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ORIX 9-month net income rises 0.8% YOY

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ORIX 9-month net income rises 0.8% YOY

ORIX Corp.'s net income for the nine months ended Dec. 31, 2016, edged up 0.8% year over year.

The company's net income attributable to shareholders climbed to ¥217.12 billion from ¥215.36 billion in the prior-year period. EPS increased to ¥165.74 from ¥164.35.

Operating income for the period declined to ¥247.57 billion from ¥252.62 billion.

Total revenues jumped to ¥1.926 trillion from ¥1.797 trillion, with life insurance premiums and related investment income higher at ¥221.40 billion, compared to ¥160.74 billion in the year-ago period.

Total expenses rose to ¥1.678 trillion from ¥1.544 trillion. Provision for doubtful receivables and probable loan losses more than doubled to ¥12.37 billion from ¥5.94 billion in the prior-year period.

The company is targeting ¥300 billion in net income for the fiscal year ending March 31, 2018. It continues to expect a year-end dividend of ¥28 per share for the full year ending March 31, 2017.

As of Jan. 25, US$1 was equivalent to ¥113.64.