Slide 1: Financial Results for FY2012 Presentation Materials
Financial Results for FY2012 Presentation Materials May 14, 2013 IBJ Leasing Co., Ltd. （TSE:8425) Inquiries: Toshiyuki Nishii, Investor Relations Division ℡:+81-3-5253-6540 Fax:+81-3-5253-6539 This document contains forecasts and other forward-looking statements that are based on information availab
Slide 2: Contents
Contents ◆ FY2012 Financial Results Highlights ・ 2 I. Business Performance Overview ・・・ 3 II. Financial Results Overview ・・・・・ 11 III. FY2013 Business Plan ・・・・・・ 16 (Appendix) ・・・・・・・・・ 20 1
Slide 3: FY2012 Financial Results Highlights
FY2012 Financial Results Highlights Steady progress on medium-term management plan and full contribution from acquisitions ― Surge in contract execution volume and steady rise in operating assets ― Strong rebound in results on improved core earnings power and lower credit costs Contract Execution
Slide 4: I. Business Performance Overview
I. Business Performance overview 3
Slide 5: Business Overview
Business Overview Contract execution volume increased on large rises in both leasing and installment sales and financing, with 2 company acquisitions boosting results ― Transactions with large companies rose ¥276.6bn YoY to ¥512.1bn Operating assets rose steadily, up ¥51.8bn to ¥1,263.1bn Contra
Slide 6: Leasing and Installment Sales ①
Leasing and Installment Sales ① 【Leasing Industry Overview】 Industry rebounded from impact of the Lehman Brothers financial crisis and the earthquake, with transaction volume rising 6.6% (industry association data) 【IBJ Leasing Overview】 Contract execution volume surged 58%; YoY increases for al
Slide 7: Leasing and Installment Sales ②
Leasing and Installment Sales ② Operating assets continued to climb after acquisitions, rising ¥26.8bn to ¥894.2bn Established a balanced portfolio across all types of equipment ― Portfolio facilitates sales expansion responsive to economic and sector demand changes Operating Assets Operating As
Slide 8: Financing ①
Financing ① Contract execution volume surged ¥242.4bn YoY to ¥431.8bn ― Sharp rise in factoring: short-term factoring by IBJL-TOSHIBA Leasing(*) (*) On February 1, 2012, IBJL-TOSHIBA Leasing was brought into the consolidated group. Operating assets rose steadily by ¥25.0bn YoY (+7.3%) ― Expanded
Slide 9: Financing ②
Financing ② Careful selection of real-estate and vessel finance projects while monitoring market trends and property features Carefully monitored risk for each type of real-estate financing amid market recovery ― Corporate risk basis: Limited new projects to stable conglomerates and major real e
Slide 10: Sales Activities (Japan)
Sales Activities (Japan) Prioritized Internal Demand Industries Distribution/Retail and Logistics Supported large, superior companies’ expansion through real-estate financing ― Teamed up with store developers to expand projects Captured solar and other energy-saving equipment investment needs as
Slide 11: Sales Activities (Overseas)
Sales Activities (Overseas) Strengthened support for customers’ overseas expansion, primarily in Asia ― Established Asia Desk; actively captured diverse financing needs in ASEAN countries ― Bolstered overseas sites and increased number of staff in sales promotion departments Steady rise in Toshi
Slide 12: II. Financial Results Overview
II. Financial Results Overview 11
Slide 13: Overview
Overview Steady rise in core earnings power, backed by stable profits of 2 acquired companies ― Gross profit before write-offs and funding costs: ¥44.3bn (+21.0%); Ordinary income before write-offs: ¥19.3bn (+12.6%) Lower credit costs due to reduced bankruptcies; general expenses rose due to 2 a
Slide 14: Profitability
Profitability Leasing and installment profits surged (+¥7.4bn YoY) Lower yield due to operating asset replacement amid continued low interest rates Gross Profit Before Write-offs and Funding Costs Yield (¥bn) Leasing and Equipment financing Financing Other 44.3 Gross profit margin before install
Slide 15: Funding
Funding Utilized CP and took advantage of low interest rates Issued corporate bonds to diversify borrowing sources (3-yr bonds; ¥10bn,0.34% coupon) Reviewed funding composition and unified Group operation led to lower CoF ratio Interest-bearing Debt Cost of Funds Ratio (¥bn) Securitized bonds
Slide 16: Credit Costs
Credit Costs Large real-estate-related credit costs posted in 1Q (¥3.2bn) New costs kept at a low level from 2Q, and actual credit costs declined ¥2.1bn YoY Actual Credit Costs (¥bn) 10 8.3 8 6 6 5.6 Elpida 3.0 3.9 4 2.2 2 3.2 Certain real estate projects 0 FY08 FY09 FY10 FY11 FY12 15
Slide 17: III. FY2013 Business Plan
Ill. FY¥2013 Business Plan 16
Slide 18: FY2013 Business Operation Policy
FY2013 Business Operation Policy 【FY2013 Positioning】 ■ Final stage of medium-term plan and year to solidify foundation for future growth 【Operation Policy】 ■ Further expand the sales foundation and enhance core earnings power by adapting to the market environment ⇒ Bolster responsiveness to custome
Slide 19: FY2013 Financial Targets
FY2013 Financial Targets ■ Operating asset target set at ¥1,300bn, greatly exceeding medium-term management plan target ― Prioritizing expansion of business foundation for sustainable growth ■ Aim to achieve net income of ¥10bn in final stage of the plan FY2013 Financial Medium-term Targets manageme
Slide 20: Full-year Forecast
Full-year Forecast 【Business Environment】 Economic conditions in Japan are improving owing to an upturn in overseas economies and the correction of yen appreciation, but the prospect of sustained recovery in the real economy remains uncertain 【Full-year Earnings Forecast】 Achieve targets under m
Slide 21: Appendix
Appendix 20
Slide 22: Company Profile
Company Profile Company name: IBJ Leasing Company, Limited Address: 1-2-6 Toranomon, Minato-ku, Tokyo 105-0001 Business: Multimodal financial services Representative: Setsu Onishi, President and CEO Establishment: December 1, 1969 Listing: Tokyo Stock Exchange, 1st Section (Code: 8425) Capital stock
Slide 23: Shareholders (as of March 31, 2013)
Shareholders (as of March 31, 2013) ○Outstanding shares: 36,849 thousand ○ Largest shareholders Shares Ratio ○Shareholders: 14,990 Shareholder held (thousand) (%) ○Shareholder Distribution The Dai-ichi Life Insurance Company, Limited 2,930 7.95 (shareholding ratio) Mizuho Trust & Banking (Nissan Mot
Slide 24: IBJ Leasing Group
IBJ Leasing Group Expansion of Market Footprint: Utilize client base held by operating companies and financial institutions IBJL-TOSHIBA Dai-ichi Leasing Nissan Leasing Leasing Main customer: Toshiba Group Main clients: Dai-ichi Life Main clients: Nissan Motor and its customers Insurance corporate c
Slide 25: Consolidated B/S (Assets)
Consolidated B/S (Assets) (¥bn) Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Change Change 2012 2013 2009 2010 2011 (B)-(A) (B)/(A) (A) (B) Current Assets 989.7 904.9 947.9 1,229.1 1,265.6 +36.5 +3.0% Cash and cash equivalents 28.0 18.5 37.7 41.3 30.5 -10.8 -26.0% Lease receivables 575.4 522.3 511.7
Slide 26: Consolidated B/S (Liabilities and Net Worth)
Consolidated B/S (Liabilities and Net Worth) (¥bn) Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Change Change 2012 2013 2009 2010 2011 (B)-(A) (B)/(A) (A) (B) Current Liabilities 649.4 701.6 705.9 900.9 979.9 +79.0 +8.8% Short-term borrowings 126.2 92.6 137.5 172.9 233.5 +60.6 +35.1% Current portion
Slide 27: Consolidated statements of income
Consolidated statements of income (¥bn) FY2008 FY2009 FY2010 FY2011 FY2012 Change Change (A) (B) (B)-(A) (B)/(A) Revenues 298.7 263.6 256.1 270.1 352.5 +82.4 +30.5% Gross profit before write-offs and funding 38.2 36.7 36.5 36.6 44.3 +7.7 +21.0% costs Funding costs 10.1 7.2 5.5 5.3 6.6 +1.3 +24.8% Gr
Slide 28: Consolidated statements of comprehensive income
Consolidated statements of comprehensive income (¥bn) FY2009 FY2010 FY2011 FY2012 Change Change (A) (B) (B)-(A) (B)/(A) Net income before minority interests 7.1 9.1 4.4 9.6 +5.2 +114.8% Unrealized gain on available-for- 1.4 -0.5 -0.0 1.6 +1.6 -% sale securities Deferred loss on derivatives under -0.
Slide 29: Gross profit before write-offs and funding costs by segment
Gross profit before write-offs and funding costs by segment (¥bn) FY2008 FY2009 FY2010 FY2011 FY2012 Change Change (A) (B) (B)-(A) (B)/(A) Revenues 298.7 263.6 256.1 270.1 352.5 +82.4 +30.5% Leasing 273.7 242.0 233.8 249.6 327.5 +77.9 +31.2% Installment sales 16.9 14.5 14.2 11.6 15.4 +3.8 +32.9% Loa