Takamiya Co., Ltd. · TSE:2445
Takamiya — SRG TAKAMIYA — Q1 FY2019 Earnings Presentation
43 slides from Takamiya's earnings presentation, Aug 28, 2018
Slide 1: Results Briefing Materials for the First Quarter of the Fiscal Year Ending March 31, 2019
Results Briefing Materials for the First Quarter of the Fiscal Year Ending March 31, 2019 August 28, 2018 Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the ori
Slide 2: Topics: Notice of changes in trade name and logo
1. Topics Notice of changes in trade name and logo The Company has set out its vision as "Create new value through transformation and aim to become a corporate group that drives qualitative development of the industry", and decided to change its trade name to "TAKAMIYA Co., Ltd. " effective from Apr
Slide 3: Consolidated Financial Results (Cumulative Period)
2. Consolidated Financial Results (Cumulative Period) 1Q FY Ending March 31, 2019 1Q FY Ending March 31, 2019 1Q FY Ended March 31, 2018 Consolidated Results Forecast（Non-disclosure） Results Results % change （Unit:million yen） (YoY) Sales ratio Sales ratio Sales ratio Net sales － － 9,725 － 8,761 － +
Slide 4: Comparison with the previous year: Net sales
3. Comparison with the previous year 3.1 Net sales （Unit:million yen） 10,000 +1,058 9,725 Inter-segment transactions decreased 9,500 Although it decreased due to decrease in inter-segment transactions of sales- 9,000 related business, revenues eventually 8,761 (1,010) +868 increased by 944 million y
Slide 5: Comparison with the previous year: Operating income
3. Comparison with the previous year 3.2 Operating income （Unit:million yen） 300 Overseas depreciation of 259 (121) +65 255 assets for rent increased 250 While inter-segment transactions of +77 (26) sales-related business decreased, 200 depreciation of assets for rent increased in the overseas busin
Slide 6: Change in Consolidated Balance Sheet
4. Change in Consolidated Balance Sheet Investments and other assets Intangible assets Property, plant and equipment 【Assets】 Current assets Net assets Non-current liabilities Current assets 50,091 52,760 53,306 43,520 Increase in Cash & Deposit:486 million yen Decrease in notes and accounts receiva
Slide 7: Sales Ratio by Segment
5. Sales Ratio by Segment Increased sales in the overseas business segment is mainly due to proactive investment in equipment and increased revenues of the subsidiary in Korea. Overseas Overseas Overseas Business Business Business Sales 14.7% 11.0% Sales 19.6% Business Business Sales 31.4% 28.4% Bus
Slide 8: Sales business: Per Quarter
6. Sales business 6.1 Per Quarter Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ended March 31, 2019 (Unit : million yen) Segment sales Segment profit Segment profit ratio 4,611 4,185 4,040 3,887 3,652 3,631 15.8% 17.3% 2,877 10.6% 12.9% 11.9% 11.2% 2,522 2,409 11.9%
Slide 9: Sales business: Comparison with the previous year
6. Sales business 6.2 Comparison with the previous year Net sales Segment profit Net sales Decreased by 1,010 million yen. (1,058) Inter-segment transactions (121) (internal sales) decreased because ＋48 of merging Hory Corp., a former subsidiary. Segment profit 3,887 462 Decreased by 121 million yen
Slide 10: Sales business: Net Sales by Field
6. Sales business 6.3 Net Sales by Field 1,735 8,517 1,383 498 4Q 1,715 291 3Q 2,647 423 2Q 1,979 355 1Q 2,772 1,979 523 355 FY Ended March 31, FY Ending March 31, FY Ended March 31, FY Ending March 31, 2018 2019 2018 2019 Construction-related Environment-related 928 1,265 187 339 271 246 259 301 34
Slide 11: Recent prevalence of the Iq System
6. Sales business 6.4 Recent prevalence of the Iq System Sales performance of the Iq system （Unit:million yen） 2,529 1,939 1,344 Iq System :4,550,000㎡ 769 569 （2,740,000㎡ [assets for rent in possession]+1,780,000㎡ [cumulative sold amount]) Estimated by the Company as (total length* FY Ended March FY
Slide 12: Rental Business: Per Quarter
7.Rental Business 7.1 Per Quarter Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ended March 31, 2019 (Unit:million yen) Segment sales Segment profit Segment profit ratio 6,173 5,610 5,011 5,538 5,490 5,230 5,228 5,312 5,279 12.3% 13.3% 11.7% 7.5% 7.1% 7.9% 8.5% 3.6% 5
Slide 13: Rental Business: Comparison with the previous year
7.Rental Business 7.2 Comparison with the previous year Net sales Segment profit Net sales Increased by 49 million yen. However, excluding net sales of +77 (28) +95 "NAKAYA KIZAI Co., Ltd." which was acquired during the previous term turns it to decrease in (13) revenues by 28 million yen. 5,230 5,2
Slide 14: Trend of average equipment utilization rates
7.Rental Business 7.3 Trend of average equipment utilization rates Almost same level as the peak in the 53.3% previous term 50.7% It registered 48.2%, almost same level as the 48.3% 48.2% 47.9% peak achieved in the 3Q of FY03/2018. Assuming same trend as usual, it is expected 46.5% 44.3% 42.5% 45.7%
Slide 15: Ratio of Sales by Area
7.Rental Business 7.4 Ratio of Sales by Area Proportion of Kanto block decreased due to merging consolidated subsidiaries. FY Ended March 31, 2017 FY Ended March 31, 2018 1Q FY Ended March 31, 2019 3.6% 3.6% 4.1% 12.5% 12.5% 12.5% Tohoku 26.8% Kanto 32.9% 29.2% Chubu Kansai 40.4% 38.9% Kyusyu 44.4%
Slide 16: Trend of depreciation
7.Rental Business 7.5 Trend of depreciation （Unit:million yen） 4,663 4,503 It will peak during the current term. Depreciation of asset for rent (8 years straight- line) that predominantly accounts for the overall 3,479 3,312 depreciation has been in an upward trend due to introduction of the "Iq Sys
Slide 17: Trend of average utilization rates of the Iq System
7.Rental Business 7.6 Trend of average utilization rates of the Iq System Steadily high level of utilization Higher level of utilization again exceeding 60% 68.0% 67.4% could be maintained during the current 1Q, as compared to any other equipment. 64.0% 62.2% 60.3% 59.0% 59.2% 54.8% 54.6% 1Q FY Ende
Slide 18: Notice of price revision
7.Rental Business 7.7.1 Notice of price revision Overview of price revision Price revision date From those ordered on Sep. 1, 2018 Price revised product Next-generation scaffolding ”Iq System” Gapless stainless-steel footplate “Safety Walk” Light & long baseboard “AL-SPEEDER” Price revision width Cu
Slide 19: Notice of price revision: application
7.Rental Business 7.7.2 Notice of price revision Price revision Even after price revision, billing will be made based on the unit price applied at the time Orders received Rental starts End of receiving the order, until expiry of rental period. Even if price revision takes place during rental period
Slide 20: Overseas business: Per Quarter
8. Overseas business 8.1 Per Quarter Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ended March 31, 2019 （Unit:million yen） Segment sales Segment profit Segment profit ratio 1,913 1,991 1,263 1,389 1,405 1,006 930 997 1,123 5.6% 3.7% (2.5)% (0.4)% 0.4% (1.5)% (3.2)% (4
Slide 21: Overseas business: Comparison with the previous year
8. Overseas business 8.2 Comparison with the previous year Net sales Segment profit Net sales Increased by 849 million yen. Solar-related business at Hory +793 +56 ▲4 ▲18 Korea has recovered. Segment profit Increased by 849 million yen. Despite increase in revenues, ▲30 1,972 proactive investment in
Slide 22: FY Ending March 31, 2019 Consolidated performance forecast
9. FY Ending March 31, 2019 Consolidated performance forecast（Cumulative period） FY Ending March 31, 2019 （Reference） FY Ended March 31, 2018 % change % change 2Q 4Q Results （Unit:million yen） (YoY) (YoY) Net sales 19,500 +9.1% 41,000 +13.5％ 36,114 Operating income 900 +11.9% 2,500 +47.8% 1,690 Ordi
Slide 23: Status of shareholder return
10. Status of shareholder return FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ending March 31, 2019 2016 2017 2018 (Forecast) Dividend 10 yen 10 yen 11 yen 11 yen 1Q － － － － 2Q 3.5 yen 3.5 yen 4.0 yen 4.0 yen 3Q － － － － 4Q 6.5 yen 6.5 yen 7.0 yen 7.0 yen Total amount of dividends 442
Slide 24: Reference materials
Reference materials August 28, 2018 SRG TAKAMIYA Co., Ltd. Grand Front Osaka, Tower B, 27F, 3-1 Ofuka-cho, Kita-ku, Osaka 530-0011, Japan
Slide 25: Company Overview of SRG TAKAMIYA CO., LTD.
1. Company Overview of SRG TAKAMIYA CO., LTD. Trade name SRG TAKAMIYA CO., LTD. Incorporation June 21, 1969 Representative President and representative director, Kazumasa Takamiya Capital 731,097,900 yen Number of employees Consolidated : 1,185; Non-consolidated : 662(As of end-June, 2018) Registere
Slide 26: History
2. History • 1969 Jun. Founded as Shin Kansai Co., Ltd., currently SRG TAKAMIYA CO., LTD., in Osaka City. • 1998 Apr. Established Techno Kobo Ltd. (currently Cadian Co., Ltd., a consolidated subsidiary) in Osaka City. • 2004 Oct. Established HIRAMATSU Co., Ltd. (currently a consolidated subsidiary)
Slide 27: Business Diagram
3. Business Diagram Overseas business Sale・Rental・Construction Purchase Hory Korea Co., Ltd HORY VIETNAM Co., Ltd. temporary equipment manufacturers, trade firms, etc.) housing manufacturers, agricultural corporations, etc.) Sale Sale・ Rental・Construction DIMENSION-ALL INC. Suppliers (raw materials
Slide 28: Sales business handled equipment
4.販売関連事業 取扱機材 Construction-related Construction-related Construction-related Construction-related Joint(clamp) Next generation scaffolding Hanging type scaffolding Safety member General-purpose equipment used in （Iq system) (Spider Panel) Preceding handrails, any work sites New scaffolding with high
Slide 29: Rental business
5. Rental business Architecture Bridge Underground work Plant High-rise buildings, high-rise Expressways, railroads, elevated Shield tunneling construction such Construction and maintenance of condominiums, warehouses, highways, bridges, etc. as subways, pipe lines, and utility treatment plants, inc
Slide 30: Overseas bases and business activities
6. Overseas bases and business activities Hory Korea Co.,Ltd HORY VIETNAM Co.,Ltd DIMENSION-ALL INC. ※The Philippines Carrying out manufacture/sales/rental of Carrying out manufacture of clamps for Carrying out sales/rental of formwork temporary equipment for construction Japanese markets; manufactu
Slide 31: Change in Domestic Construction Investment
7. Change in Domestic Construction Investment 2017 Up 4.6％ *Source: Research Institute of Construction and Economy, "Quarterly Outlook of Construction and Macro Economy", June 2018 2018 Up 2.1％(Forecast) 56,020 57,170 53,570 51,297 51,140 50,981 43,291 45,291 16,990 17,770 42,963 41,927 12,948 15,51
Slide 32: Changes in invested amount for domestic building reform/renewal
8. Changes in invested amount for domestic building reform/renewal *Source: Ministry of Land, Infrastructure Transport and Tourism, "Estimate of Construction Investment, FY2018", June 2018 Up 4.1％ YoY 127,000 13,100 12,580 11,780 11,020 9,930 3,840 3,930 4,150 9,030 4,050 8,350 8,480 7,760 4,780 3,8
Slide 33: Change in Domestic Construction Investment
9. Change in Domestic Construction Investment Government investment Private investment Renovation and renewal investment （ Unit:billion yen ） 40,000 34,110 35,000 32,980 31,190 28,737 29,707 30,000 28,279 25,000 22,560 22,861 22,380 23,040 23,060 21,275 20,000 15,000 12,700 12,580 13,100 11,020 11,7
Slide 34: Utilization rate and net sales of 50 scaffolding leasing companies
10. Change in utilization rate of construction materials and equipment and in net sales of 50 companies in the scaffolding and construction materials leasing business （Unit:%） （Unit:million yen） 80.0 Net sales Framework Scaffolding Falsework Members 25,000 70.0 20,000 60.0 50.0 15,000 40.0 10,000 30
Slide 35: Change in Financial Results
11. Change in Financial Results Net sales Operating income 9,783 9,190 8,828 8,783 737 4Q 995 9,460 9,049 3Q 9,072 8,764 667 806 2Q 861 299 1Q 9,377 9,114 796 8,436 9,010 586 1,121 872 693 8,761 9,725 545 7,925 7,791 8,142 434 253 272 259 255 FY Ended March FY Ended March FY Ended March FY Ended Mar
Slide 36: Change in Overseas Market
12. Change in Overseas Market (Billion dollars) Country (Million people) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Nominal GDP 6,203 5,155 4,850 4,394 4,949 4,872 5,167 5,362 5,498 5,641 Japan Population 127 127 127 126 126 126 126 126 125 125 Nominal GDP 1,222 1,305 1,411 1,382 1,411 1,498
Slide 37: Change in consolidated results
13.連結業績の推移 FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended FY Ended March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, (Unit:million yen) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net sa
Slide 38: Change in Consolidated Balance Sheet
14. Change in Consolidated Balance Sheet FY Ended FY Ended FY Ended FY Ended FY Ended March FY Ended March FY Ended March FY Ended March FY Ended March FY Ended March FY Ended March March 31, March 31, March 31, March 31, 31, 2008 31, 2009 31, 2010 31, 2011 31, 2012 31, 2013 31, 2018 (Unit:million y
Slide 39: Quarterly Change in Results by Segment (Per Quarter)
15. Quarterly Change in Results by Segment (Per Quarter) （Unit:million yen） 2018年3月期 2019年3月期 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales Segment sales 3,887 3,631 2,522 2,409 2,877 － － － business (Of which) Inter-segment sales 2,804 2,902 2,531 2,428 2,853 － － － Segment profit 462 404 247 77 341 － － － Segment ma
Slide 40: Quarterly Change in Results by Segment (Cumulative Period)
16. Quarterly Change in Results by Segment (Cumulative Period) （Unit:million yen） 2018年3月期 2019年3月期 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales Segment sales 3,887 7,518 10,040 12,449 2,877 － － － business (Of which) Inter-segment sales 2,804 5,707 8,239 10,667 2,853 － － － Segment profit 462 867 1,114 1,192 341 －
Slide 41: Stock Price of SRG TAKAMIYA (2445:Tokyo)
0 100,000 200,000 300,000 400,000 500,000 600,000 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Average daily trading volume Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 17. Stock Price of SRG TA
Slide 42: IR Contact
18. IR Contact 社名 : SRG TAKAMIYA Co., Ltd. Grand Front Osaka, Tower B, 27F, 3-1 住所 : Oofuka-cho, Kita-ku, Osaka, 530-0011, Japan URL : https://www.srg.jp/en/ (For Investor) : https://www.srg.jp/en/ir/ Japan Phone : +81-(0)6-6375-3918 FAX : +81-(0)6-6375-8827 CONTACT : Takashi Kawabata, PR / IR Secti
Slide 43: SRG Takamiya
G SRG Takamiya SUPER RENTAL GROUP