Consolidated Financial Highlights for the First Quarter of
the Fiscal Year Ending March 31, 2025
[Based on J-GAAP]
August 9, 2024
Company Name:
Mitsubishi HC Capital Inc.
Stock Exchange Listed on: Tokyo (Prime Market)
Company Code:8593
URL: https://www.mitsubishi-hc-capital.com/english/
Representative:
Taiju Hisai, Representative Director, President & CEO
For Inquiry:
Haruhiko Sato, Director, Managing Executive Officer TEL: +81-3-6865-3002
Scheduled Commencement of Dividend Payment:－
Supplemental Material for Financial Results:
Available
Holding of Financial Results Meeting:No(Amounts of less than one million yen are rounded down)
1. Consolidated Results for the First Quarter of the Fiscal Year Ending March 31, 2025 (April 1, 2024 – June 30, 2024)(1) Consolidated Operating Results (Cumulative)(% represents the change from the same period in the previous fiscal year)

Revenues

For the three months ended

Operating income

Net income attributableto owners of the parent

Recurring income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

June 30, 2024

529,891

11.1

48,953

34.9

49,23930.4

39,184

11.6

June 30, 2023

476,814

3.6

36,289(10.3)

37,754(10.0)

35,108

9.6(Note) 1. Comprehensive income:For the three months ended June 30, 2024:
For the three months ended June 30, 2023:

Dilutedearnings per share

Earnings per share

For the three months ended¥146,106 million 51.9%¥96,193 million (17.7)%

(Yen)

(Yen)

June 30, 2024

27.32

27.25

June 30, 2023

24.44

24.37

(2) Consolidated Financial Position
Total assets

As ofJune 30, 2024

Total equity

Equity per share(Millions of yen)

(Millions of yen)

%

(Yen)

11,763,192

1,822,126

15.3

1,257.57

1,705,345

15.1

1,174.88

11,149,858

March 31, 2024
(Reference) Shareholders’ equity:

Equity ratio

As of June 30, 2024:
As of March 31, 2024:¥1,804,202 million¥1,685,267 million

2. Dividends
Dividends per share
1st Quarter - end

For the fiscal year

2nd Quarter - end

3rd Quarter - end

Fiscal year - end

Annual

(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

ended March 31, 2024

－

18.00

－

19.00

37.00

ending March 31, 2025

－
20.00

－

20.00

40.00

ending March 31, 2025
(Forecast)(Note) Changes from the latest released dividend forecasts: No

3. Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 – March 31, 2025)(Year-on-year change %)Net income attributable toowners of the parent
Full year

Earnings per share(Millions of yen)

%

(Yen)

135,000

9.0

94.10

(Note) Changes from the latest released performance forecasts: No

* Notes(1) Significant changes in the scope of consolidation during the period:No(2) Application of accounting treatments specific to the preparation of the quarterly
consolidated financial statements:
Yes(Note) Please refer to “2. Quarterly Consolidated Financial Statements and Major Notes, (3) Notes to the Quarterly
Consolidated Financial Statements (Notes concerning accounting treatments specific to the preparation of thequarterly consolidated financial statements)” on page 11 for detail.
(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions(ⅰ) Changes in accounting policies with revision of accounting standards, etc.

:

No(ⅱ) Changes in accounting policies other than (ⅰ) above:No(ⅲ) Changes in accounting estimates:No(ⅳ) Restatement of revisions:

No(4) Number of outstanding shares (common shares)(ⅰ) Number of outstanding
shares (including
treasury shares)

As of June 30, 2024

1,466,912,244

shares

As of March 31, 2024

1,466,912,244

shares(ⅱ) Number of treasury
shares

As of June 30, 2024

32,233,745

shares

As of March 31, 2024

32,489,822

shares(ⅲ) Average number ofshares outstanding

For the three months
ended June 30, 2024

1,434,527,748

sharesFor the three months
ended June 30, 2023

1,436,244,628

shares(Note) The number of treasury shares as of June 30, 2024 includes the Company’s shares held by a trust under the
performance-based stock compensation plan (2,619,798 shares as of June 30, 2024, 2,685,268 shares as of March
31, 2024).
Also, the number of treasury shares excluded in calculating the average number of shares outstanding during theperiod includes the Company’s shares held by a trust under the performance-based stock compensation plan
(2,668,901 shares for the three months ended June 30, 2024).

* Review of the accompanying quarterly consolidated financial statements by certified
public accountants or an audit firm

: Yes (voluntary)* Explanation regarding the appropriate use of the forecasts, etc.
(Remarks on forward-looking statements)
The forward-looking statements in this report, including financial forecast, have been prepared by using information
available to Mitsubishi HC Capital Inc. (“Company” or “we”) on the date of release and the certain assumptions deemed
reasonable by the Company, and are not intended to assure that the Company will achieve such results. Actual earnings
may differ significantly from the forecasts for various reasons.
* This “Consolidated Financial Highlights” is written in Japanese and translated into English. The Japanese text is theoriginal and the English text is for reference purposes. If there is any conflict or inconsistency between these two texts,
the Japanese text shall prevail.

Contents
1. Summary of Operating Results, etc.

2(1) Consolidated Operating Results2(2) Operating Results by Reportable Segments

4(3) Consolidated Financial Position

6(4) Future Outlook

6

2. Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly Consolidated Balance Sheets

77(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements ofComprehensive Income

9

Quarterly Consolidated Statements of Income
For the Three Months ended June 30, 2023 and 2024

9

Quarterly Consolidated Statements of Comprehensive Income
For the Three Months ended June 30, 2023 and 2024
(3) Notes to the Quarterly Consolidated Financial Statements

1011(Notes concerning accounting treatments specific to the preparation of the quarterly consolidated
financial statements

11(Additional information)

11(Notes concerning segment information, etc.)

11(Notes concerning significant changes in shareholders’ equity)

13(Notes concerning going concern assumption)

13(Notes concerning quarterly consolidated statement of cash flows)13(Significant subsequent event)14

1

1. Summary of Operating Results, etc.
(1) Consolidated Operating Results
For the three months ended June 30, 2024, net income attributable to owners of the parent increased by ¥4.0
billion, or 11.6% year on year, to ¥39.1 billion mainly due to the strong performance by the Aviation segment
and the positive effects of fiscal period adjustment associated with the change of fiscal year-end of ourconsolidated subsidiaries JSA International Holdings, L.P. and its subsidiaries* despite an absence of large
gains on sales and gain on step acquisitions in relation to making CenterPoint Development Inc. a whollyowned subsidiary, which were recorded in the Real Estate segment a year ago.
*

Please refer to “2. Quarterly Consolidated Financial Statements and Major Notes, (3) Notes to the
Quarterly Consolidated Financial Statements (Additional information)” on page 11 for details of the“positive effects of fiscal period adjustment.”(Billions of yen)
For the three months
ended June 30, 2023

For the three months
ended June 30, 2024

Change (%)

Revenues

476.8

529.8

11.1

Gross profit

94.6

113.6

20.0

Operating income

36.2

48.9

34.9

Recurring income

37.7

49.2

30.4

Net income attributable toowners of the parent

35.1

39.1

11.6

(Major topics)
April 2024

 Announced the establishment of a special purpose company with Pacific Power Co., Ltd. tosupport the introduction of equipment contributing to decarbonization such as solar power
generation and storage batteries.
 Completed the investment in European Energy A/S, a Danish company engaging in
renewable and next generation energy business, and made the company our equity-method
associate*.
* Please refer to “2. Quarterly Consolidated Financial Statements and Major Notes, (3) Notes to the Quarterly
Consolidated Financial Statements (Significant subsequent event)” on page 14 for details of “New associateaccounted for using the equity method through share acquisition.”

May 2024

 Released “Progress of the Medium-term Management Plan (2025 MTMP)” as of the time of
the financial results briefing for the fiscal year ended March 31, 2024*.
* Posted “Progress of 2025 MTMP - as of the Time of the Financial Results Briefing for FYE3/2024” on the
Company’s website on June 20, 2024.
(“Medium-term Management Plan” page of the website)
URL https://www.mitsubishi-hc-capital.com/english/investors/managementplan/index.html

June 2024

 Announced to start discussions with Central Research Institute of Electric Power Industry and
NEXTEMS on collaboration for a demonstration project of green hydrogen production in
Miyakojima, aiming for Japan’s first resource-circulating, third-party-owned on-site hydrogen
supply model.
 To accelerate sustainability management of Nissei Holdings Ltd., our consolidated subsidiary
Mitsubishi HC Capital Energy Inc. signed a PPA* for Fukushima Plant of Nissei Limited, asubsidiary of Nissei Holdings Ltd.
* PPA (Power Purchase Agreement) is an arrangement in which electricity is supplied to a demand site from a
distant power generation facility based on a power purchase agreement.

2 Achieved one of the non-financial targets set out in the 2025 MTMP to achieve “the ratio ofstandard or higher level talent in DX assessment* of 80% or more (non-consolidated)” aheadof schedule.
* A tool provided by an external vendor to measure the DX literacy level, and the results classify employees into
three levels: Beginner, Standard, and Expert.

July 2024

 MHC Aviation Services Co., Ltd., our subsidiary mainly engaging in intermediary services forpurchase and sale of aircraft and aircraft engine, started operations.
 Started to provide GX Assessment Lease that supports customers decarbonization
investment through lease and installment transactions and certifies that leased property usedby customers is a low-carbon facility.
 Announced to participate in “Sustainable Aviation Fuel Financing Alliance” which is an alliance
between companies and co-invested in “SAFFA Fund I, LP” which is a fund focusing on
Sustainable Aviation Fuel (“SAF”) to contribute to the expansion of production of SAF whichis expected as a means of decarbonization in the aviation industry.

(Investments by the Innovation Investment Fund*1 during the fiscal year ending March 31, 2025)
Name of investee

Business description

Mnes Inc.

Provision of medical support cloud service and remote image
diagnostic aid service

MUSE Inc.

Development and sale of robots for retail stores

Formic Technologies Inc.
SoLARIS Inc.
EneCoat Technologies Co., Ltd.

Provision of industrial robots to the manufacturing businessusing the Robot-as-a-Service model in the U.S.
Research and development, sale and support of soft robotics
and mechatronics and development, and sale of artificial
musclesDevelopment, manufacture and sale of perovskite solar cells(PSCs)*2 and related materials*1 A total of ¥10 billion of funds launched in April 2023 for investment in startups with an aim to promote creation of new services
and development of new businesses.
*2 Next generation solar cells that are thin, lightweight and flexible which use chemical compounds having a crystalline structure
called the perovskite structure as a power-generating layer.

3(2) Operating Results by Reportable Segments
Operating results by reportable segments* and major factors of changes are as follows.
* For overview of reportable segments, please refer to “2. Quarterly Consolidated Financial Statements andMajor Notes, (3) Notes to the Quarterly Consolidated Financial Statements (Notes concerning segment
information, etc.)” on page 11.)
(Customer Solutions)
Segment profit increased by ¥2.1 billion, or 26.1% year on year, to ¥10.3 billion mainly thanks to an increasein gain on sales related to real estate leasing and recording of gain on sales of shares of subsidiaries andassociates despite negative effects of deconsolidation of consolidated subsidiaries of DFL Lease Co., Ltd. andShutoken Leasing Co., Ltd.
(Global Business)
Segment profit decreased by ¥0.7 billion, or 19.7% year on year, to ¥3.2 billion mainly due to an increase incredit costs in line with the market downturn of the transportation sector in the Americas and an absence of
positive effects of fiscal period adjustment* associated with the reorganization of subsidiaries in the Americas ayear ago.
* Effective April 1, 2023, we executed the business integration of three subsidiaries in the Americas having a different fiscal year-end.
While the surviving company’s fiscal year-end is March 31, the two merged companies’ fiscal year-end was December 31.
Accordingly, the consolidated financial statements for the three months ended June 30, 2023 included the results of the surviving
company from April 1, 2023 to June 30, 2023 as well as the results of the two merged companies from January 1, 2023 to March
31, 2023.

(Environment & Energy)
Segment profit decreased by ¥2.3 billion, or 86.8% year on year, to ¥0.3 billion mainly due to a decrease inelectricity sales revenues due to wind conditions in the wind power generation business, recording of interest
expense in relation to the investment in European Energy A/S*, and an absence of the effect of the absorptiontype merger of Japan Infrastructure Initiative Company Limited which was executed a year ago and resulted inrecognition of deferred tax assets and a decrease in tax expenses, despite recording of gain on sales of sharesof subsidiaries and associates in relation to sale of interest in overseas infrastructure projects.
*The application of the equity method to European Energy A/S as a result of the investment will start from the three months ending
September 30, 2024. Please refer to “2. Quarterly Consolidated Financial Statements and Major Notes, (3) Notes to the Quarterly
Consolidated Financial Statements (Significant subsequent event)” on page 14 for details.

(Aviation)
Segment profit increased by ¥13.5 billion, or 565.6% year on year, to ¥15.9 billion mainly thanks to increases
in leasing revenue and gain on sales as well as the positive effects of fiscal period adjustment associated withthe change of fiscal year-end of JSA International Holdings, L.P. and its subsidiaries.
(Logistics)
Segment profit increased by ¥0.1 billion, or 3.3% year on year, to ¥5.6 billion mainly thanks to increases inleasing revenue and gain on sales in the railway freight car leasing business despite a decrease in gain on salesof shipping.
(Real Estate)
Segment profit decreased by ¥11.5 billion, or 98.4% year on year, to ¥0.1 billion mainly due to an absenceof large gains on sales and gain on step acquisitions in relation to making CenterPoint Development Inc. awholly-owned subsidiary, which were recorded in the three months ended June 30, 2023.
(Mobility)
Segment profit increased by ¥0.2 billion, or 28.5% year on year, to ¥1.1 billion thanks to strong performanceof our equity-method associate Mitsubishi Auto Lease Corporation resulting in an increase in share of profit ofentities accounted for using equity method.

4

Segment profit(Billions of yen)

Reportable segments

For the three months
Ended June 30, 2023

For the three months
Ended June 30, 2024

Change (%)

Customer Solutions

8.2

10.3

26.1

Global Business

4.0

3.2

(19.7)

Environment & Energy

2.6

0.3

(86.8)

Aviation

2.3

15.9

565.6

Logistics

5.4

5.6

3.3

Real Estate

11.7

0.1

(98.4)

Mobility

0.8

1.1

28.5

Adjustments

(0.2)

2.3

－

Total

35.1

39.1

11.6

(Note) 1. Adjustments of segment profit consist of company-wide expenses and income not allocated to any reportablesegments and profit adjustments recorded by purchase method associated with the merger with Hitachi Capital
Corporation.
2. Total of segment profit is consistent with net income attributable to owners of the parent on the quarterly consolidated
statements of income.

Segment assets

Reportable segments(Billions of yen)
Change (%)

As of March 31, 2024

As of June 30, 2024

Customer Solutions

2,966.5

2,895.5(2.4)

Global Business

3,070.8

3,282.2

6.9

Environment & Energy

416.6

398.3

(4.4)

Aviation

2,020.0

2,300.0

13.9

Logistics

1,099.0

1,164.3

5.9

Real Estate

525.4

549.4

4.6

Mobility

51.9

51.3

(1.2)

Adjustments

29.0

32.0

10.6

10,179.4

10,673.5

4.9

Total

(Note) 1. Segment assets include operating assets, equity-method investments, goodwill and investment securities.
2. Adjustments of segment assets consist mostly of goodwill recognized when Diamond Lease Company Limited and
UFJ Central Leasing Co., Ltd. merged and became Mitsubishi UFJ Lease & Finance Company Limited in 2007 andother segment assets such as company-wide investment securities, which are not attributable to any reportablesegments, and offsets of transactions between segments.

5(3) Consolidated Financial Position
Compared to the figures as of March 31, 2024, total assets as of June 30, 2024 increased by ¥613.3 billion
to ¥11,763.1 billion, total equity increased by ¥116.7 billion to ¥1,822.1 billion, and interest-bearing debt
(excluding lease obligations) increased by ¥477.4 billion to ¥8,917.2 billion.

(4) Future Outlook
The progress made toward the consolidated financial forecasts for the fiscal year ending March 31, 2025
announced on May 15, 2024 (net income attributable to owners of the parent of ¥135.0 billion) during the threemonths ended June 30, 2024 was generally in line with the forecasts at 29.0%, and accordingly, there has been
no change in the consolidated financial forecasts for the year ending March 31, 2025.

6

2. Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly Consolidated Balance Sheets
For the fiscal year ended
March 31, 2024
(As of March 31, 2024)
AssetsCurrent assets
Cash and deposits
Installment receivables
Lease receivables and investments in leases
Operating loans receivables
Other operating loans receivable
Lease and other receivables
Securities
Merchandise
Other current assets
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Leased assets
Leased assets
Advances on purchases of leased assets
Total leased assets
Other operating assets
Own-used assets
Total property, plant and equipment
Intangible assets
Leased assets
Other intangible assets
Goodwill
Other
Total other intangible assets
Total intangible assets
Investments and other assets
Investment securities
Distressed receivables
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets

7(Millions of yen)
For the three months ended
June 30, 2024
(As of June 30, 2024)

366,478
172,368
3,153,989
1,850,117
211,228
80,0302,565
38,240
194,181(28,373)
6,040,826

460,477
169,139
3,176,179
1,966,869
201,825
79,983
3,159
37,895
195,249(30,515)
6,260,263

3,891,057
119,139
4,010,196
207,957
18,561
4,236,715

4,242,969
116,092
4,359,062
217,020
19,5804,595,663

12,98910,942102,091
132,748
234,839
247,829

107,356
137,506
244,863
255,805

427,529
122,035
138,080(66,983)
620,661
5,105,206

432,467
127,587
154,622(66,920)
647,757
5,499,226

3,825
3,825
11,149,858

3,702
3,702
11,763,192

For the fiscal year ended
March 31, 2024
(As of March 31, 2024)
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Commercial papers
Current maturities of loans from thesecuritizations of the minimum future rentals
on lease contracts
Income taxes payable
Deferred profit on installment sales
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other current liabilities
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Loans from the securitizations of the minimum
future rentals on lease contracts, less current
maturities
Provision for retirement benefits for directors(and other officers)
Provision for share awards for directors (andother officers)
Retirement benefit liability
Reserve for contract of insurance
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeShare acquisition rights
Non-controlling interests
Total equity
Total liabilities and equity

8(Millions of yen)
For the three months ended
June 30, 2024
(As of June 30, 2024)

171,616
471,060
563,684
1,012,618
784,178

138,481519,124
672,418
900,433
960,180

224,330

217,652

13,083
7,016
17,42010,627
6,375
7,288

2,091

927

278,869
3,545,972

309,319
3,742,828

1,606,588
3,435,702

1,587,723
3,730,803

341,628

328,879

69

70

516

612

6,049
12,818495,166
5,898,539
9,444,512

3,121
12,846534,179
6,198,236
9,941,065

33,196546,268
775,152(20,894)
1,333,722

33,196546,248
787,043(20,711)
1,345,776

14,987

15,67136,817
292,477
7,262

42,283390,097
10,373

351,544458,426

1,866
18,211
1,705,345
11,149,858

1,768
16,155
1,822,126
11,763,192

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(For the Three Months ended June 30, 2023 and 2024)(Millions of yen)
For the three months ended For the three months ended
June 30, 2023
June 30, 2024
(April 1, 2023 - June 30, 2023) (April 1, 2024 - June 30, 2024)
Revenues
Cost of revenues
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using
equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Recurring income
Extraordinary income
Gain on sale of investment securities
Gain on sale of shares of subsidiaries andassociates
Gain on step acquisitions
Total extraordinary income
Extraordinary losses
Loss on sale of investment securities
Loss on sale of shares of subsidiaries andassociates
Total extraordinary losses
Income before income taxes
Income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of the parent

9476,814382,175
94,63958,34936,289529,891
416,283
113,608
64,655
48,953

1,159
751

116
379

2,129

2,407

1,985
6,027

1,396
4,299

2,808
977
775
4,561
37,754

2,032
1,211
769
4,013
49,239

1,378

2,512

－

4,297

4,822
6,201

－
6,810

－

387

138

－

138
43,817
8,429
35,388279
35,108387
55,662
16,52039,141(43)
39,184

(Quarterly Consolidated Statements of Comprehensive Income)(For the Three Months ended June 30, 2023 and 2024)(Millions of yen)
For the three months ended For the three months ended
June 30, 2023
June 30, 2024
(April 1, 2023 - June 30, 2023) (April 1, 2024 - June 30, 2024)
Net income
Other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of
the parent
Comprehensive income attributable to noncontrolling interests

1035,38839,141

2,841

688

4,301
50,527(162)

8,601
96,700
3,089

3,296

(2,115)60,80596,193106,964
146,106

95,600146,066593

40

(3) Notes to the Quarterly Consolidated Financial Statements(Notes concerning accounting treatments specific to the preparation of the quarterly consolidated financial
statements)
Tax expenses of the Company and its certain consolidated subsidiaries were calculated through multiplying
income before income taxes for the three months ended June 30, 2024 by the reasonably estimated effective tax
rate (after tax effect accounting) applicable to income before income taxes for the fiscal year ending March 31,
2025.

(Additional information)
With respect to our consolidated subsidiaries JSA International Holdings, L.P. and its 16 subsidiaries having
a fiscal year-end of December 31, we previously used their financial statements as of December 31 to prepare
the consolidated financial statements and made necessary consolidation adjustments for significant transactions
among consolidated companies that occurred between December 31 and the consolidated fiscal year-end.
Effective April 1, 2024, the fiscal year-end of these consolidated subsidiaries was changed to March 31 to alignwith the consolidated fiscal year-end, and we have adopted the method to adjust earnings for the period between
January 1, 2024 to March 31, 2024 through the consolidated statements of income, and accordingly the period
subject to consolidation for the fiscal year ending March 31, 2025 is 15 months from January 1, 2024 to March
31, 2025.
Revenues of these consolidated subsidiaries from January 1, 2024 to March 31, 2024 amounted to ¥40,653
million, operating income amounted to ¥9,125 million, recurring income amounted to ¥9,063 million, income
before income taxes amounted to ¥9,063 million, and net income amounted to ¥6,061 million. Deferred gains orlosses on hedges and foreign currency translation adjustment for the same period increased by ¥6,443 millionand ¥22,866 million, respectively.
As a result of this change, net income attributable to owners of the parent in the quarterly consolidated
statements of income for the three months ended June 30, 2024 increased by ¥9,437 million.
(Notes concerning segment information, etc.)
1. Overview of reportable segments
Main business description of each reportable segment is as follows.
Reportable segments

Main business description

Customer Solutions

Finance solution business for companies and government agencies, energy-saving
solution business, sales finance business provided through collaboration withvendors, real estate leasing business, and financial service business

Global Business

Finance solution business, and sales finance business provided through collaboration
with vendors in Europe, the Americas, China, and ASEAN region

Environment & Energy

Renewable energy business and environment related finance solution business

Aviation

Aircraft leasing business and aircraft engine leasing business

Logistics

Marine container leasing business and railway freight car leasing business

Real Estate

Real estate finance business, real estate investment business,and real estate asset management business

Mobility

Auto leasing business and supplementary services11

2. Information on revenues and profit or loss by reportable segment
For the three months ended June 30, 2023 (April 1, 2023 to June 30, 2023)

Reportable segments

Customer
SolutionsGlobalEnvironment &Business
EnergyAviation

Logistics

Real Estate

Mobility(Millions of yen)Amountrecorded inquarterly
Adjustments
consolidated(Note) 1, 2
statements ofincome(Note) 3

Revenues
Revenues fromexternalcustomers
Inter-segment
sales ortransfers

262,147

104,361

9,115

42,93730,64426,500759

348

476,814

311

－

1

－

－

3

－

(317)

－

Total

262,458

104,361

9,116

42,93730,64426,504759

31476,814Segment profit

8,204

4,041

2,693

2,392

5,428

11,730884(266)

35,108(Note)1. Adjustments of revenues include revenue adjustment of ¥(497) million related to the merger with Hitachi Capital
Corporation under the purchase method.
2. Adjustments of segment profit consist mostly of adjustments of company-wide expenses included in selling, general andadministrative expenses not allocated to any reporting segments. It also includes profit adjustment of ¥443 million related
to the merger with Hitachi Capital Corporation under the purchase method.
3. Segment profit is consistent with net income attributable to owners of the parent on the quarterly consolidated
statements of income.

For the three months ended June 30, 2024 (April 1, 2024 to June 30, 2024)
Reportable segments

Customer
SolutionsGlobalEnvironment &Business
EnergyAviation(Note) 4

Logistics

Real Estate

Mobility(Millions of yen)Amountrecorded inquarterly
Adjustments
consolidated(Note) 1,2,4
statements ofincome(Note) 3

Revenues
Revenues fromexternalcustomers
Inter-segment
sales ortransfers

245,276

121,676

9,102

105,450

32,72814,0631,330

264

529,891

271

16

1

－

－

6

－

(295)

－

Total

245,547

121,692

9,103

105,450

32,72814,069

1,330

(31)

529,891

Segment profit

10,342

3,245

354

15,926

5,610

187

1,137

2,380

39,184(Note)1. Adjustments of revenues include revenue adjustment of ¥(230) million related to the merger with Hitachi Capital
Corporation under the purchase method.
2. Adjustments of segment profit consist mostly of company-wide expenses and income. It also includes profit adjustmentof ¥84 million related to the merger with Hitachi Capital Corporation under the purchase method.
3. Segment profit is consistent with net income attributable to owners of the parent on the quarterly consolidated statements
of income.
4. As described in Notes to the Quarterly Consolidated Financial Statements (Additional information), effective April 1,
2024, JSA International Holdings, L.P. and its 16 subsidiaries changed their fiscal year-end, and the resulting effect was
adjusted through the consolidated statements of income. The effect of the fiscal period change on segment profit was¥9,437 million, with ¥6,061 million recorded in the Aviation segment and ¥3,376 million in Adjustments.
The adjustment relates to financing transactions between consolidated companies in different segments resulting fromunifying the fiscal year-end.

12

3. Information on impairment losses on non-current assets and goodwill by reportable segment
For the three months ended June 30, 2023 (April 1, 2023 to June 30, 2023)(Significant changes in goodwill)
Real Estate segment recorded goodwill of ¥13,207 million associated with the acquisition of all sharesof CenterPoint Development Inc.
For the three months ended June 30, 2024 (April 1, 2024 to June 30, 2024)(Significant changes in goodwill)
Not applicable(Notes concerning significant changes in shareholders’ equity)
Not applicable(Notes concerning going concern assumption)
Not applicable(Notes concerning quarterly consolidated statement of cash flows)
Quarterly consolidated statement of cash flows for the three months ended June 30, 2024 is not prepared.
Depreciation (including amortization of intangible assets excluding goodwill) and amortization of goodwill for thethree months ended June 30, 2024 are as follows.
(Millions of yen)
For the three months ended
June 30, 2023
(April 1, 2023 - June 30, 2023)
Depreciation of leased assets
Depreciation of other operating
assetsDepreciation of own-used assets
Other depreciation
Amortization of goodwill

13

For the three months ended
June 30, 2024
(April 1, 2024 - June 30, 2024)

76,840100,732

2,800

3,067

2,640

2,569

969

926

2,238

3,421

(Significant subsequent event)(New associate accounted for using the equity method through share acquisition)
The Company resolved at its Board of Directors meeting on January 19, 2024 to invest approximately €700
million in European Energy A/S (“European Energy”), a Danish company engaging in renewable and next
generation energy business mainly in Europe, and signed an investment agreement to acquire 20% of all sharesof European Energy (“Investment”) on the same day. The investment through our consolidated subsidiary MHC
Energy Europe ApS (“MHC Energy Europe”) based on the agreement was completed on April 16, 2024. As aresult, European Energy has become the Company’s associate accounted for using the equity method.
The overview of the investee European Energy is as follows.

1.

Company nameEuropean Energy A/SLine of business

Renewable energy and next generation energy business

Voting right ratio after the share acquisition

20.0%

Purpose of the investment
European Energy operates renewable energy business in 28 countries mainly in Europe. Further, it
has a large growth potential by being a global leading and pioneering player in the next generationenergy sector through production of green hydrogen and e-methanol.
Through the strategic partnership with European Energy and by leveraging the capability andknowledge of both companies, the Company will accelerate the development of renewable and next
generation energy business on a global scale with an aim to enhance the Environment & Energy
business and contribute to realizing a decarbonized society.

2.

Date of investment
April 16, 2024
The fiscal year-end of MHC Energy Europe who has made the investment in European Energy is
December 31, and the company’s financial statements for the three months ended March 31, 2024 wereused to prepare the consolidated financial statements for the three months ended June 30, 2024.
Accordingly, the application of equity method to European Energy as a result of the investment will startfrom the three months ending September 30, 2024.

14