Mitsubishi HC Capital : Financial Results for the 2nd Quarter of Fiscal Year Ending March 31, 2023 with script
November 14, 2022 at 10:31 pm EST
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This is Takahiro Yanai, President & CEO of Mitsubishi HC Capital. Thank you for taking the time out of your busy schedules to attend today's financial results briefing.
This briefing is held online via Webcast. Thank you for your cooperation.
Today, I will first give the overview of the "Financial Results for the 2nd Quarter of Fiscal Year Ending March 31, 2023" released earlier today, then Mr. Inoue, Senior Managing Executive Officer, Head of the Treasury & Accounting Division, will give a summary of the financial results, the performance of each segment, and so on for the same period. Afterward, we will answer any questions you may have. Let's get started.
Please look at "Highlights" on page 4 of the material.
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The upper part describes our consolidated results for 2Q FYE3/2023. Thanks to the profit contribution from CAI, a marine container leasing company in the U.S. that became our wholly-owned subsidiary in the previous fiscal year, the business growth of subsidiaries in Europe and Americas in the Global Business segment, an increase in gains on sales related to real estate business, and other factors, the net income increased by 2.6 billion yen, or 4.5% YoY to 63.1billion yen.
The lower part describes the steady progress of the net income against the financial forecast for FYE3/2023 of 110.0 billion yen, so that the progress rate against the financial forecast was 57.4% as of the end of 2Q. Despite this progress, we leave the forecast unchanged due to the growing uncertainties in the external environment, such as the possible recession mainly in Europe and the U.S.
As you may be aware, the external environment is surrounded by growing uncertainties, including the ongoing inflation driven by increasing resource prices and other factors, the raising of interest rates in order to control this inflation, and the fragmentation of supply chains. The impacts on our financial results by these changes in the external environment have not been visible yet, but we will keep a close eye on the impacts on our businesses, and manage risks appropriately.
Now, Mr. Inoue, the floor is yours.
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Mitsubishi HC Capital Inc. published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 03:30:12 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.