ORIX Announces Net Income Up 82% in the Fiscal Year Ended March 31, 2006.Tokyo, Japan, May 12, 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 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 results for the fiscal year ended March 31, 2006. Revenues increased 2% year on year to 947.8 billion yen. Although "real estate sales" decreased year on year, revenues from "direct financing direct financing The raising of funds without using an intermediary. For example, a firm may decide to save an underwriter's fee by offering new securities directly to investors. leases," "operating leases," "interest on loans and investment securities," "brokerage commissions and net gains on investment securities," "life insurance premiums and related investment income," "gains on sales of real estate under operating leases," and "other operating revenues" were up compared to the previous fiscal year. Expenses were down 8% to 730.5 billion yen compared with the previous fiscal year. Although "interest expense," "costs of operating leases," "other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ," and "selling, general and administrative expenses" increased, "life insurance costs," "costs of real estate sales," "provision for doubtful receivables and probable loan losses," "write-downs of long-lived assets," and "write-downs of securities" were down year on year. As a result, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased 65% to 217.3 billion yen, "equity in net income of affiliates" was up due mainly to the contribution from overseas equity method affiliates, income before income taxes* rose 63% to 252.2 billion yen, and net income grew 82% to 166.4 billion yen exceeding 100 billion yen for the first time.
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(Millions of U.S. dollars/Millions of yen except per share amounts)
Change on
2006.3 US$ 2006.3 2005.3 2005.3
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Total Revenues 8,069 947,824 928,703 +2%
Operating Income 1,850 217,338 131,713 +65%
Income before
Income Taxes* 2,147 252,150 155,103 +63%
Net Income 1,416 166,388 91,496 +82%
Earnings/Share
(Basic) (US$/JPY) 16.04 1,883.89 1,087.82 +73%
Earnings/Share
(Diluted)(US$/JPY) 15.24 1,790.30 1,002.18 +79%
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Change on
2006.3 US$ 2006.3 2005.3 2005.3
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Shrholdrs' Equity 8,118 953,646 727,333 +31%
Total Assets 61,654 7,242,455 6,068,953 +19%
Shreholdrs' Equity
per Share (US$/JPY) 90.31 10,608.97 8,322.96 +27%
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* "Income before income taxes" refers to "income before discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , income taxes and minority interests in earnings of subsidiaries." ** U.S. dollar amounts have been calculated at 117.47 Yen to $1.00, the approximate exchange rate prevailing at March 31, 2006. Unless otherwise stated, all amounts shown are in millions of Japanese yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. or millions of U.S. dollars, except for per share data, which are in single yen or dollars. Segment profits were up year on year for all nine segments. The "Corporate Financial Services" segment was up thanks to the expansion of loans to corporate customers and direct financing leases. The "Automobile Operations" segment, centering on maintenance leases, expanded the number of vehicles under management to 575 thousand. The "Real Estate-Related Finance" segment was up due to the increase in corporate loans, including non-recourse loans, and the contribution from 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. The "Real Estate" segment was up due to the contribution from gains associated with the sales of real estate under operating leases. The "Other" segment was higher due to gains on sales of companies invested in as part of our corporate rehabilitation rehabilitation: see physical therapy. business and affiliates. "The Americas" segment was up due to the contribution from the gains on the sale of a business and real estate. Finally, the "Asia, Oceania and Europe" segment was up year on year due to the steady performance of automobile and machine equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
Operating assets Operating Assets Another term for working capital. were up 14% to 5,858.3 billion yen and total assets were up 19% to 7,242.5 billion yen on March 31, 2005. Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. increased 31% to 953.6 billion yen on March 31, 2005 and the shareholders' equity ratio was 13.2% compared to 12.0% at March 31, 2005. ROE rose from 14.2% to 19.8% and ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). improved from 1.56% to 2.50% compared to the previous fiscal year. For the fiscal year ending March 31, 2007, we forecast "revenues" of 1,100 billion yen (up 16% compared with the fiscal year ended March 31, 2006), "income before income taxes" of 295 billion yen (up 17%) and "net income" of 177 billion yen (up 6%). For details on the annual earnings announcement please access "Annual Results 2006/3" and "Annual Results Supplementary Information 2006/3" from ORIX's web site at: http://www.orix.co.jp/grp/ir_e/data/index.htm ORIX will also hold a conference call in English on Monday, May 15, 2006 at 9:30 PM (Tokyo)/8:30 AM (EST EST electroshock therapy. EST abbr. electroshock therapy )/1:30 PM (London)/2:30 PM (Continent) to discuss the earnings announcement. For details on how to participate please access http://www.orix.co.jp/grp/ir_e/data/index.htm 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 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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