Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Tokyu Land — Q3 FY2010 Earnings Presentation
17 slides from Tokyu Fudosan's earnings presentation, February 2011
Slide 1: Financial Highlights FY2010 Third Quarter (First Nine Months)
Financial Highlights FY2010 Third Quarter (First Nine Months) Ended Dec -31, 2010 Dec-31, Tokyu Land Corporation
Slide 2: Forward-looking statements notice
The forecasts and other forward-looking statements in this report are based on currently available information and certain assumptions determined as rational. Actual performance may significantly differ from these forecasts due to various factors in the future. 1
Slide 3: FY2010 Q3 (First Nine Months) Operating Results
FY2010 Q3(First (First Nine Months) Operating Results Nine Months) ◇ Compared to the same period last year, Operating profit increased due to increased revenues of condominium units sold and a significant decrease in loss on valuation of inventories. ◇ An impairment loss of ¥28.9 billion was posted
Slide 4: FY2010 Q3 (First Nine Months) Segment performance
FY2010 Q3(First (First Nine Months) Segment performance Nine Months) ◇ Real Estate Sales: Increase in revenues and profit due to increase in recording of sales of condominium units, improvement of gross profit margin ratio and significant decrease in loss on valuation. (Compared to the same period l
Slide 5: Leasing of Real Estate(1)
Leasing of Real Estate(1) FY2010 Q3(First (First Nine Nine Months) Months) ◇ Ｑ3: A ¥2.7 billion decrease in profit because of declines in gains on sales and rents and an increase in development expenses, despite a decrease in losses realized. ◇ FY2010: Profit will rise, reflecting a sharp decline in
Slide 6: Leasing of Real Estate(2) New projects
Leasing of Real Estate(2) New projects Floor space Projects (1,000㎡) Open Shibuya Place （Owned） 4 Aug-09 09 Saclass Totsuka (Subleased) 48 Nov-09 Totsuka Tokyu Plaza （Owned） 71 Apr-10 Kasumigaseki Tokyu Building (SPC) 19 Nov-10 FutakoTamagawa Rise office （Owned,Share30%） 28 Dec-10 10 Shibuya Center
Slide 7: Leasing of Real Estate(3) Vacancy Rate and Rent
Leasing of Real Estate(3)Vacancy Rate and Rent [Parent company] As of Dec-31, 2010 Vacancy rate 4.3%, stand up 2.4% excluding the two buildings opened in the Q3 Vacancy rate : Tenants actually moving in and out, including SPCs, SPCs, Office buildings and commercial facilities (\thousand/Month/Tsubo
Slide 8: Leasing of Real Estate(4) Distribution of Office Buildings
Leasing of Real Estate(4) Distribution of Office Buildings Office Buildings : As of Dec-31, 2010 Floor space 573 thousand ㎡, Total of 68 buildings ［Area] ［Completed year] Metropolitan 4districts：469 thousand ㎡(82%) After 2001：333 thousand ㎡(58%) 23 buildings 47 buildings 8% 4% 15% 3% 4% Kansai･Other
Slide 9: Leasing of Real Estate(5) Investments in SPCs
Leasing of Real Estate(5)Investments in SPCs As of Mar- Mar-30, 2010 2010 As of Dec- Dec-31, 2010 2010 Q4: after two properties are consolidated Total Assets ¥882billion Total Assets ¥747billion Total Assets ¥731billion Total of 62 SPCs Total of 51 SPCs Total of 49 SPCs ¥27 billion of these assets a
Slide 10: Leasing of Real Estate(6) Investments in SPCs
Leasing of Real Estate(6) Investments Investments in in SPCs SPCs （Dec-31, 2010 Major assets in operation, including assets consolidated and assets to be consolidated） ※Q3 Kasumigaseki Tokyu Building : newly opened, Shinsaibashi Tokyu Building : consolidated, Akasaka Tokyu Building : acquired by TLC
Slide 11: Real Estate Sales(1)
Real Estate Sales(1) FY2010 Q3(First (First Nine Nine Months) Months) ◇ Ｑ3: Increased revenues of condominium units sold (Futako Tamagawa Rise Tower, etc.), improvement of gross profit margin ratio and significant decrease in loss on valuation. ◇ FY2010: Increase in recording of sales of condominium
Slide 12: Real Estate Sales(2) Outline of plan [Parent company]
Real Estate Sales(2) Outline of plan [Parent company] ※1 Includes block-sale properties ◇Condominiums ※2 Excludes block-sale properties FY2008 FY2009 FY2010 Forecast FY2011 Forecast No. of units sold Total 2,473units Total 2,189units Total 2,879units －land for total Acquired ※1 about 5,600units Reve
Slide 13: Real Estate Sales(3) Land for condominiums sales
Real Estate Sales(3) Land for condominiums sales [Parent company] ◇Land for condo-sales, Book Value ¥82.2 billion （Parent・As of Dec-31, 2010） Book value for acquisition at each fiscal year Book value for regional distribution （As of Dec-31, 2010） （As of Dec-31, 2010） （\ Billion） FY2010: Q3 As of Mar
Slide 14: Real Estate Sales(4) New supply
Real Estate Sales(4) New supply Branz City Miyakojima Tomobuchi-cho （Osaka-shi, Osaka） Complete Mar-2012 Total 289 units Share 65％ Branz Shinonome （Koto-ku,Tokyo） Exlus Tower Musashi-Kosugi （Kawasaki-shi, Kanagawa） Complete Mar-2012 Total 144 units Share 100% Complete Mar-2013 Total 326 units Share
Slide 15: Facility Operations(1)
Facility Operations(1) FY2010 Q3(First (First Nine Nine Months) Months) ◇ Ｑ3: Operating revenue increased due to resorts newly put in operation, income slight increase due to lower membership sales and an increase in opening costs for facilities, etc. ◇ FY2010: Operating revenue is forecasted to inc
Slide 16: Facility Operations(2) New Projects
Facility Operations(2) New Projects [ ]No. of total rooms FY2007 FY2007 FY2008 FY2008 FY2009 FY2009 FY2010 FY2010 NO.23 NO.23 Arima Arima rokusai rokusai [107] [107] NO.21 NO.21 Kyu-KaruizawaANX Kyu-KaruizawaANX [26] [26] NO.22 NO.22 VIALA VIALA Hakone Hakone [70] [70] NO.24 NO.24 VIALA VIALA annex
Slide 17: Other Segments
Other Segments FY 2010 Q3(First (First Nine Nine Months) Months) (\billion) Third Quarter FY2009 FY2010 Comparison Progress First Nine Months Q3(Apr-Dec) Q3(Apr-Dec) Contracted Construction Oprating revenue 40.4 41.0 0.7 64.0% Operating income (2.2) (0.7) 1.5 － Retail Sales Oprating revenue 59.7 57.