How many share-based compensation points does Yanagawa hold after this Form 4?

After this transaction, Yanagawa is reported as indirectly holding 10,000 Share-based Compensation Points. This total reflects his position in ORIX Corporation’s share-based compensation program through the Board Incentive Plan Trust following the 2,000-point award.

What do ORIX share-based compensation points represent for Noriyuki Yanagawa?

Each Share-based Compensation Point represents a right to receive one share of ORIX Common Stock. According to the disclosure, Yanagawa becomes entitled to the stated amount of Common Stock upon retirement, aligning the award with his long-term service.

ORIX director reports 2,000 share-based points

ORIX Corporation director Noriyuki Yanagawa reported an indirect derivative transaction tied to the company’s share-based compensation program.

Filing Impact

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Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

Rhea-AI Filing Summary

ORIX Corporation director Noriyuki Yanagawa reported an indirect derivative transaction tied to the company’s share-based compensation program. A Board Incentive Plan Trust credited him with 2,000 Share-based Compensation Points, each representing a right to receive one share of Common Stock upon retirement. Following this award, his indirect holdings under the plan total 10,000 Share-based Compensation Points. The filing classifies this as an “other” type of transaction rather than an open-market buy or sell, reflecting the mechanics of the long-term incentive structure.

Insider Trade Summary

Other: 2,000 shares

Other 1 txn

Insider Yanagawa Noriyuki

Role Director

Type	Security	Shares	Price	Value
Other	Share-based Compensation Points	2,000	$0.00	$0.00

Holdings After Transaction: Share-based Compensation Points — 10,000 contracts (Indirect, By Board Incentive Plan Trust)

Footnotes (2)

F1. Each point represents a right to receive one share of Common Stock.
F2. The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program, which entitles the Reporting Person to receive the stated amount of Common Stock upon retirement.

Key Figures

Share-based Compensation Points awarded: 2,000 points Points held after transaction: 10,000 points Underlying Common Stock rights: 1 share per point +1 more

4 metrics

Share-based Compensation Points awarded 2,000 points Derivative transaction on 2026-06-23

Points held after transaction 10,000 points Total Share-based Compensation Points following transaction

Underlying Common Stock rights 1 share per point Each point represents right to one share

Transaction code J Other acquisition or disposition of derivative security

Key Terms

Share-based Compensation Points, Board Incentive Plan Trust, share-based compensation program, derivative securities

4 terms

Board Incentive Plan Trust financial

"nature_of_ownership: By Board Incentive Plan Trust"

derivative securities financial

"The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program"

Financial contracts whose value is tied to the price or performance of another asset, such as a stock, bond, commodity, index, or currency; examples include options, futures and swaps. They matter to investors because they let you protect against price swings, bet on future moves or gain larger exposure with less upfront cash—like using a lever or insurance policy on an investment—so they can amplify gains and losses and help manage portfolio risk.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ORIX (IX) director Noriyuki Yanagawa report?

Director Noriyuki Yanagawa reported an indirect derivative transaction involving 2,000 Share-based Compensation Points. These points were credited under ORIX Corporation’s share-based compensation program and are linked to future delivery of Common Stock upon his retirement.

How is Yanagawa’s ownership characterized in this ORIX (IX) Form 4 filing?

The filing classifies Yanagawa’s interest as indirect, held “By Board Incentive Plan Trust.” The transaction involves derivative securities under a share-based compensation program rather than direct ownership of Common Stock in his own name at this stage.

Was Yanagawa’s ORIX transaction a buy or sell of common shares?

The transaction is coded “J” for other acquisition or disposition and is not marked as a buy or sell. It reflects share-based compensation points under a Board Incentive Plan Trust, rather than an open-market purchase or sale of ORIX Common Stock.

What is the nature of the derivative security in Yanagawa’s ORIX Form 4?

The derivative security is labeled “Share-based Compensation Points” with an underlying security of Common Stock. The disclosure states these points are granted under ORIX Corporation’s share-based compensation program and convert into the stated shares upon Yanagawa’s retirement.

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

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Accepted by SEC EDGAR 06/25/2026 - 06:30 AM EDT

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Yanagawa Noriyuki

(Last)

(First)

(Middle)

WORLD TRADE CENTER BUILDING, SOUTH TOWER

2-4-1 HAMAMATSU-CHO, MINATO-KU

(Street)

TOKYO

JAPAN

105-5135

(City)

(State)

(Zip)

JAPAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
ORIX CORP [ IX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol
[TSE: 8591]

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Share-based Compensation Points	⁽¹⁾	06/23/2026		J		2,000		⁽²⁾	⁽²⁾	Common Stock	2,000	$0	10,000	I	By Board Incentive Plan Trust

Explanation of Responses:

1. Each point represents a right to receive one share of Common Stock.

2. The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program, which entitles the Reporting Person to receive the stated amount of Common Stock upon retirement.

	/s/ Tomohiko Ishihara as Attorney-in-Fact for Noriyuki Yanagawa	06/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR