The major rating factors for ORIX Corp. are as follows: A solid customer base, consisting mainly of Japanese small and midsize enterprises (SMEs). Stable performance, underpinned by its aggressive business diversification and conservative risk management policy. Improving, but still weak profitability and capitalization by international standards. In its core domestic leasing business, ORIX has established a relatively solid customer base, consisting mainly of small and midsize enterprises (SMEs), and has excellent expertise in providing financial products and services. Aided by these strengths, ORIX is aggressively diversifying its operations. In addition to existing corporate businesses, including corporate lending, operating leases, real estate-related services, life insurance, and investment banking, the company has entered some consumer businesses, including online/telephone banking, housing loans, and
