Profitable business presence within Japan's financial sector, despite harsh competition Record of maintaining strong capitalization relative to risk exposure, and strengthening risk management in response to external changes Increasing portfolio diversification and expansion of revenue sources Susceptibility to market volatility of business segments including real estate and investment and operations Increasing foreign currency funding, which we consider more sensitive to market deterioration than the local currency Potential increases in geographic and organizational complexities alongside business expansion The stable outlook reflects our view that Orix will maintain strong capitalization relative to risk assets in the next one to two years. We also expect the company to retain a solid business base, supported by diversified and stable earnings sources, and strong profitability
