ORIX Announces Interim (April 1-September 30) Net Income Up 9% Year on Year to 91.3 Billion Yen.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Nov 8, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - ORIX ORIX Corporation (オリックス株式会社 Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 8591; NYSE NYSE See: New York Stock Exchange : IX), a leading integrated financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group, today announced its highest net income for an interim period, with net income up 9% year on year to 91.3 billion yen in the first half (April 1-September 30, 2006) of the fiscal year ending March 31, 2007.
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2006.4-9 2006.4-9 2005.4-9 Change
US$ mil yen mil yen mil Y-o-Y
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Total Revenues 4,737 558,529 447,729 Up 25%
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Total Expenses 3,591 423,368 332,382 Up 27%
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Operating Income 1,146 135,161 115,347 Up 17%
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Income before
Income Taxes* 1,284 151,334 132,754 Up 14%
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Net Income 775 91,326 83,954 Up 9%
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ROE (Annualized) 18.4% 18.4% 21.7% --
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ROA (Annualized) 2.46% 2.46% 2.71% --
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Earnings/Share
(Basic) (US$/JPY) 8.60 1,014.29 957.87 Up 6%
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Earnings/Share
(Diluted)(US$/JPY) 8.29 977.73 907.93 Up 8%
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2006.9 2006.9 2006.3 Change on
US$ mil yen mil yen mil 2006.3
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Shrholdrs' Equity 8,773 1,034,339 953,646 Up 8%
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Total Assets 64,749 7,633,915 7,242,455 Up 5%
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Shreholdrs' Equity
Ratio 13.5% 13.5% 13.2% --
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Shreholdrs' Equity
per Share (US$/JPY) 97.29 11,470.78 10,608.97 Up 8%
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* U.S. dollar amounts have been calculated at 117.90 Yen to $1.00,
the approximate exchange rate prevailing at September 30, 20076.
Unless otherwise stated, all amounts shown are in millions of Japanese
yen or millions of U.S. dollars, except for per share data, which are
in single yen or dollars.
** "Income before income taxes" refers to "income before inc ome taxes,
minority interests in earnings of subsidiaries, discontinued operations
and extraordinary gain."
Highlights of Interim Results 1. Segment profits increased for the "Corporate Financial Services" segment due to the expansion of loans to corporate customers, as well as a lower "provision for doubtful receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed and probable loan losses" as a result of improved asset quality. 2. Segment profits increased for the "Real Estate" segment as more condominiums were sold to buyers, and due to the increase in revenues associated with rental activities, including office buildings, and real estate management operations, including hotels, training facilities and golf courses, in addition to contributions from the gains on sales of real estate under operating leases Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. . Segment profits increased for the "Real Estate-Related Finance" segment due to contributions from corporate loans, including non-recourse loans, and the loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. operations. 3. Segment profits increased for the "Other" segment due to an increase in revenues at the venture capital and principal investment operations, as well as the contribution from revenues associated with the securities operations. Segment profits increased for "The Americas A·mer·i·cas , the See America. " segment due to the contribution from revenues associated with the investment bank Houlihan Lokey that entered the ORIX Group in January January: see month. 2006, and the increase in revenues associated with corporate loans, as well as gains on investment securities and interest on investment securities. 4. Although revenues increased for the "Automobile Operations," segment profits were flat year on year as expenses related to an increase in staff were up in an effort to develop our customer base focusing on increasing our automobile-related business to individuals. Segment profits decreased for the "Rental Operations," "Life Insurance," and "Asia, Oceania Oceania (ōshēăn`ēə, –ā`nēə) or Oceanica (ōshēăn`ĭkə) and Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). " segments.In connection with the listing of Aozora Bank Aozora Bank, Ltd. (株式会社あおぞら銀行 , Ltd. on the Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. , the sale price of Aozora's stock has been announced, and we have taken into consideration the contribution to net income from the sale of a portion of our shares. Under such circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , in addition to our steady performance for the interim period, we have revised our original forecast for the fiscal year ending March 31, 2007 as follows. "Revenues" of 1,123 billion yen (up 19% compared with the fiscal year ended March 31, 2006), "income before income taxes" of 319 billion yen (up 27%), and "net income" of 195 billion yen (up 17%).
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(Millions of Yen)
Total Income before Net
Revenues Income Taxes* Income
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Previous Forecast (A) 1,100,000 295,000 177,000
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New Forecast (B) 1,123,000 319,000 195,000
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Change (B-A) 23,000 24,000 18,000
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Change (%) 2.1 8.1 10.2
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(Ref.) FY 2005 results 941,872 250,816 166,288
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*"Income before income taxes" refers to "income before income taxes,
minority interests in earnings of subsidiaries, discontinued
operations and extraordinary gain."
Note: The above forecasts have been made based upon the available information obtained on the date of this document. Actual results may differ from the forecasts depending upon various factors that may occur in the future. The forecasts for revenues and income before income taxes do not take into account the reclassification Reclassification The process of changing the class of mutual funds once certain requirements have been met. These requirements are generally placed on load mutual funds. Reclassification is not considered to be a taxable event. to discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , as it is difficult to forecast income from discontinued operations, net. For details on the interim earnings announcement please access "Interim Results 2006/9" and "Interim Results Supplementary Information 2006/9" from ORIX's website at: http://www.orix.co.jp/grp/ir_e/data/report/index.htm . ORIX will also hold a conference call in English 1. English - (Obsolete) The source code for a program, which may be in any language, as opposed to the linkable or executable binary produced from it by a compiler. The idea behind the term is that to a real hacker, a program written in his favourite programming language is on Wednesday, November 10, 2006 at 10:00 PM (Tokyo)/8:00 AM (EST EST electroshock therapy. EST abbr. electroshock therapy )/1:00 PM (London)/2:00 PM (Continent) to discuss the earnings announcement. For details on how to participate please access: http://www.orix.co.jp/grp/content/060930_ConfCallE.pdf . About ORIX Corporation ORIX Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 24 countries and regions worldwide, ORIX's activities include leasing, corporate and consumer finance, real estate-related finance and development, life insurance, and investment banking. For more details, please visit our web site at: www.orix.co.jp/grp/index_e.htm Source: ORIX Corporation Contact: ORIX Corporation Corporate Communications Raymond Spencer or Yui Takamatsu Tel: +81-3-5419-5102 Fax: +81-3-5419-5901 E-mail: orixir@orix.co.jp URL: www.orix.co.jp/index_e.htm Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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