ORIX Corporation (ORIX) is a financial company engaged in six business segments. Corporate Financial Services is engaged in lending, leasing, commission business for the sale of financial products, and environment-related business. Maintenance Leasing is engaged automobile leasing and rentals, car sharing and precision measuring equipment. Real Estate is engaged in development and rentals of commercial real estate, hotel, golf course, and training facility operation. Investment Banking is engaged in real estate finance, commercial real estate asset securitization, loan servicing (asset recovery), principal investment and venture capital. Retail is engaged in trust and Banking services, card loans, life insurance, and securities brokerage. Overseas Business is engaged in leasing, lending, investment in bonds, investment banking and real estate-related operations. In September 2009, it sold 51% stake of its wholly owned subsidiary, ORIX Credit Corp., to Sumitomo Mitsui Banking Corp.
Quick Financial Synopsis
BRIEF: For the six months ended 30 September 2009, ORIX CORPORATION's revenues decreased 14% to Y471.45B. The Company's net income from continued operation fell 67% to Y15.03B. Revenues reflect lower sales from finance lease and investment bank business segments. Lower net income also reflects unfavorable operating profit, increased loss on valuation of marketable securities, as well as higher reserve for doubtful accounts.