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Orix (IX) Q2 2027 Earnings Report

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IX Q2 2027 EPS Results

Actual EPS
$3.33
Consensus EPS
$1.56
Beat/Miss
Beat by +$1.78
One Year Ago EPS
$0.95

IX Q2 2027 Revenue Results

Actual Revenue
$5.01B
Expected Revenue
$7.87B
Beat/Miss
Missed by -$2.86B
YoY Revenue Growth
-7.26%

Earnings Announcement Details

Quarter
Q2 2027
Date
11/09/2026
Time
Before Open
Conference Call
Monday, November 9, 2026
IX Upcoming Earnings

Orix's next earnings date is estimated for February 8, 2027, based on past reporting schedules.

Q2 2027 Earnings Call Audio

IX Q2 2027 Earnings Call
0:00 / 0:00

Q2 2027 Earnings Slide Deck

Q2 2027 Earnings Call Summary

Q2 2027
Earnings Call Date:Nov 09, 2026|% Change Since:-1.32%|
Earnings Call Sentiment|Positive

The call was broadly positive on first-half operating performance, with record net income, strong adjusted-profit progress, growth in Europe and the Americas, solid Aircraft and Ships results, asset-management expansion, capital recycling, and increased shareholder returns. However, reported earnings remain highly sensitive to KIOXIA's share price, while Greater China impairments, challenged U.S. businesses, segment declines in Infrastructure and parts of Environment and Energy, cybersecurity incidents, and uncertainty around full-year profit and ROE remain material concerns. Overall, the highlights significantly outweigh the lowlights, although much of the headline earnings strength came from investment gains and remains volatile.

Company Guidance

ORIX kept its full-year net income forecast unchanged at JPY 530 billion, including JPY 80 billion of KIOXIA equity-related profit, while adjusted profits were progressing toward approximately JPY 480 billion; based on KIOXIA's share price of JPY 18,095 at the end of September, it expects approximately JPY 190 billion of KIOXIA sales and valuation losses in the third quarter, with every JPY 1,000 change in KIOXIA's share price estimated to fluctuate after-tax gains by JPY 12.8 billion, and it said it is currently difficult to forecast fourth-quarter KIOXIA sales and valuation gains. The company expects new investments of more than JPY 800 billion for the full year, targets 11% ROE at March end, said next year's rough image was JPY 100 billion times four, maybe slightly higher, maintained its full-year dividend forecast at JPY 187.36 per share, and against a JPY 250 billion share-repurchase limit had repurchased JPY 175.5 billion, a progress of 70%, at the end of October.

  • Record First-Half Net IncomeFirst-half net income was JPY 856.2 billion, almost 3x the same period of the previous year and a record high, driven by gains on sales of ORIX Bank and multiple PE investees, as well as sales and valuation gains on indirectly held KIOXIA shares.
  • Steady Adjusted Profit AccumulationFirst-half adjusted profits totaled JPY 317.5 billion. Second-quarter adjusted profits were JPY 158.4 billion, including approximately JPY 100 billion of core profit, approximately JPY 90 billion of gains on the ORIX Bank sale, and approximately JPY 30 billion of impairments mainly in Greater China.
  • Strong KIOXIA-Related Gains in the First HalfKIOXIA sale and valuation gains were JPY 538.7 billion for the first half, including JPY 417 billion in the second quarter.
  • Segment Profit GrowthTotal segment profits increased by JPY 749.6 billion year-over-year to JPY 1,147.4 billion, with three of the four segments posting profit increases. Insurance segment profit increased by JPY 6.2 billion year-over-year to JPY 57.1 billion, up 188% year-over-year.
  • APAC Segment Benefited from KIOXIA Gains and PE ExitsAPAC first-half segment profit was JPY 916.4 billion, up JPY 790.7 billion year-over-year. KIOXIA sale and valuation gains were JPY 795.7 billion, while the private equity investment unit realized approximately JPY 62.3 billion from the sale of SUGIKO.
  • Europe and Americas GrowthEurope and Americas segment profit increased by JPY 71.5 billion year-over-year to JPY 91.8 billion, driven by sale and valuation gains on multiple U.S. PE investees and continued AUM and asset-management-fee growth, including at Robeco.
  • Aircraft and Ships Performed WellAircraft and Ships contributed to profit growth through gains on aircraft sales, leasing revenues, and asset rotation using diverse sales channels such as JOLs and funds. Management said relatively young aircraft remain in a tight supply-demand relationship and that it is bullish on Aircraft over the midterm.
  • Strong Progress Against Full-Year PlanOverall progress against the full-year plan was 164%. Excluding KIOXIA sale and valuation gains, Finance, Operation, and Investment each progressed approximately 50%; Finance reached 51%, Operation 51%, and Investment 49% excluding KIOXIA-related gains.
  • Capital Recycling Exceeded New InvestmentsFirst-half capital gains were JPY 266.1 billion, cash inflows from investment recovery were approximately JPY 930 billion, and cash outflows from new investments were approximately JPY 340 billion. Capital recovery outpaced new investments during the first half.
  • Portfolio Optimization ProgressORIX transferred all shares of ORIX Bank to Daiwa Next Bank in August and completed exits from multiple PE investees, including SUGIKO, Network Connex, and Peak. ORIX Capital Partners in the United States now has only two remaining portfolio companies.
  • Asset Management ExpansionORIX expanded its asset-management model by transitioning battery-storage plants to an asset-management structure, closing new funds through NXT Capital on its largest-ever scale, increasing commitments from existing investors, adding new institutional investors, and strengthening U.S. distribution and capital-formation capabilities.
  • Battery Storage Joint Investment ModelORIX began construction of the Yufu Battery Storage Plant and Yonezawa Plant through joint investment with three external investors. ORIX's equity stake is 23.7%, while it will provide asset-management services covering decision-making support, development and operation, business management, and maintenance.
  • AerFin Acquisition CompletedORIX completed the acquisition of AerFin as a subsidiary on November 2. AerFin procures, sells, leases, and repairs aircraft engines and parts, serves 600 customers across six continents, and adds aircraft aftermarket capabilities across the aircraft value chain.
  • AerFin Diversifies Aircraft Exit OpportunitiesThrough AerFin, ORIX plans to leverage aircraft and engine asset-management expertise, maximize the value of aircraft it owns and manages, enhance customer solutions, and add parts-out as an exit strategy alongside aircraft leasing and sales. Management also stated that aircraft-parts and engine reuse is intended to support the circular economy.
  • Expanded Asset BaseSegment assets increased by JPY 698.7 billion from the end of the previous fiscal year to JPY 14.9 trillion.
  • Shareholder ReturnsThe interim dividend was JPY 113.56 per share, calculated using adjusted-profit EPS and a 39% payout ratio, up JPY 19.8 year-over-year. The full-year dividend forecast remains JPY 187.36 per share. ORIX had repurchased JPY 175.5 billion of shares by the end of October against a JPY 250 billion limit, representing 70% progress.
  • Ongoing Investment PipelineORIX expects new investments of more than JPY 800 billion for the full year, with planned investments in domestic real estate, domestic PE, aircraft, Osaka IR, and other areas. First-half investments included logistics facilities, aircraft, ships, U.S. real estate, and the first PE investment under the Qatar Investment Authority fund.
  • Interest-Rate Exposure Managed Through ALM and PricingManagement stated that interest-rate impacts on assets, including leasing businesses, are not large because they are managed through asset-liability management. For real estate and other businesses, higher funding costs are being passed through to sales prices over time, including inflationary pressure.
  • Limited U.S. AI Data-Center ExposureManagement said ORIX's U.S. AI data-center-related exposure is very limited and that it does not expect a major impact from potential policy changes. NXT Capital's lower-middle-market senior-loan focus also excludes huge data-center or AI-related exposures.

IX Earnings History

IX earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 08, 20272027 (Q3)0.94-0.69――
Nov 09, 20262027 (Q2)1.553.330.95252.43% (+2.39)
Aug 06, 20262027 (Q1)1.161.620.64153.28% (+0.98)
May 11, 20262026 (Q4)0.350.340.47-28.00% (-0.13)
Feb 09, 20262026 (Q3)0.510.690.5134.18% (+0.17)
Nov 12, 20252026 (Q2)0.570.950.5573.26% (+0.40)
Aug 07, 20252026 (Q1)0.540.640.5222.61% (+0.12)
May 12, 20252025 (Q4)0.660.470.7-32.62% (-0.23)
Feb 10, 20252025 (Q3)0.540.510.53-2.85% (-0.01)
Nov 08, 20242025 (Q2)0.500.550.3746.77% (+0.17)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed