Slide 1: FY03/21 Financial Results Briefing
FY03/21 Financial Results Briefing May 19, 2021
Slide 2: Overview of FY03/21 Financial Results
Overview of FY03/21 Financial Results FY03/21 Financial Results Briefing This briefing material includes our earnings forecasts and projections. Please note that these reflect forecasts and estimates based on information available to the Company as of the date of release of this document, and contai
Slide 3: Overview
Overview While government construction outlays were strong, private-sector enterprises further downsized and changed business plans, affected by COVID-19 infections, causing private sector construction capex to Business decline year-on-year environment On the construction cost front, materials &
Slide 4: FY03/21 Full-Year Results (Consolidated)
FY03/21 Full-Year Results (Consolidated) Posted lower profitability because net sales declined as major projects played out and new construction works were delayed Meanwhile, orders were strong and grew significantly toward a potential business performance recovery in the future (Millions of yen) Di
Slide 5: Factors Affecting Net Income (Consolidated)
Factors Affecting Net Income (Consolidated) Profit attributable to owners of parent decreased significantly due to declines in completed construction gross profit and in real estate gross profit Decline Decline in in tax completed expenses construction (Millions of yen) 4,809 gross profit 16,541 Dec
Slide 6: FY03/21 Full-Year Results (Non-Consolidated)
FY03/21 Full-Year Results (Non-Consolidated) In civil engineering and building construction, both completed construction sales and completed construction gross profit decreased significantly Real estate saw profit come under pressure due to deteriorating revenue from major development projects under
Slide 7: Completed construction sales・gross profit (Civil engineering)
Completed construction sales・Completed construction gross profit（ Non-Consolidated ／ Civil engineering ） Completed construction sales: Declined due to a fall-off in major government work recorded a year ago and due to lower revenue from the Tokyu Group amid the COVID-19 pandemic Completed constructi
Slide 8: Orders (Non-Consolidated / Civil engineering)
Orders（ Non-Consolidated ／ Civil engineering ） Secured orders were flat year on year thanks to growing orders for domestic public projects although orders from the Tokyu Group halved, affected by the COVID-19 pandemic Overseas, an order for a major ODA project was not granted due to the political tu
Slide 9: Completed construction sales・gross profit (Building construction)
Completed construction sales・Completed construction gross profit（ Non-Consolidated ／ Building construction） Completed construction sales: Declined as major projects played out and new projects were delayed due to the COVID-19 pandemic Gross profit: Declined as profit from a major government work a y
Slide 10: Orders (Non-Consolidated / Building construction)
Orders（ Non-Consolidated ／ Building construction） Received orders for multiple major logistics warehouses as well as redevelopment along Tokyu railway lines and environmentally-friendly construction (net zero energy building, ZEB, etc.) Orders increased significantly, helped by a base effect, and du
Slide 11: Selling, general & administrative expenses (Consolidated)
Selling, general & administrative expenses （Consolidated） Selling, general & administrative expenses decreased due to expense-saving efforts amid the COVID-19 pandemic SG&A SG&A expenses (Millions of yen) expenses /Net sales 15,858 14,086 14,620 6.3% 4.9% 4.3% FY03/19 FY03/20 FY03/21 Copyright(C) To
Slide 12: Balance Sheet (Consolidated)
Balance Sheet（Consolidated） Equity ratio was at 45.4％, a gain of 2.5 percentage points compared to March 31, 2020 (Millions of yen) Liabilities and Assets equity 235,897 235,897 226,568 226,568 Short-term loans payable-19,909 Cash and deposits Income taxes ＋4,624 payable-4,292 127,578 Current 95,046
Slide 13: Interest-bearing debt, Equity, D/E ratio (Consolidated)
Interest-bearing debt, Equity, D/E ratio（Consolidated） D/E ratio was at 0.26 times, almost flat year on year Interest-bearing debt (Millions of yen) Equity 102,963 101,215 92,633 26,557 26,754 1,638 As of March 31, As of March 31, As of March 31, 2019 2020 2021 0.02 0.26 0.26 D/E ratio times times t
Slide 14: Cash flow statement (Consolidated)
Cash flow statement（Consolidated） Free cashflow improved to 7.8 billion yen as cash flows from operating activities increased due to reduced accounts receivable – trade, which was at a high level on March 31, 2020 (Millions of yen) Year ended Year ended Items March 31, March 31, FY03/2021 remarks 20
Slide 15: Long-Term Management Plan VISION2030
VISION2030 Long-Term Management Plan "To zero, from zero." FY03/21 Financial Results Briefing
Slide 16: VISION2030 Long Term Management Plan "To zero, from zero."
Please see the VISION2030 Long Term Management Plan “To zero, from zero.” released on May 12, 2021 https://www.tokyu-cnst.co.jp/en/company/strategy/pdf/strategy.pdf
Slide 17: Full-year Forecast for FY03/22
Full-year Forecast for FY03/22 FY03/21 Financial Results Briefing
Slide 18: P/L Forecast (Consolidated)
P/L Forecast（Consolidated） Net sales are forecast to increase due to order acquisition during the previous fiscal year Gross profit will likely improve by 0.5 percentage points and operating income is forecast at 7.0 billion yen (Millions of yen) Difference FY03/22 compared to Rate of Items FY03/21
Slide 19: P/L Forecast (Non-Consolidated)
P/L Forecast (Non-Consolidated) Net sales are forecast to increase due to higher completed construction sales in building construction Operating income is forecast at 5.7 billion yen due to higher completed construction sales and recovering real estate gross profit (Millions of yen) FY03/22 Differen
Slide 20: Order Forecast (Non-Consolidated)
Order Forecast（Non-Consolidated） Civil engineering: Orders from domestic public and domestic private are forecast to decline despite rising orders from the Tokyu Group Building construction: Orders from domestic private are forecast to decline in a fall-off from a sharp increase a year ago despite r
Slide 21: P/L・Order Forecast (Civil engineering)
P/L・Order Forecast（Non-Consolidated／Civil engineering ） Completed construction gross profit is forecast to improve as the revenue deterioration experienced in the previous fiscal year is expected to dissipate (Millions of yen) Completed construction sales Orders ・Gross Profit 63,713 9.9% Profit Marg
Slide 22: P/L・Order Forecast (Building construction)
P/L・Order Forecast（Non-Consolidated／Building construction） Completed construction sales are forecast to increase significantly owing to increased orders for the previous fiscal year Meanwhile, completed construction gross profit margin ratio is forecast to decline due to intensifying competition and
Slide 23: Net Sales・Gross Profit Forecast (Construction Renewal)
Net Sales・Gross Profit Forecast（Construction Renewal） Both sales and orders for the construction renewal business are forecast to recover in comparison to the previous fiscal year, but the recovery will likely be limited as we need to assume continued effects from the COVID-19 pandemic (Millions of
Slide 24: Net Sales・Gross Profit Forecast (International・Real estate)
Net Sales・Gross Profit Forecast（International・Real estate） Overseas: Improvement will likely be limited as the Myanmar situation is becoming uncertain Real estate: Profitability is forecast to improve due to the disappearance of the effects from the development revenue deterioration experienced in t
Slide 25: Dividend Forecast
Dividend Forecast We aim to achieve a dividend on equity ratio (DOE) of 4.0% or more, and will pay dividends steadily and consistently in a manner not easily affected by short-term profit volatility Dividend per share(yen) DOE 40 5.4% 31 4.6% 30 30 26 4.6% 25 4.0% 3.7% 3.3% 10 1.0% FY03/16 FY03/17 F
Slide 26: Inquiries
[Inquiries] Nishida/Morita Corporate Planning Department, Corporate Strategy Division TEL: +81-3-5466-5008 URL: webmaster@tokyu-cnst.co.jp