Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — IBJ Leasing — Q1 FY2014 Earnings Presentation
8 slides from Mizuho Leasing's earnings presentation, Aug 7, 2014
Slide 1: Overview of Financial Results: First-Quarter Results for FY2014
Overview of Financial Results Overview First-Quarter Results for FY2014 August 7, 2014 IBJ Leasing Co., Ltd. This document contains forecasts and other forward-looking statements that are based on information available at the time of preparation of this document. Actual business results may differ m
Slide 2: Consolidated P/L
Consolidated P/L Gross profit declined, despite the absorption of the drop in yield due to the aggressive accumulation of operating assets 1Q credit cost reversal was ¥0.4 billion, marking a y-o-y contraction in the reversal amount as a result of the large reversal in 1Q of the previous year P
Slide 3: P/L Overview
P/L Overview The increase in the volume of operating assets absorbed the decline in yields, leading to a narrowing of the decline in gross profit before write-offs and funding costs Funding costs maintained a flat trajectory due to the decline in the CoF ratio The flow base spread continued to
Slide 4: Sales
Sales Contract execution volume increased 12% y-o-y - Leasing and installment sales increased 3% y-o-y, while financing grew 21% y-o-y The balance of operating assets slightly dropped 1% y-o-y due to the decline in financing Contract execution volume Operating assets (¥bn) Leasing and installmen
Slide 5: Leasing and Installment Sales
Leasing and Installment Sales We aggressively captured domestic-related demand, which is a growth sector, and contract execution volume increased 3% y-o-y - The significant increase in business with companies in the distribution, retail, and logistics sectors covered the fading of last year’s larg
Slide 6: Financing
Financing Factoring increased along with both contract execution volume and the balance of operating assets The balance of operating assets was down 5% versus March 31, 2014 - Specialized Finance, etc., declined due to the payoff of large projects, while aircraft financing increased - Real Estat
Slide 7: Interest-bearing Debt and Net Assets
Interest-bearing Debt and Net Assets Secured high-quality funds with the issuance of CP and corporate bonds, etc., maintaining a flat funding cost trajectory - Issued 4th issuance of corporate bonds totaling ¥10 billion in May (5-Year bonds, Coupon: 0.36%) Net assets increased ¥1.9 billion versu
Slide 8: Full Year Forecast
Full Year Forecast Forecasting a full-year increase in net income despite expectations for considerable credit costs at time of forecast - On pace to achieve full-year forecasts following 1Q results Plan to pay an annual dividend of ¥56 per share in FY2014, a ¥2 per share rise and the 13th strai