Mitsubishi Hc Capital Inc. · TSE:8593
Mitsubishi Hc Capital — FY2025 Earnings Presentation
51 slides from Mitsubishi Hc Capital's earnings presentation, May 15, 2026
Slide 1: FY2025 Consolidated Financial Results Presentation
FY2025 Consolidated Financial Results Presentation (for the fiscal year ended March 31, 2026) Mitsubishi HC Capital Inc. May 15, 2026
Slide 2: Legal disclaimer
Legal disclaimer ⚫ This presentation contains forward-looking statements regarding estimations, forecasts, targets, and plans in relation to the results of operations, financial conditions, and other overall management of Mitsubishi HC Capital Inc. and/or its group companies. ⚫ These forward-looking
Slide 3: Highlights
Highlights Net income, ROA and ROE FY2025 Results 7.8 8.6 8.0 Net income: ¥162.2 billion, exceeding the forecast and reaching a record ROE(%) high for the fourth consecutive year. Increased YoY even on an underlying 1.2 1.3 1.2 ROA(%) basis, excluding the impact of fiscal period changes. (see P35 fo
Slide 4: Agenda
Agenda 01｜FY2025 financial results 02｜Segment updates 03｜FY2026 financial forecast 04｜Reference information 3
Slide 5: FY2025 financial results
01｜FY2025 financial results 02｜Segment updates 03｜FY2026 financial forecast 04｜Reference information 左矢印付きの円単色塗りつぶし Back to Agenda Back to Agenda
Slide 6: FY2025 financial results
FY2025 financial results （a） （b） （c）=（b）-（a） （d）=（c）/（a） （e） Key contributing factors YoY FY2024 FY2025 Change Change Change (%) (excl. FX impact*) 1 Income gain (¥ in billions) ✓ Up YoY, driven by strong performance in Aviation and 1 Income gain 400.5 450.1 1 +49.6 +12.4% +47.4 a positive impact fr
Slide 7: Net income: FY2025 vs. FY2024
Net income: FY2025 vs. FY2024 FY2025 net income vs. the prior year*1 Key contributing factors*4 (+/-: impact on net income) (¥ in billions) Positive factors Negative factors 3 1 Income gain 2 +29.5 ✓ Aviation +¥32.1bn Higher leasing revenues driven by asset growth and high 1 +13.0 engine utilization
Slide 8: FY2025 results vs. forecast
FY2025 results vs. forecast ✓ Net income: Exceeded the forecast, as strong performance in the Specialized Businesses more than offset shortfalls in Customer Solutions and the Global Customer Business. ✓ ROA and ROE: Fell short of forecasts, as a weaker yen drove a larger-than-expected balance sheet
Slide 9: Income gain and asset-related gain/loss trends
Income gain and asset-related gain/loss trends ✓ Our business model is built on two earnings drivers—income gain and asset-related gain—both increasing steadily year over year. ✓ Income gain serves as our core earnings base, supported by asset-related gain consistently generated through asset turnov
Slide 10: Segment updates
01｜FY2025 financial results 02｜Segment updates 03｜FY2026 financial forecast 04｜Reference information 左矢印付きの円単色塗りつぶし Back to Agenda Back to Agenda
Slide 11: Segment profit: FY2025 vs. FY2024
Segment profit: FY2025 vs. FY2024 FY2025 segment profit vs. the prior year (¥ in billions) Segment profit Key contributing factors 162.2 FY2024 FY2025 YoY Customer 36.8 41.1 +4.2 【+】 Higher income gain driven by the growth in higher-yielding assets Solutions + 41.1 135.1 【+】 Lower credit costs in th
Slide 12: Customer Solutions
Customer Solutions FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Income gain: Up YoY, driven by growth in higher-yielding assets, partially offset by +0.5 the impact of the Sekisui Lease divestment. +2.7 +1.9 +3.8 -2.8 ◼ Asset-related gain (net
Slide 13: Global Customer Business (1)
Global Customer Business*1 (1) FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Income gain: Up YoY, driven by growth in Europe business. +19.1 ◼ Credit costs: Down YoY, reflecting a reduction in costs in the commercial truck -1.1 business in the
Slide 14: Global Customer Business (2)
Global Customer Business (2) Key figures Excl. FX impact Excl. FX impact (¥ in billions) FY2024 FY2025 YoY FY2025 YoY FY2024 FY2025 YoY FY2025 YoY Europe (MHCUK) China Income gain 75.9 87.8 +11.9 84.6 +8.7 Income gain 5.3 2.6 -2.7 2.6 -2.7 Credit costs 6.0 8.2 +2.2 7.9 +1.9 Credit costs 0.1 -0.1 -0.
Slide 15: Global Customer Business (3)
Global Customer Business (3) Credit costs for the Global Customer Market conditions in the transportation sector in the Americas Business (Americas) ✓ Spot rates increased from December 2025 to January 2026 due to a (¥ in billions) severe cold wave. Total: ¥29.8bn For large-lot customer in the ✓ Fue
Slide 16: Environment & Energy (1)
Environment & Energy (1) FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors +7.4 ◼ Income gain: Down YoY, reflecting a decline in the share of profit from EE, as well 4.7 +1.0 -0.2 as valuation losses on equity-method investments recorded in 2Q. +2.4
Slide 17: Environment & Energy (2)
Environment & Energy (2) MHC Group’s share of operating renewable energy capacity (MW) Trends in MHC Group’s share of renewable energy capacity End of End of Vs. end of 2.1GW* FY2024 FY2025 FY2024 Total 1,638 1,760 +121 1.7GW 1.6GW Solar power 1,102 1,217 +114 1.3GW 1.2GW 1.2GW Japan 978 1,041 +63 O
Slide 18: Aviation (1)
Aviation (1) FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Income gain: Up YoY, driven by higher leasing revenues from asset growth and +32.1 sustained high engine utilization, as well as the impact of elfc’s fiscal period change. These more th
Slide 19: Aviation (2)
Aviation (2) Owned aviation assets Number of owned aircraft*1 End of End of Vs. end of FY2024 FY2025 FY2024 Number of aircraft (JSA) 334 344 +10 Owned aircraft*1 248 247 -1 Aircraft purchased/sold 42/18 21/22 -21/+4 Aircraft to be delivered 86 97 +11 224 248 247 Average age (JSA)*2 5.0 years 5.7 yea
Slide 20: Logistics (1)
Logistics (1) FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Income gain: Up YoY, driven by higher leasing revenues from marine containers and +12.5 railcars, as well as the impact of CAI/PNW’s fiscal period changes. -1.2 -0.1 0.0 0.0 -3.6 -1.4
Slide 21: Logistics (2)
Logistics (2) Owned logistics assets Number of railcars End of End of Vs. end of FY2024 FY2025 FY2024 Marine container fleet 3,726 3,811 +84 (1,000 TEUs*1) 21,818 22,654 21,931 21,850 22,181 Marine container fleet 3,798 3,939 +140 (1,000 CEUs*2) Number of railcars 21,850 22,181 +331 End of End of En
Slide 22: Real Estate (1)
Real Estate (1) FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Asset-related gain (net)*1: Up YoY, driven by the execution of multiple large asset +2.4 +2.1 sales. +24.7 -1.1 -7.0 ◼ Credit costs: Down YoY, reflecting a decline in the general all
Slide 23: Real Estate (2)
Real Estate (2) Segment assets by region (end of FY2025) Domestic segment assets by asset type (end of FY2025) Non-U.S. Goodwill, etc. 0.3% 2.6% Commercial Other U.S. facilities 3.8% 2.4% 4.5% Other 8.3% Residences Nagoya 8.3% Metropolitan Japan ¥710.0bn （95%） Offices Area Total 36.3% 13.2% ¥750.3bn
Slide 24: Mobility
Mobility FY2025 segment profit vs. the prior year Comments (¥ in billions) Positive factors Negative factors ◼ Income gain: Up YoY, reflecting higher equity-method income in Japan, as well as +0.7 -0.1 0.0 0.0 higher overseas leasing revenues and gains on vehicle sales at lease expiration. -0.1 -0.2
Slide 25: Revision of reporting segments
Revision of reporting segments ✓ Following an organizational change effective April 1, 2026, reporting segments will be revised from 1Q FY2026 onward. Post-revision Overview (Reference) FY2025 (¥ in billions) 3 Units 6 Segments Revision① Segment profit Segment assets ✓ ASEAN within the Global Custom
Slide 26: FY2026 financial forecast
01｜FY2025 financial results 02｜Segment updates 03｜FY2026 financial forecast 04｜Reference information 左矢印付きの円単色塗りつぶし Back to Agenda Back to Agenda
Slide 27: FY2026 financial forecast
FY2026 financial forecast ✓ Net income: Forecast to be broadly flat YoY at ¥160 billion. Excluding the FY2025 fiscal period change impact (+¥22.8 billion), underlying net income is expected to increase by ¥20.6 billion YoY (+14.8%), with growth across all three units, led by a recovery in the Global
Slide 28: Impact of Middle East Instability
Impact of Middle East Instability (armed conflict between the U.S./Israel and Iran) ✓ We recognize that escalating tensions in the Middle East may significantly impact financial markets and the real economy through surging energy prices and other channels. ✓ While the impact has not been incorporate
Slide 29: Net income: FY2026 forecast vs. FY2025
Net income: FY2026 forecast vs. FY2025 FY2026 net income forecast vs. the prior year Key contributing factors (¥ in billions) Positive factors Negative factors (+/-: impact on net income) 2 3 1 Income gain 1 +13.2 +1.3 5 ✓ Customer +25.2 +1.6 （+） Increase in higher-margin businesses solutions -17.5
Slide 30: Trends in key metrics
Trends in key metrics 8.8% 9.1% 8.9% 8.6% ROE* 8.0% 8.0% 8.2% 8.0% 7.7% 7.8% 7.3% 1.3% 1.2% 1.2% 1.1% 1.1% 1.1% 1.0% 1.0% 1.0% 1.0% ROA* 0.9% 162.2 160.0 135.1 116.2 123.8 Net 101.4 99.4 95.7 88.1 87.3 income* 86.0 (¥ in billions) FY2016 FY2018 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Slide 31: Trends in dividends
Trends in dividends 57.4% 45.8% 42.9% 42.5% 41.1% 40.4% 40.8% 40.7% 30.4% 31.5% Payout ratio* 25.2% 20.7% 21.8% 18.9% 19.2% 20.0% 17.4% 15.5% 16.0% 11.1% 51.0 46.0 40.0 37.0 33.0 Annual dividend per 28.0 share*(¥) 23.5 25.0 25.5 18.0 12.3 13.0 8.0 9.5 4.2 4.6 4.8 5.0 6.0 6.5 FY2007 FY2008 FY2009 FY2
Slide 32: Reference information
01｜FY2025 financial results 02｜Segment updates 03｜FY2026 financial forecast 04｜Reference information 左矢印付きの円単色塗りつぶし Back to Agenda Back to Agenda
Slide 33: 2025 MTMP review: financial KPIs
2025 MTMP review: financial KPIs 2025 MTMP targets FY2025 results Comments Net income ¥160.0 billion ¥162.2 billion • Target achieved Financial targets • ROA and ROE both fell short of target levels for FY2025 ROA Approx. 1.5% 1.3% • A weaker-than-expected yen in FY2025 led to balance sheet expansio
Slide 34: 2025 MTMP review: non-financial KPIs
2025 MTMP review: non-financial KPIs ✓ All non-financial targets were achieved, with steady progress across all initiatives. （ Achieved, × Not achieved） KPI FY2025 Results （Scope: consolidated/standalone） ： 2025 MTMP targets Evalu- Achievements ation Level of fulfillment of a talent portfolio in lin
Slide 35: Track record of the Innovation Investment Fund
Track record of the Innovation Investment Fund Track record over three years Post-investment initiatives 1 2 3 ✓ Invested in 26 companies, with cumulative investments totaling ¥5.2 billion over the three years since launch. ✓ Focused investments on high-growth sectors, including robotics, healthcare
Slide 36: Impact of fiscal period changes at consolidated subsidiaries
Impact of fiscal period changes at consolidated subsidiaries ✓ Effective FY2025, the fiscal year-ends of elfc, CAI, and PNW, subsidiaries of the Aviation and Logistics segments, have been changed from December to March. ✓ Accordingly, the fiscal period for 1Q FY2025 was changed to the six months fro
Slide 37: Key highlights in 3Q FY2025
Key highlights in 3Q FY2025 ： Evolution and layering of business models : Frameworks to promote transformation ： Key themes across segments October 2025 ✓ Our group company, Mitsubishi HC Capital Realty established RterraM based on a joint venture agreement with Renoveru for a project management bus
Slide 38: Key highlights in 4Q FY2025
Key highlights in 4Q FY2025 ： Evolution and layering of business models : Frameworks to promote transformation ： Key themes across segments ：Other key topics January 2026 ✓ Selected projects that passed the final review in the third cohort of the in-house entrepreneurship program under Zero-Gravity
Slide 39: Segment profit (1) (by quarter)
Segment profit (1) (by quarter) FY2024 FY2025 (¥ in billions) 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q QoQ YoY Total 1 Income Gain 27.0 26.0 26.7 31.2 111.2 28.7 28.0 27.1 31.1 +4.0 0.0 115.0 2 Customer Asset-related Gain/Loss 0.7 0.2 0.6 0.5 2.2 1.3 0.3 0.6 2.6 +2.0 +2.1 4.9 3 Solutions Recurring Income 11.7
Slide 40: Segment profit (2) (by quarter)
Segment profit (2) (by quarter) FY2024 FY2025 (¥ in billions) 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q QoQ YoY Total 17 Income Gain 8.9 9.4 9.7 9.5 37.6 20.3 9.9 10.2 9.4 -0.7 0.0 50.0 18 Asset-related Gain/Loss 2.0 1.3 0.5 0.9 4.9 3.3 0.7 1.0 -1.3 -2.3 -2.3 3.7 Logistics 19 Recurring Income 7.6 7.7 7.7 7.8 30
Slide 41: Asset-related gain/loss (by quarter)
Asset-related gain/loss (by quarter) FY2024* FY2025* (¥ in billions) 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q QoQ YoY Total 1 Customer Solutions 0.7 0.2 0.6 0.5 2.2 1.3 0.3 0.6 2.6 +2.0 +2.1 4.9 2 Gain/Loss on Sales 0.7 0.2 0.6 0.5 2.2 1.3 0.3 0.6 2.7 +2.1 +2.1 5.0 3 Impairment Losses, etc. - - - - - - - - 0.0
Slide 42: Notes by segment (excluding asset-related gain/loss)
Notes by segment (excluding asset-related gain/loss) FY2024* FY2025* 1Q: 【+】 Gains on sales of shares of subsidiaries and affiliates, etc.: approx. ¥3.0 billion 3Q: 【+】 Gains on sales of strategic shareholdings: approx. ¥3.5 billion Customer 2Q: 【-】 Large credit costs in an individual transaction: a
Slide 43: Segment assets
Segment assets (¥ in billions) End of FY2023 End of FY2024 End of FY2025 Vs. end of FY2024 1 Customer Solutions 2,966.5 3,004.5 3,132.6 +128.0 2 Percentage of total 29.1% 27.5% 26.0% -1.5pt 3 Global Customer Business 3,070.8 3,074.9 3,495.7 +420.7 4 Percentage of total 30.2% 28.1% 29.1% +1.0pt 5 Env
Slide 44: New transactions volume by segment
New transactions volume by segment (¥ in billions) FY2023 FY2024 FY2025 YoY change YoY change (%) 1 Customer Solutions 984.8 919.9 1,014.4 +94.5 +10.3% 2 Global Customer Business 1,389.6 1,379.8 1,572.1 +192.2 +13.9% 3 Europe 822.2 891.7 1,114.9 +223.2 +25.0% 4 Americas 414.7 344.0 328.6 -15.4 -4.5%
Slide 45: Credit costs by segment
Credit costs by segment (¥ in billions) FY2023 FY2024 FY2025 YoY change YoY change (%) 1 Customer Solutions 1.1 3.5 1.5 -1.9 -55.3% 2 Global Customer Business 22.7 40.0 21.0 -18.9 -47.4% 3 Europe 4.7 6.0 8.2 +2.2 +38.0% 4 Americas 16.9 29.8 11.6 -18.1 -60.9% 5 China 0.8 0.1 -0.1 -0.3 -174.1% 6 ASEAN
Slide 46: Financial performance: income statement
Financial performance: income statement (¥ in millions) FY2023 FY2024 FY2025 YoY change YoY change (%) 1 Revenues 1,950,583 2,090,808 2,215,384 +124,576 +6.0% 2 Cost of revenues 1,570,487 1,628,170 1,715,221 +87,050 +5.3% 3 Cost of funds 209,127 264,265 274,474 +10,208 +3.9% 4 Gross profit 380,095 4
Slide 47: Financial performance: balance sheet, etc.
Financial performance: balance sheet, etc. (¥ in millions) End of FY2023 End of FY2024 End of FY2025 Vs. end of FY2024 Vs. end of FY2024 (%) 1 Cash and cash equivalents 366,478 313,399 366,035 +52,635 +16.8% Net assets * 2 1,685,267 1,789,625 1,989,064 +199,439 +11.1% excl. share acquisition rights
Slide 48: Financial performance: balance sheet, etc. (continued)
Financial performance: balance sheet, etc. (continued) (¥ in millions) End of FY2023 End of FY2024 End of FY2025 Vs. end of FY2024 Vs. end of FY2024 (%) 15 Total funding 8,439,792 8,840,797 9,880,377 +1,039,579 +11.8% 16 Indirect funding 4,919,380 4,916,445 5,504,580 +588,134 +12.0% 17 Direct fundin
Slide 49: Inquiries and other information
Inquiries and other information Information published on our website 2028 MTMP Integrated Report ESG Data Book Financial Data Sheets Initiatives and data Excel documents related to ESG containing MHC’s (environment, society, historical financial data governance) Financial and non-financial 2028 MTMP
Slide 50: Now airing: a new TV commercial featuring Kento Yamazaki
Now airing: a new TV commercial featuring Kento Yamazaki Title of the The Company Empowering Your Challenges Commercial through Leasing. TV Commercial Gallery* The commercial and the behind- the-scenes video are available. * The gallery and the contents are all in Japanese and can be viewed only in
Slide 51: Back to Agenda
左矢印付きの円単色塗りつぶし Back to Agenda Back to Agenda