Financial Data and Key Metrics Changes - For the first half of FY 2025, ORIX recorded a pretax profit of ¥257 billion and a net income of ¥182.9 billion, representing a 42.8% year-over-year increase, marking a record high for the first half [5] - The first half ROE was reported at 9.3%, with a target of 9.6% for the full year [6] - Segment profits totaled ¥287.8 billion, with Finance at ¥92.8 billion, Operation at ¥105.8 billion, and Investment at ¥89.2 billion, achieving 47%, 44%, and 48% of their respective full-year targets [7] Business Line Data and Key Metrics Changes - In the Finance category, profits were impacted by the sale of a significant stake in ORIX Credit, but strong performance from ORIX Life Insurance contributed positively [8] - The Operation category saw a 5.1% increase in pretax profit to ¥105.8 billion, driven by a rise in foreign passengers at Kansai Airport and improved hotel occupancy rates [14] - The Investment category achieved a 200% year-over-year increase in pretax profit to ¥89.2 billion, focusing on business succession and partnerships with SMEs [21] Market Data and Key Metrics Changes - The company remains cautious regarding the Greater China region due to sluggish consumer spending and real estate issues, with investments in the region accounting for less than 3% of total group assets [13] - The U.S. market is characterized by geopolitical risks and potential economic stimulus measures, which could impact interest rates and inflation [10] Company Strategy and Development Direction - ORIX aims to proactively grow its asset scale in the ORIX USA business while maintaining a conservative view on credit cards until FY 2026 [11] - The company is focusing on expanding its renewable energy business and has announced the acquisition of hydropower resources in Spain [18] - Future investments will prioritize high-ROE companies and divestment of low-ROE businesses, with a target to expand AUM to ¥100 trillion [84] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about political instability in Japan and the U.S., which could affect financial conditions and interest rates [9][10] - The company anticipates continued strong earnings in the second half of FY 2025, with a focus on achieving the full-year net income target of ¥390 billion [5][52] - Management remains cautious about the U.S. real estate market, expecting a slow recovery due to rising interest rates and increased nonperforming loans [64] Other Important Information - The interim dividend was set at ¥62.17 per share, a 45% increase from the previous year's interim dividend [35] - The company is committed to a share buyback program of ¥50 billion to improve ROE [36] Q&A Session Summary Question: How comfortable is the company with achieving the ¥390 billion profit target for the full year? - Management expressed confidence in achieving the target, noting that they are scheduled to generate more gains in the second half and that the pipeline is on schedule [52][53] Question: What is the impact of the recent U.S. presidential election on the company's business and investment strategy? - Management indicated that the political environment is difficult to read, but they will evaluate opportunities on a deal-by-deal basis, considering the current exchange rates [58][60] Question: What were the challenges faced by ORIX USA in the second quarter? - Management noted that rising interest rates have led to increased nonperforming loans, impacting profitability, but they are working on repositioning and renovating assets [64][66] Question: What is the strategy for improving corporate value and achieving midterm management plan goals? - Management discussed the need for better disclosure and understanding of the company's strategy, with a focus on qualitative discussions leading to quantitative targets [72][76] Question: How does the company plan to generate capital gains moving forward? - Management stated that they aim to maintain a balanced approach to capital gains, with a commitment to achieving a 39% dividend payout based on first-half profits [102][103]

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Financial Data and Key Metrics Changes - Q1 net income increased by 38% year-over-year to JPY86.7 billion, representing 22% of the full-year net income target of JPY390 billion, with an annualized ROE of 8.7% [3][6] - Total segment profits rose by 28% year-over-year to JPY137.3 billion [9] Business Line Data and Key Metrics Changes - Finance category profits decreased slightly by 1% year-over-year to JPY47.2 billion, primarily due to a reclassification of credit to the investment category [7] - Operation category profits increased by 14% year-over-year to JPY53.2 billion, driven by airport concessions and European asset management [8] - Investment category profits surged by 194% year-over-year to JPY36.8 billion, attributed to domestic PE exits and sales of investment condos [9] Market Data and Key Metrics Changes - Inbound tourism-related business profits rose by 78% year-over-year to JPY6.9 billion, benefiting from increased aircraft usage and ongoing profit expansion in airport concessions [4][20] - Visitor arrivals to Japan have surpassed 2019 levels, except for China, indicating a strong recovery in tourism [20] Company Strategy and Development Direction - The company is focusing on capital recycling, with JPY35 billion in capital gains for the quarter and plans to exceed full-year capital gains from the previous year [5][21] - ORIX aims to achieve a net income target of JPY390 billion for FY '25 March while continuing investments that contribute to future growth [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about capturing opportunities from market fluctuations, particularly in the U.S. and European markets, as interest rates may decline [27][37] - The company remains cautious about the Greater China market but sees healthy business climates in ASEAN countries [19] Other Important Information - The company has made several key investment decisions expected to contribute to future growth, including investments in domestic real estate and overseas renewable energy projects [5][21] - Segment profits for the aircraft and ship segment increased by 54% year-over-year to JPY11.8 billion, driven by strong passenger demand [16] Q&A Session Summary Question: How does market fluctuation affect earnings? - Management indicated that changes in U.S. and Euro interest rates could positively impact earnings, particularly in aircraft-related businesses [26][27] Question: What conditions would hinder gains on sales in private equity and real estate? - Management noted that while there are challenges, the depreciation of the yen and lower interest rates have supported sales exceeding expectations [29][30] Question: What synergies are expected from the Panasonic Connect investment? - Management stated that while synergies are not included in the valuation, there is potential for cooperation leveraging PE expertise [32][35] Question: What is the outlook for U.S. businesses amid potential rate cuts? - Management sees signs of recovery in the U.S. credit market and anticipates that rate cuts could contribute to earnings recovery in the second half of next year [37] Question: What is the company's stance on shareholder returns versus growth investments? - Management emphasized the need to balance shareholder returns with growth investments, indicating that share buybacks would be considered but not solely based on share price fluctuations [48][50]

※ テンプレートデザインの個別編集禁止 Kazuki Yamamoto Operating Officer, Corporate Function Unit Responsible for Investor Relations and Sustainability Department August 5, 2024 1 Copyright © ORIX Corporation All rights reserved. ORIX Corporation First Quarter Consolidated Financial Results For the Three-Month Period Ended June 30, 2024 ※ テンプレートデザインの個別編集禁止 Executive Summary (1) Q1 Net Income of 86.7 Bln JPY(up 38% YoY, 22% of FY25.3 390 Bln JPY target), annualized ROE of 8.7% Finance category continues to generate steady prof ...

[Filing of Extraordinary Report](index=4&type=section&id=Filing%20of%20Extraordinary%20Report) ORIX Corporation filed an extraordinary report on the voting results of its 61st General Meeting of Shareholders, held on June 25, 2024, as mandated by Japanese financial regulations [Report Details and Purpose](index=4&type=section&id=Report%20Details%20and%20Purpose) ORIX Corporation filed an extraordinary report on June 27, 2024, to disclose the voting results from its 61st General Meeting of Shareholders held on June 25, 2024, a mandatory requirement under Japan's Financial Instruments and Exchange Act - ORIX filed an extraordinary report concerning the results of the exercise of voting rights at the 61st General Meeting of Shareholders[8](index=8&type=chunk) - The meeting was held on June 25, 2024[10](index=10&type=chunk) - The filing is required by Article 24-5, Paragraph 4, of the Financial Instruments and Exchange Act of Japan, because resolutions were passed at the shareholder meeting[9](index=9&type=chunk) [Matters Resolved and Voting Results](index=4&type=section&id=Matters%20Resolved%20and%20Voting%20Results) The key resolution at the meeting was the election of eleven Directors, with ten members reelected and Mr. Hidetake Takahashi newly elected, all approved with significant majorities ranging from 97.29% to 99.42% - The proposal involved the election of eleven members to the Board of Directors, with ten individuals reelected and Mr. Hidetake Takahashi newly elected and appointed[10](index=10&type=chunk) Voting Results for the Election of Directors | Matters to be Resolved | Approvals (units) | Disapprovals (units) | Abstentions (units) | Approval Rate (%) | Voting Result | | :--- | :--- | :--- | :--- | :--- | :--- | | Makoto Inoue | 8,907,600 | 198,386 | 168 | 97.78% | Approved | | Satoru Matsuzaki | 9,051,854 | 54,139 | 168 | 99.36% | Approved | | Stan Koyanagi | 9,052,133 | 53,861 | 168 | 99.36% | Approved | | Yasuaki Mikami | 9,052,803 | 53,191 | 168 | 99.37% | Approved | | Hidetake Takahashi | 9,040,242 | 65,750 | 168 | 99.23% | Approved | | Michael Cusumano | 9,056,942 | 49,052 | 168 | 99.42% | Approved | | Sakie Akiyama | 8,892,715 | 213,275 | 168 | 97.61% | Approved | | Hiroshi Watanabe | 8,863,556 | 235,220 | 7,380 | 97.29% | Approved | | Aiko Sekine | 8,970,034 | 135,960 | 168 | 98.46% | Approved | | Chikatomo Hodo | 8,942,641 | 163,351 | 168 | 98.16% | Approved | | Noriyuki Yanagawa | 9,053,877 | 52,118 | 168 | 99.38% | Approved | - The approval requirement for the proposal was a majority of the voting rights held by shareholders present at the meeting, who must hold at least one-third of the total voting rights[13](index=13&type=chunk) [Corporate Information](index=6&type=section&id=Corporate%20Information) This section provides an overview of ORIX Group's global diversified financial services operations and includes a caution regarding forward-looking statements [About ORIX Group](index=6&type=section&id=About%20ORIX%20Group) ORIX Group, established in 1964, is a global diversified financial services corporation operating in approximately 30 countries and regions with about 34,000 employees across various sectors including financing, investment, and real estate - ORIX Group is a global, diverse corporate group founded in 1964, with operations in financing, investment, life insurance, banking, asset management, real estate, and other sectors[14](index=14&type=chunk) - The group operates globally in around 30 countries and regions with approximately 34,000 employees as of March 31, 2024[14](index=14&type=chunk)[15](index=15&type=chunk) [Caution Concerning Forward-Looking Statements](index=6&type=section&id=Caution%20Concerning%20Forward%20Looking%20Statements) This report includes forward-looking statements that involve risks and uncertainties, based on current expectations, with actual results potentially differing materially - The document contains forward-looking statements about future events and financial results that are subject to risks and uncertainties[15](index=15&type=chunk) - Factors that could cause actual results to differ are described under 'Risk Factors' in the Company's annual report on Form 20-F[15](index=15&type=chunk)

Geopolitical and Economic Conditions - The company operates in multiple regions including Japan, Asia, the Americas, Europe, Oceania, and the Middle East, and is affected by geopolitical and economic conditions in these areas[33] - The company does not expect significant financial impact from the Russia-Ukraine and Israel-Hamas conflicts at this stage, although long-term effects remain uncertain[33] - The company expects financial markets in Japan to normalize following the end of negative interest rates by the Bank of Japan, while uncertainty remains in the U.S. financial market due to geopolitical risks[120] Competition and Market Risks - The company faces risks from competition, which may lead to a decline in market share or profitability due to aggressive pricing strategies from competitors[35] - The company aims to increase market share in small and medium-sized enterprises and individual customers by enhancing competitive advantages in the automobile-related businesses[184] Sustainability and Environmental Initiatives - The company has committed to supporting the Task Force on Climate-related Financial Disclosures (TCFD) and aims to enhance corporate value through climate risk assessment and disclosure[41] - ORIX has been expanding its sustainability initiatives, focusing on reducing GHG emissions and promoting renewable energy investments[137] - The company plans to actively promote its renewable energy business and reduce investments in GHG-emitting industries, although achieving these goals may be affected by external factors[41] - ORIX is actively promoting initiatives to reduce GHG emissions, with 70.7% of total emissions coming from two coal biomass co-fired power plants[156] - The Sustainability Committee is responsible for addressing climate change risks and opportunities, reflecting the company's commitment to environmental governance[149] - The company has established key sustainability goals, including the reduction of GHG emissions and increasing the ratio of outside directors and female directors[146] Financial Performance - Net income attributable to ORIX Corporation shareholders for fiscal 2024 was ¥290,340 million, a decrease of 7.9% from ¥317,376 million in fiscal 2023[123] - Return on equity (ROE) improved to 10.0% in fiscal 2024, up from 8.5% in fiscal 2023[123] - Total segment profits for ORIX in fiscal 2024 were ¥494,152 million, compared to ¥406,231 million in fiscal 2023, indicating a recovery in profitability[179] - ORIX's Banking and Credit segment saw a significant increase in profits to ¥96,744 million in fiscal 2024, compared to ¥37,610 million in fiscal 2023[179] - The Real Estate segment reported profits of ¥65,835 million in fiscal 2024, up from ¥51,578 million in fiscal 2023, reflecting strong growth in this area[179] - The Environment and Energy segment reported profits of ¥29,898 million in fiscal 2024, a slight decrease from ¥32,960 million in fiscal 2023, indicating challenges in this sector[179] - ORIX's PE Investment and Concession segment showed a significant turnaround with profits of ¥43,378 million in fiscal 2024, compared to a loss of ¥11,642 million in fiscal 2022[179] Operational and Compliance Risks - The company maintains an allowance for credit losses but acknowledges that it may be inadequate due to unexpected adverse changes in economic conditions[44] - The company is exposed to risks from business expansion and acquisitions, which may lead to unexpected costs or losses if outcomes do not meet expectations[47] - The company faces liquidity risk, which could restrict its ability to raise funds and increase funding costs, significantly impacting its financial condition[66] - The company is subject to compliance risk, which may arise from its expansion into new businesses and could adversely affect its operations and reputation[68] - The company is subject to various domestic and international laws and regulations, which may adversely affect its business activities and financial condition[72] - Changes in laws and regulations may increase compliance costs and limit investing and funding activities, potentially impacting profitability[73] Cybersecurity and Operational Risks - Cybersecurity risks have significantly increased, with geopolitical tensions heightening the risk of cyber attacks, which could adversely affect operations and reputation[79] - System failures or cyber attacks could lead to delays in financial transactions and significant costs to recover business functionality[81] - The company may face operational risks related to inappropriate sales practices and inadequate handling of client complaints, which could affect profitability[83] - The effectiveness of the company's risk management may be challenged by rapid business expansion or significant changes in the business environment[86] - The company may struggle to hire or retain qualified personnel, which could lead to increased costs and affect service quality[87] Asset Management and Investments - The company has established a Sustainable Investing and Lending Policy to evaluate projects from an ESG perspective, ensuring compliance with international sustainability guidelines[135] - The company plans to expand its asset management and servicing platform in the Americas to increase stable fee revenues[200] - The company aims to increase assets under management in Europe by expanding products and investment strategies through M&A activities[202] - The company intends to enhance the functions of its overseas subsidiaries and invest in targeted markets in Asia and Australia to expand its business with a focus on profitability[204] Corporate Structure and Expansion - ORIX acquired 80% of Elawan Energy S.L. in July 2021 and purchased the remaining shares in February 2023, making it a wholly-owned subsidiary[115] - ORIX established a rental company in Tianjin, China in 2004 and a leasing company in Shanghai in 2005, marking significant overseas expansion efforts[109] - ORIX's credit segment was sold to NTT DoCoMo, Inc. in March 2024, divesting 66% of its shares in ORIX Credit[116] Real Estate and Infrastructure - In the real estate segment, the company plans to promote portfolio rebalancing by selling rental properties in favorable market conditions while investing in value-generating real estate development projects[187] - The company has one of the largest solar power capacities in Japan and intends to accelerate its renewable energy business overseas by leveraging domestic market expertise[191] - In the banking business, the company aims to increase finance revenues primarily through real estate investment loans, which are the core of its banking operations[196] Regulatory Compliance - ORIX and certain subsidiaries are required to be licensed under the Building Lots and Buildings Transaction Business Act for real estate activities in Japan[228] - ORIX Hotel Management Corporation operates lodging facilities with licenses from relevant prefectural governors under the Inns and Hotels Act[230] - ORIX Asset Management Corporation and ORIX Real Estate Investment Advisors Corporation are registered as investment managers under the Financial Instruments and Exchange Act[231] - ORIX has reported its shareholding as a major shareholder of OAM and ORIA under the Financial Instruments and Exchange Act[231]

20.6 19.5 21.5 37.9 41.7 45.4 14.7 13.9 14.3 168.2 241.5 75.0 81.2 22.3 23.3 24.3 6.3 5.3 4.4 5.6 11.2 12.7 11.3 10.2 2.4 2.4 3.3 6.2 19.9 20.4 18.9 22.0 Q1 Q2 Q3 Q4 24.3 707.2 714.5 719.9 675.0 653.5 662.2 134.6 146.1 170.2 1,516.8 1,514.1 1,552.3 10.4% 3.4% 3.6% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% End-FY22.3 End-FY23.3 End-FY24.3 284.9 282.4 303.5 309.0 304.1 295.5 279.7 309.0 2.3% 2.3% 2.3% 2.2% 2.4% 2.3% 2.2% 2.3% -0.3% 0.2% 0.7% 1.2% 1.7% 2.2% 2.7% 0.0 50.0 100.0 150.0 200.0 250.0 300.0 35 ...

Table of Contents 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 February 2024. Commission File Number: 001-14856 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 ...