Financial Results
for the 3rd Quarter of Fiscal Year Ending March 31, 2023
Mitsubishi HC Capital Inc.
February 10, 2023

Legal Disclaimer
 This presentation contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results ofoperations, financial conditions and other overall management of Mitsubishi HC Capital Inc. and/or its group companies.
 These forward-looking statements are inherently subject to a number of risks and uncertainties that could cause the 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 Mitsubishi HC
Capital Inc. 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.
 Amounts are rounded down in this presentation, which may cause a fractional error in total amounts. We undertake 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, or sell investments 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.
 We assume no liability for any damage resulting from the use.
 This presentation is created 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.

Definitions of Terms and Figures Used in this Presentation
 MHC: Mitsubishi HC Capital MUL: Mitsubishi UFJ Lease & Finance HC:

Hitachi Capital JSA: Jackson Square Aviation (Aircraft leasing company) ELF: Engine Lease Finance (Aircraft engine leasing company)
 CAI: CAI International (Marine container leasing company)
 BIL:

Beacon Intermodal Leasing (Marine container leasing company)

 Net Income:Net income (quarterly/annual) attributable to owners of theparent Segment Assets:“Operating assets” + “equity-method investments” +“goodwill” + “investment securities, etc.”* Segment Assets for FYE3/2022:
Converted into reportable segments after theorganizational change conducted on April 1, 2022 in a
simplified manner as reference values

1IndexI.

Highlights

II.

Financial Results for 3Q FYE3/2023

III. Segment Updates
IV. Financial Forecast for FYE3/2023

V. Appendix

2

I.

Highlights

3

Highlights
Net income increased by 13.4% YoY mainly thanks to the profit contribution from CAI
and a decrease in credit costs.


Net income for 3Q FYE3/2023 increased by 10.1 billion yen (13.4%) YoY to 85.9 billion yen thanks to the
profit contribution from CAI, a marine container leasing company in the U.S.A. that became our whollyowned subsidiary in November 2021, a decrease in credit costs including the Aviation segment, and thebusiness growth of the subsidiaries mainly in Americas in the Global Business segment.

The progress against the financial forecast of 110.0 billion yen in net income was 78.1%.

We have been promoting reorganization of domestic and overseas business branches/group companies and “Business Portfolio Transformation”.


Since the business integration in April 2021, we have been promoting reorganization of domestic andoverseas business branches/group companies to enhance our competitiveness through effective
utilization of management resources and integrating our know-how.



As part of “Business Portfolio Transformation”, we have resolved to conduct a transfer of the shares of
Diamond Asset Finance, which mainly operates residential real estate-related finance. (Scheduled totransfer in March 2023)

The new Medium-term Management Plan is scheduled to be started from FYE3/2024.

4II. Financial Results for 3Q FYE3/2023

5

Financial Results for 3Q FYE3/2023
 Gross profit for 3Q FYE3/2023 increased by 25.4 billion yen, or 10.6% YoY, to 264.6 billion yen, thanks to the profit contribution from CAI,
a marine container leasing company in the U.S.A., and other factors. Net income increased by 10.1 billion yen, or 13.4%, YoY to 85.9
billion yen, thanks to a decrease in credit costs and other factors, despite the absence of large gains on sales of strategic shareholdings(pre-tax basis: 26.7 billion yen) which were recorded as extraordinary income in FYE3/2022.
 The progress against the financial forecast for FYE3/2023 (net income: 110.0 billion yen) was 78.1%.

(Billion Yen)

(a)

(b)

(c)=(b)-(a)(d)(e)=(c)/(a)3Q
FYE3/2022

3Q
FYE3/2023

YoY Change

Impact of Fluctuation in
Exchange Rates Applied
to P/L of Overseas
Subsidiaries*3

YoY Change
(%)

1
2
3
4
5
6

Revenues
Gross Profit
Operating Income
Recurring Income
Net Income
New Transactions Volume

1,312.9
239.2
81.6
82.2
75.7
1,803.4

1,410.4
264.6
106.3
109.6
85.9
1,959.7

+97.4
+25.4
+24.7
+27.4
+10.1
+156.3

+47.7
+16.5
+6.6
+6.9
+5.4
+170.1+7.4%+10.6%+30.3%+33.3%
13.4%
+8.7%

7

Segment Assets

9,345.3*5

9,997.8+652.4*6+723.4+7.0%*6

1.0%*7
8.4%*756.1%

1.1%*88.0%*855.8%+0.1pt-0.4pt-0.3pt

8 ROA*1
9 ROE*1
10 OHR*2<Impact of the exchange rates on net income>The impact of the exchange rates was approx.
+1.9 billion yen including exchange revaluation losses
related to Japanese Operating Lease with Call Option(JOLCO)*4 (approx. −3.5 billion yen).

*1 Based on the net income*5 FYE3/2022*6 Change vs. FYE3/2022*2 SG&A expenses divided by (gross profit + non-operating income/expenses), but
SG&A expenses and non-operating income/expenses do not include credit costs *7 Numerator: Annualized net income formulated by multiplying the net income for 3Q FYE3/2022 by 4/3*3 Calculated by difference YoY in exchange rates applied to P/L (exchange rates
Denominator: Average of 3Q FYE3/2022 equity or total assets and FYE3/2021 equity or total assets
applied to 3Q FYE3/2023 P/L minus exchange rates applied to 3Q FYE3/2022 P/L)
(calculated by adding IFRS-based figures of HC to those of MUL in a simplified manner
when incorporating the financial statements in overseas subsidiaries
under J-GAAP as reference figures, then making adjustments upon the integration)(refer to page 30 for applied exchange rates)*8 Numerator: Annualized net income formulated by multiplying the net income for 3Q FYE3/2023 by 4/3
Denominator: Average of FYE3/2022 and 3Q FYE3/2023 equity or of FYE3/2022 and 3Q FYE3/2023*4 Exchange revaluation losses generated in the accounting process in relation toforeign currency-denominated borrowings for multiple deals booked at MHC
total assets
under Japanese Operating Leases with Call Option (JOLCO) originated fordomestic corporate investors
Note: As MHC denominates financial statements in JPY, foreign currency-dominated assets
and liabilities for JOLCO are converted into JPY. However, for accounting purposes,
while assets (aircraft) use the exchange rate as of the lease start date, the liabilities(borrowing) use the exchange rate as of the final day of the fiscal period. Therefore,
exchange revaluation losses or gains (weak yen: revaluation losses, strong yen:revaluation gains) occur

6Increase/Decrease Factors in Net Income
Attributable to Owners of the Parent
(2)
+14.9

(Billion Yen)
(1)
+26.7

(5)
+4.8

−14.2
(3)

Net Income
+10.1

−22.1
(4)
85.9

75.7

3Q
FYE3/2022

Business Growth*Credit Costs

OperatingExpenses

Positive Factor

Extraordinary
Income/Loss

Others3Q
FYE3/2023

Negative Factor

3Q
FYE3/2022

3Q
FYE3/2023(1) Business Growth*

238.5

265.2

 Increased YoY thanks to the profit contribution from CAI, that became our wholly-owned subsidiary in
November 2021, the business growth of the subsidiaries mainly in Americas in the Global Business segment,
and an increase in gains on sales of assets related to real estate business, etc.

(2) Credit Costs

22.5

7.6

 Decreased YoY thanks to decreases in the credit costs for the Aviation, Global Business, and Environment,
Energy & Infrastructure segments, etc.

(3) Operating Expenses

133.7

148.0

 Increased YoY due to the consolidation of CAI, an increase in expenses associated with the promotion ofbusiness activities mainly in overseas group companies, etc.

(4) Extraordinary Income/Loss

28.7

6.6

 Decreased YoY due to the absence of the large gains on sales of strategic shareholdings which wererecorded in FYE3/2022, despite the posting of gains on revaluation of securities at a European subsidiary in
the Global Business segment.

(5) Others

35.2

30.3

 Decrease in taxes, etc.

(Billion Yen)

Major Factors for Changes in Net Income(Note) (1) to (4) use a pre-tax basis. Taxes are included in (5)* Gross profit + Non-operating income/expenses(however, non-operating income/expenses do not include gains on bad debts recovered)7

III. Segment Updates

8Increase/Decrease in Segment Profit and Assets
Segment Profit−1.2(Billion Yen)
3Q FYE3/2022
Total：75.7

28.7

36.0

2.3

6.3

2.8

1.1

−0.3

3Q FYE3/2023
Total：85.9

Customer Solutions

28.8

Global Business

Environment, Energy & Infrastructure

Segment Profit(Billion Yen)

3Q
3Q
FYE3/2022 FYE3/2023

26.9

Aviation

0.0 7.8

Logistics

3.3

8.2

Real Estate

12.3

Mobility−1.6

Adjustments

Segment Assets
YoY

FYE3/2022*1

3Q
FYE3/2023

Changefrom
FYE3/2022

Customer Solutions

28.7

28.8

0.0

3,337.6

3,217.4-120.1

Global Business

36.0

26.9

-9.0

2,316.3

2,588.9+272.5

Environment, Energy& Infrastructure

-1.2

8.2

+9.5

417.9

428.8

+10.9

Aviation

2.3

0.0

-2.2

1,365.1

1,760.6+395.5

Logistics

-0.3

12.3

+12.6

1,026.7

1,187.9+161.1

Real Estate

6.3

7.8

+1.5

712.7

651.8

-60.8

Mobility

2.8

3.3

+0.4

129.4

129.3

-0.1

Major Factors for Changes in Segment Profit

Remained flat due to a reactionary fall in multiple sales by cancellation of certain large
deals recorded in FYE3/2022, despite posting of large gains on sales, etc.
Decreased due to the absence of gains on sales of strategic shareholdings recorded in
FYE3/2022, etc., despite business growth in Americas.
Increased thanks to increases in profits from overseas renewable energy-related equitymethod investments, a decrease in credit costs, etc.
Decreased due to an increase in exchange revaluation losses related to JOLCO *2, an
impairment loss, etc., despite the recovery trend of the business.
Increased thanks to the profit contribution from CAI, a marine container leasing
company in the U.S.A. that became our wholly-owned subsidiary in November 2021, etc.
Increased thanks to an increase in gains on sales of assets and other factors, while
credit costs were posted for a certain project in the U.S.A.
Increased thanks to an increase in gains on sales of vehicles for which the leasing term
matured, etc., against a backdrop of the strong used car market in Japan.
-

1.1
-1.6
-2.8
32.8
-6.5
Adjustments
39.3
75.7
85.9
+10.1
9,997.8+652.4
Total
9,345.3*1 Converted into reportable segments after the organizational change conducted on April 1, 2022 in a simplified manner as reference values*2 Exchange revaluation losses generated in the accounting process in relation to foreign currency-denominated borrowings
for multiple deals booked at MHC under Japanese Operating Leases with Call Option (JOLCO) originated for domestic
corporate investors (refer to the footnote 4 on page 6 for details)

9Focused Business Domains

Customer Solutions

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
3Q
FYE3/2022*1

3Q
FYE3/2023

87.8

87.2

-0.5

Segment Profit

28.7

28.8

0.0

New Transactions Volume

668.0

679.6

+11.6

Customer Finance*3

544.3

559.5

+15.2

Vendor Solution

123.7

120.1

-3.5

3,337.6

3,217.4-120.12,819.6

2,706.9-112.7

518.0

510.5

-7.4

Customer Finance*3
Vendor Solution

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

Segment Assets

Sales
Finance*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022*3 Strategic shareholdings, purchasing and sale of used products, etc. are included

Segment profit remained flat YoY due to a reactionary fallin multiple sales by cancellation of certain large deals
recorded in FYE3/2022, etc., despite the large gains onsales related to real estate leasing, non-operating income(insurance claim income) posted for a certain deal, etc.



New transactions volume increased YOY thanks to thelarge transactions on real estate leasing, etc.

Segment assets decreased compared to FYE3/2022 dueto the impact of a decrease in new transactions volume
that was closed in FYE3/2022, etc.

Segment Assets of Customer Solutions by Transaction Type
(3Q FYE3/2023)
Others5.7%
Installment/Loans
14.7%

Total
3,217.4
Billion Yen

Leasing
79.6%

10

Focused Business Domains

Global BusinessSocialEnvironment
Infrastructure& Energy& LifeMajor Figures*1 (Billion Yen)
3Q
FYE3/2022*2

3Q
FYE3/2023



81.0

92.0

+11.0

Segment Profit

36.0

26.9

-9.0

Europe

13.1

17.7

+4.5

Americas

5.1

9.4

+4.2

China

-1.4

-0.4

+1.0

ASEAN

1.0

1.9

+0.8

Others

18.1

-1.7

-19.8

813.7

989.3

+175.6

Europe

464.7

547.1

+82.3

Americas

220.5

304.8

+84.2

China

74.3

54.1

-20.1

ASEAN

54.0

83.2

+29.1

Others---2,316.3

2,588.9+272.5

Europe1,157.2

1,246.5+89.3

Americas

718.7

925.1

+206.4

China

221.7

180.8

-40.8

ASEAN

213.8

234.5

+20.7

Others

4.8

1.7

-3.0

Segment Assets

Mobility

GlobalAssetsComments
YoY*3

Gross Profit

New Transactions Volume

Sales
FinanceGross profit increased YoY thanks to the business growthof the subsidiaries mainly in Americas.
Segment profit decreased YoY due to the posting of theloss from revaluation of strategic shareholdings, theabsence of large gains on sales of strategic shareholdings
which were recorded in FYE3/2022, etc., despite factors
contributing to profit increase such as a decrease in credit
costs and posting of gains on revaluation of securities at a
European subsidiary.
Segment assets increased compared to FYE3/2022 thanks
to an increase in new transactions volume in Europe andAmericas, the impact of the exchange rates, etc.

Segment Assets of the Global Business*1 by Region(3Q FYE3/2023)
Others
0.1%
China
7.0%

ASEAN
9.1%

Total
2,588.9
Billion Yen

Europe48.1%

Americas35.7%*1 As the figures are results for the Global Business segment, figures for overseas business in
the Aviation, Logistics, and other segments are not included*2 Segment assets figure is for FYE3/2022 (reference value)*3 Segment assets figure is vs. FYE3/2022

11

Focused Business Domains

Environment, Energy & Infrastructure
Major Figures (Billion Yen)
3Q
FYE3/2022*1

3Q
FYE3/2023

10.5

11.1

+0.6

Segment Profit

-1.2

8.2

+9.5

New Transactions Volume

32.5

28.7

-3.7

Segment Assets

417.9

428.8

+10.9

98.0

90.3

-7.7

226.4

229.9

+3.5

90.2

105.5

+15.3

3.2

3.0

-0.2

OthersGlobalAssets

Segment profit increased YoY thanks to an increase inprofits from overseas renewable energy-related equitymethod investments, sales of equity interests in certain
infrastructure projects, a decrease in credit costs, andother factors.



Segment assets increased compared to FYE3/2022
thanks to the closing of large transactions in domestic
solar power projects and overseas infrastructure-related
projects, the impact of the exchange rates, etc.

(1) Renewable Capacity
in Operation

Equity-owned Power Generation Capacity of Renewable Energy
Generation Business*3*4 (MW)FYE3/2022

3Q
FYE3/2023

Change from
FYE3/2022

1,216

1,357

+141

Solar Power*5

939

1,001

+61

Domestic*5

923

971

+48

Overseas

16

30

+13

Wind Power

273

337

+63

Domestic

190

190

0

Overseas

83

147

+63

2

18

+16

OthersMobility

Equity-owned Power Generation Capacity of Renewable Energy
Generation Business (3Q FYE3/2023)*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022

Total*5

Sales
Finance

Comments
YoY*2

Gross Profit

Finance
Environment and Energy
Business
Infrastructure BusinessSocialEnvironment
Infrastructure& Energy& LifeOthers1.4%

Wind Power
24.8%*3 Management accounting figures*4 Equity-owned power generation capacity in domestic and overseas renewable energy business. The output
corresponds to the segment assets of environment and energy business and the part of infrastructure business*5 An adjustment corresponding to the equity ownership ratio was made for a certain deal
〈Change in FYE3/2022〉
Domestic solar power: 934⇒923, Solar power total: 951⇒939, Equity-owned power total: 1,227⇒1,216(2) Including Projects underDevelopment
Others2.6%

Wind Power
29.3%

Total
1,357MW
Solar Power
73.8%

Total
1,647MW
Solar Power
68.1%

12

Focused Business Domains

Aviation

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
3Q
FYE3/2022*1

3Q
FYE3/2023



24.3

19.8

-4.5

Segment Profit

2.3

0.0

-2.2

137.1

142.4

+5.2

1,365.1

1,760.6+395.5

Aircraft Leasing (JSA)

995.1

1,305.9+310.8Engine Leasing (ELF)

299.5

389.2

+89.6

Aircraft Leasing, etc. (MHC)

70.4

65.4

-4.9

Segment Assets

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

New Transactions Volume

Sales
Finance*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022

Owned Aviation-related Assets*3*4

Segment profit decreased YoY due to an increase in
exchange revaluation losses on foreign currencydenominated borrowings in JOLCO*5, the absence ofgains on revaluation of certain receivables from bankrupt
debtors recorded in FYE3/2022, the posting of an
impairment loss, etc.
The business has been in the recovery trend with anincrease in lease revenue accompanied with the market
recovery, a decrease in credit costs, and other factors.
In our aircraft leasing business, there were no off-leaseaircraft as of the end of December 2022.

Owned Aviation-related Assets (3Q FYE3/2023)

FYE3/2022

3Q
FYE3/2023

Change from
FYE3/2022

Number of Aircraft (JSA)

191

195

+4

Number of Aircraft
Purchased

22

8

-

Number of Aircraft Sold

8

4

-

Average Age (JSA)

4.5 years

4.9 years+0.4 years

Average Leasing Term (JSA)

7.3 years

7.1 years-0.2 years

Number of Aircraft Engines
(ELF)

341

346

+5

*3 Management accounting figures*4 Figures before consolidated adjustments*5 Exchange revaluation losses generated in the accounting process in relation to foreign currencydenominated borrowings for multiple deals booked at MHC under Japanese Operating Leases with Call
Option (JOLCO) originated for domestic corporate investors(refer to the footnote 4 on page 6 for details)*6 Single-aisle aircraft mainly used for domestic and short-distance flights(A320 series by Airbus, B737 series by Boeing, etc.)(1) Aircraft Assetby Type/Region(2) Aircraft Engine
by Region

Middle East & Others
6.7%

Middle East & Others
9.1%

Others
11.3%

Total
195
Aircraft
Narrow Body*⁶
88.7%

Europe24.2%

Total Americas
38.7%
195
Aircraft

Asia/Oceania
30.4%

Europe18.7%

Total
Americas346
46.5%
Engines

Asia/Oceania
25.7%

13

Focused Business Domains

Logistics

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
3Q
FYE3/2022*1

3Q
FYE3/2023

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

4.2

24.5

+20.3

Segment Profit

-0.3

12.3

+12.6

New Transactions Volume

59.8

46.2

-13.5

1,026.7

1,187.9+161.1Marine Containers

736.5

887.4

+150.9

Railway Freight Cars

223.2

253.2

+30.0

Shipping

66.9

47.1

-19.8



Segment profit increased YoY thanks to the profit
contribution from CAI, a marine container leasing
company in the U.S.A. that became our wholly-owned
subsidiary in November 2021, the steady performance ofBIL, etc., though impairment losses on certain railway
freight car assets were posted accompanied with thedetermination of sales aiming to the replacement of theportfolio.

Segment assets increased compared to FYE3/2022
thanks to the impact of the exchange rates, etc., despite
the decline in owned fleets resulted from sales of usedmarine containers.

.

Segment Assets

Sales
Finance*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022

Owned Logistics-related Assets*3

Trend of Marine Container Fleet (TEU 1,000)*6

FYE3/2022

3Q
FYE3/2023

Change from
FYE3/2022

Marine Container Fleet(TEU 1,000*4)

3,492

Marine Container Fleet(CEU 1,000*5)

3,701

3,680

-20

Number ofRailway Freight Cars

21,81822,615

+797

3,468

-24

2,766
1,465

3,203

2,980

1,688

1,611

1,300

1,368

1,515

FYE3/2019

FYE3/2020

FYE3/2021

BIL

CAI

3,492

3,468

FYE3/2022

3Q FYE3/2023

BIL+CAI*3 Management accounting figures*6 The figures of CAI for FYE3/2019 through FYE3/2021 are pre-acquisition figures provided*4 TEU: Twenty Foot Equivalent Unit (unit equivalent to the capacity of a 20-feet long container)
for reference*5 CEU: Cost Equivalent Unit (Conversion unit for various container volumes, calculated on thebasis of 1 CEU = average historical price of a newly built 20-foot dry container)

14

Focused Business Domains

Real EstateSocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)

3Q
FYE3/2022*1

YoY*2

Segment Profit

20.1
7.8

+4.8
+1.5

New Transactions Volume

68.5

51.6

-16.9

Segment Assets

712.7
145.7
121.2
24.5
56.8
39.6
17.2

651.8
141.3
119.0
22.3
50.7
37.0
13.6

-60.8
-4.4
-2.2
-2.1
-6.1
-2.6
-3.5

193.0

165.0

-27.9

Securitization (Debt)
Domestic*3
Overseas
Securitization (Equity)
Domestic*3
Overseas
Real Estate Revitalization
Investment
Real Estate Rental
Business
Other Real Estate Finance

85.5

79.6

-5.9

231.4

215.0

-16.4

*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022*3 The amount is booked by the Real Estate Business Department

Amount of Equity Contribution for Domestic Securitization/
Real Estate Revitalization Investment*4*5 (Billion Yen)
3Q
FYE3/2023

Change from
FYE3/2022

124.2

110.7

-13.5

Domestic Securitization

33.6

28.7

-4.8

Real Estate Revitalization
Investment

90.5

81.9

-8.6

FYE3/2022
Total

Mobility

GlobalAssetsComments

3Q
FYE3/2023

15.2
6.3

Gross Profit

Sales
FinanceSegment profit increased YoY thanks to an increase ingains on sales of assets for revitalization investment andfor the rental business, etc., while credit costs were posted
for a certain project in the U.S.A.

Segment assets decreased compared to FYE3/2022
because of the sales of assets for revitalization investment
and for the rental business, etc., and other factors.

Amount of Equity Contribution for Domestic Securitization/
Real Estate Revitalization Investment*4*5 (3Q FYE3/2023)(1) By Asset Type
Residence
2.8%

Others
10.9%

Logistics
15.3%

Hotel
26.0%

Total
110.7
Billion Yen

Commercial
Facility
19.7%

Office25.3%(2) By Region
NagoyaMetropolitan
District
8.4%

Others
10.4%

Osaka
Metropolitan
District
25.2%

Total
110.7
Billion Yen
Tokyo
Metropolitan
District
56.0%*4 Management accounting figure (total of equity investment in domestic securitization/
real estate revitalization). The figure is not equal to the equity balance of segment assets
because some investees are consolidated subsidiaries and investment and capitalare offset in financial accounting*5 Relevant segment assets for domestic securitization are 39.6 billion yen for FYE3/2022
and 37.0 billion yen for 3Q FYE3/2023. Those for real estate revitalization investment are
193.0 billion yen for FYE3/2022 and 165.0 billion yen for 3Q FYE3/2023

15

Focused Business Domains

MobilitySocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
3Q
FYE3/2022*1

3Q
FYE3/2023

Sales
Finance

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

6.5

7.1

+0.5

Segment Profit

2.8

3.3

+0.4

New Transactions Volume

23.6

21.6

-2.0

Segment Assets

129.4

129.3

-0.1



Gross profit increased YoY thanks to an increase ingains on sales of vehicles for which the leasing term
matured, etc. against a backdrop of the strong used
car market in Japan.

Segment profit increased YoY thanks to an increasein gross profit and in equity-method investment gains,etc.

Segment assets remained flat YoY.

*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. FYE3/2022

Number of Operational Vehicles*3 (Unit: 1,000)
FYE3/2022
Number of Operational
Vehicles*4

358

3Q
FYE3/2023

Change from
FYE3/2022

355-2*3 Management accounting figures*4 Including the number of operational vehicles of equity-method affiliates

16IV. Financial Forecast for FYE3/2023

17

Financial Forecast for FYE3/2023
 The progress against the financial forecast for FYE3/2023 (net income: 110.0 billion yen) was 78.1%. The forecast remains unchanged.

FYE3/2022

FYE3/2023*3*4

YoY
ChangeYoY
Change (%)

1

Net Income Attributable to Ownersof the Parent (Billion Yen)

99.4

110.0

+10.5

+10.7%

2

ROA*1

1.0%

1.1%

+0.1pt

-

3

ROE*1

8.0%

8.2%

+0.2pt

-

4

OHR*2

54.6%

54.1%

-0.5pt-5

Dividend per Share (Yen)

28.00

31.00

+3.00

-

6

Payout Ratio

40.4%

40.5%

+0.1pt-*1 Based on net income*2 SG&A expenses divided by (gross profit + non-operating income/expenses), but SG&A expenses and non-operating
income/expenses do not include credit costs*3 Forecast as of February 10, 2023
*4 The assumed foreign exchange rates are $1=¥120, £1=¥158, €1=¥134

18

Dividend Forecast for FYE3/2023
 We pursue our basic policy to return profits to shareholders by paying dividends; the annual dividend per share is estimated to be 31 yen,up 3 yen YoY in line with our expected target for the payout ratio of approx. 40% during the period of the new Medium-term Management
Plan scheduled to be started from FYE3/2024.
 The interim dividend in FYE3/2023 increased by 2 yen YoY to 15 yen.
Dividend History
57.1%*2

41.1%

29.1%

30.0%

30.5%

31.4%

30.4%

31.5%

34.3%

40.4%

40.5%

Dividend is expected toincrease by 3.00 yen per share

31.0

25.3%
27.8%

25.2%
18.9%

19.2%

20.0%

21.8%

23.5

25.0

25.5

28.0

18.0
8.0

9.5

FYE3/2014

FYE3/2015

12.3

13.0

FYE3/2016

FYE3/2017

FYE3/2018

Dividend per Share (Yen)*¹

15.0

FYE3/2019

Payout Ratio*¹

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023(Forecast)

Payout Ratio (HC)*1 MUL’s results from FYE3/2014 to FYE3/2021*2 Includes special dividends (dividends of 40.0 yen per share) in FYE3/2020

19

V. Appendix

20

Major Business Topics
 We have been promoting reorganization of domestic and overseas business branches/group companies since the business integration in
April 2021.
 Additionally, we have resolved to conduct a transfer of the shares of a group company in the Real Estate segment as part of our “Business
Portfolio Transformation,” an initiative to realize “Our 10-year Vision” which is included in the Medium- to Long-term Management Direction.
Reorganization of Business Branches/Group Companies

Transfer of Shares of Diamond Asset Finance (DAF) We have been promoting reorganization of domestic
and overseas business branches/group companies toenhance our competitiveness through effective
utilization of management resources and integrating
our know-how.

 As announced on December 23, 2022, in order to concentrate resources onprioritized businesses in the Real Estate segment, and to improve profitability inthe segment, we have entered into an agreement to transfer shares of DAF
which mainly operates residential real estate-related finance.

Timeframe
2022

April:

July:

2023

January:

April:(Scheduled)

RegionDetailJapan

Integration/reorganization ofbusiness branches having similarfunctions and roles

Hong Kong

Integration of 2 group companies
located in Hong Kong

North America

Reorganization of marine
container leasing companies(CAI/BIL)

Japan

Integration of Mitsubishi HC
Capital Energy and HGE

Japan

Merger and reorganization ofJapan Infrastructure Initiative

North America

Integration of 3 companies*
located in the U.S.A.

Medium- to Long-termManagement Direction
Ⅰ “Develop” new businesses
CX(Corporate Transformation /Customer Experience)

Ⅱ Shift existing business to high value-

SX(Sustainability
Transformation)

Business
Portfolio
Transformation
DX(Digital
Transformation)

 Develop new businesses and domains
and create new revenue sources byutilizing stable cash flows and the wideranging customer base of existing
businesses.

added services
 Shift to high value-added services bymaintaining and expanding the customer
base of existing businesses and increase
returns by improving customer
experience.

Ⅲ Enhance profitability and efficiency of

existing businesses Enhance profitability and efficiency of
existing businesses that create stable
cash flows.

* Mitsubishi HC Capital America, Mitsubishi HC Capital (U.S.A.), and ENGS Commercial Finance21

Focused Business Domains and Segments
 As core pillars of sustainable growth, we have positioned “Social Infrastructure & Life”, “Environment & Energy”, “Sales
Finance”, “Mobility”, and “Global Assets” as focused business domains and advanced asset business has been developedwith 7 segments below.
 We contribute to a prosperous and sustainable future by creating social value through maximizing the potential of assets.

Focused Business Domains

Targets

Social Infrastructure &Life

Environment &Energy Target: Social infrastructure  Target: All aspects ofrelated to industrial
energy creation, energy
infrastructure/lifestyles
storage, and energy
conservation (mainly Provide value toward therenewable energy)
realization of more
prosperous lives byimplementing real estate
financing, business
operation, and social
infrastructure investment

 Develop joint business withstrategic partners in
addition to project
investment and financing

Sales Finance

Mobility

Global Assets

 Target: Assets for businessthat underpins economic
activity (e.g. industrial
machinery,
telecommunications
equipment, OA equipment) Target: Automobile Leasing
and advanced mobility
services business Target: High-added-value
assets that exhibit highliquidity and value
throughout the world

 Achieve advancements todeliver data-driven
solutions Accelerate labor-savingand streamlining throughdigitalization

 Promote diverse asset
business based on
operating Leasing

Segments

Customer Solutions
Global Business
Environment, Energy & Infrastructure

Real Estate

Mobility

Aviation

Logistics

22

New Reportable Segments (1) Along with the organizational changes effective on April 1, 2022, we have changed the reportable segments as follows from 1Q FYE3/2023.
Until FYE3/2022
Reportable Segments

From FYE3/2023

Reportable Segments(Ref.*1)
FYE3/2022 (Billion Yen)

BeforeSegment
AssetsA

Customer Business

B

Account Solution

C

Vendor Solution

D

LIFE

E

Real EstateF

Environment & Renewable
EnergyG

Aviation

H

Logistics

I

Mobility
Healthcare

K

Infrastructure &Investment

L

E*2
Global Business

J
OthersA

OthersEnvironment, Energy &Infrastructure

C

D

J

K*3

L*4

A

I*5

B
F

K

Segment
AssetsSegment
Profit3,337.6

32.7

3,217.4

28.8

2,316.3

41.2

2,588.9

26.9

417.9

2.2

428.8

8.2

AviationG

1,365.1

5.6

1,760.6

0.0

Logistics

H

1,026.7

0.8

1,187.9

12.3

Real Estate

E

712.7

12.3

651.8

7.8

129.4

3.1

129.3

3.3

39.3

1.1

32.8

-1.6

9,345.3

99.4

9,997.8

85.9

Mobility

Adjustments

Adjustments

Total

Total

*1
*2
*3
*4
*5
*6

B

Customer Solutions

Segment
Profit3Q
FYE3/2023 (Billion Yen)

H*6

FYE3/2022 results converted into new reportable segments in a simplified manner as reference values
Real estate leasing transferred from Real Estate
PFI business and corporate investment transferred from Infrastructure & Investment
Purchasing and sale of used products and trust business transferred from Others
Mobility business in Europe transferred from Mobility
Auto leasing transferred from Logistics

I

23

New Reportable Segments (2) The main services and business descriptions of, and organizations that are responsible for, the reportable segments are given below.

Reportable Segments

Main Services and Business Description

Organizations

Customer Solutions

Business Promotion Division, Corporate Business
Finance solutions for companies and government agencies, Division, Vendor Solutions Business Division, LIFE
sales finance provided through collaboration with vendors, Business Division, East Japan/Central Japan/Westreal estate leasing, and financial services
Japan Area Business Division, Machinery Business
Division, Healthcare Business Division

Global Business

Finance solutions, sales finance provided throughcollaboration with vendors in Europe, the Americas, China,
and ASEAN region

Global Business Promotion Division, Europe Division,
Americas Division, China Division, ASEAN Division

Environment, Energy &Infrastructure

Renewable energy power generation business, energysaving business, overseas infrastructure investment
business

Environment, Energy & Infrastructure Business Division

Aviation

Aircraft leasing business, aircraft engine leasing business

Aviation Business Division

Logistics

Marine container leasing business, railway freight car
leasing business

Logistics Business Division

Real Estate

Real estate securitization finance, real estate revitalization
investment business, and real estate asset managementbusiness

Real Estate Business Division

Mobility

Auto leasing business and supplementary services

Mobility Business Division24Segment Profit (by Quarter)F
Y

FYE3/2022(Billion Yen)
1 Customer Solutions

1Q

2Q

FYE3/2023

3Q

1Q

2Q

3Q

QoQ

YoY

8.3

10.0

10.3

11.2

9.3

8.1

-1.1

-2.1

24.2

5.1

6.5

10.2

13.3

3.3

-10.0

-3.2

2

Global Business

3

Environment, Energy & Infrastructure

0.8

0.2

-2.3

1.9

3.5

2.8

-0.6

+5.2

4

Aviation

-2.4

6.6

-1.8

-0.9

-1.8

2.8

+4.6

+4.6

4.6

4.5

3.1

-1.3

+4.4

5

Logistics

0.0

0.8

-1.2

6

Real Estate

1.1

2.7

2.3

2.6

2.8

2.2

-0.6

0.0

7

Mobility

0.9

0.9

0.9

1.3

1.0

0.9

0.0

0.0

8

Adjustments

0.0

0.6

0.5

0.8

-1.6

-0.8

+0.8

-1.3

9

Total Segment Profit

33.1

27.3

15.2

32.0

31.1

22.7

-8.3

+7.4

Notes (Pre-tax Basis)(Billion Yen)
1

Customer Solutions

2

Global Business

3

Environment, Energy& Infrastructure

4

Aviation

5

Logistics

6

Real Estate

3Q FYE3/2022

3Q FYE3/2023

3Q: Gains on sales of owned assets: approx. JPY2.0Bn (+)

1Q: Large gains on sales related to real estate leasing: approx. JPY2.0Bn (+)
Non-operating income in a certain deal (insurance claim income): approx. JPY1.0Bn (+)

1Q: Gains on sales of strategic shareholdings: JPY26.7Bn (+)

2Q: Gains on revaluations of the securities held by a European subsidiary as they were excluded
from the scope of application of the equity method: approx. JPY7.0Bn (+)
3Q: Losses on revaluation of strategic shareholdings: approx. JPY2.0Bn (-)
One-time IT-related expenses in Europe: approx. JPY1.0Bn (-)
Transient operating expenses in China: approx. JPY1.0Bn (-)

2Q: Market valuation losses in the infrastructure business: approx. JPY2.0Bn (-)
3Q: Credit costs relating to the infrastructure business: approx. JPY4.0Bn (-)

1Q: Increases in profit from equity-method investment in a wind power generation project inEurope: approx. JPY1.0Bn(+)
2Q: Sales of equity interest in certain projects in the infrastructure business: approx. JPY2.0Bn (+)

1Q: Expenses related to modification of terms for certain existing contracts: approx. JPY2.0Bn (-)
Exchange revaluation losses in JOLCO*: approx. JPY2.0Bn (-)

1Q: Exchange revaluation losses in JOLCO*: approx. JPY3.5Bn (-)
2Q: An impairment loss on owned aircraft: approx. JPY4.0Bn (-)
Exchange revaluation losses in JOLCO*: approx. JPY3.0Bn (-)

2Q: Gains on revaluation of certain receivables from bankrupt debtors: approx. JPY7.0Bn (+)
3Q: An impairment loss on owned aircraft: approx. JPY3.0Bn (-)

3Q: Exchange revaluation losses in JOLCO*: approx. JPY1.0Bn (-)

3Q: Expenses for the reconfiguration of railway freight car portfolio: approx. JPY2.0Bn (-)

1Q: Gains on sales of owned assets: approx. JPY1.0Bn (+)
3Q: Impairment losses on the replacement of railway freight car portfolio: approx. JPY2.0Bn (-)

2Q: Gains on sales of owned assets: approx. JPY2.0Bn (+)

1Q: Gains on sales of owned assets: approx. JPY4.0Bn (+); Large credit costs: approx. JPY2.0Bn (-)

3Q: Gains on sales of owned assets: approx. JPY2.0Bn (+)

2Q: Gains on sales of owned assets: approx. JPY3.0Bn (+)
3Q: Gains on sales of owned assets: approx. JPY2.0Bn (+)

7

Mobility

-

-

-

-

8

Adjustments

-

-

-

-

* Exchange revaluation losses generated in the accounting process in relation to foreign currency-denominatedborrowings for multiple deals booked at MHC under Japanese Operating Leases with Call Option (JOLCO)
originated for domestic corporate investors (refer to the footnote 4 on page 6 for details)

25New Transactions Volume by Segment(Billion Yen)

3Q FYE3/2022

3Q FYE3/2023

YoY Change

YoY Change (%)

1

Customer Solutions

668.0

679.6

+11.6

+1.7%

2

Global Business

813.7

989.3

+175.6+21.6%

3

Environment, Energy &Infrastructure

32.5

28.7

-3.7

-11.5%

4

Aviation

137.1

142.4

+5.2

+3.8%

5

Logistics

59.8

46.2

-13.5

-22.7%

6

Real Estate

68.5

51.6

-16.9

-24.7%

7

Mobility

23.6

21.6

-2.0

-8.6%

8

Total New Transactions
Volume1,803.4

1,959.7+156.3+8.7%

26

Credit Costs by Segment(Billion Yen)

3Q FYE3/2022

3Q FYE3/2023

YoY Change

1

Customer Solutions

0.1

-0.6

-0.7

2

Global Business

9.1

4.2

-4.9

3

Environment, Energy &Infrastructure

4.6

0.7

-3.9

4

Aviation

8.8

0.8

-8.0

5

Logistics

-0.1

0.0

+0.1

6

Real Estate

0.0

2.4

+2.5

7

Mobility

0.0

0.0

0.0

8

Adjustments

0.0

0.0

0.0

9

Total Credit Costs

22.5

7.6

-14.9

27

Financial Performance: Profit & Loss Statement
3Q FYE3/2021*

3Q FYE3/2022

3Q FYE3/2023(Million Yen)
1

Revenues

2

Cost of Revenues

3

Cost of Funds

4

Gross Profit

5

SG&A Expenses

6

Personnel Expenses

7

Non-personnel Expenses

8

Allowance

9

Operating Income

10

Recurring Income

11

Extraordinary Income

12

Extraordinary Loss13

Net Income Attributable to
Owners of the Parent

1,273,355
1,051,959
70,624
221,395
145,531
68,23958,943
18,34875,864
82,114
11,31012962,728-1,312,987+3.1%
1,073,769+2.1%
56,800-19.6%
239,218+8.1%
157,558+8.3%
72,210+5.8%
61,561+4.4%
23,786+29.6%
81,659+7.6%
82,252+0.2%
29,101+157.3%335+159.5%75,748+20.8%

1,410,472+7.4%
1,145,809+6.7%
95,184+67.6%
264,662+10.6%
158,277+0.5%
82,529+14.3%
65,481+6.4%
10,266-56.8%
106,384+30.3%
109,666+33.3%
9,218-68.3%
2,572+667.1%
85,927+13.4%(Note) Percentage figures (%) in the lower column are YoY* Figures for 3Q FYE3/2021 are the sum of consolidated results of MUL and those of HC (IFRS basis)converted into J-GAAP basis in a simplified manner, and are presented as reference values

28

Financial Performance: Balance Sheet, etc.
(Million Yen)
1

Cash and Cash Equivalents

2

Total Equity

3

Total Assets

4

Segment Assets

5

Operating Assets

6

Equity-Method Investments

7

Goodwill, Investment
Securities, etc.

8

Impaired Assets

9

Allowance

10

Net Balance of Impaired Assets

11

Equity Ratio

12

ROE*2

13

ROA*2

FYE3/2021*1(end-Mar. 2021)
603,3211,250,216
9,730,027
8,604,876
8,259,624
140,291
204,960
95,54358,06637,476
12.5%-(Note) Percentage figures (%) in the lower column are vs. end of the previous fiscal year
*1 Figures for FYE3/2021 are the sum of consolidated results of MUL and those of HC (IFRS basis)converted into J-GAAP basis in a simplified manner, and are presented as reference values*2 Based on net income*3 Annualized net income formulated by multiplying the net income for 3Q FYE3/2022 by 4/3

FYE3/2022(end-Mar. 2022)
540,942-10.3%
1,333,467+6.7%
10,328,872+6.2%
9,345,376+8.6%
9,058,273+9.7%
142,469+1.6%
144,633-29.4%
108,188+13.2%
76,791+32.2%
31,397-16.2%
12.7%+0.2pt8.0%
1.0%-

3Q FYE3/2023(end-Dec. 2022)
547,659+1.2%
1,566,019+17.4%
11,125,962+7.7%
9,997,844+7.0%
9,666,863+6.7%
164,192+15.2%
166,788+15.3%
116,902+8.1%
81,225+5.8%
35,676+13.6%
13.9%+1.2pt8.0%*30.0pt
1.1%*3+0.1pt29

Financial Performance: Balance Sheet, etc. (Cont’d)(Million Yen)
14

FYE3/2021*1(end-Mar. 2021)

Total Funding

15

Indirect Funding

16

Direct Funding

17

CP

18

Securitization

19

Corporate Bonds

20

Direct Funding Ratio

21

Long-Term Funding Ratio

22

Foreign Currency Funding Ratio

FYE3/2022(end-Mar. 2022)

3Q FYE3/2023(end-Dec. 2022)

7,633,836
4,193,928
3,439,908
643,812584,565
2,211,530-

8,066,082+5.7%
4,515,103+7.7%3,550,978+3.2%
682,593+6.0%
604,493+3.4%
2,263,891+2.4%

8,509,245+5.5%
4,928,014+9.1%
3,581,230+0.9%
745,568+9.2%
615,199+1.8%
2,220,462
-1.9%

45.1%
66.8%
43.1%
-

44.0%
-1.1pt65.6%-1.2pt49.4%+6.3pt42.1%-1.9pt63.8%-1.8pt54.2%+4.8pt(Note) Percentage figures (%) in the lower column are vs. end of the previous fiscal year
*1 Figures for FYE3/2021 are the sum of consolidated results of MUL and those of HC (IFRS basis) converted into J-GAAP basis in a simplified manner, and are presented as reference values

Exchange Rate Applied to Financial Results of Major Overseas Subsidiaries*2
Major Overseas Subsidiaries withFY Ending in December

Major Overseas Subsidiaries with FY Ending in March

3Q FYE3/2022*3

3Q FYE3/2023

3Q FYE3/2022*3

3Q FYE3/2023

23

Exchange Rate Applied to PL$1＝JPY108.50$1＝JPY128.05£1＝JPY152.76$1＝JPY111.10£1＝JPY163.91$1＝JPY136.51

24

Exchange Rate Applied to BS$1＝JPY115.02$1＝JPY144.81£1＝JPY160.89$1＝JPY122.39£1＝JPY160.00$1＝JPY132.70*2 Major overseas subsidiaries with⇒ Average exchange rates during Jan. through Sep. applied to PL
FY ending in December
FYE3/2022 BS: exchange rate as of end-Dec. 2021 is applied
3Q FYE3/2023 BS: exchange rate as of end-Sep. 2022 is applied
Major overseas subsidiaries with⇒ Average exchange rates during Apr. through Dec. applied to PL
FY ending in MarchFYE3/2022 BS: exchange rate as of end-Mar. 2022 is applied
3Q FYE3/2023 BS: exchange rate as of end-Dec. 2022 is applied*3 Exchange Rate Applied to BS is that for FYE3/2022 BS

30

Major Companies (1)GlobalBusiness

Consolidated/
Equity-method

Main BusinessLeasing, etc.

Mitsubishi HC Capital
America

Consolidated

Leasing and financial business

Sales Finance

Mitsubishi HC Capital(U.S.A.)

Consolidated

Leasing, etc.

ENGS Commercial
Finance*3<ENGS>

Consolidated

Sales finance, etc.

Mitsubishi HC Capital
Canada Leasing

Consolidated

Leasing and financial business

Mitsubishi HC Capital
Leasing (Beijing)

Consolidated

Leasing, etc.

Mitsubishi HC Capital(Shanghai)

Consolidated

Leasing, etc.

Mitsubishi HC Capital(Hong Kong)

Consolidated

Leasing, etc.

Mitsubishi HC Capital Asia
Pacific

Consolidated

Leasing, etc.

Mitsubishi HC Capital(Singapore)

Consolidated

Leasing, etc.

Mitsubishi HC Capital and
Finance Indonesia

Consolidated

Leasing, etc.

Arthaasia FinanceConsolidated

Leasing and financial businessBangkok Mitsubishi HC
CapitalConsolidated

Leasing, etc.

Mitsubishi HC Capital(Thailand)

Consolidated

Leasing, etc.

Mitsubishi HC Capital
Malaysia

Consolidated

Leasing, etc.

Mitsubishi HC Business Lease

Consolidated

DFL Lease

Consolidated

Leasing, etc.

Shutoken Leasing

Consolidated

Leasing, etc.

DRS

Consolidated

Rental and leasing, etc.

Sekisui Leasing

Consolidated

Leasing, etc.

Mitsubishi HC Capital Property

Consolidated

Real estate leasing

Mitsubishi HC Capital Community

Consolidated

Real estate leasing, Real estatedevelopment and management

Japan Medical Lease

Consolidated

Medical equipment andreal estate leasing

Healthcare Management Partners

Consolidated

Management of fund to support
management specializing in the
medical and long-term care fields

U-MACHINE

Consolidated

Purchase and sale of used goods

MHC Reuse Services

Consolidated

Purchase and sale of used goods

Mitsubishi HC Capital UK

Consolidated

Leasing and financial business

MHC Mobility [Germany] *1

Consolidated

Auto leasing and rental

MHC Mobility [Netherlands] *1

Consolidated

Auto leasing

MHC Mobility [Poland] *1

Consolidated

Auto leasing

Mobility Mixx

Consolidated

MaaS*2 businessAmericas-

China Region

Mitsubishi HC Capital/
Domestic Business Branches

Segment

GlobalBusiness(Note) Company names are as of February 10, 2023 and words inside of “< >” denote abbreviations of companies*1 Office location*2 Abbreviation of “Mobility as a Service” (Making mobility more user friendly for people, by using IT to seamlessly
combine enable movement by various means of transport)*3 Operating company of ENGS Holdings Inc.

ASEAN

Main Business

Major Companies

EuropeCustomer
Solutions

Major Companies

Consolidated/
Equity-method

Segment31

Major Companies (2)Consolidated/
Equity-method

Main Business

Mitsubishi HC Capital/
Environment & Energy Business
Department-

Investment in environment andenergy-related companies

Mitsubishi HC Capital/
Environment & Energy Sales
Department-

Environment-related andrenewable energy business-

Renewable energy andinfrastructure business

Consolidated

Operation and asset
management of renewableenergy business

Segment

Major Companies

Mitsubishi HC Capital/
Infrastructure Business
Environment, Department
Energy &Infrastructure
Mitsubishi HC Capital Energy

Aviation

Major Companies

Consolidated/
Equity-method

Main Business

Mitsubishi HC Capital/
Real Estate Business Department-

Real estate securitization finance

Mitsubishi HC Capital Realty

Consolidated

Real estate revitalization
investment

Mitsubishi HC Capital Realty
Advisors

Consolidated

Asset management services

Diamond Asset FinanceConsolidated

Real estate rental and other realestate finance

Segment

Real Estate

HSE

Consolidated

Wind power generation business

Miyuki Building

Consolidated

Real estate rental

HGE

Consolidated

Solar power generation business

Mitsubishi HC Capital Realty(U.S.A.)

Consolidated

Overseas (North America)
securitization financeJapan Infrastructure Initiative <JII>

Consolidated

Infrastructure investment andloan
Center Point Development <CPD>

Equity-method

Asset management services forlogistics real estate

Logi Flag Development

Equity-method

Asset management services forlogistics real estate-

Investment in mobility-relatedcompanies

Mitsubishi HC Capital Auto Lease

Consolidated

Auto leasing

Mitsubishi HC Capital/
Aviation Business Department-

Japanese Operating Lease withcall option, etc.

Jackson Square Aviation <JSA>

Consolidated

Aircraft leasing

Engine Lease Finance <ELF>

Consolidated

Aircraft engine leasing, part-out

Mitsubishi HC Capital/
Logistics Business Department-

Ship finance

Mitsubishi HC Capital/
Mobility Business Department

Mobility
Logistics

CAI International <CAI>

Consolidated

Marine container leasing

Takari Kokoh Sejahtera

Consolidated

Auto leasing

PNW Railcars

Consolidated

Railway Freight car leasing

Mitsubishi Auto Leasing

Equity-method

Auto leasing(Note) Company names are as of February 10, 2023 and words inside of “< >” denote abbreviations of companies

32

Inquiries

Corporate Communications Department
I

Inquiries
TEL： +81 3-6865-3002

II

Websitehttps://www.mitsubishi-hc-capital.com/english/

33