Sato

Sato from TV Asahi inquired about the sudden decision to hold the press conference without prior planning, asking for the specific reasons behind this last-minute conference setting.

Answer

Koji Sato, Outgoing CEO, explained that the conference was held for timely disclosure immediately following the Board of Directors' resolution on the executive changes. He stated that the company wanted to provide a comprehensive explanation and convey the background thoughts beyond just a press release, opting for an open-style communication setting via Toyota Times.

Sato from TV Asahi inquired about the reason behind Toyota's sudden decision to hold a press conference at the last minute regarding the executive changes.

Answer

Koji Sato, Outgoing CEO, explained that the conference was held for timely disclosure immediately after the Board of Directors meeting resolved the matter. He emphasized the desire to convey the background and thoughts behind the decision beyond a simple press release, fostering open communication through the Toyota Times setting.

Asked about the risks associated with ORIX's U.S. business, the potential impact of U.S. tariffs and changes in renewable energy incentives on strategy and assets, and the company's overall view on its U.S. exposure.

Answer

The company acknowledged a challenging environment for its U.S. operations, particularly in real estate, leading to a conservative stance and some impairments. They are shifting focus to asset management and counter-cyclical businesses like Hilco Global. The direct impact from U.S. renewable energy policy changes is considered limited, and the global renewable energy strategy remains flexible, evidenced by the Greenco and AM Green transactions.

Sato from JPMorgan Securities sought confirmation on how special factors, specifically the Macquarie acquisition costs and phishing compensation, were allocated across business segments. He also asked if the JPY 670 billion ETF outflow in Investment Management had stabilized by June.

Answer

CFO Hiroyuki Moriuchi clarified that the Macquarie and phishing-related costs were booked in the corporate/headquarters account, not within a specific business segment. He also confirmed that the ETF outflow situation had settled by the end of June, attributing the large outflow to the specific activities of certain investors.