Daito Trust Construction Co., Ltd. · TSE:1878

Daito Trust Construction — Q3 FY2009 Earnings Presentation

20 slides from Daito Trust Construction's earnings presentation, February 2010

  1. Slide 1: 3Q Financial Highlights, Year ending March, 2010

    3Q Financial Highlights, Year ending March, 2010 Contents Ⅰ． 3Q Financial Results ・・・・・・・・・・・・・・ 3 Ⅱ． Key Figures ・・・・・・・・・・・・・・・・・・ 11 Ⅲ． Financial Forecasts ・・・・・・・・・・・・・・ 22 Ⅳ． Appendix ・・・・・・・・・・・・・・・・・・・・ 25

  2. Slide 2: Ⅰ-1 Income summary

    Ⅰ. 3Q Financial Results Ⅰ-1 Income summary Net sales Operating income (¥ billions) (¥ billions) 1,000 50 ¥ 37.2 bln ¥ 678.1 bln 800 40 （+115.2% y/y） （+13.3% y/y） 598.4 600 30 21.0 400 340.4 20 17.3 Plan Plan 200 ¥ 683.7 bln 10 ¥ 37.2 bln 0 0 07/12 08/12 09/12 07/12 08/12 09/12 Ordinary income Net in

  3. Slide 3: Income summary by segment (Construction, Real estate)

    Ⅰ-2 Income summary by segment （Construction） （¥ billions） 3Q FY08 3Q FY09 year on year Net sales 238.5 302.0 （+26.6%） Gross profit 76.2 103.8 （+36.2%） Gross profit margin 32.0% 34.4% ［+2.4ｐ］ [ ]： Difference from previous same period Percentage of completion basis (¥ billions) ¥71.8 bln ¥ 302.0 bln （

  4. Slide 4: Income summary by segment (Others); SG&A expenses

    Ⅰ-4 Income summary by segment （Others） （¥ billions） 3Q FY08 3Q FY09 year on year Net sales 15.1 16.9 （+11.9%） Gross profit 4.3 5.5 （+29.4%） Gross profit margin 28.4% 32.9% ［+4.5ｐ］ [ ]： Difference from previous same period (¥ billions) (¥ billions) Conversion to （%） Conversion to 25 23.6 Whole-buildi

  5. Slide 5: Financial condition and Cash flows

    Ⅰ-6 Financial condition 3Q FY09 End of FY08 （¥ billions） Current Current 136.7 178.4 liabilities liabilities （-41.7） Current Current Noncurrent 329.8 Noncurrent 72.8 383.5 65.6 assets （-53.7） assets liabilities liabilities （+7.1） Total 209.6 Total liabilities 244.1 liabilities （-34.5） Noncurrent 170

  6. Slide 6: Ⅱ. Key Figures: Orders received

    Ⅱ. Key Figures Ⅱ-1 Orders received ◇ Orders received ¥ 312.9 bln （- 7.5% y/y） （¥ millions） 400 368.3 338.5 \312.9bln 300 200 100 0 07/12 08/12 09/12 12

  7. Slide 7: Amount and number of orders received; Channels

    Ⅱ-2 The amount and The number of orders received The amount The number ( ¥ billions ) (y/y) ( Number ) (y/y) 200 102.3% 2,500 104.8% 104.4% 98.2% 95.5% 100% 100% 79.9% 2,000 1,805 150 80% 1,6981,621 1,723 80% 127 120 117.6 1,4481,512 1,500 101.0 60% 60% 100 92 94.2 1,000 40% 40% 50 20% 500 20% 0 0%

  8. Slide 8: Cancellation rate and unit price of orders received

    Ⅱ-4 Cancellation rate and Unit price of orders received Cancellation rate※ Unit price （¥ millions） 100 81.59 79.70 80 78.21 73.48 72.93 76.10 72.45 30% 25.1% 25.8% 21.9% 21.5% 60 18.7% 19.0% 14.8% 40 20 0% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 08 FY 09 FY08 FY 09 ※ Cancellation rate ＝ the a

  9. Slide 9: Orders received (forecast); Rent basis occupancy rate

    Ⅱ-6 Orders received (forecast) ◇ Orders received（forecast） ¥ 440.0 - 450.0 bln （\ billions） 498.6 500 ¥440.0 - 450.0 bln 437.3 414.3 130.2 400 98.8 97.1 300 200 100 0 07/3 08/3 09/3 10/3 Oredes received （1Q-3Q） Oredes received （4Q） 17 Ⅱ-7 Rent basis occupancy rate (as of the end of December) ◇ Resid

  10. Slide 10: Tenancy agreement; Moving out and tenancy agreement

    Ⅱ-8 Tenancy agreement (per month) ◇Number of tenancy agreement 114,842（ + 3.9% y / y ） ( thousand) Better tendency (y/y) since October！ 30 110.5% 111.1% 108.5% 110.0% 106.3% 105.1% 101.4% 94.0% 94.3% 100% 25 80% 20 18.2 17.1 15 13.7 60% 12.4 12.0 11.4 11.6 12.1 12.9 11.8 11.1 11.3 12.3 11.5 12.0 11.

  11. Slide 11: Countermeasures for tenancy agreement; Ⅲ. Financial Forecasts

    Ⅱ-10 Countermeasures for tenancy agreement 1.Tenant recruiters 1,011 (Sep.) → 1,200 (Jan.) 2.Satellite shops 177 (Sep.) → 202 (Jan.) 3.Internet website 『e-heya net』 RENEWAL ! （Jan.7） 4.TVCM Jan.-Mar. : 1.25 times on the air 5.24-hour-call center Starts from Jan. 2010 Jul.-Sep. : 92.6% (y / y) 6.Loca

  12. Slide 12: Financial forecasts (Construction & Real estate; SG&A and operating income)

    Ⅲ-1 Financial forecasts-1 (Construction & Real estate) Increase in sales & Decrease in sales & gross profit ＋ ▲ Rise in gross profit margin by deteriorated occupancy rate Sales on completed Sales on whole-building construction（in total） lease business（Quarterly） （\billions） （\billions） 500 121.4 120

  13. Slide 13: Ⅳ-1 Non-consolidated statement of income

    Ⅳ. Appendix Ⅳ-1 Non-consolidated statement of income （¥ millions） 3Q FY09 3Q FY08 year on year Net sales 320,486 271,320 + 18.1% Construction 293,731 238,526 + 23.1% Real estate & others 26,753 32,793 - 18.4% Gross profit 104,063 79,948 + 30.2% Construction 101,865 75,526 + 34.9% Real estate & other

  14. Slide 14: Financial summaries of major subsidiaries (Construction, Real estate)

    Ⅳ-2 Financial summaries of major subsidiaries ①（Construction） （¥ millions） Construction business Daito Construction Daito Steel 3Q FY09 3Q FY08 year on year 3Q FY09 3Q FY08 year on year Net sales 287 2,323 - 87.6% 2,298 2,275 + 1.0% Gross profit 14 - 93 － 131 144 - 9.0% SG&A expenses 231 52 + 344.2%

  15. Slide 15: Subsidiaries (Others); Sales structure of Real estate business

    Ⅳ-4 Financial summaries of major subsidiaries ③（Others） （¥ millions） Other business Daito Asia Development Care Partner Gaspal (Malaysia) 3Q FY09 3Q FY08 year on year 3Q FY09 3Q FY08 year on year 3Q FY09 3Q FY08 year on year Net sales 4,092 3,338 + 22.6% 9,562 8,813 + 8.5% 1,319 2,048 - 35.6% Gross

  16. Slide 16: Number of employees; Construction started units and Daito's share

    Ⅳ-6 Number of employees by occupations （non-consolidated） Sales staff Engineers Tenant recruiters Total employees（right axis） 5,000 4,000 9,000 3,000 2,000 8,000 1,000 0 7,000 08/12 09/12 10/3 （Plan） 10/3 08/12 09/12 year on year (plan) Total employees 8,953 8,686 (-267) 9,065 Sales staff 2,882 2,86

  17. Slide 17: Construction started units by area; Orders received by area

    Ⅳ-8 Number of construction started units by area & Daito’s share Number of units Daito’s share 12,000 40% 31.9% 31.3% 11,349 10,000 26.9% 30% Dito’s Ave. 21.5% 16.1% 19.5% 8,000 17.4% 20% 11.6% 15.0% (9.7%) 6,000 6.7% 10% 5,929 (8,218) 5,168 4,000 4,613 0% 3,672 2,000 2,863 -10% 2,415 1,605 0 764 -2

  18. Slide 18: Repeat orders; Rent basis occupancy rate

    Ⅳ-10 Repeat orders (￥ billions) 200 \162.9bln 150 119.8 123.7 100 46.3% 40.0% 36.9% 50 0 07/12 08/12 09/12 Repeat Orders value Composition ratio of repeat Number of repeat orders received from our existing customers ※ Composition ratio of repeat ＝ Total number of orders received 35 Ⅳ-11 Rent basis o

  19. Slide 19: Occupancy rate by area; Units under management and rent

    Ⅳ-12 Rent basis occupancy rate by area (Residential use) 100% 95.6% 96.6% 96.1% 97.3% 95.6% Daito’s Ave. 91.8% 93.2% 93.8% 92.6% 93.6% 94.1% 95.0% 95.9% 94.6% 90.6% 92.3% 90.8% 92.3% 92.0% 50% 0% ai o ku o u i u hu u nk nt k aid ts ok k ho iko us To Ki Ka ine ug kk Ky To Sh Ch sh Ho Ko Occupancy rat

  20. Slide 20: Customer's financing channel; Disclaimer

    Ⅳ-14 Customer’s financing channel Shares of financial institutions （Construction starts basis） 40% Shinkin Others ; Banks ; (2.3%) 30% (10.5%) Regional Agricultural Banks ; Cooperative ; (31.7%) 20% (11.7%) 10% City Banks ; 0% (21.6%) 07/3 08/3 09/3 09/12 Japan Housing Finance Agency ; Regional Bank

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