Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
24.3
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales1,467,983¥ millionYear on year +7.0%
Operating profit207,333¥ millionYear on year +24.3%
Ordinary income234,510¥ millionYear on year +4.4%
Net income attributable to owners of the parent175,281¥ millionYear on year +13.5%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
Net income per share¥126.04
Financial position at period-end
Total assets38,077,646¥ million
of which net assets 2,045,809 ¥ millionEquity ratio 4.6%vs. prior year-end 0.0pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+438,963
Investment-583,599
Financials+199,423
Net change+54,787
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥3,772,624 million
Segment revenueSegment Wealth Management Division / Net operating revenue ¥295,788 million / yoy_pct ¥15.6 million, Segment Asset Management Division / Net operating revenue ¥111,930 million / yoy_pct ¥9.2 million, Segment Global Markets & Investment Banking Division / Net operating revenue ¥257,395 million / yoy_pct ¥9.9 million
Segment profitSegment Wealth Management Division / Segment profit (ordinary income) ¥112,033 million / yoy_pct ¥38.9 million, Segment Asset Management Division / Segment profit (ordinary income) ¥65,432 million / yoy_pct ¥-15.5 million, Segment Global Markets & Investment Banking Division / Segment profit (ordinary income) ¥58,995 million / yoy_pct ¥38 million
Outlook and shareholder returns
Annual Dividend Forecast¥64 (per share; the full-year lower limit is used for the fiscal year ending March 2027 forecast) → ¥44 (per share; the full-year lower limit is used for the fiscal year ending March 2027 forecast)（-31.3%）
Payout ratio50.8%
Shareholder Return PolicyDividend payout ratio of at least 50%. The full-year dividend per share floor is set at ¥44 for the fiscal years ending March 2025 through March 2027.
Factors Behind Changes in Business Performance
The factors included more active market investment activities and deeper total asset consulting, net inflows into publicly offered investment trusts and rising share prices, property acquisition fees and gains on property sales, growth in flow revenues against the backdrop of a strong equity market, and the execution of numerous M&A transactions in Japan and overseas. In the Asset Management Division, provisions were recorded and impairment losses recognized following the revaluation of certain investments.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 19 / Breakdown New acquisitions of shares in 6 companies, additional acquisitions in 7 companies, new investments in 3 silent partnership businesses, and 3 newly established companies / Company name Not disclosed / Excluded Number of companies 3 / Breakdown Transfer of shares in 1 company, transfer of equity interests in 1 company, and completion of liquidation of 1 company / Company name Not disclosed
Material subsequent eventsDaiwa Next Bank decided to acquire all shares of ORIX Bank and make it a wholly owned subsidiary, and entered into a share transfer agreement on 27 April 2026. The business combination is scheduled to take place by October 2026, with consideration of ¥370 billion. The final acquisition price will be determined after price adjustments and other procedures.
Impairment loss¥791 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥22,793 million, Gain on sale of investment securities ¥11,797 million, Gain on reversal of subscription rights to shares ¥134 million, Gain on changes in equity interests ¥745 million / Total extraordinary income ¥35,471 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥245 million, Loss on sale of investment securities ¥7 million, Impairment Loss on Investment Securities ¥29 million, Loss on sale of shares of subsidiaries and affiliates ¥1,333 million, Impairment Losses on Shares of Affiliates ¥23 million, Loss on changes in equity interests ¥309 million, Provision for the Financial Instruments Transaction Liability Reserve ¥2,002 million, Expenses related to business reorganization and other matters ¥126 million, Provision for compensation loss reserve ¥1,184 million / Total extraordinary loss ¥6,054 million
Depreciation and amortization¥44,418 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts)
Issued Shares at Period-End1,569,378,772 shares
Treasury Shares at Period-End183,731,624 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥1,467,983 million (YoY +7.0%) |
| Operating profit | ¥207,333 million (YoY +24.3%) |
| Ordinary income | ¥234,510 million (YoY +4.4%) |
| Profit attributable to owners of the parent | ¥175,281 million (YoY +13.5%) |
| Net income per share | ¥126.04 |
| Equity ratio | End of the current fiscal period 4.6% / End of previous period 4.6% |
| Total assets | ¥38,077,646 million |
| Net assets | ¥2,045,809 million |
| Cash flows from operating activities | ¥438,963 million |
| Cash flows from investing activities | ¥-583,599 million |
| Cash flows from financing activities | ¥199,423 million |
| Cash and cash equivalents at end of period | ¥3,772,624 million |
| Annual Dividend Forecast | ¥64 (per share; the full-year lower limit is used for the fiscal year ending March 2027 forecast) → ¥44 (per share; the full-year lower limit is used for the fiscal year ending March 2027 forecast)（-31.3%） |
| Payout ratio | 50.8% |
| Shareholder Return Policy | Dividend payout ratio of at least 50%. The full-year dividend per share floor is set at ¥44 for the fiscal years ending March 2025 through March 2027. |
| Segment revenue | Segment Wealth Management Division / Net operating revenue ¥295,788 million / yoy_pct ¥15.6 million, Segment Asset Management Division / Net operating revenue ¥111,930 million / yoy_pct ¥9.2 million, Segment Global Markets & Investment Banking Division / Net operating revenue ¥257,395 million / yoy_pct ¥9.9 million |
| Segment profit | Segment Wealth Management Division / Segment profit (ordinary income) ¥112,033 million / yoy_pct ¥38.9 million, Segment Asset Management Division / Segment profit (ordinary income) ¥65,432 million / yoy_pct ¥-15.5 million, Segment Global Markets & Investment Banking Division / Segment profit (ordinary income) ¥58,995 million / yoy_pct ¥38 million |
| Depreciation and amortization | ¥44,418 million |
| Impairment loss | ¥791 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥22,793 million, Gain on sale of investment securities ¥11,797 million, Gain on reversal of subscription rights to shares ¥134 million, Gain on changes in equity interests ¥745 million / Total extraordinary income ¥35,471 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥245 million, Loss on sale of investment securities ¥7 million, Impairment Loss on Investment Securities ¥29 million, Loss on sale of shares of subsidiaries and affiliates ¥1,333 million, Impairment Losses on Shares of Affiliates ¥23 million, Loss on changes in equity interests ¥309 million, Provision for the Financial Instruments Transaction Liability Reserve ¥2,002 million, Expenses related to business reorganization and other matters ¥126 million, Provision for compensation loss reserve ¥1,184 million / Total extraordinary loss ¥6,054 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 19 / Breakdown New acquisitions of shares in 6 companies, additional acquisitions in 7 companies, new investments in 3 silent partnership businesses, and 3 newly established companies / Company name Not disclosed / Excluded Number of companies 3 / Breakdown Transfer of shares in 1 company, transfer of equity interests in 1 company, and completion of liquidation of 1 company / Company name Not disclosed |
| Material subsequent events | Daiwa Next Bank decided to acquire all shares of ORIX Bank and make it a wholly owned subsidiary, and entered into a share transfer agreement on 27 April 2026. The business combination is scheduled to take place by October 2026, with consideration of ¥370 billion. The final acquisition price will be determined after price adjustments and other procedures. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts) |
| Issued Shares at Period-End | 1,569,378,772 shares |
| Treasury Shares at Period-End | 183,731,624 shares |
| Factors Behind Changes in Business Performance | The factors included more active market investment activities and deeper total asset consulting, net inflows into publicly offered investment trusts and rising share prices, property acquisition fees and gains on property sales, growth in flow revenues against the backdrop of a strong equity market, and the execution of numerous M&A transactions in Japan and overseas. In the Asset Management Division, provisions were recorded and impairment losses recognized following the revaluation of certain investments. |
Items this document does not state (5)
Operating MarginFull-year earnings forecastRevision to Earnings ForecastRegional salesOrders received and order backlog
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The factors cited include more active market investment activities, deeper total asset consulting, net inflows into publicly offered investment trusts and rising share prices, property acquisition fees and gains on property sales, growth in flow revenues against the backdrop of the equity market, and the execution of numerous M&A transactions in Japan and overseas. The company explained that it was difficult to provide an earnings forecast because results are significantly affected by economic conditions and market environments.
How to read this page
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