Financial Results
for the 2nd Quarter of Fiscal Year Ending March 31, 2023
Mitsubishi HC Capital Inc.
November 10, 2022

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.
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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 attributable to owners of the parent
 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 2Q FYE3/2023
III. Segment Updates
IV. Financial Forecast for FYE3/2023

V. Appendix

2

I.

Highlights

3

Highlights

Net income increased by 4.5% YoY mainly thanks to the profit contribution from
CAI, and the business growth of the subsidiaries in Europe and Americas.
Gross profit for 2Q FYE3/2023 increased by 16.7 billion yen (10.4%) YoY to 177.9 billion yen thanks tothe profit contribution from CAI, a marine container leasing company in the U.S. that became our whollyowned subsidiary in November 2021, the business growth of the subsidiaries mainly in Europe andAmericas in the Global Business segment, and an increase in gains on sales related to real estatebusiness.

Net income for 2Q FYE3/2023 increased by 2.6 billion yen (4.5%) YoY to 63.1 billion yen thanks to adecrease in credit costs in addition to an increase in gross profit, despite the absence of large gains onsales of strategic shareholdings (pre-tax basis: 26.7 billion yen), which were recorded in 2Q FYE3/2022.

The progress of net income against the financial forecast was 57.4%. The forecast
remains unchanged due to the uncertainties in the external environment.
The progress against the financial forecast of 110.0 billion yen in net income was 57.4%.

The financial forecast remains unchanged taking into account the growing uncertainties in the external
environment, such as the risk of recession mainly in Europe and the U.S., in the second half of this fiscal
year.

4

II. Financial Results for 2Q FYE3/2023

5

Financial Results for 2Q FYE3/2023
 Gross profit for 2Q FYE3/2023 increased by 16.7 billion yen, or 10.4% YoY to 177.9 billion yen, thanks to the profit contribution from CAI,
a marine container leasing company in the U.S., the business growth of the subsidiaries in Europe and Americas, and other factors.
Net income increased by 2.6 billion yen, or 4.5% YoY to 63.1 billion yen, despite the absence of large gains on sales of strategic shareholdings(pre-tax basis: 26.7 billion yen), which were recorded in 2Q FYE3/2022.
 The progress against the financial forecast for FYE3/2023 (net income: 110.0 billion yen) was 57.4%.

(Billion Yen)

(a)

(b)

(c)=(b)-(a)(d)(e)=(c)/(a)2Q
FYE3/2022

2Q
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

833.3
161.1
58.1
59.0
60.4
1,147.2

944.7
177.9
74.1
75.7
63.1
1,278.4+111.3
+16.7
+15.9
+16.6
+2.6
+131.1

+26.2
+9.4
+3.7
+3.6
+3.0
+98.4

+13.4%+10.4%+27.5%+28.2%+4.5%+11.4%

7

Segment Assets

9,345.3*5

9,910.2+564.8*6+644.1+6.0%*6891011Interim Dividend
ROA*1
ROE*1
OHR*2

¥13.001.3%*7
10.1%*754.9%¥15.001.2%*8
8.9%*853.8%+¥2.00-0.1pt-1.2pt-1.1pt<Impact of the exchange rates on net income＞
The impact of the exchange rates was △ approx.
0.1 billion yen including exchange revaluation losses
related to Japanese Operating Lease with Call Option(JOLCO)*4 (△ approx. 3.1 billion yen).

*1 Based on the net income*5 FYE3/2022*6 Change vs. end of 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 by doubling the semi-annual net income for 2Q FYE3/2022*3 Calculated by difference YoY in exchange rates applied to P/L (exchange rates
Denominator: Average of 2Q FYE3/2022 equity or total assets and FYE3/2021 equity or total assets
applied to 2Q FYE3/2023 P/L minus exchange rates applied to 2Q 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 35 for applied exchange rates)*8 Numerator: Annualized net income by doubling the semi-annual net income for 2Q FYE3/2023
Denominator: Average of FYE3/2022 and 2Q FYE3/2023 equity or of FYE3/2022 and 2Q 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 start of the lease date, the liabilities (borrowing) use the exchange rate as of the final day of the
fiscal period. Therefore, exchange revaluation losses occur

6Increase/Decrease Factors in Net Income
Attributable to Owners of the Parent(Billion Yen)

(2)
+7.2

(1)
+16.4

(5)
+4.3

△6.9
(3)

Net Income
+2.6

△18.3
(4)
63.1

60.4

2Q
FYE3/2022

Business Growth*Credit Costs

OperatingExpenses

Positive Factor(Billion Yen)

(1)

Business Growth*

2Q
FYE3/2022

2Q
FYE3/2023

Extraordinary
Income/Loss

Others2Q
FYE3/2023

Negative Factor
Major Factors for Changes

 Increased YoY thanks to the profit contribution from CAI, a marine container leasing company in the U.S.
that became our wholly-owned subsidiary in November 2021, the business growth of the subsidiaries mainlyin Europe and Americas in the Global Business segment, and an increase in gains on sales related to realestate business, etc.

161.2

177.7

(2) Credit Costs

13.6

6.4

 Decreased YoY due to decreases in the credit costs for the Global Business and Aviation segments.

(3) Operating Expenses

88.5

95.5

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

(4) Extraordinary Income/Loss

27.0

8.6

 Decreased YoY due to the absence of the large gains on sales of strategic shareholdings, which wererecorded in 2Q FYE3/2022, despite the recording of gains on revaluation of securities at a European
subsidiary in the Global Business segment.

(5) Others

25.6

21.2

 Decreases in taxes, etc.

(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
0.9(Billion Yen)
2Q FYE3/2022
Total：60.4

18.3

29.4

0.6
3.9

1.9

4.1

1.1

2Q FYE3/2023
Total：63.1

20.6

23.6

5.4

9.1

5.5

2.3 △2.7△0.8

Customer Solutions

Global Business

Environment, Energy & Infrastructure

Segment Profit(Billion Yen)

2Q
2Q
FYE3/2022 FYE3/2023

Aviation

Logistics

Real Estate

Mobility

Adjustments

Segment Assets
YoY

FYE3/2022*1

2Q
FYE3/2023

Changefrom
FYE3/2022

Customer Solutions

18.3

20.6

+2.2

3,337.6

3,245.6-92.0

Global Business

29.4

23.6

-5.7

2,316.3

2,577.0+260.6

Environment, Energy& Infrastructure

1.1

5.4

+4.2

417.9

430.4

+12.5

Aviation

4.1

-2.7

-6.9

1,365.1

1,639.0+273.9Logistics

0.9

9.1

+8.2

1,026.7

1,183.3+156.6

Real Estate

3.9

5.5

+1.6

712.7

671.0

-41.6

Mobility

1.9

2.3

+0.4

129.4

128.6

-0.8

Adjustments

0.6

-0.8

-1.4

39.3

35.0

-4.3

Total

60.4

63.1

+2.6

9,345.3

9,910.2+564.8Major Factors for Changes in Segment Profit
Increased thanks to the large gains on sales related to real estate leasing, reductions incredit costs, etc.
Decreased due to the absence of gains on sales of strategic shareholdings recorded in
2Q FYE3/2022, despite the business growth in Europe and Americas.
Increased thanks to increases in profits from equity-method investments accompaniedwith starting commercial operation of a wind power generation project in Europe, etc.
Posted a segment loss due to an increase in exchange revaluation losses related to
JOLCO*2, an impairment loss, etc., despite the recovery trend in the business.
Increased thanks to the profit contribution from CAI, a marine container leasing
company in the U.S. that became our wholly-owned subsidiary in November 2021, etc.
Increased thanks to an increase in gains on sales and other factors, while credit costs
were posted for a certain project in the U.S.
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 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)
2Q
FYE3/2022*1

2Q
FYE3/2023

58.4

59.3

+0.8

Segment Profit

18.3

20.6

+2.2

..

New Transactions Volume

431.2

434.5

+3.3

Customer Finance*3

347.6

353.1

+5.4

Vendor Solution

83.5

81.4

-2.1

3,337.6

3,245.6-92.0

2,819.6

2,726.4-93.1

Customer Finance*3
Vendor Solution

518.0

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

Segment Assets

Sales
Finance519.1*1 Segment assets figure is for FYE3/2022 (reference value)*2 Segment assets figure is vs. end of FYE3/2022*3 Strategic shareholdings, purchasing and sale of used products, etc. are included+1.0

Gross profit increased YoY thanks to the large
gains on sales related to real estate leasing, etc.
 Segment profit increased YoY thanks to adecrease in credit costs, non-operating income(insurance claim income) posted for a certain deal,etc., in addition to an increase in gross profit.
 Segment assets decreased compared to the end of
FYE3/2022 due to the impact of a decrease in newtransactions volume that was closed in FYE3/2022,
etc.


Segment Assets of Customer Solutions by Transaction Type
(2Q FYE3/2023)
Others5.7%
Installment/Loans
15.3%

Total
3,245.6
Billion Yen

Leasing
79.0%

10

Focused Business Domains

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

2Q
FYE3/2023



52.8

61.4

+8.6

Segment Profit

29.4

23.6

-5.7

Europe

8.4

15.2

+6.8

Americas

3.3

6.8

+3.4

China

-1.4

0.5

+2.0

ASEAN

1.0

1.2

+0.2

Others

18.1

-0.2

-18.3

528.2

651.8

+123.6

Europe

304.3

361.5

+57.1

Americas

143.2

198.1

+54.8

China

47.4

41.0

-6.4

ASEAN

33.1

51.1

+18.0

Others---2,316.3

2,577.0+260.6

Europe1,157.2

1,217.0+59.8

Americas

718.7

907.2

+188.4

China

221.7

214.7

-6.9

ASEAN

213.8

233.7

+19.9

Others

4.8

4.2

-0.5

Segment Assets

Mobility

GlobalAssetsComments
YoY*3

Gross Profit

New Transactions Volume

Sales
FinanceGross profit increased YoY thanks to the business growth
mainly in Europe and Americas.
Segment profit decreased YoY due to the absence oflarge gains on sales of strategic shareholdings recorded
in 2Q FYE3/2022 despite factors contributing to profit
increase such as a decrease in credit costs and postingof gains on revaluation of securities at a European
subsidiary.
Segment assets increased compared to the end of
FYE3/2022 thanks to an increase in new transactions
volume in Europe and Americas, the impact of theexchange rates, etc.

Segment Assets of the Global Business*1 by Region(2Q FYE3/2023)
OthersASEAN 0.2%
9.1%
China
8.3%
Total
Europe2,577.0
47.2%
Billion Yen

Americas35.2%*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. end of FYE3/2022

11

Focused Business Domains

Environment, Energy & Infrastructure
Major Figures (Billion Yen)
2Q
FYE3/2022*1

2Q
FYE3/2023



6.0

7.4

+1.4

Segment Profit

1.1

5.4

+4.2

New Transactions Volume

20.2

25.8

+5.5

Segment Assets

417.9

430.4

+12.5

98.0

95.4

-2.5

226.4

232.5

+6.1

90.2

99.9

+9.7

3.2

2.5

-0.7

Others

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

GlobalAssets

Segment profit increased YoY thanks to an increase inprofits from equity-method investments accompanied withstarting commercial operation of a wind power generation
project in Europe, sales of equity interests in certain
infrastructure projects, and other factors.
Segment assets increased compared to the end of
FYE3/2022 thanks to closing of large transactions indomestic solar power projects and overseas
infrastructure-related projects, the impact of the exchange
rates, etc.

(1) Renewable Capacity
in Operation

FYE3/2022

2Q
FYE3/2023

Change from
FYE3/2022

1,227

1,367

+139

Solar Power

951

1,011

+60

Domestic

934

981

+46

Overseas

16

30

+13

Wind Power

273

337

+63

Domestic

190

190

-

Overseas

83

147

+63

2

18

+16

OthersMobility

Equity-owned Power Generation Capacity of Renewable Energy
Generation Business (2Q FYE3/2023)

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

Total

Sales
Finance

Comments
YoY*2

Gross Profit

Finance
Environment and Energy
Business
Infrastructure BusinessSocialEnvironment
Infrastructure& Energy& LifeOthers1.3%

Wind Power
24.7%(2) Including Projects underDevelopment

Others2.6%

Wind Power
29.3%

Total
1,367MW
Solar Power
74.0%

Total
1,650MW
Solar Power
68.1%*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

12

Focused Business Domains

Aviation

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

2Q
FYE3/2023

Mobility

GlobalAssetsComments
YoY*2



Gross Profit

19.8

11.2

-8.6

Segment Profit

4.1

-2.7

-6.9

New Transactions Volume

68.5

83.0

+14.4

1,365.1

1,639.0+273.9Aircraft Leasing (JSA)

995.1

1,205.5+210.4

Engine Leasing (ELF)

299.5

362.5

+62.9

Aircraft Leasing, etc. (MHC)

70.4

71.0

+0.5

Segment Assets

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

Owned Aviation-related Assets*3*4

Gross profit decreased YoY due to the absence of gains
on revaluation of certain receivables from bankrupt
debtors recorded in 2Q FYE3/2022, the posting of an
impairment loss, etc., despite the recovery trend in thebusiness, such as an increase in lease revenue
accompanied with the market recovery, etc.
A segment loss was recorded due to an increase in
exchange revaluation losses on foreign currencydenominated borrowings in JOLCO*5, despite a decreasein credit costs.
In our aircraft leasing business, the aircraft off-leasing ratio
as of the end of September 2022 remained low.

Owned Aviation-related Assets (2Q FYE3/2023)

FYE3/2022

2Q
FYE3/2023

Change from
FYE3/2022

Number of Aircraft (JSA)

191

193

-

Number of Aircraft
Purchased

22

5

-

Number of Aircraft Sold

8

3

-

Average Age (JSA)

4.5 years

4.7 years+0.2 years

Average Leasing Term (JSA)

7.3 years

7.1 years-0.2 years

Number of Aircraft Engines
(ELF)

341

345

+4

*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
7.4%

Middle East & Others
7.5%

Others
11.4%

Total
193
Aircraft
Narrow Body*⁶
88.6%

Europe
23.7%

Total
193
Aircraft

Asia/Oceania
30.5%

Americas38.4%

Europe18.1%

Total
Americas345
Engines 48.1%

Asia/Oceania
26.3%

13

Focused Business Domains

Logistics

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

2Q
FYE3/2023

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

3.9

17.4

+13.4

Segment Profit

0.9

9.1

+8.2

New Transactions Volume

36.7

35.5

-1.2

1,026.7

1,183.3+156.6

Marine Containers

736.5

852.7

+116.2

Railway Freight Cars

223.2

275.8

+52.6

Shipping

66.9

54.7

-12.2

Segment Assets

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

Segment profit increased YoY thanks to profit
contribution from CAI, a marine container leasing
company in the U.S. that became our wholly-owned
subsidiary in November 2021, the steady
performance of BIL, etc.
 Segment assets increased compared to the end of
FYE3/2022 thanks to the impact of the exchange
rates, etc., despite the decline in owned fleets
resulted from sales of used marine containers.
Trend of Marine Container Fleet (TEU 1,000)*6

Owned Logistics-related Assets*3
FYE3/2022

2Q
FYE3/2023

Change from
FYE3/2022

Marine Container Fleet(TEU 1,000*4)

3,492

3,482

Marine Container Fleet(CEU 1,000*5)

3,701

3,697

-3

Number ofRailway Freight Cars

21,81822,374

+556

-10

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

3,482

FYE3/2022

2Q 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 the basisof 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)

2Q
FYE3/2022*1

YoY*2

Segment Profit

14.8
5.5

+5.0
+1.6

New Transactions Volume

46.5

33.8

-12.6

Segment Assets

712.7
145.7
121.2
24.5
56.8
39.6
17.2

671.0
143.8
119.8
24.0
62.3
41.3
20.9

-41.6
-1.9
-1.4
-0.4
+5.4
+1.6
+3.7

193.0

165.4

-27.5

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

85.5

79.9

-5.6

231.4

219.4

-11.9

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

2Q
FYE3/2023

Change from
FYE3/2022

124.2

115.0

-9.1

Domestic Securitization

33.6

32.9

-0.6

Real Estate Revitalization
Investment

90.5

82.1

-8.4

Total



GlobalAssets

Segment profit increased YoY thanks to an increase ingains on sales of assets for revitalization investment andfor rental business, etc., while credit costs were posted
for a certain project in the U.S.
Segment assets decreased compared to the end of
FYE3/2022 because of the sales of assets forrevitalization investment and for rental business, etc.

Amount of Equity Contribution for Domestic Securitization/
Real Estate Revitalization Investment*4*5 (2Q FYE3/2023)(1) By Asset Type
Residence
2.1%

Others10.5%

Logistics
17.6%

Hotel
25.1%

Total
115.0
Billion Yen

Commercial
Facility
20.3%

Amount of Equity Contribution for Domestic Securitization/
Real Estate Revitalization Investment*4*5 (Billion Yen)
FYE3/2022

Mobility

Comments

2Q
FYE3/2023

9.7
3.9Gross Profit

Sales
Finance

Office24.4%(2) By Region
NagoyaMetropolitan
District
8.4%

Others
10.1%

Osaka
Metropolitan
District
26.5%

Total
115.0
Billion Yen

Tokyo
Metropolitan
District
55.0%*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 41.3 billion yen for 2Q FYE3/2023. Those for real estate revitalization investment are
193.0 billion yen for FYE3/2022 and 165.4 billion yen for 2Q FYE3/2023

15

Focused Business Domains

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

2Q
FYE3/2023

Sales
Finance

Mobility

GlobalAssetsComments
YoY*2

Gross Profit

4.3

4.7

+0.3

Segment Profit

1.9

2.3

+0.4

New Transactions Volume

15.5

13.6

-1.9

Segment Assets

129.4

128.6

-0.8

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

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 decreased compared to the end of
FYE3/2022 due to the decline in the newtransactions volume as a result of delays in new car
supply, responding to the shortage ofsemiconductors.

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

358

2Q
FYE3/2023
355

Change from
FYE3/2022-2*3 Management accounting figures*4 Including the number of operational vehicles of equity-method affiliates

16IV. Financial Forecast for FYE3/2023

17

Macro Environment

Macro Environment

Impact ofFluctuations inInterest Rates andExchange Rates

Impact of theMacro Environment
on Businesses

 Shown as the IMF’s downward revision of the world economic outlook, the uncertainties in the external
environment is growing against the backdrop of the prolonged Ukraine situation*1, steep rises in resource prices,
inflation, interest rate rises in Europe and the U.S., etc.

 There is no major impact of the increase in interest rates to profits, as we have built a strong financial structure
resistant to the increase in interest rates through the ALM*2 on a consolidated basis.
 Foreign currency denominated assets are funded in the same currency in principle and we have not taken any
foreign exchange risks. However, the weak yen has caused the increases in the profit on conversion into yen(a factor of boosting profit) and in exchange revaluation losses on foreign currency-denominated borrowings in
JOLCO*3 (a factor of depressing profit), etc.

 In the results for the first half of FYE3/2023, the businesses conducted by subsidiaries in Europe and Americas
in the Global Business segment and marine container leasing business grew YoY.
Credit costs decreased YoY in the Global Business and Aviation segments.
 Meanwhile, as the risk of recession has been increasing mainly in Europe and the U.S., we will continue
appropriate risk management while keeping a close eye on the impacts on our businesses, such as theperformance of our customers, global air passenger demand, and volume of container transport.

*1 Receivables in Russia and Ukraine that are held by MHC are minor at the moment, thus the impact on businesses for MHC is limited
The aircraft leasing business and aircraft engine leasing business have no receivables in Russia and Ukraine(However, in aircraft engine leasing business, 4 engines leasing to companies outside these countries, are located within Russia as of November 10, 2022)*2 Abbreviation of Asset Liability Management*3 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 (please refer to the footnote 4 on page 6 for details)

18

Financial Forecast for FYE3/2023
 The progress against the financial forecast for FYE3/2023 (net income: 110.0 billion yen) was high at 57.4%, thanks to curbing credit
costs in the Global Business and Aviation segments and other factors, in addition to the profit contribution from CAI, a marine container
leasing company in the U.S., and the business growth of subsidiaries in Europe and Americas.
 Our financial forecast remains unchanged due to the growing uncertainties in the external environments, such as the prolonged Ukraine
situation, steep rises in resource prices, inflation, interest rate rises in Europe and the U.S., the weak yen, and other factors.

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 November 10, 2022
*4 The assumed foreign exchange rates are $1=¥120, £1=¥158, €1=¥134

19

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 start in April 2023.
 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

20

V. Appendix

21

Reorganization of Group Companies to Enhance Competitivenessof Marine Container Leasing Business As announced on October 18, 2022, Executive Committee resolved the merger of CAI and BIL, both of which operate amarine container leasing business, with CAI being the surviving company and BIL being the merged company. (The merger isscheduled to come into effect on January 1, 2023.)
 Through this merger, the new company will be among the highest in the world in terms of quantity of marine containers. We
intend to further strengthen and expand the business to make it a leading force that supports the medium- to long-term growthof MHC by integrating knowledge of the former two companies and incorporating the growth opportunity of this business.
New Company Overview

Share of the Global Marine Container Leasing Market*1 (CEU*2-basis)

 The new company will be the third largest company in the global
marine container leasing market in terms of CEU.

Others14.0%

CompanyA
26.4%

CompanyE
6.1%
Company
D
11.7%

Name

CAI International, Inc.

Head
OfficeSteuart Tower, 1 Market Plaza, Suite 2400,
San Francisco, CA

Share of the Global
Marine Container
Leasing Market(As of end-Dec. 2021)
CompanyB
15.2%

Company
C
13.0%

13.6%

*1 (Source) Drewry “Container Census & Leasing Annual Report 2022/23”*2 CEU: Cost Equivalent Unit
(Conversion unit for various container volumes, calculated on the basis of 1 CEU = average
historical price of a newly built 20-foot dry container)

22

Establishment of the Human Rights Policy
 We established the “Human Rights Policy” in accordance with the United Nations” Guiding Principles on Business and Human
Rights”, and announced the policy in October 2022.

Preamble of the Human Rights Policy
 We at the Mitsubishi HC Capital Group recognize that conducting business with the utmost respect of humanrights is a major challenge, and we will fulfill our responsibilities in this matter across all our business activities.
 Through dialogue and collaboration with relevant stakeholders, we will exclude exploitative labor practices suchas modern slavery, forced labor, human trafficking, and child labor, from the businesses and supply chains of the
Mitsubishi HC Capital Group.
 We will address human rights risks relevant to our businesses earnestly and appropriately to fulfil our obligations
to respect human rights in a manner expected of global companies, aiming to realize a society that respects
human rights.
 We will realize a flexible working style and respect a diversity of values, and strive to create a comfortable working
environment in which each and every individual can demonstrate their maximum potential.

Visit the website below to learn more about our “Human Rights Policy”.
https://www.mitsubishi-hc-capital.com/pdf/english/sustainability/various_policies/human_rights_policy.pdf

23

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

24

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

3,245.6

20.6

2,316.3

41.2

2,577.0

23.6

417.9

2.2

430.4

5.4

AviationG

1,365.1

5.6

1,639.0-2.7

Logistics

H

1,026.7

0.8

1,183.3

9.1

Real Estate

E

712.7

12.3

671.0

5.5

129.4

3.1

128.6

2.3

39.3

1.1

35.0

-0.8

9,345.3

99.4

9,910.2

63.1

Mobility

Adjustments

Adjustments

Total

Total

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

B

Customer Solutions

Segment
Profit2Q
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

25

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 Division26

Our 10-year Vision
 We will achieve “Our 10-year Vision” by implementing Medium-term Management Plans in three phases. The new Medium-termManagement Plan starting in FYE3/2024 is set as phase one, ‘hop’, followed by the Management Plans as phase two, ‘step’, and phase
three, ‘jump’.
 Our expected target of ROA*1 is approx. 1.5% and of ROE*1 is approx. 10% for FYE3/2026, the final fiscal year of the “hop” phase. The
expected target of payout ratio for the period of the new Medium-term Management Plan is aimed to be approx. 40%.

Our
10-year
VisionTogether we innovate, challenge and explore the frontiers of the future To achieve our mission, continue to be an “innovator (who ventures into unexplored
fields and creates innovation)” who challenges the frontiers of the future without beingbound by precedents.
 Anticipate the changes in society and the business environment including changes in
global industrial structures, accelerating digitalization and increasing importance ofsustainability, and continue addressing social issues that can be solved only by MHC
through approaches such as SX (sustainability transformation) and DX (digitaltransformation) with customers and partners.

1stMedium-term Management Plan

2nd
Medium-term Management Plan

3rd
Medium-term Management Plan

Hop

Step

Jump

FYE3/2022

FYE3/2023*2

FYE3/2024

FYE3/2026

ROA*1

1.0%

1.1%

・・・

Approx. 1.5%

ROE*1
Payout Ratio

8.0%
40.4%

8.2%
40.5%

・・・

Approx. 10%

FYE3/2029

FYE3/2032

Approx. 40%(during the period of new Medium-term Management Plan)*1 ROA and ROE are based on net income*2 Figures for FYE3/2023 are forecasts (as of November 10, 2022)[Expected target]27

Medium- to Long-term Management Direction:
Toward Our 10-year Vision Achieve “Our 10-year Vision” by promoting CX through “SX / DX” and “Business Portfolio Transformation”.
 We can achieve “Customer Experience” by implementing “Corporate Transformation”.

External Environment

Medium- to Long-termManagement Direction

Megatrends

CX（Corporate Transformation / Customer Experience）

Climate Change
Expansion and
Evolution ofTechnology

SX(Sustainability
Transformation)

Business
Portfolio
Transformation

Demographics
Wealth Disparities

With/Post COVID-19

DX

Our 10-year Vision

Geopolitics
and Economy(Digital
Transformation)

Economic Security

28

Medium- to Long-term Management Direction: Implementing CX
CX(Corporate Transformation / Customer Experience)

SX / DX

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

I
S
X

Achieve “co-existence and co-prosperity
with environmental and social values”
and “sustainable growth” through efforts
for materiality and solid management
base.

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

II

Achieve “creation and qualitative
D improvement of customer value” by
X utilizing data and digital technologies andmaking strategic investments.

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

III

29

Segment Profit (by Quarter)F
Y

FYE3/2022(Billion Yen)
1 Customer Solutions
2 Global Business
3 Environment, Energy & Infrastructure
4 Aviation
5 Logistics
6 Real Estate
7 Mobility
8 Adjustments
9 Total Segment Profit

1Q

2Q
8.3
24.2
0.8
-2.4
0.0
1.1
0.9
0.0
33.1

FYE3/2023
1Q

10.0
5.1
0.2
6.6
0.8
2.7
0.9
0.6
27.3

2Q
11.2
10.2
1.9
-0.9
4.6
2.6
1.3
0.8
32.0

QoQ
9.3
13.3
3.5
-1.8
4.5
2.8
1.0
-1.6
31.1

YoY
-1.9
+3.1
+1.5
-0.9
-0.1
+0.2
-0.3
-2.5
-0.9

-0.6
+8.2
+3.2
-8.5
+3.6
+0.1
0.0
-2.3
+3.8

Notes (Pre-tax Basis)
2Q FYE3/2022(Billion Yen)
1

Customer
Solutions2

GlobalBusiness

3

Environment,
Energy &Infrastructure

1Q： Large gains on sales related to real estate leasing: approx. JPY2.0Bn (+)--

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

2Q： Market valuation losses in the infrastructure business:
approx. JPY2.0Bn (-)

1Q： Expenses related to modification of terms for certain existing contracts:
approx. JPY2.0Bn (-)

4

Aviation

2Q FYE3/2023

Exchange revaluation losses in JOLCO:* approx. JPY2.0Bn (-)
2Q： Gains on revaluation of certain receivables from bankrupt debtors:
approx. JPY7.0Bn (+)-

Non-operating income in a certain deal (insurance claim income):approx. JPY1.0Bn (+)
2Q： Gains on revaluations of the securities held by an European subsidiary as they
were excluded from the scope of application of the equity method:
approx. JPY7.0Bn (+)
1Q： Increases in profit from equity-method investment in a wind power generation
project in Europe: approx. JPY1.0Bn (+)
2Q： Sales of equity interests in certain projects in the infrastructure business:
approx. JPY2.0Bn (+)

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

1Q： Gains on sales of owned assets: approx. JPY1.0Bn (+)
1Q： Gains on sales of owned assets: approx. JPY4.0Bn (+),
Large credit costs: approx. JPY2.0Bn (-)
2Q： Gains on sales of owned assets: approx. JPY2.0Bn (+)
6 Real Estate
2Q： Gains on sales of owned assets: approx. JPY3.0Bn (+)
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)

5

Logistics

30

New Transactions Volume by Segment(Billion Yen)

2Q FYE3/2022

2Q FYE3/2023

YoY Change

YoY Change (%)

1

Customer Solutions

431.2

434.5

+3.3

+0.8%

2

Global Business

528.2

651.8

+123.6+23.4%

3

Environment, Energy &Infrastructure

20.2

25.8

+5.5

+27.3%

4

Aviation

68.5

83.0

+14.4

+21.1%

5

Logistics

36.7

35.5

-1.2

-3.3%

6

Real Estate

46.5

33.8

-12.6

-27.2%

7

Mobility

15.5

13.6

-1.9

-12.2%

8

Total New Transactions
Volume1,147.2

1,278.4+131.1+11.4%

31

Credit Costs by Segment(Billion Yen)

2Q FYE3/2022

2Q FYE3/2023

YoY Change

1

Customer Solutions

0.7

-0.6

-1.4

2

Global Business

7.0

2.1

-4.8

3

Environment, Energy &Infrastructure

0.2

1.0

+0.8

4

Aviation

5.8

1.4

-4.4

5

Logistics

-0.1

0.0

+0.1

6

Real Estate

0.0

2.3

+2.4

7

Mobility

0.0

0.0

0.0

8

Adjustments

0.0

0.0

0.0

9

Total Credit Costs

13.6

6.4

-7.2

32

Financial Performance: Profit & Loss Statement
2Q FYE3/2021*

2Q FYE3/2022

2Q 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

827,064
682,508
48,519144,556
97,76445,51540,38911,85946,791
50,3865,590
736,905-

833,358+0.8%
672,183-1.5%
37,717-22.3%
161,175+11.5%
103,024+5.4%
47,914+5.3%
40,655+0.7%
14,453+21.9%
58,151+24.3%
59,089+17.3%
27,274+387.9%229+2,989.7%
60,482+63.9%

944,732+13.4%
766,790+14.1%
57,683+52.9%
177,941+10.4%
103,802+0.8%
54,176+13.1%
41,390+1.8%
8,235-43.0%
74,139+27.5%
75,771+28.2%
9,060-66.8%
370+61.4%
63,176+4.5%(Note) Percentage figures (%) in the lower column are YoY* Figures for 2Q 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

33

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 by doubling the net income for 2Q FYE3/2023

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%-

2Q FYE3/2023(end-Sep. 2022)
678,455+25.4%
1,558,866+16.9%
11,154,540+8.0%
9,910,251+6.0%
9,584,950+5.8%
159,750+12.1%
165,550+14.5%
120,220+11.1%
83,468+8.7%
36,752+17.1%
13.8%+1.1pt
8.9%*3+0.9pt
1.2%*3+0.2pt34

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)

2Q FYE3/2023(end-Sep. 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%

8,691,400+7.8%
5,029,518+11.4%
3,661,882+3.1%
698,309+2.3%
617,097+2.1%
2,346,474
+3.6%

45.1%
66.8%
43.1%
-

44.0%
-1.1pt65.6%-1.2pt49.4%+6.3pt42.1%-1.9pt63.2%-2.4pt51.5%+2.1pt(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

2Q FYE3/2022*3

2Q FYE3/2023

2Q FYE3/2022*3

2Q FYE3/2023

23

Exchange Rate Applied to PL$1＝JPY107.69$1＝JPY122.89£1＝JPY152.50$1＝JPY109.80£1＝JPY162.89$1＝JPY133.97

24

Exchange Rate Applied to BS$1＝JPY115.02$1＝JPY136.68£1＝JPY160.89$1＝JPY122.39£1＝JPY161.72$1＝JPY144.81*2 Major overseas subsidiaries with⇒ Average exchange rates during Jan. through Jun. applied to PL
FY ending in December
FYE3/2022 BS: exchange rate as of end-Dec. 2021 is applied
2Q FYE3/2023 BS: exchange rate as of end-Jun. 2022 is applied
Major overseas subsidiaries with⇒Average exchange rates during Apr. through Sep. applied to PL
FY ending in MarchFYE3/2022 BS: exchange rate as of end-Mar. 2022 is applied
2Q FYE3/2023 BS: exchange rate as of end-Sep. 2022 is applied*3 Exchange Rate Applied to BS is that for FYE3/2022 BS

35

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

ASEAN

Main Business

Major Companies

EuropeCustomer
Solutions

Major Companies

Consolidated/
Equity-method

Segment(Note) Company names are as of November 10, 2022 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.

36

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

Takari Kokoh Sejahtera

Consolidated

Auto leasing

Mitsubishi Auto Leasing

Equity-method

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

CAI International <CAI>

Consolidated

Marine container leasing

Beacon Intermodal Leasing <BIL>

Consolidated

Marine container leasing

PNW Railcars

Consolidated

Railway Freight car leasing

Logistics

Mitsubishi HC Capital/
Mobility Business Department

Mobility(Note) Company names are as of November 10, 2022 and words inside of “< >” denote abbreviations of companies

37Inquiries

Corporate Communications Department
I

Inquiries
TEL： +81 3-6865-3002

II

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

38