ORIX Corp Completes Share Repurchase, Cancels Shares
Ticker: ORXCF · Form: 6-K · Filed: Dec 11, 2024 · CIK: 1070304
| Field | Detail |
|---|---|
| Company | Orix Corp (ORXCF) |
| Form Type | 6-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-repurchase, share-cancellation, capital-management
TL;DR
ORIX finished buying back stock and is now canceling it. Good sign?
AI Summary
ORIX Corporation announced the completion of its share repurchase program on December 11, 2024. The company also announced the cancellation of its own shares, effective December 11, 2024. These actions are part of ORIX's ongoing capital management strategies.
Why It Matters
Completion of share repurchases and subsequent cancellation of shares can signal management's confidence in the company's valuation and potentially lead to an increase in earnings per share.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of completed share repurchase and cancellation, with no immediate negative financial implications indicated.
Key Players & Entities
- ORIX Corporation (company) — Registrant
- December 11, 2024 (date) — Completion date of share repurchase and cancellation
FAQ
What was the total number of shares repurchased?
The filing does not specify the total number of shares repurchased, only that the program has been completed.
What was the total amount spent on the share repurchase program?
The filing does not disclose the total amount spent on the share repurchase program.
When was the share repurchase program initially authorized?
The filing does not provide the authorization date for the share repurchase program.
What is the reason for the cancellation of own shares?
The filing states the cancellation is a result of the share repurchase program, but does not provide further specific reasons.
Does this filing indicate any new financial guidance or outlook from ORIX Corporation?
No, this filing is a report of completed share repurchase and cancellation and does not contain new financial guidance or outlook.
Filing Stats: 1,103 words · 4 min read · ~4 pages · Grade level 12.9 · Accepted 2024-12-11 06:02:59
Filing Documents
- d911344d6k.htm (6-K) — 27KB
- g911344g00a01.jpg (GRAPHIC) — 13KB
- 0001193125-24-274813.txt ( ) — 46KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ORIX Corporation Date: December 11, 2024 By /s/ Yasuaki Mikami Yasuaki Mikami Member of the Board of Directors Senior Managing Executive Officer Responsible for Corporate Function Unit Responsible for Work Style Reform Project ORIX Corporation Table of Contents Notice regarding Completion of Share Repurchase TOKYO, Japan-December 11, 2024-ORIX Corporation (ORIX) hereby announces that the share repurchase resolved at its Board of Directors meeting held on May 8, 2024 pursuant to the provision of its Articles of Incorporation, which is in accordance with Article 459, Paragraph 1 of the Companies Act, has been completed as follows. Progress of the repurchase in December 2024 1. Class of shares repurchased Common shares 2. Total number of shares repurchased 755,000 shares 3. Total purchase price of shares repurchased JPY 2,581,999,200 4. Repurchase period December 1, 2024 - December 10, 2024 5. Method of share repurchase Market purchases based on a discretionary dealing contract regarding repurchase of own shares Cumulative repurchases through December 10, 2024 1. Total number of shares repurchased 14,649,500 shares 2. Total purchase price of shares repurchased JPY 49,999,766,050 (Reference) Details of the resolution with respect to share repurchase reached at the Board of Directors meeting held on May 8, 2024 1. Class of shares to be repurchased Common shares 2. Total number of shares Up to 40,000,000 shares (approx. 3.3% of the total outstanding shares (excluding treasury shares)) 3. Total purchase price of shares to be repurchased Up to 50 billion yen 4. Repurchase period From May 15, 2024 to March 31, 2025 5. Method of share repurchase Market purchases based on a discretionary dealing con