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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ORIX Corporation    8591   JP3200450009

ORIX CORPORATION

(8591)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 12/03
1618 JPY   +2.21%
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Maruti Suzuki teams with ORIX to launch 'Subscribe' for Hyderabad & Pune customers

10/20/2020 | 10:11am EST

New Delhi : Close on the heels of launching Maruti Suzuki Subscribe in Delhi-NCR and Bangalore, Maruti Suzuki Subscribe with white number plate (registered in the name of customer) now comes to Hyderabad and Pune.

In partnership with ORIX Auto Infrastructure Services India, a subsidiary of ORIX Corporation, Japan, the Company aims to launch car subscription programme for individual customers in these two cities.

Under this customer-centric initiative - Maruti Suzuki Subscribe allows a customer to use a brand new car without actually owning it by paying an all-inclusive monthly fee that covers maintenance and insurance for the complete tenure.

Maruti Suzuki Subscribe offers the customers a wide range of new cars - Swift, Dzire, Vitara Brezza and Ertiga from Maruti Suzuki ARENA and Baleno, Ciaz and XL6 from NEXA.

Announcing the Company's customer-centric approach, Mr. Shashank Srivastava, Executive Director (Marketing and Sales) Maruti Suzuki India Limited, said, 'Maruti Suzuki Subscribe is focussed to bring convenience to the individual customers. It comes with a bouquet of convenient features - flexible tenure, zero down payment, registration and insurance and also covers complete maintenance. We are overwhelmed with customer response in the first few weeks of pilot launch and received over 5,000 enquiries. Progressively, we aim to offer Maruti Suzuki Subscribe in 40-60 cities in the next 2-3 years.'

Maruti Suzuki Subscribe with private registration in the name of the subscriber comes with subscription tenure options 24, 36 and 48 months, as per customer's choice. Customers will pay a monthly subscription charge as low as starting Rs 15,479/- (including taxes) for Swift Lxi in Hyderabad and Rs 15,354/- (including taxes) in Pune for a tenure of 48 months.

The monthly subscription for the car includes:

Brand new car on subscription at an all-inclusive monthly fee

Vehicle to be registered in the name of customer

Road tax, registration charges and zero dep insurance coverage included

Complete maintenance (scheduled & unscheduled services/repair) included, 24*7 Roadside assistance and customer support

Explaining the partnership, Mr. Sandeep Gambhir, MD and CEO ORIX India said, 'Subscription is clearly emerging as a great new channel for customers to drive their preferred Maruti Suzuki vehicles. ORIX India and Maruti Suzuki have been working closely on this initiative over the last couple of months and we have witnessed an increased level of excitement and traction in the cities we have launched in the last 2-3 months. In line with Maruti Suzuki's vision to expand this offering to many more cities in India, we are very excited in bringing the Subscription product to customers in Hyderabad and Pune and we are confident that the flexibility and the convenience of the subscription offering will surely tick the right boxes in customers mind and would enable more and more customers to drive the best in class Maruti Suzuki vehicles.'

After the completion of subscription tenure, the customer can also opt to upgrade vehicle, extend, or buy the car at market price.

Issued by:

Corporate Communications,

Maruti Suzuki India Limited,

1, Nelson Mandela Road,

Vasant Kunj, New Delhi

Ph: 91-11- 4678 1000

Email: corp.comm@maruti.co.in

Twitter: @Maruti_Corp

Website: www.marutisuzuki.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MARUTI SUZUKI INDIA LTD 0.77% 7798.1 Delayed Quote.-2.20%
ORIX CORPORATION 2.21% 1618 End-of-day quote.-10.66%
SUZUKI MOTOR CORPORATION 0.88% 5505 End-of-day quote.20.54%
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Financials
Sales 2021 2 151 B 20 709 M 20 709 M
Net income 2021 205 B 1 976 M 1 976 M
Net Debt 2021 6 766 B 65 131 M 65 131 M
P/E ratio 2021 9,96x
Yield 2021 4,81%
Capitalization 1 987 B 19 140 M 19 129 M
EV / Sales 2021 4,07x
EV / Sales 2022 3,92x
Nbr of Employees 31 233
Free-Float 94,9%
Chart ORIX CORPORATION
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Technical analysis trends ORIX CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 1 659,09 JPY
Last Close Price 1 618,00 JPY
Spread / Highest target 36,0%
Spread / Average Target 2,54%
Spread / Lowest Target -21,5%
EPS Revisions
Managers
NameTitle
Makoto Inoue President, Group CEO & Director
Hitomaro Yano Executive Officer & General Manager-Finance
Eiko Tsujiyama Independent Outside Director
Yuichi Nishigori Director & Senior Managing Executive Officer
Nobuaki Usui Independent Outside Director
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