Mitsubishi HC Capital (8593) Corporate presentation summary

Organizational structure and governance

• Logistics Business Division manages marine container and railcar leasing, with 175 employees and segment assets of approx. ¥1.1 trillion as of March 2024.

• CAI International and PNW Railcars are key subsidiaries, with CAI focused on marine containers and PNW on railcars.

• Governance includes close collaboration, regular executive meetings, and MHC representatives on boards to ensure alignment with group strategy.

Market environment and business overview

• Container leasing market shows steady growth, with leasing companies holding about 50% of global fleet and a 4.5% CAGR.

• CAI is among the top five global container lessors, holding a 13% market share and leveraging synergies from mergers.

• North American railcar market is stable, with leasing companies owning 57% of railcars and top 10 lessors controlling 90% of the market.

Portfolio strategies and risk management

• CAI maintains a diversified portfolio: 76% dry containers, 19% reefer, and 5% special containers, focusing on high liquidity and resilience.

• PNW Railcars invests in covered hoppers and tank cars, mirroring market composition and diversifying risk.

• Risk management includes flexible investments, remarketing, fixed-rate financing, and asset sales to mitigate inventory, interest, credit, and residual value risks.