TOKYO, Japan - January 9, 2014 - ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, today announced that in addition to increasing the basic salary of junior employees by an average of approximately 3% (starting salary for Associate Grade employees will increase by approximately 5%, 10,000 yen a month), it will also increase summer bonuses for all employees by an average of approximately 10% next year (Fiscal Year Ending March 2015).
At a time when world financial markets are experiencing great change, ORIX has responded by continuing to expand its business operations based on its strategy of "Accelerating Finance + Services". The first half consolidated financial results showed that net income increased year on year for the same period for four consecutive years.
Also this year ORIX implemented reform of its personnel system and increased the bonus of junior employees and officers by introducing pay schemes more reflective of role and results achieved. This time, ORIX has implemented an increase in basic salary and bonus so that in addition to increasing motivation by rewarding the everyday contributions of our employees, we can contribute to the healthy circulation of the Japanese economy by stimulating individual consumption in line with an increase in yearly earnings.
1. Basic Salary
ORIX Group major domestic companies
Associate Grade: Associate Level 3 to 1 (1st Year to Assistant Manager Class)
Staff Grade: Staff Level 4 and 3
An average salary increase of approximately 3%
Starting salary will increase as indicated below.
(Starting salary for Associate Grade employees will increase by approximately
5%, 10,000 yen a month).
Associate Grade (Nationwide)
Associate Grade (Regional)
Start Period: From April 2014
2. Bonus Target Employees: All employees of ORIX Group major domestic companies
Content: An average bonus increase of approximately 10%
Start Period: June 2014
ORIX Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 35 countries and regions outside of Japan, ORIX's activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, banking and loan servicing. For more details, please visit our website: http://www.orix.co.jp/grp/en/
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 to 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 "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2012 - March 31, 2013."