Keihan Holdings Co.,ltd. · TSE:9045
Keihan Holdings Co.,ltd — H1 FY2023 Earnings Presentation
37 slides from Keihan Holdings Co.,ltd's earnings presentation, Nov 17, 2022
Slide 1: First Half of FY2023 Financial Results Presentation
First Half of FY2023 (Ended September 30, 2022) Financial Results Presentation November 17, 2022 Keihan Holdings Co., Ltd. (Tokyo Stock Exchange Prime Market / Securities Code: 9045 https://www.keihan-holdings.co.jp/)
Slide 2: Table of Contents
Table of Contents Summary of Consolidated Financial Results and Forecasts … 2 Progress of Measures Based on the Future Business Direction … 9 Progress of the Long-term Management Strategy … 15 Overview of the First Half of FY2023 Financial Results … 19 FY2023 Forecasts … 31 ◆Notes on forecasts◆
Slide 3: Summary of Consolidated Financial Results and Forecasts
Summary of Consolidated Financial Results and Forecasts 2
Slide 4: Summary of Consolidated Financial Results
Summary of Consolidated Financial Results • Despite a decline in the real estate business in reaction to the sales of newly developed properties in the same term of the previous year, revenue as well as operating income and ordinary income increased compared to the same term of the previous year, wh
Slide 5: Situation of Main Segments (1)
Situation of Main Segments (1) Railway (Keihan Electric Railway): Passenger figures compared to 2019 (%) 0.0 State of State of State of State of -8.0 Emergency Emergency Emergency Emergency -10.4 -12.4 -11.6 -14.2 -14.9 -14.9 -13.9 -15.1 -16.3 -16.0 -15.3 -17.1 -17.2 -17.2 -17.8 -16.7 -18.0 -18.2 -1
Slide 6: Situation of Main Segments (2)
Situation of Main Segments (2) Department Store (Keihan Department Stores): Operating revenue compared to 2019 (%) 20.0 State of State of State of State of Emergency Emergency Emergency Emergency Suspension of Suspension of Entry restrictions some stores some stores to the food floor, etc. -1.5 0.0
Slide 7: Situation of Main Segments (3)
Situation of Main Segments (3) Hotel: Occupancy rates (%) 100.0 State of State of State of State of Emergency Emergency Emergency Emergency 80.0 72.3 Suspension and scaling Suspension and scaling 69.8 back of some hotels back of some hotels 65.8 66.4 62.6 63.5 63.4 63.5 69.3 60.2 58.6 57.7 60.0 Susp
Slide 8: Preconditions for FY2023 Forecasts
Preconditions for FY2023 Forecasts Revenue forecasts (for all segments) Although the impact of the COVID-19 pandemic will remain to a certain extent, economic activity in Japan will recover moderately due to improved consumer confidence and a social trend of resumption of outings in accordance wit
Slide 9: Summary of Performance and Dividend Forecasts
Summary of Performance and Dividend Forecasts • Revenue is forecast to decrease due to the impact of COVID-19 resurgence on the retail distribution business, among other businesses. However, profits in each stage are expected to exceed the previous forecasts due to the strong performance of the real
Slide 10: Progress of Measures Based on the Future Business Direction
Progress of Measures Based on the Future Business Direction 9
Slide 11: Future Business Direction
Future Business Direction • Given drastically changing lifestyles, the Keihan Group will steer its business toward Safety & Security, Structural Reform, and BIOSTYLE in the future. • Along with the main strategies advocated in the long-term management strategy, the Keihan Group will implement measur
Slide 12: Measures by Segment (Safety & Security)
Measures by Segment (Safety & Security) Safety & Providing products and services that can reassure customers even under a pandemic, Security natural disaster, or other insecure conditions Introducing the “barrier-free fare system” • The “barrier-free fare system” has been adopted to accelerate the i
Slide 13: Measures by Segment (Structural Reform)
Measures by Segment (Structural Reform) Structural Establishing a system that can cover changes in demand in existing segments and Reform promoting products and services that can flexibly respond to new lifestyles Efforts for structural reform at Keihan Efforts for structural reform at Keihan The St
Slide 14: Measures by Segment (BIOSTYLE)
Measures by Segment (BIOSTYLE) Promoting products and services that can increase people’s life value and solve social BIOSTYLE issues at the same time Efforts at THE THOUSAND KYOTO Efforts at GOOD NATURE STATION • In the hotel business, we aim to enhance our brand and • The GOOD NATURE MARKET, a new
Slide 15: Initiatives toward Increase in Profits
Initiatives toward Increase in Profits Main condominiums to be sold in Expanding asset types in real estate sales FY2023 and thereafter No. of Hotel Condo VIVOVIVA Ishigakijima Name of property, location housing units • The first newly built hotel condominium for sale on Ishigaki Scheduled delivery
Slide 16: Progress of the Long-term Management Strategy
Progress of the Long-term Management Strategy 15
Slide 17: Progress of the Main Strategies: Redevelop Keihan areas
Progress of the Main Strategies Increasing the value of the areas along the Keihan Railway lines is the basis for the Keihan Group’s business. Redevelop So, we will continue developing the Hirakatashi, Nakanoshima and Yodoyabashi Station areas in line with Keihan areas changing lifestyles. – Joint r
Slide 18: Progress of the Main Strategies: Co-create tourism opportunity
Progress of the Main Strategies Co-create tourism While assessing the tourism situation during and after the COVID-19 pandemic, we will surely capture the opportunity local demand and start preparations toward the recovery period. Efforts in anticipation of a full-fledged recovery of tourism demand
Slide 19: Initiatives in ESG
Initiatives in ESG Fully launching the sustainability Reducing food waste promotion system • The food drive (food donation) project has been under way at Frest • The Sustainability Committee, which promotes and Matsui-yamate Shop and Frest Nagao Shop. manages the progress of ESG initiatives by the K
Slide 20: Overview of the First Half of FY2023 Financial Results
Overview of the First Half of FY2023 Financial Results 19
Slide 21: Consolidated Statements of Income
Consolidated Statements of Income • Despite a decline in the real estate business in reaction to the sales of newly developed properties in the same term of the previous year, revenue as well as operating income and ordinary income increased compared to the same term of the previous year, when a Sta
Slide 22: Segment Information
Segment Information （単位：百万円） (Millions of yen) 2023/3 1H FY2023 1H2022/3 FY2022 増減額 Change 増減率(%) Change results 2Q実績 2Q実績 results Operating 営 業 revenue 収 益 39,448 33,157 6,290 19.0% 運 輸 Transportation 業 営 業 income Operating 利 益 3,452 - △1,991 5,444 － Operating 営 業 revenue 収 益 56,951 62,652 △5,700 -
Slide 23: Segment Information (Breakdown)
Segment Information (Breakdown) [Consolidated subsidiaries] 39 companies (2 companies reduced year on year) [Equity-method affiliates] 2 companies (No change year on year) Transportation Keihan Electric Railway Co., Ltd., Keifuku Electric Railroad Co., Ltd., Keihan Bus Co., Ltd., and 12 other compan
Slide 24: Segment Information (Quarterly Changes)
Segment Information (Quarterly Changes) (Millions of yen) Transition ofセグメント別営業収益推移 operating revenue by segment 40,000 30,606 30,000 26,345 20,107 19,340 20,000 12,439 12,007 10,000 4,455 5,053 0 1Q 2Q 1Q 2Q 1Q 2Q 1Q 2Q 運輸業 Transportation 不動産業 Real estate 流通業 レジャー・サービス業 Retail distribution Leisure
Slide 25: Segment Information (Transportation)
Segment Information (Transportation) （単位：百万円） (Millions of yen) 2023/3 1H FY2023 2022/3 1H FY2022 増減額 Change 増減率 Change (%) 2Q実績 results 2Q実績 results 営 Operating 業 revenue 収 益 39,448 33,157 6,290 19.0% 鉄 Railway 道 事 業 32,024 27,319 4,705 17.2% バ Bus ス 事 業 11,111 9,429 1,681 17.8% 消 Elimination 去 - △
Slide 26: Operating Results for Transportation: Keihan Electric Railway
Operating Results for Transportation: Keihan Electric Railway 2023/3 1H FY2023 2022/3 1H FY2022 増減 Change 増減率(%) Change 2Q実績 results 2Q実績 results 百万円 millions of yen 百万円 millions of yen 百万円 millions of yen ％ 旅 Passenger 客 transportation 収 revenue 入 20,960 17,903 3,057 17.1 定 Non-commuter 期 passes 外
Slide 27: Segment Information (Real Estate)
Segment Information (Real Estate) (Millions of yen) （単位：百万円） 2023/3 1H FY2023 2022/3 1H FY2022 増減額 Change 増減率 (%) Change results 2Q実績 results 2Q実績 Operating 営 revenue 業 収 益 56,951 62,652 - △5,700 △9.1% - 不 estate Real 動 産 事 業 48,087 55,391 - △7,303 △13.2% - 不 estate Real 動 産 sales販 売 業 32,114 40,704
Slide 28: Segment Information (Retail Distribution)
Segment Information (Retail Distribution) （単位：百万円） (Millions of yen) 2023/3 1H FY2023 2022/3 1H FY2022 増減額 Change 増減率 Change (%) results 2Q実績 2Q実績 results 営 Operating 業 revenue 収 益 24,446 25,893 △1,446 - △5.6% - 百 貨 Department store 店 業 9,300 9,200 99 1.1% ス Store ト ア 業 7,388 8,724 △1,335 - △15.3% -
Slide 29: Segment Information (Leisure and Service)
Segment Information (Leisure and Service) （単位：百万円） (Millions of yen) 2023/3 1H FY2023 2022/3 1H FY2022 増減額 Change 増減率 (%) Change results 2Q実績 results 2Q実績 営 Operating 業 revenue 収 益 9,509 4,194 5,315 126.7% ホ Hotel テ ル 事 業 8,068 3,254 4,814 147.9% レ ジ Leisure ャ ー 事 業 1,454 951 503 52.9% 消 Elimination
Slide 30: Consolidated Balance Sheets
Consolidated Balance Sheets （単位：百万円） (Millions of yen) 2023/3 1H FY2023 2022/3 FY2022 増減額 Change 増減要因 Main factors of change results 2Q実績 実績 results 販売土地及び建物+15,478、 Land and buildings for sale: +15,478 流 Current 動 assets 資 産 193,811 186,794 7,016 Cash 現金及び預金△6,479 and deposits: -6,479 建物及び構築物△3,227
Slide 31: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Millions of yen) （単位：百万円） 2023/3 1H FY2023 2022/3 1H FY2022 増減額 Change 増減要因 Main factors of change 2Q実績 results 2Q実績 results Increase in other current liabilities: その他流動負債の増加+12,956、 +12,956 営 業flows Cash 活動 によ from る キ ャactivities operating ッ シュ ･ フ ロー 903 339
Slide 32: FY2023 Forecasts
F KEfHAN FY2023Forecasts 31
Slide 33: Consolidated Statement of Income (Performance Forecasts)
Consolidated Statement of Income (Performance Forecasts) • Revenue is forecast to decrease due to the impact of COVID-19 resurgence on the retail distribution business, among other businesses. However, profits in each stage are expected to exceed the previous forecasts due to the strong performance
Slide 34: Segment Information (Performance Forecasts)
Segment Information (Performance Forecasts) (Major factors affecting performance: after the previous forecasts in May) • Transportation : Decrease in revenue due to the impact of COVID-19 resurgence; increase in profits due to factors such as efforts for cost reduction • Real estate : Increases in b
Slide 35: Operating Results for Transportation (Performance Forecasts): Keihan Electric Railway
Operating Results for Transportation (Performance Forecasts): Keihan Electric Railway (Millions of yen) 2023/3 FY2023 forecasts 2023/3 FY2023 forecasts 2022/3 FY2022 full-year (released in May) 増減額 Change 増減率 Change (%) results 増減額 Change 増減率(%) Change 今回発表予想 (latest) 5月発表予想 通期実績 百万円 millions of yen
Slide 36: Capital Expenditure by Segment (Performance Forecasts)
Capital Expenditure by Segment (Performance Forecasts) （単位：百万円） (Millions of yen) 2023/3 FY2023 2023/3 forecasts FY2023 forecasts 2022/3 FY2022 full- Change 増減額 増減額 Change 今回発表予想 (latest) (released 5月発表予想 in May) 通期実績 year results 設 Capital 備 投 expenditure 資 36,900 38,800 △1,900 - 17,193 19,706 運 輸
Slide 37: EBITDA by Segment (Performance Forecasts)
EBITDA by Segment (Performance Forecasts) （単位：百万円） (Millions of yen) 2023/3 FY2023 2023/3 forecasts FY2023 forecasts 2022/3 FY2022 full- 増減額 Change 増減額 Change 今回発表予想 (latest) 5月発表予想 (released in May) 通期実績 year results Ｅ Ｂ Ｉ Ｔ Ｄ Ａ EBITDA 37,400 37,000 400 34,331 3,068 運 輸 Transportation 業 15,700 15,8