subsidiary of AM Green B.V. (“AMG”), which was established by the founders of Greenko and is a next generation energy company. Additionally, ORIX has decided to reenter into an agreement to invest in the convertible note issued by AM Green (Luxembourg) S.à.r.l (“AMG Lux”), the parent company that holds all shares of AMG on the same day.
ORIX had announced in January 2025 that it had entered into a share transfer agreement of Greenko and a new investment in AMG Lux *1, but because the conditions precedent had not been satisfied, the agreement had been terminated in April 2025*2. However, after further consideration among related parties, we have decided to reenter into this agreement.
Regulatory approvals under the Indian Competition Act have already been obtained, and ORIX plans to complete the partial transfer of Greenko shares and underwriting of the convertible notes by the end of July 2025.
1. Purpose of the transaction
Greenko owns major renewable energy companies in India and operates renewable energy power generation facilities with a total installed capacity of 7.3 GW*3, including solar, wind, and hydroelectric power generation. In addition, Greenko is advancing the development of large-scale pumped storage power generation.
ORIX has supported Greenko’s business growth since it invested in March 2021*4. ORIX decided to sell 17.5% of the 20% share holdings in Greenko and invest in AMG Lux as part of its capital recycling strategy. ORIX aims to invest in the next generation of the energy sector (including green molecule) by using part of these funds, an area expected to grow rapidly as the world works towards achieving decarbonization.
AMG is a new platform focusing on decarbonization and green solutions and was established in 2023 by the founders/promoters of Greenko, Anil Chalamalasetty and Mahesh Kolli. AMG has been developing projects to produce green hydrogen*5 and green ammonia*6, and to manufacture water electrolysis equipment that is essential for green hydrogen production. AMG has plans to produce 5 million tonnes per annum (MTPA) of green ammonia, with the first 1 MTPA project located in Kakinada (in Andhra Pradesh, India) which is under construction with targeted commissioning during the 2nd half of 2026. AMG has also signed binding term sheets with the likes of Uniper SE, an energy company, and Yara Clean Ammonia, a trader and distributor of ammonia, to supply green ammonia to Europe. In the future, AMG aims to expand its business to include the production of green hydrogen, synthetic fuels such as methanol, as well as the production of SAF (Sustainable Aviation Fuel) using biomass-derived raw materials, and to become a platform company that builds a value chain for next generation energy.
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ORIX has positioned its renewable energy business as one of its key strategic growth areas. In addition to expanding its power generation business in Japan, including solar, geothermal, and wind power, ORIX is also developing its power generation business around the world. In 2023, ORIX made Elawan Energy S.L., a global renewable energy company headquartered in Spain, a wholly owned ORIX Group company*7. The company currently has approximately 4.7GW*3 of renewable energy capacity worldwide.
As the energy transition from the existing system based on fossil fuels to clean energy is progressing as part of the journey towards a decarbonized society, the market for next generation energy is expected to grow significantly. Through this investment, ORIX aims to expand its business areas in the energy transition field while striving to contribute to the realization of a sustainable society through its corporate activities.
| *1 | ORIX Signs Share Transfer Agreement of Greenko Energy and New Investment in its Affiliate Company (January 20, 2025) |
| *2 | (Cancellation of Announced Disclosure) Notice of Termination of Share Transfer Agreement of Greenko Energy and New Investments in AM Green (April 25, 2025) |
| *3 | As of the end of March 2025 |
| *4 | ORIX Completes Acquisition of Shares in Major Indian Renewable Energy Operator Greenko (March 8, 2021) |
| *5 | Hydrogen produced by electrolysis of water using renewable energy |
| *6 | Ammonia made from green hydrogen, which is produced using renewable energy |
| *7 | ORIX to Make Elawan Energy Wholly-Owned Subsidiary (December 14, 2022) |
2. Overview of the Affiliate Company Transferring the Shares
|
(1) |
Name |
Greenko Energy Holdings | ||
|
(2) |
Location |
Mauritius Islands | ||
|
(3) |
Name and title of representative |
Anil Kumar Chalamalasetty (Founder and CEO) | ||
|
(4) |
Description of business |
Renewable energy business | ||
|
(5) |
Established |
2004 |
3. Overview of the Company to Which the Shares are Being Transferred
|
(1) |
Name |
AM Green Power B.V. | ||
|
(2) |
Location |
Netherlands | ||
|
(3) |
Name and title of representative |
Anil Kumar Chalamalasetty (Founder and CEO) | ||
|
(4) |
Description of business |
Renewable energy business | ||
|
(5) |
Established |
2023 |
4. Shareholding Ratio and Stock Transfer Price of the Affiliate Company
|
(1) |
Shareholding ratio |
20% of outstanding shares (of which 17.5% will be transferred; shareholding ratio after transaction: 2.5%) | ||
|
(2) |
Transfer price |
1,282 million U.S. dollars |
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5. Overview of the Company to Underwrite the Convertible Note
|
(1) |
Name |
AM Green (Luxembourg) S.à.r.l | ||
|
(2) |
Location |
Luxembourg | ||
|
(3) |
Name and title of representative |
Anil Kumar Chalamalasetty (Founder and CEO) | ||
|
(4) |
Description of business |
Next-generation energy production business | ||
|
(5) |
Established |
2023 |
6. Underwriting Amount of the Convertible Note
|
(1) |
Total amount of the convertible note |
Approximately 731 million U.S. dollars |
7. Schedule of the Transaction
|
(1) |
Date of agreement for transfer of shares and subscription of the convertible note |
June 29, 2025 | ||
|
(2) |
Date of execution for transfer of shares and subscription of the convertible note |
July 2025 (scheduled) |
8. Future Outlook
The amount of the gain on the sale of this transaction will fluctuate due to factors such as exchange rate fluctuations. Therefore, the amount of the impact on the current business performance is undetermined.
If the sale price is estimated using the exchange rate as of June 27, 2025, (USD 1 = ¥144.58), ORIX expects to record a gain on the sale of approximately ¥93.4 billion (including the valuation gain on the 2.5% stake which we will continue to hold) in the consolidated financial statements in the second quarter for the fiscal year ending March 31, 2026.
Regarding the impact of the gain on the sale of this transaction as well as the valuation gain to the consolidated financial forecast, after considering not only this transaction but more comprehensively, we have decided not to change our full-year consolidated financial forecast at this time.
We will monitor updates to our business performance and fluctuations in the external environment, and if a change in our full-year consolidated financial forecast becomes necessary, we will disclose this in a timely manner.
Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
Tel: +81-3-3435-3121
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About ORIX Group:
ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 34,000 people. ORIX Group unites globally around its Purpose: “Finding Paths. Making Impact.” combining diverse expertise and innovative thinking to help our world develop in a sustainable way.
For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2025)
Caution Concerning Forward Looking Statements:
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 that 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 under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2024 – March 31, 2025” furnished on Form 6-K.
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Filing of Extraordinary Report
TOKYO, Japan — June 30, 2025 — ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, announced today that it filed an extraordinary report with the Director-General of the Kanto Financial Bureau in Japan concerning the transfer of equity method investee (transfer of shares).
| 1. | Reason for Filing |
This extraordinary report is being submitted due to the occurrence of an event materially affecting our Group’s financial position, results of operations and cash flows, pursuant to Article 24-5, paragraph (4) of the Financial Instruments and Exchange Act and Article 19, paragraph (2), item (12) of the Cabinet Office Ordinance on Disclosure of Corporate Information.
| 2. | Description of Report |
(1) Date of occurrence of the event
June 29, 2025 (date of agreement)
(2) Content of such event
On June 29, 2025, we decided to enter into a share transfer agreement with AM Green Power B.V. (“AM Green Power”) and to transfer a portion of its shares in Greenko Energy Holdings(“Greenko”), an equity method investee of ORIX Corporation, to AM Green Power. The share transfer is scheduled to be completed by the end of July 2025. As a result of this transaction, Greenko will no longer be accounted for as an equity method investee of ORIX Corporation.
(3) Impact of the event on income
The amount of the gain on the sale of this transaction will fluctuate due to factors such as exchange rate fluctuations. Therefore, the amount of the impact on the current business performance is undetermined.
If the sale price is estimated using the exchange rate as of June 27, 2025 (USD 1 = ¥144.58), we expect to record approximately ¥92.2 billion in “gains on sales of affiliates” as an extraordinary gain in the non-consolidated financial statements for the fiscal year ending March 31, 2026. In the consolidated financial statements for the fiscal year ending March 31, 2026, we expect to record approximately ¥93.4 billion in “gains on sales of subsidiaries and equity method investments and liquidation losses, net” and “gains on investment securities and dividends”.
FAQ
What did Fortive (FTV) distribute to its shareholders in the spin-off?
How much cash did Fortive receive from Ralliant as part of the separation?
What will Fortive do with the $1.15 billion cash consideration?
Who is the new CEO of Fortive after the separation?
Where can investors find Fortive’s post-spin pro forma financials?
