Prudent management and timely investment amid persistently high asset prices and recession risks
First written in FY2020-Q2. 1 of 3 entries say "Advanced", first in FY2021-Q2. Latest entry: FY2021.
The whole theme swung hardest in 2020: 1 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「Going forward, vaccination programs and economic policies are expected to enable both the prevention of COVID-19 transmission and the continuation of economic activity, but it remains difficult to predict when the situation will be brought under control.」
The company continues to show a cautious approach to assessing the external environment amid COVID-19 and the uncertainty over when the situation will be brought under control. - FY2021-Q2AdvancedAnnual report
「As we believe the environment surrounding ORIX is beginning to stabilize, from the second half of the fiscal year ending March 2021 onward we will actively consider investments in projects expected to generate stable earnings and projects expected to contribute to earnings in the future.」
While maintaining a prudent stance, the company specified a policy of actively considering investments in projects expected to generate stable earnings and projects expected to contribute to future earnings from the second half of the fiscal year ending March 2021 onward. - FY2020-Q2First statedAnnual report
「In light of current conditions, with asset prices remaining elevated and the risks of a future economic downturn and regional and political risks increasing, ORIX will maintain a prudent management stance. However, to continue growing through investments that do not miss opportunities, it reviewed its target management metrics during the six months ended 30 September 2019.」
For the first time, the management policy explicitly set out both a prudent stance reflecting asset prices and external risks and a commitment to continue growing without missing investment opportunities.