Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Tokyu Land — Q3 FY2009 Earnings Presentation
17 slides from Tokyu Fudosan's earnings presentation, February 2010
Slide 1: Financial Highlights FY2009 Third Quarter (First Nine Months)
Financial Highlights Financial FY 2009 Third Quarter (First Nine Months) FY2009 EEnded nded Dec -31, 200 Dec-31, 20099 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. 1
Slide 3: FY2009 Q3 (First Nine Months) and FY2009 Forecast
FY2009 Q3(First (First Nine Months) and FY2009 Forecast Nine Months) ◇Q3: Lower revenue due to lower sales of condominiums, and increased operating income （compared to the same period last year)due to SPC building dispositions(Q2) ◇Full year forecast: Budget on track as SPC building dispositions off
Slide 4: FY2009 Q3 (First Nine Months) Segment performance
FY2009 Q3(First (First Nine Months) Segment performance Nine Months) ◇ Real Estate Sales: Lower revenue and lower profit (compared to the same period last year) due to substantial declines in condominium sales and lower gross margins ◇ Leasing of Real Estate: Higher revenue and higher profits (compa
Slide 5: Leasing of Real Estate(1) FY2009 Q3 (First Nine Months)
Leasing of Real Estate(1) FY2009 Q3(First (First Nine Nine Months) Months) ◇¥27.8 billion posted from SPC building dispositions. ¥6.0 billion in losses realized, with a further ¥6.9 billion in losses expected in the full year ◇Revenue is increasing due to new operations, but revenue is expected to d
Slide 6: Leasing of Real Estate(2) New projects
Leasing of Real Estate(2) New projects ① Floor space Projects (1,000㎡) Open Shibuya Place （Owned） 4 Aug-09 09 Saclass Totsuka (Subleased) 48 Nov-09 Totsuka Nishiguchi Redevelopment 71 Apr-10 FutakoTamagawa Redevelopment 107 2010 10 Kasumigaseki Tokyu Building (SPC) 19 2010 Osaka Komatsubara (SPC) 20
Slide 7: Leasing of Real Estate(3) Vacancy Rate and Rent
Leasing of Real Estate(3)Vacancy Rate and Rent [Parent company] As of Dec-31,2009, Vacancy rate 3.2%, stand up 2.3% excluding the two local buildings opened at the end of FY2008 Vacancy rate : Tenants actually moving in and out, including SPCs, SPCs, Office buildings and commercial facilities (\thou
Slide 8: Leasing of Real Estate(4) Distribution of Office Buildings
Leasing of Real Estate(4) Distribution of Office Buildings Office Buildings : As of Sep-30, 2009 Floor space 563 thousand ㎡, Total of 69 buildings ［Area] ［Completed year] Metropolitan 4districts：457 thousand ㎡(81%) After 2001：314 thousand ㎡(56%) 22 buildings 47 buildings 8% 4% 14% 4% 4% Kansai･Other
Slide 9: Leasing of Real Estate(5) Investments in SPCs
Leasing of Real Estate(5) Investments in SPCs SPCs SPCs BS BS [owned [owned by by TLC, TLC, considering considering interest interest ratio; ratio; Parent Parent company] company] Total Assets ¥920billion Total of 64 SPCs Note）As of Dec-31, 2009 〈¥970billion〉 〈64〉 below〈 〉 As of Mar-31, 2009 （¥ bill
Slide 10: Leasing of Real Estate(6) Investments in SPCs
Leasing of Real Estate(6) Investments Investments in in SPCs SPCs (In (In operation operation ￥440billion ￥440billion breakdown) breakdown) Dec-31, Dec-31, 2009 2009 【thousand ㎡】 Ope n Chiyoda- ku Cyu o- ku Min ato- ku Sh ibu ya- ku Othe rs Hat c h o bo r i To kyu Sin agawa Plac e 01 【6】 （'93） 【3】 （
Slide 11: Real Estate Sales(1) FY2009 Q3 (First Nine Months)
Real Estate Sales(1) FY2009 Q3(First (First Nine Nine Months) Months) ◇ Substantial reduction in the number of condominium units sold, and lower gross profit margins ◇ Valuation losses of ¥6.7 billion, with a further ¥8.4 billion expected in the full year （\ billion） Third Quarter FY2008 FY2009 Firs
Slide 12: Real Estate Sales(2) Outline of plan
Real Estate Sales(2) Outline of plan ◇Condominiums ※ < > Q3 Operating Results FY2007 FY2008 FY2009 Forecast FY2010 Forecast No. of Total Total units sold Total 3,288units Total 2,473units 2,112units <1,165units> Revenue 120.6 92.7 81.0 < 39.1 > Acquired land for total 4,500units to be (\billion) fro
Slide 13: Real Estate Sales(3) Land for condominiums sales
Real Estate Sales (3) Land for condominiums sales [Parent company] Sales(3) ◇Land for condo-sales, Book Value ¥74.9 billion （Parent・As of Dec-31, 2009） Book value for acquisition at each fiscal year Book value for regional distribution （As of Dec-31, 2009） （As of Dec-31, 2009） \（Billion） As of Mar.2
Slide 14: Real Estate Sales(4) New supply
Real Estate Sales (4) New supply Sales(4) Futako Tamagawa rise Tower＆Residence （Setagaya-ku） Complete FY2010 Total 1,033 units Share30% OSAKA FUKUSHIMA TOWER （Osaka-shi） Complete FY2010 Total 540 units Share30% Branz Kōnandai Uguisunomori （Yokohama-shi） Complete FY2010 Total 265 units Share 100% 13
Slide 15: Resorts(1) FY2009 Q3 (First Nine Months)
Resorts(1) FY2009 Q3(First (First Nine Nine Months) Months) ◇Q3: Decrease in revenue due to disposition of spa facilities (implemented last year), decrease in revenue and profit due to lower membership sales of Golf course ◇Full year: Increase in revenue and profit from a recovery in existing facili
Slide 16: Resorts(2) New Projects
Resorts(2) New Projects FY2006 FY2006 FY2007 FY2007 FY2008 FY2008 FY2009～ FY2009～ NO.20 NO.20 Nasu Nasu NO.21 NO.21 Kyu-Karuizawa ANX NO.22 Kyu-Karuizawa ANX NO.22 VIALA VIALA Hakone Hakone NO.23 NO.23 Arima Arima rokusai rokusai （No of total rooms 144） （No of total rooms 26） （No of total rooms 144）
Slide 17: Other Segments FY2009 Q3 (First Nine Months)
Other Segments FY 2009 Q3(First (First Nine Nine Months) Months) （\ billion） Third Quarter FY2008 FY2009 First Nine Months Q3(Apr-Dec) Q3(Apr-Dec) Comparison Progress Contracted Construction Oprating revenue 40.8 40.4 (0.4) 64.5% Operating income (3.0) (2.2) 0.8 － Retail Sales Oprating revenue 67.0