Mizuho LeasingMizuho Leasing Company, Limited8425東証プライムその他金融業FY ending Mar 2026, consolidated, J-GAAP

Mizuho Leasing revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +32.5% from the prior year, operating profit -8.8%.

Five-year trend

Revenue¥921.6B
FY ending Mar 2022: ¥554.8B¥554.8BFY ending Mar 2023: ¥529.7B¥529.7BFY ending Mar 2024: ¥656.1B¥656.1BFY ending Mar 2025: ¥695.4B¥695.4BFY ending Mar 2026: ¥921.6B¥921.6BFY22FY23FY24FY25FY26
Operating income¥44.7B
FY ending Mar 2022: ¥17.9B¥17.9BFY ending Mar 2023: ¥31.8B¥31.8BFY ending Mar 2024: ¥39.5B¥39.5BFY ending Mar 2025: ¥49B¥49BFY ending Mar 2026: ¥44.7B¥44.7BFY22FY23FY24FY25FY26
Operating margin4.8%
FY ending Mar 2022: 3.2%3.2%FY ending Mar 2023: 6.0%6.0%FY ending Mar 2024: 6.0%6.0%FY ending Mar 2025: 7.0%7.0%FY ending Mar 2026: 4.8%4.8%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin5.2%
Asset turnover0.23×
ROA1.2%
ROA1.2%
Financial leverage11.69×
ROE13.8%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin5.2%
2022: 2.7%2.7%2023: 5.4%5.4%2024: 5.4%5.4%2025: 6.0%6.0%2026: 5.2%5.2%2223242526
Asset turnover0.23×
2022: 0.20×0.20×2023: 0.19×0.19×2024: 0.21×0.21×2025: 0.19×0.19×2026: 0.23×0.23×2223242526
ROA1.2%
2022: 0.5%0.5%2023: 1.0%1.0%2024: 1.1%1.1%2025: 1.2%1.2%2026: 1.2%1.2%2223242526
Financial leverage11.69×
2022: 13.26×13.26×2023: 13.05×13.05×2024: 12.97×12.97×2025: 12.43×12.43×2026: 11.69×11.69×2223242526
ROE13.8%
2022: 7.2%7.2%2023: 13.0%13.0%2024: 14.5%14.5%2025: 14.4%14.4%2026: 13.8%13.8%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.7%0.20×0.5%13.26×7.2%
20235.4%0.19×1.0%13.05×13.0%
20245.4%0.21×1.1%12.97×14.5%
20256.0%0.19×1.2%12.43×14.4%
20265.2%0.23×1.2%11.69×13.8%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue108.6%
2021: 61.4%61.4%2022: 55.6%55.6%2023: 70.4%70.4%2024: 92.0%92.0%2025: 130.6%130.6%2026: 108.6%108.6%212223242526
PPE ÷ total assets24.0%
2021: 11.7%11.7%2022: 11.2%11.2%2023: 12.6%12.6%2024: 18.0%18.0%2025: 23.3%23.3%2026: 24.0%24.0%212223242526
Goodwill ÷ parent equity2.8%
2021: 0.0%0.0%2024: 1.8%1.8%2025: 1.3%1.3%2026: 2.8%2.8%212223242526
Goodwill balance¥10.1B
2021: ¥29M¥29M2024: ¥4.62B¥4.62B2025: ¥4.21B¥4.21B2026: ¥10.1B¥10.1B212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

Receivable days4d
2021: 1d1d2022: 0d0d2023: 1d1d2024: 1d1d2025: 1d1d2026: 4d4d212223242526
Payable days16d
2021: 29d29d2022: 25d25d2023: 19d19d2024: 17d17d2025: 19d19d2026: 16d16d212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue554,809529,700656,127695,423921,592
Cost of revenue500,274468,333582,506609,080832,733
Gross profit54,53461,36673,62186,34388,859
SG&A36,64029,61034,10937,37744,185
Operating income17,89331,75639,51148,96644,674
Pretax income20,22740,03651,08065,87366,796
Income tax4,68610,58713,97620,97817,926
Net income attributable to owners14,90228,39835,22042,03847,609
Operating margin3.2%6.0%6.0%7.0%4.8%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

2%
0%
Property, plant and equipment 24%
1%
Investment securities 12%
Other assets 61%

Funding

1%
Interest-bearing debt 57%
Other liabilities 31%
Equity 11%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥24.5B¥33.5B¥56.2B¥68B¥88.8B
Total assets¥2.75T¥2.95T¥3.36T¥3.9T¥4.18T
Net assets¥230.8B¥275.8B¥329.8B¥401.5B¥454.5B
Share capital¥26.1B¥26.1B¥26.1B¥46.9B¥46.9B
Trade receivables¥549M¥751M¥1.24B¥2.72B¥9.53B
Property, plant and equipment¥308.5B¥372.8B¥603.8B¥908.3B¥1T
Intangible assets excluding goodwill¥16.7B¥15.1B¥19.9B¥22.9B¥32B
Goodwill——¥4.62B¥4.21B¥10.1B
Investment securities¥203.7B¥240.6B¥306.4B¥377.2B¥495.3B
Current assets¥2.17T¥2.28T¥2.38T¥2.54T¥2.6T
Current liabilities¥1.55T¥1.57T¥1.72T¥1.99T¥1.99T
Trade payables¥34.7B¥24.5B¥27.2B¥30.9B¥35.9B
Short-term borrowings¥380.3B¥418.4B¥524.1B¥711.9B¥767B
Long-term borrowings¥681.9B¥747.7B¥833.2B¥959B¥1.19T
Bonds¥221B¥280.7B¥366.7B¥423.3B¥413.2B
Interest-bearing debt¥1.28Tderived¥1.45Tderived¥1.72Tderived¥2.09Tderived¥2.37Tderived
Total liabilities¥2.52T¥2.68T¥3.03T¥3.5T¥3.72T
Non-controlling interests¥11.4B¥13.1B¥20.9B¥18.6B¥26.4B
Equity attributable to owners of parent¥207.3B¥229.9B¥257.2B¥327B¥363.4B
Retained earnings¥159B¥181.5B¥208.5B¥239.6B¥275.5B
Treasury stock-¥1.71B-¥1.62B-¥1.04B-¥2.06B-¥1.85B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第57期(2025/04/01-2026/03/31)

    ID S100YESP2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第56期(2024/04/01-2025/03/31)

    ID S100W17L2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第55期(2023/04/01-2024/03/31)

    ID S100TSDI2024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第54期(2022/04/01-2023/03/31)

    ID S100R5R52023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第53期(令和3年4月1日-令和4年3月31日)

    ID S100OF9S2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第52期(令和2年4月1日-令和3年3月31日)

    ID S100LT292021-06-28Open

Extracted from XBRL: 53 / Derived from other figures: 1

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