Notice Regarding Receivables in Russia and Ukraine Held by Mitsubishi HC Capital Group
Mar 17, 2022
Mitsubishi HC Capital Inc. (Representative Director, President & CEO: Takahiro Yanai, "Mitsubishi HC Capital") hereby announces the current situation regarding receivables in Russia and Ukraine that are held by Mitsubishi HC Capital Group as follows.
Please be advised that Mitsubishi HC Capital Group does not have offices in either Russia or Ukraine, nor are there any employees resident or stationed in either country.
■Situation Regarding Receivables Held by Mitsubishi HC Capital Group
・The balance of outstanding receivables held by Mitsubishi HC Capital Group in Russia is approximately JPY 500 million,
most of which is covered by trade insurance.
There are no outstanding receivables in Ukraine.
・The aircraft leasing business of Mitsubishi HC Capital Group currently has no receivables in Russia or Ukraine.
Neither the aircraft engine leasing business has any receivables in Russia or Ukraine.
However, we have confirmed that four engines leasing to companies outside these countries are currently located within Russia.
In light of the above, the impact of the current situation on our financial performance forecasts for the fiscal year ending March 2022 is expected to be minimal, therefore we have no plans to make changes at this moment. In the future, we will promptly provide notification should there be a significant impact on Mitsubishi HC Capital's business performance due to a prolonging of the situation affecting the global economy.
Mitsubishi HC Capital is deeply concerned by the situation in Ukraine and hopes it will be resolved quickly and peacefully.