Earnings Report (Kessan Tanshin) for the Fiscal Year Ended March 31, 2026
(J-GAAP)
May 15, 2026
Company Name: Mitsubishi HC Capital Inc.
Stock Exchange Listed on: Tokyo (Prime Market)
Company Code: 8593 URL: https://www.mitsubishi-hc-capital.com/english/ Representative: Taiju Hisai, Representative Director, President & CEO
For Inquiry: Haruhiko Sato, Director, Managing Executive Officer TEL: +81-3-6865-3002 Date of General Meeting of Shareholders: June 25, 2026
Scheduled Date of Submission of Securities Report: June 23, 2026 Scheduled Commencement of Dividend Payment: June 8 2026 Supplemental Material for Financial Results: Available
Holding of Financial Results Briefing: Yes (for Institutional Investors and Analysts)
(Amounts are rounded down to the nearest million yen)
Consolidated Results for the Fiscal Year Ended March 31, 2026
Consolidated Operating Results (Year-on-year change, %)
Revenues
Operating income
Recurring income
Net income attributable to owners of the parent
For the fiscal year ended
(Millions of yen)
%
(Millions of yen)
%
(Millions of yen)
%
(Millions of yen)
%
March 31, 2026
2,215,384
6.0
240,428
28.5
236,089
22.0
162,206
20.0
March 31, 2025
2,090,808
7.2
187,126
28.0
193,594
27.7
135,165
9.1
(Note) Comprehensive income:
For the fiscal year ended March 31, 2026:
¥261,463 million
62.8 %
For the fiscal year ended March 31, 2025:
¥160,575 million
(27.1)%
Earnings per share
Diluted
earnings per share
Return on equity
Recurring income
to total assets
Operating margin
For the fiscal year ended
March 31, 2026
(Yen)
112.98
(Yen)
112.77
%
8.6
%
1.9
%
10.9
March 31, 2025
94.19
93.98
7.8
1.7
8.9
(Reference) Share of profit of entities accounted for using equity method: For the fiscal year ended March 31, 2026: ¥2,920 million
For the fiscal year ended March 31, 2025: ¥7,199 million
Consolidated Financial Position
Total assets
Net assets
Equity ratio
Net assets per share
As of
(Millions of yen)
(Millions of yen)
%
(Yen)
March 31, 2026
13,089,557
2,008,779
15.2
1,385.22
March 31, 2025
11,762,332
1,804,523
15.2
1,246.64
(Reference) Net assets excluding share acquisition rights and non-controlling interests : As of March 31, 2026: ¥1,989,064 million
As of March 31, 2025: ¥1,789,625 million
Consolidated Cash Flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at the end of
the year
For the fiscal year ended
March 31, 2026
(Millions of yen)
(367,537)
(Millions of yen)
(33,938)
(Millions of yen)
469,373
(Millions of yen)
346,045
March 31, 2025
(296,884)
(96,977)
353,628
290,805
Dividends
Dividends per share
Total dividends (For the year)
Payout ratio
(Consolidated)
Dividends to net assets (Consolidated)
1st Quarter end
2nd Quarter end
3rd Quarter end
Fiscal
year - end
Annual
For the fiscal year
ended March 31, 2025
(Yen)
-
(Yen)
20.00
(Yen)
-
(Yen)
20.00
(Yen)
40.00
(Millions of yen)
57,515
%
42.5
%
3.3
ended March 31, 2026
-
22.00
-
24.00
46.00
66,159
40.7
3.5
ending March 31, 2027 (Forecast)
-
25.00
-
26.00
51.00
45.8
(Note) The year-end dividend for the fiscal year ended March 31, 2026 is scheduled to be resolved at the Board of Directors meeting to be held on May 20, 2026.
Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2027 (April 1, 2026 - March 31, 2027)
(Year-on-year change, %)
Net income attributable to owners of the parent | Earnings per share | ||
(Millions of yen) | % | (Yen) | |
Full year | 160,000 | (1.4) | 111.43 |
Notes
Significant changes in the scope of consolidation during the period : No
Changes in accounting policies, changes in accounting estimates, and restatement of revisions
Changes in accounting policies with revision of accounting standards, etc. : No
Changes in accounting policies other than (i) above : No
Changes in accounting estimates : No
Restatement of revisions : No
As of March 31, 2026
1,466,912,244 shares
As of March 31, 2025
1,466,912,244 shares
As of March 31, 2026
30,990,390 shares
As of March 31, 2025
31,351,197 shares
For the fiscal year ended March 31, 2026
1,435,753,307 shares
For the fiscal year ended March 31, 2025
1,434,994,023 shares
Number of outstanding shares (common shares)
Number of outstanding shares (including treasury shares)
Number of treasury shares
Average number of shares outstanding during the period
(Note) The number of treasury shares includes the Company's shares held by a trust under the performance-based stock compensation plan (2,395,564 shares as of March 31, 2026 and 2,527,676 shares as of March 31, 2025).
Also, the number of treasury shares excluded in calculating the average number of shares outstanding during the period includes the Company's shares held by a trust under the performance-based stock compensation plan (2,431,105 shares for the fiscal year ended March 31, 2026 and 2,591,249 shares for the fiscal year ended March 31, 2025).
(Reference) Summary of Non-Consolidated Results
Non-Consolidated Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 - March 31, 2026)
Non-consolidated Operating Results (Year-on-year change, %)
Revenues
Operating income
Recurring income
Net income
For the fiscal year ended
(Millions of yen)
%
(Millions of yen)
%
(Millions of yen)
%
(Millions of yen)
%
March 31, 2026
March 31, 2025
728,748
734,545
(0.8)
(2.8)
20,738
8,511
143.7
(71.0)
71,680
59,934
19.6
(18.2)
72,453
47,493
52.6
(42.6)
Earnings per share
Diluted earnings per share
For the fiscal year ended
(Yen)
(Yen)
March 31, 2026
50.46
50.37
March 31, 2025
33.10
33.02
Non-consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | |
As of | (Millions of yen) | (Millions of yen) | % | (Yen) |
March 31, 2026 | 5,045,574 | 823,011 | 16.3 | 572.29 |
March 31, 2025 | 4,989,602 | 861,780 | 17.2 | 599.36 |
(Reference) Net assets excluding share acquisition rights: As of March 31, 2026: ¥821,759 million
As of March 31, 2025: ¥860,411 million
(Reason for year-on-year change in non-consolidated results)
The year-on-year change in net income was mainly due to the absence of a valuation loss on shares of subsidiaries and affiliates that was recorded in the previous fiscal year in connection with an impairment of subsidiary. This had no impact on the consolidated results for the fiscal year ended March 31, 2026.
This "Earnings Report (Kessan Tanshin)" is outside the scope of an audit by certified public accountants or an audit firm.
Explanation regarding the appropriate use of the forecasts, etc. (Remarks on forward-looking statements)
The forward-looking statements in this report, including financial forecast, have been prepared by using information available to Mitsubishi HC Capital Inc. ("Company" or "we") on the date of release and the certain assumptions deemed reasonable by the Company, and are not intended to assure that the Company will achieve such results. Actual earnings may differ significantly from the forecasts for various reasons.
This document is written in Japanese and translated into English. The Japanese text is the original and the English text is for reference purposes. If there is any conflict or inconsistency between these two texts, the Japanese text shall prevail.
Contents
Summary of Operating Results, etc. 2
Consolidated Operating Results 2
Operating Results by Reportable Segments 5
Consolidated Financial Position 7
Future Outlook 7
Basic Policy for Selection of Accounting Standards 7
Consolidated Financial Statements and Major Notes 8
Consolidated Balance Sheets 8
Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 10
Consolidated Statements of Income 10
Consolidated Statements of Comprehensive Income 11
Consolidated Statements of Changes in Shareholders' Equity 12
Consolidated Statements of Cash Flows 14
Notes to the Consolidated Financial Statements 16
(Notes concerning going concern assumption) 16
(Additional information) 16
(Notes concerning segment information, etc.) 17
(Per share information) 21
(Significant subsequent events) 22
1
Summary of Operating Results, etc.
Consolidated Operating Results
Net income attributable to owners of the parent for the fiscal year ended March 31, 2026 increased by ¥27.0 billion, or 20.0% year on year, to ¥162.2 billion, mainly due to the following factors:
A profit increase in the Real Estate segment, driven by significant gains on sales of multiple assets which more than offset the absence of the positive impact from the sale of Miyuki Building Co., Ltd. recorded in the previous fiscal year,
Growth in the Aviation segment,
A decrease in credit costs related to the Americas business in the Global Customer Business segment,
The positive impact of fiscal period adjustment*1 associated with the change of fiscal year-end of consolidated subsidiaries, Engine Lease Finance Corporation and its subsidiaries, CAI International, Inc. and its subsidiaries, and PNW Railcars, LLC.*2 and its subsidiaries.
As a result, net income attributable to owners of the parent exceeded the forecast of ¥160.0 billion, marking a record high for the fourth consecutive year.
*1 Please refer to "3. Consolidated Financial Statements and Major Notes, (5) Notes to the Consolidated Financial Statements (Additional information) (Change of fiscal year-end of consolidated subsidiaries)" on page 16 for details of the "positive impact of fiscal period adjustment."
*2 PNW Railcars, LLC changed its company structure from PNW Railcars, Inc. on March 31, 2026.
(Billions of yen)
Fiscal year ended March 31, 2025
Fiscal year ended March 31, 2026
Change (%)
Revenues
2,090.8
2,215.3
6.0
Gross profit
462.6
500.1
8.1
Operating income
187.1
240.4
28.5
Recurring income
193.5
236.0
22.0
Net income attributable to owners of the parent
135.1
162.2
20.0
(Major topics)
April 2025 ∙ Announced the launch of a J-Credit* generation business based on the CO2 reduction project introducing solar power generation equipment which is jointly managed and operated with SANEI Co., Ltd.
* Under the J-Credit Scheme, the Japanese government certifies the amount of CO2 emissions, etc. reduced through introducing energy-saving facilities and using renewable energy and the amount of CO2, etc. absorbed through proper management of forests as "credit."
Started to provide the "Energy-saving IoT package" with Internet Initiative Japan Inc.,
a one-stop solution that provides the IoT sensors, networks, and visualization platforms necessary for the manufacturing industry's efforts to realize carbon neutrality.
Established "MHC Incubation Center Inc." to promote new business development.
May 2025 ∙ European Energy A/S, our equity-method affiliate, started to supply methanol that is produced by combining green hydrogen produced using renewable energy and biogenic CO2 (e-methanol) in Denmark.
Announced "Progress of the Medium-term Management Plan (2025 MTMP)" at the date of disclosure of the financial results for the fiscal year ended March 31, 2025.
("Medium-term Management Plan" page of the website)
URL https://www.mitsubishi-hc-capital.com/english/investors/plan.html
June 2025 ∙ Announced that Kamiosatsu Hikari Chikuden Godo Kaisha, which was established through investment by Mitsubishi HC Capital Energy Inc., our group company, Mitsubishi Estate Co., Ltd., Samsung C&T Corporation, and Osaka Gas Co., Ltd., began construction of grid-scale battery storage facilities in Chitose City, Hokkaido Prefecture.
Concluded a business alliance agreement with Industry One, Inc. (current name: MCD3 Inc.) to strengthen functions to support customers' DX and new business development.
July 2025 ∙ Concluded the "J.LEAGUE Climate Action Partner" agreement to promote climate-focused initiatives.
2