Tokyo Century : Financial Results for FY2023 Consolidated 1Q

Consolidated Financial Results

For the Three Months of Fiscal Year Ending March 31, 2024

August 9, 2023

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1. Financial Highlights

Financial Highlights		4
Net Income & ROA by Operating Segment	5
Ordinary Income & ROA by Operating Segment	6
Breakdown of YoY Changes in Net Income (Loss)	7
Breakdown of Ordinary Income (Core earnings, gain on	8
sales, impairment, etc.)
Balance of Segment Assets by Operating Segment	9
FY2023 Consolidated Results Forecast	10
2. Results by Operating Segment
Results of Equipment Leasing	12
Results of Automobility	13
Balance of Segment Assets and Transaction Volume in	14
Automobility
Results of Specialty Financing	15
Balance of Segment Assets in Specialty Financing	16
Results of International Business	17
Balance of Segment Assets in International Business	18
Results of Environmental Infrastructure	19
3. Business Topics
Performance of NTT TC Leasing	21
Improved Profitability of Car Rental Business	22
Aviation Business 1 Aviation Market Overview	23
Aviation Business 2	ACG's Financial Performance	24
Aviation Business 3	ACG's Portfolio	25
Aviation Business 4 ACG's Capital Procurement Activities	26
Real Estate Business	Portfolio Strategy	27
CSI's Performance		28
CSI's Global Strategies	29
Development of Environment-Related Businesses	30
Strengthening of Sales Capabilities and Corporate Value	31
Improvement of OAL and OBL

4. Collaboration with the NTT Group

Status of Business Collaboration with the NTT Group

33

5. Promotion of Sustainability Management

Promotion of Sustainability Management	35
Investment in Forestry Fund	36
Carbon Neutrality Policy	37
Reduction in GHG Emissions	38
Renewable Energy Generation Capacity	39
Aviation Business	40
Enhanced Human Resources	41
Corporate Governance	42
Reference Information on Sustainability Management	43

6. Appendix

Transition of Business Portfolio	45
Credit Ratings	46
Statement of Income	47
Balance Sheet	48
Interest-Bearing Debt	49
Quarterly Changes in Results by Subsidiary in Automobility	50
Breakdown of Ordinary Income by Operating Segment	51
(Core earnings, gain on sales, impairment, etc.)
Major Group Companies (Domestic)	52
Major Group Companies (Overseas)	53
External Evaluation: Inclusion in Global Indices	54

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1. Financial Highlights

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Financial Highlights

Ordinary income decreased 0.7% YoY to ¥31.8 billion, and net income was ¥18.2 billion, up ¥37.7 billion, due to the dissipation of extraordinary losses

（Billions of yen）

	FY2022	FY2023
		Change	% Change
	Q1 Result	Q1 Result
Revenues	315.1	329.0		13.8	4.4%
Operating income	26.9	28.2		1.3	4.9%
Ordinary income	32.0	31.8		-0.2	-0.7%
Net income (loss) attributable to owners of parent	-19.5	18.2		37.7	-
ROA (Net income / Total assets)	-	1.2%		-
ROE（Net income / Shareholders' equity)	-	9.5%		-
Average foreign exchange rate (USD1)	￥116.34	￥132.43	(Foreign exchange rate for January-
				March for major overseas subsidiaries)

FY2023 Forecast

Announced on	% Progress
May 12, 2023
-	-
-	-
110.0	28.9%
70.0	26.0%

	Mar. 31, 2023	Jun. 30, 2023
	Change	% Change
Total assets	6,082.1	6,151.8	69.7	1.1%
Balance of segment assets	5,363.8	5,449.2	85.4	1.6%
Shareholders' equity	761.6	775.6	14.0	1.8%
Shareholders' equity ratio	12.5%	12.6%	0.1pt
Foreign exchange rate at quarter end (USD1)	￥132.70	￥133.54 (Foreign exchange rate for major overseas
* Profitability such as ROE and ROA is calculated on annualized basis			subsidiaries as of the end of March)

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Net Income & ROA by Operating Segment

Net income increased ¥37.7 billion YoY due to the recovery of Specialty Financing and International Business

Net income	ROA
（Billions of yen）	(Net income / Segment assets)

	FY2022	FY2023
	Q1 Result	Q1 Result
	Change
Equipment Leasing	6.7	6.5	-0.2
Automobility	3.4	5.5	2.2
Specialty Financing	-18.0	3.7	21.7
International Business	-8.1	2.5	10.6
Environmental Infrastructure	0.5	2.3	1.8
Other	-4.0	-2.4	1.6
Total (Net income)	-19.5	18.2	37.7

FY2023		FY2023
Forecast	% Progress	Q1 Result	Change
24.0	27%	2.0%	-
13.0	43%	3.6%	1.4pt
26.0	14%	0.6%	-
14.0	18%	1.5%	-
4.0	58%	3.4%	2.1pt
-11.0	22%
70.0	26%	1.3%	-

ROA (Net income / Total assets)

1.2%

-

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