Mitsubishi HC Capital : Financial Results for the 1st Quarter of Fiscal Year Ending March 31, 2023
August 10, 2022 at 02:14 am EDT
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Financial Results
for the 1st Quarter of Fiscal Year Ending March 31, 2023
Mitsubishi HC Capital Inc.
August 10, 2022
Index
Highlights
Financial Results for 1Q FYE3/2023
II. Segment Updates
Financial Forecast for FYE3/2023 IV. Appendix
1
Highlights
Gross profit increased YOY thanks to the business growth of the subsidiaries in Europe and the U.S., profit contribution from CAI, and other factors.
Gross profit for 1Q FYE3/2023 increased by 21.9 billion yen (30.8%) YOY to 93.2 billion yen thanks to the business growth mainly of the subsidiaries in Europe and the U.S. in Global Business segment, profit contribution from CAI, a U.S. marine container leasing company that became our wholly-owned subsidiary in November 2021, an increase in gain on sales related to real estate, and other factors.
Net income was almost on par with that for 1Q FYE3/2022, despite the absence of large profits on the sale of strategic shareholdings
Net income for 1Q FYE3/2023 decreased 1.1 billion yen YOY to 32.0 billion yen, which is almost on par with that for 1Q FYE3/2022, despite the absence of large profits on the sale of strategic shareholdings (pre-tax basis: 26.7 billion yen), which were recorded in 1Q FYE3/2022.
Net income has been almost in line with the plan, against the net income forecast for FYE3/2023 of 110.0 billion yen (progress: 29.1%).
2
Financial Results for 1Q FYE3/2023
3
Financial Results for 1Q FYE3/2023
The cumulative gross profit for 1Q FYE3/2023 increased by 21.9 billion yen, or 30.8% YOY to 93.2 billion yen, thanks to the business growth mainly of the subsidiaries in Europe and the U.S. in the Global Business segment, profit contribution from a U.S. marine container leasing company CAI, etc.
Quarterly net income attributable to owners of the parent was 32.0 billion yen, which is almost on par with 1Q FYE3/2022, despite the absence of large profits on the sale of strategic shareholdings (pre-tax basis: 26.7 billion yen), which were recorded in 1Q FYE3/2022. The progress against the forecast for FYE3/2023 (net income: 110.0 billion yen) was 29.1%.
(a)
(b)
(c)=(b)-(a)
(d)
(e)=(c)/(a)
1Q
1Q
YOY Change
Exchange Rates
YOY Change
(Billion Yen)
FYE3/2022
FYE3/2023
(%)
Effects*5
1
Revenues
407.7
460.3
+52.6
+10.0
+12.9%
2
Gross Profit
71.3
93.2
+21.9
+4.0
+30.8%
3
Operating Income
20.7
40.4
+19.7
+1.6
+95.2%
4
Recurring Income
20.6
41.9
+21.3
+1.3
+103.3%
5
Net Income*1
33.1*6
32.0
-1.1
+1.0
-3.4%
6
New Transactions Volume
572.8
609.2
+36.3
+32.2
+6.3%
7
Segment Assets*2
9,345.3*7
9,604.1
+258.7*8
+300.2
+2.8%*8
8
ROA*3
1.4%*9
1.2%*10
-0.2pt
9
ROE*3
11.2%*9
9.4%*10
-1.8pt
10
OHR*4
63.3%
50.4%
-12.9pt
*1
Quarterly net income attributable to owners of the parent
*9 Numerator:
Annualized net income by quadrupling the quarterly net income for 1Q FYE3/2022,
Denominator: Average of retroactively adjusted 1Q FYE3/2022 equity or total assets and
*3
Based on net income
FYE3/2021 equity or total assets (calculated by adding IFRS-based figures of
*4
SG&A expenses divided by (gross profit + non-operating income/expenses), but
Hitachi Capital (HC) to those of Mitsubishi UFJ Lease & Finance (MUL) in a
SG&A expenses and non-operating income/expenses do not include credit costs
simplified manner under J-GAAP as reference figures, then making adjustments
*5
Effects of changes in exchange rates to be applied when incorporating results of
upon the integration)
overseas subsidiaries (refer to page 28 for details)
*10 Numerator:
Annualized net income by quadrupling the quarterly net income for 1Q FYE3/2023
*6
Figures retroactively adjusted in 1Q FYE3/2023 (refer to page 22 for details)
Denominator: Average of FYE3/2022 and 1Q FYE3/2023 equity or of FYE3/2022 and 1Q
*7
FYE3/2022
FYE3/2023 total assets
*8 Change vs. end of FYE3/2022
4
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Mitsubishi HC Capital Inc. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 06:13:08 UTC.
Mitsubishi HC Capital Inc, formerly Mitsubishi UFJ Lease & Finance Co Ltd, is a Japan-based company mainly engaged in the financial business. The Company operates in two business segments. The Customer Finance segment is engaged in the finance lease and installment sale of machinery, equipment and fixtures, as well as the provision of monetary loan services and other related financial services. The Asset Finance segment is engaged in the operating lease of machinery and transportation equipment, the investment and loan businesses related to real estate, the management of securities, the finance business related to aircrafts and ships, as well as the leasing of office buildings.