Yamato Holdings Co., Ltd. · TSE:9064
Yamato — FY2017 Earnings Presentation
20 slides from Yamato's earnings presentation, May 1, 2017
Slide 1: Settlement of Accounts Meeting for the Fiscal Year Ended March 31, 2017
(B® YAMATO HOLDINGS Co.,LTD. Settlement of Accounts Meeting for the Fiscal Year Ended March 31, 2017 May 1, 2017 YAMATO HOLDINGS CO., LTD. Disclaimer: This material is intended for informational purposes and is not a solicitation or offer to buy or sell securities or related financial instruments. U
Slide 2: Results main points
[Results main points] (1) In FY2017, revenue increased but income decreased substantially; operating revenue and operating income amounted to ¥1,466.8 billion and ¥34.8 billion, respectively. (2) Operating revenue (YoY ↑ ¥50.4 billion) Delivery Business： Delivery volume involving large-lot mail-orde
Slide 3: Overview of FY2017 operating results
[Overview of FY2017 operating results] (1) Nothing noteworthy has emerged in terms of non-operating income, non- operating loss, extraordinary income and extraordinary loss. (2) Profit attributable to owners of parent was ¥18.0 billion. 3
Slide 4: Forecast of FY2018 operating results
[Forecast of FY2018 operating results] (1) Consolidated operating revenues: YoY ↑ 0.2% (2) Consolidated operating expenses: YoY ↑ 0.6% (3) Consolidated operating income: YoY ↓ 14.0% 4
Slide 5: Breakdown of first half and second half operating results forecasts and anticipated growth
[Breakdown of first half and second half operating results forecasts and anticipated growth] (1) In the first half, severe business conditions continuing • Growth of TA-Q-BIN delivery volume is slowing, but will continue upward momentum (delivery volume ↑ 2.0%) → Higher subcontracting expenses (comm
Slide 6: Capital management policy
[Capital management policy] Despite profit having briefly dipped in FY2017 largely due to the tightening labor market and payments for specially acknowledged working hours additionally recognized, our fundamental approach regarding capital management policy remains unchanged in terms of providing co
Slide 7: Major factors of changes in revenues by segment
[Major factors of changes in revenues by segment] Positive: Factors underpinning revenue gains; Negative: Factors underpinning revenue losses (1) Delivery Business (Revenue increase, income decrease) Positive: TA-Q-BIN delivery volume: ↑ 7.9% (Retail: ↑ 3.8%; Large lot commercial: ↑ 12.3%); operatin
Slide 8: Trends of TA-Q-BIN
[Trends of TA-Q-BIN] (1) TA-Q-BIN delivery volume up 7.9% YoY • Business involving large-lot mail-order customers continued to grow. • Sales of “TA-Q-BIN Compact” and “Nekopos” services were expanded. • Shipments for small-lot commercial have been heading higher (delivery volume up 4.7% YoY) (2) The
Slide 9: Trends of Kuroneko DM-Bin
[Trends of Kuroneko DM-Bin] (1) Kuroneko DM-Bin volume up 0.4% YoY • Volume has been on par with previous year levels despite a sluggish market and persisting price offensives being mounted by competitors, largely due to increased sales to existing large-lot customers. (2) Unit price: YoY ↓ 3.5% • T
Slide 10: Progress achieved by the TA-Q-BIN business overseas
[Progress achieved by the TA-Q-BIN business overseas] (1) With the exception of Malaysia and Taiwan, delivery volume continued to decrease as a result of efforts to review unprofitable transactions. (2) Operating income has been improving as we promote adequate pricing. 10
Slide 11: Major changes in consolidated operating expenses (overall)
[Major changes in consolidated operating expenses (overall)] (1) Operating revenue increased by 3.6% YoY while operating expenses increased by 6.2% YoY. (2) Lower crude oil prices → Fuel expenses decreased by ¥1.6 billion YoY, however, showing an upward trend. (3) Impact of payments for specially ac
Slide 12: Major changes in consolidated operating expenses (in detail)
[Major changes in consolidated operating expenses (in detail)] (1) Personnel expenses: Other personnel expenses: YoY ↑ ¥32.6 billion • Short-span part timer wages...YoY ↑ ¥0.7 billion (2) Subcontracting expenses: YoY ↑ ¥38.2 billion (↑6.9%) Commission expenses: YoY ↑ ¥24.3 billion (↑11.2%) • Deliver
Slide 13: YoY analysis of operating expenses in Delivery Business
[YoY analysis of operating expenses in Delivery Business] For this slide, refer to explanation given in relation to the previous slide. 13
Slide 14: Quarterly trends of operating income
[Quarterly trends of operating income] (1) Bar chart of a YoY comparison of operating revenues and operating expenses (2) In 4Q, operating income decreased by ¥29.6 billion YoY due to effects of payments for specially acknowledged working hours. (3) The cost environment remains severe amid the tight
Slide 15: Operating results forecast by business segment
[Operating results forecast by business segment] For this slide, refer to explanation given in relation to Slide 4. 15
Slide 16: Forecast of operating expenses
[Forecast of operating expenses] For this slide, refer to explanation given in relation to Slide 4. 16
Slide 17: Structural reforms in the Delivery Business
[Structural reforms in the Delivery Business] Explanation given on the basis of details provided in the press release [“Structural reforms in the Delivery Business” for FY2018] of April 28, 2017. 17
Slide 18: Reference 1: TA-Q-BIN Rates Table
[Reference 1] TA-Q-BIN Rates Table <Current Rates> (@® Yamato HOLDINGS co,, TD. [Units: Yen] 18
Slide 19: Reference 2: New Discount System and New Services
< Current rates [Reference 2] New Discount System and New Services e.g.> Sendin Kuroneko Member Discount 10% Drop-off Discount | ¥100 g from Kanto — Delivering to Kansai TA-Q-BIN rates of size (@® YAMATO HOLDINGS CO.,LTD. 60 Amended rates Kuroneko Member Discount | 10% Drop-off Discount | ¥100 + @ K
Slide 20: (B® Yamato HOLDINGS CO.,LTD.
(B® Yamato HOLDINGS CO.,LTD. Relations section. These presentation materials (with explanatory notes) and the minutes of the financial results meeting Q&A are posted in PDF format on the Company's website in the Investor Disclaimer: This material is intended for informational purposes only and is no