ORIX : Financial Results Supplementary Information

Consolidated Financial Results

Supplementary Information

for the Nine-months Ended December 31, 2021

ORIX Corporation

(NYSE: IX; TSE: 8591)

February 7, 2022

Contents

Page
1	Financial Highlights		: Financial Highlights, Key Ratios, Per Share Data and Employees
2	Segment Information		: Segment Profits, Assets and ROA
3	Segment Asset Details	: Assets by Segment
4-5	Corporate Financial Services and Maintenance Leasing (1) (2)	: Segment Revenues, Profits and Assets
6-7	Real Estate (1)(2)		: Segment Revenues, Profits and Assets
8-9	PE Investment and Concession (1) (2)	: Segment Revenues, Profits and Assets
10-11	Environment and Energy (1) (2)	: Segment Revenues, Profits and Assets
12-13	Insurance (1) (2)		: Segment Revenues, Profits and Assets
14-15	Banking and Credit (1) (2)	: Segment Revenues, Profits and Assets
16-17	Aircraft and Ships (1) (2)	: Segment Revenues, Profits and Assets
18-19	ORIX USA (1) (2)		: Segment Revenues, Profits and Assets
20-21	ORIX Europe (1) (2)		: Segment Revenues, Profits and Assets
22-23	Asia and Australia (1) (2)	: Segment Revenues, Profits and Assets
24	Key Quarterly Financial Information (1)	: Income Statement Data, Yields on Assets
25	Key Quarterly Financial Information (2)	: Balance Sheet Data, Key Exchange Rate
26	Information Regarding Major Assets (1)	: New Business Volumes, Net Investment in Leases & Installment Loans
27	Information Regarding Major Assets (2)	: Operating Leases & Asset Quality (Net Investment in Leases & Installment Loans)
28	Information Regarding Major Assets (3)	: Allowance for Credit Losses, Provision for Credit Losses
29	Information Regarding Major Assets (4)	: Investment in Securities
30	Funding (1)		: Funding, Share of Long-Term Debt, Funding Structure & Funding Costs (including Deposits)
31	Funding (2)		: Commitment Lines, Liquidity & Credit Ratings
This document has been prepared based upon quarterly financial information in accordance with U.S. GAAP.
For annual and more historical data please access our website.
	IR Website URL:	https://www.orix.co.jp/grp/en/ir/
	IR Library URL:	https://www.orix.co.jp/grp/en/ir/library/

Disclaimer

These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and those described under "Business Risk" of the securities report (Yukashoken houkokusho) filed with the Director of the Kanto Local Finance Bureau and financial results filed to Tokyo Stock Exchange.

ORIX Corporation

Investor Relations and Sustainability Department

World Trade Center Bldg. SOUTH TOWER, 2-4-1Hamamatsu-cho,Minato-ku

Tokyo 105-5135, Japan

Tel: [phone]

											(Unaudited)
Financial Highlights
											(Millions of yen)
Financial Highlights	2019.4-2020.3	2020.4-6	2020.7-9	2020.10-12	2020.4-12	2021.1-3	2020.4-2021.3	2021.4-6	2021.7-9	2021.10-12		2021.4-12
Total Revenues	2,280,329	537,641	547,097	580,956	1,665,694	627,014	2,292,708	608,813	632,721	626,579		1,868,113
Income before Income Taxes	412,561	67,631	66,543	75,407	209,581	77,980	287,561	100,056	120,733	95,900		316,689
Net Income Attributable to ORIX Corporation Shareholders	302,700	50,048	43,794	48,173	142,015	50,369	192,384	65,216	81,466	64,659		211,341
Total Assets *1	13,067,528	13,092,507	13,168,070	13,324,491	13,324,491	13,563,082	13,563,082	13,581,966	13,834,678	14,091,160		14,091,160
Total Liabilities *1	9,991,362	10,076,751	10,127,385	10,322,277	10,322,277	10,459,938	10,459,938	10,466,715	10,626,179	10,846,395		10,846,395
Total ORIX Corporation Shareholders' Equity *1	2,993,608	2,935,174	2,979,684	2,938,261	2,938,261	3,028,456	3,028,456	3,047,532	3,117,654	3,147,960		3,147,960

*1 Accounting Standards Update 2016-13 ("Measurement of Credit Losses on Financial Instruments"-ASC 326 ("Financial Instruments-Credit Losses")) has been adopted since the first quarter of fiscal 2021.

Financial Indicators (1)		2019.4-2020.3	2020.4-6	2020.7-9	2020.10-12	2020.4-12	2021.1-3	2020.4-2021.3	2021.4-6	2021.7-9	2021.10-12	2021.4-12
Return on Equity	(ROE)	10.3%	6.8%	6.3%	6.4%	6.4%	6.4%	6.4%	8.6%	9.5%	9.1%	9.1%
Return on Assets	(ROA)	2.40%	1.53%	1.43%	1.43%	1.43%	1.44%	1.44%	1.92%	2.14%	2.04%	2.04%
Return on Segment Assets (ROA)	2.90%	1.84%	1.72%	1.72%	1.72%	1.73%	1.73%	2.30%	2.56%	2.42%	2.42%

• All of the above are calculated using accumulated Net Income Attributable to ORIX Corporation Shareholders.

Financial Indicators (2)		2019.4-2020.3	2020.4-6	2020.7-9	2020.10-12	2020.4-12	2021.1-3	2020.4-2021.3	2021.4-6	2021.7-9	2021.10-12	2021.4-12
Shareholders' Equity Ratio		22.9%	22.4%	22.6%	22.1%	22.1%	22.3%	22.3%	22.4%	22.5%	22.3%	22.3%
Debt-to-Equity Ratio	(times)
(Short- and Long-Term Debt+Deposits)/Shareholders' Equity	2.3	2.4	2.3	2.4	2.4	2.3	2.3	2.3	2.3	2.3	2.3
(Short- and Long-Term Debt)/Shareholders' Equity	1.5	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6
Shareholders' Equity Per Share	(yen)	2,386.35	2,355.21	2,392.31	2,407.57	2,407.57	2,487.77	2,487.77	2,514.38	2,593.96	2,638.20	2,638.20
Basic EPS	(yen)	237.38	40.08	35.15	39.00	114.27	41.35	155.54	53.65	67.51	54.00	175.17
Diluted EPS	(yen)	237.17	40.05	35.12	38.97	114.17	41.31	155.39	53.61	67.43	53.94	174.98
Number of Employees		31,233	31,857	31,673	33,283	33,283	33,153	33,153	33,344	33,139	32,951	32,951

• Shareholders' Equity Ratio, Debt-to-Equity Ratio and Shareholders' Equity Per Share are calculated using Total ORIX Corporation Shareholders' Equity.

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(Unaudited)

Segment Information

(Millions of yen)

Segment	Segment Information	2019.4-2020.3	2020.4-6	2020.7-9	2020.10-12	2020.4-12	2021.1-3	2020.4-2021.3	2021.4-6	2021.7-9	2021.10-12	2021.4-12
Corporate Financial Services and	Segment Profits	74,712	13,292	17,802	19,348	50,442	20,285	70,727	20,279	32,122	18,667	71,068
Maintenance Leasing	Segment Assets	1,804,216	1,758,504	1,724,711	1,707,928	1,707,928	1,676,063	1,676,063	1,635,925	1,659,642	1,637,034	1,637,034
	Segment Asset ROA	2.80%	2.04%	2.41%	2.62%	2.62%	2.78%	2.78%	3.36%	4.30%	3.92%	3.92%
Real Estate	Segment Profits	81,513	1,850	9,159	5,566	16,575	9,311	25,886	11,013	12,847	4,001	27,861
	Segment Assets	821,194	816,468	827,330	834,678	834,678	872,095	872,095	864,348	878,068	888,077	888,077
	Segment Asset ROA	7.06%	0.62%	1.83%	1.83%	1.83%	2.09%	2.09%	3.48%	3.74%	2.89%	2.89%
PE Investment and Concession	Segment Profits	44,508	4,601	(307)	286	4,580	(738)	3,842	268	1,566	(12,077)	(10,243)
	Segment Assets	322,522	332,390	322,588	398,970	398,970	378,698	378,698	382,004	368,794	356,907	356,907
	Segment Asset ROA	12.17%	3.84%	1.16%	0.39%	0.39%	0.00%	0.00%	(0.98)%	(0.39)%	(3.55)%	(3.55)%
Environment and Energy	Segment Profits	11,147	7,721	5,878	3,486	17,085	10,458	27,543	4,489	5,174	8,784	18,447
	Segment Assets	464,273	468,203	463,334	461,938	461,938	489,174	489,174	490,892	695,445	696,957	696,957
	Segment Asset ROA	1.80%	4.65%	4.07%	3.42%	3.42%	4.08%	4.08%	2.51%	2.24%	2.84%	2.84%
Insurance	Segment Profits	45,954	18,255	17,053	16,239	51,547	4,605	56,152	15,489	17,520	12,688	45,697
	Segment Assets	1,580,158	1,663,980	1,710,425	1,887,966	1,887,966	1,959,521	1,959,521	1,951,533	1,962,961	2,073,511	2,073,511
	Segment Asset ROA	2.34%	3.22%	3.08%	2.84%	2.84%	2.28%	2.28%	2.28%	2.42%	2.17%	2.17%
Banking and Credit	Segment Profits	40,816	11,903	13,267	13,228	38,398	11,515	49,913	12,759	9,306	12,360	34,425
	Segment Assets	2,603,736	2,629,450	2,676,617	2,707,265	2,707,265	2,690,627	2,690,627	2,702,780	2,709,991	2,698,248	2,698,248
	Segment Asset ROA	1.14%	1.25%	1.31%	1.32%	1.32%	1.29%	1.29%	1.30%	1.12%	1.17%	1.17%
Aircraft and Ships	Segment Profits	44,885	7,584	(2,057)	(1,183)	4,344	1,013	5,357	(4,831)	5,449	2,592	3,210
	Segment Assets	585,304	586,132	568,866	559,971	559,971	601,762	601,762	593,642	615,640	645,870	645,870
	Segment Asset ROA	6.69%	5.09%	1.82%	0.92%	0.92%	0.82%	0.82%	(3.44)%	(0.14)%	0.30%	0.30%
ORIX USA	Segment Profits	50,955	(585)	10,466	15,239	25,120	15,176	40,296	25,163	22,451	20,602	68,216
	Segment Assets	1,374,027	1,316,795	1,294,184	1,235,854	1,235,854	1,220,081	1,220,081	1,209,142	1,188,438	1,336,869	1,336,869
	Segment Asset ROA	3.19%	(0.14)%	1.17%	2.03%	2.03%	2.45%	2.45%	6.55%	6.25%	5.62%	5.62%
ORIX Europe	Segment Profits	45,084	7,189	9,914	9,986	27,089	12,357	39,446	13,472	15,119	27,576	56,167
	Segment Assets	317,847	326,740	318,682	337,172	337,172	369,546	369,546	368,030	397,073	405,055	405,055
	Segment Asset ROA	10.23%	6.69%	8.06%	8.27%	8.27%	8.61%	8.61%	10.96%	11.19%	14.50%	14.50%
Asia and Australia	Segment Profits	11,787	6,857	(3,066)	3,457	7,248	5,876	13,124	8,780	11,705	15,448	35,933
	Segment Assets	1,010,268	1,007,993	992,937	1,017,211	1,017,211	1,084,222	1,084,222	1,111,153	1,125,430	1,213,353	1,213,353
	Segment Asset ROA	0.88%	2.04%	0.57%	0.71%	0.71%	0.94%	0.94%	2.40%	2.78%	3.13%	3.13%
Total	Segment Profits	451,361	78,667	78,109	85,652	242,428	89,858	332,286	106,881	133,259	110,641	350,781
	Segment Assets	10,883,545	10,906,655	10,899,674	11,148,953	11,148,953	11,341,789	11,341,789	11,309,449	11,601,482	11,951,881	11,951,881
Adjustment of Segment Profits to Consolidated Statement	(38,800)	(11,036)	(11,566)	(10,245)	(32,847)	(11,878)	(44,725)	(6,825)	(12,526)	(14,741)	(34,092)
Amounts
Income before Income Taxes		412,561	67,631	66,543	75,407	209,581	77,980	287,561	100,056	120,733	95,900	316,689

• Segment Asset ROA is calculated using accumulated Segment Profits (after tax).
  Since the first quarter of fiscal 2022, the tax rate used to calculate Segment Asset ROA has been changed based on the company belonging to each segment. As a result, Segment Asset ROA for the previous fiscal year has been retrospectively restated.
• Accounting Standards Update 2016-13 ("Measurement of Credit Losses on Financial Instruments"―ASC 326 ("Financial Instruments―Credit Losses")) has been adopted since the first quarter of fiscal 2021.
• Since the first quarter of fiscal 2021, the operating segments have been reorganized. As a result of this change, segment data for the previous fiscal year has been retrospectively restated.
• Since the first quarter of fiscal 2021, the method of allocating selling, general and administrative expenses to segments has been changed. As a result, segment data for the previous fiscal year has been retrospectively restated.
• Since the first quarter of fiscal 2022, the method of allocating interest expenses and selling, general and administrative expenses to segments has been changed. As a result, segment data for the previous fiscal year has been retrospectively restated.
• Since the first quarter of fiscal 2022, a portion of the leasing business in the Environment and Energy segment was transferred to the Corporate Financial Services and Maintenance Leasing segment. As a result, segment data for the previous fiscal year has been retrospectively restated.

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											(Unaudited)
	Segment Asset Details
2020.3											(Millions of yen)
		Corporate Financial		PE Investment	Environment		Banking and	Aircraft and			Asia and
	Assets by Segment	Services and	Real Estate	Insurance	ORIX USA	ORIX Europe	Total
	Maintenance	and Concession	and Energy	Credit	Ships	Australia
		Leasing
	Net Investment in Leases *	663,150	73,279	141	10,832	－	－	1,839	1,172	－	330,346	1,080,759
Installment Loans	379,541	－	－	－	17,720	2,318,347	24,088	778,249	－	222,465	3,740,410
Investment in Operating Leases	572,492	319,550	9,367	1,958	29,271	－	253,717	9,148	－	195,660	1,391,163
Investment in Securities	28,616	7,274	17,916	191	1,528,042	273,218	－	320,217	38,057	29,248	2,242,779
Property under Facility Operations and Servicing Assets	19,992	140,416	43,735	338,695	－	－	－	66,416	－	2,600	611,854
Inventories	736	82,762	40,263	394	－	－	－	1,442	－	242	125,839
Advances for Finance Lease and Operating Lease	293	37,272	－	1,861	－	－	4,990	1,259	－	1,742	47,417
Investment in Affiliates	18,347	91,835	68,603	82,253	－	400	284,453	52,361	1,495	221,853	821,600
Advances for Property under Facility Operations	760	7,327	245	12,229	－	－	－	－	－	－	20,561
Goodwill, Intangible Assets Acquired in Business Combinations	120,289	61,479	142,252	15,860	5,125	11,771	16,217	143,763	278,295	6,112	801,163
Total	1,804,216	821,194	322,522	464,273	1,580,158	2,603,736	585,304	1,374,027	317,847	1,010,268	10,883,545
2021.3											(Millions of yen)
		Corporate Financial		PE Investment	Environment		Banking and	Aircraft and			Asia and
	Assets by Segment	Services and	Real Estate	Insurance	ORIX USA	ORIX Europe	Total
	Maintenance	and Concession	and Energy	Credit	Ships	Australia
		Leasing
	Net Investment in Leases *	610,366	66,371	1,541	8,978	－	－	2,994	458	－	338,603	1,029,311
Installment Loans	330,917	－	－	－	17,315	2,402,916	30,757	617,822	－	271,038	3,670,765
Investment in Operating Leases	548,677	291,877	23,455	2,051	28,909	－	262,482	5,317	－	235,182	1,397,950
Investment in Securities	30,318	8,543	12,918	814	1,908,148	275,740	－	342,631	45,540	32,804	2,657,456
Property under Facility Operations and Servicing Assets	18,726	149,479	43,972	262,016	－	－	－	72,094	－	1,284	547,571
Inventories	630	94,429	45,597	396	－	－	－	603	－	377	142,032
Advances for Finance Lease and Operating Lease	500	98,820	－	1,392	－	－	578	378	－	3,064	104,732
Investment in Affiliates	18,049	99,105	55,421	180,492	－	200	293,469	43,816	1,770	195,413	887,735
Advances for Property under Facility Operations	－	4,089	6,732	19,963	－	－	－	－	－	－	30,784
Goodwill, Intangible Assets Acquired in Business Combinations	117,880	59,382	189,062	13,072	5,149	11,771	11,482	136,962	322,236	6,457	873,453
Total	1,676,063	872,095	378,698	489,174	1,959,521	2,690,627	601,762	1,220,081	369,546	1,084,222	11,341,789
2021.12											(Millions of yen)
		Corporate Financial		PE Investment	Environment		Banking and	Aircraft and			Asia and
	Assets by Segment	Services and	Real Estate	Insurance	ORIX USA	ORIX Europe	Total
	Maintenance	and Concession	and Energy	Credit	Ships	Australia
		Leasing
	Net Investment in Leases *	601,017	63,139	1,487	8,702	－	－	1,571	454	－	375,447	1,051,817
Installment Loans	321,363	－	－	701	17,693	2,407,866	80,901	720,049	－	303,047	3,851,620
Investment in Operating Leases	526,753	284,121	43,965	204	28,550	－	247,575	5,027	－	263,710	1,399,905
Investment in Securities	36,362	7,669	12,534	874	2,022,153	278,511	－	354,827	79,460	33,145	2,825,535
Property under Facility Operations and Servicing Assets	17,519	157,024	40,241	372,339	－	－	－	74,391	－	1,046	662,560
Inventories	520	97,102	38,827	368	－	－	73	606	－	430	137,926
Advances for Finance Lease and Operating Lease	444	112,301	－	14	－	－	－	753	－	6,088	119,600
Investment in Affiliates	17,257	102,149	46,180	197,094	－	100	305,548	40,615	1,996	223,972	934,911
Advances for Property under Facility Operations	－	6,764	1,187	17,296	－	－	－	－	－	－	25,247
Goodwill, Intangible Assets Acquired in Business Combinations	115,799	57,808	172,486	99,365	5,115	11,771	10,202	140,147	323,599	6,468	942,760
Total	1,637,034	888,077	356,907	696,957	2,073,511	2,698,248	645,870	1,336,869	405,055	1,213,353	11,951,881

• Since the first quarter of fiscal 2021, the operating segments have been reorganized. As a result of this change, segment data for the previous fiscal year has been retrospectively restated.

• Since the first quarter of fiscal 2022, a portion of the leasing business in the Environment and Energy segment was transferred to the Corporate Financial Services and Maintenance Leasing segment. As a result, segment data for the previous fiscal year has been retrospectively restated.

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