Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Tokyu Land — FY2008 Earnings Presentation
19 slides from Tokyu Fudosan's earnings presentation, 2009
Slide 1: Financial Highlights FY2008 ended Mar-31, 2009
Financial Highlights Financial FY 2008 ended Mar FY2008 -31,2009 Mar-31,2009 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.
Slide 3: FY2008 Operating Results
FY2008 Operating Results ◇Compared to the previous year, decrease in revenues and income resulted from lower condo 1 sales, revaluation losses on inventories and lower dividends from the sale of buildings by SPCs,etc. （\ billion） FY2007 FY2008 FY2008 Mar-2008 Mar-2009 Comparison Forecast Comparison
Slide 4: FY2008 Segment performance
FY2008 Segment performance ◇Compared to the previous year, decrease in revenues and income : [Real Estate Sales] Lower condo sales, revaluation losses on inventories [Leasing of Real Estate] Lower dividends from the sale of buildings by SPCs, Loss disposition on SPCs [Contracted Construction, Real E
Slide 5: Summary of balance sheets
Summary of balance sheets ◇Total assets ¥1,036 billion, Interest-bearing Debt ¥477 billion (¥66 billion increase) ◇Investment ¥106 billion: ¥40 billion investment in noncurrent assets, ¥66 billion equity investment in SPCs ◇Equity ratio 18.9%, nearly equal to Mar-31,2008 （\ billion） FY2007 FY2008 As
Slide 6: FY2009 Forecast
FY 2009 Forecast FY2009 ◇Decrease in operating revenue due to lower condo sales 1 Increase in operating income due to far smaller loss disposition, etc. ◇Interest-bearing Debt ¥480 billion as of Mar-31,2010, DER 2.4× remain unchanged （¥billion） FY2009 FY2009 FY2008 Mar-2010 Comparison FY2008 Mar-201
Slide 7: Leasing of Real Estate (1) FY2008 and FY2009 Forecast
Leasing of Real Estate(1) FY2008 and FY2009 Forecast FY2008：Decrease FY2008：Decrease revenues revenues and and income income Increase in revenues from new buildings, but lower dividends from the sale of buildings by SPCs and ¥5.4 billion loss disposition Forecast Forecast for for FY2009：Decrease FY2
Slide 8: Leasing of Real Estate (2) New projects
Leasing of Real Estate(2) ① New projects Floor space Projects (1,000㎡) Open Shinbashi Tokyu building (SPC) 15 Apr-08 Shinbashi Place (SPC) 9 May-08 Minamiaoyama Tokyu building (SPC) 12 Jun-08 Nihonbashi Front (SPC) 29 Jun-08 08 Aoyama Plaza building (SPC・Existing) 10 July-08 ① Shibuya Place (Owned)
Slide 9: Leasing of Real Estate (3) Vacancy Rate and Rent
Leasing of Real Estate(3)Vacancy Rate and Rent As of Mar-31,2009, Vacancy rate 4.6%, stand up 2.2% excluding the three buildings opened at the end of FY2008 Vacancy rate : Tenants actually moving in and out, including SPCs, SPCs, Office buildings and commercial facilities (\/Month/Tsubo ) ％ Tsubo ≒3
Slide 10: Leasing of Real Estate (4) Office Buildings for each area
Leasing of Real Estate (4) Office Buildings for each area Estate(4) ※Included ＳＰＣ, Office Buildings Floor space：1,000㎡, [ ]： No of buildings Mar-2005 Mar-2006 Mar-2007 Mar-2008 Mar-2009 Major of buildings Total 557 100% 529 100% 543 100% 568 100% 600 100% [68] Comparison (29) +15 +25 +31 Ichibancho
Slide 11: Leasing of Real Estate (5) Investments in SPCs
Leasing of Real Estate(5) Investments in SPCs SPCs BS [owned by TLC, considering interest ratio; Parent company] Total Assets ¥970billion Total of 64 SPCs Note）As of Mar-31,2009 〈¥990billion〉 〈71〉 below〈 〉 As of Mar-31,2008 （¥ billion） Under Construction 70 Large-scale PJ 380 【at planning stage】 Jin
Slide 12: Leasing of Real Estate (6) Investments in SPCs
Leasing of Real Estate(6) Investments in SPCs (In (In operation operation ￥490billion ￥490billion breakdown) breakdown) Mar-31,2009 Mar-31,2009 【 thou sand ㎡】 Open Chiyoda- ku Cyu o-ku Min ato- ku Sh ibuya- ku Oth ers Hat c h o bo r i T o kyu Si n agawa Pl ac e 01 【6】 （'93） 【3】 （'91） Ic h i ban c h
Slide 13: Real Estate Sales (1) FY2008 and FY2009 Forecast
Real Estate Sales(1) FY2008 and FY2009 Forecast FY2008：Decrease FY2008：Decrease revenues revenues and and income income Lower condo sales, ¥9.7 billion revaluation losses of inventories, ¥3.4 billion loss on sales Forecast Forecast for for FY2009：Decrease FY2009：Decrease revenues revenues and and in
Slide 14: Real Estate Sales (2) Outline of plan
Real Estate Sales(2) Outline of plan ◇Condominiums FY2007 FY2008 FY2009 Forecast FY2010 Forecast No. of units sold Total 3,288units Total 2,473units Total 2,139units － Revenue 120.6 92.7 76.9 Acquired land for total 3,400units to be (\billion) +26.1 (27.9) (15.8) delivered on or after next year (fro
Slide 15: Real Estate Sales (3) Land for condominiums sales
Real Estate Sales (3) Land for condominiums sales Sales(3) ・Parent sales・Parent ◇Land for condo-sales, Book Value ¥72.7 billion （Parent・As of Mar-31,2009） Book value for acquisition at each fiscal year Book value for regional distribution （As of Mar-31,2009） （As of Mar-31,2009） \（Billion） 29.1 ¥(Bil
Slide 16: Real Estate Sales (4) New supply
Real Estate Sales (4) New supply Sales(4) QUALIA CHIYODA-OCHANOMIZU Branz Tower Korien Logements （Chiyoda-ku） （Neyagawa-shi） Complete FY2009 Total 113 units Share100% Complete FY2009 Total 340 units Share35% OSAKA FUKUSHIMA TOWER （Osaka-shi） Complete FY2010 Total 540 units Share30% Futako Tamagawa r
Slide 17: Resorts (1) FY2008 and FY2009 Forecast
Resorts(1) FY2008 and FY2009 Forecast FY2008： FY2008： Increase Increase revenues revenues and and Decrease Decrease income income Increase in revenues from new facilities, but lower existing facilities sales Forecast Forecast for for FY2009： FY2009： Increase Increase revenues revenues and and income
Slide 18: Resorts (2) New Projects
Resorts(2) New Projects FY2006 FY2006 FY2007 FY2007 FY2008 FY2008 FY2009～ FY2009～ NO.21 NO.21 Nasu Nasu NO.22 NO.22 Kyu-Karuizawa ANX NO.23 Kyu-Karuizawa ANX NO.23 VIALA VIALA Hakone Hakone NO.24 NO.24 Arima Arima rokusai rokusai （No （No of of total total rooms rooms 144） 144） （No （No of of total to
Slide 19: Other Segments FY2008 and FY2009 Forecast
Other Segments FY 2008 and FY2009 Forecast FY2008：Decrease FY2008：Decrease income income FForecast orecast for for FY2009： FY2009： Retail Retail Sales： Sales： Increase Increase revenues revenues and and income income （\ billion） FY2008 FY2007 FY2008 Comparison Comparison Forecast Contracted Construc