Worth reading
70In focus
Scored from 4 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
130
¥100 million (year-on-year increase in quarterly net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net income¥351 million+59.1%
Results for the three months of the current quarterFirst-quarter standalone net income attributable to owners of the parent was ¥35.1 billion. Segment net income was ¥8.1 billion in Domestic Business, ¥5.0 billion in Overseas Business, ¥3.3 billion in Social Infrastructure, ¥12.2 billion in Transport, ¥7.4 billion in Mobility, ¥1.4 billion in Corporate Investment and negative ¥2.2 billion in Other.
Full-year earnings forecastNet income forecasts are ¥25.3 billion for Domestic Business, ¥26.5 billion for Overseas Business, ¥18.9 billion for Social Infrastructure and ¥35.4 billion for Transport. The consolidated full-year net income forecast is Not disclosed.
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。Domestic Business 32.1%, Overseas Business 18.7%, Social Infrastructure 17.4%, Transport 34.6% and consolidated net income 28.6%.
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Domestic Business: up ¥1.2 billion, mainly from increased earnings recognized from NTL and other factors; Overseas Business: up ¥1.4 billion, mainly from revenue growth at CSI and other factors; Social Infrastructure: up ¥0.9 billion, mainly from the real estate and renewable energy businesses; Transport: up ¥8.7 billion, mainly from gains on aircraft and vessel sales; Mobility: up ¥0.9 billion, mainly from rental car revenue and gains on vehicle sales; Corporate Investment: down ¥0.2 billion, mainly due to the absence of a large-scale gain on sale recorded in the previous year.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Average exchange rate during the period, JPY/USD: FY24 ¥148.62, FY25 ¥152.56 and FY26 ¥156.96. Period-end exchange rate: ¥158.17 at the end of March 2025, ¥156.54 at the end of March 2026 and ¥159.93 at the end of June 2026. Foreign exchange sensitivity: net income changes by approximately ±¥0.4 billion for each ¥1 movement against the US dollar.New initiatives
Transfer of a 50% stake in ACG to ITOCHU Corporation and establishment of a 50:50 joint management structure; capital and business alliance with Flat Collaboration; joint acquisition of hotels with OUE; strengthening of the data center business structure; expansion of the battery energy storage business; and promotion of M&A by CSI.Key KPIsA metric the company considers important as a management benchmark.
ROE 12.3% (up 3.5 pt year on year), ROA 1.9% (up 0.3 pt), equity ratio 15.6% (up 0.1 pt), CSI contract value of $501 million (up $130 million year on year) and 281 aircraft held by ACG (up 3 aircraft).Segment results
Domestic Business: net income of ¥8.1 billion (up ¥1.2 billion year on year); Overseas Business: ¥5.0 billion (up ¥1.4 billion); Social Infrastructure: ¥3.3 billion (up ¥0.9 billion); Transport: ¥12.2 billion (up ¥8.7 billion); Mobility: ¥7.4 billion (up ¥0.9 billion); Corporate Investment: ¥1.4 billion (down ¥0.2 billion); Other: negative ¥2.2 billion (up ¥0.2 billion).Medium-term management plan targets
Under the Medium-Term Management Plan 2030, segment assets are targeted at approximately ¥7.2 trillion as of the end of March 2031, comprising approximately ¥3.5 trillion in Growth and Strategic Businesses and approximately ¥3.5 trillion in Core Businesses. Segment assets are expected to decrease by approximately ¥1.7 trillion as of the end of March 2027 following the formation of a joint venture for ACG.Financial targets
Actual ROE was 12.3%, ROA was 1.9% and the equity ratio was 15.6%. Financial targets are Not disclosed.Market Size / Share
Global demand for new aircraft in fiscal 2044 is estimated at approximately 43,000 aircraft, with total aircraft demand at approximately 49,000 aircraft. The materials present the number of aircraft owned, managed and committed by the top 10 aircraft lessors. ACG has 364 aircraft and aims to become one of the industry's top 5 lessors.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net income | ¥351 million (YoY +59.1%) |
| Results for the three months of the current quarter | First-quarter standalone net income attributable to owners of the parent was ¥35.1 billion. Segment net income was ¥8.1 billion in Domestic Business, ¥5.0 billion in Overseas Business, ¥3.3 billion in Social Infrastructure, ¥12.2 billion in Transport, ¥7.4 billion in Mobility, ¥1.4 billion in Corporate Investment and negative ¥2.2 billion in Other. |
| Full-year earnings forecast | Net income forecasts are ¥25.3 billion for Domestic Business, ¥26.5 billion for Overseas Business, ¥18.9 billion for Social Infrastructure and ¥35.4 billion for Transport. The consolidated full-year net income forecast is Not disclosed. |
| Progress against full-year forecast | Domestic Business 32.1%, Overseas Business 18.7%, Social Infrastructure 17.4%, Transport 34.6% and consolidated net income 28.6%. |
| Segment results | Domestic Business: net income of ¥8.1 billion (up ¥1.2 billion year on year); Overseas Business: ¥5.0 billion (up ¥1.4 billion); Social Infrastructure: ¥3.3 billion (up ¥0.9 billion); Transport: ¥12.2 billion (up ¥8.7 billion); Mobility: ¥7.4 billion (up ¥0.9 billion); Corporate Investment: ¥1.4 billion (down ¥0.2 billion); Other: negative ¥2.2 billion (up ¥0.2 billion). |
| Breakdown of Factors Affecting the Change | Domestic Business: up ¥1.2 billion, mainly from increased earnings recognized from NTL and other factors; Overseas Business: up ¥1.4 billion, mainly from revenue growth at CSI and other factors; Social Infrastructure: up ¥0.9 billion, mainly from the real estate and renewable energy businesses; Transport: up ¥8.7 billion, mainly from gains on aircraft and vessel sales; Mobility: up ¥0.9 billion, mainly from rental car revenue and gains on vehicle sales; Corporate Investment: down ¥0.2 billion, mainly due to the absence of a large-scale gain on sale recorded in the previous year. |
| Key KPIs | ROE 12.3% (up 3.5 pt year on year), ROA 1.9% (up 0.3 pt), equity ratio 15.6% (up 0.1 pt), CSI contract value of $501 million (up $130 million year on year) and 281 aircraft held by ACG (up 3 aircraft). |
| Assumptions Underlying the Business Outlook | Average exchange rate during the period, JPY/USD: FY24 ¥148.62, FY25 ¥152.56 and FY26 ¥156.96. Period-end exchange rate: ¥158.17 at the end of March 2025, ¥156.54 at the end of March 2026 and ¥159.93 at the end of June 2026. Foreign exchange sensitivity: net income changes by approximately ±¥0.4 billion for each ¥1 movement against the US dollar. |
| Medium-term management plan targets | Under the Medium-Term Management Plan 2030, segment assets are targeted at approximately ¥7.2 trillion as of the end of March 2031, comprising approximately ¥3.5 trillion in Growth and Strategic Businesses and approximately ¥3.5 trillion in Core Businesses. Segment assets are expected to decrease by approximately ¥1.7 trillion as of the end of March 2027 following the formation of a joint venture for ACG. |
| Financial targets | Actual ROE was 12.3%, ROA was 1.9% and the equity ratio was 15.6%. Financial targets are Not disclosed. |
| Market Size / Share | Global demand for new aircraft in fiscal 2044 is estimated at approximately 43,000 aircraft, with total aircraft demand at approximately 49,000 aircraft. The materials present the number of aircraft owned, managed and committed by the top 10 aircraft lessors. ACG has 364 aircraft and aims to become one of the industry's top 5 lessors. |
| New initiatives | Transfer of a 50% stake in ACG to ITOCHU Corporation and establishment of a 50:50 joint management structure; capital and business alliance with Flat Collaboration; joint acquisition of hotels with OUE; strengthening of the data center business structure; expansion of the battery energy storage business; and promotion of M&A by CSI. |
Items this document does not state (17)
Net SalesOperating profitOrdinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In the Transport segment, gains on aircraft sales and proceeds from vessel sales increased, while the Overseas Business segment recorded revenue growth mainly from large-scale projects at CSI. Regarding the formation of a joint venture for ACG, the company aims to strengthen its financial base through ITOCHU Corporation's participation, expand its scale and enhance its competitiveness.
How to read this page
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