Contributions to Enhancing Access to Finance

Honest is the only Indonesian fintech company with a credit card business license. The company has implemented a smartphone-based application scheme and eKYC, an online identity verification service. It is also the first company in Indonesia to issue virtual cards and numberless cards. The company is an innovator in the field of digital payments and financial services in Indonesia.
The credit card penetration rate in Indonesia by 2022 currently stands at around 5%. Through our investment in Honest, we will contribute to the expansion of credit card usage in Indonesia and help enhance access to finance.
In addition, we will pursue synergies between PT Orico Balimor Finance, our consolidated subsidiary in Indonesia, and Honest in the development of our business in Indonesia to provide safe, secure, and convenient financial services to Indonesian customers and contribute to the development of a sustainable community. PT Orico Balimor Finance and Honest will pursue synergies in their business development in Indonesia.
For more details, please have a look at following links to News Release and the Honest's Web site.

Our group is vigorously expanding into the fast-growing Asian market and striving to enhance access to finance.
We intend to support the realization of lifestyles of abundance for local communities and contribute to the advancement of society by providing financial services that meet the needs of our customers in a sustainable manner, leveraging the know-how we have cultivated in Japan.
Starting with our presence in Thailand in 2015, we established an auto loan business company in the Philippines in 2019, and in 2021 we acquired an auto loan business company in Indonesia, creating a three-country business network in Asia. We will continue to take on challenges to provide financial services to more people.

Card payment among businesses in Japan is not yet in full swing. One of the reasons for this is the limited availability of credit card payment services, such as when a buyer wishes to pay by credit card, but the seller does not accept credit card payment. ”OBS", Orico Business Payment for SMEs, is a service that enables card payment even when the seller company does not handle card payment by acting as an intermediary for inter-business settlement as a payment agent.

With the introduction of "OBS", we will help small and medium-sized enterprises solve their management issues, such as improving operational efficiency through cashless transactions, addressing personnel shortages, and improving cash flow.

In promoting DX, we believe it is important to develop human resources who are passionate about utilizing digital technology to continue providing value to our customers, so we have developed our own DX human resource development program. We have set a goal for all employees to be trained as DX promoters with basic digital technology knowledge and skills, and by March 2023, the first year of the current medium-term management plan, more than 3,200 employees, almost the entire workforce, had obtained certification.
In addition, we have launched "Orico DX Place", an in-house proposal system to encourage all members of the group to develop new services and commercial products utilizing digital technology based on their own awareness of the problems they face.
After internal voting, the ideas proposed in the "Orico DX Place" are adopted as plans for new businesses and operational improvements, contributing to enhancing access to finance from the perspective of our business partners and customers.
We will continue to leverage digital technology to create new businesses and improve existing businesses to further contribute to the enhancement of access to finance.