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

Daito Trust Construction — Q1 FY2011 Earnings Presentation

22 slides from Daito Trust Construction's earnings presentation, August 2011

  1. Slide 1: 1Q Financial Highlights, Year ending March 31, 2012

    1Q Financial Highlights, Year ending March 31, 2012 Contents Ⅰ．1Q Financial Results ・・・・・・・・ 3 Ⅱ．Key Figures ・・・・・・・・・・・・・ 11 Ⅲ．Topics ・・・・・・・・・・・・・・・ 21 Ⅳ．Appendix ・・・・・・・・・・・・・・ 24

  2. Slide 2: 1Q Financial Results: Income summary

    Ⅰ. 1Q Financial Results Ⅰ-1 Income summary Net sales Operating income （\billions） （\billions） 300 ¥224.9bln 15 ¥7.8bln 216.2 （+4.0% y/y） 10 8.9 （- 12.5% y/y） 200 180.5 5 100 Plan ¥207.7bln 0 -1.4 Plan 0 -5 -¥1.1bln 09/6 10/6 11/6 09/6 10/6 11/6 Ordinary income Net income （\billions） （\billions） 15 1

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

    Ⅰ-2 Income summary by segment （Construction） （¥ billions） 1QFY10 1QFY11 （y/y） Net sales 76.7 75.2 （- 1.9%） Gross profit 28.1 27.3 （- 2.8%） Gross profit margin 36.7% 36.4% ［- 0.3ｐ］ [ ]：Difference from previous same period Including ¥2.0bln of net sales （\billions） at the Earthquake recovery area （\bi

  4. Slide 4: Income summary by segment (Others); Financial forecast

    Ⅰ-4 Income summary by segment (Others) （¥ billions） 1QFY10 1QFY11 （y/y） Net sales 6.21 6.95 （+12.0%） Gross profit 2.14 2.43 （+13.1%） Gross profit margin 34.6% 34.9% ［+0.3ｐ］ [ ]：Difference from previous same period （\billions） （\billions） 8 4 ¥6.95bln 6.21 6 5.52 3 ¥2.43bln 2.14 4 34.6% 34.9% 2 1.81

  5. Slide 5: Financial forecast ②

    Ⅰ-6 Financial forecast ② Second quarter Full period +¥7.1bln to the original plan mainly sales on completion ・at the disaster are ¥4.4bln （\billons） （\billions） ・of the temporary housing ¥2.7bln 500 500 452.5 459.6 +¥16.0bln to the original plan mainly sales on completion 400 ・by accelerated eco-poi

  6. Slide 6: Key Figures: Orders received

    Ⅱ. Key Figures Ⅱ-1 Orders received ◇Orders received ¥141.2bln（129.9% y/y ） （\billions） 150 139.0 \141.2bln 125.8 129.6 108.7 Including ¥3.8bln of orders received at the Earthquake 100 recovery area 50 0 1Q 2Q 3Q 4Q 1Q FY2010 FY2011 12

  7. Slide 7: Sales representatives and sales efficiency

    Ⅱ-2 Sales representatives and sales efficiency ◇Sales representatives（end of June） 3,044（+235人 y/y） ◇Orders received per rep ¥15.98mln / month（+¥3.07mln y/y） （Sales reps） （\millions） 2,903 2,921 2,981 3,044 3,000 2,809 30 2,000 15.06 15.68 \15.98mln 20 14.65 12.91 1,000 10 0 0 1Q 2Q 3Q 4Q 1Q FY2010

  8. Slide 8: Breakdown of orders received; Orders received plan

    Ⅱ-4 Breakdown of orders received ◇Rate of medium-rise 14.5%（+2.0p y/y ） ◇Rate of rebuilt 28.3%（+7.1p y/y ） Rate of medium-rise※1 Rate of rebuilt※2 40% 40% 30% 30% 28.3% 26.6% 25.6% 21.2% 21.0% 20% 20% Total rate 14.6% 14.5% 12.5% 11.9% 10.4% Daito’s rate（Include the above） 10% 10% 3.1% 3.7% 4.0% 4.2

  9. Slide 9: Tenancy agreement; Rent basis occupancy rate

    Ⅱ-6 Tenancy agreement ◇Residential use 46,517（+109.7％ y/y ） ◇Commercial use 1,306（+109.7％ y/y ） Residential use Commercial use (Number) ( y/y ) (Number) ( y/y ) 50,000 46,517 200% 1,500 200% 42,400 1,306 1,190 40,000 36,496 150% 1,000 950 150% 30,000 125.3% 116.2% 107.9% 109.7% 109.7% 20,000 100.8%

  10. Slide 10: Occupancy rate by area; Plan for tenancy agreement

    Ⅱ-8 Rent basis occupancy rate by area (Residential use : June) +3.4p +3.1p +1.5p +3.0p +1.4p +1.1p +1.0p +2.7p +1.4p 100% 95.2% 97.0% 96.1% 93.9% 93.6% 96.0% 97.4% 95.4% 96.8% 93.9% 94.6% 94.9% 96.4% 95.4% Daito’s Ave. 91.8% 90.9% 92.2% 92.7% 95.7% 50% 0% ido to i i u u u ku su ka nk ok sh ok n ho e

  11. Slide 11: Topics: Damaged buildings under early recovery

    Ⅲ. Topics Ⅲ-1 Damaged buildings under early recovery ■ Ex.) Major repairs（Inundation above floor level by Tsunami） ■ Ex.) Minor repairs Before After ▲Re-covering outer walls damaged by ▲Re-covering outer walls a collapsed telegraph pole Before After ▲Re-covering collapsed ceiling panels ▲Repairing t

  12. Slide 12: Addressing the Earthquake Reconstruction

    Ⅲ-2 Addressing to the Earthquake Reconstruction ◆Constructing temporary housing （2×4 method） → 475 units ■Iwate（Rikuzentakata・Ofunato・Miyako・Yamada） ■Miyagi（Kesennuma） ■Fukushima（Aizu-wakamatsu・Shinchi） ◆Offering units under ◆Free-offering units under Daito’s management to ◆Assistance from the owner

  13. Slide 13: Non-consolidated statement of income; Subsidiaries (Construction)

    Ⅳ-1 Non-consolidated statement of income （¥ millions） 1Q FY11 1Q FY10 y/y plan (year) Net sales 80,392 83,428 - 3.6% 481,950 Construction 75,299 76,978 - 2.2% 461,600 Real estate & others 5,092 6,449 - 21.0% 20,350 Gross profit 26,368 27,111 - 2.7% 166,900 Construction 27,250 28,264 - 3.6% 170,800 R

  14. Slide 14: Subsidiaries (Real estate); Sales structure

    Ⅳ-3 Financial summaries of major subsidiaries （ Real estate ） （ ¥ millions ） Real estate business Daito Building Management Housecom House Leave plan plan plan 1QFY11 1QFY10 y/y (year) 1QFY11 1QFY10 y/y (year) 1QFY11 1QFY10 y/y (year) Net sales 137,299 126,675 +8.4% 566,200 1,839 1,731 +6.2% 7,912 3

  15. Slide 15: Financial summaries of major subsidiaries (Others)

    Ⅳ-5 Financial summaries of major subsidiaries （Others - 1） （ ¥ millions ） Other business （Financial business） Daito Finance D.T.C plan plan 1QFY11 1QFY10 y/y (year) 1QFY11 1QFY10 y/y (year) Net sales 365 438 - 16.6% 1,381 672 637 +5.6% 2,750 Gross profit 220 267 - 17.6% 820 270 212 +27.1% 992 SG&A e

  16. Slide 16: SG&A expenses; Financial conditions

    Ⅳ-7 Selling, general and administrative expenses （¥billions） 1Q FY10 1Q FY11 （y/y） SG&A expenses 27.15 29.15 （+7.3%） SG&A ratio 12.6% 13.0% ［+0.4ｐ］ [ ]：Difference from previous same period （\billions） 40 50% 27.15 \29.15bln 40% 30 26.36 30% 20 Plan 14.6% 12.6% 13.0% ¥29.25bln 20% 10 10% 0 0% 09/6 10

  17. Slide 17: Cash flows; Number of employees

    Ⅴ-9 Cash flows Net income before taxes Cash flow provided by Operating activities -20.7 Acquisition of PP & E Cash flow used in Acquisition of securities Investing activities -0.8 Payment for dividend Cash flow used in Financing activities -2.0 Cash and cash equivalents at the end of 1Q FY2011 161.4

  18. Slide 18: Orders received by area; by repeat

    Ⅳ-11 Orders received by area （\billions） 60 +44.4% 60% +49.3% （+48.3%） Daito’s Ave. 50 +29.9% 40% +31.2% +25.2% 50.6 +22.2% +19.2% +21.3% +16.5% 40 20% 30 0% -15.3% 20 (39.2) -20% 20.5 17.1 10 14.0 -40% 10.3 10.4 11.2 0 3.1 3.7 -60% ） n io ai ku o i o ku u hu u nk eg nt aid st ok k ho iko us lr To K

  19. Slide 19: Channels of orders received; Cancellation rate and unit price

    Ⅳ-13 Channels of orders received Orders received Orders received by Repeat & Introduction from New customers Number y/y Number y/y (Number) ( y/y ) (Number) ( y/y ) 2,000 142.2% 150% 2,000 150% 125.4% 113.8% 119.7% 111.6% 116.7% 107.2% 106.8% 1,500 1,500 100.4% 96.2% 1,144 1,149 1,231 1,194 100% 100

  20. Slide 20: Number of construction starts & Daito's share

    Ⅳ-15 Number of construction starts & Daito’s share Number of construction starts 60,000 30% 51,429 46,184 42,827 40,000 20% 14.2% 11.6% 11.2% 20,000 10% 0 0% 09/5 10/5 11/5 Number of construction starts （Apr.-May） Daito's share (Apr.-May) (Ministry of Land, Infrastructure, Transport and Tourism ：”Ho

  21. Slide 21: Rent basis occupancy rate; Units under management

    Ⅳ-17 Rent basis occupancy rate Rent basis occupancy rate 100% 98% 96% 94% 92% Residential use Commercial use 90% 07(Mar.) 07(Sep.) 08(Mar.) 08(Sep.) 09(Mar.) 09(Sep.) 10(Mar.) 10(Sep.) 11(Mar.) 11(Sep.) Rent basis occupancy rate 2007(Jun.) 2008(Jun.) 2009(Jun.) 2010(Jun.) 2011(Jun.) y/y Residential

  22. Slide 22: Customer's financing channel

    Ⅳ-19 Customer’s financing channel Shares of financial institutions （Construction starts basis） 50% Agricultural 40% Cooperative ; Others; 9.7% 2.1% 30% Japan Housing Finance Agency ; 20% 12.4% Regional Banks; 46.1% 10% Shinkin Banks; 0% 12.9% 09/3 10/3 11/3 11/6 City Banks; Regional Banks City Banks

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