Fuyo General Lease Co., Ltd. · TSE:8424
Fuyo General Lease — 1H FY2025 Earnings Presentation
49 slides from Fuyo General Lease's earnings presentation, Nov 11, 2025
Slide 1: Financial Results Briefing for the 1st half of FY2025
Financial Results Briefing for the 1st half of FY2025 IR Presentation Fuyo General Lease Co., Ltd. Securities code: 8424 November 11,2025
Slide 2: Agenda and definitions of terms
１．Overview of consolidated operating results and business activities P3 ２．Medium-term Management Plan 「Fuyo Shared Value 2026」 P11 ３．Earnings forecast and dividend policy P36 ４． Appendix P40 Definitions of figures and terms used in this document Profit before funding ： Gross profit before deducting
Slide 3: 1H FY2025 Overview of consolidated operating results
１H FY2025 Overview of consolidated operating results 3
Slide 4: Fiscal 2025 1H consolidated operating results
Overview of consolidated operating results and business activities 1 Fiscal 2025 1H consolidated operating results ⚫ Due to the recording of a loss on renewable energy overseas in the Energy & Environment business (impact on ordinary profit: 28.6 billion yen), all categories of profit decreased (ear
Slide 5: Profit before interest expenses; ordinary profit and profit
Overview of consolidated operating results and business activities ２ Profit before interest expenses ３ Ordinary profit and profit ⚫ The inclusion of Wako Pallet into consolidation ⚫ Due to the recording of loss on renewable contributed to lease growth energy, all categories of profit decreased ⚫ The
Slide 6: Factor causing the increase in ordinary profit
Overview of consolidated operating results and business activities ４ Factor causing the increase in ordinary profit （￥100 million） 4 Impact of Excluding Loss on renewable energy Loss on renewable -31 energy +66 -38 +4 経常利益 345 -261 Ordinary 343 340 Profit Ordinary Ordinary profit Excluding -25 Loss
Slide 7: Changes in funding
Overview of consolidated operating results and business activities ５ Changes in funding ⚫ The outstanding balance grew partly due to the accumulation of operating assets ⚫ In addition to an increase in the outstanding balance due to the accumulation of operating assets, funding yields also increased
Slide 8: Changes in costs; net assets
Overview 決算概況of consolidated operating results and business activities ６ Changes in costs 7 Net assets ⚫ Personnel/equipment expenses increased due to ⚫ Slow progress in accumulation of net assets due to expansion of the Group (consolidation of Wako Pallet, renewable energy-related losses and impact
Slide 9: Newly executed contract volume
Overview of consolidated operating results and business activities ８ Newly executed contract volume ⚫ Growth in Accretive’s factoring for medical and nursing care service fee receivables ⚫ Overall lease contract volume decreased due to impacts from a decrease in number of aircraft in operation, desp
Slide 10: Operating assets, ROA
Overview of consolidated operating results and business activities 9 Operating assets, ROA ⚫ Accumulated primarily in real estate and mobility & logistics, and financing also increased ⚫ Operating leases decreased mainly due to foreign exchange impacts Change Change （¥100 million） (amount) (%) Opera
Slide 11: Medium-term Management Plan Fuyo Shared Value 2026
Medium-term Management Plan Fuyo Shared Value 2026 11
Slide 12: Overview of Fuyo Shared Value 2026
Medium-term Management Plan Overview of Fuyo Shared Value 2026 Pursuing sustainable growth as a corporate group by practicing CSV (Creating Shared Value) to resolve social issues while at the same time delivering economic value Vision for New Fuyo Shared Value 2026 Medium-term Achieving sustainable
Slide 13: Management Goals: Financial/Non-financial Goals
Management Goals Financial/Non-financial Goals • Pursue sustainable profit growth by further improving profitability and sustaining the growth we have achieved to date. • Enhance corporate value by realizing a decarbonized society and resolving other social issues Non-financial goals（excerpts） Manag
Slide 14: Financial/Non-financial Goals
Management Goals Financial/Non-financial Goals Results for Target value Item Remarks 1H FY2025 for FY2026 270,000 500,000 Results show the volume of contribution to Contribution to CO2 reduction t-CO2/year t-CO2/year the reduction up to the second quarter. The amount invested in the promotion of Sum
Slide 15: Business Domain-Specific Results and Topics
Business Domain-Specific Results and Topics 15
Slide 16: Positioning of Business Domains: Zone Management
Positioning of Business Domains Zone Management • In addition to helping our customers resolve their management issues, we contribute to creating value through projects such as jointly run businesses with our partners. • Invest our management resources in the Transformation Zone in our efforts to al
Slide 17: Business Domain-Specific Results
General Business Domain-Specific Results 1H FY2024 1H FY2025 YoY change Ordinary Operating ＊1 Ordinary Operating Ordinary Operating ROA ROA ROA （¥100 million） Profit assets profit assets Profit assets Transformation 83 - 5,990 - 174 - 6,056 -255 - +66 （Rising + Accelerating） Rising Transformation 40
Slide 18: Mobility / Logistics (1)
Rising Transformation Mobility / Logistics (1) Ongoing expansion of business domains in Japan and overseas ■ Mobility/Logistics Business Ordinary Profit, ROA, and Operating Asset balance Q2: Results （¥100 million） 1,832 Operating asset 1,462 ⚫ Ordinary profit increased due to strengthening of earnin
Slide 19: Mobility / Logistics (2)
Rising Transformation Mobility / Logistics (2) Overseas Diversification of business opportunities through strategic expansion of business domains Entry into the growing North American railcar leasing business (made Southwest Rail Industries, LLC (SRI) into an equity- method affiliate) Expansion of n
Slide 20: Mobility / Logistics (3)
Rising Transformation Mobility / Logistics (3) Japan Steady expansion of business foundations in the logistics domain Reinforcement of collaboration with Progress with marketing activities through field sales Wako Pallet and Japan Pallet Rental for logistics-related customer base (made into a consol
Slide 21: Energy & Environment (1)
Accelerating Transformation Energy & Environment (1) Restructuring of business portfolio in line with losses in overseas renewable energy businesses ■ Energy & Environment Business Ordinary Profit, ROA, and Operating Asset balance Q2: Results （¥100 million） ＊1 Operating 2,176 ⚫ Recorded temporary lo
Slide 22: Energy & Environment (2) Losses in Overseas Renewable Energy Businesses
Energy & Environment (2) Accelerating Transformation Losses in Overseas Renewable Energy Businesses Overview of matter Structural risk factors • Some renewable energy projects in which we are involved in Europe have experienced development delays due to insufficient funding • Since funds were invest
Slide 23: Energy & Environment (3) Initiatives in Japan
Accelerating Transformation Energy & Environment (3) Initiatives in Japan Energy Start of provision of DER aggregation service Energy Start of initiatives for storage battery facilities Storage Storage Projects using Tesla’s Powerwall storage batteries Projects equipped with renewable energy facilit
Slide 24: BPO/ICT (1)
Accelerating Transformation BPO/ICT（1） Promotion of strategic Group restructuring to achieve further growth ■ BPO/ICT Business Ordinary Profit, ROA, and Operating Asset balance Q2: Results （¥100 million） The ROA figures shown here are based on the results from the ICT business. ⚫ Although net profit
Slide 25: BPO/ICT (2) Restructuring of Group structure
Accelerating Transformation BPO/ICT（2） Restructuring of Group structure to reinforce sustainable growth foundations Business environment Rising outsourcing and DX needs among companies due to impacts from Replacement of human labor with AI and other digital technologies, chronic labor shortages and
Slide 26: Healthcare (1)
Accelerating Transformation Healthcare（1） Enhancement of Group earnings foundation through stronger collaboration ■Healthcare Business Ordinary Profit, ROA, and Operating Asset balance （¥100 million） Q2: Results 945 945 Operating asset ⚫ Ordinary profit increased due to expansion in basic earnings a
Slide 27: Healthcare (2)
Accelerating Transformation Healthcare（2） Acceleration of synergy through enhancement of Group collaboration Reinforcement of factoring for medical Collaboration with CB Holdings and nursing care service fee receivables (reinforce non-financing domains) (FPS Medical) ◼ Through the roll-out of indust
Slide 28: Real Estate
Growing Performance Real Estate Advancement of asset control by balancing profitability with stability ■Real Estate Business Ordinary Profit, ROA, and Operating Asset （¥100 million） Q2: Results balance ⚫ Continued with asset control with a focus on profitability and portfolio balance Operating asset
Slide 29: Aircraft
Growing Performance Aircraft Improvement in profit levels through promotion of turnover-type business ■Aircraft Business Ordinary Profit, ROA, and Operating Asset balance Operating asset 3,954 Q2: Results （¥100 million） balance 3,584 Ordinary profit 68 ⚫ Ordinary profit increased due to profit from
Slide 30: New initiatives in Japan: Carbon Credits
Incubation Carbon Credits New initiatives in Japan Promotion and expansion of JCM credits using Alternate Wetting and Drying technology ◼ Eight companies, including Fuyo Lease, have formed the Paddy Field JCM Consortium, which aims to promote and expand paddy-field-based credits based on the Joint C
Slide 31: Towards Sustainable Value Creation
Towards Sustainable Value Creation 31
Slide 32: Non-financial Goals and Business Domains
Non-financial Goals and Business Domains Non-financial Goals and Business Domains Realizing a prosperous society and contributing to sustainable growth Expanding business domains and promoting further evolution in our relentless attempt to create new value Anticipating social changes and taking on t
Slide 33: Investment in human capital
Investment in human capital Investment in Human Resources Establish the “Fuyo Shared Value Creation Center,” an ecosystem for growth and learning, while at the same time promoting an unprecedented and aggressive investment in human resources in an attempt to develop high-value-added human resources
Slide 34: Fuyo Lease Group's Decarbonization Strategy
Non-financial Goals and Business Domains Fuyo Lease Group’s Decarbonization Strategy We put the CSV approach into practice with a view to climate change as a business opportunity, which enables us to contribute to CO2 emissions reduction across various domains, while simultaneously creating revenue
Slide 35: DX Strategies (Internal and External Initiatives)
Digital Transformation DX Strategies (Internal and External Initiatives) As society's digital shift accelerates, we aim to create long-term co-creation value by adopting digital technology and continuously adapting the value we provide to society to external changes. DX strategies External initiativ
Slide 36: Earnings forecast and dividend policy
Earnings forecast and dividend policy 36
Slide 37: FY2025 consolidated earnings forecast
Earnings forecast and dividend forecast 1 FY2025 consolidated earnings forecast Revision to full-year consolidated earnings forecast as of October 23,2025 １H FY2025 FY2025 （¥100 million） results forecast Operating profit 36 340 Ordinary profit 59 380 Profit attributable to owners of parent 46 170 Ba
Slide 38: Revision to full-year consolidated earnings forecast
Earnings forecast and dividend forecast Revision to full-year consolidated earnings forecast FY2025 Revision to earnings forecast FY2025 FY2025 change change （¥100 million） Initial forecast Revised forecast (amount) (%) Operating profit 660 340 -320 -48.5% Ordinary profit 700 380 -320 -45.7% Profit
Slide 39: Changes in dividends and dividend payout ratio
Earnings forecast and dividend forecast ２ Dividend policy 1H FY2025 results ¥79 as initially forecast FY2025 forecast Annual dividend payment forecast unchanged from initial forecast of ¥158. Basic policy to return profits to shareholders through continued long-term and stable dividends remains unch
Slide 40: Appendix
Appendix 40
Slide 41: Key Topics (1)
Appendix 1 Key Topics (1) Real Estate Fuyo Lease participated in its first Build-To-Rent (BTR) development project in Brisbane, Australia Mobility/Logistics EVolity and the Fuyo Lease Group began providing support for EV introduction and operation for JAL at Narita International Airport Mobility/Log
Slide 42: Key Topics (2)
Appendix 1 Key Topics (2) Healthcare Provided funding support to Regional Medical Partners through the Tohoku Healthcare Support Fund No. 1 CB Holdings formed business partnership with The Shizuoka Bank—Started business matching for Healthcare management consulting and support for customers in the m
Slide 43: Summary of consolidated operating results
Appendix 2 Summary of consolidated operating results YoY 1H 1H 1H 1H 1H Change FY2021 FY2022 FY2023 FY2024 FY2025 (amount) （¥100 million） Net sales 2,854 3,561 3,504 3,320 3,435 +115 Cost of sales（Excluding interest expenses） 2,373 3,028 2,883 2,590 2,901 +311 Profit before interest expenses 481 533
Slide 44: Segment results (Consolidated)
Appendix 3 Segment results （Consolidated） Leases Installment sales Leases and installment sales total （¥100 million） 1H 1H YoY YoY 1H 1H YoY YoY 1H 1H YoY YoY change change change change change change FY2024 FY2025 (amount) (%) FY2024 FY2025 (amount) (%) FY2024 FY2025 (amount) (%) Net sales 2,701 2,
Slide 45: Operating assets
Appendix 4 Operating assets Change Change 1H (amount) (%) FY2021 FY2022 FY2023 FY2024 FY2025 (FY2024 to (FY2024 to （¥100 million） 1H FY2025) 1H FY2025) Leases 16,916 16,882 17,949 18,761 18,528 -233 -1.2% Finance Leases (10,198) (8,908) (8,587) (8,515) (8,482) (-32) (-0.4%) Operating Leases (6,718)
Slide 46: Newly executed contract volume
Appendix 5 Newly executed contract volume YoY YoY 1H 1H 1H 1H 1H Change Change FY2021 FY2022 FY2023 FY2024 FY2025 (amount) (%) （¥100 million） Leases 2,272 1,934 2,725 2,475 2,162 -313 -12.7% Finance leases (1,241) (1,128) (1,205) (1,501) (1,314) (-187) (-12.4%) Operating leases (1,031) (806) (1,520)
Slide 47: Newly executed lease contract volume (by type of equipment)
Appendix 6 Newly executed lease contract volume (by type of equipment) YoY 1H 1H 1H Change FY2023 FY2024 FY2025 (amount) （¥100 million） IT & office equipment 649 669 616 -53 Industrial machinery 77 77 63 -13 Civil engineering and construction machinery 13 6 10 +4 Transportation equipment 571 1,201 6
Slide 48: Summary of the operating results of the major subsidiaries
Appendix ７ Summary of the operating results of the major subsidiaries Sharp Finance Corporation Fuyo Auto Lease Co., Ltd. YAMATO LEASE CO., LTD. Accretive Co., Ltd. (ownership ratio: 65%) (ownership ratio: 100%) (ownership ratio: 60%) (ownership ratio: 74%) 1H 1H 1H 1H 1H 1H 1H 1H (¥100 million) YoY
Slide 49: Going Where No One Has Gone Before
“Going Where No One Has Gone Before” FUYO GENERAL LEASE CO., LTD. 49