Mizuho Leasing Company, Limited · TSE:8425
Mizuho Leasing — IBJ Leasing — H1 FY2015 Earnings Presentation
25 slides from Mizuho Leasing's earnings presentation, Nov 6, 2015
Slide 1: FY2015 First-Half Financial Results Presentation Materials
Presentation Materials FY2015 First-Half Financial Results Presentation Materials November 6, 2015 IBJ Leasing Co., Ltd. (Securities Code: 8425) Inquiries: Toshiyuki Nishii, Corporate Communication Division Tel:+81-3-5253-6540 Fax:+81-3-5253-6539 This document contains forecasts and other forward-lo
Slide 2: Contents
Contents ◆FY2015 First-Half Results Highlights ･･ 2 Ⅰ．Business Performance Overview ･･･ 3 Ⅱ．Financial Results Overview ････････ 11 Ⅲ．Business and Dividend Forecast ･･･ 15 (Appendix) ･･･････････････････････････ 17 1
Slide 3: FY2015 First-Half Results Highlights
FY2015 First-Half Results Highlights Contract execution volume expanded sharply as we steadily implemented our basic strategies Operating assets also expanded, nearly reaching our medium-term plan’s target of ¥1,500 billion a year early Gross profit before write-offs & funding costs rebounded
Slide 4: Business Performance Overview
Ⅰ．Business Performance Overview 3
Slide 5: Basic strategy for the Fourth Mid-term Management Plan
Basic strategy for the Fourth Mid-term Management Plan Numerical targets Theme Operating Assets “Challenging for renewed growth” （¥bn） 1,498.0 1,500.0 1,500.0 1,500.0 1,432.3 1,343.0 1 year ahead Business Strategies of schedule （Plan） （Target） Enhancement of core businesses 0.0 1,000.0 Improvement o
Slide 6: Sales
Sales Contract execution volume expanded 28% y-o-y overall as Leasing and installment sales and Financings both increased - Leasing and installment sales：+22%, Financing: +34% Operating assets increased 5% compared to the end of the previous fiscal year, nearly achieving the full-year target of
Slide 7: Leasing and Installment Sales
Leasing and Installment Sales Contract execution volume increased steadily 22% y-o-y, same as the previous year - In Industrial and factory equipment, contract execution volume increased 54% y-o-y, as we continued to work on large companies’ capital investment projects - In Information and communi
Slide 8: Financing
Financing Contract execution volume grew in all fields as a result of our focus on capturing diverse financing needs - Factoring contract execution volume was firm as we continued to respond to the needs of large companies - We positioned Specialized Finance and Aircraft Finance as key areas, and
Slide 9: Core Businesses Overview
Core Businesses Overview 【 Customer Base Expansion 】 We anticipated the changes in the environment surrounding our customers, and proactively carried out consultative sales to address management issues - We captured various needs, centered on large- and medium-sized companies which have been our s
Slide 10: Specialized Finance
Specialized Finance 【Aircraft Business】 We expanded our deal sourcing routes, and proactively worked on aircraft-backed collateral loans targeting leading airlines 【Specialized Finance, etc.】 We captured a large number of highly profitable deals, such as subordinated loans and cross-border syndi
Slide 11: Overseas Business
Overseas Business Amid the changes in Asia’s economy, we steadily amassed superior assets while assessing risk We continued to focus on new initiatives aimed at bolstering and expanding overseas business - We analyzed regions, industries and distribution channels, and promoted selective initiati
Slide 12: Financial Results Overview
Ⅱ．Financial Results Overview 11
Slide 13: Consolidated P/L
Consolidated P/L Operating assets increased steadily. Accordingly gross profit before write-offs and funding costs also increased Posting of credit costs (as opposed to a cost reversal last year) resulted in declines in operating income and ordinary income, but net income increased thanks to an
Slide 14: Profitability
Profitability Gross profit before write-offs and funding costs rebounded higher due to the accumulation of superior operating assets - In Leasing and Installment Sales, assets were increased while suppressing the drop in spreads, thereby keeping profit on par with the previous year - In Financing,
Slide 15: Interest-bearing Debt and Net Assets
Interest-bearing Debt and Net Assets Funding costs were again low The CP issuance limit was increased by ¥50 billion in response to the growth in operating assets - IBJ Leasing: ¥350 billion ⇒ ¥400 billion; IBJL-TOSHIBA Leasing: ¥150 billion Interest-bearing debt Funding costs（%） （¥bn） Borrowing
Slide 16: Business and Dividend Forecast
Ⅲ．Business and Dividend Forecast 15
Slide 17: Results Forecast and Dividend
Results Forecast and Dividend Having made good progress toward full-year targets in the first half, we will accelerate implementation of basic strategies in the second half to achieve our goals We passed a resolution to pay an interim dividend of ¥30 per share. Adding this to the year-end divide
Slide 18: Appendix
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: Setsu Onishi, President and CEO Establishment: December 1, 1969 Listing: Tokyo Stock Exchange, 1st Section (Code:8425) Capital Stock: ¥17.9 billion (Outstanding shares: 42,6
Slide 20: Shareholders (As of September 30, 2015)
Shareholders（As of September 30, 2015） ○Outstanding Shares: 42,649 thousand ○ Largest shareholders Shares ○Shareholders 19,690 Shareholders held Ratio （％） （thousand） The Dai-ichi Life Insurance Company, Limited 2,930 6.87 ○Shareholder Distribution（Holding ratio） NISSAN MOTOR.,LTD. Retirement Benefit
Slide 21: Consolidated B/S (Assets)
Consolidated B/S (Assets) （¥bn） Mar.31, Sep.30, Mar.31, Mar.31, Mar.31, Change Change 2015 2015 2012 2013 2014 (B) – (A) (B)/(A) (A) (B) Current Assets 1,229.1 1,265.6 1,356.0 1,434.4 1,475.9 ＋41.5 +2.9% Cash and Cash equivalents 41.3 30.5 37.7 38.7 39.2 ＋0.5 +1.2% Lease receivable 704.2 728.9 753.8
Slide 22: 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 2015 2015 2012 2013 2014 (B) – (A) (B)/(A) (A) (B) Current Liabilities 900.9 979.9 1,019.0 1,044.3 1,058.7 ＋14.4 +1.4% Short-term borrowings 172.9 233.5 295.4 336.5 342.2 ＋5.7 +1.7% Current portio
Slide 23: Consolidated statements of income
Consolidated statements of income （¥bn） FY11 FY12 FY13 FY14 FY15 Change Change 1st Half 1st Half 1st Half 1st Half (A) 1st Half (B) (B)-(A) (B)/(A) Revenues 128.9 178.8 177.0 168.9 166.2 -2.7 -1.6% Gross profit before write-offs 17.4 23.6 22.0 21.0 21.4 ＋0.4 +2.2% and funding costs Funding costs 2.4
Slide 24: Consolidated statement of comprehensive income
Consolidated statement of comprehensive income （¥bn） FY14 FY15 FY11 FY12 FY13 Change Change 1st Half 1st Half 1st Half 1st Half 1st Half (B)-(A) (A) (B) (B)/(A) Net income before minority interests ※ 5.4 4.6 7.2 6.0 6.2 ＋0.2 +2.4% Unrealized gain on available-for- -0.2 -0.5 0.7 0.6 1.8 ＋1.2 +181.3%
Slide 25: Gross profit before write-offs and funding costs by segment
Gross profit before write-off s and funding costs by segment (¥bn) FY11 FY12 FY13 FY14 FY15 Change Change 1st Half 1st Half 1st Half 1st Half (A) 1st Half (B) (B)-(A) (B)/(A) Revenues 128.9 178.8 177.0 168.9 166.2 -2.7 -1.6% Leasing 119.2 166.6 161.4 152.0 154.0 ＋2.0 +1.3% Installment sales 5.7 7.1