Orient Corporation
8585・Prime Market・Other Financing Business
Business
Orient Corporation (Orico), founded in 1954, is a comprehensive credit sales company listed on the Prime Market of the Tokyo Stock Exchange. As an equity-method affiliate of Mizuho Financial Group, it centers its domestic operations on four core businesses: Settlement & Guarantee Business (Rent Payment Guarantee / Accounts Receivable Payment Guarantee), Card & Loan Business (credit cards and personal loans), Individual Installment Business (Auto Loan / Shopping Credit), and Bank Guarantee Business (personal loan guarantees for affiliated financial institutions), while also operating an Auto Loan business in Thailand, the Philippines, and Indonesia. The company has 18 consolidated subsidiaries and 4 equity-method affiliates, with total operating revenue of ¥247,631 million for FY2026 (ending March 2026). Its main customers are individuals, SMEs, and financial institutions, with credit assessment, collection, and operational capabilities serving as its source of competitive advantage.
Business Model
Orico conducts credit investigations of individuals and corporations through its network of affiliated merchants and partner financial institutions, and collects fees, interest, and guarantee fees in exchange for advance payments, guarantees, and card issuance. Through the securitization of installment receivables and other assets (¥75,689 million in FY2026 (ending March 2026)), the company moves assets off its balance sheet, expanding its business scale while maintaining capital efficiency. In the Bank Guarantee Business, the company has built up a guarantee balance of ¥1,549,769 million, securing stable guarantee fee income.
Company Strengths
Mizuho Bankとの業務提携（2004年締結）を活用し、Accounts Receivable Payment Guaranteeでは新規提携社数が順調に拡大。Bank Guarantee Businessでは証書貸付取扱高の拡大を背景に保証残高が¥1,549,769 millionに達し、地域金融機関との提携深化による安定収益基盤を構築している。
FY2026 (ending March 2026)の割賦売掛金等流動化収益は¥75,689 millionに上り、流動化を含む営業資産残高は¥6,416,329 millionに達する。オンバランス残高を抑制しながら事業規模を維持する構造により、限られた自己資本で大規模な信販事業を運営する財務効率を実現している。
格付投資情報センター（R&I）から長期債A+・CP a-1、日本格付研究所（JCR）から長期債A+・CP J-1の格付を取得。複数のシンジケートローン（都市銀行・地方銀行・系統金融機関との合計7本）を無担保で組成できる調達力を背景に、多様な資金調達手段による安定的な流動性管理体制を維持している。
ENVALITH's Perspective
Performance Trend
Operating revenue bottomed out at ¥229,806 million in FY2022 (ended March 2022) and has since recovered, reaching ¥247,631 million in FY2026 (ending March 2026) (up 1.0% year on year), marking five consecutive periods of revenue growth. Operating profit continued to decline from ¥28,994 million in FY2022 (ended March 2022) to ¥12,344 million in FY2025 (ended March 2025), but reversed course and improved to ¥14,444 million in FY2026 (ending March 2026). As an external factor, rising market interest rates pushed up interest expenses (¥24,068 million), increasing costs, while a decrease in credit-loss-related expenses in the Overseas Business and restraint in selling, general and administrative expenses (down ¥3,961 million year on year) contributed to the improvement in profit. Net profit declined 7.6% year on year to ¥12,889 million due to the drop-off of extraordinary gains (from ¥10,139 million in the previous period to ¥105 million in the current period). The equity ratio improved to 8.8% (from 8.3% in the previous period), and net assets per share rose to ¥1,463.12.
Growth Strategy
Completed the first year of the five-year medium-term management plan aiming to "establish a financial model unique to Orico"
As the first year of the medium-term plan, the company undertook business structure reform and redirected the resulting management resources to growth areas such as Settlement & Guarantee and Bank Guarantee. While reducing selling, general and administrative expenses by ¥3,961 million year on year, the company expanded business revenue in Settlement & Guarantee (up 3.9% year on year) and Bank Guarantee (up 7.4% year on year).
The company is thoroughly leveraging AI and digital technologies, including generative AI, to drive fundamental review of business processes and productivity improvement. Human resources freed up through digitalization are being strategically reallocated to growth areas, advancing the shift toward higher value-added operations. Investment in the acquisition of intangible fixed assets (software) continued (¥17,173 million).
Strengthened collaboration with Mizuho Bank has steadily expanded the number of new partner companies for Accounts Receivable Payment Guarantee. Demand for Rent Payment Guarantee remains solid against a backdrop of increasing single-person households and rising preference for rental housing, with improved convenience through electronic applications and strengthened sales capability in the greater Tokyo area also contributing. As a result, Settlement & Guarantee business revenue reached ¥26,007 million (up 3.9% year on year).
The three overseas subsidiaries in Thailand, the Philippines, and Indonesia implemented stricter credit screening and strengthened collection systems. While credit-related expenses are on a declining trend, business revenue decreased to ¥12,495 million (down 16.3% year on year) due to lower transaction volume, and the segment loss of ¥2,192 million continued. Efforts to thoroughly strengthen governance for stable growth are ongoing.
The company worked to provide financial products and services tailored to regional needs, and the guarantee balance increased from the end of the previous fiscal year, supported by steady growth in transaction volume for Personal Loan Guarantee (Certificate Loan). Bank Guarantee Business revenue reached ¥37,610 million (up 7.4% year on year), and the guarantee balance for partner financial institutions expanded to ¥2,344,085 million.
Last updated: July 19, 2026