FY3/2020 3rd Quarter Results
(Tokyo Stock Exchange / Nagoya Stock Exchange: 8593)
February 13, 2020
Mitsubishi UFJ Lease & Finance Company Limited
Index
- FY3/2020 3rd Quarter Results
- FY3/2020 Forecasts
- Appendix
1
- FY3/2020 3rd Quarter Results
- FY3/2020 Forecasts
- Appendix
2
Financial Highlights
- Progress toward our published initial forecasts exceeded 80% thanks mainly to gains on sales related to real estate and aviation
- Cumulative consolidated income numbers for Q3 set record highs
(billion yen) | |||||||||
(b) YOY Change | (d) YOY | *4 | |||||||
(a) FY3/2020 | (e) FY3/2019 | (f) Published (g) Progress | |||||||
Change | |||||||||
3Q | (c) Exchange | 3Q | Full-year | Rate | |||||
(%) | |||||||||
Rate Effects | Forecast | ||||||||
1 | Revenues | 694.2 | +57.9 | -0.6 | +9.1% | 636.2 | 865.0 | 80.3% | |
2 | Gross Profit | 142.9 | +26.8 | -0.2 | +23.1% | 116.0 | 178.0 | 80.3% | |
3 | Operating Income | 78.8 | +20.9 | -0.1 | +36.2% | 57.8 | 87.0 | 90.6% | |
4 | Recurring Income | 80.6 | +17.1 | -0.1 | +27.0% | 63.4 | 94.0 | 85.8% | |
5 | Net Income *1 | 57.1 | +6.6 | -0.1 | +13.2% | 50.5 | 70.0 | 81.7% | |
6 | New Transactions Volume | 1,351.6 | +147.0 | -2.0 | +12.2% | 1,204.6 | |||
7 | USD Exchange Rate (*) | $1=¥109.15 | - | $1=¥109.61 | |||||
* Exchange rate applied to profit and loss statement of overseas subsidiaries ($) | |||||||||
8 | Total Operating Assets | 5,078.7 | +32.2*2 | -51.2 | +0.6%*2 | 5,046.4 *3 | |||
9 | USD Exchange Rate (**) | $1=¥107.92 | - | $1=¥111.00 | |||||
**Exchange rate applied to balance sheet of overseas subsidiaries ($)
*1 | 3Q net income attributable to owners of the parent | |
*2 | Total operating assets is change from FY3/2019 | |
*3 | FY3/2019 | 3 |
*4 | Above figures are FY3/2020 forecasts as of February 13, 2020 |
Increase/Decrease in Net Income
Attributable to Owners of the Parent
Gross | Operating | (billion yen) | ||||||||||||||||||||||||||
Profit | Expenses | Credit | ||||||||||||||||||||||||||
+26.8 | -6.1 | Extraordinary | ||||||||||||||||||||||||||
Net Income | ||||||||||||||||||||||||||||
Cost | Others | Tax | ||||||||||||||||||||||||||
-0.8 | -2.7 | Income/Loss | Expenses | Attributable to | ||||||||||||||||||||||||
-1.4 | -9.0 | Owners of the | ||||||||||||||||||||||||||
② | Parent | |||||||||||||||||||||||||||
① | ③ | ④ | ⑤ | +6.6 | ||||||||||||||||||||||||
⑥ | 57.1 | |||||||||||||||||||||||||||
50.5 | ||||||||||||||||||||||||||||
Positive Factor | Negative Factor | |||||||||||||||||||||||||||
FY3/2019 | FY3/2020 | |||||||||||||||||||||||||||
3Q | 3Q | |||||||||||||||||||||||||||
① Gross Profit | Increased earnings mainly due to gains on sales related to real estate and aviation | |||||||||||||||||||||||||||
② Operating Expenses | Fortifying the growth foundation in Domestic/Overseas Customers and priority industry | |||||||||||||||||||||||||||
domains, amongst other factors | ||||||||||||||||||||||||||||
③ Credit Cost | Increase at a slower pace than initial assumptions (number for the full term likely to be in | |||||||||||||||||||||||||||
line with initial assumptions) | ||||||||||||||||||||||||||||
④ Others | Decrease on reaction to foreign exchange gains posted in FY3/2019 Q3, smaller equity | |||||||||||||||||||||||||||
method income, amongst other factors | ||||||||||||||||||||||||||||
⑤ Extraordinary Income/Loss | Decrease on reaction to gains on sales of strategic shareholdings and shares of affiliates, | |||||||||||||||||||||||||||
amongst other factors | ||||||||||||||||||||||||||||
⑥ Tax Expenses | YOY increase on smaller impact of U.S. tax reform and higher profits |
4
Increase/Decrease in Divisional Earnings
Divisional Earnings: gross profit (prior to allocation of financial expenses) plus equity-method earnings and dividend income of each division
Environment& | Infrastructure& | Divisional | ||||||||||
Investment Consolidated | ||||||||||||
Earnings | ||||||||||||
Energy | Healthcare | |||||||||||
Real | Logistics | 0 | Adjustment | +35.8 | ||||||||
+4.3 | +0.3 | |||||||||||
Estate | 0 | |||||||||||
+4.1 | ||||||||||||
Domestic/ | Aviation | +10.5 | ||||||||||
Overseas | ||||||||||||
+9.5 | ||||||||||||
Customers | ||||||||||||
+6.7 | ||||||||||||
191.9
156.1
Positive Factor | |
FY3/2019 | FY3/2020 |
3Q | 3Q |
(billion yen) | |||
Increase/ | Main Factor | Divisions and | |
Decrease | Businesses Involved | ||
Increased earnings | Departments and | ||
subsidiaries in Japan | |||
Domestic/ | following the inclusion | ||
+6.7 | responsible for Domestic | ||
Overseas | of ENGS to | ||
Customers, and overseas | |||
Customers | consolidated accounts, | bases responsible for | |
amongst other factors | Overseas Customers | ||
Increased lease | |||
Aviation | +9.5 | revenues of aircraft | Aviation Business |
and engines and gains | Department, JSA, ELF | ||
on sales of aircraft | |||
Gains on sales of real | |||
+10.5 | estate in Japan and | Real Estate Business | |
Real Estate | overseas; Increased | Department, MULP, MURI, | |
lease and interest | DAF, Miyuki Building, others | ||
revenues, etc. | |||
Increased lease | Logistics Business | ||
Department, Ship Finance | |||
+4.1 | revenues from | ||
Logistics | Department, Mobility Service | ||
containers and freight | |||
Business Department, BIL, | |||
cars | |||
MULR, MAL, others | |||
Gains on sales of | |||
Environment | +4.3 | solar-related assets | Environment & Energy |
and increased | Business Department, MEI, | ||
& Energy | |||
revenues from | Solar Energy SPC, others | ||
electricity power sales | |||
+0.3 | Earnings growth of | Healthcare Business | |
Healthcare | Department, Japan Medical | ||
group companies | |||
Lease, others | |||
Infra- | Infrastructure Business | ||
0 | Occurrence of front- | Department, Investment | |
structure & | |||
loaded cash out | Business Department, JII, | ||
Investment | |||
invested businesses | |||
Domestic/ | Environment & | Infrastructure | Consolidated | Consolidated | |||||||
Overseas | Aviation | Real Estate | Logistics | Healthcare | |||||||
Energy | & Investment | Adjustment | Total | ||||||||
Customers | |||||||||||
1 | FY3/2020 | 66.6 | 58.3 | 36.6 | 14.9 | 9.1 | 3.6 | 2.0 | 0.5 | 191.9 | |
3Q | |||||||||||
FY3/2019 | |||||||||||
2 | 59.8 | 48.7 | 26.0 | 10.7 | 4.7 | 3.2 | 2.0 | 0.5 | 156.1 | ||
3Q | |||||||||||
5 |
New Transactions Volume
(billion yen) | ||||||
FY3/2020 | YOY Change | FY3/2019 | ||||
3Q | (%) | 3Q | ||||
1 | Leases | 663.5 | +4.7% | 633.7 | ||
2 | Finance Leases | 374.5 | -3.8% | 389.5 | ||
3 | Operating Leases | 288.9 | +18.3% | 244.1 | ||
4 | Installment Sales | 54.4 | -13.8% | 63.1 | ||
5 | Loans and Others | 633.6 | +24.8% | 507.7 | ||
6 | Factoring | 260.6 | +18.9% | 219.2 | ||
7 | Real Estate Finance | 156.4 | +116.7% | 72.2 | ||
8 | Others | 216.5 | +0.1% | 216.2 | ||
9 | Volume of All New Transactions | 1,351.6 | +12.2% | 1,204.6 | ||
10 | Domestic | 852.1 | +4.8% | 812.7 | ||
11 | Leases | 378.1 | -2.7% | 388.6 | ||
12 | Installment Sales | 54.4 | -13.8% | 63.1 | ||
13 | Loans and Others | 419.5 | +16.2% | 360.9 | ||
14 | Overseas | 499.5 | +27.5% | 391.8 | ||
15 | Customer Finance | 269.8 | +30.0% | 207.5 | ||
16 | Others | 229.6 | +24.6% | 184.3 | ||
17 | Volume of All New Transactions | 1,351.6 | +12.2% | 1,204.6 | ||
6 |
Operating Assets
(billion yen) | ||||||||||
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 | Change from | |||||
3Q | FY3/2019 (%) | |||||||||
1 | Leases | 3,040.8 | 3,272.0 | 3,269.6 | 3,473.8 | 3,505.4 | +0.9% | |||
2 | Finance Leases | 1,480.3 | 1,514.7 | 1,543.9 | 1,579.8 | 1,562.2 | -1.1% | |||
3 | Operating Leases | 1,560.4 | 1,757.2 | 1,725.7 | 1,893.9 | 1,943.1 | +2.6% | |||
4 | Installment Sales | 245.8 | 252.9 | 255.5 | 249.5 | 215.5 | -13.6% | |||
5 | Loans and Others | 1,339.7 | 1,351.6 | 1,384.0 | 1,323.1 | 1,357.7 | +2.6% | |||
6 | Total Operating Assets | 4,626.4 | 4,876.5 | 4,909.2 | 5,046.4 | 5,078.7 | +0.6% | |||
7 | Domestic | 3,147.4 | 3,208.5 | 3,260.1 | 3,134.0 | 3,128.8 | -0.2% | |||
8 | Leases | 1,814.5 | 1,855.9 | 1,852.1 | 1,902.5 | 1,897.2 | -0.3% | |||
9 | Installment Sales | 245.8 | 252.9 | 255.5 | 249.5 | 215.5 | -13.6% | |||
10 | Loans and Others | 1,086.9 | 1,099.6 | 1,152.5 | 982.0 | 1,016.0 | +3.5% | |||
11 | Overseas | 1,479.0 | 1,668.0 | 1,649.0 | 1,912.3 | 1,949.8 | +2.0% | |||
12 | Customer Finance | 226.5 | 258.1 | 310.2 | 427.6 | 429.2 | +0.4% | |||
13 | Others | 1,252.5 | 1,409.9 | 1,338.8 | 1,484.7 | 1,520.5 | +2.4% | |||
14 | Total Operating Assets | 4,626.4 | 4,876.5 | 4,909.2 | 5,046.4 | 5,078.7 | +0.6% | |||
7 |
Credit Cost
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | ||
1 | MUL | 2.6 | -2.9 | -0.0 | -1.8 |
2 | Domestic Subsidiaries | 2.3 | 0.4 | 1.5 | 0.9 |
3 | Overseas Subsidiaries | 4.5 | 2.1 | 0.9 | 2.1 |
4 | Total Net Credit Cost | 9.4 | -0.4 | 2.4 | 1.1 |
5 | Real Estate Sector | 2.9 | -0.6 | 0.7 | -1.2 |
6 | Manufacturing Sector | -0.1 | -0.1 | 0.4 | 1.3 |
7 | Transportation Sector | 3.1 | 1.6 | 0.7 | -1.0 |
8 | Others* | 3.5 | -1.3 | 0.6 | 2.0 |
9 | Total Net Credit Cost | 9.4 | -0.4 | 2.4 | 1.1 |
(billion yen) | |||
FY3/2019 | FY3/2020 | YOY | |
3Q | 3Q | Change | |
-0.2 | 0.5 | +0.8 | |
0.1 | 0.5 | +0.4 | |
2.3 | 1.9 | -0.3 | |
2.1 | 3.0 | +0.8 | |
-0.1 | -0.0 | +0.1 | |
1.0 | 0.9 | -0.1 | |
-0.7 | 0.3 | +1.0 | |
1.9 | 1.8 | -0.1 | |
2.1 | 3.0 | +0.8 | |
* Includes general credit costs calculated based on the historical rate of credit loss and ENGS credit costs | 8 |
Funding Structure
(billion yen) | |||||||||
FY3/2017 | FY3/2018 | FY3/2018 | FY3/2019 | FY3/2020 | Change from | ||||
3Q | FY3/2019 (%) | ||||||||
1 | Borrowing | 2,169.4 | 2,395.1 | 2,444.7 | 2,492.0 | 2,688.5 | +7.9% | ||
2 | Yen | 1,418.9 | 1,449.4 | 1,470.6 | 1,352.2 | 1,391.4 | +2.9% | ||
3 | Foreign Currency | 750.4 | 945.7 | 974.1 | 1,139.8 | 1,297.1 | +13.8% | ||
4 | CP (Commercial Paper) | 853.6 | 835.9 | 807.4 | 742.2 | 683.5 | -7.9% | ||
5 | Securitization | 168.8 | 137.4 | 165.8 | 145.8 | 114.2 | -21.6% | ||
6 | Corporate Bonds | 716.8 | 773.5 | 833.7 | 1,060.3 | 1,069.1 | +0.8% | ||
7 | Yen | 385.0 | 452.0 | 496.0 | 583.5 | 635.8 | +9.0% | ||
8 | Foreign Currency | 331.8 | 321.5 | 337.7 | 476.8 | 433.3 | -9.1% | ||
9 | Total Funding | 3,908.7 | 4,142.0 | 4,251.7 | 4,440.3 | 4,555.4 | +2.6% | ||
10 | Direct Funding Ratio *1 | 44.5% | 42.2% | 42.5% | 43.9% | 41.0% | -2.9P | ||
11 | Foreign Currency Funding Ratio *2 | 27.7% | 30.6% | 30.9% | 37.0% | 38.0% | +1.0P | ||
*1 | CPs, securitization and corporate bonds as a proportion of total funding | 9 |
*2 | Foreign-currency loans and CBs as a proportion of total funding |
- FY3/2020 3rd Quarter Results
- FY3/2020 Forecasts
- Appendix
10
FY3/2020 Forecasts
- Favorable progress toward our initial forecasts but earnings forecasts maintained unchanged as credit cost and asset re-evaluation likely to occur in FY3/2020 4Q
(billion yen) | ||||||||
FY3/2020 | YOY Change | YOY Change | FY3/2019 | |||||
(%) | ||||||||
1 | Revenues | 865.0 | +0.7 | +0.1% | 864.2 | |||
2 | Gross Profit | 178.0 | +19.6 | +12.4% | 158.3 | |||
3 | Operating Income | 87.0 | +6.6 | +8.2% | 80.3 | |||
4 | Recurring Income | 94.0 | +6.3 | +7.3% | 87.6 | |||
5 | Net Income Attributable | 70.0 | +1.2 | +1.7% | 68.7 | |||
to Owners of the Parent | ||||||||
6 | Dividend per Share | ¥25.00 | +¥1.50 | - | ¥23.50 | |||
7 | Payout Ratio | 31.8% | +1.4P | - | 30.4% | |||
*1 | Above figures are FY3/2020 forecasts as of February 13, 2020 | 11 | ||||||
*2 | Exchange rate for the above forecasts is set at $1 = 110 yen |
- FY3/2020 3rd Quarter Results
- FY3/2020 Forecasts
- Appendix
12
Details of New Transactions Volume
by Transaction Type
(billion yen) | |||||||
FY3/2020 | YOY Change | YOY Change | FY3/2019 | ||||
3Q | (%) | 3Q | |||||
1 | Leases | 663.5 | +29.8 | +4.7% | 633.7 | ||
2 | IT / Office Equipment | 116.9 | +8.4 | +7.8% | 108.5 | ||
3 | Industrial Machinery | 63.1 | -11.4 | -15.3% | 74.5 | ||
4 | Civil Eng. & Construction Machinery | 26.1 | -3.5 | -12.0% | 29.6 | ||
5 | Transportation Equipment | 250.1 | +45.6 | +22.3% | 204.4 | ||
6 | Medical Equipment | 39.1 | +0.0 | +0.2% | 39.0 | ||
7 | Commercial & Service Equipment | 42.9 | -11.2 | -20.8% | 54.1 | ||
8 | Others | 125.1 | +1.8 | +1.5% | 123.2 | ||
9 | Installment Sales | 54.4 | -8.6 | -13.8% | 63.1 | ||
10 | IT / Office Equipment | 1.4 | -0.4 | -23.9% | 1.9 | ||
11 | Industrial Machinery | 8.1 | +0.6 | +9.3% | 7.4 | ||
12 | Civil Eng. & Construction Machinery | 18.7 | -5.4 | -22.4% | 24.2 | ||
13 | Transportation Equipment | 2.7 | -1.0 | -28.4% | 3.8 | ||
14 | Medical Equipment | 6.8 | +0.3 | +4.7% | 6.5 | ||
15 | Commercial & Service Equipment | 7.3 | -1.7 | -19.1% | 9.0 | ||
16 | Others | 9.1 | -0.9 | -9.8% | 10.1 | ||
17 | Loans and Others | 633.6 | +125.8 | +24.8% | 507.7 | ||
18 | Factoring | 260.6 | +41.3 | +18.9% | 219.2 | ||
19 | Real Estate Finance | 156.4 | +84.2 | +116.7% | 72.2 | ||
20 | Others | 216.5 | +0.2 | +0.1% | 216.2 | ||
21 | Volume of All New Transactions | 1,351.6 | +147.0 | +12.2% | 1,204.6 |
13
Financial Performance -
Profit & Loss Statement (1)
(million yen) | |||||||
* The bottom percentage figures with P (point) | FY3/2016 3Q | FY3/2017 3Q | FY3/2018 3Q | FY3/2019 3Q | FY3/2020 3Q | ||
show year-on-year percentage change | 15/4~15/12 | 16/4~16/12 | 17/4~17/12 | 18/4~18/12 | 19/4~19/12 | ||
1 | Revenues | 610,989 | 615,141 | 644,988 | 636,260 | 694,249 | |
+11.6% | +0.7% | +4.9% | -1.4% | +9.1% | |||
2 | Leases | 497,988 | 506,582 | 526,012 | 519,371 | 557,532 | |
+12.1% | +1.7% | +3.8% | -1.3% | +7.3% | |||
3 | Installment Sales | 64,080 | 68,945 | 71,079 | 66,912 | 57,433 | |
+2.6% | +7.6% | +3.1% | -5.9% | -14.2% | |||
4 | Loans | 25,605 | 25,157 | 26,205 | 21,499 | 30,242 | |
+1.4% | -1.7% | +4.2% | -18.0% | +40.7% | |||
5 | Others * | 23,315 | 14,455 | 21,691 | 28,477 | 49,041 | |
+49.9% | -38.0% | +50.1% | +31.3% | +72.2% | |||
6 | Cost of Revenue | 486,110 | 502,946 | 525,735 | 520,166 | 551,300 | |
+8.2% | +3.5% | +4.5% | -1.1% | +6.0% | |||
7 | COR / Revenues | 79.6% | 81.8% | 81.5% | 81.8% | 79.4% | |
(Cost of goods sold ratio) | -2.5P | +2.2P | -0.3P | +0.3P | -2.4P | ||
8 | Leases, COR | 391,398 | 405,319 | 418,136 | 407,856 | 425,975 | |
+7.3% | +3.6% | +3.2% | -2.5% | +4.4% | |||
9 | Installment Sales, COR | 59,003 | 64,126 | 66,248 | 62,314 | 53,289 | |
+3.3% | +8.7% | +3.3% | -5.9% | -14.5% | |||
10 | Financial Expenses | 28,839 | 26,021 | 31,857 | 34,989 | 44,309 | |
+48.2% | -9.8% | +22.4% | +9.8% | +26.6% | |||
11 | Others, COR * | 6,868 | 7,479 | 9,491 | 15,006 | 27,725 | |
-14.3% | +8.9% | +26.9% | +58.1% | +84.8% | |||
12 | Gross Profit | 124,879 | 112,194 | 119,253 | 116,093 | 142,948 | |
+27.3% | -10.2% | +6.3% | -2.6% | +23.1% | |||
13 | Gross Profit/Revenues | 20.4% | 18.2% | 18.5% | 18.2% | 20.6% | |
(Gross profit margin) | +2.5P | -2.2P | +0.3P | -0.3P | +2.4P | ||
* Includes purchase and sales of used machinery, dividends from real estate investment and | 14 |
sales of electricity sales | |
Financial Performance -
Profit & Loss Statement (2)
(million yen) | |||||||
* The bottom percentage figures with P (point) | FY3/2016 3Q | FY3/2017 3Q | FY3/2018 3Q | FY3/2019 3Q | FY3/2020 3Q | ||
show year-on-year percentage change | 15/4~15/12 | 16/4~16/12 | 17/4~17/12 | 18/4~18/12 | 19/4~19/12 | ||
14 | SG&A Expenses | 56,413 | 50,960 | 55,379 | 58,206 | 64,094 | |
+26.5% | -9.7% | +8.7% | +5.1% | +10.1% | |||
15 | Personnel Expenses | 24,384 | 24,801 | 27,112 | 27,194 | 30,286 | |
+18.7% | +1.7% | +9.3% | +0.3% | +11.4% | |||
16 | Non-Personnel | 25,823 | 24,559 | 26,312 | 27,020 | 30,075 | |
Expenses | +12.9% | -4.9% | +7.1% | +2.7% | +11.3% | ||
17 | Allowance | 6,204 | 1,599 | 1,954 | 3,991 | 3,732 | |
+420.7% | -74.2% | +22.3% | +104.2% | -6.5% | |||
18 | Overhead Ratio | 40.2% | 44.0% | 44.8% | 46.7% | 42.2% | |
(Overhead expenses divided by GP) | -4.1P | +3.8P | +0.8P | +1.9P | -4.5P | ||
19 | Operating Income | 68,465 | 61,234 | 63,873 | 57,887 | 78,854 | |
+28.0% | -10.6% | +4.3% | -9.4% | +36.2% | |||
20 | Operating Income / Revenues | 11.2% | 10.0% | 9.9% | 9.1% | 11.4% | |
(Operating Income Margin) | +1.4P | -1.2P | -0.1P | -0.8P | +2.3P | ||
21 | Recurring Income | 71,677 | 65,598 | 68,467 | 63,496 | 80,647 | |
+29.1% | -8.5% | +4.4% | -7.3% | +27.0% | |||
22 | Extraordinary Income | 98 | 4,200 | 2,774 | 6,983 | 4,688 | |
-88.0% | +4,162.6% | -34.0% | +151.7% | -32.9% | |||
23 | Extraordinary Loss | 80 | 9 | 20 | 870 | 0 | |
+861.1% | -88.0% | +117.6% | +4,058.8% | -100.0% | |||
24 | Net Income Attributable to | 44,633 | 43,410 | 45,111 | 50,528 | 57,180 | |
Owners of the Parent | +33.7% | -2.7% | +3.9% | +12.0% | +13.2% | ||
15 |
Financial Performance - Balance Sheet (1)
* The bottom percentage figures with P (point) | (million yen) | ||||||
show year-on-year percentage change from | FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | ||
the end of the previous fiscal year | |||||||
1 | Total Equity | 642,366 | 686,378 | 731,124 | 778,582 | 793,455 | |
+3.4% | +6.9% | +6.5% | +6.5% | +1.9% | |||
2 | Total Assets | 5,121,253 | 5,388,844 | 5,552,712 | 5,790,929 | 5,891,864 | |
+1.7% | +5.2% | +3.0% | +4.3% | +1.7% | |||
3 | Operating Assets | 4,626,455 | 4,876,553 | 4,909,279 | 5,046,490 | 5,078,716 | |
+1.9% | +5.4% | +0.7% | +2.8% | +0.6% | |||
4 | Leases | 3,040,849 | 3,272,018 | 3,269,679 | 3,473,810 | 3,505,401 | |
+3.9% | +7.6% | -0.1% | +6.2% | +0.9% | |||
5 | Installment Sales | 245,882 | 252,907 | 255,553 | 249,500 | 215,571 | |
+5.1% | +2.9% | +1.0% | -2.4% | -13.6% | |||
6 | Loans | 1,241,831 | 1,245,555 | 1,233,218 | 1,114,470 | 1,103,829 | |
-1.3% | +0.3% | -1.0% | -9.6% | -1.0% | |||
7 | Others | 97,892 | 106,072 | 150,827 | 208,708 | 253,914 | |
-20.7% | +8.4% | +42.2% | +38.4% | +21.7% | |||
8 | Impaired Assets | 27,921 | 34,144 | 34,892 | 27,286 | 23,882 | |
-16.5% | +22.3% | +2.2% | -21.8% | -12.5% | |||
9 | Allowance | 16,302 | 16,365 | 15,658 | 15,103 | 14,425 | |
10 | Net Balance of | 11,618 | 17,779 | 19,234 | 12,183 | 9,456 | |
Impaired Assets | -39.8% | +53.0% | +8.2% | -36.7% | -22.4% | ||
16 |
Financial Performance - Balance Sheet (2)
* The bottom percentage figures with P (point) | (million yen) | ||||||
show year-on-year percentage change from | FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | ||
the end of the previous fiscal year | |||||||
11 | Equity Ratio | 12.0% | 12.2% | 12.7% | 13.0% | 13.1% | |
+0.2P | +0.2P | +0.5P | +0.3P | +0.1P | |||
12 | ROE | 9.0% | 8.4% | 9.3% | 9.4% | - | |
+1.0P | -0.6P | +0.9P | +0.1P | - | |||
13 | ROA | 1.1% | 1.0% | 1.2% | 1.2% | - | |
+0.2P | -0.1P | +0.2P | +0.0P | - | |||
14 | Total Funding | 3,908,736 | 4,142,073 | 4,251,769 | 4,440,352 | 4,555,404 | |
0.0% | +6.0% | +2.6% | +4.4% | +2.6% | |||
15 | Indirect Funding | 2,169,456 | 2,395,158 | 2,444,766 | 2,492,008 | 2,688,508 | |
-2.2% | +10.4% | +2.1% | +1.9% | +7.9% | |||
16 | Direct Funding | 1,739,279 | 1,746,914 | 1,807,002 | 1,948,344 | 1,866,895 | |
+2.8% | +0.4% | +3.4% | +7.8% | -4.2% | |||
17 | CP | 853,600 | 835,900 | 807,400 | 742,200 | 683,500 | |
+2.8% | -2.1% | -3.4% | -8.1% | -7.9% | |||
18 | Securitization | 168,869 | 137,484 | 165,897 | 145,842 | 114,272 | |
(Lease Receivables) | -2.7% | -18.6% | +20.7% | -12.1% | -21.6% | ||
19 | Corporate Bonds | 716,809 | 773,530 | 833,705 | 1,060,302 | 1,069,123 | |
+4.1% | +7.9% | +7.8% | +27.2% | +0.8% | |||
20 | Direct Funding Ratio | 44.5% | 42.2% | 42.5% | 43.9% | 41.0% | |
+1.2P | -2.3P | +0.3P | +1.4P | -2.9P | |||
17 |
Overview of
Principal Consolidated Companies (1)
(million yen) | ||||||||
Mitsubishi UFJ Lease & Finance | Japan Medical Lease | DFL Lease | ||||||
FY3/2020 | MUL's Share: 100% | MUL's Share: 80% | ||||||
(Parent) | ||||||||
3Q | 【Healthcare Business Division】 | 【Domestic Customers】 | ||||||
Amount | YOY Change | Amount | YOY Change | Amount | YOY Change | |||
Revenues | 354,153 | +1.6% | 27,659 | -0.1% | 16,830 | +2.6% | ||
Gross Profit | 49,806 | +3.4% | 2,289 | +0.9% | 1,459 | +10.5% | ||
Operating Income | 21,710 | +14.3% | 628 | -24.5% | 738 | +34.9% | ||
Recurring Income | 21,562 | -2.0% | 674 | -26.0% | 750 | +19.4% | ||
Net Income | 17,894 | -13.8% | 433 | -26.5% | 508 | +14.7% | ||
FY3/2020 | Amount | Change from | Amount | Change from | Amount | Change from | ||
3Q | FY3/2019 | FY3/2019 | FY3/2019 | |||||
Operating Assets | 3,041,723 | -1.9% | 103,419 | +2.8% | 64,033 | -4.8% | ||
Total Assets | 4,188,210 | -1.1% | 106,174 | +3.0% | 65,762 | -4.6% | ||
Total Equity | 498,686 | +0.3% | 15,458 | +1.5% | 15,151 | +3.5% | ||
(million yen) | ||||||||
Hirogin Lease | Shutoken Leasing | DRS | ||||||
FY3/2020 | MUL's Share:80% | MUL's Share: 71% | MUL's Share: 100% | |||||
3Q | 【Domestic Customers】 | 【Domestic Customers】 | 【Domestic Customers】 | |||||
Amount | YOY Change | Amount | YOY Change | Amount | YOY Change | |||
Revenues | 15,318 | -4.4% | 30,788 | +26.8% | 19,971 | +3.6% | ||
Gross Profit | 1,685 | -7.6% | 2,772 | -4.1% | 2,048 | +0.5% | ||
Operating Income | 699 | -21.8% | 952 | -29.1% | 686 | -3.7% | ||
Recurring Income | 729 | -27.6% | 1,093 | -22.8% | 685 | -4.3% | ||
Net Income | 498 | -30.3% | 766 | -21.8% | 469 | -4.6% | ||
FY3/2020 | Amount | Change from | Amount | Change from | Amount | Change from | ||
3Q | FY3/2019 | FY3/2019 | FY3/2019 | |||||
Operating Assets | 69,749 | +3.1% | 149,382 | -1.4% | 62,250 | +19.7% | ||
Total Assets | 72,722 | +3.7% | 155,244 | -2.1% | 66,242 | +21.1% | ||
Total Equity | 14,679 | +3.5% | 19,610 | +3.9% | 7,627 | +3.8% | ||
18 |
Overview of
Principal Consolidated Companies (2)
(million yen)
FY3/2020
3Q
Revenues
Gross Profit
Operating Income
Recurring Income
Net Income
Diamond Asset Finance | Miyuki Building | MUL Property | |||
MUL's Share: 100% | MUL's Share: 98% | MUL's Share: 100% | |||
【Real Estate Business Division】 | 【Real Estate Business Division】 | 【Real Estate Business Division】 | |||
Amount | YOY Change | Amount | YOY Change | Amount | YOY Change |
10,325 | +49.9% | 9,709 | +70.3% | 25,108 | +41.8% |
4,409 | +22.9% | 4,495 | +39.4% | 4,999 | +28.6% |
3,146 | +38.6% | 3,965 | +42.1% | 3,912 | +34.9% |
3,252 | +37.8% | 3,859 | +49.1% | 3,931 | +33.8% |
2,258 | +38.4% | 2,530 | +48.8% | 2,727 | +34.7% |
FY3/2020 | Amount | Change from | Amount | Change from | Amount | Change from | ||
3Q | FY3/2019 | FY3/2019 | FY3/2019 | |||||
Operating Assets | 248,259 | +6.1% | 71,947 | +5.9% | 178,800 | +21.0% | ||
Total Assets | 250,446 | +6.0% | 74,158 | +5.5% | 242,989 | +14.4% | ||
Total Equity | 36,165 | +4.9% | 32,735 | +8.2% | 17,947 | +12.1% |
19
Status on Business Initiatives (1)
◆Outstanding Balance of Solar Projects | (billion yen) | ||||
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | |
Total | 41.9 | 76.8 | 117.4 | 125.6 | 138.1 |
Equity | 16.1 | 39.5 | 67.9 | 80.1 | 86.1 |
Debt | 25.8 | 37.3 | 49.5 | 45.5 | 52.0 |
(Reference) | 313MW | 393MW | 420MW | ||
Power Output*1 | |||||
(Reference) Lease*2 | 134.1 | 138.9 | 152.8 | 146.7 | 135.6 |
◆Outstanding Balance of Real Estate-related | (billion yen) | |||||||
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | ||||
Total (A+B) | 129.0 | 156.6 | 180.5 | 212.9 | 235.7 | |||
Japan (A)*3 | 129.0 | 156.6 | 167.1 | 178.4 | 195.5 | |||
Debt | 92.6 | 90.5 | 81.7 | 85.5 | 94.2 | |||
Equity | 36.3 | 66.1 | 85.4 | 92.9 | 101.3 | |||
Ratio*4 | 28.2% | 42.2% | 51.1% | 52.0% | 51.8% | |||
Overseas (B) | 13.4 | 34.5 | 40.2 | |||||
*1 | Total power output of project (proportioned according to the contributing interest) | |||||||
*2 | Outstanding solar-related lease as compiled by the Domestic/Overseas Customers | |||||||
*3 The sum of the domestic projects of MUL and MUL Realty Investment Company Limited (MURI) | 20 | |||||||
*4 The ratio of equity to a combined total balance of MUL and MURI |
Status on Business Initiatives (2)
◆Outstanding Balance of Global Assets Operating Assets | (billion yen) | |||||||
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | ||||
Total | 1,252.5 | 1,409.9 | 1,338.8 | 1,463.6 | 1,496.4 | |||
Aviation | 858.0 | 996.4 | 938.9 | 1,035.4 | 1,044.6 | |||
Aircraft | 650.3 | 772.7 | 720.4 | 791.5 | 806.3 | |||
Engines | 207.6 | 223.6 | 218.5 | 243.9 | 238.3 | |||
Logistics | 394.5 | 413.4 | 399.8 | 428.2 | 451.6 | |||
Marine Containers | 160.0 | 196.7 | 208.2 | 215.0 | 216.9 | |||
Railway/Freight Cars | 41.9 | 46.2 | 61.1 | 92.8 | 130.2 | |||
Shipping | 192.6 | 170.5 | 130.4 | 120.2 | 104.3 | |||
◆Owned Global Asset | ||||||||
FY3/2016 | FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 3Q | ||||
Number of Aircraft | 125 | 143 | 143 | 160 | 164 | |||
Number of Aircraft Purchased *1 | 19 | 36 | 18 | 27 | 16 | |||
Number of Aircraft Sold *1 | 20 | 18 | 18 | 10 | 12 | |||
Number of Aircraft Engines | 286 | 286 | 276 | 300 | 300 | |||
Number of Railway/Freight Cars | 3,871 | 4,533 | 6,615 | 10,594 | 14,495 | |||
Marine Container Feet | 814 | 1,061 | 1,221 | 1,300 | 1,364 | |||
(TEU 1,000) *2 | ||||||||
* 1 | After consolidated adjustment (do not match with sales profits/losses for aircraft numbers recognized on the P/L) | 21 | ||||||
* 2 | TEU: Twenty Feet Equivalent Unit (converted into 20ft. containers) |
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22
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 MUL and/or its group companies (collectively, the "Group"). These forward-looking statements are inherently subject to a number of
risks and uncertainties that could cause the Group's actual results, performance, achievements, financial
position etc. to differ materially from the information expressed or implied by these forward-looking statements, which is based on assumptions and beliefs in light of information currently available to the management of MUL at the time of publication. Accordingly, due to various risks and uncertainties, the statements are not a guarantee of future performance or developments.
We may not be successful in implementing our business strategy, and management may fail to achieve its targets for a wide range of possible reasons.
The Amount less than one unit is omitted in this presentation, which may cause fraction error in the total amount. MUL undertakes no obligation to update or correct any forward-looking statements after the date of this presentation.
The information set forth in this presentation is subject to change without notice.
This presentation is not intended to solicit, offer, sell or market securities in any jurisdiction, and should not be the sole basis for making investment and other decisions.
The reader is cautioned not to place undue reliance on forward-looking statements.
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Mitsubishi UFJ Lease & Finance Co. Ltd. published this content on 13 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2020 09:05:02 UTC