Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Q3 FY2015 Earnings Presentation
23 slides from Tokyu Fudosan's earnings presentation, February 2016
Slide 1: Financial Highlights FY2015 Third Quarter
Financial Highlights FY2015 Third Quarter (First Nine Months) Ended Dec-31, 2015
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. Consequently, the statements herein do not constitute assurances regarding actual results by the Company. Actual performance may significantl
Slide 3: FY2015 Q3 (First Nine Months) Operating Results
FY2015 Q3 (First Ｎｉｎｅ Months) Operating Results Both revenue and income increased, mainly attributable to contributions made by properties whose operation commenced and growth in revenue from the sale of buildings to investors and the like. （ \ billion ） Q3 Fir st Nin e M o n t h s Fu ll- ye ar (e n
Slide 4: FY2015 Q3 (First Nine Months) Segment performance
FY2015 Q3 (First Nine Months) Segment performance Urban Deveｌopment, Residential, Property Management, Real-Estate Agents, and Tokyu Hands segment saw an increase in revenues and profit. （ \ billion ） Q3 Fir st Nin e M o n t h s Fu ll- ye ar (e n de d De c - 3 1 ) (e n de d M ar - 3 1 ) Pr o gr e ss
Slide 5: Summary of balance sheets
Summary of balance sheets Assets and interest-bearing debt grew owing to investment in property and equipment and intangible assets, etc. （ \ billion） FY2014 FY2 0 1 5 A s o f M ar- 3 1 , As of Dec-31, 2015 2015 C o m par iso n Cash and deposits 9 4.3 64.7 (29.6) Real estate for sale 394.7 381.0 (13
Slide 6: Urban Development(1) FY2015 Q3
Urban Development(1)FY2015 Q3 (First Nine Months) Q3: Increase revenues and income FY2015： Decrease revenues and Increase income （\ bi l l i on） Thi rd Qua rter F Y2014 F Y2015 Q 3 (Apr - De c ) Com pa ri s on Prog res s F i rs t N i ne Months Q 3 (Apr - De c ) (* ) Opera ti ng rev enue 138.8 168.3
Slide 7: Urban Development(2) Vacancy Rate and Rent
Urban Development(2)Vacancy Rate and Rent As of Dec-31, 2015 Vacancy rate 1.9% (Tenants actually moving in and out, Office buildings and commercial facilities) (¥/Month/Tsubo) Tsubo ≅ 3.3㎡ ％ 12.0 ¥29,220 30,000 ¥27,730 ¥26,610 ¥26,090 10.0 ¥23,600 ¥23,850 ¥23,370 ¥23,270 ¥23,490 ¥23,610 ¥23,740 25,0
Slide 8: Urban Development(3) Major projects ①
Urban Development(3)Major projects ① F l oor s pa ce※ FY Projec ts Usage ( thous a nd ㎡) Open Office Sh iodome Bu ilding 119 Apr- 14 (Ac qu ire d) Commercial Nikko Sh ibu ya Nampeidai B uildin g Office 7 Apr- 14 (Ac qu ire d) North port Mall Commercial 141 Ｓｅｐ-1 4 (Ac qu ire d) Kich ijoji Place Comm
Slide 9: Urban Development(4) Major projects ② Greater Shibuya Area
Urban Development(4)Major projects ② Greater Shibuya Area Harajuku Sta. Greater Shibuya Area Omotesandou Sta. Tokyu Plaza OmotesandoHarajyuku Opened April-2012 (tentative name) Jingumae 6-chome Block Q Plaza Harajuku Urban Redevelopment Project Shin-Aoyama Opened Mar-2015 Open FY2020(Plan) Tokyu Bui
Slide 10: Residential(1) FY2015 Q3 (First Nine Months)
Residential(1)FY2015 Q3 (First Nine Months) Q3: Increase revenues and income FY2015：Increase revenues and Decrease income (\ billio n ) Th ir d Qu ar t e r FY 2 0 1 4 FY2 0 1 5 C o m par iso n Pr o gr e ss Fir st Nin e M o n t h s Q 3 (Apr - De c ) Q 3 (Apr - De c ) Ope r at in g r e ve n u e 51.9 6
Slide 11: Residential(2) Outline of condominium
Residential(2)Outline of condominium FY FY2 01 3 FY2 01 4 FY2 01 5 Fore cast FY2 01 6 Fore cast N o. of uni ts s ol d Total 2 ,5 28 u nits Total 2 ,02 7 u nits Total 1 ,90 6 un its (Plan) － Re ve n u e 1 3 3 .3 8 9 .7 8 9.5 (Plan ) (\ billio n ) fr o m t h e pr e vio u s ye ar fr o m t h e pr e vio
Slide 12: Property Management(1) FY2015 Q3 (First Nine Months)
Property Management(1)FY2015 Q3 (First Nine Months) Q3: Increase revenues and income FY2015: Increase revenues and Decrease income (\ billio n ) T h ir d Qu ar t e r FY2 0 1 4 FY 2 0 1 5 C o m par iso n Pr o gr e ss Fir st Nin e M o n t h s Q 3 (Apr - De c ) Q 3 (Apr - De c ) Ope r at in g r e ve n
Slide 13: Property Management(2) Stock of properties
Property Management(2)Stock of properties [thousand Units] Trend in stock of comprehensive condominium management and facility management in number of units Facility 700 700,000 management 600 600,000 209,361 210,951 163,070 191,143 Comprehensive 500 152,359 management 500,000 400 400,000 300 300,00
Slide 14: Real Estate Agents(1) FY2015 Q3 (First Nine Months)
Real Estate Agents(1)FY2015 Q3 (First Nine Months) Q3: Increase revenues and income FY2015: Increase revenues and Decrease income （\ bi l l i on） Thi rd Qua rter F Y2014 F Y2015 Compa ri s on Prog res s F i rs t N i ne Months Q 3 (Apr - De c ) Q 3 (Apr - De c ) Opera ti ng rev enue 40.2 50.2 10.0 69
Slide 15: Real Estate Agents(2) Performance indicators in sales agency operations
Real Estate Agents(2)Performance indicators in sales agency operations FY20 15 Q3 Retail (Result) Re tail Wh olesale Total ・Revenue rose, reflecting increase in the number of transactions and in the average handling price. No. of tran saction s 14 ,86 6 7 70 15 ,6 36 ・11 stores were opened ( R a te
Slide 16: Wellness FY2015 Q3 (First Nine Months)
Wellness FY2015 Q3 (First Nine Months) Q3: Decrease revenues and Increase income FY2015: Increase revenues and Decrease income （\ bi l l i on） T h i r d Qu ar t e r FY 2 0 1 4 FY2 0 1 5 Q 3 (Apr - De c ) Compa ri s on Prog res s Fir st Nin e M o n t h s Q 3 (Apr - De c ) (* 2 ) Opera ti ng rev enue
Slide 17: Tokyu Hands/Innovation Business FY2015 Q3
Tokyu Hands/Innovation Business FY2015 Q3(First Nine Months) Tokyu Hands Q3: Increase revenues and income Innovation Business Q3: Increase revenues and Decrease income (\billion ) FY2014 FY2015 Comparison Progress Tokyu Hands Q3 Operating revenue 65.5 72.8 7.3 74.2% results Operating income 1.2 1.2
Slide 18: Reference① Medium- and Long-Term Management Plan Value Frontier 2020
Reference① Medium- and Long-Term Management Plan “Value Frontier 2020” 2.7 × 2.6× Target DE Ratio Low 2.0 range Operating income [billion] ¥73 ¥100 DE ratio Residential Target operating Real-Estate Agents billion income billion 3.5 Innovation business Tokyu Hands 110.0 Wellness Property Management 3
Slide 19: Reference② Change of Segment Categories
Reference② Change of Segment Categories [Before change] FY2014 [After change] From FY2015～ Segment name Breakdown Breakdown Segment name Office buildings / commercial facilities Office buildings / commercial facilities Rental residence Rental residence Urban Development Management of REITs / private
Slide 20: Reference③ Previous and New Segment Information
Reference③ Previous and New Segment Information ［Until FY2014] ［From FY2015] (\ billion ) (\ billion) FY2 0 1 3 FY2 0 1 4 FY2 0 1 4 FY2 0 1 5 Comparison Comparison Re sults Re su lts Results (*) Fore c ast Operatin g re venue 714.1 773.1 5 9.1 Ope rating revenue 773.1 800.0 26.9 Ur ban De ve ｌ o pme
Slide 21: Reference④ Distribution of Office
Reference④ Distribution of Office As of Sep. 30, 2015 Office Buildings : Floor space 665 thousand ㎡, Total of 58 buildings ［Area] Metropolitan 4districts：511 thousand ㎡(77%) ［Completed year] After 2001：402 thousand ㎡(60%) 44 buildings 28 buildings 4% 0% 2% 2% Kansai 14% ～1970 12% 26 ［3］ 15 [3］ Other
Slide 22: Reference⑤ Major properties [Office building]
Reference⑤ Major properties [Office building] As of Sep. 30, 2015 21
Slide 23: Reference⑥ Major properties [Commercial facilities]
Reference⑥ Major properties [Commercial facilities] As of Sep. 30, 2015 Area Major propertie s Year Total floor [No. of n otes [Commercial facilities] built spac e ※ buildings] T o kyu Plaza Kam at a 1968 28 T o kyu Plaza Akasaka 1969 21 ＢＥＡＭ 1992 7 Su n r o se Daikan yam a 1992 4 Dain i M u sash i
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