Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — Q1 FY2023 Earnings Presentation
20 slides from Mizuho Leasing's earnings presentation, Aug 4, 2023
Slide 1: Overview of the First-Quarter Financial Results for FY2023
Overview of the First-Quarter Financial Results for FY2023 August 4, 2023 Mizuho Leasing Company, Limited
Slide 2: Table of Contents
Table of Contents 1. Financial Results and Business Performance Overview 2. Progress Toward Earnings Forecasts 3. Appendix
Slide 3: 1. Financial Results and Business Performance Overview
1. Financial Results and Business Performance Overview
Slide 4: Summary of First-Quarter Results for FY2023
Summary of First-Quarter Results for FY2023 Continued to accumulate operating assets and maintained underlying profitability growth. Gross profit before funding costs increased by only ¥1.1 bn year on year, partly due to the lack of one-time factors (+¥1.0 bn related to aircraft) in the previous f
Slide 5: Changes in Operating Assets and Profits at Each Income Level
Changes in Operating Assets and Profits at Each Income Level Steadily accumulated operating assets alongside growth in gross profit before funding costs －Rent Alpha Pvt. Ltd. in India became a consolidated subsidiary in Q1, which is reflected in operating assets. However, it will be recorded in P/
Slide 6: Factors behind Changes in Ordinary Income
Factors behind Changes in Ordinary Income Gross profit Operating income −0.5 −1.4 (¥bn) 11.5 10.0 (−1.5) (A) (B) (C) Increased year on year due to rising interest rates on foreign currency-denominated assets against the (A) Funding costs backdrop of interest rate hikes in the United States from the
Slide 7: Gross Profit before Funding Costs and Operating Assets by Business Area
Gross Profit before Funding Costs and Operating Assets by Business Area Domestic leasing businesses: Increased gross profit before funding costs partly due to gain on individual cancellations, and secured profit while maintaining the balance. Real estate/environment and energy businesses: Assets
Slide 8: Equity in Earnings and Losses (Non-operating Income and Expenses)
Equity in Earnings and Losses (Non−operating Income and Expenses) Excluding the impact of loss on valuation of investment securities at RICOH LEASING, domestic associated companies performed well overall. ーEquity in earnings of Aircastle improved due to the recovery of its business performance. Eq
Slide 9: Funding
Funding Increased Interest-bearing debt through long-term debt and corporate bonds against a backdrop of accumulated operating assets. Funding costs increased year on year due to impact of interest rate hikes in foreign currencies. Outstanding interest−bearing debt Long-term credit rating trends
Slide 10: 2. Progress Toward Earnings Forecasts
2. Progress Toward Earnings Forecasts
Slide 11: Progress Toward Earnings Forecasts
Progress Toward Earnings Forecasts In Q1, profits at each income level progressed as planned. FY2022 FY2023 FY23 Q1 Progress (Results) (Forecast) (Results) rate （¥bn） Operating income 31.8 34.0 7.2 21% Credit costs 1.0 3.0 0.7 23% Ordinary income 40.1 45.0 10.0 22% Equity in earnings and losses 9.
Slide 12: 3. Appendix
3. Appendix MIZUHO
Slide 13: Main News & Topics in FY2023
Main News & Topics in FY2023 Date Contents Concluded one of the Largest Virtual PPAs in Japan with Kao Corporation Environment Apr. 28, 2023 and energy Switched power used at Kao’s Sumida Office to additional renewable energy sources １ Concluded a Business Agreement with Social Interior Inc. June 13
Slide 14: Consolidated B/S (Assets)
Consolidated B/S (Assets) YoY YoY % End−Mar. End−Mar. End−Mar. End−Mar. End−Jun. （¥bn） Change Change 2020 2021 2022 2023 (1) 2023 (2) (3) = (2)−(1) (3) / (1) Current assets 1,947.3 2,085.1 2,166.7 2,279.7 2,304.4 ＋24.7 ＋1% Cash and deposits 22.8 21.1 25.3 34.0 29.6 −4.4 −13% Investment in lease 1,08
Slide 15: Consolidated B/S (Liabilities and Equity)
Consolidated B/S (Liabilities and Equity) YoY YoY % End−Mar. End−Mar. End−Mar. End−Mar. End−Jun. （¥bn） Change Change 2020 2021 2022 2023 (1) 2023 (2) (3) = (2)−(1) (3) / (1) Current liabilities 1,314.1 1,492.9 1,548.4 1,573.5 1,591.6 ＋18.1 ＋1% Short−term borrowings 256.7 317.8 380.3 418.4 432.0 ＋13.
Slide 16: Consolidated P/L
Consolidated P/L YoY YoY % FY19 FY20 FY21 FY22 FY23 （¥bn） Change Change Q1 Q1 Q1 Q1 (1) Q1 (2) (3) = (2)−(1) (3) / (1) Revenues 143.2 115.4 118.3 114.0 123.9 ＋9.9 ＋9% Gross profit before funding costs 14.5 14.6 14.5 18.1 19.2 ＋1.1 ＋6% Funding costs 2.6 2.2 1.9 2.1 3.7 ＋1.6 ＋78% Gross profit 11.9 12.
Slide 17: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income YoY YoY % FY19 FY20 FY21 FY22 FY23 （¥bn） Change Change Q1 Q1 Q1 Q1 (1) Q1 (2) (3) = (2)−(1) (3) / (1) Net income 4.3 7.6 5.1 8.5 7.1 −1.4 −17% Unrealized gain on −0.6 −2.2 −0.1 3.8 2.7 −1.1 −29% available−for−sale securities Deferred gain/loss on deriv
Slide 18: Gross Profit before Funding Costs by Business Area
Gross Profit before Funding Costs by Business Area YoY YoY % FY19 FY20 FY21 FY22 FY23 （¥bn） Change Change Q1 Q1 Q1 Q1 (1) Q1 (2) (3) = (2)−(1) (3) / (1) Revenues 143.2 115.4 118.3 114.0 123.9 ＋9.9 ＋9% Leasing and installment sales 138.8 111.6 114.3 108.2 117.2 ＋9.0 ＋8% Finance 4.2 3.9 4.1 6.0 7.0 ＋1
Slide 19: Newly Executed Contract Volume by Business Area
Newly Executed Contract Volume by Business Area Leasing and Installment Sales Segment YoY YoY % FY21 FY22 FY23 （¥bn） Change Change Q1 Q1 (1) Q1 (2) (3) = (2)−(1) (3) / (1) Information and communications 20.4 23.3 19.6 −3.7 −16% Real estate 23.3 11.8 6.9 −4.9 −41% Industry and factory 15.5 15.6 9.8 −
Slide 20: Contact
Contact Mizuho Leasing Company, Limited Corporate Communications Department Tel: +81-3-5253-6540 This document contains forecasts and other forward−looking statements that are based on information available at the time of preparation of this document and subject to certain risks and uncertainties, a
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