Meiwa Estate Co. Ltd. · TSE:8869
Meiwa Estate — FY03/24 Earnings Presentation
95 slides from Meiwa Estate's earnings presentation, May 13, 2024
Slide 1: Financial Results for FY03/24
MEIWA ESTATE Co., Ltd. (8869) Financial Results for FY03/24 May 13, 2024
Slide 2: Table of Contents
Table of Contents Summary Consolidated Financial Statements FY03/24 Results of the Residential Development Business Results of the Real Estate Agency Business Results of the Condominium Management Business Summary of the Strategy 2027 Progress of the Strategy 2027 Consolidated Financ
Slide 3: Summary
Summary In Full-year FY03/24,net sales increased and profits decreased YoY Gross profit margin of condominiums decreased YoY, and segment profit in the Residential Development Business decreased Exceeded the revised full-year forecast announced in February 2024 We plan to pay dividends of ¥4
Slide 4: Consolidated Financial Statements FY03/24
Consolidated Financial Statements FY03/24
Slide 5: Consolidated Financial Statements FY03/24
Consolidated Financial Statements FY03/24 Consolidated Financial Statements FY03/24 Net sales increased and profits decreased. Net sales: ¥71.2 billion (up 14.3% YoY), Operating profit: ¥4.9 billion (down 16.3% YoY), ordinary profit: ¥3.9 billion (down 20.0% YoY ), Profit attributable to owners
Slide 6: Change in Reporting Segments
Change in Reporting Segments As announced in May 2023, we change reporting segments to suit our current management structure Former reporting segments New reporting segments New Condominiums New Condominiums Land and Buildings Residential Land and Buildings Development Others Others Real Estat
Slide 7: Consolidated Financial Results FY03/24
Consolidated Financial Results FY03/24 Net sales: ¥71.2 billion (up ¥8.9 billion YoY), Operating profit: ¥4.9 billion (down ¥0.9 billion YoY), ordinary profit: ¥3.9 billion (down ¥0.9 billion YoY ) (Millions of yen) Full-year FY03/24 FY03/23 FY03/24 Change Revised forecast Change Progress Actual A
Slide 8: Factors Behind Change in Net Sales by Segment
Factors Behind Change in Net Sales by Segment Net sales increased due to an increase in average sales price of condominiums and an strong performance in the Real Estate Agency Business Analysis of factors behind change in net sales Positive change Negative change (Millions of yen) Real Estate Agen
Slide 9: Factors Behind Change in Operating Profit by Segment
Factors Behind Change in Operating Profit by Segment Gross profit margin of condominiums decreased compared to the previous fiscal year, and segment profit in the Residential Development Business decreased Analysis of factors behind change in operating profit Positive change Negative change (Milli
Slide 10: Factors Behind Change in Operating Profit by Accounting item
Factors Behind Change in Operating Profit by Accounting item Operating profit decreased YoY due to a decrease in gross profit and an increase in SG&A expenses aimed at strengthening sales activities Analysis of factors behind change in operating profit Positive change Negative change (Millions of
Slide 11: FY03/24 Major Completions and Deliveries
FY03/24 Major Completions and Deliveries We developed high-value-added properties. Setagaya, Tokyo Yokohama, Kanagawa Total number of units: 46 Total number of units: 42 Completed and delivered in March 2024 Completed and delivered in March 2024 Copyright © MEIWA ESTATE Co., Ltd. All rights reserv
Slide 12: FY03/24 Major Completions and Deliveries
FY03/24 Major Completions and Deliveries We developed high-value-added properties. Sapporo, Hokkaido Fukuoka, Fukuoka Total number of units: 134 Total number of units: 42 Completed and delivered in March 2024 Completed and delivered in March 2024 Copyright © MEIWA ESTATE Co., Ltd. All rights reser
Slide 13: Composition of Net Sales
Composition of Net Sales Composition of net sales Leasing and Leasing and (Millions of yen) Related Related 891 724 (1.4%) Others (1.0%) Others Condominium 75 Condominium 177 Management (0.1%) Management (0.2%) 5,512 5,729 (8.8%) (8.0%) Real Estate Agency Real Estate 9,511 Agency (15.3%) FY03/23 15,
Slide 14: Composition of Segment Profit
Composition of Segment Profit Composition of segment profit (Millions of yen) FY03/23 FY03/24 Change Segment Change Actual Actual (%) Residential 5,511 4,262 -1,249 -22.7% Development Real Estate Agency 229 512 283 123.7% Condominium 406 483 76 19.0% Management Leasing and 378 293 -85 -22.5% Related
Slide 15: ROIC
ROIC ROIC in FY03/24 was 3.76% Changes in ROIC （％） 5.03 4.30 4.06 3.90 3.76 ROIC 3.04 2.39 Calculating* 2.25 2.35 2.11 WACC 1.94 FY03/19 FY03/20 FY03/21 FY03/22 FY03/23 FY03/24 *Calculated on a consolidated basis. See Fact Sheet for details of calculation formula. Please note that WACC for the mos
Slide 16: Results of the Residential Development Business
Results of the Residential Development Business
Slide 17: Residential Development Business
Residential Development Business Net sales in FY03/24 were ¥47.9 billion, up 5.3% YoY Conducted carefully selected purchases in consideration of the recent rise in construction costs Completed inventory at the end of FY03/24 was low at 11 units due to the smooth progress of sales contracts P
Slide 18: Residential Development Business Results FY03/24
Residential Development Business Results FY03/24 Net sales increased but profit decreased YoY (Millions of yen) FY03/23 FY03/24 Change Change Actual Actual (%) Net sales Sales to external customers 46,327 49,403 3,075 6.6% Intersegment sales and － － 8 -8 transfers Total 46,336 49,403 3,066 6.6% Se
Slide 19: Leading Sales Indicators (KPIs) for the Residential Development Business
[Ref.] Leading Sales Indicators (KPIs) for the Residential Development Business KPIs are defined as follows. Land purchase Start sales Completion/ Sales contracts contracts (construction permit granted) delivery Purchases Supply Sales Contracts Net Sales Planned sales amount at Sales value of Amou
Slide 20: Residential Development Business: Segment Profit
Residential Development Business: Segment Profit Segment profit decreased due to a down of gross profit margin of condominiums Analysis of factors behind change in segment profit Positive change Negative change (Millions of yen) Decrease in Gross profit 5,511 -1,034 Increase in SG&A 4,262 -214 (-1
Slide 21: Residential Development Business: Net Sales
Residential Development Business: Net Sales Net sales in FY03/24 were ¥47.9 billion, up 5.3% YoY Net sales * Only for new condominiums (Millions of yen) +5.3% 47,992 45,591 FY03/23 FY03/24 Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 22: Residential Development Business: Purchases
Residential Development Business: Purchases Purchases in FY03/24 amounted to ¥52.4 billion (down 22.5% YoY) Conducted carefully selected purchases in consideration of the recent rise in construction costs *Only for new condominiums Purchases *Based on planned sales price (Millions of yen) -22.5%
Slide 23: Residential Development Business: Supply
Residential Development Business: Supply Supply in FY03/24 amounted to ¥67.5 billion (up 24.0% YoY) *Only for new condominiums Supply * Based on planned sales price (Millions of yen) +24.0% 67,511 Q4 54,450 16,010 Q4 12,051 Q3 Q3 11,991 29,991 Q2 18,328 Q2 8,572 Q1 Q1 12,079 12,936 FY03/23 FY03/24
Slide 24: Residential Development Business: Properties Supplied in Q4 (1)
Residential Development Business: Properties Supplied in Q4 (1) Yokohama, Kanagawa Yokohama, Kanagawa Total number of units: 31 Total number of units: 71 Sales launched in February 2024 Sales launched in March 2024 Scheduled to be completed in March 2025 Scheduled to be completed in July 2025 Copyri
Slide 25: Residential Development Business: Properties Supplied in Q4 (2)
Residential Development Business: Properties Supplied in Q4 (2) Yokohama, Kanagawa Total number of units: 138 Sales launched in March 2024 Scheduled to be completed in June 2025 Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 26: Residential Development Business: Sales Contracts
Residential Development Business: Sales Contracts Sales contracts in FY03/24 amounted to ¥53.3 billion (up 4.0% YoY) *Only for new condominiums Sales contracts *Based on contract price (Millions of yen) +4.0% 53,304 51,276 Q4 Q4 11,814 17,590 Q3 12,475 Q3 16,789 Q2 14,995 Q2 9,298 Q1 Q1 11,991 9,6
Slide 27: Residential Development Business: Completed Inventory
Residential Development Business: Completed Inventory Completed inventory at the end of FY03/24 was low at 11 units Completed inventory (completed uncontracted units) *Only for new condominiums -26.7% 15 units 11 units As of end of FY03/23 As of end of FY03/24 Copyright © MEIWA ESTATE Co., Ltd. Al
Slide 28: Results of the Real Estate Agency Business
Results of the Real Estate Agency Business
Slide 29: Real Estate Agency Business
Real Estate Agency Business Purchase and Resale business is expanding strong by increasing workforce Net sales FY03/24：¥11.0 billion（＋72.0％ YoY） In the brokerage business, net sales increased by increasing workforce per store Net sales FY03/24： ¥0.9 billion（＋18.4％ YoY） Wealth Solution Busi
Slide 30: Real Estate Agency Business Results FY03/24
Real Estate Agency Business Results FY03/24 Net sales and profit increased YoY (Millions of yen) FY03/23 FY03/24 Change Change Actual Actual (%) Net sales Sales to external customers 9,511 15,217 5,705 60.0% Intersegment sales and － － － － transfers Total 9,511 15,217 5,705 60.0% Segment profit 229
Slide 31: Real Estate Agency Business: Segment profit
Real Estate Agency Business: Segment profit Strong performance in Purchase and Resale business and Brokerage business led to increased profit YoY Analysis of factors behind change in segment profit Positive change Negative change (Millions of yen) Brokerage fees +229M Increase in gross profit Incr
Slide 32: Real Estate Agency Business: Purchase and Resale
Real Estate Agency Business: Purchase and Resale Net sales in FY03/24 were ¥11 billion (up 72.0% YoY) Net sales of Purchase and Resale (Millions of yen) +72.0% 11,071 Q4 3,780 6,436 Q4 Q3 2,380 3,603 Q3 1,593 Q2 Q2 1,901 Q1 1,232 Q1 1,231 1,787 FY03/23 FY03/24 Copyright © MEIWA ESTATE Co., Ltd. Al
Slide 33: Real Estate Agency Business: Brokerage
Real Estate Agency Business: Brokerage Net sales in FY03/24 were ¥0.9 billion (up 18.4% YOY) Net sales (Brokerage fees) (Millions of yen) +18.4% 974 823 Q4 244 Q4 275 Q3 263 Q3 184 Q2 Q2 233 165 Q1 Q1 198 232 FY03/23 FY03/24 Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 34: Real Estate Agency Business: Wealth Solution
Real Estate Agency Business: Wealth Solution Completed settlement and delivery of two properties in Q1 Completed sales contract of 1 property in Q4 (scheduled to be delivered in May 2024) FY03/24 Condominium sales CLIO la belle vie Yokohama Sakuragicho Suite CLIO la belle vie Motoasakusa Total n
Slide 35: Results of the Condominium Management Business
Results of the Condominium Management Business
Slide 36: Condominium Management Business
Condominium Management Business Achieved high customer satisfaction Increased in switchovers of condominiums managed by other companies（x1.5 YoY） Number of units under management as of end of FY03/24: 48,940（up 3,181units YoY） Net sales remained steady at ¥5.7 billion (up ¥0.2 billion YoY) C
Slide 37: Condominium Management Business Results FY03/24
Condominium Management Business Results FY03/24 Net sales and profit increased as switchovers of condominiums managed by other companies progressed strong (Millions of yen) FY03/23 FY03/24 Change Change Actual Actual (%) Net sales Sales to external customers 5,512 5,729 216 3.9% Intersegment sales
Slide 38: Condominium Management Business: Net Sales
Condominium Management Business: Net Sales Net sales in FY03/24 were ¥5.7 billion (up ¥0.2 billion YoY) Change in net sales of Condominium Management Business (Millions of yen) Full-year Full-year 5,729 Full-year 5,512 Full-year 4,910 5,040 Q4 Q4 1,474 Q4 Q4 1,410 1,322 1,374 Q3 Q3 Q3 Q3 1,474 1,4
Slide 39: Condominium Management Business: No. of Units Under Management
Condominium Management Business: No. of Units Under Management Number of units under management increased to 48,940 units as of the end of FY03/24 Number of units under management 48,940 units 45,759 units 43,471 units 42,676 units 42,230 units End of FY03/20 End of FY03/21 End of FY03/22 End of F
Slide 40: Condominium Management Business: New Management Contracts
Condominium Management Business: New Management Contracts In FY03/24,number of units switched from other management companies increased (1.5x YoY) Continue strengthening switchovers from other management companies Change in number of units under new management contracts *Based on start of manage
Slide 41: Summary of the Strategy 2027
SE =—Summary of the Strategy 2027 A
Slide 42: Executive Summary (1/3)
Executive Summary (1/3) Triggered by the increase in construction costs mainly due to labor shortages in the construction industry and the adjustment of construction schedules, the current Five-Year Strategy* was reviewed and the Strategy for the three years from FY03/25 to FY03/27 ( Strategy 2027
Slide 43: Executive Summary (2/3)
Executive Summary(2/3) Real Estate Agency Business： • Aim to achieve net sales of ¥33.7 billion in FY03/27. • The used condominium market is worth about ¥15 trillion, much larger than that of new condominiums, and is growing at an annual rate of 23%. We will seize this secondary market through the
Slide 44: Executive Summary (3/3)
Executive Summary (3/3) Condominium Management Business： • Aim to achieve net sales of ¥6.2 billion in FY03/27. • Both the number of condominiums in stock and management fees are increasing, and the condominium management market continues to expand stably. • In the Condominium Management Business,
Slide 45: Background of the Reformulation: Changes in the Business Conditions
Background of the Reformulation ：Changes in the Business Conditions Construction costs continue to rise and sales price are also increasing Average Price of new Condominiums Trends in the Construction Cost Index*¹ in the Tokyo Metropolitan Area*² (2015=100) (Tens of thousands of yen) 130 127.7 9,0
Slide 46: Background of the Reformulation: The current Strategy and Outlook
Background of the Reformulation：The current Strategy* and Outlook Changes in the business environment have led to severe conditions for purchases in the Residential Development Business. Volume growth in the Residential Development Business unlikely from FY03/25 onward. FY03/23 FY03/24 FY03/25, FY
Slide 47: Basic Policies
Basic Policies Basic policies of the Strategy 2027 are below. Basic policies Segment Sales of products and services targeting high-earning Residential development 1 families and high net worth individuals Real Estate Agency Providing high-quality, comfortable residences in Residential development
Slide 48: Targets (Consolidated)
Targets (Consolidated) Accelerating growth in the Real Estate Agency business, aim to achieve net sales of ¥88 billion, operating profit of ¥5.5 billion and ordinary profit of ¥4.1 billion in FY03/27 (Millions of yen） FY03/24 FY03/25 FY03/26 FY03/27 Actual Target Target Target Net sales 71,250 79,
Slide 49: Shareholder Returns: Dividends
Shareholder Returns：Dividends Aim for stable profit growth and sustainable dividend expansion with a target dividend payout ratio of 30%. Basic policy of dividends Dividends (yen) Dividends per share actual Dividends per share plan The Company will continue to strive to increase shareholder value
Slide 50: Shareholder Returns: Shareholder Benefits
Shareholder Returns : Shareholder Benefits Continue to offer the shareholder benefit program, which was introduced to ensure liquidity of shares. Shareholder benefit points are awarded based on the number of shares held Number of shares held Benefit points 600 shares to 699 shares 4,000 points 700
Slide 51: Market Environment: Expanding Demand for Condominiums in Convenient Locations
Market Environment: Expanding Demand for Condominiums in Convenient Locations (1) The number of double-income households with an annual income of ¥10 million or more, our target segment, in the Tokyo Metropolitan Area has grown from 0.89 million to 1.25 million over the past five years. Number of
Slide 52: Residential Development Business: Targets and Measures
Residential Development Business Aim to achieve net sales of ¥47 billion in FY03/27. Targets Measures Net sales （Million yen） 1: • Thorough area strategy and strict observance of Carefully selected purchase standards • Actively working to adjust equivalent exchange and rights 55,000 16,000 purchas
Slide 53: Residential Development Business: Offering High-Quality Housing
Residential Development Business: Offering High-Quality Housing(1) Our evaluation in the Oricon Customer Satisfaction Ranking is rising. In particular, we ranked highly in “Design”. 2024: Oricon Customer Satisfaction Ranking Change in Ranking of Design category Tokyo Metropolitan Area newly built
Slide 54: Market Environment: Expansion of the Used Condominium Market
Market Environment: Expansion of the Used Condominium Market (1) While the supply of new condominiums is limited, the used condominium market has expanded to ¥15 trillion. It has been growing at an annual rate of 23% over the last three years. Size of the new and used condominium market in Japan (
Slide 55: Real Estate Agency Business: Purchase and Resale
Real Estate Agency Business: Purchase and Resale Aim to achieve net sales of ¥20 billion in FY03/27. Targets Measures Net Sales （Million yen） • Use manufacturing know-how cultivated in the 1: Residential Development Business to 25,000 55,000 Providing high-quality manufacture products that are lik
Slide 56: Purchase and Resale: Providing High-Quality Renovated Condominiums
Purchase and Resale: Providing High-Quality Renovated Condominiums Utilize the manufacturing know-how cultivated in the Residential Development Business to carry out renovations. AFTER Bunkyo, Tokyo 2LDK＋WIC／102.46 ㎡ 20 years old Sales price：¥180 million yen Provide customers with high-quality pro
Slide 57: Real Estate Agency Business: Brokerage
Real Estate Agency Business: Brokerage Aim to achieve net sales of ¥2.2 billion in FY03/27. Targets Measures Net Sales （Million yen） • Increase the workforce and optimize the workforce per store 5,000 2,000 １: • Increase the amount of brokerage fee by expanding Strengthening profitability the rang
Slide 58: Brokerage: Strengthening Profitability
Brokerage: Strengthening Profitability By increasing the workforce per store, we aim to boost profitability Current store locations* Planned workforce per store Current store FY03/24 FY03/27 Yamanote Actual Plan line CLIO condominium 292 No. of personnel 75 114 Kawasaki No. of store 11 11 Shonan Y
Slide 59: Market Environment: Expansion of Demand for Rental Housing
Market Environment: Expansion of Demand for Rental Housing Increase in rents for rental houses in the 23 wards of Tokyo is higher than increase in consumer prices. In particular, there has been a marked increase in family-type and compact-type property rents. Change in Tokyo 23 Wards Condominium R
Slide 60: Real Estate Agency Business: Wealth Solution
Real Estate Agency Business: Wealth Solution Aim to achieve net sales of ¥11.5 billion in FY03/27. Targets Measures Net sales （Million yen） • Further strengthen purchases by increasing the workforce 1: • Strengthen development of small-scale rental 25,000 16,000 Increase volume properties by utili
Slide 61: Market Environment: Steady Expansion of Condominium Management Markets
Market Environment: Steady Expansion of Condominium Management Markets The stock of condominiums has steadily increased to about 7 million units. Condominium management fees in the Tokyo Metropolitan Area have also risen more than 2% annually over the past five years. Change in management fees f
Slide 62: Condominium Management Business
Condominium Management Business Aim to achieve net sales of ¥6.2 billion in FY03/27. Targets Measures Net sales （Million yen） • Based on high customer satisfaction in the 1: Condominium Management Business, promote Strengthen switchover acquisition of management contracts currently 25,000 16,000 f
Slide 63: Condominium Management Business: Strengthen Switchover
Condominium Management Business: Strengthen Switchover Maintain high customer satisfaction in the Condominium Management Business. Oricon Customer Satisfaction Ranking 2023 “Tokyo Metropolitan Area Condominium Management Company”*¹ Management company staff satisfaction ranking Small-scale*² satisf
Slide 64: Leasing and Related Business
Leasing and Related Business Aim to achieve net sales of ¥1 billion in FY03/27. Targets Measures Net sales （Million yen） • Incorporate some newly built rental properties 1: developed in-house into the Leasing and Related Incorporation of new Business 5,000 16,000 properties in the Leasing • Aim to
Slide 65: Targets (consolidated) *Repost
Targets (consolidated) *Repost Accelerating growth in the Real Estate Agency business, aim to achieve net sales of ¥88 billion, operating profit of ¥5.5 billion and ordinary profit of ¥4.1 billion in FY03/27 (Millions of yen） FY03/24 FY03/25 FY03/26 FY03/27 Actual Target Target Target Net sales 71
Slide 66: The Strategy 2027
The Strategy 2027 For details of the Strategy 2027, please refer to the explanatory materials. ▶ IR site: the Strategy 2027 https://www.meiwajisyo.co.jp/corp/ir/plan/index_en.html# managementPlan Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 67: Progress of the Strategy 2027
Progress of the Strategy 2027
Slide 68: Progress of the Strategy 2027
Progress of the Strategy 2027* Residential Development Business has secured 83% contracts of the strategy 2027 sales targets for FY03/25 Sales materials for Residential Development Business have secured for the period of the Strategy 2027 Purchase and Resale in the Real Estate Agency Business
Slide 69: Residential Development Business: Progress Against Sales Targets (1)
Residential Development Business: Progress Against Sales Targets (1) For FY03/25, 83% of the strategy 2027 sales targets has been contracted For FY03/26, about 50% of the strategy 2027 sales targets has been contracted Residential Development Business sales targets *Only for new condominiums (Bi
Slide 70: Residential Development Business: Progress Against Sales Targets (2)
Residential Development Business: Progress Against Sales Targets (2) Sales materials have secured for the period of the Strategy 2027 Residential Development Business sales materials *Only for new condominiums (Billions of yen) Purchased, not supplied* Supplied, no contract Contracts concluded Net
Slide 71: Purchase and Resale: Progress Against Sales Targets (1)
Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets (1) Proceeding with sales contracts of the properties that recorded as net sales in FY03/25 Purchase and Resale sales targets (Billions of yen) Strategy 2027 Strategy 2027 sales target sales target 20.0 Strategy 2027
Slide 72: Purchase and Resale: Progress Against Sales Targets (2)
Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets (2) Secured sales materials for FY03/25 Purchase and Resale sales materials (Billions of yen) Currently leased* Strategy 2027 Preparing for sale* Strategy 2027 sales target Currently for sale sales target 20.0 Contrac
Slide 73: Wealth Solution: Progress Against Sales Targets
Real Estate Agency Business, Wealth Solution: Progress Against Sales Targets Making progress of securing sales materials for the period of the Strategy 2027 Wealth Solution Business sales materials (Billions of yen) Purchased Strategy 2027 Contracts concluded sales target Net sales recorded 11.5 S
Slide 74: [Ref.] Residential Development Business: Progress Against Sales Targets (1)
[Ref.] Residential Development Business: Progress Against Sales Targets(1) For FY03/25, 83% of the strategy 2027 sales targets has been contracted (Billions of yen) FY03/25 FY03/26 FY03/27 Plan Net Sales 50.0 45.0 47.0 (Residential Development) Net sales recorded (①) － － － Contracts concluded － Pr
Slide 75: [Ref.] Residential Development Business: Progress Against Sales Targets (2)
[Ref.] Residential Development Business: Progress Against Sales Targets(2) Sales materials have secured for the period of the Strategy 2027 (Billions of yen) FY03/25 FY03/26 FY03/27 Plan Net Sales 50.0 45.0 47.0 (Residential Development) Net sales recorded (①) － － － Contracts concluded (②) 41.8 21
Slide 76: [Ref.] Purchase and Resale: Progress Against Sales Targets
[Ref.] Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets Proceeding with sales contracts of the properties that recorded as net sales in FY03/25 (Billions of yen) FY03/25 FY03/26 FY03/27 Net sales (Real Estate Agency ) 22.1 28.0 33.7 Plan Purchase and Resale 14.1 18.
Slide 77: [Ref.] Purchase and Resale: Progress Against Sales Targets
[Ref.] Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets Secured sales materials for FY03/25 (Billions of yen) FY03/25 FY03/26 FY03/27 Net sales (Real Estate Agency 22.1 28.0 33.7 Plan ) Purchase and Resale 14.1 18.2 20.0 Net sales recorded (①) － － － Contracts conclu
Slide 78: Consolidated Financial Results Forecast FY03/25
Consolidated Financial Results Forecast FY03/25
Slide 79: FY03/25 Consolidated Financial Results Forecast
FY03/25 Consolidated Financial Results Forecast Forecast net sales of ¥79.0 billion, operating profit of ¥4.7 billion, ordinary profit of ¥3.6 billion, and profit attributable to owners of parent of ¥2.5 billion (Millions of yen) FY03/25 FY03/24 Forecast Change Change (%) Actual （Announced in May
Slide 80: Factors Behind Change in Net Sales by Segment
Factors Behind Change in Net Sales by Segment Plan to increase in net sales mainly in Real Estate Agency Business Analysis of factors behind change in net sales Positive Negative (Millions of yen) change change 79,000 （＋7,749） Condominium Leasing and Adjustment Management Related -28 +370 -72 Plan
Slide 81: Factors Behind Change in Operating Profit by Accounting item
Factors Behind Change in Operating Profit by Accounting item Although gross profit will increase due to an increase in net sales, operating profit is expected to decline to ¥4.7 billion due to an increase in SG&A expenses based on increases in employee salaries and advertising expenses. Analysis o
Slide 82: Residential Development Business: Properties Scheduled for Completion
Residential Development Business: Properties Scheduled for Completion Below are some of properties scheduled for completion. Chuo, Tokyo Yokohama, Kanagawa Fukuoka, Fukuoka Total number of units: 28 Total number of units: 53 Total number of units: 66 Scheduled to be completed in January 2025 Sched
Slide 83: Residential Development Business: Properties Scheduled for Completion
Residential Development Business: Properties Scheduled for Completion Below are some of properties scheduled for completion. Nerima, Tokyo Yokohama, Kanagawa Total number of units: 55 Total number of units: 26 Scheduled to be completed in December 2024 Scheduled to be completed in February 2025 Co
Slide 84: Residential Development Business: Delivery Schedule
Residential Development Business: Deliverly Schedule Property completions concentrated in Q4 FY03/25 (sales recorded upon completion and delivery) → Net sales forecast weighted toward Q4 FY03/25 Completion schedule (unit basis) *Only for new condominiums 962 units （100.0％） Q1 Q2 Q3 Q4 279 units 12
Slide 85: Shareholder Returns
Shareholder Returns
Slide 86: Shareholder Returns: Dividends
Shareholder Returns：Dividends Dividends of ¥40 per share is planned for FY03/25 Basic policy of dividends Dividends (yen) Dividends per share actual Dividends per share plan The Company will continue to strive to increase shareholder value and enhance internal reserves to ¥45 strengthen its financ
Slide 87: Shareholder Benefits
Shareholder Benefits A shareholder benefit program to improve share liquidity is ongoing. Points will be awarded based on the number of shares held as of March 31 each year. Shareholder benefit points are awarded based on the number of shares held Number of shares held Benefit points 600 shares
Slide 88: Contact
Corporate Planning Dept., Contact https://www.meiwajisyo.co.jp/corp/ir/contact/index_en.html Contact E-mail IR8869@meiwajisyo.co.jp MEIWA ESTATE Co., Ltd. *This material is for informational purposes only and is not intended as an offer, solicitation, or sales for any specific product. *This materia
Slide 89: Fact Sheet
Fact Sheet == wien
Slide 90: Consolidated Balance Sheet as of End of FY03/24
Consolidated Balance Sheet as of End of FY03/24 (Millions of yen) End of FY03/23 End of FY03/24 Change Change (%) Total assets 116,538 124,215 7,677 6.6% Current assets 104,242 115,135 10,892 10.4% Cash and deposits 34,147 34,902 754 2.2% Real estate for sale 7,015 16,455 9,439 134.6% Real estate fo
Slide 91: Residential Development Business: Sales Breakdown and Leading Sales Indicators
Residential Development Business: Sales Breakdown and Leading Sales Indicators (Millions of yen) FY03/23 FY03/24 FY03/25 Change Change (%) Forecast Change Actual Actual Net sales 46,327 49,403 3,075 6.6% 50,000 597 Condominiums 45,591 47,992 2,401 5.3% － － Units delivered 841 units 804 units -37 uni
Slide 92: Real Estate Agency Business: Sales Breakdown and Leading Sales Indicators
Real Estate Agency Business: Sales Breakdown and Leading Sales Indicators (Millions of yen) FY03/23 FY03/24 FY03/25 Change Change (%) Change Actual Actual Forecast Net sales 9,511 15,217 5,705 60.0% 22,100 6,883 Purchase and resale 6,436 11,071 4,635 72.0% 14,100 3,029 Units delivered 114 units 173
Slide 93: Condominium Management Business: Sales Breakdown and Leading Sales Indicators
Condominium Management Business: Sales Breakdown and Leading Sales Indicators (Millions of yen) FY03/23 FY03/24 FY03/25 Change Change (%) Change Actual Actual Forecast Net sales 5,512 5,729 216 3.9% 6,100 370 Management fees 4,314 4,614 300 7.0% － － Construction-related 940 897 -42 -4.5% － － Others
Slide 94: [Ref.] ROIC
[Ref.] ROIC Consolidated operating profit x (1 - effective tax rate) ROIC = Invested Capital* * Invested Capital is calculated as interest-bearing liabilities + equity. Calculated using the average value during the period. (Image) Consolidated Balance Sheets Assets Liabilities Current assets Current
Slide 95: [Ref.] WACC (Weighted Average Cost of Capital)
[Ref.] WACC (Weighted Average Cost of Capital) WACC = (Cost of Debt x Debt ratio) + (Cost of Equity x Equity ratio) Cost of Debt Interest-bearing liabilities interest rate x (1 - effective tax rate) Debt ratio Value of interest-bearing liabilities / (market cap + value of interest-bearing liabilitie