Business Report the 45th - Tokyo Century Corporation · Corporate profile Fiscal Year 2012 From April 1, 2012 to March 31, 2013 Fiscal Year 2013 From April 1, 2013 to March 31, 2014

NCS mascot “Kurumaru-kun” (Trademark application in process)

Focus on the TC-Lease Group

Nippon Car Solutions Co., Ltd. (NCS) merged with Tokyo Auto Leasing Co., Ltd. in October 2013 to form the new NCS. Through automobile leasing, maintenance contracts and other services mainly for corporate customers, NCS is one of the top groups in the automobile leasing industry with a fleet of approximately 460,000 vehicles under management.

The social environment surrounding the automobiles is constantly changing. In this envi-ronment, our customers are faced with issues such as “vehicle management”, including streamlining and cost reduction with regard to vehicle administration, “risk management (safety and security)” to reduce traffic accidents, and “eco-promotion” as environmental measures. NCS is developing a range of solutions to resolve these issues.

For vehicle management

For risk management

For eco-promotion

Corporate profile

Founded : February 1987Shareholders : Century Tokyo Leasing Corporation

59.5% Nippon Telegraph and Telephone

Corporation 40.5%Main business : Automobile leasing and mainte-

nance contracts businessURL : http://www.ncsol.co.jp/

Traveling and driving status update NCS Drive Doctor

Lease contract information, maintenance implementation information WebCAST

Electric automobiles, hybrid cars, etc. Support for the introduction of environmentally friendly cars

With promotion of traffic safety Support for promotion of environmentally friendly driving

Complete traffic safety support NCS Traffic Safety Program

Please visit our website for details.

(available in Japanese)

TC-Lease

Securities Code: 8439

Business Report

To our shareholders

TC-Lease is aiming to become a “Comprehensive Financial Services Enterprise.”

TC-Lease Group was selected as the first case! Hello from TC-Lease around the worldFor Abenomics’ “third arrow” leasing measures A “waterside city” with one of China’s foremost economy

Suzhou, China

For the Fiscal Year Ended March 31, 2014From April 1, 2013 to March 31, 2014the45th

FUJISOFT Bldg.,3 Kanda-neribeicho, Chiyoda-ku, Tokyo 101-0022 Japan

Co., Ltd. as a consolidated subsidiary in October. In overseas, we moved ahead with preparations for aiming at expansion of the automobile financing business in China, establishing “Tong-Sheng Finance Leasing Co., Ltd.,” an automobile leasing company in Suzhou City, as a whol ly owned subsid iary of the Company’s equity-method affiliate, President Tokyo Corporation, in April this year. China has recently surpassed the U.S. in new car sales volume and became the world’s top-ranked country, and is a market where growth can be much anticipated as an automobile leasing market. We will continue to work on the automobile leasing business in this promising market.

Please tell us about the forecast of consolidated results for the fiscal year ending March 31, 2015, and your dividend policy.Looking at consolidated results for the fiscal year end-ing March 31, 2015, operating assets are expected to increase in areas where growth are anticipated such as the automobile financing business, ship, aircraft, envi-ronment and energy fields. Total revenues are projected to increase 3.8% year on year to 860.0 billion yen, operating income is forecasted to grow 9.5% year on year to 56.3 billion yen, ordinary income to be up 3.3% year on year to 57.0 billion yen, and net income to rise 0.8% to 33.3 billion yen.

As for dividends, the Group plans to pay annual divi-dends of 56 yen per share (interim dividend of 28 yen and full year-end dividend of 28 yen), up 4 yen year on year, thus continuing to increase the dividends as we have since the fiscal year ended March 31, 2005.

By creating a structure that will enable us to stably achieve our management target of “consolidated ordinary income of 50.0 billion yen or more,” we will continue to realize sustained growth while meeting the expectations of our shareholders and all our stakeholders.

1 2

President & CEO Shunichi Asada

To our shareholders

Please tell us about the financial results for the fiscal year ended March 31, 2014.During the fiscal year under review, Japanese economy was on a recovery track as the effects of the policies known as the “three arrows” of Abenomics began to take hold and business sentiment improved, among other factors. In addition, this was a year in which public atten-tion focused on the leasing industry, since leasing was built into policies as part of the government’s growth strategy. According to statistics from Japan Leasing Association, the amount of capital investment financed by leasing for fiscal year 2013 grew 7.3% from the previ-ous consolidated fiscal year to 4,841.1 billion yen, a result showing signs of a recovery in leasing demand.

Under these circumstances, with regard to the Group’s consolidated results for the year under review at the conclusion of the first year of its second medi- um-term management plan, transaction volume of new contracts increased 19.6% to 1,409.4 billion yen from the previous consolidated fiscal year, and a balance of operating assets including business guarantees increased 16.3% to 2,646.8 billion yen from the end of the previous consolidated fiscal year. In terms of profits and losses, total revenues increased 19.9% to 828.6 billion yen from the previous consolidated fiscal year, operating income increased 22.5% to 51.4 billion yen from the previous consolidated fiscal year, ordinary income increased 19.2% to 55.2 billion yen from the

previous consolidated fiscal year, and net income increased 14.2% to 33.1 billion yen from the previous consolidated fiscal year. As in the previous consolidated fiscal year, each of these marked record highs.

Please tell us about current progress of the three-year medium-term management plan launched in April 2013, which has completed its first year.As strategies for “strengthening the sales base” under the second medium-term management plan, the Group has set four pillars: “enhancing competitiveness in the leasing business,” “bolstering the financing business,” “expanding overseas businesses,” and “reinforcing activi-ties in the automobile financing business in Japan and overseas,” and has been working on these pillars during the year. Initiatives during the first year of the second medium-term management plan included becoming the first Japanese company to set up a commercial factoring company in Shanghai City with the establishment of “Century Tokyo Factoring China Corporation” in June 2013, and concluded its first deal in October that year. In the future, we intend to create a framework that is able to respond in greater detail to the financing needs of customers mainly for Japanese companies in the region.

In addition, the Group established “TC Aviation Capital Ireland Limited,” a company specialized in aircraft financ-ing, in Ireland in October. Together with our equity-method affiliate, GA Telesis, LLC, a major U.S. aircraft parts and services provider, we will capture the global demands for aircraft where growth is anticipated, centered on our three bases of Japan, the U.S. and Europe.

Furthermore, this year was an extremely important year for initiatives in the automobile financing business. In Japan, we have consolidated Nippon Rent-A-Car Service, Inc. with its familiar red signage in June, and merged Tokyo Auto Leasing Co., Ltd. and Nippon Car Solutions Co., Ltd. to form the new Nippon Car Solutions

“Comprehensive Financial Services Enterprise.”

TC-Lease is aiming to become a

Consolidated Statements of Income (Summary)

Consolidated Financial Information

Assets and Liabilities(As of March 31, 2014)

(Millions of yen)

(Millions of yen)

(Amounts less than one million yen have been omitted.)

Main Features on Assets and LiabilitiesTotal assets2,884,773

Main Features on Consolidated Statements of Income

2,646.8 billion yen

55.2 billion yen

2,211.7 billion yen

33.1 billion yen

Major affiliates

Company name Century Tokyo Leasing Corporation(Abbreviation: TC-Lease)

Address FUJISOFT Bldg., 3 Kanda-neribeicho, Chiyoda-ku, Tokyo 101-0022 Japan

Company Representative

President & CEO Shunichi AsadaChairman & Co-CEO Toshihito Tamba

Founded July 1, 1969

Capital amount 34.2 billion yen

Number of employees

3,309 (Consolidated) 1,020 (Non-consolidated)

DomesticNippon Car Solutions Co., Ltd.Orico Auto Leasing Co., Ltd.Nippon Rent-A-Car Service, Inc.Fujitsu Leasing Co., Ltd.IHI Finance Support CorporationS.D.L Co., Ltd.TCI Finance CorporationITEC Leasing Co., Ltd.TC Property Solutions CorporationTRY, Inc.TC Agency Corporation

OverseasCentury Tokyo Leasing China CorporationCentury Tokyo Leasing Factoring China CorporationCentury Tokyo Leasing (Singapore) Pte. Ltd.Century Tokyo Capital (Malaysia) Sdn. Bhd.Century Tokyo Leasing (USA) Inc.PT. Century Tokyo Leasing IndonesiaPresident Tokyo CorporationTISCO Tokyo Leasing Co., Ltd.

Corporate profile

Fiscal Year 2012From April 1, 2012 to

March 31, 2013

Fiscal Year 2013From April 1, 2013 to

March 31, 2014

Total revenues 691,128 828,558

Leasing 584,636 707,483

Installment sales 81,898 86,768

Financing 16,934 19,938

Others 7,658 14,368

Total costs 620,245 731,229

Gross profit 70,882 97,329

SG&A expenses 28,909 45,912

Operating income 41,973 51,416

Non-operating profits and losses 4,319 3,751

Ordinary income 46,292 55,167

Extraordinary profits and losses (103) (96)

Net income 28,934 33,050

The balance of operating assets for the fiscal year under review increased 16.3% to 2,646.8 billion yen from the end of the previous consolidated fiscal year, mainly due to the consolidation of automobile financing business companies, along with a sharp rise in the transaction volume of new contracts by 19.6% to 1,409.4 billion yen from the previous consolidated fiscal year. Meanwhile, the balance of interest-bearing debts increased 14.0% to 2,211.7 billion yen from the end of the previous consoli-dated fiscal year due to an increase in operating assets. However, the interest expenses fell by 0.68 billion yen from the previous consolidated fiscal year, as we worked on improving the direct funding rate, including issuance of commercial paper.

Cash and cash equivalents79,840

Interest-bearing debts2,211,673Operating assets

2,597,476(Operating assets including business guarantees: 2,646,781)

Other liabilities387,616

Other assets207,457

Net assets285,484

As for profits and losses, we achieved growth in both rev-

enues and profits, mainly due to consolidating Nippon

Rent-A-Car Service, Inc. and Nippon Car Solutions Co.,

Ltd. during the fiscal year. Ordinary income rose by 8.9

billion yen to 55.2 billion yen from the previous consoli-

dated fiscal year and net income was up by 4.1 billion

yen to 33.1 billion yen from the previous consolidated

fiscal year.

(Including business guarantees)

Operating assets

Interest-bearing debts

Ordinary income

Net income

3 4

0

50

200

150

100

300

250

350

64.0

138.1

178.2

Merger（2009.4）

2010.3

145.6

2011.3 2012.3 2013.3 2014.3

266.6

308.0

Note: Equity does not include subscription rights to shares and minority interests.Graph figures for the year ended March 31, 2009 are the simple sums of values recorded by the former Century Leasing System, Inc. and Tokyo Leasing Co., Ltd.

Note: Century Tokyo Leasing Corporation was established as a result of merger between former Century Leasing System, Inc. and Tokyo Leasing Co., Ltd. on April 1, 2009.

Note: Average ROE of the listed leasing companies excluding Century Tokyo Leasing Corporation as of March 31, 2014 is 8.6%Figure for the year ended March 31, 2009 is based on the simple sums of values recorded by the former Century Leasing System, Inc. and Tokyo Leasing Co., Ltd.

Ordinary income

Net income per shareNet income

0

50

200

150

100

250

300

125.2150.4

190.9

2009.3 2010.3

170.0

2011.3 2012.3 2013.3 2014.3

222.3

252.4

0

20

40

60

33.4

44.2 46.3

2010.3 2011.3 2012.3 2013.3 2014.3

46.3

55.2

0

50

150

100

200

250

350

300

239.57221.80

245.82

2010.3 2011.3 2012.3 2013.3 2014.3

272.32

311.64

0

10

30

20

40

25.523.6

26.2

2010.3 2011.3 2012.3 2013.3 2014.3

28.9

33.1

8.9 billion yen up

39.32 yen up4.1 billion yen up33.1 billion yen 311.64 yen

Market Capitalization

308.0 billion yen

30.1 billion yen up Maintaining high standard

Five times bigger than at the point of merger

Equity

252.4 billion yen

0

1,000

500

2,000

1,500

2,500

3,000

1,962.0

1,410.1

200.5

351.4

2,049.8

1,383.7

474.3

191.8

2,143.2

1,375.8

579.5

188.0

1,473.9

601.1

201.6

1,783.9

649.2

213.7

2010.3 2011.3 2012.3 2013.3 2014.3

2,276.6

2,646.8

Note: Graph figures of Financing include business guarantees and other business for the year ended March 31, 2014

370.2 billion yen up

Balance of operating assets

2,646.8 billion yen 55.2 billion yen Leasing Installment Sales Financing(Billions of yen)

(Billions of yen) (yen)

(Billions of yen)

5 6

Financial Highlights

Summary of Financial Results

Balance of operating assets including business guarantees increased by 370.2 billion yen to 2,646.8 billion yen from the end of the previous consolidated fiscal year, mainly due to consolidating automobile financing business companies and in-creased transaction volume in ship and aircraft business and ICT-related equipment leasing.

Operating income, ordinary income, and net income achieved record highs in straight three years, mainly due to consolidating automobile financing business companies.

Market capitalization has increased to the level of approximately five times from the date of the merger, while ROE continues to remain at a high level of around 14%. In addition, the Company has been selected for the “JPX-Nikkei Index 400.”(*)

* A new stock price index composed of “companies with high investment appeal for investors,” which meet global investment standards including ROE, an indicator of capital efficiency of a company.

(Billions of yen)

(%)(Billions of yen)

Forecast of consolidated results for fiscal year ending March 31, 2015

Net income per share 314.74 yen (YoY 3.1 yen up)

Annual dividends 56 yen (YoY 4 yen up)

Dividend payout ratio 17.8 % (YoY 1.1 point up)

Total revenues 860.0 billion yen (YoY 3.8% up)

Operating income 56.3 billion yen (YoY 9.5% up)

Ordinary income 57.0 billion yen (YoY 3.3% up)

Net income 33.3 billion yen (YoY 0.8% up)

0

10

5

15

20

8.0

18.5 14.5

2010.32009.3

14.8

2011.3 2012.3 2013.3 2014.3

14.0 13.9

ROE (Return of net income to equity)

13.9%

7 8

Looking back on 2013 - 2014

Issued the fifth and the sixth unsecured corporate bond

Established Century Tokyo Factoring China Corporation in Shanghai

Century Tokyo Factoring China Corporation started its operation

TISCO Tokyo Leasing Co., Ltd. an equity-method affiliate of TC-Lease issued straight corporate bond in Baht in Thai market (TC-Lease consolidated TISCO Tokyo Leasing Co., Ltd. on May 26, 2014)

Announced establishment of automobile financing company, Tong-Sheng Finance Leasing Co., Ltd. in China

Consolidated Nippon Rent-A-Car Service, Inc.

Established TC Aviation Capital Ireland Limited, a specialty company of aircraft financing in Dublin, Ireland

Merged Tokyo Auto Leasing Co., Ltd. and Nippon Car Solutions Co., Ltd.

NCS offers a variety of car-related solutions for customers ranging from corporations to individuals through its automobile leasing.

NCS mascot “Kurumaru-kun” (Trademark application in process)

Nippon Rent-A-Car Service, Inc.Poster girl : Chinami Suzuki

http://www.ncsol.co.jp/

Kyocera TCL Solar LLC’s eleventh mega solar power generation facility “Yamaguchi Aio-higashi Mega Solar Power Plant No. 2” launches operations (Total volume of electricity generated at the eleven facilities is equivalent to the amount of electricity consumed by approximately 6,700 households*)*Calculated at 3,500 kWh/year per household

Image above is an opening ceremony held in October

First half

Second half

Looking back on 2013-2014

Initiative

Initiative

The current top priority issue of the Abe administration’s second Cabinet is to break out of the prolonged deflation

and economic stagnation by pushing forward “three arrows,” economic policies which are in relationship of mutual

reinforcement (so-called Abenomics), as one.

The “Industrial Competitiveness Enhancement Act” was enforced as part of the “Japan Revitalization Strategy,” also

known as the “third arrow” which takes up the growth strategy of Abenomics. Based on this, as the measures for

“Promotion of investment in cutting-edge facilities using lease methods” conducted by Ministry of Economy, Trade and

Industry, two cases from the TC-Lease Group were selected as the first case of these promotion measures, one from

Century Tokyo Leasing and another from IHI Finance Support, a consolidated subsidiary of TC-Lease.

*1 Scheme making it possible to reduce the cost burden for customers making capital investment, by predicting the market value of the property at the expiration of the lease term and calculating the leasing fee based on the price of the property minus the residual value (estimated future sale price, etc.).

*2 Compensation for loss at the time of sale of the leasing property covers one half of the loss on sale, up to a maximum of 5% of the purchase price of the leasing property.

Production facilities for euglena microalgae (Japanese name: midorimushi)

Founded in 2005, euglena Co., Ltd. was the first company in the world to establish outdoor mass cultivation technology for euglena, and is engaged in development and sale of prod-ucts such as health foods, cosmetics, and biofuel using euglena. Century Tokyo Leasing supports the highly cutting-edge initiatives of euglena Co., Ltd. through measures such as financing related to procurement of facilities by the company.

Euglena as a nutritional supplementEuglena contains 59 types of nutrients including vitamins, minerals, amino acids, and unsaturated fatty acids.

Euglena as a raw material for cosmetics“Rejuna,” an extract of euglena, revitalizes the skin and gives it suppleness.B.C.A.D. website http://www.bcad.jp

Euglena as a raw material for fuelResearch is going forward on developing biofuel from the oils and fats produced by euglena through photosynthesis, in order to use euglena for jet engine fuel of aircrafts in the future.

Manufacturing and development facility for aircraft engines

IHI Corporation (IHI) boasts one of the top shares in production of aircraft engines in Ja-

pan. IHI Finance Support Corporation (IHI Finance Support), our consolidated subsidiary,

conducted an operating lease for aircraft engine manufacturing and development facilities

installed by IHI. Century Tokyo Leasing and IHI Finance Support will continue efforts to

contribute to improving productivity at IHI.

IHI Finance Support66.5% of shares are held by TC-Lease Group and 33.5% by IHI. IHI Finance Support is

mainly engaged in leasing and factoring for the IHI Group.

IHIIHI boasts one of the top shares in production of aircraft engines in Japan.

Initiatives of TC-Lease Group selected for the “third arrow”

A system that actively use operating lease(*1) methods for the purpose of encouraging bold capital investment in “cutting-edge fa-

cilities” such as medical equipment and 3D printers that are necessary for Japanese corporations to win the global competition.

Under this system, after the expiration of a lease term, if the value of the leasing property has been impaired, the government will

compensate for one half of the loss(*2).

What is “Promotion of investment in cutting-edge facilities using lease methods”?

Flexible fiscal policy

Second Arrow

Bold monetary policy

First Arrow Third Arrow

Growth strategy to boost private investment

TC-Lease Group was selected as the for

Abenomics’ “third arrow” leasing measures!

Century Tokyo Leasing euglena

IHI Finance Support I H I

9 10

TC-Times

1. euglena farm green juice2. euglena pure (supplement)3. B.C.A.D. (anti-aging cosmetics)

1

3

2

Located in the south of the Yangtze River, the historical city of Suzhou has prospered as one of the main cities in the Jiangnan area. The capital of the Wu state was located during the Spring and Autumn Period, and Suzhou became a center of culture with a silk textile industry that has flourished for centuries. It has a subtropical monsoon climate and, like Japan, there are four seasons. The summer is extremely hot with high humidity, and winter is very cold but with fine weather and almost no snow. Spring is the recommended season, and since there is little pollen, it would be an excellent time to visit for anyone who suffers from hay fever.

Suzhou has one of China’s foremost economies, home to a range of industries including textiles, fine chemicals, and manufacturing of paper, electronics, and machinery. Its GDP surpassed 1 trillion yuan (equivalent to 15 trillion yen) in 2011, and it joined the “trillion yuan cities” along with Shanghai, Beijing, and Guangzhou. In addition, for its great location, an hour from Shanghai by highway or 30 minutes by high-speed rail, many Japanese companies, mainly in retail businesses, are expanding into this area.

Basic data

China has now become the world’s second largest economy. While

there are some voices pointing out a slowdown of the economy in

China, from a global perspective, China still has ample potential for

growth. As proof of that, the new car sales volume in China has

surpassed the U.S. and now holds first place worldwide. The number

of vehicles owned has also topped 100 million, and further growth is

anticipated. In these circumstances, the TC-Lease Group newly

established Tong-Sheng Finance Leasing Co., Ltd. in Suzhou this

April, and began handling automobile leasing in China, albeit on a

limited basis. Going forward, by mutually collaborating with the

existing Century Tokyo Leasing China Corporation Suzhou Branch,

the TC-Lease Group will leverage the strengths of both companies

and expand the scope of the TC-Lease Group’s business.

Century Tokyo Leasing China Corporation Suzhou Branch was

opened in December 2011 as the third branch of the Shang-

hai-based company, following branches in Guangzhou and Beijing.

At Suzhou Branch, based in the center of Suzhou Industrial

Park which is undergoing rapid industrial development, there are

four permanent staff including three national staffs, and they provide

services related to capital investment such as leasing and lease-

back mainly for Japanese corporate customers.

Tong-Sheng Finance Leasing Co., Ltd. is a wholly owned subsidiary of Taiwan-based President Tokyo Corporation (hereinafter “Presi-dent Tokyo”), an equity-method affiliate of TC-Lease. “President Tokyo,” the parent company, is a joint venture of TC-Lease (49%) and Uni-President Enterprises Corporation Group (51%), a leading Taiwanese food, logistics, and services corporate group. President Tokyo provides financial services, mainly automobile leasing, in Taiwan.

Tong-Sheng will first begin deployment of services in Suzhou, which were cultivated in Taiwan for the Uni-President Enterprises Corporation Group and Taiwanese companies.

A “waterside city” with one of China’s foremost economy

Further growth!? A slowdown!?Looking ahead with China and TC-Lease

Introduction of TC-Lease Group in Suzhou, China

Century Tokyo Leasing China Corporation Suzhou Branch Tong-Sheng Finance Leasing Co., Ltd. (“Tong-Sheng”)

Suzhou, China

TC-Letter from Overseas

Hellofrom TC-Lease around the world

Ni hao

Area 8,488 km2

Population Approximately 6.54 million (as of the end of 2013)

China

China

U.S.

India

Indonesia

Japan

2014

2004 2007

(1 billion U.S. dollars)

Source: IMF World Economic Outlook, April 2013 Edition

Source: OICA (International Organization of Motor Vehicle Manufacturers)

859

1,996

10,028

14,839

21.98 million

3,096

15.88 million

1,252

5.38 million

2019

201320112009

China

Beijing

ShanghaiGuangzhou

Suzhou

Comparison of GDP of major cities (2012)

Nominal GDP Growth Forecast

New car sales volume in Japan, U.S. and China

Location

Source: Suzhou City website

Roughly the size of Hiroshima Prefecture of Japan

Same scale as Chiba Prefecture of Japan

Source: National Bureau of Statistics of China, Suzhou Bureau of Statistics

Shanghai

Beijing

Suzhou Economic scale exceeding New Zealand or Vietnam

2,018 billion yuan

1,788 billion yuan

1,201 billion yuan

1,355 billion yuanGuangzhou

11 12

* A “holding period of two or more years” refers to shareholders who have been on the shareholder register of the Company at the end of March and September each year for five or more consecutive times, with the same shareholder identification numbers.

Shareholders holding accounts with securities companies, etc.

Shareholders not holding accounts with securities companies, etc.(Shareholders holding special accounts)

Mailing address

Securities companies, etc., managing your accounts

2-8-4 Izumi, Suginami-ku, Tokyo 168-8507 JapanMizuho Trust & Banking Co., Ltd.Stock Transfer Agency Department

For inquiries

Telephone: 0120–288–324 (toll free only in Japan)(available every day from 9:00 to 17:00 local time, excluding Saturdays, Sundays and national holidays)

Website address: http://www.mizuho-tb.co.jp/daikou/

Agencies for notices and other inquiries(change in address, change in methods of receiving dividends, etc.)

The head office, nationwide branches or Planet Booths (booths placed within Mizuho Bank, Ltd.) of Mizuho Securities Co., Ltd.

The head office or nationwide branches of Mizuho Trust & Banking Co., Ltd.(Services are not available at Trust Lounges.)

Receiving unpaid dividends

The head office or nationwide branches of Mizuho Trust & Banking Co., Ltd. / The head office or nationwide branches of Mizuho Bank, Ltd.(Only agency service is available at Mizuho Securities Co., Ltd.)

Notes

To request a payment statement, please contact the mailing address, telephone number or agencies for notices and other inquiries stated in the right column, “Shareholders holding special accounts.”

Shares registered with our special accounts cannot be traded, except for the purpose of sale or additional purchasing of less-than-one-unit shares. An account must be opened at a securities company, etc. to conduct a transfer of shares.

13 14

Together with our shareholders

To reward the shareholder’s support, Century Tokyo Leasing Corporation distributes dividends twice a year and

provides shareholder special benefit plan.

Shareholder Information

Our policy on dividends

Guidance on the shareholder special benefit plan

As a general rule, Century Tokyo Leasing Corporation distributes dividends

to its shareholders twice a year (interim and full year-end dividends). As for

our dividend policy, we view the long-term and stable return of profits to

shareholders as its basis, and also intend to improve the dividend payout ratio

upon realizing sustainable income growth. Century Tokyo Leasing Corporation

will strive to enhance its corporate value while endeavoring to strengthen its

capital, and work for further returns of profits to its shareholders.

To express our gratitude toward shareholders for their support, we are offering original “QUO Cards” to shareholders under the shareholder special benefit plan (time of offering: the cards are delivered after the Annu- al General Meeting of Shareholders held in June each year). In addition, the content of shareholder special benefit plan is set to be more appealing to those who intend to hold the shares over the medium- to long-term period.

0

20

10

40

30

50

60

4044

4852

56

2011/3 2012/3 2013/3 2014/3 2015/3 (forecast)

0

2,000

6,000

4,000

8,000

10,000

6,000

4,000

2,000

8,000

6,000

2,000

0 year 2 years* Holding period

(Yen)

(Yen)

100 or more but less than 1,000 shares1,000 or more but less than 3,000 shares3,000 or more shares

Dividends

Shareholder special benefit plan

The longer you hold the Company’s shares, the more benefits you receive!

Attractive benefit contents directly

relating to number of shares held and

period of years held