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

Daito Trust Construction — FY2010 Earnings Presentation

26 slides from Daito Trust Construction's earnings presentation, May 2011

  1. Slide 1: Financial Highlights, Year ended March 31, 2011

    Financial Highlights, Year ended March 31, 2011 Contents Ⅰ．Financial results ・・・・・・・・・・・・ 3 Ⅱ．Financial forecasts ・・・・・・・・・・・ 15 Ⅲ．Mid-term plan・・・・・・・・・・・・・・ 23 Ⅳ．Appendix・・・・・・・・・・・・・・・・ 29

  2. Slide 2: Financial highlights

    Ⅰ. Financial results Ⅰ-1 Financial highlights „Increase in sales and income※ Best for three straight periods Performance ※「Operating income & Ordinary income」 „Orders received ¥503.4 billion Best （＋15.7% y / y） Performance „Occupancy rate 96.0% Sound Level (Residential use in March) （＋1.4P y / y） „A

  3. Slide 3: Income summary and Tohoku earthquake disaster loss

    Ⅰ-2 Income summary Increase both in sales and income※ for three straight periods ※ 「Operating income & Ordinary income」 Net sales Operating income （\billions） （\billions） 1,400 100 ¥73.7bln ¥1,001.1bln 1,200 （+3.7% y/y） 954.8 972.6 （+2.9% y/y） 80 70.3 71.1 1,000 800 60 600 40 400 20 200 0 0 09/3 10/

  4. Slide 4: Income summary by segment (Construction)

    Ⅰ-4 Income summary by segment （Construction） （¥ billions） FY 2009 FY 2010 （y / y） Because of the revision of accounting standard by “management approach”, Net sales 465.5 430.2 （- 7.6%） segment of “building and repairs” of Daito Building Management is changed from “Construction” to “Real estate” Gro

  5. Slide 5: Orders received backlog and channels of orders received

    Ⅰ-6 Orders received backlog ◇Orders received backlog ¥483.5bln（+10.3% y/y） （\billions） Percentage of completion basis 600 523.7 500 465.9 40.2 468.7 27.6 483.5 400 438.3 300 200 100 0 09/3 10/3 11/3 ※Orders received backlog including percentage of completion basis 9 Ⅰ-7 Channels of orders received F

  6. Slide 6: Cancellation rate, unit price and tenancy agreements

    Ⅰ-8 Cancellation rate and Unit price of orders received (Quarterly comparison ) Cancellation rate※1 Unit price※2 （\millions） 100 80 76.10 76.88 30% 72.93 72.45 74.95 72.42 71.18 72.83 22.1% 21.5% 60 19.0% 18.9% 17.9% 16.9% 15.1% 40 9.8% 20 0% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 10/3 11

  7. Slide 7: Rent basis occupancy rate

    Ⅰ-10 Rent basis occupancy rate Residential use 8,900 units Improvement z「e-Heya Net」all night reception 96.0%（+1.4p y/y） 638,000units×1.4%≒8,900 zWhole reform zAgreement by subcontractor ↑ Commercial use 310 units Improvement zNumber of introduction ↑ 92.1%（+0.8p y/y） 38,700units×0.8%≒310 ･･･ etc. R

  8. Slide 8: Financial forecasts

    Ⅱ. Financial forecasts Ⅱ-1 Financial forecasts 【PLAN】 Increase both in sales and income for four straight periods Net sales Operating income Ordinary income Net income （¥blns） ¥1,068.8bln（¥blns） （¥blns） （¥blns） （+6.8% y/y） 100 100 100 1,000 ¥77.7bln ¥79.0bln 1,001.1 （+5.3% y/y） （+1.3% y/y） 73.7 78.0

  9. Slide 9: Key figures and sales and gross profit margin plan

    Ⅱ-2 Key figures Influence by 【Revival areas for the earthquake】 earthquake In and around Kitakami, Sendai and Iwaki Excluding revival areas ①Construction completed ¥452.5bln（+5.2% y/y） Material cost ↑ Gross profit margin 37.5%（-1.3p y/y） Labor cost ↑ ②Orders received ¥550.0bln（+9.3% y/y） No activity

  10. Slide 10: Plan and strategy for orders received

    Ⅱ-4 Plan for orders received Orders received ¥550.0bln（+9.3% y/y） Sales reps Unit price Sales efficiency （Number） （\mlns） （\mlns） 3,500 90 20 3,150 ¥15.00mln 14.59 80 15 2,981 12.60 3,000 74.22 73.38 ¥74.00mln 2,830 70 10 2,500 60 5 2,000 50 0 10/3 11/3 12/3（plan） 10/3 11/3 12/3（plan） 10/3 11/3 12/3

  11. Slide 11: Plan for tenancy agreements and occupancy rate

    Ⅱ-6 Plan for tenancy agreement and occupancy rate Occupancy rate (March, 2012) Tenancy agreement ‹Residential use 97.0% 222,500 （+8.9% y/y） 【+1.0p y/y】⇒7,000units Improvement! （Managing units : 697,000×1.0p） ‹Residential use 217,000 （+8.7% y/y） ‹Commercial use 94.5% 【+2.4p y/y】⇒920units Improvement!

  12. Slide 12: Mid-term plan key figures

    Ⅲ. Mid-term plan Ⅲ-1 Key figures 5years 11/3 16/3（plan） Ratio Sales reps 2,981 3,550 +19.1% Orders received ¥503.4bln ¥630.0bln +25.1% Construction completed ¥430.2bln ¥564.0bln +31.1% Gross profit margin 38.8% 36.0% － Tenancy agreement 204,379 290,000 +42.2% Occupancy rate for Residential use（March

  13. Slide 13: Profit and loss statement and financial indicators

    Ⅲ-2 Profit and Loss statement （¥billions） Result Plan 11/3 12/3 13/3 14/3 15/3 16/3 Net sales 1,001.1 1,068.8 1,136.5 1,209.9 1,290.4 1,373.8 Construction 430.2 452.5 477.5 504.8 533.3 564.2 Real estate 545.2 588.2 629.8 672.8 721.3 769.8 Other business 25.6 28.1 29.2 32.3 35.8 39.8 Gross profit mar

  14. Slide 14: EPS, dividend per share and payout ratio

    Ⅲ-4 Financial indicators (EPS / Dividend per share ・ Payout ratio) EPS Dividend per share／Payout ratio （\） （\） ･･･Result ･･･Result ･･･Result 1,000 800 80% ･･･Plan ･･･Plan ･･･Plan 800 59.6% 711.9 600 60% 669.8 689.6 50.0% 50.0% 50.0% 50.0% 50.0% 618.9 600 576.7 400 335 345 356 40% 384.2 288 309 400 2

  15. Slide 15: Non-consolidated statement of income

    Ⅳ. Appendix Ⅳ-1 Non-consolidated statement of income （¥ millions） FY2011 FY2010 FY2009 y/y (Plan) Net sales 460,230 484,569 - 5.0% 474,850 Construction 435,186 449,890 - 3.3% 454,500 Real estate & others 25,043 34,678 - 27.8% 20,350 Gross profit 163,707 164,962 - 0.8% 164,600 Construction 167,957 16

  16. Slide 16: Major subsidiaries (Construction) and Real estate segment

    Ⅳ-2 Financial summaries of major subsidiaries （Construction） （ ¥ millions ） Construction business Daito Construction Daito Steel FY2011 FY2011 FY2010 FY2009 y/y (Plan) FY2010 FY2009 y/y (Plan) Net sales 5,596 644 +768.9% 5,000 3,448 3,430 +0.5% 3,188 Gross profit 451 55 +720.0% 304 179 210 - 14.8% 1

  17. Slide 17: Sales structure of Real estate business

    Ⅳ-4 Sales Structure of Real estate business （ ¥ millions ） FY2008 FY2009 FY2010 Amount （Ratio） Amount （Ratio） Amount （Ratio） y/y Brokerage 11,620 (2.5%) 11,797 (2.5%) 11,975 (2.2%) +1.5% Management service 450 (0.1%) 469 (0.1%) 428 (0.1%) - 8.7% Sub-lease ※1 21,417 (4.6%) 15,596 (3.2%) 9,956 (1.8%)

  18. Slide 18: Other business segment and subsidiaries

    Ⅳ-6 Income summary by segment （Other business） （¥ billions） FY2009 FY2010 （y / y） Net sales 23.4 25.6 （+9.2%） Gross profit 7.8 9.0 （+15.2%） Gross profit margin 33.4% 35.2% ［+1.8ｐ］ [ ]：Difference from previous year （\billion） （\billion） （%） 30 10 ¥9.0bln ¥25.6bln 23.4 7.8 20.4 8 20 6.2 6 30.4% 33.4%

  19. Slide 19: Major subsidiaries and SG&A expenses

    Ⅳ-8 Financial summaries of major subsidiaries （Others - 2） （ ¥ millions ） Other business (Other) Care Partner Gaspal D. A. D. (M) FY11 FY11 FY11 FY10 FY09 y/y (Plan) FY10 FY09 y/y (Plan) FY10 FY09 y/y (Plan) Net sales 6,194 5,485 +12.9% 6,527 16,547 14,951 +10.7% 18,366 1,934 1,763 +9.7% 2,122 Gross

  20. Slide 20: Financial conditions and cash flows

    Ⅳ-10 Financial conditions End of FY2010 End of FY2009 （¥billions） Current Current 193.2 166.9 liabilities liabilities （+26.2） Current 369.1 Current Noncurrent assets assets 376.3 78.5 （- 7.2） Noncurrent 207.4 liabilities liabilities （+128.9） Total liabilities 245.4 Total 400.7 liabilities （+155.2） N

  21. Slide 21: Number of employees and orders received by area

    Ⅳ-12 Number of employees by each occupations （Non-consolidated） Sales reps Engineers Tenant recruiters Total employees （right axis） 5,000 10,000 4,000 9,000 3,000 8,000 2,000 7,000 1,000 6,000 0 5,000 10/3 end 11/3 end 12/3 end（plan） 10/3 end 11/3 end （y/y） 12/3 plan Total employees 8,653 8,822 +169

  22. Slide 22: Sales reps and orders received by repeat

    Ⅳ-14 Sales reps and sales efficiency ◇ Sales reps 2,981 （+151 y/y） ◇ Orders received per rep ¥14.59 mil / month （+¥1.99 mil y/y） (Sales rep) (￥millions) 3,500 20 3,020 2,981 3,000 2,830 2,500 15 2,000 14.59 12.32 12.60 10 1,500 1,000 5 500 0 0 09/3 10/3 11/3 Sales reps Orders received per rep 43 Ⅳ-1

  23. Slide 23: Construction starts and Daito's share

    Ⅳ-16 Number of construction starts & Daito’s share Number of construction starts 500,000 20% 444,848 16.5% 16.2% 400,000 15% 11.6% 311,463 291,840 300,000 10% 200,000 5% 100,000 0 0% 09/3 10/3 11/3 Number of construction starts （Apr.-Mar.） Daito's share (Apr.-Mar.) (Ministry of Land, Infrastructure,

  24. Slide 24: Rent basis occupancy rate

    Ⅳ-18 Rent basis occupancy rate Rent basis occupancy rate 100% 98% 96% 94% 92% Residential use Commercial use 90% 07/3 07/9 08/3 08/9 09/3 09/9 10/3 10/9 11/3 Rent basis occupancy rate 2007(Mar.) 2008(Mar.) 2009(Mar.) 2010(Mar.) 2011(Mar.) y/y Residential use (%) 96.6% 96.4% 95.6% 94.6% 96.0% +1.4p C

  25. Slide 25: Units under management and customer financing channel

    Ⅳ-20 Number of units under management & aggregate amount of rent Residential use Commercial use Managing units Rent Managing units Rent (thousands) (￥billions) (thousands) (￥billions) 700 645 50 500 10 598 600 552 36.4 40 400 7.1 8 500 31.1 33.6 6.7 6.5 400 30 300 6 300 20 200 4 200 10 100 2 100 39.

  26. Slide 26: Disclaimer and contact

    １．Disclaimer of warranties for the contents Daito pays careful attention about the information carried on this homepage. However, Daito can not offer the guarantee about the accuracy, reliability, safety, etc. Please recognize the information about future forecast that Daito may offer is prediction

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