Takamiya Co., Ltd. · TSE:2445
Takamiya — SRG TAKAMIYA — FY2018 Earnings Presentation
38 slides from Takamiya's earnings presentation, 2018
Slide 1: SRG TAKAMIYA Results Briefing Materials FY2018
SRG TAKAMIYA Co., Ltd. Results Briefing Materials for the Fiscal Year Ended March 31, 2018 1
Slide 2: Topics
Topics Feb. 23, 2018: Announced "Notice Regarding Acquiring Shares of Nakaya Kizai Co., Ltd. (which became a subsidiary)" Purpose of share acquisition 1. To strengthen sales activities in Chugoku region 2. To strengthen supply structure in Chugoku region 3. To promote market development for the ne
Slide 3: Consolidated Financial Results (Cumulative Period)
Consolidated Financial Results (Cumulative Period) FY Ended March 31, 2018 FY Ended March 31, 2018 FY Ended March 31, 2018 FY Ended March 31, 2017 Forecast Consolidated Results Forecast Results Results % change （Revised Apr. 24, 2018） （Unit:million yen） (YoY) Sales ratio Sales ratio Sales ratio Sale
Slide 4: FY2018: General Review
FY Ended March 31, 2018: General Review Revenue/profit decreased in both Sales business and Rental business, whereas Overseas business maintained steady growth. Sales businesses Rental businesses Overseas business Completion of renewal investment Substantial delay in DAI (Philippines) and Hory Korea
Slide 5: Factors which caused net sales being less than planned
Factors which caused net sales being less than as planned at the beginning of the period In spite of "Overseas" recovery, substantial decrease in internal sales of "Sales" segment as well as lower performance in "Rental" segment as compared to the previous year led to decreased revenue. （Unit:millio
Slide 6: Factors which caused operating income being less than planned
Factors which caused operating income being less than as planned at the beginning of the period Decreased revenue had effects on operating income much lower than expected at the beginning of the period (down 30% YoY). （Unit:million yen） 2,500 2,429 (1,165) 2,000 +649 1,690 1,500 (562) +339 1,000 500
Slide 7: Change in Consolidated Balance Sheet
Change in Consolidated Balance Sheet Total assets increased by 53 million yen YoY. Equity ratio is 25.0% Investments and other assets Intangible assets Property, plant and equipment Current assets 【Assets】 Net assets Non-current liabilities Current liabilities Current assets （Unit:million yen） 52,76
Slide 8: Cash flow statement
Cash flow statement Although investment in assets for rent (Operational CF) decreased, overall balance decreased due to repayments of long-term loans payable (Financial CF). FY Ended March FY Ended March 【Cash flows from operating activities】 31, 2017 31, 2018 Increase in Depreciation:160million yen
Slide 9: Sales business (Per Quarter)
Sales business (Per Quarter) Net sales in the sales business segment slowed down in the second half. Rush demand that might have been expected towards the end of the period was in reality remained at a low level, not enough for recovery. Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2
Slide 10: Sales business: Net Sales by Field
Sales business : Net Sales by Field In relation to construction, internal sales decreased and external sales could not exceed the previous year's level, and additionally sales of used equipment remained at a low level. PV contributed to environment-related business. (Unit: million yen) 11,767 1,812
Slide 11: Sales business: Recent prevalence of the Iq System
Sales business : Recent prevalence of the Iq System Actual sales decreased from "250 million yen (FY03/2017)" to "190 million yen (FY03/2018)". Lack of rush demand led to YoY loss. Recent prevalence of the Iq System（Unit : m2） 455 * Calculated as that of [assets for rent in possession] + [cumulative
Slide 12: Rental Business (Per Quarter)
Rental Business (Per Quarter) Substantial delay in commencement of projects relating to civil engineering could not be recovered throughout the period, resulting in decreased revenue/profit. Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 （Unit:million yen） Segment sales Segment pr
Slide 13: Rental Business: Change in Shipment Value of Rental Equipment
Rental Business : Change in Shipment Value of Rental Equipment Equipment for civil engineering work slowed down as "shipped amount < returned amount", and even though equipment for building work maintained steady growth it could not exceed the peak achieved during the previous period, resulting in l
Slide 14: Rental Business: Ratio of Sales by Area
Rental Business: Ratio of Sales by Area Kansai area showed reduction due to delay in big projects and others, whereas Chubu area showed good performance. FY Ended March 31, 2017 FY Ended March 31, 2018 3.6% 3.6% 12.5% Tohoku 26.8% 12.5% 32.9% Kanto Chubu Kansai 40.4% 12.8 Kyusyu 44.4% 10.6% % 【Examp
Slide 15: Rental business: Iq system, Change in value of holdings
Rental business: Iq system, Change in value of holdings Even though the situation looks like "shipped amount < returned amount" in conjunction with completion of work at the end of the period, high utilization level is maintained towards FY2019. Amount held by Iq operation rate 61.9% 60.1% 56.8% 45.
Slide 16: Overseas business (Per Quarter)
Overseas business ( Per Quarter) DAI (Philippines) and Hory Korea recorded substantial profit growth as compared to the previous year, thanks to their strengthened management control regime. Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 (Unit : million yen) Segment sales Segment
Slide 17: Overseas business
Overseas business Overseas business segment increased its share in the overall net sales to about 15%, continuing steady growth as the next-generation pillar of business. Sales Ratio by Segment Hory Korea Co., Ltd. • Solar-related demands maintained steady 14.7 growth. • Net sales directed to DAI (P
Slide 18: FY Ending March 31, 2019 Consolidated performance forecast
FY Ending March 31, 2019 Consolidated performance forecast（Cumulative period） Civil engineering projects have at last started to move forward, leading to prospects for improved profitability of Rental segment, as well as higher performance of both Sales and Overseas segments. FY Ending March 31, 201
Slide 19: Status of shareholder return
Status of shareholder return FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ending March 31, 2019 2016 2017 2018 (Forecast) Dividend 10円 10円 11円 11円 1Q － － － － 2Q 3.5yen 3.5yen 4.0yen 4.0yen 3Q － － － － 4Q 6.5yen 6.5yen 7.0yen 7.0yen Total amount of dividends 442million yen 428million ye
Slide 20: Reference materials
Reference materials 20
Slide 21: Company Overview of SRG TAKAMIYA CO., LTD.
Company Overview of SRG TAKAMIYA CO., LTD. Trade name SRG TAKAMIYA CO., LTD. Incorporation June 21, 1969 Representative President and representative director, Kazumasa Takamiya Capital 731,097,900 yen Number of employees Consolidated : 1,144; Non-consolidated : 646 (As of end-March, 2018) Registered
Slide 22: History
History • 1969 Jun. Founded as Shin Kansai Co., Ltd., currently SRG TAKAMIYA CO., LTD., in Osaka City. • 1990 Mar. Established Iwata Ltd. (currently IWATA Co., Ltd., a consolidated subsidiary) in Wakayama Prefecture. • 1994 Aug. Established Tatsumi Ltd., (currently TATSUMI Co., Ltd., a consolidated
Slide 23: Business Diagram SRG TAKAMIYA GROUP
Business Diagram Over seas SRG TAKAMIYA GROUP Japan DIMENSION-ALL HIRAMATSU TOTAL TOSHISEIBI NEXTECH AOMORI ATOM *Philippines SRG TAKAMIYA IWATA HORY VIETNAM Cadian Nkaya kizai SN Builtech Hory Korea S Sales D D R Rental M M STENMETAL Falsework, Temporary equipment for M Formwork M M shield construc
Slide 24: Sales business
Sales business Construction-related Construction-related Construction-related Construction-related Joint(clamp) Next generation scaffolding Hanging type scaffolding Safety member General-purpose equipment used in （Iq system) (Spider Panel) Preceding handrails, baseboards, any work sites New scaffold
Slide 25: Rental business
Rental business Architecture Bridge Underground work Plant High-rise buildings, high-rise Expressways, railroads, elevated Shield tunneling construction such Construction and maintenance of condominiums, warehouses, highways, bridges, etc. as subways, pipe lines, and utility treatment plants, incine
Slide 26: Overseas bases and business activities
Overseas bases and business activities Hory Korea Co.,Ltd HORY VIETNAM Co.,Ltd DIMENSION-ALL INC. ※The Philippines Manufacture and sales of temporary Manufacture of clamps for Japanese Sales/rental of formwork and equipment for construction work; markets; Manufacture of clamps falsework for construc
Slide 27: Change in Domestic Construction Investment
Change in Domestic Construction Investment Source: Research Institute of Construction and Economy, "Quarterly Outlook of Construction and Macro Economy", April 2018 2017 Up 2.6% 2018 nearly flat (Forecast) 52,470 53,830 53,860 51,298 51,141 50,820 12,948 15,700 16,200 16,160 14,158 14,960 Private no
Slide 28: Changes in invested amount for domestic building reform/renewal
Changes in invested amount for domestic building reform/renewal Source: Ministry of Land, Infrastructure Transport and Tourism, "Estimate of Construction Investment, FY2017", June 2017 UP 5.1% YoY 16,070 15,290 11,780 5,810 5,550 11,020 9,930 9,030 4,050 4,780 Housing 3,840 3,330 investment 9,740 10
Slide 29: Change in Domestic Construction Investment
Change in Domestic Construction Investment （Unit:billion yen） Government investment Private investment Renovation and renewal investment 35,000 32,730 31,380 29,700 28,740 28,279 30,000 25,574 25,000 22,560 22,861 22,230 21,120 21,090 19,717 20,000 15,290 16,070 15,000 11,780 11,020 9,930 9,030 10,0
Slide 30: Utilization rate and net sales of 50 scaffolding leasing companies
Change in utilization rate of construction materials and equipment and in net sales of 50 companies in the scaffolding and construction materials leasing business （Unit:%） （Unit:million yen） 80.0 Net sales Framework Scaffolding Falsework Members 25,000 70.0 20,000 60.0 50.0 15,000 40.0 10,000 30.0 2
Slide 31: Change in Financial Results
Change in Financial Results （Unit:million yen） Net sales Operating income 36,763 36,114 34,261 34,350 3,098 2,983 9,783 9,190 8,828 8,783 737 2,429 995 667 9,460 9,049 806 4Q 9,072 8,764 1,690 3Q 861 299 796 2Q 9,377 9,114 8,436 9,010 586 1,121 1Q 872 693 545 7,925 7,791 8,142 8,761 434 253 272 259
Slide 32: Change in Overseas Market
Change in Overseas Market (Billion dollars) Country (Million people) 2012 2013 2014 2015 2016 2017 2018 Nominal GDP 6,203 5,155 4,850 4,394 4,949 4,872 5,167 Japan Population 127 127 127 126 126 126 126 Nominal GDP 1,222 1,305 1,411 1,382 1,411 1,498 1,693 South Korea Population 50 50 50 51 51 51 51
Slide 33: Change in Consolidated Financial Results
Change in Consolidated Financial Results FY Ended March 31, FY Ended March 31, FY Ended March FY Ended March FY Ended March FY Ended March FY Ended March 31, （Unit:million yen） 2012 2013 31, 2014 31, 2015 31, 2016 31, 2017 2018 Net sales 23,201 28,113 32,443 34,261 34,350 36,763 36,114 Gross Profit
Slide 34: Change in Consolidated Balance Sheet
Change in Consolidated Balance Sheet （Unit:million yen） FY Ended March 31, FY Ended March 31, FY Ended March FY Ended March FY Ended March FY Ended March FY Ended March 31, 2012 2013 31, 2014 31, 2015 31, 2016 31, 2017 2018 Current assets 12,202 13,725 15,892 18,213 19,769 20,557 20,136 Non-current
Slide 35: Quarterly Change in Results by Segment (Per Quarter)
Quarterly Change in Results by Segment (Per Quarter) (Unit: million yen) Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales Segment sales 3,652 4,611 4,185 4,040 3,887 3,631 2,522 2,409 business (Of which) Inter-segment sales 2,561 3,491 2,924 3,558 2,804
Slide 36: Quarterly Change in Results by Segment (Cumulative Period)
Quarterly Change in Results by Segment (Cumulative Period) (Unit: million yen) Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales Segment sales 3,652 8,263 12,448 16,489 3,887 7,518 10,040 12,449 business (Of which) Inter-segment sales 2,561 6,052 8,977 1
Slide 37: Stock Price of SRG TAKAMIYA and trading volume
100,000 200,000 300,000 400,000 500,000 600,000 0 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Average daily trading volume Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 37 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Stock Price of SRG TAKAMIYA (
Slide 38: IR Contact
IR Contact Contact: Takashi Kawabata, PR / IR Section, Corporate Planning Division, SRG TAKAMIYA Co., Ltd. https://www.srg.jp/en/ir/index.html (English) URL: https://www.srg.jp/en/index.html (English) E-mail: ir@srg.jp Address: Grand Front Osaka, Tower B, 27F, 3-1 Oofuka-cho, Kita-ku, Osaka, 530-001