Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — IBJ Leasing — H1 FY2016 Earnings Presentation
26 slides from Mizuho Leasing's earnings presentation, Nov 10, 2016
Slide 1: FY2016 First-Half Financial Results Presentation Materials
Presentation Materials FY2016 First-Half Financial Results Presentation Materials November 10, 2016 IBJ Leasing Co., Ltd. (Securities Code: 8425) Inquiries:Corporate Communication Division Tel:+81-3-5253-6540 Fax:+81-3-5253-6539
Slide 2: Contents
Contents Ⅰ. Business Performance Overview ・・・ ３ Ⅱ. Financial Results Overview ・・・１１ Ⅲ. Business and Dividend Forecasts ・・・１５ Ⅳ. Appendix ・・・１７ This document contains forecasts and other forward-looking statements that are based on information available at the time of preparation of this document and
Slide 3: FY2016 First-Half Results Highlights
FY2016 First-Half Results Highlights Implementation of our medium-term plan’s business strategies led to y-o-y growth in contract execution volume, gross profit before write-offs/funding costs, and net income attributable to owners of the parent for a second straight year Net income attributable
Slide 4: Ⅰ. Business Performance Overview
Ⅰ． Business Performance Overview 3
Slide 5: Progress of the Fourth Mid-term Management Plan
Progress of the Fourth Mid-term Management Plan (Year 2014-2016) Theme Progress Operating Assets “Challenging for renewed growth” (¥bn) 1,581.0 1,572.7 1,600 1,500.0 Business Strategies 1,432.3 (target) 1,343.0 Enhancement of core Achieved ahead businesses of schedule Improvement of special finance
Slide 6: Overall Situation
Overall Situation Contract execution volume increased for both leasing and installment sales and financing, growing 9% compared with the same period a year earlier Operating assets maintained the level similar to the end of the previous fiscal year, as the increase in contract execution volume o
Slide 7: Leasing and Installment Sales
Leasing and Installment Sales Contract execution volume continued to rise, increasing 8% y-o-y - Transport: the first project handled by an aircraft operating lease specialized subsidiary contributed - Real estate lease: bridge financing targeting REITs, etc. increased Contract Execution Volume by
Slide 8: Financing
Financing Both contract execution volume and operating assets grew as we focused on capturing diverse customer needs - Real Estate Finance: REIT-related finance increased - Specialized Finance, etc.: we continued to focus on finance associated with capital policies of businesses - Aircraft Finance
Slide 9: Developments in Focus Areas (1)
Developments in Focus Areas (1) [Building business with domestic demand-related industries] Promote comprehensive proposal-based marketing that meets diverse customer needs and capture capital investment projects for distribution and retail businesses Land and building leasing increased through
Slide 10: Developments in Focus Areas (2)
Developments in Focus Areas (2) Operating assets of the aircraft-related business continued to grow through expansion of the existing aircraft-backed collateral loans (finance) and the newly started business based on aircraft ownership (leasing) *1 IBJ Air Leasing Limited implemented *2 operatin
Slide 11: Overseas Business
Overseas Business Operating assets increased y-o-y thanks to the growth in the aircraft business and the full-fledged entry into automobile leasing by the subsidiary in Thailand Overseas situation continue to be uncertain but we plan to strengthen the overseas business in the medium-term - We wi
Slide 12: Ⅱ. Financial Results Overview
Ⅱ． Financial Results Overview 11
Slide 13: Consolidated P/L
Consolidated P/L Gross profit before write-offs and funding costs continued to increase by reversing decrease due to the sale of a group company Funding costs declined given the favorable funding environment Operating income onwards increased significantly partly due to gain on reversal of res
Slide 14: Profitability
Profitability Gross profit before write-offs and funding costs increased y-o-y reflecting accumulation of profitable deals - Gross profit before write-offs and funding costs of Financing increased from accumulation of highly profitable deals - Gross profit before write-offs and funding costs of Le
Slide 15: Funding
Funding Interest-bearing debt was roughly unchanged y-o-y Cost of funding and CoF ratio declined under the favorable funding environment Interest-bearing debt Funding costs (%) Cost of funding CoF ratio Borrowings 1,800 (¥bn) 3.2 CP 3.1 (¥bn) Bonds/securitization 3.0 0.46% 1,465.6 1,457.8 0.44%
Slide 16: Ⅲ. Business and Dividend Forecast
Ⅲ．Business and Dividend Forecast 15
Slide 17: Business and Dividend Forecast
Business and Dividend Forecast Net income attributable to owners of the parent is equivalent to 63% of the Company’s annual plan - Aiming to achieve plan by continuing to steadily accumulate assets, while focusing on initiatives in highly profitable fields Plan to raise annual dividend for the 1
Slide 18: Ⅳ. Appendix
IV. Appendix 17
Slide 19: Company Profile
Company Profile Company Name: IBJ Leasing Company, Limited Address: 1-2-6 Toranomon, Minato-ku, Tokyo 105-0001 Representative: Hiroshi Motoyama, President and CEO Establishment: December 1, 1969 Listing: Tokyo Stock Exchange, 1st Section (Code: 8425) Capital Stock: 17,874 million yen (Outstanding sh
Slide 20: Stock Status (as of September 30, 2016)
Stock Status (as of September 30, 2016) ○Outstanding Shares: 42,649,000 ○ Major shareholders ○Number of Shareholders: 28,569 Shares held Holding Shareholders ratio (1,000 shares) (%) ○Shareholder Distribution (Holding ratio) The Dai-ichi Life Insurance Company, Limited 2,930 6.87 NISSAN MOTOR CO., L
Slide 21: IBJL Group Internal Control System
IBJL Group Internal Control System IBJL Group has established and continues to effectively and appropriately operate an Management structure: 7 directors (incl. 2 outside directors), 4 auditors (incl. 3 outside auditors) ＊In compliance with Tokyo Stock Exchange regulations, the 2 outside directo
Slide 22: Consolidated B/S (Assets)
Consolidated B/S (Assets) (¥bn) Mar.31, Sep.30, Mar.31, Mar.31, Mar.31, Change Change 2016 2016 2013 2014 2015 (B) – (A) (B)/(A) (A) (B) Current Assets 1,265.6 1,356.0 1,434.4 1,554.0 1,506.9 - 47.1 - 3.0% Cash and Cash equivalents 30.5 37.7 38.7 49.4 36.4 - 13.0 - 26.4% Lease receivable 728.9 753.8
Slide 23: Consolidated B/S (Liabilities and Net worth)
Consolidated B/S (Liabilities and Net worth) (¥bn) Mar.31, Sep.30, Mar.31, Mar.31, Mar.31, Change Change 2016 2016 2013 2014 2015 (B) – (A) (B)/(A) (A) (B) Current Liabilities 979.9 1,019.0 1,044.3 1,119.2 1,065.6 - 53.6 - 4.8% Short-term borrowings 233.5 295.4 336.5 364.4 330.2 - 34.2 - 9.4% Curren
Slide 24: Consolidated statements of income
Consolidated statements of income (¥bn) FY12 FY13 FY14 FY15 1H FY16 1H Change Change 1H 1H 1H (A) (B) (B) – (A) (B)/(A) Revenues 178.8 177.0 168.9 166.2 181.4 ＋ 15.2 ＋ 9.1% Gross profit before write- 23.6 22.0 21.0 21.4 21.8 ＋ 0.4 ＋ 1.7% offs and funding costs Funding costs 3.4 3.1 3.1 3.2 2.6 - 0.6
Slide 25: Consolidated statement of comprehensive income
Consolidated statement of comprehensive income (¥bn) FY12 FY13 FY14 FY15 1H FY16 1H Change Change 1H 1H 1H (A) (B) (B) – (A) (B)/(A) Net income＊ 4.6 7.2 6.0 6.2 7.7 ＋ 1.5 ＋ 24.4% Unrealized gain on available-for- - 0.5 0.7 0.6 1.8 - 1.4 - 3.2 － sale securities Deferred loss on derivatives - 0.1 0.0
Slide 26: Gross profit before write-offs and funding costs by segment
Gross profit before write-offs and funding costs by segment (¥bn) FY12 FY13 FY14 FY15 1H FY16 1H Change Change 1H 1H 1H (A) (B) (B) – (A) (B)/(A) Revenues 178.8 177.0 168.9 166.2 181.4 ＋ 15.2 ＋ 9.1% Leasing 166.6 161.4 152.0 154.0 170.8 ＋ 16.8 ＋ 10.9% Installment sales 7.1 7.8 12.1 7.1 4.9 - 2.2 - 3