FY3/2022 3rd Quarter Results
Mitsubishi HC Capital Inc.
February 10 , 2022

IndexI.

FY3/2022 3rd Quarter Results

II. Segment Updates
III. Forecast for FY3/2022
IV. Management Plan
V. Appendix【Results of FY3/2021 3Q and FY3/2021 in this material】
The company (the former Mitsubishi UFJ Lease & Finance Company Limited (MUL)) executed the business integration with Hitachi Capital
Corporation (HC) and changed the trade name to Mitsubishi HC Capital Inc. (MHC) on April 1, 2021. Therefore, both results of FY3/2021
3Q and FY3/2021 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.

1

I. FY3/2022 3rd Quarter Results2

Highlights
Increased YOY in each profit stageGross profit for FY3/2022 3Q increased by 8.1% YOY to 239.2 billion yen, and net income increased by
20.8% YOY to 75.7 billion yen thanks to the business growth mainly in Europe and the U.S., along withother factors.



New transactions volume increased by 8.3% YOY to 1,803.4 billion yen.

PMI and the formulation of management plan are steadily progressing

PMI has progressed smoothly and we have been accelerating process of integration since 2nd half of
FY3/2022. Investment synergy has also been actualized.
November 2021： Completed the acquisition of CAI, a U.S. leading marine container leasing company.



December 2021： Identified and announced the materiality, which is the first step of sustainability management.
Updated the Corporate Governance Report.



We are deepening discussions among management team members toward realizing “Our Mission”.
Prior to the start of the New Medium-term Management Plan (starting from April 2023), we will announce“the medium- to long-term management direction” in May 2022.

* Figures for the sum of consolidated results of MUL and those of HC (IFRS basis) converted into J-GAAP basis in a simplified manner,which are presented as reference values. Therefore, YOY figures are those compared to reference values.

3Actual Results
 The cumulative gross profit for FY3/2022 3Q increased by 8.1% YOY to 239.2 billion yen and the cumulative net income attributable toowners of the parent for FY3/2022 3Q increased by 20.8% to 75.7 billion yen, thanks to the continuous business growth mainly in Europe
and the U.S., along with other factors.
 The progress rate against the forecast for FY3/2022 (net income: 95.0 billion yen) was 79.7%.
(a)

(b)

(c)

FY3/2021 3Q*4

(Billion Yen)

MUL

1
2
3
4
5
6

Revenues
Gross Profit
Operating Income
Recurring Income
Net Income*1
New Transactions Volume

704.0
122.8
50.3
52.7
40.7
751.1

7

Total Segment Assets*2

5,336.6*6

8

ROE

9
10

ROA (Net Income Attributable to
Owners of the Parent on Total Assets)

OHR*3(Reference)
HC
569.3
98.5
25.5
29.3
21.9
914.6

(Reference)
Simple Sum
1,273.3
221.3
75.8
82.1
62.7
1,665.8

3,268.1*6

8,604.8*6(d)(e)=(d)-(c)FY3/2022
3Q

YOY Change

1,312.9
239.2
81.6
82.2
75.7
1,803.4

+39.6
+17.8
+5.7
+0.1
+13.0
+137.69,130.0+525.1*7

7.0%*8--

8.4%*9-0.9%*8--

1.0%*9

-

63.2%

56.2%

50.4%

56.1%

-0.1P

(f)

(g)=(e)/(c)Exchange
Rates
Effects*5
+16.1
+6.2
+2.1
+2.1
+1.7
+64.8

YOY Change(%)+198.0+6.1%*7

+3.1%
+8.1%
+7.6%
+0.2%
+20.8%+8.3%<ROE and ROA>
Calculated using the annualized
net income formulated by multiplying thenet income by 4/3 and equity or total
assets adjusted upon the integration, etc.
(refer to *8 and *9 below for details)*1 Quarterly net income attributable to owners of the parent*8 Numerator:
annualized net income formulated by multiplying the net income for FY3/2021
3Q by 4/3 that was retroactively adjusted along with the change in the*2 “Operating assets” + “equity method investments” + “goodwill” + “investment securities, etc.”(refer to page 26 for details)
accounting method
Denominator: average of FY3/2020 equity and FY3/2021 3Q equity or of FY3/2020 total*3 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
assets and FY3/2021 3Q total assets, that were retroactively adjusted alongwith the change in the accounting method*4 For MUL, figures are retroactively adjusted along with the change in the accounting
method; (refer to page 26 for details)*9 Numerator:
annualized net income formulated by multiplying the net income for FY3/2022
For HC, figures for IFRS basis converted into J-GAAP basis in a simplified manner, which
3Q by 4/3
are presented as reference values
Denominator: average of FY3/2022 3Q equity and FY3/2021 equity (calculated by adding up
J-GAAP-based reference figures of the former 2 companies and making*5 Effects of changes in exchange rates to be applied when incorporating results ofoverseas subsidiaries (refer to page 32 for details)
adjustment upon the integration) or of FY3/2022 3Q total assets and FY3/2021
total assets (calculated by adding up J-GAAP-based reference figures of the*6 FY3/2021
former 2 companies and making adjustment upon the integration)*7 Change from FY3/2021

4

Increase/Decrease in Net Income
Attributable to Owners of the Parent
(2)
+17.5

(Billion Yen)

Net Income
+13.0

(4)
+2.3

(1)
+12.1

▲5.4
(3)

▲8.9
(5)

62.7

▲4.7

(6)

21.9*275.7
40.7*1

FY3/2021
3Q(Reference)

Business Growth*3

Extraordinary
Income/Loss

MUL Result*1

Credit Costs

HC Result*2

Expenses Related
to the Business
Integration

OperatingExpenses*4

Positive Factor

OthersFY3/2022
3Q

Negative Factor(1) Business Growth*3

 Increased YOY thanks to business growth of subsidiaries in Europe and the U.S. in the Account Solution segment and of BIL, a marine
container leasing company, etc.

(2) Extraordinary
Income/Loss Increased YOY thanks to the sale of strategic shareholdings to replace the portfolio, etc.

(3) Credit Costs

 Increased YOY due to the posting of expenses on payment deferrals by some customers in the aviation and infrastructure-related
business, etc.

(4) Expenses Related to theBusiness Integration

 Decreased YOY thanks to the absence of due diligence expenses, etc. (6.4 billion yen in total for the former two companies) posted in
3Q of the previous fiscal year, despite posting of expenses related to trade name change and to systems, etc. (4.1 billion yen)(5) Operating Expenses*4

 Increased YOY due to expenses associated with the promotion of business activities primarily in overseas offices and the acquisition
cost of CAI, a marine container leasing company (1.5 billion yen), etc.

(6) Others

 An increase in tax expenses, etc.

Note: (1) to (5) are based on figures before tax. Tax expenses are included in (6)*1 The figure for MUL is retroactively adjusted along with the change in the accounting method (refer to page 26 for details)*2 HC’s quarterly net income attributable to owners of the parent (IFRS basis) converted into J-GAAP basis
in a simplified manner, which is presented as a reference value*3 Gross profit + non-operating income/expenses (however, non-operating income/expenses do not include gain on
bad debts recovered)*4 Excluding expenses related to the business integration

5

II. Segment Updates

6Focused Business Domains
 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 developed with 10 segments below.
 We contribute to a prosperous and sustainable future by creating social value through maximizing the potential of assets.

Focused Business Domains
Social Infrastructure &Life

Targets

 Target: Social
infrastructure related toindustrial
infrastructure/lifestyles
 Provide value toward therealization of more
prosperous lives byimplementing real estate
financing, business
operation, and social
infrastructure investment

Environment &Energy Target: All aspects ofenergy creation, energy
storage, and energy
conservation (mainly
renewable energy)
 Develop joint businesswith strategic partners in
addition to project
investment and financing

Sales Finance

Mobility

Global Assets

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

 Achieve advancements todeliver data-driven
solutions Promote diverse asset
business based on
operating leases

 Accelerate labor-savingand streamlining throughdigitalization

Segments

Customer BusinessAccount Solution
Environment &Renewable Energy

LIFE
Real Estate

Vendor Solution

Mobility

Aviation
Logistics

Others7

Increase/Decrease in Segment Profit and Assets
 From FY3/2022, reporting segments of MUL and HC are integrated and reorganized. (Refer to page 25 for details)
Segment Profit (Quarterly Net Income Attributable to Owners of the Parent by Segment)

0.7(Billion Yen)

FY3/2021
3Q(Reference)
Total：62.7

17.5

14.2

3.3 3.0

21.8

4.7

0.0

FY3/2022
3Q

32.8

21.1

2.4 4.0

1.3
4.4 2.3▲3.9 ▲1.8
1.6

11.1

Total：75.7
Customer BusinessAccount Solution

Vendor Solution

Segment Profit(Billion Yen)

4.6 0.7 ▲8.1

FY3/2021 FY3/2022
3Q
3Q

YOY

LIFE

Real Estate

Segment Assets
ChangeFY3/2022
FY3/2021
from3Q
FY3/2021

Customer Business

17.5

32.8

+15.3

2,129.5

1,999.2-130.2

Account Solution

14.2

21.1

+6.9

2,109.2

2,202.4+93.2

Vendor Solution

3.3

2.4

-0.9

434.4

430.9

-3.4

LIFE

3.0

4.0

+1.0

321.8

303.4

-18.3

Real Estate

21.8

11.1

-10.6

955.6

943.7

-11.8

Environment &Renewable Energy

4.7

4.4

-0.3

322.4

328.4

+6.0

Aviation

4.6

2.3

-2.2

1,203.8

1,360.7+156.8Logistics

0.7

1.3

+0.6

545.5

1,045.2+499.7

Mobility

0.7

1.6

+0.9

161.1

167.4

+6.3

Others

0.0

-3.9

-4.0

355.7

341.0

-14.7

Adjustments

-8.1

-1.8

+6.3

65.4

7.1

-58.3

Total

62.7

75.7

+13.0

8,604.8

9,130.0+525.1

Environment & Renewable Energy

Aviation

Logistics

Mobility

OthersAdjustments

Major Factors for Changes in Segment Profit

Increased thanks to business growth of ENGS, a U.S. sales finance company, and to the sale of strategic
shareholdings, etc.
Increased thanks to business growth mainly in Europe and the U.S., etc.
Decreased due to a decline in new transactions volume and segment assets in the previous fiscal year, etc.
Increased thanks to the sale of logistics facilities in real estate-related business, etc.
Decreased due to a reactionary fall in gains on sales that were posted in FY3/2021 3Q, etc.
Decreased due to a reactionary fall in solar energy-related gains on sales that were posted in FY3/2021 3Q,
etc., despite an increase in electricity sales revenue
Decreased due to the posting of credit costs, foreign exchange losses and impairment losses, etc.
Increased thanks to business growth of BIL, etc., while posting the acquisition cost of CAI (1.5 billion yen)
Increased thanks to favorable sales of used vehicles in Japan and overseas
Decreased due to the posting of credit costs on payment deferrals in infrastructure-related business, etc.
A decline in expenses associated with advanced funding posted in FY3/2021 3Q and in expenses related tothe business integration, etc.

* Refer to page 33 and 34 for details of subsidiaries (abbreviation, etc.)8Focused Business Domains

Customer BusinessSocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Sales
Finance

Mobility

GlobalAssetsComment
Gross profit increased YOY thanks to the business growth of ENGS, a

Gross Profit

45.0

46.9

+1.8

Segment Profit

17.5

32.8

+15.3

New Transactions Volume

440.3

416.8

-23.5

shareholdings, which was executed in 1Q aiming to replace theDomestic

320.9

299.3

-21.5

portfolio.

Overseas

119.4

117.4

-1.9

North America

60.1

78.3

+18.2

ASEAN

30.0

18.8

-11.1

China Region

25.8

20.2

-5.5

Others

3.5

-

-3.5

Segment Assets

2,129.5

1,999.2-130.2

Domestic

1,700.4

1,606.3-94.0

Overseas

429.1

392.9

-36.2

North America

202.3

221.8

+19.4

ASEAN

107.9

91.8

-16.0

China Region

73.9

70.2

-3.6

Others

44.9

8.9

-36.0

U.S. sales finance company, despite the impact of the deconsolidationof Hirogin Lease, etc.
Segment profit increased YOY thanks to the sale of strategic

Segment assets decreased vs. end of FY3/2021 due to the impact of
the sale of strategic shareholdings and a decrease in new transactions
volume, etc.

Segment Assets of Customer Business by Region (FY3/2022 3Q)

Overseas
19.7%

China Region
3.5%
ASEAN
4.6%

Others0.5%

North America
11.1%
Total
1,999.2
Billion Yen

Domestic
80.3%

Japan
80.3%

*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

9Focused Business Domains

Account Solution

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Gross Profit

57.9

74.5

+16.5

Segment Profit

14.2

21.1

+6.9

Domestic

2.5

4.1

+1.6

Overseas

11.7

16.9

+5.2

Europe

8.1

12.7

+4.6

The Americas

2.1

3.8

+1.6

China

1.2

-0.4

-1.7

ASEAN

0.1

0.7

+0.6

New Transactions Volume

627.0

777.4

+150.3

Domestic

109.1

100.1

-9.0

Overseas

517.9

677.3

+159.4

Europe

330.2

445.8

+115.6The Americas

111.9

142.2

+30.3

China

46.7

54.0

+7.3

ASEAN

29.0

35.1

+6.1

2,109.2

2,202.4+93.2

Domestic

528.1

491.3

-36.8

Overseas

1,581.0

1,711.1+130.0Europe929.7

1,010.9+81.1

The Americas

365.1

441.3

+76.2

China

164.6

145.6

-18.9

ASEAN

121.5

113.1

-8.3

Segment Assets

Sales
Finance

Mobility

GlobalAssetsCommentSegment profit increased YOY as a result of the business growththanks to the proactive business operations mainly in Europe and theU.S.



New transactions volume dramatically increased YOY in Europe
thanks to the recovery from a decline in demand affected by the
lockdown in the UK in FY3/2021 3Q.

Segment assets increased vs. end of FY3/2021 thanks to the increasein new transactions volume in Europe and the U.S., etc.

Segment Assets of Account Solution by Region (FY3/2022 3Q)

China
6.6%
The Americas
20.1%

ASEAN
5.1%

Domestic
22.3%
Japan
22.3%
Total
2,202.4
Billion Yen

Overseas77.7%

Europe45.9%*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

10

Vendor Solution

Focused Business Domains
SocialInfrastructure& LifeEnvironment& Energy

Sales
Finance

Mobility

GlobalAssetsLIFE

Comment

CommentSegment profit decreased due to a decline in new transactions volume
and segment assets in FY3/2021, etc.

Focused Business Domains
SocialEnvironment
Infrastructure& Energy& LifeSales
Finance

Mobility

GlobalAssetsSegment profit increased YOY thanks to a decrease in expenses in
addition to the sale of logistics facilities.

New transactions volume increased YOY thanks to the improvementof investment demand among customers.



New transactions volume decreased YOY due to the reactionary fall inlarge real-estate transactions posted in FY3/2021 3Q.

Major Figures (Billion Yen)

Major Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Gross Profit

12.0

11.4

-0.5

Gross Profit

10.6

12.0

+1.4

Segment Profit

3.3

2.4

-0.9

Segment Profit

3.0

4.0

+1.0

New Transactions Volume

97.6

104.1

+6.5

New Transactions Volume

147.8

114.8

-32.9

Segment Assets

434.4

430.9

-3.4

Segment Assets

321.8

303.4

-18.3

Leasing

347.4

340.8

-6.6

Real Estate-related

174.6

164.4

-10.1

Finance Leasing

337.8

337.8

0.0

Leasing

166.8

153.5

-13.3

Operating Leasing

9.5

2.9

-6.6

Securitization (Equity)

7.7

10.8

+3.1

Installment

13.8

12.8

-0.9

Others*3

147.2

139.0

-8.2

Loans

40.9

40.3

-0.6

Others

32.1

36.9

+4.7

*3 Includes PPP/PFI, food and agriculture, and living essentials industry, etc.

*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

11

Focused Business Domains

Real EstateSocialInfrastructure& LifeEnvironment& Energy

Sales
Finance

Mobility

GlobalAssetsEnvironment &Renewable
EnergyComment

CommentSegment profit decreased YOY due to the reactionary fall in large
gains on sales and the absence of compensation received inassociation with a redevelopment project, etc. that were posted in
FY3/2021 3Q.

Sales
Finance

GlobalAssetsMobility

Segment profit decreased YOY due to the reactionary fall in solar
energy-related gains on sales that were posted in FY3/2021 3Q,
while the electricity sales revenue increased as power plants of ourinvestees newly began the operation.

Sales gains of some properties are expected in FY3/2022 4Q.

Major Figures (Billion Yen)

Focused Business Domains
SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Gross Profit

35.7

23.6

-12.1

Gross Profit

11.0

10.8

-0.1

Segment Profit

21.8

11.1

-10.6

Segment Profit

4.7

4.4

-0.3

New Transactions Volume

103.1

78.1

-25.0

New Transactions Volume

34.0

28.2

-5.7

Segment Assets

955.6

943.7

-11.8

Segment Assets

Real Estate Leasing

254.9

252.1

-2.8

328.4
84.0

+6.0
-7.5

Other Real Estate Finance

248.7

235.9

-12.7

229.1

240.2

+11.1

Securitization (Debt)

122.7

114.4

-8.2

Finance
Power Generation
Business Assets
Others

322.4
91.6

1.6

4.1

+2.4

Domestic

103.1

93.2

-9.8

Overseas

19.5

21.1

+1.6

Securitization (Equity)

64.8

58.8

-5.9

Domestic

48.0

40.9

-7.0

Overseas

16.7

17.9

+1.1

Real Estate Rental
Business

89.7

85.4

-4.3

Real Estate Revitalization
Investment

174.6

196.8

+22.2

*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

Domestic and Overseas Output in Operation Based on the Equity Ownership*3*4*5 (MW)(Includes results in the Infrastructure & Investment Business Division)

Total
Solar PowerWind Power

FY3/2021

FY3/2022 3Q

Change from
FY3/2021

1,136*6
907
228

1,250
976
273

+114
+68
+45

*3 Includes equity-method investments *5 Projects classified as finance are not included*4 Management accounting figures*6 Revised from the figure in the presentation material
for FY3/2021 results (refer to page 26 for details)

12Focused Business Domains

Aviation

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Sales
Finance

Mobility

GlobalAssetsComment
Gross profit increased YOY thanks to posting of gain on sale ofcertain receivables from bankrupt debtors and increase on gain onsale of our owned assets, despite the posting of impairment losses
and expenses in relation to modification of terms for certain existing
lease contracts.

Segment profit decreased YOY due to the posting of credit costs andGross Profit

22.4

24.3

+1.8

Segment Profit

4.6

2.3

-2.2

New Transactions Volume

87.9

137.1

+49.1

1,203.8

1,360.7+156.8

Aircraft Leasing (JSA)

862.9

1,005.6+142.6Engine Leasing (ELF)

244.1

275.0

+30.9

newer and next-generation narrow-body aircraft, and the aircraft’s off-

Aircraft Leasing (MHC)

96.7

79.9

-16.7

leasing ratio as of the end of December 2021 remained low.

Segment Assets

foreign exchange losses.


Our aircraft leasing business has a highly liquid portfolio centering on*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

Breakdown of Owned Aviation-Related Assets (FY3/2022 3Q)
Owned Aviation-related Assets*3*4
FY3/2021

FY3/2022 3Q(1) By Aircraft Asset
Type/Region

Change from
FY3/2021

Number of Aircraft (JSA)

177

191

+14

Number of Aircraft
Purchased

11

17

-

Number of Aircraft Sold

1

3

-

Average Age (JSA)

4.1 years

4.4 years+0.3 years

Number of Aircraft
Engines (ELF)

311

324

+13

Others
10.5%

Total
191
Aircraft
Narrow Body*5
89.5%

Middle East & Others
7.5%
Europe21.4%

Total Americas
39.0%
191
Aircraft(2) Aircraft Engine by
RegionMiddle East & Others
10.6%

Europe19.8%

Asia/Oceania
32.1%

Total Americas
324
41.4%
Engines

Asia/Oceania
28.2%*5 Single-aisle aircraft used for domestic and short-distance flights(A320 series of Airbus, B737 series of Boeing, etc.)*3 Management accounting figures*4 Figures before consolidated adjustments

13

Focused Business Domains

Logistics

SocialEnvironment
Infrastructure& Energy& LifeMajor Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Gross Profit

3.0

4.9

+1.8

Segment Profit

0.7

1.3

+0.6

New Transactions Volume

53.1

62.3

+9.2

Segment Assets

545.5

1,045.2+499.7

Marine Containers

223.5

726.9

+503.3

Railway Freight Cars

195.7

209.0

+13.2

Shipping and Others

126.1

109.3

-16.8

Mobility

GlobalAssetsComment
Gross profit increased YOY thanks to the steady performance inmarine container leasing and other factors, despite one-time expenses
in connection with reconfiguration of portfolio in railway freight car

leasing business.
Segment profit increased YOY thanks to the increase in gross profit
and in equity-method investment gains in the auto leasing business,
etc., while the expenses (1.5 billion yen) for acquiring CAI were posted.

Segment assets increased vs. the end of FY3/2021 thanks to theacquisition of CAI.

History of Marine Container Fleet of BIL and CAI (TEU 1,000)*8*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

In terms of the number of owned marine containers, MHC Group hasgrown to one of the 2nd largest companies in the world upon the

Owned Logistics-related Assets*3
FY3/2021

FY3/2022 3Q

Change from
FY3/2021

BIL’s Marine TEU 1,000*4
Container
CEU 1,000*5
Fleet

1,515

1,570

+54

1,659

1,710

+51

CAI’s Marine TEU 1,000*4
Container
CEU 1,000*5
Fleet

1,688*6

1,927*7+239

1,727*6

1,984*7+257

20,554

21,564+1,010

Number ofRailway Freight Cars

Sales
Finance*3 Management accounting figures*4 TEU: Twenty Feet Equivalent Unit (unit equivalent to the capacity of a 20-foot long container)*5 CEU: Cost Equivalent Unit (unit equivalent to the cost of a 20-foot long container)*6 Pre-acquisition figures; provided for reference*7 As of the completion of the acquisitionacquisition of CAI.

2,766

2,980

3,203

3,497

1,688

1,927*7

1,465

1,611

1,300

1,368

1,515

1,570

FY3/2019

FY3/2020
BIL

FY3/2021
CAI

FY3/2022 3Q*8 The figures of CAI for FY3/2019 through FY3/2021 are pre-acquisition figures
provided for reference

14

Focused Business Domains

MobilitySocialEnvironment
Infrastructure& Energy& LifeSales
Finance

Mobility

GlobalAssetsOthersComment

CommentSegment profit increased YOY thanks to the increase in the gain on
sales of vehicles for which the leasing term finished in Japan andoverseas, etc. responding to the high demand for used vehicles on a
global basis.

Focused Business Domains
SocialEnvironment
Infrastructure& Energy& LifeSales
Finance

Mobility

GlobalAssetsGross profit increased YOY thanks to the increase of profit from thehealthcare-related fund, etc.

Segment profit decreased YOY due to the posting of credit costs on
payment deferrals by some customers in the infrastructure-related
businesses.

Major Figures (Billion Yen)

Major Figures (Billion Yen)
FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

FY3/2021 3Q*1 FY3/2022 3Q

YOY*2

Gross Profit

8.8

11.3

+2.4

Gross Profit

10.0

11.1

+1.0

Segment Profit

0.7

1.6

+0.9

Segment Profit

0.0

-3.9

-4.0

New Transactions Volume

35.1

40.0

+4.9

New Transactions Volume

39.5

44.1

+4.6

Segment Assets

161.1

167.4

+6.3

Segment Assets

355.7

341.0

-14.7

Healthcare

157.3

159.2

+1.8

Infrastructure &Investment

111.6

128.3

+16.6

Others

86.7

53.4

-33.2

Domestic

Overseas

99.3

61.7

98.1

69.3

-1.2

+7.5

*1 Segment assets are for FY3/2021*2 Segment assets figure is vs. FY3/2021

15

III. Forecast for FY3/2022

16

Forecast for FY3/2022
 The progress rate against the forecast for FY3/2022 (net income: 95.0 billion yen) was 79.7%. The forecast remains unchanged.

FY3/2022*1*2

YOY
ChangeYOY
Change (%)

87.3*4

95.0

+7.6

+8.8%

FY3/2021(Billion Yen)

*1
*2
*3
*4
*5

1

Net Income Attributableto Owners of the Parent

2

Dividend per Share¥25.50*5¥26.00+¥0.50-3

Payout Ratio

41.1%*5

39.3%

-1.8P

-

4

ROE

7.3%*4

8.0%

+0.7P

-

5

OHR*3

55.9%*4

55.9%

0.0P

-

Forecast as of February 10, 2022
The assumed foreign exchange rates are $1=¥108, £1=¥150, €1=¥129
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
Calculated based on the results of MUL and HC in FY3/2021 (the figures are for reference because MUL used J-GAAP and HC used IFRS)MUL results in FY3/2021

17

Dividend Policy
 We will return profits to shareholders by distributing dividends and the dividend per share is estimated to be 26.00 yen, up 0.50 yen YOY.
We distributed the FY3/2022 interim dividend of 13.00 yen per share, up 0.25 yen YOY.
Dividend History of MHC (MUL)

41.1%
31.5%

30.4%

18.9%
11.4%

20.0%

19.2%

12.0%

11.8%

39.3%

25.2%

21.8%
12.2%

13.4%

13.0%

12.7%

12.4%

26.0

25.5

25.0

23.5
18.0
8.0

9.5

FY3/2014

FY3/2015

12.3

13.0

13.0

FY3/2016

FY3/2017

FY3/2018

Dividend per Share (Yen)*1

FY3/2019

FY3/2020

Equity Ratio

FY3/2021

FY3/2022(Forecast)

Payout Ratio[Reference] Dividend History of HC
FY3/2014
Dividend per Share (Yen)

48.0

FY3/2015
60.0

FY3/2016
84.0

FY3/2017
86.0

FY3/2018
86.0

FY3/2019

FY3/2020

FY3/202146.0

150.0*2

94.0*1 MUL results from FY3/2014 to FY3/2021*2 Includes special dividends (dividend of 40.0 yen per share) in FY3/2020

18

IV. Management Plan

19

Milestones for Formulation of the Management Plan
 Toward realizing our mission, we plan to announce “our medium- to long-term management direction” in May 2022.
 We will consider specified management plan and business strategies, etc. and formulate “the new Medium-term Management Plan” in
FY3/2023.
Milestones for Formulation of the Management Plan
FY3/2022
Outline of
the medium- tolong-term direction

Details of themedium- tolong-term direction

FY3/2023
Basic study of the
new Medium-termManagement Plan

Formulation of the
new Medium-termManagement Plan

FY3/2024
Launch of the new
Medium-termManagement Plan

Analyze megatrends
Identify material issues
Formulate action principles
Consider strategies by business
Formulate a consolidated plan for FY3/2023

Consider strategies by business for FY3/2024-FY3/2026
Formulate a consolidated plan for FY3/2024-FY3/2026

Recent Efforts
When
Details
Oct. : Announced support for TCFD*
2021
recommendations
Nov. : Decided to select the new “Prime Market”
segment for listing in the Tokyo Stock
Exchange
Dec. : Announced the materiality: Updated the Corporate Governance Report
2022 Jan. : Disclosed the ESG data

May 2022 (upon the announcementof FY3/2022 financial results):
Release of the medium- tolong-term management direction (plan)

In FY3/2023:
Release of the new
Medium-termManagement Plan (plan)

April 2022:
Establishment of the Nomination Committee andCompensation Committee (plan)* Task Force on Climate-Related Financial Disclosures20

Materiality / Why the Group treats as highly material challenges
 We identified the following six material issues as priority key challenges which must be addressed to achieve the sustainable
development of Mitsubishi HC Capital Group (“the Group”).
 Recognizing the importance of these identified materiality, the Group has been working on effective management and business activities
toward solving social issues.

(1)

(2)

Materiality

Why the Group treats as highly material challenges

Promote a
DecarbonizedSociety Efforts to realize a decarbonized society have been globally recognized as an urgent issue, and the Groupcan significantly contribute to solving this challenge through its services and solutions, such as renewableenergy investment and EV promotion.
 The impact on the business side is large and significant, involving matters including distinguishing activities
that go against the social issues.

Realize the Circular
Economy The Group aims to contribute to creating a circular economy by reducing waste, not only within the Groupbut also in society through maximizing the potential of assets. As a leader in the leasing industry, theGroup believes this issue is highly material.
 The Group can also contribute to realizing a sustainable and prosperous society through strengthening thecollaboration between partners.

How related to SDGs

 The Group recognizes that the business has many opportunities to support infrastructure projects in Japanthat require repair and rebuilding, as well as the development of infrastructure and creation of smart cities
Establish Resilientin emerging countries with active collaboration between various partners.
(3)
Social Infrastructure The group will contribute to the diversification, enhancement and optimization of the business throughestablishing systems and providing services for supporting the collaboration between companies.

(4)

Realize HealthyLifestyles that
Promote Positive
Wellbeing It is vital for stakeholders that the Group recognizes the importance of health, safety, and physical andmental wellbeing for realizing a prosperous future.
 Valuable human resources are key to the value and trust in our corporate activities. Improving employee
motivation, acquiring top talent, and similar actions are highly important.

(5)

Create Businesses
Utilizing the Latest
Technologies

 Both financing for the purpose of the digital transformation of customers and using internal digitaltechnologies to increase the efficiency for this promote the development for new business models.
 The Group identifies this for highly material opportunities for diversified and innovative business creation,
including establishing supply chains utilizing alternative energies.

(6)

Collaborate with
Partners Locallyand Globally Social issues differ by country and region. The Group should create synergies with local partners and findnew opportunities inside and outside of Japan, meeting individual needs through community-based efforts.
 The Group can realize mutual benefits in developing society by utilizing its integrated capabilities.

21How the Materiality Relates to Our Mission and Our Vision Our “Basic Sustainability Policy” consists of and integrates “Our Mission”, our ideal image, “Our Vision”, what the Group needs to do toachieve Our Mission, and the materiality.

Solve social issues by developing
unique and progressive businesses
with consideration for the global
environment.
(1)

Promote a Decarbonized Society(2)

Realize the Circular Economy(3)

Establish Resilient Social
Infrastructure(4)

Realize Healthy Lifestyles that
Promote Positive Wellbeing

Enhance corporate value by evolving
our business model through utilizing
digital technology and data.
(5)

Create Businesses Utilizing theLatest Technologies

Aim for sustainable growth throughvalue co-creation with diverse
stakeholders across the globe.

Our Mission
Contribute to a prosperous
and sustainable future bycreating social value
through maximizing thepotential of assets.

(3)

Establish Resilient Social
Infrastructure(6)

Collaborate with Partners Locallyand Globally

Foster an “open, creative andengaging” corporate culture thatshapes each and every employee’s
motivation and pride.
Aim to be a trusted company by complying withlaws and regulations, as well as implementing
ethical corporate management.

Governance(4)

Realize Healthy Lifestyles that
Promote Positive Wellbeing

Corporate Governance, Risk
Management, Compliance,
Information Security

Our Vision
Materiality
22

V. Appendix

23

Acquisition of CAI,a U.S. Leading Marine Container Leasing Company
 As announced on November 24, 2021, we acquired all shares of CAI, a U.S. leading marine container leasing company.
 CAI’s B/S as of the completion of the acquisition was consolidated into our B/S for FY3/2022 3Q. Provisionally calculated goodwill is 34.1
billion yen. P/L figures from the completion of the acquisition to the end of December 2021 will be consolidated into our financial resultsfor FY3/2022 4Q.

Results*1

Company Outline
Company NameCAI International, Inc.

Head Office
Location

Steuart Tower, 1 Market Plaza, Suite 2400,
San Francisco, CA

Representative

Timothy Page,
President and Chief Executive Officer

Stated Capital

USD 103.867 million

Date of
Establishment

August 3, 1989

Offices

13 global locations in 12 countries(as of end-December, 2020)

Number of
Employees

99 (as of end-December, 2020)(US$M)

FY12/2018 FY12/2019 FY12/2020

FY12/2021
3Q

Revenues

285

299

294

267

Operating
Income

150

140

149

166

Net Income*2*3

77

47

72

118*4

Total Equity

701

693

702

800

Total Assets

3,013

2,902

2,613

3,266

*1 Figures are on a consolidated basis and rounded*2 Net income attributable to CAI common stockholders*3 CAI sold their logistics and rail leasing businesses in August 2020 and December 2020
respectively. Net incomes in the above table are net incomes from their existing businessexcluding such businesses already sold*4 Quarterly net income attributable to owners of the parent

24

Reporting Segments
 From FY3/2022 1Q, based on the business organization of new company, the reporting segments of MUL and HC were integrated andreorganized.

Current Segments

Previous Segments
Reporting Segments

M
U
L

Segment Assets (Billion Yen)*

BeforeFY3/2021

FY3/2022 3Q

2,129.5

1,999.2

2,109.2

2,202.4

A

Customer Business

B

Aviation

C

Real Estate

D

Logistics

Vendor Solution

B

434.4

430.9

E

Environment & Energy

LIFE

A

321.8

303.4

F

Healthcare

Real Estate

C

955.6

943.7

G

Infrastructure & Investment
E A

322.4

328.4

AviationB

1,203.8

1,360.7

Logistics

D

545.5

1,045.2

Mobility

A C

161.1

167.4

Others

F G A

355.7

341.0

A

Account Solution
Japan

B
H
C

Reporting Segments

Vendor Solution

C

EuropeD

The Americas

E

China

F

ASEAN

Customer BusinessAccount Solution

Environment & Renewable EnergyA
A C D EF

* Definition of segment assets is explained in page 26

25

Impact of Definitional Changes on Results from FY3/2022
 From FY3/2022, we have changed the definitions and accounting methods as follows, and made retroactive adjustments on some items.
Items Changed (Former Name)

AppliedCompany

Retroactive
Adjustment

Details of Definitional Changes

N/A

Divisional Assets: “Operating assets” + “equity-method investments”
Segment Assets: “Operating assets” + “equity-method investments” + “goodwill” + “investment
securities, etc.”

Applied

Before: In HC, all contract amounts were posted as “volume of business”
After: Posting only the principals out of contract amounts as “new transactions volume”
Before: Lump-sum recognition of sales→ After: Split recognition of sales
Before: Handle as finance for the accounting→ After: Handle as leasing and makepurposeadjustment for taxable income
Before: Lump-sum posting at issuance timing → After: Split posting over redemption period

Applied

Before: MUL output = regardless of the scope of consolidated accounting of investee companies,
output is divided on a pro rata basis according to the equity ownership
HC output = output according to the scope of consolidated accounting of investee
companies
1. Consolidated subsidiaries: count 100% output
2. Equity-method affiliates: divide on a pro rata basis according to the equity ownership
3. Other investee companies: no output is counted
After: Regardless of the scope of consolidated accounting of investee companies, total output
is divided on a pro rata basis according to the equity ownership.

1

Segment Assets (Divisional Assets)

MHC

2

New Transactions Volume (Volume of Business)HC

3

Posting of Re-leasing Sales

4

Handling of Lease Finance5

Posting of Corporate Bond Issuance Expense

6

MUL

Calculation Method of Output Based on the Equity
Ownership in the Environment and Renewable Energy
Segment

MHC

Impact of Retroactive Adjustment in FY3/2021 3Q(Million Yen)
New Transactions Volume(Volume of Business)※For Item “2” in the table above

Item
Total

PL Items※For Items 3, 4, 5 in the table above

Revenues
Gross Profit
Recurring Income
Net Income

BS Items※For Items 3, 4, 5 in the table above

Total Equity
Total Assets

Output Based on the Equity Ownership Total Output※For Item “6” in the table above
Wind Power* FY3/2021

AppliedCompanyHC

FY3/2021 3Q
Before Adjustment(Volume of business)
1,310,909

After Adjustment(New transactions volume)914,612Impact of Adjustment-396,297

MUL

663,785
122,669
52,45740,539704,051
122,886
52,794
40,776+40,266
+217
+337
+236

MUL

821,233*
6,009,831*

817,906*
6,014,896*-3,327+5,065MHC

1,206MW *298MW *

1,136MW *228MW *

-69MW
-69MW

26

Segment Profit (by Quarter)(Billion Yen)

(a)

(b)

(c)

(d)

(e)

(f)

(g)=(f)-(e)(h)=(f)-(c)FY3/2021
1Q

FY3/2021
2Q

FY3/2021
3Q

FY3/2022
1Q

FY3/20222Q

FY3/2022
3Q

QOQ

YOY

1

Customer Business

4.0

5.7

7.6

22.6

5.0

5.1

0.0

-2.5

2

Account Solution

3.4

5.1

5.6

6.8

6.5

7.6

+1.1

+2.0

3

Vendor Solution

1.0

1.1

1.1

0.9

0.8

0.6

-0.1

-0.4

4

LIFE

0.8

0.6

1.4

1.1

1.0

1.9

+0.8

+0.4

5

Real Estate

9.1

5.4

7.2

2.7

4.3

4.0

-0.3

-3.2

6

Environment &Renewable Energy

2.1

1.4

1.1

1.4

1.7

1.1

-0.6

0.0

7

Aviation

3.1

0.0

1.3

-2.4

6.6

-1.8

-8.5

-3.1

8

Logistics

0.0

0.3

0.4

0.6

1.4

-0.6

-2.1

-1.1

9

Mobility

0.2

0.3

0.1

0.5

0.4

0.6

+0.1

+0.4

10

Others

-0.1

0.0

0.1

-0.2

-0.6

-3.0

-2.3

-3.1

11

Adjustments

-3.2

-4.1

-0.7

-1.5

0.1

-0.4

-0.5

+0.2

12

Total Segment Profit

20.6

16.2

25.8

32.7

27.7

15.2

-12.4

-10.5

27

New Transactions Volume by Segment(Billion Yen)

FY3/2021 3Q*

FY3/2022 3Q

YOY Change

YOY Change(%)

1

Customer Business

440.3

416.8

-23.5

-5.3%

2

Account Solution

627.0

777.4

+150.3+24.0%

3

Vendor Solution

97.6

104.1

+6.5

+6.7%

4

LIFE

147.8

114.8

-32.9

-22.3%

5

Real Estate

103.1

78.1

-25.0

-24.3%

6

Environment & Renewable
Energy

34.0

28.2

-5.7

-17.0%

7

Aviation

87.9

137.1

+49.1

+55.9%

8

Logistics

53.1

62.3

+9.2

+17.3%

9

Mobility

35.1

40.0

+4.9

+14.1%

10

Others

39.5

44.1

+4.6

+11.8%

11

Total New Transactions
Volume1,665.8

1,803.4

137.6

+8.3%

* Figures for the sum of consolidated results of MUL and those of HC (IFRS basis) converted into J-GAAP basis ina simplified manner, which are presented as reference values

28Credit Costs by Segment(Billion Yen)

FY3/2021 3Q*

FY3/2022 3Q

YOY Change

1

Customer Business

2.7

2.1

-0.5

2

Account Solution

7.9

7.2

-0.6

3

Vendor Solution

0.0

0.3

+0.3

4

LIFE

0.0

0.0

0.0

5

Real Estate

0.0

0.0

0.0

6

Environment & Renewable
Energy

0.0

0.0

0.0

7

Aviation

6.5

8.8

+2.3

8

Logistics

-0.2

-0.1

0.0

9

Mobility

0.1

0.0

0.0

10

Others

0.0

4.0

+3.9

11

Total Credit Costs

17.0

22.5

+5.4

* Figures for the sum of consolidated results of MUL and those of HC (IFRS basis) converted into J-GAAP basis ina simplified manner, which are presented as reference values

29Financial Performance: Profit & Loss Statement
FY3/2021 3Q(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 Loss

13

Quarterly Net Income Attributable to
Owners of the Parent

MUL*1 (a)704,051
581,165
47,586
122,886
72,58530,60532,436
9,543
50,301
52,794
10,21975
40,776-

HC*2 (b)569,303
470,794
23,03898,50872,946
37,63326,507
8,804
25,562
29,3191,091
54
21,952-

FY3/2022 3Q
MHC*3 (a+b)
1,273,355
1,051,959
70,624
221,395
145,531
68,23958,943
18,34875,864
82,114
11,31012962,728-MHC
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%(Note) Percentage figures (%) in the lower column are YOY (results in FY3/2022 3Q are vs. those of MHC (a+b) in FY3/2021 3Q)*1 Retroactively adjusted figures along with the change of the accounting method (refer to page 26 for details)*2 Figures for IFRS basis converted into J-GAAP basis in a simplified manner, which are presented as reference values*3 Simple sums

30

Financial Performance: Balance Sheet, etc.
FY3/2022 3Q*1

FY3/2021(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

13

ROA (Net Income Attributable to
Owners of the Parent on Total Assets )MUL*2 (a)294,241-36.9%
817,906+2.8%
6,014,896-4.4%
5,336,681-2.8%
5,067,292-3.5%
116,078+29.0%
153,309+0.4%
39,269+59.0%
22,501+62.7%
16,767+54.4%
13.4%
+1.1P
7.0%
0.9%
-

HC*3 (b)302,899
432,3093,708,949
3,268,195
3,192,331
24,21351,65056,27435,56420,70911.2%-

MHC*4 (a+b)
597,140
1,250,216
9,723,846
8,604,876
8,259,624
140,291
204,960
95,54358,06637,47612.5%-

MHC369,751-38.1%
1,265,074+1.2%
9,915,757+2.0%
9,130,022+6.1%
8,852,052+7.2%
131,853-6.0%
146,116-28.7%
100,626+5.3%
67,922+17.0%
32,704-12.7%
12.5%
0.0P
8.4%*5*51.0%-(Note) Percentage figures (%) in the lower column are vs. end of the previous fiscal year. (results as of the end of FY3/2022 3Q are vs. those of MHC (a+b) as of the end of FY3/2021)*1 Adjustments were made upon the business integration, such as the evaluation of HC’s assets and liabilities at market value and acquisition of MUL shares held by HC*2 Retroactively adjusted figures along with the change of the accounting method (refer to page 26 for details)*3 Figures for IFRS basis converted into J-GAAP basis in a simplified manner, which are presented as reference values*4 Simple sums
*5 ROE and ROA are calculated using annualized net income formulated by multiplying the net income for FY3/2022 3Q
by 4/331

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

14

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

MUL*2 (a)4,634,956-6.0%2,870,347+0.2%
1,764,608-14.6%
434,171-43.0%
106,230-21.8%
1,224,206+4.7%

FY3/2021
HC*3 (b)2,992,698
1,317,399
1,675,299
209,641
478,334
987,323-

MHC*4 (a+b)
7,627,655
4,187,747
3,439,908
643,812584,565
2,211,530-

FY3/2022 3Q*1
MHC7,750,883+1.6%
4,332,932+3.5%
3,417,950-0.6%
698,362+8.5%
507,462-13.2%
2,212,125
0.0%

38.1%
70.9%
40.5%
-

56.0%
60.7%
47.1%
-

45.1%
66.9%
43.1%
-

44.1%
-1.0P
67.3%
+0.4P
47.0%
+3.9P

(Note) Percentage figures (%) in the lower column are vs. end of the previous fiscal year (results as of the end of FY3/2022 3Q are vs. those of MHC (a+b) as of the end of FY3/2021)*1 Adjustments were made upon the business integration, such as the evaluation of HC’s assets*3 Figures for IFRS basis converted into J-GAAP basis in a simplified manner,and liabilities at market value and acquisition of MUL shares held by HC
which are presented as reference values*2 Retroactively adjusted figures along with the change of the accounting method (refer to page 26 for details) *4 Simple sums

Exchange Rate Applied to Financial Results of Major Overseas Subsidiaries*5
Major Overseas MUL
Subsidiaries
FY3/2021 3Q
FY3/2022 3Q
23
24

Exchange Rate Applied to PL
Exchange Rate Applied to BS

Major Overseas HC Subsidiaries
FY3/2021 3Q

FY3/2022 3Q

1$＝JPY107.59

1$＝JPY108.50

1£＝JPY136.24

1$＝JPY106.12

1£＝JPY152.76

1$＝JPY111.10

1$＝JPY103.50*6

1$＝JPY111.92

1£＝JPY152.23*6

1$＝JPY110.71*6

1£＝JPY155.24

1$＝JPY115.02*5 Major overseas MUL subsidiaries: Average rates during Jan. 2021 through Sep. 2021 applied to PL
Exchange rate as of end-Dec. 2020 is applied to FY3/2021 BS and
as of end-Sep. 2021 is applied to FY3/2022 3Q BS
Major HC overseas subsidiaries: Average rates during Apr. 2021 through Dec. 2021 applied to PL
Exchange rate as of end-Mar. 2021 is applied to FY3/2021 BS and
as of end-Dec. 2021 is applied to FY3/2022 3Q BS*6 FY3/2021

32

Major Companies (1)Consolidated/
Equity-method

Main Business

Major Companies

Consolidated/
Equity-method

Main Business-Leasing, etc.

Mitsubishi HC Capital (Hong Kong)

Consolidated

Leasing and financial business

DFL Lease

Consolidated

Leasing, etc.

Mitsubishi HC Capital Leasing(Beijing)

Consolidated

Leasing and financial businessShutoken Leasing

Consolidated

Leasing, etc.

Mitsubishi HC Capital Asia PacificConsolidated

Leasing and financial business

DRS

Consolidated

Rental and leasing, etc.

Mitsubishi HC Capital (Thailand)

Consolidated

Leasing and financial business

Mitsubishi HC Capital (U.S.A.)

Consolidated

Leasing, etc.

Mitsubishi HC Capital Malaysia

Consolidated

Leasing and financial business

ENGS Commercial Finance*<ENGS>

Consolidated

Sales finance, etc.

Arthaasia FinanceConsolidated

Leasing and financial businessBangkok Mitsubishi HC Capital

Consolidated

Leasing, etc.

Mitsubishi HC Capital (Singapore)

Consolidated

Leasing, etc.

-

Leasing

Mitsubishi HC Capital and FinanceIndonesia

Consolidated

Leasing, etc.

Mitsubishi HC Business Lease

Consolidated

Leasing

Mitsubishi HC Capital (Shanghai)

Consolidated

Leasing, etc.

Mitsubishi HC Capital/
LIFE Business Division-

Leasing and financial business

Mitsubishi UFJ Lease & Finance(Hong Kong)

Consolidated

Leasing, etc.

Mitsubishi HC Capital Community

Consolidated

Real estate development/
management/leasing

HCD Properti Indonesia

Consolidated

Real estate leasing

MHC Triple Win

Consolidated

Outsourcing business,business relating to food,beverages and agriculture

Sekisui Leasing

Consolidated

Leasing and financial business

Capital Insurance

Consolidated

Non-life insurance

Hitachi Auto Service

Equity-method Automobile-related businesses

Segment

Major Companies
Mitsubishi HC Capital/Domestic
Branches

CustomerBusiness

Account
Solution

Mitsubishi HC Capital/
Hitachi Group Business Division-

Leasing and financial business

Mitsubishi HC Capital/
Corporate Business Division-

Leasing and financial business

Hitachi Capital (UK)Consolidated

Leasing and financial business

Mitsubishi HC Capital America

Consolidated

Leasing and financial business

Mitsubishi HC Capital Canada
Leasing

Segment

Account
Solution

VendorSolution

Mitsubishi HC Capital/
Vendor Solutions Business
Division

LIFE

Consolidated

Leasing and financial business(Note) Company names are as of February 10, 2022 and words inside of “< >” denote abbreviations of companies* Operating company of ENGS Holdings Inc.

33

Major Companies (2)Segment

Major Companies
Mitsubishi HC Capital/
Real Estate Business Department

Real
Estate-Securitization financeReal estate revitalization
investment

Consolidated

Mitsubishi HC Capital Property

Consolidated

Real estate leasing

Diamond Asset FinanceConsolidated

Real estate rental and other realestate financeMiyuki Building

Consolidated

Real estate rental

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

Consolidated

Overseas securitization financeCenter Point Development <CPD>

Consolidated

Asset management services

Equity-method

Asset management services forlogistics real estate

Consolidated/
Equity-method

Main Business

CAI International <CAI>

Consolidated

Marine container leasing

PNW Railcars

Consolidated

Railcar leasing

Takari Kokoh Sejahtera

Consolidated

Auto leasing, etc.

Mitsubishi Auto Leasing

Equity-method

Auto leasing-

Auto leasing

Mitsubishi HC Capital Auto Leasing

Consolidated

Auto leasing

MHC Mobility [Poland] *Consolidated

Auto leasing

MHC Mobility [Netherlands] *Consolidated

Auto leasing

MHC Mobility [Germany] *Consolidated

Auto leasing and rental

MHC Mobility [Austria] *Consolidated

Auto leasing and rental-

Medical equipment leasing
and medical fee factoring

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

Mitsubishi HC Capital/
Infrastructure Business Department-

Infrastructure business,
PFI business

Mitsubishi HC Capital/
Investment Business Department-

Corporate investment

Segment

Logistics

Major Companies

Mitsubishi HC Capital/Mobility
Solutions Business Division

Mobility

Mitsubishi HC Capital/Environment &Energy Business Division-

Mitsubishi HC Capital/Renewable
Energy Business Department-

Renewable energy business

Consolidated

Operation and asset
management of renewableenergy business

Consolidated

Power generation fromrenewable energy

HWP

Consolidated

Power generation fromrenewable energy

HSE

Consolidated

Power generation fromrenewable energy

Unconsolidated

Development of energy-related
businesses

Japan Infrastructure Initiative <JII>

Consolidated

Infrastructure investment andloan

Mitsubishi HC Capital/
Aviation Business Department-

Japanese Operating Lease withcall option, etc.

Mitsubishi HC Capital/Business &Strategic Planning Division-

Business planning,settlement services, etc.

Jackson Square Aviation <JSA>

Consolidated

Aircraft leasing

Engine Lease Finance <ELF>

Consolidated

Aircraft engine leasing, part-out

Mitsubishi HC Capital Servicer

Consolidated

Credit management andcollection

Mitsubishi HC Capital/
Logistics Business Department-

Ship finance

MHC Reuse Services

Consolidated

Purchase and sale of used
goods

Beacon Intermodal Leasing <BIL>

Consolidated

Marine container leasing

Mitsubishi HC Capital Trust

Consolidated

Trust business

Mitsubishi HC Capital Energy
Environment&
Renewable HGE
EnergyMHC Utility Innovation

Logistics

Main Business

Mitsubishi HC Capital Realty

Mitsubishi HC Capital Realty
Advisors

Aviation

Consolidated/
Equity-method

Renewable energy business

Mitsubishi HC Capital/
Healthcare Business Department

Others(Note) Company names are as of February 10, 2022 and words inside of “< >” denote abbreviations of companies* Location

34

Inquiries

Corporate Communications Department
I

Inquiries
TEL： +81 3-6865-3002

II

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

35Legal Disclaimer
 This presentation contains forward-looking statements regarding estimations, forecasts, targets and plansin relation to the results of operations, financial conditions and other overall management of Mitsubishi HC
Capital Inc. and/or its group companies (collectively, the “Group”).

 These forward-looking statements are inherently subject to a number of risks and uncertainties that could
cause the Group’s actual results, performance, achievements, financial position etc. to differ materially fromthe 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 thetime of publication. Accordingly, due to various risks and uncertainties, the statements are not a guaranteeof 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.
 The Amount less than one unit is omitted in this presentation, which may cause fraction error in the total
amount. We undertake no obligation to update or correct any forward-looking statements after the date ofthis presentation. The information set forth in this presentation is subject to change without notice.
 This presentation is not intended to solicit, offer, sell or market securities 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.
 This presentation is made in Japanese and translated into English. The Japanese text is the original andthe English text for reference purposes. If there is any conflict or inconsistency between these two texts, theJapanese text shall prevail.

36