欧力士 2025年年度报告和过渡报告

TABLE OF CONTENTS Certain Defined Terms, Conventions and Presentation of Financial InformationForward-Looking StatementsPART IItem 1.Identity of Directors, Senior Management and AdvisersItem 2.Offer Statistics and Expected TimetableItem 3.Key InformationItem 4.Information on the CompanyItem 4A.Unresolved Staff CommentsItem 5.Operating and Financial Review and ProspectsItem 6.Directors, Senior Management and EmployeesItem 7.Major Shareholders and Related Party TransactionsItem 8.Financial InformationItem 9.The Offer and ListingItem 10.Additional InformationItem 11.Quantitative and Qualitative Disclosures about Market RiskItem 12.Description of Securities Other than Equity SecuritiesPART IIItem 13.Defaults, Dividend Arrearages and DelinquenciesItem 14.Material Modifications to the Rights of Security Holders and Use of ProceedsItem 15.Controls and ProceduresItem16A.Audit Committee Financial ExpertItem16B.Code of EthicsItem16C.Principal Accountant Fees and ServicesItem16D.Exemptions from the Listing Standards for Audit CommitteesItem16E.Purchases of Equity Securities by the Issuer and Affiliated PurchasersItem16F.Change in Registrant’s Certifying AccountantItem16G.Corporate GovernanceItem16H.Mine Safety DisclosureItem16I.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsItem16J.Insider Trading PoliciesItem16K.CybersecurityPART IIIItem 17.Financial StatementsItem 18.Financial StatementsItem 19.ExhibitsSIGNATURESINDEX TO CONSOLIDATED FINANCIAL STATEMENTS CERTAIN DEFINED TERMS, CONVENTIONS ANDPRESENTATION OF FINANCIAL INFORMATION As used in this annual report, unless the context otherwise requires, the “Company” and “ORIX” refer to ORIX Corporation, and “ORIX Group,”“Group,” “we,” “us,” “our” and similar terms refer to ORIX Corporation and its subsidiaries. In this annual report, “subsidiary” and “subsidiaries” refer to consolidated subsidiaries of ORIX, generally companies in which ORIX owns morethan 50% of the outstanding voting stock and exercises effective control over the companies’ operations; and “affiliate” and “affiliates” refer to all of ouraffiliates accounted for by the equity method, generally companies in which ORIX has the ability to exercise significant influence over their operationsby way of20-50%ownership of the outstanding voting stock or other means. The consolidated financial statements of ORIX have been prepared in accordance with accounting principles generally accepted in the UnitedStates (“U.S. GAAP”). For certain entities where we hold majority voting interests but noncontrolling shareholders have substantive participating rightsto decisions that occur as part of the ordinary course of the business, the equity method is applied. In addition, the consolidated financial statements alsoinclude variable interest entities (“VIEs”) of which the Company and its subsidiaries are primary beneficiaries. Unless otherwise stated or the contextotherwise requires, all amounts in such financial statements are expressed in Japanese yen. References in this annual report to “¥” or “yen” are to Japanese yen and references to “US$,” “$” or “dollars” are to United States dollars. Certain monetary amounts and percentage data included in this annual report have been subject to rounding adjustments for the convenience of thereader. Accordingly, figures shown as totals in tables may not be equal to the arithmetic sums of the figures that precede them. The Company’s fiscal year ends on March 31. The fiscal year ended March31, 2025 is referred to throughout this annual report as “fiscal 2025,”and other fiscal years are referred to in a corresponding manner. References to years not specified as being fiscal years are to calendar years. FORWARD-LOOKING STATEMENTS This annual report contains statements that constitute “forward-looking statements” within the meaning of Section21E of the Securities ExchangeAct of 1934 (the “Exchange Act”). When included in this annual report, the words “will,” “should,” “expects,” “intends,” “anticipates,” “estimates” andsimilar expressions, among others, identify forward looking statements. Such statements, which include, but are not limited to, statements contained in“Item 3. Key Information—Risk Factors,” “Item 5. Operating and Financial Review and Prospects” and “Item 11. Quantitative and QualitativeDisclosures About Market Risk,” inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially fromthose set forth in such statements. These forward-looking statements are made only as of the filing date of this annual report. The Company expresslydisclaims any obligation or undertaking to release any update or revision to any forward-looking statement contained herein to reflect any change in theCompany’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based. Item 1. Identity of Directors, Senior Management and Advisers Not applicable. Item