Orix Corp Ads Q1 Earnings Call Highlights

ORIX reported a record first-quarter net income of JPY 280.8 billion, up JPY 173.5 billion year over year, largely driven by Kioxia-related gains. The company maintained its full-year net income forecast of JPY 530 billion, despite the volatility of Kioxia's share price. ORIX's dividend policy will now focus on adjusted profits, excluding non-cash Kioxia-related gains and losses, while maintaining a minimum payout ratio. The company also continued its JPY 250 billion buyback program. Core operations, including asset management, aircraft leasing, shipping, and insurance, showed stronger performance. ORIX generated JPY 115.7 billion in capital gains and about JPY 300 billion in capital recycling inflows. The company completed the ORIX Bank transfer to Daiwa Securities and agreed to acquire aircraft-parts specialist AerFin.