Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — IBJ Leasing — H1 FY2017 Earnings Presentation
26 slides from Mizuho Leasing's earnings presentation, Nov 10, 2017
Slide 1: FY2017 First-Half Financial Results Presentation Materials
Presentation Materials FY2017 First-Half Financial Results Presentation Materials November 10, 2017 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 ・・・ 2 II. Financial Results Overview ・・・ 6 III. Overview of Fifth Mid-term Management Plan ・・・ 10 IV. Earnings Forecasts and Dividends ・・・ 15 V. Appendix ・・・ 17 This document contains forecasts and other forward-looking statements that are based on informati
Slide 3: I. Business Performance Overview
I. Business Performance Overview 2
Slide 4: Financial Highlights
Financial Highlights Gross profit before write-offs and funding costs increased y-o-y. Net income attributable to owners of the parent performed favorably against full-year plan, although it declined y-o-y owing mainly to large credit cost reversals in the same period of the previous fiscal year
Slide 5: Leasing and Installment Sales
Leasing and Installment Sales Information and Communications and Construction grew, but overall volume declined y-o-y partly owing to the selection and execution of projects in Real Estate. Contract execution volume by equipment type (¥bn) FY15 FY16 FY17 Change (%) 1H 1H 1H Industrial and factory
Slide 6: Financing
Financing Contract execution volume increased y-o-y. ー In Commercial Distribution Finance / Loan, etc., volume increased due to contract conclusion in short-term factoring and commercial distribution support. ー In Aircraft Finance, volume increased due to measures on aircraft-backed collateral loa
Slide 7: II. Financial Results Overview
II. Financial Results Overview 6
Slide 8: Consolidated P/L
Consolidated P/L Gross profit before write-offs and funding costs increased y-o-y due to accumulation of superior projects. ーAssets such as real estate and aircraft operating leases denominated in foreign currencies contributed. Due to an increase in funding costs and a decrease in gains on cred
Slide 9: Operating Assets and Yield
Operating Assets and Yield Operating assets at the end of period and gross profit margin before write-offs and funding costs remained steady y-o-y. Operating assets Yield Leasing and installment sales (¥bn) Financing FY16 FY17 Change 1H 1H 1,581.0 1,608.7 1,606.3 Gross profit margin 1,600 before w
Slide 10: Funding
Funding Long-term funding was increased to improve financial stability, and the long-term ratio rose. Funding costs increased mainly due to more foreign currency borrowings. The CP issuance limit of IBJ Leasing was increased from ¥400.0 billion to ¥550.0 billion in order to enhance channels for
Slide 11: III. Overview of Fifth Mid-term Management Plan
III. Overview of Fifth Mid-term Management Plan 10
Slide 12: Overview of Fifth Mid-term Management Plan (FY2017-2019)
Overview of Fifth Mid-term Management Plan (FY2017-2019) Vision “Value-creating company tackling challenges together with clients” Business Strategies and Reinforcement of Management Base Basic policy Vigorously promote more profitable businesses leveraging expertise and financial strengths gained E
Slide 13: Focus area (1)
Focus area (1) Summary Steadily promote marketing strategies of each focus area in the Fifth Mid-term Management Plan Each focus area Business domain Marketing strategy Topics ・In addition to the mainstay financing • Concluded first contract for a large project solutions, promote new business thro
Slide 14: Focus area (2)
Focus area (2) Business domain Marketing strategy Topics ・Expand the scope from sales to • Concluded contract for a large hospitals Execution automobile lease to support the Medical and “Community-based integrated care system” volume business expansion of a major “Data health and preventive health m
Slide 15: Focus area (3)
Focus area (3) Business domain Marketing strategy Topics ・Extensively capture demand associated with • Commenced leasing of large-scale companies’ investment in energy saving wind farm －Strengthen consulting functions (see (1) below) Execution Environment and volume ・Expand coverage of the power-rel
Slide 16: IV. Earnings Forecasts and Dividends
Ⅳ. Earnings Forecasts and Dividends 15
Slide 17: Earnings Forecast and Dividends
Earnings Forecast and Dividends Net income attributable to owners of the parent is equivalent to 52% of the Company’s annual plan. Plan to raise annual dividend for the 16th straight year in FY2017; a ¥2 increase to ¥66/share (¥bn) FY2016 FY2017 Change % Change (Results) (Forecast) 1H results %
Slide 18: V. Appendix
Ⅴ. 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 shares:
Slide 20: Stock Status (as of September 30, 2017)
Stock Status (as of September 30, 2017) ○ Outstanding shares: 42,649,000 ○ Major shareholders ○ Number of shareholders: 28,354 Shareholders Shares held Holding ratio (1,000 shares) （％） ○ Shareholder distribution (Holding ratio) The Dai-ichi Life Insurance Company, Limited 2,930 6.87 Individuals, etc
Slide 21: IBJL Group Internal Control System
IBJL Group Internal Control System IBJL Group has established and continues to effectively and appropriately operate an internal control system that ensures proper conduct of business operations. Management structure: 9 directors (incl. 3 outside directors), 4 auditors (incl. 4 outside auditors)
Slide 22: Consolidated B/S (Assets)
Consolidated B/S (Assets) (¥bn) Mar.31, Sep.30, Mar.31, Mar.31, Mar.31, Change Change 2017 2017 2014 2015 2016 (B)-(A) (B)/(A) (A) (B) Current assets 1,356.0 1,434.4 1,554.0 1,566.6 1,548.4 -18.2 - 1.2% Cash and cash equivalents 37.7 38.7 49.4 42.3 44.5 +2.2 +5.1% Lease receivable 753.8 812.0 842.0
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 2017 2017 2014 2015 2016 (B)-(A) (B)/(A) (A) (B) Current liabilities 1,019.0 1,044.3 1,119.2 1,045.8 1,010.6 -35.2 -3.4% Short-term borrowings 295.4 336.5 364.4 312.7 309.0 -3.7 -1.2% Current por
Slide 24: Consolidated Statements of Income
Consolidated Statements of Income (¥bn) FY13 FY14 FY15 FY16 1H FY17 1H Change Change 1H 1H 1H (A) (B) (B)-(A) (B)/(A) Revenues 177.0 168.9 166.2 181.4 178.4 -3.0 - 1.6% Gross profit before write-offs and funding costs 22.0 21.0 21.4 21.8 22.2 +0.4 +1.9% Funding costs 3.1 3.1 3.2 2.6 3.4 +0.8 +29.9%
Slide 25: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income (¥bn) FY13 FY14 FY15 FY16 1H FY17 1H Change Change 1H 1H 1H (A) (B) (B)-(A) (B)/(A) Net income* 7.2 6.0 6.2 7.7 6.9 -0.8 -9.7% Unrealized gain on available-for-sale 0.7 0.6 1.8 -1.4 1.6 +3.0 － securities Deferred loss on derivatives under 0.0 -0.2 -0.1
Slide 26: Gross Profit Before Write-offs and Funding Costs by Segment
Gross Profit Before Write-offs and Funding Costs by Segment (¥bn) FY13 FY14 FY15 FY16 1H FY17 1H Change Change 1H 1H 1H (A) (B) (B)-(A) (B)/(A) Revenues 177.0 168.9 166.2 181.4 178.4 -3.0 -1.6% Leasing 161.4 152.0 154.0 170.8 165.3 -5.5 -3.2% Installment sales 7.8 12.1 7.1 4.9 6.6 +1.7 +34.3% Loans