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    SEC Form 6-K filed by ORIX Corporation

    3/11/26 6:04:59 AM ET
    $IX
    Diversified Financial Services
    Finance
    Get the next $IX alert in real time by email
    6-K 1 d104152d6k.htm FORM 6-K Form 6-K
    Table of Contents
     
     

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, D.C. 20549

     

     

    FORM 6-K

     

     

    REPORT OF FOREIGN PRIVATE ISSUER

    PURSUANT TO RULE 13a-16 OR 15d-16 OF

    THE SECURITIES EXCHANGE ACT OF 1934

    For the month of March 2026

    Commission File Number: 001-14856

     

     

    ORIX Corporation

    (Translation of Registrant’s Name into English)

     

     

    World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-ku,

    Tokyo, JAPAN

    (Address of Principal Executive Offices)

     

     

    (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

    Form 20-F ☒  Form 40-F ☐

     

     
     


    Table of Contents

    Table of Contents

    Material Contained in this Report

     

    1.

       “Notice regarding Transfer of equity interest: IX PUSG Holdings, LLC (U.S. PE Investment: Peak Utility)”   

    2.

      

    “Filing of Extraordinary Report”

      


    Table of Contents

    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: March 11, 2026

      By  

    /s/ Hidetake Takahashi

       

    Hidetake Takahashi

       

    Member of the Board of Directors

    Representative Executive Officer

    President and Chief Executive Officer

    Responsible for Digital Innovation Unit

    Responsible for Corporate Strategy and Management Unit

    ORIX Corporation


    Table of Contents

    LOGO

    Notice regarding Transfer of equity interest (change in subsidiary): IX PUSG Holdings, LLC (U.S. PE Investment: Peak Utility)

    TOKYO, Japan – March 11, 2026 – ORIX Corporation (”ORIX”) announced today that one of its affiliates has entered into an equity interest transfer agreement on March 10, 2026 U.S. Time with a special purpose company (“The SPC”) affiliated with Greenbelt Capital Partners (”Greenbelt”) to transfer all of the equity interest in IX PUSG Holdings, LLC (“IX PUSG Holdings”) to Greenbelt.

    1. Purpose of transfer of all equity interest

    IX PUSG Holdings is the holding company for Peak Utility Services Group, Inc. (“Peak”), in which our company invested*1 in 2018 through a fund managed by ORIX Capital Partners (“OCP”), the operationally-focused private equity team of our wholly owned subsidiary, ORIX Corporation USA. Peak was founded in 2002 and provides utility infrastructure services in the United States.

    Since our investment, OCP has made significant contributions to Peak, including add-on acquisitions, organic growth initiatives, strengthening governance and operational improvements. Peak continues to deliver stable and strong performance, with revenue reaching a record high in the previous fiscal year.

    As Peak has matured into a strong platform, OCP has determined that a new partnership is the logical next step for Peak to continue to grow into the future. Greenbelt, an Austin, Texas based private equity firm, which has extensive investment experience in energy and infrastructure, was identified as the optimal partner.

     

    *1

    ORIX Capital Partners Acquires Peak Utility Services Group (June 29, 2018)

    2. Summary of Transfer of All Equity interest

     

    (1)

      

    Method

      

    Transfer of (issued) equity interest owned by the specific subsidiary of ORIX

    (2)

      

    Shareholding ratio before and after

      

    Before the transfer

      

    IX Capital Peak Holdings, LLC 100%

      

    After the transfer

      

    The SPC 100%


    Table of Contents

    3. Overview of Specific Subsidiary to be Transferred

     

    (1)

      

    Name

      

    IX PUSG Holdings, LLC

    (2)

      

    Location

      

    c/o ORIX Capital Partners, 2001 Ross Ave Suite 1900, Dallas, TX 75201

    (3)

      

    Name and title of representative

      

    Christopher Suan, President of ORIX Capital Partners

    (4)

      

    Description of business

      

    Holding company

    (5)

      

    Paid-in capital

      

    USD 312.7 million*2

    (6)

      

    Date of

    establishment

      

    April 9, 2018

    (7)

      

    Major shareholders and shareholding ratio

      

    IX Capital Peak Holdings, LLC 100%

    (8)

     

     

      

    Relationship between the listed company and aforementioned company

     

      

    Capital relationship

     

      

    IX Capital Peak Holdings, LLC, a specific subsidiary of ORIX, owns 100% of the membership interest.

     

      

    Personnel relationship

     

      

    Not applicable

     

      

    Business relationship

     

      

    Not applicable

     

     

    (9)

      

     

    Consolidated subsidiary results and financial position for the past three years*3

    Fiscal year

       FY22.12    FY23.12    FY24.12
        

    Net assets

       USD55.0 million     USD19.9 million     USD35.3 million
        

    Total assets        

       USD336.9 million     USD284.2 million     USD255.0 million
        

    Revenue

       USD298.8 million     USD330.3 million     USD351.3 million
        

    Net Loss

       USD-21.3 million     USD-35.2 million     USD-48.0 million

     

    *2

    as of Dec-25, Unaudited

    *3

    IX PUSG Holdings, LLC’s sole wholly-owned subsidiary Peak Utility Service Group, Inc. Audited Consolidated Financial Statement

    4. Overview of the Company to Which the equity interests are Being Transferred*4

     

    (1)

      

    Name

      

    Seahawk Buyer, LLC

    (2)

      

    Location

      

    c/o Greenbelt Capital Partners, 301 Congress Avenue, Suite 2050, Austin, TX, 78701

    (3)

       Name and title of representative   

    Gabriel Allen, Chief Financial Officer

    (4)

       Description of Business   

    Holding company

    (5)

       Date of establishment   

    February 18, 2026

    (6)

       Major shareholders and shareholding ratio   

    100% owned by funds and accounts managed by Greenbelt

    (7)

       Relationship between the listed company and the aforementioned company   

    Capital relationship

      

    Not applicable

      

    Personnel relationship

      

    Not applicable

      

    Business relationship

      

    Not applicable

       Related party status    The SPC and its related parties and affiliates are not related parties of ORIX.

     

    *4

    Due to the wishes of the transferee, we will refrain from disclosing the “Paid-in-capital” “Net assets” and “Total assets.”


    Table of Contents

    5. Number of equity interest to be Transferred and Status of equity interest Held Before and After Transfer*5

     

    (1)

      

    Number of equity interest held before the transfer

      

    100% Membership Percentage

    (2)

      

    Number of equity interest to be transferred

      

    100% Membership Percentage

    (3)

      

    Number of equity interest held after the transfer

      

    0.00% Membership Percentage

    (Percentage of voting rights: 0%)

     

    *5

    Due to the wishes of the transferee, we will refrain from disclosing the “Transfer price.”

    6. Schedule of the transaction

     

    (1)

      

    Date of share transfer agreement for the transaction

      

    March 10, 2026 U.S. Time

    (2)

      

    Effective date of the share transfer

      

    April 2026 (Tentative)

    7. Outlook

    This transaction is subject to customary conditions precedent, including obtaining the necessary regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act.

    The impact of this transaction on ORIX’s consolidated results for this and next fiscal year is expected to be immaterial.

    Contact Information:

    Investor Relations Department

    ORIX Corporation

    Tel: +81-3-3435-3121

    About ORIX Group:

    ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 36,000 people. ORIX Group unites globally around its Purpose: “Finding Paths. Making Impact.” combining diverse expertise and innovative thinking to help our world develop in a sustainable way.

    For more details, please visit our website: https://www.orix.co.jp/grp/en/

    (As of September 30, 2025)


    Table of Contents

    Caution Concerning Forward Looking Statements:

    These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2024 – March 31, 2025” furnished on Form 6-K.


    Table of Contents

    Filing of Extraordinary Report

    TOKYO, Japan — March 10, 2026 (U.S. time) — ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, announced today that it filed an extraordinary report with the Director-General of the Kanto Financial Bureau in Japan concerning the potential sale of IX PUSG Holdings, LLC (“Target”), the holding company for Peak Utility Services Group, Inc. (“Peak”). Peak is a portfolio company of ORIX Capital Partners (“OCP”), the operationally-focused private equity team of our wholly-owned subsidiary, ORIX Corporation USA (“OCU”).

     

    1.

    Reason for Filing

    ORIX Corporation submits this extraordinary report as an affiliate has entered into a purchase agreement with Seahawk Buyer, LLC (“Buyer”), an entity affiliated with Greenbelt Capital Partners, to sell Target to Buyer. This transaction is subject to customary conditions precedent, including obtaining the necessary regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act.

    As this transaction will result in a change in a Specified Subsidiary, this extraordinary report is submitted pursuant to Article 24-5, paragraph (4) of the Financial Instruments and Exchange Act and Article 19, paragraph (2), item (3) of the Cabinet Office Ordinance on Disclosure of Corporate Information.

     

    2.

    Description of Report

     

      (1)

    Name, location, name and job title of representative, capital, and business description of the Specified Subsidiary

     

    Name

      

    IX PUSG Holdings, LLC

    Location

      

    c/o ORIX Capital Partners, 2001 Ross Ave Suite 1900, Dallas, TX 75201

    Name of representative

      

    Christopher Suan, President of ORIX Capital Partners

    Capital

      

    USD 312.7 million (as of December 31, 2025)*

    Business description

      

    Holding company for Peak Utility Services Group, Inc., a provider of utility infrastructure services

     

      *

    Unaudited

     

      (2)

    The number of voting rights held in the Specified Subsidiary before and after the transfer, and the percentage of the total voting rights of the Specified Subsidiary’s shareholders, etc.

     

      a.

    Number of voting rights of the Specified Subsidiary held by the Company and its subsidiaries

     

    Before the transfer

      

    - units

    After the transfer

      

    - units

     

      b.

    Ownership percentage of voting rights of the Specified Subsidiary in the total number of voting rights held by all the shareholders of the Specified Subsidiary

     

    Before the transfer

      

    100.00%

    After the transfer

      

    0.00%

     

      (3)

    Reason and date of transfer

     

    Reason

      

    On March 10, 2026 (U.S. time), an affiliate of ORIX Corporation has entered into a purchase agreement with Buyer, an entity affiliated with Greenbelt Capital Partners, to sell Target, which is considered a Specified Subsidiary of ORIX Corporation, to Buyer. Upon the closing of this transaction, Target will cease to be a subsidiary of ORIX Corporation, resulting in a change in a Specified Subsidiary.

    Date

      

    April, 2026 (Tentative)

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