Orient Corporation (JP:8585) has released an update.
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Orient Corporation has revised its financial forecast for the fiscal year ending March 2025, citing challenges in its overseas subsidiaries in Thailand and Indonesia, as well as changes in business strategy affecting Orico Product Finance Co., Ltd. The company anticipates a decline in both ordinary profit and profit attributable to owners of the parent compared to previous forecasts, due to factors such as sluggish automobile markets and increased bad debt expenses. Despite these challenges, Orient Corporation is focusing on strategies to improve loan quality and business structure to enhance future earnings.
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