ORIX Corp. (ORIX; A-/Stable/--) has established a relatively solid customer base in its core leasing business, consisting mainly of small and midsize enterprises (SMEs). In addition, the company excels in providing financial products and services. The company's existing corporate businesses include corporate lending, servicing, and investment banking. Recently, it has been focusing on real estate-related businesses, such as real estate finance. ORIX's operating performance has remained stable for the past few years, backed by its business diversification, abundant expertise, and sound risk management policies. ORIX's capital adequacy ratio decreased slightly in the six-month period ended Sept. 30, 2007, although it remains at a stable level. The company's debt-to-equity ratio improved somewhat to 5.6x as of Sept. 30, 2007, from 5.4x
