Loading…
Leasing and asset-financing group (aircraft, logistics, autos, renewables), formed from MUFG Lease and Hitachi Capital.
Leasing and asset-financing group (aircraft, logistics, autos, renewables), formed from MUFG Lease and Hitachi Capital.
Earns lease and loan interest and fees: it buys equipment such as machinery, vehicles and aircraft and leases it out, so profit is the spread over funding cost plus gains when it sells assets at the end of a lease. Formed in 2021 by merging MUFG's lease arm and Hitachi Capital, it has large overseas business, including aircraft lessor Jackson Square Aviation.
In one line: A Japanese GE Capital-style leasing conglomerate.
Moat: narrow (scale, customer qualification, distribution). Backing from MUFG and Hitachi gives balance-sheet scale and vendor relationships, but leasing is a competitive, spread-based business.
Headquarters: Tokyo, Japan · Founded: 1971 · Employees: 7,950
Size Mitsubishi HC Capital (8593.T) is a Japan Financials company (Finance/Rental/Leasing) with a market value of $11.9B, the 118th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,302 on 6 Nov 2026.
Performance Over six months the shares fell 8.6%, against -1.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +15.8%); the operating margin is 9.6% (peer median 31.5%).
Valuation It trades at 0.93× book value against a peer median of 1.80× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 5.9%; Mitsubishi HC Capital delivers 7.2%, so the price asks less than the business earns today.
Credit Mitsubishi HC Capital has 8 bonds outstanding ($4.03B), rated A- by the agencies and trading like BBB at a weighted spread of 94 bp.
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.17T | ¥2.22T | ¥2.09T | ¥1.95T | ¥1.90T |
| Revenue growth | — | +6% | +7% | +3% | — |
| Gross profit | ¥462B | ¥500B | ¥463B | ¥380B | ¥357B |
| EBITDA | ¥608B | ¥651B | ¥576B | ¥495B | ¥492B |
| Net income | ¥137B | ¥162B | ¥135B | ¥124B | ¥116B |
| Free cash flow | n/a | -¥338B | -¥265B | -¥47.1B | ¥23.6B |
| Capital expenditure | n/a | ¥10.8B | ¥6.98B | ¥7.53B | ¥8.79B |
| Total debt | ¥10.1T | ¥9.92T | ¥8.88T | ¥8.50T | ¥8.30T |
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 |
|---|---|---|---|---|---|---|
| Mitsubishi HC Capital 8593.T | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% |
| Orix 8591.T | $35.7B | +2% | +17% | 14% | 1.26× | 12.4% |
| Tokyo Century 8439.T | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% |
| 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 | 8593.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | +3.7% | 5th lowest of 21 |
| 6-month return | -8.6% | -1.6% | 10th lowest of 21 |
| Return on equity | 7.2% | 13.1% | 3rd lowest of 21 |
| Price / book | 0.93× | 1.80× | 5th cheapest of 21 |
| Trailing P/E | 13.7× | 11.1× | 10th most expensive of 21 |
| ROE the price implies | 5.9% | 17.6% | least demanding of 21 |
| ROE delivered | 7.2% | 12.6% | 3rd lowest of 20 |
| Bond spread | 94 bp | 128 bp | 3rd tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Mitsubishi HC Capital 8593.T | Japan | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% | 7.2% |
| Muthoot Finance MUTHOOTFIN.NS | India | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% | 31.8% |
| One 97 Communications PAYTM.NS | India | $12.2B | +50% | +24% | 5% | 6.92× | 47.0% | 5.4% |
| Power Finance PFC.NS | India | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% | n/a |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Tata Capital TATACAP.NS | India | $16.0B | +10% | +18% | 14% | 3.08× | 41.2% | 14.0% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | India | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% | 20.6% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
| Kaspi.kz Joint Stock Company Sponsored ADR RegS KSPI | United States | $17.7B | +7% | +39% | 45% | 3.15× | 13.6% | 45.4% |
| 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% |
| Bajaj Housing Finance BAJAJHFL.NS | India | $7.05B | -9% | +17% | 12% | 2.77× | 41.1% | 12.4% |
| SOFI SOFI | United States | $21.0B | +3% | +38% | 7% | 1.86× | 27.5% | 7.4% |
| Jiangsu Financial Leasing 600901.SS | China | $6.66B | +12% | +14% | 13% | 1.67× | 5.9% | 13.5% |
| OneMain OMF | United States | $6.42B | 0% | +6% | 23% | 1.90× | 18.5% | 22.7% |
| Synchrony Financial SYF | United States | $23.0B | +1% | -2% | 20% | 1.55× | 16.7% | 19.8% |
Mitsubishi HC Capital has 8 bonds outstanding with $4.03B face value. The agencies rate it A-; its bonds trade like BBB. Weighted yield 4.84%, a spread of 94 bp over government bonds.