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ORIX posts 10.7% YOY increase in net income for fiscal 2015-2016

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ORIX posts 10.7% YOY increase in net income for fiscal 2015-2016

ORIXCorp. saw its net income increase 10.7% year over year for thefiscal year ended March 31 as total revenues increased in the period.

The company said May 10 that net income attributable to shareholdersrose to ¥260.17 billion, or ¥198.52 per share, from ¥234.95 billion, or ¥179.21per share.

Total revenues for the full fiscal year rose 9.0% to ¥2.369trillion from ¥2.174 trillion. Operating income for the period increased 12%year over year to ¥287.74 billion from ¥256.83 billion.

ORIX aims to achieve a midterm net income target of ¥300billion for the fiscal year ending March 31, 2018 and to maintain ROE of around11% to 12%.  

The company raised its full-year dividend by 27% to ¥45.75per share, comprising an interim dividend of ¥22 per share and yearend dividendof ¥23.75 per share, from ¥36 yen per share in the previous year.

ORIX projects the interim dividend for fiscal 2016-2017 tobe at ¥23 per share.

As of May 9, US$1 was equivalentto ¥108.36.