Overview of Latest Financial Results

During the nine months ended December 31, 2024, revenues increased ¥8,500 million, or 0.8%, to ¥1,011,800 million, and gross profit increased ¥17,900 million, or 9.4%, to ¥208,500 million, respectively, from the same period of the previous fiscal year. The latter was mainly caused by an increase in income in the Specialty Financing and International Business segments.

Selling, general and administrative expenses increased ¥9,300 million, or 8.6%, to ¥118,000 million from the same period of the previous fiscal year, mainly due to increases in personnel and non-personnel expenses in the International Business segment.

Non-operating income minus non-operating expenses amounted to a net income of ¥11,200 million, up ¥1,900 million, or 20.2%, from the same period of the previous fiscal year. This was mainly caused by increases in foreign exchange gains and equity in earnings of affiliates.

Due to the factors mentioned above, ordinary income increased ¥10,500 million, or 11.6%, to ¥101,700 million from the same period of the previous fiscal year.

Extraordinary income minus extraordinary losses amounted to a net income of ¥11,200 million, up ¥9,500 million, or 557.0%, from the same period of the previous fiscal year, mainly due to gain on sale of investment securities. Income taxes increased ¥5,700 million, or 21.6%, to ¥32,300 million from the same period of the previous fiscal year. Net income attributable to non-controlling interests amounted to ¥8,600 million, down ¥700 million, or 7.2%, from the same period of the previous fiscal year.

As a result, net income attributable to owners of parent increased ¥15,000 million, or 26.3%, to ¥72,000 million from the same period of the previous fiscal year.

Total assets at the end of the first nine months of the fiscal year ending March 31, 2025 increased ¥102,500 million, or 1.6%, to ¥6,563,400 million, and segment assets increased ¥51,300 million, or 0.9%, to ¥5,771,800 million, respectively, from the end of the previous fiscal year. Total liabilities increased ¥59,500 million, or 1.1%, to ¥5,509,300 million, and interest-bearing debts increased ¥106,800 million, or 2.2%, to ¥4,855,800 million, respectively, from the end of the previous fiscal year.

Total net assets increased ¥43,000 million, or 4.2%, to ¥1,054,100 million from the end of the previous fiscal year. As a result, the shareholders’ equity ratio increased by 0.3 percentage points compared with the end of the previous fiscal year to 13.8%.

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Revenues decreased ¥10,400 million, or 3.0%, to ¥332,900 million, and segment income decreased ¥100 million, or 0.8%, to ¥17,200 million, respectively, from the same period of the previous fiscal year. The balance of segment assets decreased ¥51,800 million, or 4.1%, to ¥1,221,700 million from the end of the previous fiscal year.

Revenues decreased ¥33,500 million, or 12.8%, to ¥228,700 million, and segment income increased ¥800 million, or 5.5%, to ¥14,800 million, respectively, from the same period of the previous fiscal year. The increase in segment income was mainly because of an increase in gains on sale of vehicles whose leases terminated and increased profitability resulting from the rise in car rental prices per unit. The balance of segment assets increased ¥20,600 million, or 4.3%, to ¥499,600 million from the end of the previous fiscal year.

Revenues increased ¥20,400 million, or 9.0%, to ¥247,000 million, and segment income increased ¥7,400 million, or 30.7%, to ¥31,400 million, respectively, from the same period of the previous fiscal year. The increase in segment income was mainly due to an increase in gains on sale of aircraft in the aviation business. The balance of segment assets increased ¥5,200 million, or 0.2%, to ¥2,830,500 million from the end of the previous fiscal year.

Revenues increased ¥31,000 million, or 24.6%, to ¥157,200 million, and segment income increased ¥3,100 million, or 46.6%, to ¥9,700 million, respectively, from the same period of the previous fiscal year, mainly due to an increase in foreign exchange gains. The balance of segment assets increased ¥66,900 million, or 8.1%, to ¥889,600 million from the end of the previous fiscal year, mainly due to an increase in investments in data center businesses.

Revenues increased ¥1,200 million, or 2.6%, to ¥45,400 million, and segment income decreased ¥2,700 million, or 77.3%, to ¥800 million, respectively, from the same period of the previous fiscal year. The decrease in segment income was mainly due to the absence of one-time gains in the electric power generation business recorded for the same period of the previous fiscal year and the increased funding cost of new overseas investment projects. The balance of segment assets increased ¥11,400 million, or 4.1%, to ¥285,300 million from the end of the previous fiscal year.