$IX · ORIX CORP
ORIX filed its semi-annual report (6-K) for the six months ended September 30, 2026. Total revenues rose 10% YoY to ¥1,673,875 million, while net income attributable to shareholders jumped 216% to ¥856,218 million and basic EPS rose 227% to ¥785.16. The surge was driven by equity-method income of ¥809,610 million (including Kioxia share gains) and the completed sale of ORIX Bank to Daiwa Next Bank on August 3, 2026, which was reclassified as a discontinued operation.
- Net income attributable to shareholders rose 216% YoY to ¥856,218 million.
- Basic EPS rose 227% YoY to ¥785.16; diluted EPS ¥783.50.
- Total revenues rose 10% YoY to ¥1,673,875 million.
- Equity in net income of equity method investments reached ¥809,610 million, including Kioxia share gains.
- ORIX Bank sale to Daiwa Next Bank completed August 3, 2026, reclassified as discontinued operations.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
A 216% profit surge driven by one-off equity-method gains and a bank divestiture signals a major portfolio reshaping, but raises questions about earnings sustainability.
ORIX's results reflect a broader Japanese financial conglomerate trend of monetizing equity-method stakes (Kioxia, Toshiba) and divesting non-core banking assets to boost returns.
The company flags it may be a passive foreign investment company (PFIC) for U.S. tax purposes, exposing U.S. holders to adverse tax treatment. Impairment of China Water Affairs and certain equity-method investments partially offset gains.