ORIX Corporation (IX) Q3 2025 Earnings Call Transcript

2025-02-12 20:11:02 ET

ORIX Corporation (IX)

Q3 2025 Results Conference Call

February 10, 2025 02:30 AM ET

Company Participants

Sachiko Nakane - Investor Relations and Sustainability Department

Makoto Inoue - Chairman, President and CEO

Kazuki Yamamoto - Operating Officer, Corporate Planning and Investor Relations

Conference Call Participants

Koki Sato - JPMorgan Chase

Masao Muraki - SMBC Nikko Securities

Naruhiko Sakamaki - Mizuho Securities

Kazuki Watanabe - Daiwa Securities

Natsumu Tsujino - BofA Securities

Futoshi Sasaki - Nomura Securities

Wataru Otsuka - SBI Securities

Presentation

Sachiko Nakane

It's time to begin the meeting. Thank you very much for taking time over your busy schedule to join us for the ORIX Corporation Third Quarter Earnings Call for Fiscal Year Ending March 2025. I'm the master of ceremony today, my name Nakane from IR Sustainability Department. Thank you for this opportunity.

And today, we have operating officer in charge of IR, Kazuki Yamamoto, participating in this meeting.

And before we begin, we would like to ask the participants to make sure to turn off any communication devices such as mobile phone nearby in order to prevent feedback or keep it away from the phone.

Mr. Yamamoto's presentation will be followed by Q&A. Yamamoto-san, please start.

Kazuki Yamamoto

Thank you for the introduction. Thank you very much for taking time out of your busy schedule today to join us in the ORIX Group's financial briefing. My name is Kazuki Yamamoto, and I'm in charge of Corporate Planning & Investor Relations.

Without further ado, I would now like to explain our financial results for the third quarter of the fiscal year ending March 31, 2025, announced back at 3:00 today.

Please turn to Page 2 of the presentation material. First, let me explain the main points I would like to convey today. First, I will discuss net income. Net income for the third quarter was JPY88.8 billion while the cumulative total for the nine months ending in December 2024 was JPY271.8 billion, which is up 24% year-over-year, and this is an annualized ROE of 9%. And this is a progress of 70% toward the full year FY '25 March end and net income target of JPY390 billion. This is also a record high for the nine months year-to-date period.

The second point is regarding progress in the three portfolio categories. The Finance category continued to be a stable source of earnings. The increase in Insurance investment income and other factors offset the decrease in profit caused by the transition of ORIX Credit into an equity method affiliate....

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