Mitsubishi HC Capital (8593) Q3 2026 earnings summary

Executive summary

• Net income for the nine months ended December 31, 2025, rose 55.1% year-over-year to ¥134.9bn, driven by strong Real Estate and Aviation segments, lower credit costs, and a positive fiscal period adjustment from aligning subsidiary fiscal year-ends.

• Income gain increased 14.2% YoY to ¥337.2bn, while asset-related gains declined due to the absence of large prior-year sales, but underlying gains improved from new asset sales.

• Segment profit growth was broad-based, with notable increases in Real Estate (+¥12.8bn), Aviation (+¥8.4bn), Logistics (+¥7.7bn), and Global Customer Business (+¥7.4bn).

• Revenues increased 6.9% year-over-year to ¥1,659.7bn, and operating income grew 41.3% to ¥194.8bn.

• Comprehensive income reached ¥187.4bn, up 17.1% year-over-year.

Financial highlights

• Revenues grew 6.9% YoY to ¥1,659.7bn; operating income surged 41.3% to ¥194.9bn; net income attributable to owners rose 55.1% to ¥134.97bn.

• Total assets increased 6.4% from end-FY2024 to ¥12.52tn; segment assets rose 6.1% to ¥11.60tn.

• Gross profit rose 12.0% year-over-year to ¥388.0bn.

• Earnings per share increased to ¥94.01 from ¥60.64 year-over-year.

• Net assets increased to ¥1,932.2bn, with an equity ratio of 15.3%.

Outlook and guidance

• Full-year net income forecast remains at ¥160.0bn (EPS ¥111.44), with 3Q progress at 84.4%; higher 4Q expenses, including restructuring, are anticipated.

• Customer Solutions full-year profit expected slightly below forecast due to delayed revenue from new services; Global Customer Business to exceed forecast despite restructuring costs.

• Dividend per share forecast raised to ¥45 (payout ratio 40.4%).