Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — Q3 FY2025 Earnings Presentation
24 slides from Mizuho Leasing's earnings presentation, Feb 5, 2026
Slide 1: Overview of the Third-Quarter Financial Results for FY2025
Overview of the Third-Quarter Financial Results for FY2025 Apr. 2025－Dec. 2025 February 5, 2026 ©︎2026 Mizuho Leasing Company, Ltd.
Slide 2: Financial Highlights of the Third-Quarter FY2025 Results
1 Financial Highlights of the Third-Quarter FY2025 Results ◼ Net income* reached 40.7 billion yen（+4.9 billion yen year-over-year, 90% against forecast） • Gross profit from Domestic Leasing and Real Estate businesses increased year-over-year, offsetting the increase in credit costs • Regarding equit
Slide 3: Table of Contents
2 Table of Contents 1. Overview of the Third-Quarter Financial Results for FY2025 2. Progress Toward Earnings Forecasts 3. Appendix 2 ©︎2026 Mizuho Leasing Company, Ltd.
Slide 4: Overview of the Third-Quarter Financial Results for FY2025
3 1. Overview of the Third-Quarter Financial Results for FY2025 ©︎2026 Mizuho Leasing Company, Ltd.
Slide 5: Third-Quarter Financial Results for FY2025
Third-Quarter Financial Results for FY2025 4 ⚫ Operating income remained largely flat at ¥35.3 bn (YoY–¥0.3 bn), offsetting the rise in funding costs and SG&A expenses including credit costs 未着手 ⚫ Equity in earnings of affiliates was ¥17 bn (YoY +¥2.6 bn) due to Aircastle's strong performance since
Slide 6: Factors behind Changes in Net Income
Factors behind Changes in Net Income 5 (¥bn) Gross profit Operating income Ordinary income Net income ＋4.4 －0.3 ＋1.1 ＋4.9 –5.8 +10.3 –1.1 +1.4 40.7 –2.2 +3.5 –1.1 –2.6 +2.6 35.8 (A) (B) (C) (D) (E) (F) FY24 Q3 Gross Profit before Funding costs Personnel and Credit costs Earnings from Non-operating E
Slide 7: Gross Profit and Operating Assets by Business Area
Gross Profit and Operating Assets by Business Area 6 ⚫ Domestic Leasing: Gross profit increased steadily due to the continued accumulation of high-quality operating assets ⚫ Real Estate: Gross profit increased due to the steady accumulation of operating assets, such as execution of large-scale bridg
Slide 8: Equity in Earnings and Losses of Affiliates
Equity in Earnings and Losses of Affiliates 7 ⚫ Domestic Leasing: Remained solid considering the impact of negative goodwill related to the acquisition of GECOSS shares in FY2024. ⚫ Real Estate/Environment and Energy: Increased the shareholding ratio from 15% to 30% of NSKRE ⚫ Overseas/Aviation: Inc
Slide 9: Funding
Funding 8 ⚫ Outstanding interest-bearing debt exceeded ¥3.5 trillion due to an increase in operating assets ⚫ The pace of increase in the yen funding cost ratio slowed as monetary policy tightening was delayed to December Outstanding Interest−Bearing Debt Quarterly Trends in Funding Cost (Ratio) By
Slide 10: Progress Toward Earnings Forecasts
9 2. Progress Toward Earnings Forecasts
Slide 11: Progress toward Earnings Forecast
Progress toward Earnings Forecast 10 ⚫ Each income level progressed steadily toward the earnings forecast announced in November ⚫ The earnings forecast remains unchanged, considering the uncertainty of the impact of domestic and international conditions, economic trends such as interest rates and fo
Slide 12: Appendix
11 3. Appendix
Slide 13: (Reference) Toward Management Conscious of Cost of Capital and Stock Price
(Reference) Toward Management Conscious of Cost of Capital and Stock Price 12 Our PBR improved to around 1x, reflecting the rise in our stock price. We will continue to focus on improving ROA and enhancing PER (by fostering growth expectations) Issue Measures Present Data ROA Expand business transac
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Slide 15: Main News & Topics in FY2025 1/3
Main News & Topics in FY2025 1/3 14 Date Contents Established ML ITAD Solutions Co., Ltd. as a consolidated subsidiary in partnership with Asset Associates Co., Apr. 11, Circular economy Ltd. 2025 — Promoting a circular economy for IT equipment through ITAD business Purchased shares of Nippon Steel
Slide 16: Main News & Topics in FY2025 2/3
Main News & Topics in FY2025 2/3 15 Date Contents Concluded a capital and business alliance with GECOSS CORPORATION and its consolidated subsidiary, Sep. 26, RENTALSYSTEM Co., Ltd. Inorganic 2025 — Accelerate existing business alliances through third-party allotment of new shares, product lineup and
Slide 17: Main News & Topics in FY2025 3/3
Main News & Topics in FY2025 3/3 16 Date Contents MM Power LLC, a consolidated subsidiary, commenced a tender offer for the investment units of Japan Inorganic/ Nov. 6, Environment and 2025 Infrastructure Fund Investment Corporation Energy — Resolved to acquire shares in Japan Infrastructure Fund Ad
Slide 18: Consolidated B/S (Assets)
Consolidated B/S (Assets) 17 （¥bn） Mar-22 Mar-23 Mar-24 Mar-25 Dec-25 Change % Change Current assets 2,166.7 2,279.7 2,378.1 2,542.5 2,628.1 +85.6 +3% Cash and deposits 25.3 34.0 56.7 68.1 72.7 +4.6 +7% Investment in lease 1,172.6 1,122.2 1,050.7 1,041.0 997.9 –43.1 –4% Installment sales receivable
Slide 19: Consolidated B/S (Liabilities and Equity)
Consolidated B/S (Liabilities and Equity) 18 （¥bn） Mar-22 Mar-23 Mar-24 Mar-25 Dec-25 Change % Change Current liabilities 1,548.4 1,573.5 1,715.2 1,991.9 2,141.2 +149.3 +7% Short−term borrowings 380.3 418.4 524.1 711.9 858.4 +146.5 +21% Current portion of corporate bonds 30.0 23.0 36.7 63.1 82.5 +19
Slide 20: Consolidated P/L
Consolidated P/L Gross 19 （¥bn） FY21 Q3 FY22 Q3 FY23 Q3 FY24 Q3 FY25 Q3 Change % Change Revenues 389.5 339.8 502.7 460.9 639.8 +178.9 +39% Gross profit before funding costs 44.4 55.2 66.2 80.3 90.6 +10.3 +13% Funding costs 5.6 7.6 12.5 18.3 24.1 +5.8 +32% Gross profit 38.8 47.6 53.7 62.0 66.4 +4.4 +
Slide 21: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income 20 （¥bn） FY21 Q3 FY22 Q3 FY23 Q3 FY24 Q3 FY25 Q3 Change % Change Net income 17.8 25.7 29.1 38.1 41.6 +3.5 +9% Unrealized gain on 0.7 3.9 4.1 0.8 1.8 +1.0 +120% available-for-sale securities Deferred gain/loss on derivatives –0.5 0.3 –0.8 –1.6 0.0 +1.6
Slide 22: Gross Profit before Funding Costs by Business Area
Gross Profit before Funding Costs by Business Area 21 （¥bn） FY21 Q3 FY22 Q3 FY23 Q3 FY24 Q3 FY25 Q3 Change % Change Revenues 389.5 339.8 502.7 460.9 639.8 +178.9 +39% Leasing and installment sales 376.5 320.3 478.5 424.8 596.8 +172.0 +40% Finance 13.3 19.9 25.2 31.3 34.5 +3.2 +10% Other 0.7 1.0 1.1
Slide 23: Newly Executed Contract Volume by Business Area
Newly Executed Contract Volume by Business Area 22 Leasing and Installment Sales Segment （¥bn） FY23 Q3 FY24 Q3 FY25 Q3 Change % Change Information and communications 64.5 112.1 102.5 –9.6 –9% Real estate 213.9 402.8 409.7 +6.9 +2% Industry and factory 72.0 77.1 90.2 +13.1 +17% Transport equipment 25
Slide 24: Contact
Contact Investor Relations Division Financial Planning Department Mizuho Leasing Company, Limited Tel: +81-3-5253-6560 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 risk
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