Vt Holdings Co., Ltd. · TSE:7593
Vt — FY2024 Earnings Presentation
34 slides from Vt's earnings presentation, May 20, 2025
Slide 1: Financial Results Fiscal Year Ended March 31, 2025
Financial Results Fiscal Year Ended March 31, 2025 VT HOLDINGS CO., LTD. May 20, 2025 Market: TSE Prime Market; Nagoya SE Premier Market (Code: 7593) ©2024 VT HOLDINGS CO., LTD
Slide 2: FY2024-2025: Summary of Results
FY2024-2025: Summary of Results ＶＴ ＨＯＬＤＩＮＧＳ Revenue increased by +12.8% YoY from the previous fiscal year, reaching a new record high. In the automobile sales-related business, Nissan dealers faced a challenging sales period due to less new model releases, resulting in a slight marginal YoY decl
Slide 3: FY2024-2025: Consolidated Business Results
FY2024-2025: Consolidated Business Results ＶＴ ＨＯＬＤＩＮＧＳ Revenue reached an all-time high. Revenue (left legend) Operating profit (right legend) Profit before tax (right legend) Net profit (right legend) Unordinary factor YoY Revenue +Y40.0bn (+12.8%) (Billion JPY) (Billion JPY) OP -Y1,148m (-9.6%) Ga
Slide 4: FY2024-2025: Revenue by Segment
FY2024-2025: Revenue by Segment ＶＴ ＨＯＬＤＩＮＧＳ In the automobile sales-related business, both new and used car sales performed well. The service, rent-a-car, and housing-related businesses also performed steadily. Revenue by Segment (Million JPY) Other Housing Rent-a-Car Service Used Cars 351,630 New C
Slide 5: Revenue by Segment: Quarterly Change
Revenue by Segment: Quarterly Change ＶＴ ＨＯＬＤＩＮＧＳ For both 3Q and 4Q, revenue increased YoY in all segments. Overall, revenue has increased for five consecutive years since 2021. Revenue by Segment Quarterly Change （Million JPY） New Cars Used Cars Services Car Rentals Housing, Other 100,000 93,977 89
Slide 6: FY2024-2025: Gross Profit by Segment
FY2024-2025: Gross Profit by Segment ＶＴ ＨＯＬＤＩＮＧＳ In the automobile sales-related business, sales of used cars, service, and rent-a-car performed well. Gross Profit by Business (Million JPY) Other Housing Rent-a-Car 53,378 Service Used Cars 49,603 4,393 New Cars 4,781 43,907 6,205 39,891 3,921 5,093
Slide 7: Gross Profit by Segment: Quarterly Change
Gross Profit by Segment: Quarterly Change ＶＴ ＨＯＬＤＩＮＧＳ Overall, gross profit has increased consecutively for five years since 2021. Gross Profit by Segment Quarterly Change (Million JPY) New Cars Used Cars Services Car rentals Housing, Other 16,000 14,040 14,054 13,613 1,592 12,949 916 1,497 12,584 1
Slide 8: FY2024-2025: Revenue by Region
FY2024-2025:Revenue by Region ＶＴ ＨＯＬＤＩＮＧＳ Both domestic and overseas sales grew steadily. Overseas sales has increased in part due to the impact of foreign exchange. Overseas Revenue % Revenue by Region (Million JPY) 46.5% Overseas 42.5% 42.7% 40.0% Domestic 34.9% 351,630 311,604 FY2020/21 FY2021/22
Slide 9: Revenue by Region: Quarterly Change
Revenue by Region: Quarterly Change ＶＴ ＨＯＬＤＩＮＧＳ Domestic and overseas revenue saw steady YoY growth for both 3Q and 4Q. Revenue by Region Quarterly Change (Million JPY) Domestic Overseas 100,000 93,976 89,425 87,470 84,814 85,370 80,000 77,132 76,933 72,945 43,433 68,114 38,502 65,633 66,835 39,755
Slide 10: FY2024-2025: Units Sold
FY2024-2025: Units Sold ＶＴ ＨＯＬＤＩＮＧＳ Although domestic new car sales were sluggish, overseas new car sales improved, and, combined with solid performance in used car sales, overall sales increased by 7.5% YoY. Total Cars Sold (units) New Car Domestic New Car Overseas Used Car Domestic Used Car Overse
Slide 11: Japanese Domestic New/Used Car Registration
Japanese Domestic New/Used Car Registration ＶＴ ＨＯＬＤＩＮＧＳ Manufactures’ car supply shortages have eased, and both the new car and used car markets have recently grown, approaching pre-Covid-19 pandemic levels. (10,000 units) Japanese Domestic New/Used Car Registration 700 New Cars 494 508 520 526 504
Slide 12: Japanese Domestic Number of Owned Cars
Japanese Domestic Number of Owned Cars ＶＴ ＨＯＬＤＩＮＧＳ The number of vehicles owned, a source of revenue for the service segment, has continued to increase by 19% since 2001. However, the growth rate has gradually slowed in recent years due to longer vehicle ownership periods and others. (10,000 units)
Slide 13: Consolidated Balance Sheet at the end of FY2024-2025
Consolidated Balance Sheet at the end of FY2024-2025 ＶＴ ＨＯＬＤＩＮＧＳ Total assets increased by +5.0 billion yen from the prior year. (An increase in fixed assets driven by growth in the rental car fleet and the construction of store facilities, etc.) (Billion JPY) 300 Current Assets Total Assets 277.9 【
Slide 14: FY2024-2025: Real Interest-Bearing Debt and Others
FY2024-2025: Real Interest-Bearing Debt and Others ＶＴ ＨＯＬＤＩＮＧＳ The net D/E ratio increased by 0.1 percentage points from FY 3/24 due to a rise in net interest-bearing debt aligned with capital expenditures and the expansion of the car rental business. However, the current ratio and fixed long- term
Slide 15: FY2024-2025: Consolidated Cashflow
FY2024-2025 : Consolidated Cashflow ＶＴ ＨＯＬＤＩＮＧＳ Free cash flow increased significantly from the previous fiscal year, primarily due to the streamlining of inventories and other current assets, along with an increase in other financial liabilities. We aim for stable growth, balancing operating cash f
Slide 16: FY2025-2026 Business Outlook
FY2025-2026 Business Outlook ＶＴ ＨＯＬＤＩＮＧＳ Revenue and Operating profit are expected to reach record highs, driven primarily by the production recovery of automobile manufacturers. Revenue (Billion JPY) Operating profit (Billion JPY) 351.6 +18.4 370.0 13.0 +40.0 12.0 +2.1 311.6 -1.2 10.9 2H 181.5 196.
Slide 17: FY2024-2025 Foreign Exchange Rate Assumption
FY2024-2025 Foreign Exchange Rate Assumption ＶＴ ＨＯＬＤＩＮＧＳ The financial results of overseas dealers and importers are affected by FX rates at the time of financial reporting. FY 3/25 FY 3/26 Forecast （Period-average rate） （FY 3/2025 end rate） UK ¥194.60/£ ¥193/£ SPAIN ¥163.74/€ ¥162/€ Impact by 1 JPY
Slide 18: Action to Implement Management Conscious of Cost of Capital and Stock Price
Action to Implement Management that is Conscious of Cost of Capital and Stock Price ＶＴ ＨＯＬＤＩＮＧＳ Progress on the numerical targets related to management focused on capital costs and stock prices, as disclosed on October 28, 2024. Actual Results Actual Results Target Item FY 3/24期 FY 3/25 FY 3/28 ROE
Slide 19: Revenue, Operating Profit since IPO in 1998
Revenue, Operating Profit since IPO in 1998 ＶＴ ＨＯＬＤＩＮＧＳ 400 Financial Performance Trend (Billion JPY) IFRS 30.0 370.0 Revenue Operating Profit Record High Revenue 351.6 350 Increased by 49 We aim for a growth scenario that times since IPO 25.0 311.6 300 balances the themes of expanding business scal
Slide 20: Dividends Policy
Dividends Policy ＶＴ ＨＯＬＤＩＮＧＳ Annual dividends to be 24 JPY for FY 3/26. (Consolidated Dividends Payout Ratio: 41.5%) Dividend Per Share Special/Commemorative Dividend (JPY) Year-end Dividend Interim Dividend 112.9% Payout Ratio 87.8% 100% 23.50 24.00 24.00 24.00 56.2% 54.8% 45.2% 49.3% 22.00 1.00 1.
Slide 21: Reference: TOPICS Motoren Sapporo
Reference: TOPICS Motoren Sapporo ＶＴ ＨＯＬＤＩＮＧＳ On April 1, 2025, the company acquired 100% of the shares of MOTOREN SAPPORO CO., LTD. Company Name: MOTOREN SAPPORO CO., LTD. HQ: Kushiro City, Hokkaido Stores: Sapporo, Kushiro, Obihiro, and Kitami City, Hokkaido 6 for new cars; 5 for used cars Represe
Slide 22: Reference: Corporate Profile
Reference: Corporate Profile ＶＴ ＨＯＬＤＩＮＧＳ (As of March 31, 2025) Company Name VT HOLDINGS CO., LTD. Head Office 3-10-32 Nishiki, Naka-ku, Nagoya-shi, Aichi, JAPAN Established March 1983 (previously known as Honda Verno Tokai Co., Ltd.) Representative Kazuho Takahashi (President & CEO) Capital 5,099,9
Slide 23: Reference: Number of Group Employees
Reference: Number of Group Employees ＶＴ ＨＯＬＤＩＮＧＳ (As of March 31, 2025) Segment Region Company name Number of employees*１ Number of temporary employees*１ total employees Honda Cars TOKAI 422 29 451 NAGANO NISSAN 417 21 438 SHIZUOKA NISSAN 298 37 335 MIKAWA NISSAN 197 19 216 NISSAN SATIO SAITAMA 202
Slide 24: Reference: Number of Group Automobile Dealerships
Reference: Number of Group Automobile Dealerships ＶＴ ＨＯＬＤＩＮＧＳ （ As of April 1, 2025 ） Classification Company name Brand New Car Used Car Total Honda Honda Cars TOKAI HONDA 33 1 34 NAGANO NISSAN NISSAN 31 1 32 SHIZUOKA NISSAN NISSAN 25 5 30 Nissan MIKAWA NISSAN NISSAN 12 0 12 NISSAN SATIO SAITAMA NIS
Slide 25: Reference: Main Operations and Subsidiaries
Reference: Main Operations and Subsidiaries ＶＴ ＨＯＬＤＩＮＧＳ (As of April 1, 2025) 《Automobile sales related business》 Franchised Dealer Groups Honda Cars TOKAI Motoren Shizuoka KOYO AUTO NAGANO NISSAN AUTO Fuji Motoren GRIFFIN MILL GROUP* SHIZUOKA NISSAN AUTO Motoren Mikawa WESSEX GARAGES HOLDINGS Overs
Slide 26: Reference: Automobile Dealer Companies (Japan)
Reference: Automobile Dealer Companies (Japan) ＶＴ ＨＯＬＤＩＮＧＳ Automobile Dealer Groups Motoren Shizuoka Honda Cars TOKAI HONDA dealers in Aichi and Gifu BMW dealers in Shizuoka 33 new car & 1 used car dealers 3 new car & 1 used car dealers NAGANO NISSAN AUTO Fuji Motoren NISSAN dealers in Nagano 31 new
Slide 27: Reference: Automobile Dealer Companies (Overseas)
Reference: Automobile Dealer Companies (Overseas) ＶＴ ＨＯＬＤＩＮＧＳ Automobile Dealer Groups (Overseas) GRIFFIN MILL GROUP* Multi-franchise dealers in 7 locations in United Kingdom PEUGEOT/KIA/FIAT/ABARTH/LEAPMOTOR/NISSAN/RENAULT/DACIA WESSEX GARAGES HOLDINGS Multi-franchise dealers in 12 locations in Uni
Slide 28: Reference: FY3/2025 New Car Sales by Brand
Reference: FY3/2025 New Car Sales by Brand ＶＴ ＨＯＬＤＩＮＧＳ FY3/2025 New car Sales by Brand (units) 17,439 8,294 4,964 3,714 3,402 3,265 2,501 2,205 1,518 827 541 NISSAN HONDA SUZUKI HYUNDAI KIA TOYOTA MAZDA OMODA BMW PEUGEOT Other JAECOO *Other: total of brands with less than 500 units sold (excluding m
Slide 29: Reference: Importers
Reference: Importers ＶＴ ＨＯＬＤＩＮＧＳ LOTUS Importers LCI LOTUS Direct dealers x2 PCI ROYAL ENFIELD/MUTT/FORD (Parts only)/SAAB (Parts only) ROYAL ENFIELD SCI CATERHAM/KTM X-BOW/MORGAN MUTT CATERHAM KTM X-BOW MORGAN ©2025 VT HOLDINGS CO., LTD 28
Slide 30: Reference: Automobile Manufacturer
Reference: Automobile Manufacturer ＶＴ ＨＯＬＤＩＮＧＳ Automobile Manufacturer CATERHAM CARS British car manufacturer focusing on production and sales of lightweight sports cars, “Super Seven”. As a traditional sports car brand, it has a niche but stable popularity. VT Group's know-how and other factors are
Slide 31: Reference: Exporting Used Cars
Reference: Exporting Used Cars ＶＴ ＨＯＬＤＩＮＧＳ Exporting Used Cars TRUST Exporting Japanese used cars to over 150 countries Tokyo Stock Exchange Standard Market （Security Code: 3347） Europe Exporting Used Cars Asia America Africa Oceania ©2025 VT HOLDINGS CO., LTD 30
Slide 32: Reference: Car Rentals
Reference: Car Rentals ＶＴ ＨＯＬＤＩＮＧＳ Car Rentals J-net Rental & Lease Rental Car Offices National 139 (As of March 31, 2025) Direct 64 FC 75 4th largest fleet in Japan (cars) 1. TOYOTA Rent a Car 132,795 2. ORIX Rent a Car 73,182 3. NIPPON Rent a Car 34,666 4. J-net Rent a Car 22,023 5. NISSAN Rent a
Slide 33: Reference: Housing-related Businesses
Reference: Housing-related Businesses ＶＴ ＨＯＬＤＩＮＧＳ Commercial Building, Bespoke Residential Construction and Sales Holding Company for Housing Sector Archish Gallery AMG HOLDINGS Business Area: Tokyo, Aichi and Osaka Tokyo Stock Exchange Standard Market Nagoya Stock Exchange Main Market （Security Cod
Slide 34: Contact and Disclaimer
This presentation is produced by VT Holdings (‘the Company’) to explain the company’s financial and business situation for the reference of investors. The contents of this presentation are based on widely-accepted economic and societal trends as of May 2025, in addition to logical assumptions made b