Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — Q3 FY2024 Earnings Presentation
19 slides from Mizuho Leasing's earnings presentation, Feb 5, 2025
Slide 1: Overview of the Third-Quarter Financial Results for FY2024
Overview of the Third-Quarter Financial Results for FY2024 February 5, 2025 ©︎2024 Mizuho Leasing Company, Ltd.
Slide 2: Financial Highlights of the Third Quarter FY2024 Results
1 Financial Highlights of the Third Quarter FY2024 Results ◼ Ordinary income of ¥49.7 bn (progress rate 90%) and net income attributable to owners of the parent of ¥35.8 bn (progress rate 94%) • Gross profit increased due to the active accumulation of operating assets backed by capital increase • Eq
Slide 3: 1. Overview of Third-Quarter Results for FY2024
2 1. Overview of Third-Quarter Results for FY2024 ©︎2024 Mizuho Leasing Company, Ltd.
Slide 4: Summary of Third-Quarter Results for FY2024
3 Summary of Third-Quarter Results for FY2024 ⚫ Gross profit increased by ¥8.3 bn YoY to ¥62.0 bn due to the active accumulation of operating assets from the effect of a capital increase last June, which absorbed the rise in funding costs. ⚫ Net income attributable to owners of the parent increased
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 4 Gross profit Operating Ordinary (¥bn) +8.3 income income +5.5 +9.7 –5.8 –1.7 +0.1 –0.7 +5.8 –0.8 +14.1 –2.3 35.8 –0.5 (+8.2) 27.6 (A) (B) (C) (D) (E) (F) FY2023 Gross profit before Funding costs Personnel and Credit costs Ea
Slide 6: Gross Profit and Operating Assets by Business Area
Gross Profit and Operating Assets by Business Area 5 ⚫ Domestic leasing: Gross profit remained at the same level as the previous year due to successful initiatives focused on profitability, despite the absence of a ¥1.4 bn gain from the cancellation of a large contract in the previous fiscal year. ⚫
Slide 7: Equity in Earnings and Losses of Affiliates
Equity in Earnings and Losses of Affiliates (Non−operating Income and Expenses) 6 Domestic: Most of the companies performed steadily (¥+6.4 bn YoY), in particular, NIPPON STEEL KOWA REAL ESTATE and RICOH LEASING. Overseas: Most of the companies remained sluggish (¥–0.8 bn YoY), partly due to uncerta
Slide 8: Funding
7 Funding ⚫ Funding costs are on an upward trend due to a significant increase in the outstanding interest-bearing debt (¥+524.2 bn YoY) in line with increased operating assets, and a continued trend of rising yen interest rates. ⚫ Realized stable fundraising through diversified procurement methods,
Slide 9: 2. Consolidated Earnings Forecasts and Dividend Forecasts
8 2. Consolidated Earnings Forecasts and Dividend Forecasts
Slide 10: Revision of Consolidated Earnings Forecast and Year-End Dividend Forecast
Revision of Consolidated Earnings Forecast and Year-End Dividend Forecast (Dividend increase) 9 ⚫ Net income attributable to owners of the parent for the third quarter of FY2024 was ¥35.8 bn, representing a progress rate of 94% against the earnings forecast for the fiscal year. ⚫ Revised our consoli
Slide 11: Appendix
10 Appendix
Slide 12: Main News & Topics in FY2024
Main News & Topics in FY2024 11 Date Contents Apr. 25, Concluded a capital and business alliance agreement with GECOSS Corporation —Acquired 20.03% of Gecoss Corporation’s shares, a major heavy temporary construction business operator of Inorganic 2024 the JFE Group (making it an equity-method affil
Slide 13: Consolidated B/S (Assets)
Consolidated B/S (Assets) 12 YoY YoY （¥bn） End−Mar. End−Mar. End−Mar. End−Mar. End−Dec. Change % Change 2021 2022 2023 2024 (1) 2024 (2) (3) = (2)−(1) (3) / (1) Current assets 2,085.1 2,166.7 2,279.7 2,378.1 2,452.6 ＋74.5 ＋3% Cash and deposits 21.1 25.3 34.0 56.7 52.5 –4.2 –7% Investment in lease 1,
Slide 14: Consolidated B/S (Liabilities and Equity)
Consolidated B/S (Liabilities and Equity) 13 YoY YoY （¥bn） End−Mar. End−Mar. End−Mar. End−Mar. End−Dec. Change % Change 2021 2022 2023 2024 (1) 2024 (2) (3) = (2)−(1) (3) / (1) Current liabilities 1,492.9 1,548.4 1,573.5 1,715.2 1,948.5 ＋233.3 ＋14% Short−term borrowings 317.8 380.3 418.4 524.1 705.4
Slide 15: Consolidated P/L
Consolidated P/L 14 YoY YoY （¥bn） FY20 FY21 FY22 FY23 FY24 Change % Change Q3 Q3 Q3 Q3(1) Q3(2) (3) = (2)−(1) (3) / (1) Revenues 350.1 389.5 339.8 502.7 460.9 –41.8 –8% Gross profit before funding costs 43.0 44.4 55.2 66.2 80.3 ＋14.1 ＋21% Funding costs 6.1 5.6 7.6 12.5 18.3 ＋5.8 ＋46% Gross profit 36
Slide 16: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income 15 YoY YoY （単位:億円） FY20 FY21 FY22 FY23 FY24 Change % Change Q3 Q3 Q3 Q3(1) Q3(2) (3) = (2)−(1) (3) / (1) Net income 18.5 17.8 25.7 29.1 38.1 ＋9.0 ＋31% Unrealized gain on –2.6 0.7 3.9 4.1 0.8 –3.3 –80% available−for−sale securities Deferred gain/loss on
Slide 17: Gross Profit before Funding Costs by Business Area
Gross Profit before Funding Costs by Business Area 16 YoY YoY （¥bn） FY20 FY21 FY22 FY23 FY24 Change % Change Q3 Q3 Q3 Q3(1) Q3(2) (3) = (2)−(1) (3) / (1) Revenues 350.1 389.5 339.8 502.7 460.9 –41.8 –8% Leasing and installment sales 339.5 376.5 320.3 478.5 424.8 –53.7 –11% Finance 10.9 13.3 19.9 25.
Slide 18: Newly Executed Contract Volume by Business Area
Newly Executed Contract Volume by Business Area 17 Leasing and Installment Sales Segment YoY YoY （¥bn） FY22 FY23 FY24 Change % Change Q3 Q3(1) Q3(2) (3) = (2)−(1) (3) / (1) Information and communications 78.1 64.5 112.1 ＋47.6 ＋74% Real estate 83.2 213.9 402.8 ＋188.9 ＋88% Industry and factory 42.5 72
Slide 19: 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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