Daito Trust Construction Co., Ltd. · TSE:1878
Daito Trust Construction — 3Q FY2011 Earnings Presentation
23 slides from Daito Trust Construction's earnings presentation, February 2012
Slide 1: 3Q Financial Highlights, Year ending March 31, 2012
3Q Financial Highlights, Year ending March 31, 2012 Contents Ⅰ 3Q Financial Results ・・・・・・・・・・・・・・・・・・・ 3 Ⅱ．Orders received ・・・・・・・・・・・・・・・・・・・・・ 11 Ⅲ．Occupancy rate ・・・・・・・・・・・・・・・・・・・・・ 19 Ⅳ. Topics ・・・・・・・・・・・・・・・・・・・・・・・・・ 25 Ⅴ. Appendix ・・・・・・・・・・・・・・・・・・・・・・・・ 27
Slide 2: 3Q Financial Results: Income summary
Ⅰ. 3Q Financial Results Ⅰ-1 Income summary Sales and income exceeded planned Net sales Operating income （\billions） （\billions） 1,000 ¥769.7bln ¥54.1bln 60 （+21.5% y/y） 800 678.1 709.1（+8.5% y/y） 44.5 600 40 37.2 400 Planned 20 Planned 200 ¥747.8bln ¥42.5bln 0 0 09/12 10/12 11/12 09/12 10/12 11/12 O
Slide 3: Income summary by segment (Construction, Real estate)
Ⅰ-2 Income summary by segment （Construction） （¥billions） 3Q FY10 3Q FY11 （y / y） Net sales 285.5 311.8 （+9.2%） Gross profit 108.1 116.3 （+7.6%） Gross profit margin 37.9% 37.3 % ［- 0.6ｐ］ [ ]：Difference from same period in previous year （\billions） （\billions） 302.0 ¥311.8bln ¥116.3bln 285.5 120 103.8
Slide 4: Income summary by segment (Others); SG&A expenses
Ⅰ-4 Income summary by segment （Others） （¥billions） 3Q FY10 3Q FY11 （y / y） Net sales 18.4 20.2 （+10.1%） Gross profit 6.4 6.7 （+4.6%） Gross profit margin 34.9% 33.1% ［- 1.8ｐ］ [ ]：Difference from same period in previous year （\billions） （\billions） ¥20.2bln ¥6.7bln 20 18.4 6.4 16.9 5.5 6 15 34.9% 4 10
Slide 5: Financial forecasts
Ⅰ-6 Financial forecasts No change in financial forecasts Net sales Operating income （\billions） ¥1,075.9bln （\billions） 1,200 （+7.5% y/y） 100 ¥80.0bln 972.6 1,001.1 1,000 80 71.1 73.7 （+8.4% y/y） 800 60 600 40 400 200 20 0 0 10/3 11/3 12/3（Plan） 10/3 11/3 12/3（Plan） Ordinary income Net income （\bill
Slide 6: Orders received
Ⅱ. Orders received Ⅱ-1 Orders received ◇Orders received ¥444.2bln（122.0% y/y） Per period Per quarter （\billions） （\billions） ¥444.2bln 200 400 364.2 152.2 150.7 312.9 141.2 150 300 125.8 129.6 117.6 108.7 101.0 94.2 100 200 100 50 0 0 1Q 2Q 3Q 1Q 2Q 3Q 1Q 2Q 3Q 10/3 11/3 12/3 12
Slide 7: Orders received backlog; sales representatives and efficiency
Ⅱ-2 Orders received backlog ◇Orders received backlog ¥595.9bln（120.1% y/y） （\billions） 700 \595.9bln 600 479.6 496.0 500 400 300 200 100 0 09/12 10/12 11/12 13 Ⅱ-3 Sales representatives and sales efficiency ◇Sales representatives 3,089（+168 y/y） ◇Orders received per rep 16.33mil / mo（+1.27mil） Sales
Slide 8: Comparing with the result of FY2010
Ⅱ-4 Comparing with the result of FY2010 Comparison with Apr.-Dec. Comparison with 3Q ¥80.0bln Increase ¥21.1bln Increase ① By Numbers + ¥64.1bln ① By Numbers + ¥17.5bln （5,621 → 6,492） （1,935 → 2,173） ② By Cancellation + 0.1bln ② By Cancellation - ¥0.4bln （- ¥72.5bln → -¥72.4bln） （ - ¥23.1bln → - ¥2
Slide 9: Medium-rise rate and rebuilding rate; plan for orders received
Ⅱ-6 Medium-rise rate and rebuilding rate ◇Medium-rise rate 14.1%（+2.2p y/y） ◇Rebuilding rate 29.5%（+2.9p y/y） Medium-rise rate※1 Rebuilding rate※2 40% 40% 29.7%29.5% 30% 30% 28.3% 26.6% 25.6% 21.2% 21.0% Total rebuilding rate 20% 20% 14.6% 14.5% 14.8%14.1% The rate of buildings originally 12.5% 11.9
Slide 10: Occupancy rate: Tenancy agreement
Ⅲ. Occupancy rate Ⅲ-1 Tenancy agreement ◇Tennancy agreement 142,331（+106.0% y/y） Residential use Commercial use Number y/y Number y/y 150,000 138,897 200% 4,000 200% 130,872 3,383 3,434 111,787 3,055 3,000 100,000 150% 150% 117.1% 2,000 106.1% 109.4% 110.7% 103.7% 101.5% 50,000 100% 100% 1,000 0 50%
Slide 11: Rent basis occupancy rate
Ⅲ-2 Rent basis occupancy rate Residential use 96.0%（+1.2p y/y） 8,100 units Improvement 673,500 units×1.2%≒8,100 Commercial use 93.8%（+2.2p y/y） 840 units Improvement 38,300 units×2.2%≒840 Residential Use Commercial use 100% 100% 94.8% 96.0% 93.6% 93.8% 91.4% 91.6% 90% 90% 80% 80% 70% 70% 09/Dec. 10/
Slide 12: Plan for tenancy agreement and occupancy rate
Ⅲ-4 Plan for tenancy agreement ◇Plan for tenancy agreement 222,500（+108.9% y/y） Plan for required tenancy agreement ⇒ 80,169 Residential use：78,103 Commercial use：2,066 Residential use Commercial use 250,000 217,000 6,000 5,500 199,715 5,000 4,664 200,000 176,009 4,305 2,066 78,103 1,281 68,843 4,00
Slide 13: Topics: Expanding sales net with new branches
Ⅳ. Topics Ⅳ Expanding sales net with opening new branches 5 new branches open 214 branches on Feb. 2012 In total Nagoya-Tenpaku (Aichi) Kurume-Minami (Fukuoka) Taito (Tokyo) Nakano (Tokyo) Shizuoka-Nishi (Shizuoka) 26
Slide 14: Appendix: Non-consolidated statement of income
Ⅴ. Appendix Ⅴ-1 Non-consolidated statement of income （¥ millions） 3Q FY11 3Q FY10 y/y plan (year) Net sales 328,857 308,447 +6.6% 481,950 Construction 313,871 289,909 +8.3% 461,600 Real estate & others 14,985 18,538 - 19.2% 20,350 Gross profit 112,982 105,586 +7.0% 166,900 Construction 115,608 108,9
Slide 15: Financial summaries of major subsidiaries
Ⅴ-2 Financial summaries of major subsidiaries （Construction） （ ¥ millions ） Construction business Daito Construction Daito Steel plan plan 3Q FY11 3Q FY10 y/y (year) 3Q FY11 3Q FY10 y/y (year) Net sales 2,864 3,297 - 13.1% 5,000 2,702 2,214 +22.0% 3,188 Gross profit 125 199 - 37.2% 304 133 96 +38.5%
Slide 16: Sales structure of real estate business; subsidiaries (Others)
Ⅴ-4 Sales Structure of Real estate business （ ¥ millions ） 3QFY11 （Ratio） 3QFY10 y/y Whole-building lease ※1 396,087 (90.5%) 361,926 +9.4% Building and repairs ※2 22,742 (5.2%) 21,046 +8.1% Brokerage 8,866 (2.0%) 7,855 +12.9% Lease business ※3 4,509 (1.0%) 4,510 - 0.0% Sub-lease ※4 3,347 (0.8%) 8,00
Slide 17: Financial summaries of subsidiaries; financial conditions
Ⅴ-6 Financial summaries of major subsidiaries （Others - 2） （ ¥ millions ） Other business (Other) Care Partner Gaspal D. A. D. (M) plan plan plan 3QFY11 3QFY10 y/y (year) 3QFY11 3QFY10 y/y (year) 3QFY11 3QFY10 y/y (year) Net sales 5,051 4,641 +8.8% 6,527 12,697 10,842 +17.1% 18,366 1,373 1,496 - 8.2%
Slide 18: Cash flows; number of employees
Ⅴ-8 Cash flows Net income before taxes Cash flow provided by Payment for income taxes Operating activities 9.9 Cash flow used in Acquisition of securities Investing activities -7.5 Payment for dividend Cash flow used in Financing activities -26.4 Cash and cash equivalents at the end of 3Q FY2011 159
Slide 19: Orders received by area; channels of orders received
Ⅴ-10 Orders received by area （\billions） 160 155.8 80% 140 Daito’s Avg. 60% +22.0% 120 +35.0% +33.1% （+29.21%） +31.4% 40% +27.0% 100 +19.7% +17.4% +13.2% +9.9% +10.7% 20% 80 0% 60 (117.8) 66.1 56.5 -20% 40 44.7 34.6 34.8 -40% 20 28.3 10.6 14.7 0 ) -60% g ion ai u o o ku i u u hu re nk k nt aid ts ok
Slide 20: Orders received by repeat; construction started and Daito's share
Ⅴ-12 Orders received by repeat （\billions） \233.5bln 200 189.7 162.9 49.2% 50.6% 100 46.3% 0 09/12 10/12 11/12 Orders received by repeat Composition ratio Number of orders received by repeat from our existing customers ※ Composition ratio ＝ Total number of orders received 39 Ⅴ-13 Number of construct
Slide 21: Apartment construction started by area; rent basis occupancy rate
Ⅴ-14 Number of apartment construction started by area & Daito’s share No. of construction started Daito's share 12,470 12,000 60% 10,000 39.7% 37.9% 34.8% 40% 8,000 30.1% 18.0% 27.2% 13.7% 17.1% Daito’s Avg. 6,000 (10.8%) 6,742 19.3% 20% 9.8% (8,738) 5,171 5,335 4,000 3,563 3,815 0% 2,000 2,280 1,26
Slide 22: Units under management and rent; customers' financing channel
Ⅴ-16 Number of units under management & aggregate amount of rent Residential use Commercial use Managing units Rent Managing units Rent (thousands) (¥billions) (thousands) (¥billions) 700 680 50 500 10 645 598 600 39.4 36.4 40 400 8 500 33.6 6.7 6.5 6.5 30 300 6 400 300 20 200 4 200 10 100 2 100 39.
Slide 23: Disclaimer and contact information
１．Disclaimer of warranties for the contents Daito Trust Construction Co., Ltd. (Daito) pays careful attention to the information disclosed in its website. However, Daito is not held responsible for the accuracy, reliability, and / or safety of the contents. Any prognostic information disclosed in th
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