Form 6-K ORIX CORP For: May 25

May 25, 2022 6:08 AM EDT

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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 May 2022

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  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


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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: May 25, 2022

  By  

/s/ Hitomaro Yano

   

Hitomaro Yano

   

Executive Officer

Head of Treasury and

Accounting Headquarters


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LOGO   

Partial Amendments to Consolidated Financial Results April 1, 2021 – March 31, 2022

TOKYO, Japan — May 25, 2022 — ORIX Corporation has amended a part of the Consolidated Financial Results April 1, 2021 – March 31, 2022, which was first announced on May 11, 2022. The amendment is as following.

1. Reason for the amendment

Due to an accounting process error for an ongoing project, there was a discrepancy in an account title in the Condensed Consolidated Balance Sheets as of March 31, 2022, which has now been amended.

2. Amended part

Property under Facility Operations, listed in the Condensed Consolidated Balance Sheets as of March 31, 2022, increased 9,885 million yen from 551,961 million yen to 561,846 million yen. Other Assets (Advances for Property under Facility Operations) reduced by the same amount from 1,742,264 million yen to 1,732,379 million yen.

 

*

The amended part is underlined.

 

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3. Financial Information

(1) Condensed Consolidated Balance Sheets (Unaudited)

Before correction

 

           (millions of yen)  
     As of March 31,
2021
    As of March 31,
2022
 

Assets

Cash and Cash Equivalents

     951,242       954,827  

Restricted Cash

     128,333       136,985  

Net Investment in Leases

     1,029,518       1,057,973  

Installment Loans

     3,670,784       3,862,604  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥63,272 million     

March 31, 2022

   ¥151,601 million     

Allowance for Credit Losses

     (78,945     (69,459

Investment in Operating Leases

     1,408,189       1,463,202  

Investment in Securities

     2,660,443       2,852,349  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥9,384 million     

March 31, 2022

   ¥19,353 million     

The amounts which are associated to available-for-sale debt securities are as follows:

    

March 31, 2021

       

Amortized Cost

   ¥2,026,767 million     

Allowance for Credit Losses

   ¥(120) million     

March 31, 2022

       

Amortized Cost

   ¥2,276,425 million     

Allowance for Credit Losses

   ¥(153) million     

Property under Facility Operations

     491,855       551,961  

Investment in Affiliates

     887,764       978,033  

Trade Notes, Accounts and Other Receivable

     354,334       359,949  

Inventories

     142,156       139,563  

Office Facilities

     246,399       240,421  

Other Assets

     1,671,010       1,742,264  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥6,297 million     

March 31, 2022

   ¥5,214 million     
     

 

 

   

 

 

 

Total Assets

     13,563,082       14,270,672  
  

 

 

   

 

 

 

Liabilities and Equity

            

Short-term Debt

     307,269       439,639  

Deposits

     2,317,785       2,276,158  

Trade Notes, Accounts and Other Payable

     260,712       291,422  

Policy Liabilities and Policy Account Balances

     1,822,422       1,963,623  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥266,422 million     

March 31, 2022

   ¥198,905 million     

Current and Deferred Income Taxes

     363,460       461,181  

Long-term Debt

     4,416,833       4,427,046  

Other Liabilities

     971,457       1,040,202  
  

 

 

   

 

 

 

Total Liabilities

     10,459,938       10,899,271  
  

 

 

   

 

 

 

Commitments and Contingent Liabilities

    

Common Stock

     221,111       221,111  

Additional Paid-in Capital

     259,361       260,479  

Retained Earnings

     2,744,588       2,909,317  

Accumulated Other Comprehensive Income (Loss)

     (84,650     (16,041

Treasury Stock, at Cost

     (111,954     (113,447
     

 

 

   

 

 

 

Total ORIX Corporation Shareholders’ Equity

     3,028,456       3,261,419  

Noncontrolling Interests

     74,688       109,982  
  

 

 

   

 

 

 

Total Equity

     3,103,144       3,371,401  
  

 

 

   

 

 

 

Total Liabilities and Equity

     13,563,082       14,270,672  
  

 

 

   

 

 

 

 

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Table of Contents

After correction

 

     (millions of yen)  
     As of March 31,
2021
    As of March 31,
2022
 

Assets

Cash and Cash Equivalents

     951,242       954,827  

Restricted Cash

     128,333       136,985  

Net Investment in Leases

     1,029,518       1,057,973  

Installment Loans

     3,670,784       3,862,604  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥63,272 million     

March 31, 2022

   ¥151,601 million     

Allowance for Credit Losses

     (78,945     (69,459

Investment in Operating Leases

     1,408,189       1,463,202  

Investment in Securities

     2,660,443       2,852,349  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥9,384 million     

March 31, 2022

   ¥19,353 million     

The amounts which are associated to available-for-sale debt securities are as follows:

    

March 31, 2021

       

Amortized Cost

   ¥2,026,767 million     

Allowance for Credit Losses

   ¥(120) million     

March 31, 2022

       

Amortized Cost

   ¥2,276,425 million     

Allowance for Credit Losses

   ¥(153) million     

Property under Facility Operations

     491,855       561,846  

Investment in Affiliates

     887,764       978,033  

Trade Notes, Accounts and Other Receivable

     354,334       359,949  

Inventories

     142,156       139,563  

Office Facilities

     246,399       240,421  

Other Assets

     1,671,010       1,732,379  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥6,297 million     

March 31, 2022

   ¥5,214 million     
     

 

 

   

 

 

 

Total Assets

     13,563,082       14,270,672  
  

 

 

   

 

 

 

Liabilities and Equity

            

Short-term Debt

     307,269       439,639  

Deposits

     2,317,785       2,276,158  

Trade Notes, Accounts and Other Payable

     260,712       291,422  

Policy Liabilities and Policy Account Balances

     1,822,422       1,963,623  

The amounts which are measured at fair value by electing the fair value option are as follows:

    

March 31, 2021

   ¥266,422 million     

March 31, 2022

   ¥198,905 million     

Current and Deferred Income Taxes

     363,460       461,181  

Long-term Debt

     4,416,833       4,427,046  

Other Liabilities

     971,457       1,040,202  
  

 

 

   

 

 

 

Total Liabilities

     10,459,938       10,899,271  
  

 

 

   

 

 

 

Commitments and Contingent Liabilities

    

Common Stock

     221,111       221,111  

Additional Paid-in Capital

     259,361       260,479  

Retained Earnings

     2,744,588       2,909,317  

Accumulated Other Comprehensive Income (Loss)

     (84,650     (16,041

Treasury Stock, at Cost

     (111,954     (113,447
     

 

 

   

 

 

 

Total ORIX Corporation Shareholders’ Equity

     3,028,456       3,261,419  

Noncontrolling Interests

     74,688       109,982  
  

 

 

   

 

 

 

Total Equity

     3,103,144       3,371,401  
  

 

 

   

 

 

 

Total Liabilities and Equity

     13,563,082       14,270,672  
  

 

 

   

 

 

 

 

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Contact Information:

Investor Relations and Sustainability Department

ORIX Corporation

Tel: +81-3-3435-3121

About ORIX:

ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.

Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 28 countries and regions across the world.

Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/

(As of March 31, 2022)

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, 2021 - March 31, 2022.”

 

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