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Japanese leasing company financing equipment and real estate for corporate clients, affiliated with Mizuho Financial Group.
Japanese leasing company financing equipment and real estate for corporate clients, affiliated with Mizuho Financial Group.
Buys equipment or property that clients choose and leases it to them over several years, earning the difference between lease receipts and its own funding cost, plus gains when assets are sold or re-leased at the end. Introductions from the Mizuho banking network supply much of its new business.
In one line: Japan's answer to a bank-affiliated leasing company like a smaller PNC Equipment Finance.
Moat: narrow (scale, distribution). Mizuho banking-group distribution channel for corporate leasing referrals.
Headquarters: Tokyo, Japan · Employees: 2,434
Size Mizuho Leasing (8425.T) is a Japan Financials company (Finance/Rental/Leasing) with a market value of $2.45B, the 420th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,236 on 6 Nov 2026.
Performance Over six months the shares fell 13.4%, against -5.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 15.9% over the last twelve months (peer median +16.8%); the operating margin is 5.4% (peer median 30.8%).
Valuation It trades at 0.77× book value against a peer median of 1.83× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 6.0%; Mizuho Leasing delivers 13.3%, so the price asks less than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥912B | ¥922B | ¥695B | ¥656B | ¥530B |
| Revenue growth | — | +33% | +6% | +24% | — |
| Gross profit | ¥94.9B | ¥88.9B | ¥86.3B | ¥73.6B | ¥61.4B |
| EBITDA | ¥73.0B | ¥74.8B | ¥70.6B | ¥58.3B | ¥49.0B |
| Net income | ¥55.6B | ¥47.6B | ¥42.0B | ¥35.2B | ¥28.4B |
| Free cash flow | n/a | ¥6.17B | -¥322B | -¥158B | -¥42.8B |
| Capital expenditure | n/a | ¥10.9B | ¥6.61B | ¥3.57B | ¥1.81B |
| Total debt | ¥3.60T | ¥3.50T | ¥3.30T | ¥2.86T | ¥2.56T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Mizuho Leasing 8425.T | $2.45B | -13% | +16% | 13% | 0.77× | 6.0% |
| Fuyo General Lease 8424.T | $2.34B | -6% | +19% | 5% | 0.72× | 4.8% |
| Ricoh Leasing Company,Ltd 8566.T | $1.20B | 0% | +4% | 5% | 0.77× | 4.3% |
| Mitsubishi HC Capital 8593.T | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% |
| Tokyo Century 8439.T | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% |
| Orix 8591.T | $35.7B | +2% | +17% | 14% | 1.26× | 12.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8425.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.9% | -1.4% | 9th lowest of 21 |
| 6-month return | -13.4% | -5.0% | 7th lowest of 21 |
| Return on equity | 13.3% | 13.2% | 11th highest of 21 |
| Price / book | 0.77× | 1.83× | 5th cheapest of 21 |
| Trailing P/E | 6.2× | 13.0× | 4th cheapest of 21 |
| ROE the price implies | 6.0% | 19.9% | 4th least demanding of 21 |
| ROE delivered | 13.3% | 12.9% | 9th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Mizuho Leasing 8425.T | Japan | $2.45B | -13% | +16% | 13% | 0.77× | 6.0% | 13.3% |
| Capri Global Capital CGCL.NS | India | $2.44B | +20% | +53% | 18% | 2.90× | 21.5% | 17.9% |
| UWM UWMC | United States | $2.44B | -56% | +16% | 2% | 2.67× | 32.8% | 2.1% |
| Encore Capital ECPG | United States | $2.42B | +36% | +29% | 31% | 2.24× | 21.7% | 30.5% |
| Fuyo General Lease 8424.T | Japan | $2.34B | -6% | +19% | 5% | 0.72× | 4.8% | 4.5% |
| China Development Bank Financial Leasing 1606.HK | Hong Kong | $2.66B | +4% | -5% | 13% | 0.40× | 4.5% | 12.6% |
| Upstart UPST | United States | $2.17B | -24% | +39% | 8% | 2.44× | 37.8% | 8.0% |
| Custom Truck One Source CTOS | United States | $2.12B | -4% | +6% | 4% | 2.58× | 26.7% | 3.7% |
| IIFL Finance IIFL.NS | India | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% | 17.6% |
| Cholamandalam Financial CHOLAHLDNG.NS | India | $2.89B | -17% | +18% | 17% | 1.77× | 26.2% | n/a |
| Aadhar Housing Finance AADHARHFC.NS | India | $1.99B | -14% | +18% | 16% | 2.48× | 31.1% | n/a |
| PNB Housing Finance PNBHOUSING.NS | India | $3.03B | +5% | +11% | 12% | 1.42× | 19.4% | 12.3% |
| McGrath RentCorp MGRC | United States | $3.05B | +9% | +2% | 13% | 2.38× | 13.2% | 12.9% |
| Hercules Capital HTGC | United States | $3.06B | 0% | +40% | 16% | 1.32× | 10.4% | 15.7% |
| AEON Financial Service 8570.T | Japan | $1.95B | -9% | +8% | 5% | 0.67× | 5.2% | 4.9% |
| Marui 8252.T | Japan | $3.09B | -7% | +8% | 12% | 2.12× | 7.1% | 12.4% |
| SLM SLM | United States | $3.10B | -25% | -6% | 25% | 1.55× | 13.8% | 24.7% |
| LIC Housing Finance LICHSGFIN.NS | India | $3.12B | -9% | -1% | 14% | 0.67× | 11.6% | 14.3% |
| Federal Agricultural Mortgage AGM | United States | $1.90B | 0% | +31% | 13% | 1.56× | 14.0% | 13.5% |
| Manappuram Finance MANAPPURAM.NS | India | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% | n/a |
| CreditAccess Grameen CREDITACC.NS | India | $1.84B | -27% | +17% | 20% | 1.95× | 20.5% | 19.7% |