ORIX Announces Net Income up 86% in the Nine Months Ended December 31, 2005 - Highest Net Income to Date Exceeding Record Profits in Fiscal 2005.Tokyo, Japan, Feb 7, 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 nine months ended December 31, 2005 (April 1 - December 31) of the fiscal year ending March 31, 2006. Revenues increased 6% to 658,802 million yen in the first nine months of this fiscal year compared with the same period of the previous fiscal year. 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 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. ," "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 operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. " were up compared to the same period of the previous fiscal year. Expenses were down 8% to 490,454 million yen compared with the same period of 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. 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. was up 85% to 168,348 million yen, income before income taxes* rose 71% to 192,023 million yen thanks in part to the contribution from "equity in net income of affiliates" and "gains on sales of subsidiaries and affiliates and liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy loss," and net income grew 86% to 126,097 million yen with a contribution from "discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , net of applicable tax effect."
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2005.4-12 2005.4-12 2004.4-12 Change
US$ mil yen mil yen mil Y-o-Y
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Total Revenues 5,580 658,802 622,714 Up 6%
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Income before
Income Taxes* 1,626 192,023 112,466 Up 71%
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Net Income 1,068 126,097 67,718 Up 86%
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Earnings per Share
(Basic)(US$/Yen) 12.15 1,434.39 808.27 Up 77%
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Earnings per Share
(Diluted)(US$/Yen) 11.51 1,359.01 743.17 Up 83%
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2005.12 2005.12 2005.3 Change
US$ mil yen mil yen mil Y-o-Y
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Shareholders' Equity 7,613 898,828 727,333 Up 24%
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Total Assets 56,631 6,686,456 6,068,953 Up 10%
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Shareholders' Equity
per Share (US$/Yen) 85.53 10,099.03 8,322.96 Up 21%
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Segment profits were up year on year for the Segment profits were up year on year for the Segment profits were up year on year for the Segment profits were up year on year for the "Corporate Financial Services," "Automobile Operations," "Real Estate-Related Finance," "Real Estate," "Life Insurance," "Other," "The Americas," and "Asia, Oceania and Europe" segments, while the "Rental Operations" segment was lower compared to the same period of the previous fiscal year. Operating assets Operating Assets Another term for working capital. were up 9% to 5,611,344 million yen and total assets were up 10% to 6,686,456 million 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 24% to 898,828 million yen on March 31, 2005 and the shareholders' equity ratio was 13.4% compared to 12.0% at March 31, 2005. ROE (annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. ) rose from 15.0% to 20.7% and ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). (annualized) improved from 1.57% to 2.64% compared to the same period of the previous fiscal year. For the fiscal year ending March 31, 2006 we have revised our consolidated results forecast made at the interim results announcement on November 8, 2005 as follows. "Revenues" 900,000 million yen (flat compared with the fiscal year ended March 31, 2005), "income before income taxes" of 245,000 million yen (up 61%), and "net income" of 155,000 million yen (up 69%).
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(Millions of Yen)
Revenues IBIT* Net Income
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Previous Forecast (A) 890,000 230,000 140,000
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New Forecast (B) 900,000 245,000 155,000
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Change (B-A) 10,000 15,000 15,000
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Change (%) 1.1 6.5 10.7
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(Ref.) FY 2005 results 900,034 152,332 91,496
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* "Income before income taxes" refers to "income before discontinued operations and income taxes" in the consolidated statements of income. ** U.S. dollar amounts have been calculated at 118.07 Yen to $1.00, the approximate exchange rate prevailing at December 31, 2005. 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. For details on the Third Quarter earnings announcement please access "Third Quarter Results 2005/12" and "Third Quarter Results Supplementary Information 2005/12" from ORIX's web site at: http://www.orix.co.jp/grp/ir_e/data/report/index.htm ORIX will also hold a conference call in English on Wednesday, February 8, 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/ir_e/ir_pdf/051231_ConfCallE.pdf This document may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 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 annual report on Form 20-F filed with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission and those described under "Business Risk" of the securities report (yukashoken houkokusho) filed with the Director of the Kanto Local Finance Bureau. 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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