NEC Capital Solutions Lifts FY2026 Forecast on Strong Revenues and Margin Expansion

NEC Capital Solutions Limited (ＮＥＣキャピタルソリューション株式会社), a leading lessor in Japan specializing in information and communication equipment, reported robust financial results for its fiscal year ending March 2026, driven by strong performance across its core leasing and investment businesses. The company, which operates as a subsidiary of SBI新生銀 (SBI Nikko Securities), delivered a 20.1% year-over-year (YoY) increase in revenue, with operating profit and net profit also rising sharply.

Key Numbers (JPY bn)

Metric FY2026 (Actual) YoY Change
Revenue 306.2 +20.1%
Operating Profit 10.6 +36.4%
Ordinary Income 11.4 +21.1%
Net Profit 9.18 +38.9%
Operating Margin 3.5% —
Equity Ratio 9.7% —

Business Overview NEC Capital Solutions is a major player in the Japanese leasing market, with a focus on information and communication technology (ICT) equipment, as well as a growing investment and finance business. The company is well-positioned within the broader SBI group, leveraging its parent’s financial infrastructure and market reach.

Analysis The company’s FY2026 results reflect a strong performance across its core leasing operations, particularly in the ICT sector and government-related projects. The 20.1% increase in revenue was driven by successful contract acquisitions under the GIGA School Initiative Phase 2 and large-scale government contracts. These gains were amplified by a 36.4% rise in operating profit, despite an operating margin of 3.5%, which remains below the industry average of 6.0%. This suggests that while the company is growing rapidly, it still faces margin pressures typical of the broader leasing sector.

The investment and finance segments also contributed positively, with the investment arm benefiting from increased returns on debt and equity investments. However, the finance segment saw a drag from declining factoring volumes, which slightly offset gains in other areas.

Next Year Guidance Management has provided forward-looking guidance for the upcoming fiscal year, with the following targets:

Metric FY2027 (Forecast) YoY Change vs. FY2026
Revenue 310.0 +1.3%
Operating Profit 16.5 +55.4%
Ordinary Income 17.0 +48.8%
Net Profit 10.0 +8.9%

The revenue target of JPY 310.0bn (+1.3% YoY) appears modest compared to the current year’s strong performance, while the operating profit forecast suggests significant growth.