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 August 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):  ☐

Table of Contents

Material Contained in this Report

1.	ORIX’s First Quarter Consolidated Financial Results (April 1, 2022 – June 30, 2022) filed with the Tokyo Stock Exchange on Wednesday, August 3, 2022.
2.	English press release entitled, “Notice regarding Share Repurchase Status.”

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 : August 3, 2022	By	/s/ Hitomaro Yano
		Hitomaro Yano
		Executive Officer Head of Treasury and Accounting Headquarters

Consolidated Financial Results

April 1, 2022 – June 30, 2022

August 3, 2022

In preparing its consolidated financial information, ORIX Corporation (the “Company”) and its subsidiaries have complied with generally accepted accounting principles in the United States of America.

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 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 Securities and Exchange Commission.

The Company believes that it may have been a “passive foreign investment company” for U.S. federal income tax purposes in the year to which these consolidated financial results relate by reason of the composition of its assets and the nature of its income. In addition, the Company may be a PFIC for the foreseeable future. Assuming that the Company is a PFIC, a U.S. holder of the shares or ADSs of the Company will be subject to special rules generally intended to eliminate any benefits from the deferral of U.S. federal income tax that a holder could derive from investing in a foreign corporation that does not distribute all of its earnings on a current basis. Investors should consult their tax advisors with respect to such rules, which are summarized in the Company’s annual report.

For further information please contact:

Investor Relations and Sustainability Department

ORIX Corporation

World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-Ku, Tokyo, 105-5135

JAPAN

Tel: +81-3-3435-3121 Fax: +81-3-3435-3154

E-mail: orix_corpcomm@orix.jp

Consolidated Financial Results from April 1, 2022 to June 30, 2022

(U.S. GAAP Financial Information for ORIX Corporation and its Subsidiaries)

Corporate Name:	ORIX Corporation
Listed Exchanges:	Tokyo Stock Exchange (Securities No. 8591)
	New York Stock Exchange (Trading Symbol : IX)
Head Office:	Tokyo JAPAN
	Tel: +81-3-3435-3121
	(URL https://www.orix.co.jp/grp/en/ir/)

1. Performance Highlights as of and for the Three Months Ended June 30, 2022

(1) Performance Highlights - Operating Results

(millions of yen)*1

	Total Revenues		Year-on-Year Change			Operating Income		Year-on-Year Change			Income before Income Taxes		Year-on-Year Change			Net Income Attributable to ORIX Corporation Shareholders		Year-on-Year Change
June 30, 2022		657,813		8.0	%		83,293		(18.3	%)		85,015		(15.0	%)		61,862		(5.1	%)
June 30, 2021		608,813		13.2	%		101,979		124.1	%		100,056		47.9	%		65,216		30.3	%

“Comprehensive Income Attributable to ORIX Corporation Shareholders” was ¥98,180 million for the three months ended June 30, 2022 (year-on-year change was a 20.8% increase) and ¥81,293 million for the three months ended June 30, 2021 (year-on-year change was a 77.2% increase).

	Basic Earnings Per Share		Diluted Earnings Per Share
June 30, 2022		51.90		51.85
June 30, 2021		53.65		53.61

*Note: 1. Unless otherwise stated, all amounts shown herein are in millions of Japanese yen, except for Per Share and dividend amounts, which are in single yen.

(2) Performance Highlights - Financial Position

	Total Assets		Total Equity		Shareholders’ Equity		Shareholders’ Equity Ratio
June 30, 2022		14,622,486		3,403,485		3,293,726		22.5	%
March 31, 2022		14,270,672		3,371,401		3,261,419		22.9	%

*Note: 2. “Shareholders’ Equity” refers to “Total ORIX Corporation Shareholders’ Equity.”

“Shareholders’ Equity Ratio” is the ratio of “Total ORIX Corporation Shareholders’ Equity” to “Total Assets.”

2. Dividends

	First Quarter-end		Second Quarter-end		Third Quarter-end		Year-end		Total
March 31, 2022		—		39.00		—		46.60		85.60
March 31, 2023		—		—		—		—		—
March 31, 2023 (Est.)		—		42.80		—		42.80		85.60

3. Other Information

(1) Changes in Significant Consolidated Subsidiaries	Yes (    )     No ( x )
Addition - None (                                )	Exclusion - None (                                )
(2) Adoption of Simplified Accounting Method	Yes (    )     No ( x )
(3) Changes in Accounting Principles, Procedures and Disclosures
1. Changes due to adoptions of new accounting standards	Yes (    )     No ( x )
2. Other than those above	Yes (    )     No ( x )

(4) Number of Issued Shares (Ordinary Shares)

1. The number of issued shares, including treasury stock, was 1,258,277,087 as of June 30, 2022, and 1,258,277,087 as of March 31, 2022.

2. The number of treasury stock was 67,256,792 as of June 30, 2022, and 62,914,027 as of March 31, 2022.

3. The average number of outstanding shares was 1,191,991,937 for the three months ended June 30, 2022, and 1,215,578,051 for the three months ended June 30, 2021.

The Company’s shares held through the Board Incentive Plan Trust (1,963,282 shares as of June 30, 2022 and 1,963,282 shares as of March 31, 2022) are not included in the number of treasury stock as of the end of the periods, but are included in the average number of shares outstanding as treasury stock that are deducted from the basis of the calculation of per share data.

* These consolidated financial results from April 1, 2022 to June 30, 2022 are not subject to certified public accountant’s or audit firm’s quarterly review.

- 1 -

1. Summary of Consolidated Financial Results

(1) Financial Highlights

Financial Results for the Three Months Ended June 30, 2022

		Three months ended June 30, 2021		Three months ended June 30, 2022		Change
						Amount			Percent
Total Revenues	(millions of yen)		608,813		657,813		49,000			8	%
Total Expenses	(millions of yen)		506,834		574,520		67,686			13	%
Income before Income Taxes	(millions of yen)		100,056		85,015		(15,041	)		(15	)%
Net Income Attributable to ORIX Corporation Shareholders	(millions of yen)		65,216		61,862		(3,354	)		(5	)%
Earnings Per Share (Basic)	(yen)		53.65		51.90		(1.75	)		(3	)%
(Diluted)	(yen)		53.61		51.85		(1.76	)		(3	)%
ROE (Annualized)*1	(%)		8.6		7.5		(1.1	)		—
ROA (Annualized)*2	(%)		1.92		1.71		(0.21	)		—

*Note: 1. ROE is the ratio of Net Income Attributable to ORIX Corporation Shareholders for the period to average ORIX Corporation Shareholders’ Equity.

*Note: 2. ROA is calculated based on Net Income Attributable to ORIX Corporation Shareholders.

Overview of Business Performance (April 1, 2022 to June 30, 2022)

Total revenues for the three months ended June 30, 2022 (hereinafter, “the first consolidated period”) increased 8% to ¥657,813 million compared to ¥608,813 million during the same period of the previous fiscal year due to increases in services income, life insurance premiums and related investment income, operating leases revenues and sales of goods and real estate despite a decrease in gains (losses) on investment securities and dividends.

Total expenses increased 13% to ¥574,520 million compared to ¥506,834 million during the same period of the previous fiscal year due to increases in life insurance costs, services expense and costs of goods and real estate sold.

Equity in net income (loss) of affiliates resulted in losses of ¥1,381 million (losses of ¥4,920 million in the same period of the previous fiscal year), and gains on sales of subsidiaries and affiliates and liquidation losses, net increased by ¥106 million to ¥3,103 million compared to the same period of the previous fiscal year.

Due to the above results, income before income taxes for the first consolidated period decreased 15% to ¥85,015 million compared to ¥100,056 million during the same period of the previous fiscal year and net income attributable to ORIX Corporation shareholders decreased 5% to ¥61,862 million compared to ¥65,216 million during the same period of the previous fiscal year.

- 2 -

Segment Information

Total segment profits for the first consolidated period decreased 15% to ¥85,941 million compared to the same period of the previous fiscal year.

Since April 1, 2022, a portion of interest expenses and a portion of selling, general and administrative expenses, which were initially included in the difference between segment total profits and consolidated amounts, have been charged directly to their respective segments. As a result of these changes, segment data for the three months ended June 30, 2021 has been retrospectively restated.

Segment information for the first consolidated period is as follows:

Corporate Financial Services and Maintenance Leasing: Finance and fee business; leasing and rental of automobiles, electronic measuring instruments and ICT-related equipment

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		17,202		15,725		(1,477	)		(9	)
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)			Percent (%)
Segment Assets		1,516,795		1,486,080		(30,715	)		(2	)

Segment profits decreased 9% to ¥15,725 million compared to the same period of the previous fiscal year due to a decrease in services income resulting from the sale of the business of Yayoi Co., Ltd. in the three months ended March 31, 2022.

Segment assets decreased 2% to ¥1,486,080 million compared to the end of the previous fiscal year due to decreases in net investment in leases and installment loans.

- 3 -

Real Estate: Real estate development, rental and management; facility operations; real estate asset management

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		10,592		11,938		1,346			13
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)			Percent (%)
Segment Assets		910,101		904,248		(5,853	)		(1	)

Segment profits increased 13% to ¥11,938 million compared to the same period of the previous fiscal year due to an increase in services income from operating facilities, partially offset by a decrease in sales of goods and real estate at DAIKYO INCORPORATED and its subsidiaries.

Segment assets decreased 1% to ¥904,248 million compared to the end of the previous fiscal year due to a decrease in investment in operating leases, despite an increase in inventories.

PE Investment and Concession: Private equity investment; concession

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)		Percent     (%)
Segment Profits		158		2,187		2,029		—
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)		Percent (%)
Segment Assets		353,581		368,704		15,123		4

Segment profits increased by ¥2,029 million to ¥2,187 million as compared to ¥158 million of segment profits in the same period of the previous fiscal year due to increases in operating leases revenues and services income, and a decrease in equity in net loss of affiliates at our three airports in Kansai in our concession business.

Segment assets increased 4% to ¥368,704 million compared to the end of the previous fiscal year due to the acquisition of a subsidiary that resulted in an increase of investment in securities and goodwill, intangible assets acquired in business combinations, despite a decrease in property under facility operations at a certain investee.

- 4 -

Environment and Energy: Domestic and overseas renewable energy; electric power retailing; ESCO services; sales of solar panels and battery energy storage system; recycling and waste management

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)		Percent     (%)
Segment Profits		4,343		4,592		249		6
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)		Percent (%)
Segment Assets		703,608		731,133		27,525		4

Segment profits increased 6% to ¥4,592 million compared to the same period of the previous fiscal year due to an increase in services income resulting from higher revenues from electricity sales, despite an equity in net loss of affiliates resulting from seasonal factors at an investee engaged in renewable energy business in India.

Segment assets increased 4% to ¥731,133 million compared to the end of the previous fiscal year due to increases in goodwill, intangible assets acquired in business combinations, property under facility operations, and investment in affiliates, primarily resulting from foreign exchange effects.

Insurance: Life insurance

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		15,147		10,890		(4,257	)		(28	)
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount  (millions of yen)			Percent (%)
Segment Assets		2,072,145		2,082,153		10,008			0

Segment profits decreased 28% to ¥10,890 million compared to the same period of the previous fiscal year due to an increase in life insurance costs as a result of increased payouts to policy holders, despite an increase in life insurance premiums and related investment income in line with an increase in insurance contracts.

Segment assets totaled ¥2,082,153 million, remaining relatively unchanged compared to the end of the previous fiscal year.

- 5 -

Banking and Credit: Banking; consumer finance

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		12,180		7,236		(4,944	)		(41	)
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)			Percent (%)
Segment Assets		2,687,156		2,691,467		4,311			0

Segment profits decreased 41% to ¥7,236 million compared to the same period of the previous fiscal year due to the absence of gains on investment securities and dividends at ORIX Bank Corporation recorded in the same period of the previous fiscal year, and an increase in advertising expenses at ORIX Credit Corporation recorded in the first consolidated period.

Segment assets totaled ¥2,691,467 million, remaining relatively unchanged compared to the end of the previous fiscal year.

Aircraft and Ships: Aircraft leasing and management; ship-related finance and investment

	Three months ended   June 30, 2021 (millions of yen)			Three months ended   June 30, 2022 (millions of yen)		Change
						Amount     (millions of yen)		Percent     (%)
Segment Profits		(4,954	)		5,416		10,370		—
	As of March 31, 2022 (millions of yen)			As of June 30, 2022 (millions of yen)		Change
						Amount (millions of yen)		Percent (%)
Segment Assets		684,098			723,184		39,086		6

Segment profits increased by ¥10,370 million to ¥5,416 million as compared to losses of ¥4,954 million of segment profits in the same period of the previous fiscal year due to a decrease in equity in net loss of affiliates at Avolon Holdings Limited, and an increase in operating leases revenues in our ship-related businesses.

Segment assets increased 6% to ¥723,184 million compared to the end of the previous fiscal year due to an increase in investment in affiliates, primarily resulting from foreign exchange effects.

- 6 -

ORIX USA: Finance, investment and asset management in the Americas

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		24,900		6,039		(18,861	)		(76	)
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)			Percent (%)
Segment Assets		1,364,142		1,554,481		190,339			14

Segment profits decreased 76% to ¥6,039 million compared to the same period of the previous fiscal year, primarily due to the absence of gains on investment securities and dividends resulting from the sales of investees recorded in the same period of the previous fiscal year.

Segment assets increased 14% to ¥1,554,481 million compared to the end of the previous fiscal year, primarily due to foreign exchange effects.

ORIX Europe: Asset management of global equity and fixed income

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)			Percent     (%)
Segment Profits		13,396		9,301		(4,095	)		(31	)
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)			Percent (%)
Segment Assets		401,869		409,786		7,917			2

Segment profits decreased 31% to ¥9,301 million compared to the same period of the previous fiscal year due to a decrease in gains on investment securities and dividends resulting from weaker market conditions.

Segment assets increased 2% to ¥409,786 million compared to the end of the previous fiscal year, primarily due to foreign exchange effects, despite a decrease in investment in securities.

- 7 -

Asia and Australia: Finance and investment businesses in Asia and Australia

	Three months ended   June 30, 2021 (millions of yen)		Three months ended   June 30, 2022 (millions of yen)		Change
					Amount     (millions of yen)		Percent     (%)
Segment Profits		8,512		12,617		4,105		48
	As of March 31, 2022 (millions of yen)		As of June 30, 2022 (millions of yen)		Change
					Amount (millions of yen)		Percent (%)
Segment Assets		1,306,089		1,375,656		69,567		5

Segment profits increased 48% to ¥12,617 million compared to the same period of the previous fiscal year due to an increase in gains on sales of subsidiaries and affiliates resulting from the sale of an investee, and an increase in operating leases revenues in South Korea and Australia.

Segment assets increased 5% to ¥1,375,656 million compared to the end of the previous fiscal year, primarily due to foreign exchange effects, despite a decrease in installment loans in Greater China.

- 8 -

(2) Consolidated Financial Condition

Summary of Assets, Liabilities, Shareholders’ Equity

		As of March 31, 2022		As of June 30, 2022		Change
						Amount			Percent
Total Assets	(millions of yen)		14,270,672		14,622,486		351,814			2	%
(Segment Assets)			11,999,584		12,326,892		327,308			3	%
Total Liabilities	(millions of yen)		10,899,271		11,218,327		319,056			3	%
(Short-term and Long-term Debt)			4,866,685		5,307,129		440,444			9	%
(Deposits)			2,276,158		2,265,925		(10,233	)		(0	)%
Shareholders’ Equity *1	(millions of yen)		3,261,419		3,293,726		32,307			1	%
Shareholders’ Equity Per Share *2	(yen)		2,732.88		2,770.03		37.15			1	%

*Note: 1.	Shareholders’ Equity refers to ORIX Corporation Shareholders’ Equity based on U.S. GAAP.
*Note: 2.	Shareholders’ Equity Per Share is calculated using total ORIX Corporation Shareholders’ Equity.

Total assets increased 2% to ¥14,622,486 million compared to the end of the previous fiscal year due to increases in other assets, installment loans and investments in affiliates being offset by a decrease in cash and cash equivalents. In addition, segment assets increased 3% to ¥12,326,892 million compared to the end of the previous fiscal year.

Total liabilities increased 3% to ¥11,218,327 million compared to the end of the previous fiscal year due to an increase in short- and long-term debt being offset by decreases in trade notes, accounts and other payable and current and deferred income taxes.

Shareholders’ equity increased 1% to ¥3,293,726 million compared to the end of the previous fiscal year.

- 9 -

2. Financial Information

(1) Condensed Consolidated Balance Sheets

(millions of yen)

Assets		As of March 31, 2022			As of June 30, 2022
Cash and Cash Equivalents			954,827			855,444
Restricted Cash			136,985			139,548
Net Investment in Leases			1,057,973			1,073,525
Installment Loans			3,862,604			3,966,734
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2022	¥151,601 million
June 30, 2022	¥222,298 million
Allowance for Credit Losses			(69,459	)		(65,775	)
Investment in Operating Leases			1,463,202			1,472,825
Investment in Securities			2,852,349			2,912,772
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2022	¥19,353 million
June 30, 2022	¥24,799 million
The amounts which are associated to available-for-sale debt securities are as follows:
March 31, 2022
Amortized Cost	¥2,276,425 million
Allowance for Credit Losses	¥(153) million
June 30, 2022
Amortized Cost	¥2,441,199 million
Allowance for Credit Losses	¥(163) million
Property under Facility Operations			561,846			560,873
Investment in Affiliates			978,033			1,047,867
Trade Notes, Accounts and Other Receivable			359,949			399,780
Inventories			139,563			146,455
Office Facilities			240,421			246,750
Other Assets			1,732,379			1,865,688
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2022	¥5,214 million
June 30, 2022	¥5,732 million
Total Assets			14,270,672			14,622,486
Liabilities and Equity
Short-term Debt			439,639			591,178
Deposits			2,276,158			2,265,925
Trade Notes, Accounts and Other Payable			291,422			263,285
Policy Liabilities and Policy Account Balances			1,963,623			2,005,240
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2022	¥198,905 million
June 30, 2022	¥180,791 million
Current and Deferred Income Taxes			461,181			341,566
Long-term Debt			4,427,046			4,715,951
Other Liabilities			1,040,202			1,035,182
Total Liabilities			10,899,271			11,218,327
Redeemable Noncontrolling Interests			0			674
Commitments and Contingent Liabilities
Common Stock			221,111			221,111
Additional Paid-in Capital			260,479			260,653
Retained Earnings			2,909,317			2,915,475
Accumulated Other Comprehensive Income (Loss)			(16,041	)		20,277
Treasury Stock, at Cost			(113,447	)		(123,790	)
Total ORIX Corporation Shareholders’ Equity			3,261,419			3,293,726
Noncontrolling Interests			109,982			109,759
Total Equity			3,371,401			3,403,485
Total Liabilities and Equity			14,270,672			14,622,486

- 10 -

Note : Breakdowns of Accumulated Other Comprehensive Income (Loss)

	As of March 31, 2022			As of June 30, 2022
Accumulated Other Comprehensive Income (Loss)
Net unrealized gains (losses) on investment in securities		(72,892	)		(154,265	)
Debt valuation adjustments		221			205
Defined benefit pension plans		(8,072	)		(8,239	)
Foreign currency translation adjustments		61,914			169,590
Net unrealized gains on derivative instruments		2,788			12,986
Total		(16,041	)		20,277

- 11 -

(2) Condensed Consolidated Statements of Income

(millions of yen)

	Three months ended June 30, 2021			Three months ended   June 30, 2022
Revenues :
Finance revenues		68,302			73,843
Gains (Losses) on investment securities and dividends		24,129			(5,640	)
Operating leases		113,466			126,199
Life insurance premiums and related investment income		108,098			126,277
Sales of goods and real estate		119,104			131,298
Services income		175,714			205,836
Total Revenues		608,813			657,813
Expenses :
Interest expense		16,919			21,898
Costs of operating leases		79,754			81,888
Life insurance costs		79,763			101,566
Costs of goods and real estate sold		99,068			112,430
Services expense		105,896			122,537
Other (income) and expense		3,511			1,730
Selling, general and administrative expenses		122,085			132,082
Provision for credit losses		(255	)		248
Write-downs of long-lived assets		87			108
Write-downs of securities		6			33
Total Expenses		506,834			574,520
Operating Income		101,979			83,293
Equity in Net Income (Loss) of Affiliates		(4,920	)		(1,381	)
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net		2,997			3,103
Income before Income Taxes		100,056			85,015
Provision for Income Taxes		29,456			20,727
Net Income		70,600			64,288
Net Income Attributable to the Noncontrolling Interests		5,384			2,426
Net Income Attributable to ORIX Corporation Shareholders		65,216			61,862

- 12 -

(3) Condensed Consolidated Statements of Comprehensive Income

				(millions of yen)
	Three months ended June 30, 2021			Three months ended June 30, 2022
Net Income :		70,600			64,288
Other comprehensive income, net of tax:
Net change of unrealized gains (losses) on investment in securities		6,381			(81,373	)
Net change of debt valuation adjustments		(24	)		(16	)
Net change of defined benefit pension plans		(47	)		(165	)
Net change of foreign currency translation adjustments		9,041			114,119
Net change of unrealized gains on derivative instruments		892			10,931
Total other comprehensive income		16,243			43,496
Comprehensive Income		86,843			107,784
Comprehensive Income Attributable to the Noncontrolling Interests		5,550			9,566
Comprehensive Income Attributable to the Redeemable Noncontrolling Interests		0			38
Comprehensive Income Attributable to ORIX Corporation Shareholders		81,293			98,180

(4) Assumptions for Going Concern

There is no corresponding item.

(5) Significant Changes in Shareholders’ Equity

There is no corresponding item.

- 13 -

(6) Segment Information

Segment Information by Sector

													(millions of yen)
	Three Months ended June 30, 2021					Three Months ended June 30, 2022					March 31, 2022		June 30, 2022
	Segment Revenues		Segment Profits			Segment Revenues		Segment Profits			Segment Assets		Segment Assets
Corporate Financial Services and Maintenance Leasing		109,792		17,202			104,125		15,725			1,516,795		1,486,080
Real Estate		96,762		10,592			96,865		11,938			910,101		904,248
PE Investment and Concession		99,624		158			121,778		2,187			353,581		368,704
Environment and Energy		29,329		4,343			46,801		4,592			703,608		731,133
Insurance		109,181		15,147			127,542		10,890			2,072,145		2,082,153
Banking and Credit		22,826		12,180			20,041		7,236			2,687,156		2,691,467
Aircraft and Ships		8,463		(4,954	)		14,564		5,416			684,098		723,184
ORIX USA		47,694		24,900			35,582		6,039			1,364,142		1,554,481
ORIX Europe		50,456		13,396			43,697		9,301			401,869		409,786
Asia and Australia		34,648		8,512			45,001		12,617			1,306,089		1,375,656
Segment Total		608,775		101,476			655,996		85,941			11,999,584		12,326,892
Difference between Segment Total and Consolidated Amounts		38		(1,420	)		1,817		(926	)		2,271,088		2,295,594
Consolidated Amounts		608,813		100,056			657,813		85,015			14,270,672		14,622,486

Note: 1. The Company evaluates the performance of segments based on income before income taxes, adjusted for net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests before applicable tax effect. Tax expenses are not included in segment profits.

Note: 2. Since April 1, 2022, a portion of interest expenses and a portion of selling, general and administrative expenses, which were initially included in the difference between segment total profits and consolidated amounts, have been charged directly to its respective segments. As a result of these changes, segment data for the three months ended June 30, 2021 has been retrospectively restated.

Note: 3. Inter-segment transactions are included in segment revenues, and eliminations of inter-segment transactions are included in the difference between segment total and consolidated amounts.

(7) Subsequent Events

There are no material subsequent events.

- 14 -

Notice regarding Share Repurchase Status

TOKYO, Japan — August 3, 2022 — ORIX Corporation hereby announces the status regarding its share repurchase pursuant to the provisions of its Articles of Incorporation and Article 459, Paragraph 1 of the Companies Act, which was resolved at its Board of Directors meeting held on May 11, 2022, as follows.

1.  Class of shares repurchased	Common shares
2.  Total number of shares repurchased	3,057,700 shares
3.  Total purchase price of shares repurchased	JPY 6,989,578,600
4.  Repurchase Period	July 1, 2022 – July 31, 2022
5.  Method of share repurchase	Market purchases based on the discretionary dealing contract regarding repurchase of own shares
(Reference)
1.  Details of the resolution reached at the Board of Directors meeting held on May 11, 2022
(1)   Class of shares to be repurchased	Common shares
(2)   Total number of shares to be repurchased	Up to 40,000,000 shares
	(approx.3.3% of the total outstanding shares (excluding treasury shares))
(3)   Total purchase price of shares to be repurchased	Up to 50 billion yen
(4)   Repurchase Period	From May 18, 2022 to March 31, 2023
(5)   Method of share repurchase	Market purchases based on the discretionary dealing contract regarding repurchase of own shares
2.  Cumulative number of shares repurchased based on the above resolution at the Board of Directors Meeting (as of July 31, 2022)
(1)   Total number of shares repurchased	7,400,400 shares
(2)   Total purchase price of shares repurchased	JPY 17,332,147,150

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.”