IX - ORIX Corporation: Portfolio Optimization And Capital Return To Support ROE Target
- ORIX Corporation's net profit fell by -41% YoY to JPY93.8 billion in 1H FY 2021, due to reduced investment gains and the negative impact of COVID-19 on its businesses.
- ORIX Corporation's medium-term ROE target of 11% or higher will be supported by both portfolio optimization and capital return initiatives.
- Nevertheless, ORIX Corporation only expects to return to net profit of JPY300 billion (FY 2020 level prior to COVID-19) by FY 2023.
- ORIX Corporation trades at 9.3 times consensus forward FY 2021 (YE March) P/E and 0.64 times P/B, and it offers a consensus forward FY 2021 dividend yield of 5.2%.
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ORIX Corporation: Portfolio Optimization And Capital Return To Support ROE Target