FORM 6-K
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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 OF

THE SECURITIES EXCHANGE Act of 1934

For the month of June 2015

 

 

ORIX Corporation

(Translation of Registrant’s Name into English)

 

 

World Trade Center Bldg., 2-4-1 Hamamatsu-cho, Minato-Ku,

Tokyo, JAPAN

(Address of Principal Executive Offices)

 

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  x        Form 40-F  ¨

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes  ¨        No  x

 

 

 


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Table of Documents Filed

 

  Page

English press release entitled, “Partial Amendments to Consolidated Financial Results April  1, 2014 – March 31, 2015”


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

ORIX Corporation

Date: June 25, 2015

By

/s/ Kazuo Kojima

Kazuo Kojima

Director

Deputy President & CFO

ORIX Corporation


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LOGO

Amendments to Consolidated Financial Results April 1, 2014 – March 31, 2015

TOKYO, Japan — June 25, 2015 — ORIX Corporation has amended a part of the consolidated financial results April 1, 2014 – March 31, 2015, which it first announced on May 12, 2015. The amendments were made to numerical data in the financial statement, as detailed and underlined below.


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(5) Condensed Consolidated Statements of Cash Flows

(For the Years Ended March 31, 2014 and 2015)

(Unaudited)

Before correction

 

 

Millions of yen

 

Year ended
March 31,

2014

Year ended
March 31,

2015

Cash Flows from Operating Activities:

Net income

195,287   255,257  

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

206,670   229,583  

Provision for doubtful receivables and probable loan losses

13,838   11,631  

Equity in net income of affiliates (excluding interest on loans)

(18,159)  (30,267) 

Gains on sales of subsidiaries and affiliates and liquidation losses, net

(64,923)  (20,575) 

Bargain purchase gain

-   (36,082) 

Gains on sales of available-for-sale securities

(14,149)  (32,077) 

Gains on sales of operating lease assets

(23,692)  (34,425) 

Write-downs of long-lived assets

23,421   34,887  

Write-downs of securities

7,989   8,997  

Decrease (Increase) in restricted cash

22,366   (1,922) 

Decrease in trading securities

21,300   441,554  

Decrease (Increase) in inventories

25,581   (13,481) 

Increase in trade notes, accounts and other receivable

(17,572)  (20,742) 

Increase in trade notes, accounts and other payable

26,505   34,275  

Increase (Decrease) in policy liabilities and policy account balances

28,429   (506,043) 

Other, net

45,115   (62,959) 
  

 

  

 

Net cash provided by operating activities

478,006   257,611  
  

 

  

 

Cash Flows from Investing Activities:

Purchases of lease equipment

(859,568)  (907,484) 

Principal payments received under direct financing leases

459,003   488,522  

Installment loans made to customers

(1,035,564)  (1,109,458) 

Principal collected on installment loans

1,264,645   977,272  

Proceeds from sales of operating lease assets

251,904   272,040  

Investment in affiliates, net

(45,084)  (27,698) 

Proceeds from sales of investment in affiliates

15,429   2,128  

Purchases of available-for-sale securities

(897,246)  (982,415) 

Proceeds from sales of available-for-sale securities

318,697   511,868  

Proceeds from redemption of available-for-sale securities

473,126   398,280  

Purchases of held-to-maturity securities

(8,519)  (20,522) 

Purchases of other securities

(24,761)  (27,489) 

Proceeds from sales of other securities

26,501   67,982  

Purchases of property under facility operations

(48,195)  (81,311) 

Acquisitions of subsidiaries, net of cash acquired

(94,586)  (73,240) 

Sales of subsidiaries, net of cash disposed

-   47,800  

Other, net

(11,096)  (4,076) 
  

 

  

 

Net cash used in investing activities

(215,314)  (467,801) 
  

 

  

 

Cash Flows from Financing Activities:

Net increase (decrease) in debt with maturities of three months or less

(106,783)  3,819  

Proceeds from debt with maturities longer than three months

1,211,797   1,302,151  

Repayment of debt with maturities longer than three months

(1,501,403)  (1,142,682) 

Net increase in deposits due to customers

127,610   80,924  

Cash dividends paid to ORIX Corporation shareholders

(15,878)  (30,117) 

Contribution from noncontrolling interests

11,089   7,919  

Net increase (decrease) in call money

(5,000)  6,000  

Other, net

864   (14,582) 
  

 

  

 

Net cash provided by (used in) financing activities

(277,704)  213,432  
  

 

  

 

Effect of Exchange Rate Changes on Cash and Cash Equivalents

6,755   6,237  
  

 

  

 

Net increase (decrease) in Cash and Cash Equivalents

(8,257)  9,479  

Cash and Cash Equivalents at Beginning of Year

826,296   818,039  
  

 

  

 

Cash and Cash Equivalents at End of Year

                818,039                   827,518  
  

 

  

 


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After correction

 

 

Millions of yen

 

Year ended
March 31,

2014

Year ended
March 31,

2015

Cash Flows from Operating Activities:

Net income

195,287   255,257  

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

206,670   229,583  

Provision for doubtful receivables and probable loan losses

13,838   11,631  

Equity in net income of affiliates (excluding interest on loans)

(18,159)  (30,267) 

Gains on sales of subsidiaries and affiliates and liquidation losses, net

(64,923)  (20,575) 

Bargain purchase gain

-   (36,082) 

Gains on sales of available-for-sale securities

(14,149)  (32,077) 

Gains on sales of operating lease assets

(23,692)  (34,425) 

Write-downs of long-lived assets

23,421   34,887  

Write-downs of securities

7,989   8,997  

Decrease (Increase) in restricted cash

22,366   (1,922) 

Decrease in trading securities

21,300   441,554  

Decrease (Increase) in inventories

25,581   (13,481) 

Increase in trade notes, accounts and other receivable

(17,572)  (20,742) 

Increase in trade notes, accounts and other payable

26,505   34,275  

Increase (Decrease) in policy liabilities and policy account balances

28,429   (506,043) 

Other, net

45,115   (62,959) 
  

 

  

 

Net cash provided by operating activities

478,006   257,611  
  

 

  

 

Cash Flows from Investing Activities:

Purchases of lease equipment

(859,568)  (907,484) 

Principal payments received under direct financing leases

459,003   488,522  

Installment loans made to customers

(1,035,564)  (1,109,458) 

Principal collected on installment loans

1,264,645   977,272  

Proceeds from sales of operating lease assets

251,904   272,040  

Investment in affiliates, net

(45,084)  (27,698) 

Proceeds from sales of investment in affiliates

15,429   2,128  

Purchases of available-for-sale securities

(897,246)  (982,415) 

Proceeds from sales of available-for-sale securities

318,697   511,868  

Proceeds from redemption of available-for-sale securities

473,126   398,280  

Purchases of held-to-maturity securities

(8,519)  (20,522) 

Purchases of other securities

(24,761)  (27,489) 

Proceeds from sales of other securities

26,501   67,982  

Purchases of property under facility operations

(48,195)  (81,311) 

Acquisitions of subsidiaries, net of cash acquired

(94,586)  (73,240) 

Sales of subsidiaries, net of cash disposed

-   47,800  

Other, net

(11,096)  (4,076) 
  

 

  

 

Net cash used in investing activities

(215,314)  (467,801) 
  

 

  

 

Cash Flows from Financing Activities:

Net increase (decrease) in debt with maturities of three months or less

(106,783)  3,819  

Proceeds from debt with maturities longer than three months

1,211,797   1,337,870  

Repayment of debt with maturities longer than three months

(1,501,403)  (1,178,401) 

Net increase in deposits due to customers

127,610   80,924  

Cash dividends paid to ORIX Corporation shareholders

(15,878)  (30,117) 

Contribution from noncontrolling interests

11,089   7,919  

Net increase (decrease) in call money

(5,000)  6,000  

Other, net

864   (14,582) 
  

 

  

 

Net cash provided by (used in) financing activities

(277,704)  213,432  
  

 

  

 

Effect of Exchange Rate Changes on Cash and Cash Equivalents

6,755   6,237  
  

 

  

 

Net increase (decrease) in Cash and Cash Equivalents

(8,257)  9,479  

Cash and Cash Equivalents at Beginning of Year

826,296   818,039  
  

 

  

 

Cash and Cash Equivalents at End of Year

                818,039                   827,518  
  

 

  

 


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Contact Information:

ORIX Corporation

Corporate Planning Department

Tel: +81-3-3435-3121

About ORIX:

ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since its first overseas expansion into Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in a total of 36 countries and regions across the world. Moving forward, ORIX aims to contribute to society while continuing to capture new business opportunities. For more details, please visit our website: http://www.orix.co.jp/grp/en/

Caution Concerning Forward Looking Statements:

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 our Form 20-F submitted to the U.S. Securities and Exchange Commission on June 26, 2014 and under “4. Risk Factors” of the “Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2014 – March 31, 2015.”