Financial Results for Q2 of the Fiscal Year Ending March 31, 2026 (FY2026)
October 30, 2025
NEC Capital Solutions Limited
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
Financial Results for Q2 of the Fiscal Year Ending March 31, 2026 (FY2026)
Financial Results for Q2 of FY2026
Highlights of Financial Results
Business Environment
Financial Summary
Revenues by Business Segment
Business Results by Business Segment
Leasing Business
Finance Business
Investment Business
Operating Asset Balances
Procuring Funds
Credit Costs
Forecasts for FY2026/3
© NEC Capital Solutions Limited 2025 2
1. Financial Results for Q2 FY2026
© NEC Capital Solutions Limited 2025 3
Highlights of Financial Results
Business Environment
Total leasing contracts in the industry overall rose 1.1% Y/Y.
We need to continue monitoring future trends in the financing environment and bankruptcies.
Results in Key Business Units
In the Leasing Business, both contracts executed and new transactions increased significantly Y/Y due to
the recording of assets for large-scale projects for government agencies and municipalities. Both contracts executed and new transactions in the finance business decreased Y/Y.
Contracts executed : 14.6% up New transactions : 25.3% up
Contracts executed : 4.0% down New transactions : 3.5% down
Business Performance
Revenue and gross profit increased Y/Y as the growth of the leasing business and other businesses. Net income rose 33.3% Y/Y due to foreign exchange valuation and non-controlling interests etc.
Business Environment
Total Leasing Contracts:
Total leasing contracts in the industry overall rose 1.1% Y/Y and rose by 3.7% Y/Y for our mainstay Information and communication equipment leasing.
Bankruptcies:
The total liabilities decreased Y/Y, but the number of bankruptcies increased Y/Y.
Y/Y change in total leasing contracts
Bankruptcies (Total liabilities/Number）
(%)
(Billions of Yen) (Number)
40
30
20
10
0
-10
-20
-30
-40
* Byquarter
Volume of leasing contracts
Information and communication equipment
22/1Q 22/2Q 22/3Q 22/4Q 23/1Q 23/2Q 23/3Q 23/4Q 24/1Q 24/2Q 24/3Q 24/4Q 25/1Q 25/2Q
2,500
2,000
1,500
1,000
500
0
22/2Q 22/3Q 22/4Q 23/1Q 23/2Q 23/3Q 23/4Q 24/1Q 24/2Q 24/3Q 24/4Q 25/1Q 25/2Q
5,000
* By quarter
Number of
bankruptcies
（Right axis）
Total liabilities
(Left axis)
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
(Source: Lease statistics of the Japan Leasing Association) (Source: Bankruptcy information on the website of Teikoku Data Bank; liabilities of companies that filed for bankruptcy)
Financial Summary
Revenues:
Revenues Increased by 7.9% Y/Y driven by the growth of the leasing business and the sale of properties
Net Income: The impact of rising funding costs was mitigated by increased revenue.
Net income rose 33.3% Y/Y due to foreign exchange valuation and non-controlling interests etc.
held for sale.
Performance measures
Main Reasons for Y/Y Increase/Decrease in Net Income
Credit costs
-0,4
4.5
-0.3 +1.1
SG&A(Exclude
credit costs)
3.4
+2.3
-0.6
Non-operating Others(Investment partnerships etc.)
Non-controlling interests
Non-operating Expenses
(Foreign exchange valuation)
Gross profit
(Before excluding funding cost)
Funding cost
-1.6
＋0.7
Net GP Increase including Fund losses :+3.0
FY2025
FY2026
Profit attributable to owners of parent
Net Income per Share (Yen
3.4
157.14
4.5 +33.3%
209.48 －
(Billions of Yen) (Billions of Yen)
2Q | 2Q | Y/Y Change | |
Revenues | 123.7 | 133.5 | +7.9% |
Operating Income | 4.7 | 4.7 | -1.5% |
Ordinary Income | 5.3 | 5.8 | +9.0% |
Operating Asset Balance | 974.9 | 1,076.6 | +10.4% | |
Net Assets | 139.2 | 146.0 | +4.9% | |
Shareholders' Equity | 117.8 | 123.1 | +4.5% | |
Equity Ratio (%) | 10.7 | 10.2 | — | |
Dividend per share (Yen) | 75 | 75 | — |
Revenues by Business Segment
Revenues by Business Segment
(Billions of Yen)
FY2025
2Q
FY2026
2Q
Y/Y Change
Leasing Business
Revenues
113.7
117.3
+3.2%
Gross Profit
8.3
9.1
+9.1%
Operating Income
2.5
3.9
+56.8%
Finance Business
Revenues
4.0
3.8
-5.0%
Gross Profit
2.7
2.1
-22.3%
Operating Income
1.9
0.5
-75.6%
Investment Business
Revenues
4.2
6.9
+64.8%
Gross Profit
2.9
2.9
+0.6%
Operating Income
1.1
1.0
-12.1%
Other Business
Revenues
2.0
5.6
+184.0%
Gross Profit
1.0
1.5
+45.2%
Operating Income
0.3
0.4
+31.5%
Total
Revenues
123.7
133.5
+7.9%
Gross Profit
14.9
15.6
+4.4%
Operating Income
4.7
4.7
-1.5%
*Excluding adjustment amount
Leasing Business
Revenue and gross profit rose steadily, while operating profit increased significantly Y/Y due to a decrease in the reversal of allowance for doubtful accounts.
Finance Business
Revenue and gross profit decreased Y/Y due to lower interest income and dividend income.
Operating profit also declined Y/Y, mainly due to allowance for doubtful accounts and smaller reversal of allowance for doubtful accounts.
Investment Business
Revenue increased thanks to loan interest income, dividend income and the sales of properties held for sale ; however, operating profit decreased Y/Y due to the one-time impact of fund operation cost.
Other Business
Revenue increased significantly Y/Y due to the sale of properties held for sale. Although SG&A expenses increased, gross profit and operating profit also grew Y/Y.
Business Results by Business Segment
Contracts Executed by Business Segment
New Transactions by Business Segment
Contracts Executed by Business Segment・New Transactions by Business Segment
Leasing business increased significantly Y/Y while finance business decreased Y/Y. Overall results increased Y/Y.
Contracts Executed by Customer Sector
In the public sector, contracts executed rose significantly Y/Y due to the consistent growth in GIGA deal acquisition.
Private sector decreased Y/Y due to a decrease in the manufacturing sector and
other sector, etc.
New Transactions by Customer Sector
New transactions rose significantly Y/Y in the public sector due to the acquisition of large-scale projects.
In the private sector, decreased Y/Y due to the decrease of the manufacturing
sector and distribution industry, etc.
(For ref.) Contracts Executed by Equipment Type
Leasing Business
Contracts Executed by Customer Sector
New Transactions by Customer Sector
Finance Business
Contracts Executed by Form of Contract
Contracts Executed by Customer Sector
Contracts Executed by Form of Contract
Although the total result declined Y/Y due to a decrease in the factoring, Business Loan sector that we are focusing on
increased significantly.
Contracts Executed by Customer Sector
The real estate sector grew significantly Y/Y, which is represents a large share of Business Loans.Manufacturing sector declined Y/Y due to a decrease of factoring.