TOKYO (dpa-AFX) - Orix Corporation (IX, 8591.T), a Japanese financial services company, on Thursday reported a surge in net profit for the first quarter.
For the three-month period to June 30, Orix reported net income of JPY 280.832 billion, or JPY 255.56 per share, higher than JPY 107.288 billion, or JPY 94.44 per share in the same period last year. Equity in net income of equity method investments surged to JPY 207.918 billion from last year's JPY 19.440 billion.
Operating earnings were JPY 133.919 billion, compared with JPY 119.918 billion in the previous year. Revenue was JPY 876.628 billion, up from JPY 746.973 billion in the previous year. This increase reflects improved gains on investment securities and dividends, as well as life insurance premiums and related investment income.
Looking ahead, the first half, the financial service provider expects net income of JPY 840 billion, up 209.9% from last year.
For the 12-month period to March 31, 2027 (the full year), Orix anticipates net profit of JPY 530 billion, up 18.5% from the previous year. For the full year, the company intends to pay a total dividend of JPY 187.36 per share, higher than last year's JPY 156.10 per share.
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