Kajima Corporation · TSE:1812
Kajima — FY2020 Earnings Presentation
30 slides from Kajima's earnings presentation, May 14, 2021
Slide 1: FY2020 Financial Results
FY2020 Financial Results May 14, 2021
Slide 2: FY2020 Results / FY2021 Financial Forecast
Ⅰ FY2020 Results 01 Ⅱ FY2021 Financial Forecast 15 Copyright 2021 KAJIMA CORPORATION All Rights Reserved.
Slide 3: FY2020 Results
Ⅰ FY2020 Results (April 1, 2020 ‐ March 31, 2021) 1. Business Environment 2. Financial Highlights 3. Segment Performance 4. Financial Positions 5. Investment Result Copyright 2021 KAJIMA CORPORATION All Rights Reserved.
Slide 4: 1. Business Environment
Ⅰ FY2020 Results 1. Business Environment Domestic market trends Public sector investment remained firm Private capital investment has been on a declining trend due to a cautious investment stance, and the competitive environment has become increasingly severe Generally stable balance of supply
Slide 5: 2. Financial Highlights
Ⅰ FY2020 Results 2. Financial Highlights Net income reached ¥98.5 billion compared to the full‐year forecast of ¥80 billion FY2019 FY2020 FY2020※1 Billions of yen YoY Change Result Result Forecast *1 Revenues 2,010.7 1,907.1 (103.5) 1,910.0 Operating Income 131.9 127.2 (4.6) 115.0 Ordinary Income 14
Slide 6: 2. Revenues
Ⅰ FY2020 Results 2. Revenues FY2019 FY2020 Change Billions of yen YoY Change Result Result from Forecast Revenues 2,010.7 1,907.1 (103.5) (2.8) YoY Change Factors Building Construction (175.3) (Kajima Corp) Domestic Subsidiaries and (17.3) Affiliates Civil Engineering +46.6 (Kajima Corp) Ove
Slide 7: 2. Operating Income
Ⅰ FY2020 Results 2. Operating Income FY2019 FY2020 Change Billions of yen YoY Change Result Result from Forecast Operating 131.9 127.2 (4.6) ＋12.2 Income YoY Change Factors Gross Profit (Building Construstion, (26.7) Kajima Corp) Gross Profit (Civil Engineering, +11.5 Kajima Corp) Gross Profit
Slide 8: 2. Ordinary Income
Ⅰ FY2020 Results 2. Ordinary Income FY2019 FY2020 Change Billions of yen YoY Change Result Result from Forecast Ordinary 146.6 139.7 (6.9) ＋16.7 Income YoY Change Factors Operating (4.6) Income Non‐operating (2.2) Income ‐ net Equity in Earnings (3.4) of Partnership Equity in Earnings of Unconso
Slide 9: 2. Net Income Attributable to Owners of the Parent
Ⅰ FY2020 Results 2. Net Income Attributable to Owners of the Parent FY2019 FY2020 Change Billions of yen YoY Change Result Result from Forecast Net Income 103.2 98.5 (4.7) ＋18.5 YoY Change Factors Ordinary Income (6.9) Extraordinary +2.5 Income ‐ net Gain on Sales of +7.2 Investment Securities
Slide 10: 3. Civil Engineering (Kajima Corp)
Ⅰ FY2020 Results 3. Civil Engineering (Kajima Corp) Contracts Increased due to several large‐scale projects and the acquisition of change orders Revenues Increased owing to steady progress on backlog projects Increased due to the effects of productivity improvements and the acquisition of change
Slide 11: 3. Building Construction (Kajima Corp)
Ⅰ FY2020 Results 3. Building Construction (Kajima Corp) Lower than forecast due to postponement of secured projects and highly probable Contracts projects, despite exceeding FY2019 Revenues Decreased due to low volume of large‐scale building projects Lower than forecast due to delays in the ti
Slide 12: 3. Real Estate and Other (Kajima Corp)
Ⅰ FY2020 Results 3. Real Estate and Other (Kajima Corp) Contracts Equivalent level to FY2019 Revenues Increased due to successful disposition of large‐scale properties Gross Profit ■Contract Awards ■Revenues ■Gross Profit Copyright 2021 KAJIMA CORPORATION All Rights Reserved. 10
Slide 13: 3. Domestic Subsidiaries and Affiliates
Ⅰ FY2020 Results 3. Domestic Subsidiaries and Affiliates Contracts Decreased in interior finish works and equipment works Revenues Decreased due to lower revenues in construction business Operating income kept the same level as FY2019 by improving profitability of construction Net Income busin
Slide 14: 3. Overseas Subsidiaries and Affiliates
Ⅰ FY2020 Results 3. Overseas Subsidiaries and Affiliates Contracts Decreased in the U.S. (KUSA) and Southeast Asia (KAP) Increased mainly due to steady progress in the construction and real estate development Revenues businesses in the U.S. (KUSA), where the impact of COVID‐19 was limited Decrea
Slide 15: 4. Financial Positions
Ⅰ FY2020 Results 4. Financial Positions Owners’ Equity reached the ¥800 billion level, which was our target ROE maintained above 10% FY2019 FY2020 FY2020※1 Billions of yen YoY Change Result Result Forecast *1 Total Assetes 2,172.1 2,164.8 (7.3) ― Interest‐bearing 326.8 317.0 (9.8) 380.0 Debt Owners'
Slide 16: 5. Investment Result
Ⅰ FY2020 Results 5. Investment Result Achieved the investment plan set forth in the Medium‐Term Business Plan Steadily implemented investments that contribute to the accumulation of prime assets and sustainable growth FY2018‐2020 Compared to Plan Result the plan Real Estate Development 400 400 ― (Re
Slide 17: FY2021 Forecast
Ⅱ FY2021 Forecast (April 1, 2021 ‐ March 31, 2022) 1. Business Environment Outlook 2. Financial Highlights 3. Segment Performance 4. Stockholder Returns Copyright 2021 KAJIMA CORPORATION All Rights Reserved.
Slide 18: 1. Business Environment Outlook
Ⅱ FY2021 Financial Forecast 1. Business Environment Outlook Domestic Market Trend Public investment is expected to remain firm, mainly due to demand related to national resilience, such as infrastructure upgrades Private capital investment will recover along with economic recovery, but it will t
Slide 19: 2. Financial Highlights
Ⅱ FY2021 Financial Forecast 2. Financial Highlights Forecast is based on the fiercely competitive environment in Japan and current conditions in Southeast Asia FY2020 FY2021 Billions of yen YoY Change Result Forecast Revenues 1,907.1 2,010.0 102.8 Operating Income 127.2 104.0 (23.2) Ordinary Income
Slide 20: 2. Revenues
Ⅱ FY2021 Financial Forecast 2. Revenues FY2020 FY2021 Billions of yen YoY Change Result Forecast Revenues 1,907.1 2,010.0 102.8 YoY Change Factors Building Construction +137.7 (Kajima Corp) Overseas Subsidiaries and +48.6 Affiliates Civil Engineering (49.7) (Kajima Corp) Domestic Subsidiarie
Slide 21: 2. Operating Income
Ⅱ FY2021 Financial Forecast 2. Operating Income FY2020 FY2021 Billions of yen YoY Change Result Forecast Operating 127.2 104.0 (23.2) Income YoY Change Factors Gross Profit (Construction (14.0) Business) Gross Profit (Real Estate and (3.4) Other) Increase in SG&A (5.8) Copyright 2021 KAJIMA CO
Slide 22: 2. Ordinary Income
Ⅱ FY2021 Financial Forecast 2. Ordinary Income FY2020 FY2021 Billions of yen YoY Change Result Forecast Ordinary 139.7 114.0 (25.7) Income YoY Change Factors Operating (23.2) Income Non‐operating (2.4) Income ‐ net Financing (2.1) Copyright 2021 KAJIMA CORPORATION All Rights Reserved. 20
Slide 23: 2. Net Income Attributable to Owners of the Parent
Ⅱ FY2021 Financial Forecast 2. Net Income Attributable to Owners of the Parent FY2020 FY2021 Billions of yen YoY Change Result Forecast Net Income 98.5 80.0 (18.5) YoY Change Factors Ordinary Income (25.7) Extraordinary (4.0) Income ‐ net Decrease in +10.9 Income Taxes Decrease in Noncontrol
Slide 24: 3. Civil Engineering (Kajima Corp)
Ⅱ FY2021 Financial Forecast 3. Civil Engineering (Kajima Corp) Contracts Expect to maintain over ¥300 billion level Expect to decrease due to the situation of backlog projects, such as the small number of Revenues projects in progress at the end of the construction period Gross Profit Expect t
Slide 25: 3. Building Construction (Kajima Corp)
Ⅱ FY2021 Financial Forecast 3. Building Construction (Kajima Corp) Contracts Expect to increase due to secured projects and highly probable projects Revenues Expect to increase due to full‐scale construction of large‐scale projects Expect to decrease due to fewer projects to be completed and the
Slide 26: 3. Real Estate and Other (Kajima Corp)
Ⅱ FY2021 Financial Forecast 3. Real Estate and Other (Kajima Corp) Contracts Expect to decrease from the high level of FY2020 Revenues Expect to decline due to a decrease in the number of projects to be sold Gross Profit ■Contract Awards ■Revenues ■Gross Profit Copyright 2021 KAJIMA CORPORATION
Slide 27: 3. Domestic Subsidiaries and Affiliates
Ⅱ FY2021 Financial Forecast 3. Domestic Subsidiaries and Affiliates Contracts Equivalent level to FY2020 Expect to decrease due to the impact of the adoption of the "Accounting Standard for Revenues Revenue Recognition" Net Income Expect lower profit margin in construction business ■Constructi
Slide 28: 3. Overseas Subsidiaries and Affiliates
Ⅱ FY2021 Financial Forecast 3. Overseas Subsidiaries and Affiliates Contracts Expect improvement in the order environment in Southeast Asia (KAP) Revenues Steady progress in backlog construction projects and sales in the industrial warehouse development business in Europe and the United States N
Slide 29: 4. Stockholder Returns
Ⅱ FY2021 Financial Forecast 4. Stockholder Returns Year‐end dividend increased by ¥4, the same level in FY2021 Plan to repurchase up to ¥10 billion its shares for the third consecutive year FY2019 ※1 FY2020 FY2020 FY2021 Yen Result Result Forecast *1 ※1 Forecast Dividend per Share 50.00 54.00 50.00
Slide 30: Inquiries and Disclaimer
Inquiries: Corporate Communication Group, Corporate Planning Department E‐Mail ： ir@ml.kajima.com Disclaimer: All financial information has been prepared in accordance with generally accepted accounting principles in Japan. While every attempt has been made to ensure the accuracy of information, for