■Business trend of Mizuho Lease <8425>

3. Financial Conditions

From a financial perspective, total Assets at the end of the interim period for the fiscal year ending March 2025 increased by 266,605 million yen compared to the end of the previous period, reaching 3,629,941 million yen. Total liabilities increased by 196,941 million yen to 3,230,476 million yen, and total net Assets rose by 69,665 million yen to 399,465 million yen. With the expansion of business operations, rental Assets and investment securities increased, while interest-bearing debt also rose by 7.3% to 3,049,109 million yen (comprising short-term borrowings up 12.5% to 589,800 million yen, long-term borrowings up 7.5% to 1,247,855 million yen, CP up 1.1% to 662,700 million yen, payment liabilities due to receivables securitization down 6.7% to 91,545 million yen, and corporate bonds up 13.3% to 457,208 million yen). Additionally, a third-party allocation of new shares was carried out to Marubeni and Mizuho Financial, increasing capital stock and capital surplus by 20,837 million yen each. As a result, the equity ratio increased by 1.1 percentage points to 10.3%.

Although interest-bearing debt is on an increasing trend due to business expansion, it is not considered a major concern, taking into account the maintenance of a high credit rating, stable fundraising through diversification of funding methods, and the upward trend in the equity ratio, the company believes that financial soundness is being maintained.

(Written by: Fisco Guest Analyst Masanobu Mizuta)