ORIX Corporation: Portfolio Optimization And Capital Return To Support ROE Target [Seeking Alpha]
Orix Corp Ads (IX)
US:NYSE Investor Relations:
orix.co.jp/grp/en/ir
Company Research
Source: Seeking Alpha
SummaryORIX Corporation's net profit fell by -41% YoY to JPY93.8 billion in 1H FY 2021, due to reduced investment gains and the negative impact of COVID-19 on its businesses.ORIX Corporation's medium-term ROE target of 11% or higher will be supported by both portfolio optimization and capital return initiatives.Nevertheless, ORIX Corporation only expects to return to net profit of JPY300 billion (FY 2020 level prior to COVID-19) by FY 2023.ORIX Corporation trades at 9.3 times consensus forward FY 2021 (YE March) P/E and 0.64 times P/B, and it offers a consensus forward FY 2021 dividend yield of 5.2%.Elevator PitchI have a Neutral rating on Japanese financial services conglomerate ORIX Corporation (I recommend that investors wait for signs of either a relaxation of international travel restrictions (negative impact on aircraft leasing and concession businesses) or a QoQ improvement in earnings, prior to consider initiating a position in ORIX Corporation. This will mark the inflection p
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News
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- FUNDVIEW India equity market returns to 'normalise' this fiscal, Canara Robeco Mutual Fund says [Reuters]Reuters
IX
Sec Filings
- 3/6/24 - Form 6-K
- 2/13/24 - Form 13F-HR
- 2/13/24 - Form 6-K
- IX's page on the SEC website