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 Registrants 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): ☐
Material Contained in this Report
1. |
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 |
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 | ||||||||
|
|
|
|
- 2 -
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 Companys 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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