Downward revision to the performance of the Indonesian business and increase in outstanding receivables

「In Indonesia, transaction volume and operating revenue declined because transactions involving four-wheel vehicles and used two-wheel vehicles with persistently high overdue receivables were suspended as part of the business-structure reforms.」

「In Indonesia, transaction volume and operating revenue declined because transactions involving four-wheel vehicles and used two-wheel vehicles with persistently high overdue receivables were suspended as part of the business-structure reforms.」

「In Indonesia, transaction volume and operating revenue declined because the company discontinued its four-wheel vehicle business, where uncollected receivables remained high, as part of its business restructuring.」

「In Indonesia, two-wheel vehicle transaction volume remained firm, but transaction volume and operating revenue declined because the company discontinued its four-wheel vehicle business, where uncollected receivables remained high, as part of its business restructuring.」

「In Indonesia, the company sought to expand its share among two-wheel vehicle dealers, but transaction volume declined due to the prolonged weakness of the four-wheel vehicle market and tighter credit standards. Operating revenue increased as operating receivables accumulated.」

「In Indonesia, auto loan transaction volume declined as the company tightened credit standards and strengthened risk controls, but transaction volume and operating revenue increased as it expanded its two-wheel vehicle dealer network.」

「In Indonesia, the company strengthened its sales efforts targeting used-vehicle dealers and two-wheel vehicle dealers in response to market recovery, resulting in increases in transaction volume and operating revenue.」

「In Indonesia, four-wheel vehicle transaction volume declined due to tighter credit screening for new vehicles to curb the increase in uncollected receivables. However, transaction volume and operating revenue increased as operating receivables accumulated in the core used four-wheel vehicle business and the two-wheel vehicle market recovered.」

「In Indonesia, Cambodia and the Philippines, transaction volume and operating revenue increased as economic activity normalized further and the company focused on expanding sales areas and developing dealer networks.」

「In Vietnam and Indonesia, transaction volume increased as the two-wheel and four-wheel vehicle markets recovered, supported by stronger sales operations.」

「In Vietnam, Indonesia, Cambodia and the Philippines, economic activity moved toward normalization under policies for living with COVID-19. As the impact of semiconductor shortages also gradually eased, the four-wheel and two-wheel vehicle markets recovered, and the companies worked diligently to implement various initiatives and develop their dealer networks.」

「In Vietnam and Indonesia, although the two-wheel and four-wheel vehicle markets were partly affected by semiconductor shortages, economic activity was revitalized under the respective governments' policies for living with COVID-19. Transaction volume and operating revenue increased as the companies focused on implementing various initiatives and developing their dealer networks.」

「In Vietnam and Indonesia, motorcycle and automobile markets gradually recovered as COVID-19 restrictions were eased and economic support measures were implemented. The company pursued various initiatives and developed its dealer network, increasing transaction volume and operating revenue.」

「In Indonesia, auto loan and two-wheel vehicle transaction volume increased due to market recovery accompanying a decline in COVID-19 cases and external factors such as the government's economic stimulus measures, as well as the success of various initiatives.」

「In Indonesia, although restrictions on movement were tightened, auto loan transaction volume began to recover, supported by the effects of tax cuts on new vehicles implemented as part of the government's economic stimulus measures, among other factors. Transaction volume in the third-quarter accounting period exceeded the level of the same period of the previous year. However, transaction volume and operating revenue declined on a cumulative basis.」

「In Indonesia, the business was significantly affected by the spread of COVID-19, and tighter restrictions on socioeconomic activity led to a substantial decline in auto loan transaction volume and a decline in operating revenue.」

「In Indonesia, the business was significantly affected by the spread of COVID-19. Restrictions on socioeconomic activity remain in place, resulting in a substantial decline in transaction volume for the core auto loan business and a decline in operating revenue.」

「In Indonesia and the Philippines, the businesses were significantly affected by COVID-19, and repeated tightening of restrictions on movement caused market conditions to deteriorate, resulting in declines in transaction volume and operating revenue.」

「In Indonesia, infections remain widespread, and the tightening of social restrictions in response to infection levels is expected to delay the recovery of economic activity. Under these conditions, transaction volume, centered on the core four-wheel vehicle loan business, remained sluggish, resulting in declines in transaction volume and operating revenue.」

「In Indonesia, the core automobile loan business declined due to the substantial impact of COVID-19, including curtailed operating activities associated with extensive social restrictions and weak automobile sales. Transaction volume and operating revenue also declined due to tighter underwriting standards implemented as part of credit risk management.」

「Although selling, general and administrative expenses declined in line with lower transaction volume and the curtailment of operating activities, consolidated operating expenses increased to ¥36,183 million, up 6.4% year on year, due to higher bad-debt-related expenses in Indonesia and higher financial expenses resulting from the sharp depreciation of the rupiah.」

「In Indonesia, transaction volume declined due to a lower approval rate resulting from the review of underwriting standards and the impact of weak sales of new automobiles. However, operating revenue increased as the balance of operating receivables expanded.」

「In Indonesia, transaction volume declined due to a review of underwriting standards that emphasized the use of external credit information agencies and the accumulation of high-quality receivables, as well as weak sales of new automobiles in the country. However, operating revenue increased as the balance of operating receivables expanded.」

「In Indonesia, the use of an external credit information agency began in the first quarter, and underwriting standards were reviewed to build a portfolio of high-quality receivables. The impact of weak sales of new automobiles in the country also contributed to lower transaction volume, but operating revenue increased as the balance of operating receivables expanded.」

「In Indonesia, the use of an external credit information agency prompted a review of underwriting standards to build a portfolio of high-quality receivables. As a result, the approval rate for automobile loans declined and transaction volume decreased, but operating revenue increased as operating receivables accumulated.」

「In Indonesia, motorcycle and automobile loan transactions performed well and transaction volume increased through various measures.」

「In Indonesia, motorcycle and automobile transactions performed well and transaction volume increased through various promotions.」

「In Indonesia, transaction volume expanded substantially as a result of MPMF becoming a consolidated subsidiary, while the motorcycle and automobile businesses also performed well following the implementation of various promotions, resulting in higher transaction volume.」

「In addition, PT Mitra Pinasthika Mustika Finance (MPMF), an Indonesian company that became a consolidated subsidiary after additional shares were acquired in May of the previous year, saw steady transaction volume in both automobiles and motorcycles, resulting in higher transaction volume.」

「In May of this year, PT Mitra Pinasthika Mustika Finance (MPMF), an Indonesian company that became our consolidated subsidiary following an additional acquisition of shares, performed well, particularly in four-wheel vehicles.」

「Indonesia’s finance company PT Mitra Pinasthika Mustika Finance performed well, mainly in motorcycle and automobile loans.」

「PT Mitra Pinasthika Mustika Finance, an Indonesian finance company accounted for under the equity method, benefited from an economic recovery trend and strengthened cooperation with its group company engaged in motorcycle and automobile sales, resulting in higher transaction volume.」

「PT Mitra Pinasthika Mustika Finance, an Indonesian finance company accounted for under the equity method, saw signs that the economy had bottomed out and strengthened cooperation with its group company engaged in motorcycle and automobile sales, resulting in higher transaction volume.」

「Meanwhile, PT Mitra Pinasthika Mustika Finance, an Indonesian finance company accounted for under the equity method, saw signs that the economy had bottomed out, but personal consumption had not yet recovered fully, resulting in lower transaction volume in its motorcycle and automobile vehicle-financing business.」

「PT Mitra Pinasthika Mustika Finance, an Indonesian finance company accounted for under the equity method, was affected by the weak macroeconomy, resulting in lower transaction volume in its motorcycle and automobile vehicle-financing business. Overdue receivables also increased, leading to higher bad-debt-related expenses.」