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Diversified leasing and financial services company, leasing autos, aircraft, equipment and real estate.
Diversified leasing and financial services company, leasing autos, aircraft, equipment and real estate.
Buys equipment, vehicles and aircraft and rents them out, earning lease income and gains when assets are resold or leases end, funded by bank loans and bonds, so funding costs matter. Backed by Itochu and Mizuho as long-standing shareholders.
In one line: A diversified leasing company like GATX/Air Lease combined.
Moat: narrow (scale, distribution). Diversified leasing scale and ties to Mizuho/Itochu group provide funding and deal flow.
Headquarters: Tokyo, Japan · Founded: 1969 · Employees: 8,583
Size Tokyo Century (8439.T) is a Japan Financials company (Finance/Rental/Leasing) with a market value of $7.50B, the 171st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,408 on 6 Nov 2026.
Performance Over six months the shares gained 11.9%, against -9.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +6.5%); the operating margin is 10.6% (peer median 34.5%).
Valuation It trades at 1.01× book value against a peer median of 1.82× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 7.7%; Tokyo Century delivers 11.6%, so the price asks less than the business earns today.
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.50T | ¥1.46T | ¥1.37T | ¥1.35T | ¥1.32T |
| Revenue growth | — | +7% | +2% | +2% | — |
| Gross profit | ¥343B | ¥328B | ¥280B | ¥253B | ¥226B |
| EBITDA | ¥448B | ¥432B | ¥383B | ¥351B | ¥319B |
| Net income | ¥124B | ¥111B | ¥85.3B | ¥72.1B | ¥4.77B |
| Free cash flow | n/a | -¥92.8B | ¥94.7B | -¥121B | -¥18.9B |
| Capital expenditure | n/a | ¥20.8B | ¥17.8B | ¥15.1B | ¥9.63B |
| Total debt | ¥5.37T | ¥5.17T | ¥4.95T | ¥4.78T | ¥4.54T |
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 |
|---|---|---|---|---|---|---|
| Tokyo Century 8439.T | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% |
| Chailease 5871.TW | $5.74B | -10% | -4% | 12% | 0.97× | 3.8% |
| Orix 8591.T | $35.7B | +2% | +17% | 14% | 1.26× | 12.4% |
| Mitsubishi HC Capital 8593.T | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% |
| AerCap AER | $26.2B | +13% | 0% | 17% | 1.38× | 12.4% |
| Fuyo General Lease 8424.T | $2.34B | -6% | +19% | 5% | 0.72× | 4.8% |
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 | 8439.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | +0.2% | 3rd lowest of 21 |
| 6-month return | +11.9% | -9.6% | 3rd highest of 21 |
| Return on equity | 11.6% | 12.5% | 8th lowest of 21 |
| Price / book | 1.01× | 1.82× | 7th cheapest of 21 |
| Trailing P/E | 9.5× | 15.8× | 8th cheapest of 21 |
| ROE the price implies | 7.7% | 16.8% | 5th least demanding of 21 |
| ROE delivered | 11.6% | 12.4% | 8th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Tokyo Century 8439.T | Japan | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% | 11.6% |
| L&T Finance LTF.NS | India | $7.36B | -9% | +17% | 12% | 2.38× | 45.8% | 12.3% |
| Piramal Finance PIRAMALFIN.NS | India | $7.17B | +13% | +71% | 7% | 1.58× | 13.0% | 6.5% |
| BOC Aviation 2588.HK | Hong Kong | $7.09B | -3% | -2% | 12% | 1.01× | 6.2% | 11.8% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
| Bajaj Housing Finance BAJAJHFL.NS | India | $7.05B | -9% | +17% | 12% | 2.77× | 41.1% | 12.4% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| Jiangsu Financial Leasing 600901.SS | China | $6.66B | +12% | +14% | 13% | 1.67× | 5.9% | 13.5% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| OneMain OMF | United States | $6.42B | 0% | +6% | 23% | 1.90× | 18.5% | 22.7% |
| SBI Cards & Payment Services SBICARD.NS | India | $5.89B | -10% | +6% | 16% | 3.24× | 40.7% | 16.3% |
| Chailease 5871.TW | Taiwan | $5.74B | -10% | -4% | 12% | 0.97× | 3.8% | 11.5% |
| Element Fleet Management EFN.TO | Canada | $5.61B | -31% | +5% | 11% | 2.06× | 9.2% | 10.6% |
| Credit Acceptance CACC | United States | $5.37B | -1% | +2% | 23% | 3.86× | 38.2% | 22.7% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
| Power Finance PFC.NS | India | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% | n/a |
| Mitsubishi HC Capital 8593.T | Japan | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% | 7.2% |