$IX · ORIX CORP
ORIX filed its Q2 FY2027 (six months ended September 30, 2026) consolidated results. Net income attributable to shareholders rose 216% to ¥856,218M, with income from continuing operations before taxes up 195% to ¥1,117,880M, driven largely by ¥809,610M in equity-method income including Kioxia share gains. The interim dividend was set at ¥113.56 per share, up from ¥93.76 a year earlier, under a policy excluding Kioxia gains from the payout base.
- Net income attributable to shareholders rose 216% to ¥856,218M for H1 FY2027.
- Equity in net income of equity method investments jumped to ¥809,610M from ¥50,327M.
- Interim dividend set at ¥113.56 per share, up from ¥93.76 a year earlier.
- Full-year FY2027 net income forecast held at ¥530,000M, up 18.5% year-on-year.
- 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 non-cash Kioxia valuation gains, while the dividend policy explicitly excludes those gains, signals quality-of-earnings concerns for investors.
ORIX's results reflect a diversified Japanese financial conglomerate benefiting from equity-method gains (Kioxia/Toshiba) while core operating income grew only 3.9% to ¥239,520M.
Kioxia valuation gains are non-cash, volatile, and excluded from the dividend base; ORIX may be a passive foreign investment company (PFIC) for U.S. holders, triggering adverse U.S. tax treatment.