00:00Before, we just had limited access of the capital investment, like, you know, the debt from the bank, and also,
00:10you know, the stock.
00:11And that's simple.
00:13But now, you know, we have a private equity and alternative investment, and also, you know, the private credit.
00:22And that kind of diversification of, you know, the capital resources is quite important.
00:31Because, you know, each capital resources have a different risk appetite, as well as a different time horizon.
00:39And as we diversify our business, and we need to acquire many asset classes, and it's, you know, we can
00:48find out the best fit of the, you know, the capital investment.
00:52And asset class.
00:54Is that why you entered a relationship with Apollo for music catalog?
00:58Because you needed a long-term time horizon?
01:00Exactly.
01:01And the music capital is relatively low risk and low return, you know, the asset class.
01:09And that really fit to the, you know, the, like, you know, private credit.
01:15And, you know, needs a long time horizon as a capital.
01:21And as such, that's a great example.
01:24As such, we need a different type of asset class.
01:28Private credit, as I understand it, is relatively new to Japan.
01:31As you say, historically, Japanese companies, as I understand it, have relied on banks.
01:35Yeah.
01:35Is there resistance to it in Japanese culture?
01:39No, I don't think so.
01:40Because, you know, the three mega banks have, you know, the, of course, a lending capability, but not unlimited.
01:48Because they need to acquire much more deposit now.
01:52That's the reality.
01:53And then, you know, collaborate with private credit, you know, enable them to provide much more credit to the outside
02:02of the company.
02:03So, let's see.
02:03So, let's see.
Comments