Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — FY2022 Earnings Presentation
25 slides from Mizuho Leasing's earnings presentation, May 12, 2023
Slide 1: Overview of Financial Results for FY2022
Overview of Financial Results for FY2022 May 12, 2023
Slide 2: Table of Contents
Table of Contents 1. Financial Results and Business Performance Overview 2. Promotion of Sustainability 3. Dividends and FY2023 Earnings Forecasts 4. Appendix 1
Slide 3: 1. Financial Results and Business Performance Overview
1. Financial Results and Business Performance Overview
Slide 4: Summary of Results for FY2022
Summary of Results for FY2022 Underlying profitability grew steadily, and profits at each income level increased significantly year on year. Efforts to accumulate assets and focus on profitability continued in focus areas. New investments made in FY2021 contributed to profits, and the business
Slide 5: Factors behind Changes in Net Income Attributable to Owners of the Parent
Factors behind Changes in Net Income Attributable to Owners of the Parent (¥bn) Operating Ordinary income income Gross profit +13.9 +20.0 28.4 (+13.5) +6.9 14.9 (A) (B) (C) (D) (A) Income from lease, Significantly increased due to large−scale one−time profit related to aircraft leasing (approx. ¥1.0
Slide 6: Summary of Results for the Fourth Quarter of FY2022 (Quarterly Results)
Summary of Results for the Fourth Quarter of FY2022 (Quarterly Results) Operating assets grew steadily. The growing trend of underlying gross profit before funding costs continued. Net income attributable to owners of the parent amounted to ¥3.6 bn for Q4 (three months) due to the recording of s
Slide 7: Operating Assets and Gross Profit before Funding Costs by Business Area
Operating Assets and Gross Profit before Funding Costs by Business Area Operating assets increased due to the accumulation of assets, primarily in focus areas. Balance remained almost unchanged in the domestic leasing business after the lack of short−term assets in Q1. Efforts to focus on profit
Slide 8: Equity in Earnings and Losses (Non-operating Income and Expenses)
Equity in Earnings and Losses (Non−operating Income and Expenses) Both domestic and overseas associated companies recorded steady profits. Even excluding special factors in the previous year, equity in earnings increased significantly. Equity in earnings and losses (Special (of which, YoY change
Slide 9: Business Performance Overview
Business Performance Overview Newly executed contract volume increased from the previous fiscal year mainly due to the accumulation of large−scale contracts executed in the focus areas such as real estate and aircraft. Operating assets also increased significantly (by ¥163.5 bn from the end of t
Slide 10: Funding
Funding Outstanding interest−bearing debt increased in line with an increase in operating assets, while efforts were made to stabilize the funding structure. Funding cost ratio increased due to the rising interest rates in foreign currencies. Outstanding interest−bearing debt Funding costs (rati
Slide 11: Business Topics: Developing Renewable Energy Generation Business
Business Topics: Developing Renewable Energy Generation Business Collaborating with the Mizuho Financial Group and other partners to assist electricity consumers in implementing initiatives with our renewable energy business Five contracting companies* reached a We concluded a capital and We investe
Slide 12: Business Topics: Global Strategy and Entry into India
Business Topics: Global Strategy and Entry into India We are entering India through our proprietary deal sourcing on top of jointly operating the overseas leasing and financing business with Marubeni Corporation. Rent Alpha Pvt. Ltd. in India Our business Aircastle Limited in the United States * Joi
Slide 13: 2. Promotion of Sustainability
2. Promotion of Sustainability
Slide 14: Promotion of Sustainability—Initiatives integrated with business activities (1/2)
Promotion of Sustainability—Initiatives integrated with business activities (1/2) Contributing to a decarbonized society Leading toward a circular economy Supply of solar power generated Building a circular−economy business platform In collaboration with Mizuho Bank and our partner We concluded
Slide 15: Promotion of Sustainability—Initiatives integrated with business activities (2/2)
Promotion of Sustainability—Initiatives integrated with business activities (2/2) Creating a society and workplace where Creating new value through technology everyone can thrive Strengthening our digital promotion structure Establishment of Human Rights Policy We established the Digital Promotion
Slide 16: 3. Dividends and FY2023 Earnings Forecasts
3. Dividends and FY2023 Earnings Forecasts
Slide 17: Dividends in FY2022 and FY2023 Earnings Forecasts and Dividends
Dividends in FY2022 and FY2023 Earnings Forecasts and Dividends FY2023 Earnings Forecast: We continue to expand underlying profit while at the same time increasing operating assets. Our forecast assumes that interest rate will remain at a high level and substantial credit costs will remain unchang
Slide 18: Appendix
Appendix
Slide 19: Consolidated B/S (Assets)
Consolidated B/S (Assets) YoY YoY % End−Mar. End−Mar. End−Mar. End−Mar. End−Mar. （¥bn） Change Change 2019 2020 2021 2022 (1) 2023 (2) (3) = (2)−(1) (3) / (1) Current assets 1,866.6 1,947.3 2,085.1 2,166.7 2,279.7 ＋113.0 ＋5% Cash and deposits 25.9 22.8 21.1 25.3 34.0 ＋8.7 ＋34% Investment in lease 930
Slide 20: Consolidated B/S (Liabilities and Equity)
Consolidated B/S (Liabilities and Equity) YoY YoY % End−Mar. End−Mar. End−Mar. End−Mar. End−Mar. （¥bn） Change Change 2019 2020 2021 2022 (1) 2023 (2) (3) = (2)−(1) (3) / (1) Current liabilities 1,294.2 1,314.1 1,492.9 1,548.4 1,573.5 ＋25.1 ＋2% Short−term borrowings 302.2 256.7 317.8 380.3 418.4 ＋38.
Slide 21: Consolidated P/L
Consolidated P/L YoY YoY % FY2021 FY2022 （¥bn） FY2018 FY2019 FY2020 Change Change (1) (2) (3) = (2)−(1) (3) / (1) Revenues 384.9 539.2 497.9 554.8 529.7 − 25.1 − 5% Gross profit before funding costs 52.6 60.3 59.3 62.1 72.3 ＋10.2 ＋16% Funding costs 8.5 9.7 8.0 7.6 10.9 ＋3.3 ＋44% Gross profit 44.1 50
Slide 22: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income YoY YoY % FY2021 FY2022 （¥bn） FY2018 FY2019 FY2020 Change Change (1) (2) (3) = (2)−(1) (3) / (1) Net income 17.2 18.1 22.5 15.5 29.4 ＋13.9 ＋89% Unrealized gain on − 2.3 0.7 − 1.0 0.9 4.8 ＋3.9 ＋447% available−for−sale securities Deferred gain/loss on de
Slide 23: Gross Profit before Funding Costs by Business Area
Gross Profit before Funding Costs by Business Area YoY YoY % FY2021 FY2022 （¥bn） FY2018 FY2019 FY2020 Change Change (1) (2) (3) = (2)−(1) (3) / (1) Revenues 384.9 539.2 497.9 554.8 529.7 −25.1 −5% Leasing and installment sales 366.4 512.1 482.9 537.8 505.2 −32.6 −6% Finance 17.4 19.6 15.4 17.4 25.2
Slide 24: Newly Executed Contract Volume by Business Area
Newly Executed Contract Volume by Business Area Leasing and Installment Sales Segment FY2021 FY2022 YoY Change YoY % Change （¥bn） FY2020 (1) (2) (3) = (2)−(1) (3) / (1) Information and communications 176.1 158.9 115.4 − 43.5 − 27% Real estate 154.3 151.7 157.4 ＋5.7 ＋4% Industry and factory 130.8 75.
Slide 25: Connect needs to create the future
Connect needs to create the future Inquiries Mizuho Leasing Company, Limited Corporate Communications Department Tel : +81−3−5253−6540 Fax: +81−3−5253−6539 This document contains forecasts and other forward−looking statements that are based on information available at the time of preparation of this
Mizuho Leasing Company — FY2022 Earnings Presentation on 6ix