Takamiya Co., Ltd. · TSE:2445
Takamiya — SRG TAKAMIYA — Q3 FY2017 Earnings Presentation
37 slides from Takamiya's earnings presentation, Nov 17, 2016
Slide 1: Results Briefing Materials for the 3rd Quarter of FY Ending March 31, 2017
(English translation for reference purposes only) SRG TAKAMIYA Co., Ltd. Results Briefing Materials for the 3rd Quarter of the Fiscal Year Ending March 31, 2017 November 17, 2016 1
Slide 2: 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 714,770,000 yen Number of employees Consolidated: 1,154 ; Non-consolidated: 403 (As of end-September 2016) Register
Slide 3: History
History • 1969 Jun. Founded as Shin Kansai Co., Ltd., existing SRG TAKAMIYA Co., Ltd. in Osaka City • 1984 Nov. SRG TAKAMIYA Co., Ltd., then a subsidiary, was established in Tokyo Metropolitan • 1987 Dec. Merged the subsidiary, reestablished as SRG TAKAMIYA Co., Ltd. • 1990 Mar. Iwata Ltd., existing
Slide 4: Business Diagram
Business Diagram Overseas Manufacture and sales of Manufacture and sales of Japanese and overseas manufacturers and manufacturers temporary equipment and materials Products emporary equipment and materials distributors of temporary equipment and materials, and distributors of general trading company
Slide 5: TOPICS
TOPICS December 20, 2016 “Notice Regarding Absorption-type Merger (Simplified / Short-Form Merger) of Consolidated Subsidiary” TATSUMI Co., Ltd. is a wholly owned subsidiary of SRG Takamiya. It has been carrying out rentals of temporary equipment centering on Ibaraki Prefecture as a subsidiary of
Slide 6: Consolidated Financial Results (Cumulative Period)
Consolidated Financial Results (Cumulative Period) Q3 FY Ending March 31, 2017 Q3 FY Ending March 31, 2017 Results for Q3 of previous fiscal year Consolidated Results Forecast (non-disclose) Results (Q3 FY Ended March 31, 2016) % change (Unit: million yen) (YoY) Sales ratio Sales ratio Sales ratio N
Slide 7: Change in Financial Results
Change in Financial Results （Unit：million yen） Net sales Operating income 34,261 34,350 32,443 3,051 3,098 8,783 2,983 8,828 26,980 8,716 737 946 995 4Q 8,764 9,460 9,072 9,122 806 3Q 942 861 2Q 9,377 796 8,436 9,010 1Q 7,728 1,121 769 872 693 6,877 7,925 7,791 8,142 394 434 253 272 FY ended FY ende
Slide 8: Change in SG&A expenses
Change in SG&A expenses (Unit: million yen) Personal Expenses Rents Depreciation Advertising expenses Others SG&A expenses ratio 25.9% 24.2% 24.3% 22.6% 20.9% 7,758 6,828 6,590 2,137 2,091 1,660 163 95 495 75 452 397 1,127 903 4,252 776 1,179 2,110 239 48 535 4,217 4,385 548 3,873 110 25 280 2,250 1
Slide 9: Change in SG&A expenses
Change in SG&A expenses (unit：million yen) Personal Expenses Rents Depreciation Advertising expenses Others SG&A expenses ratio 25.9% 24.2% 24.3% 23.7% 22.6% 20.9% 7,758 6,828 6,590 2,137 2,091 6,386 1,660 163 95 495 452 1,780 75 1,127 397 903 4,252 776 353 75 1,179 800 2,110 239 48 535 4,217 4,385
Slide 10: Change in Consolidated Balance Sheet
Change in Consolidated Balance Sheet Investments and other assets Intangible assets Property, plant and equipment Current assets Net assets Non-current liabilities Current liabilities 50,091 50,817 【Assets】 Current assets (Unit: million yen) Decrease in work in process : 320 million yen 43,520 Other
Slide 11: Revised business segment
Revised business segment Before revision After revision Rental business Rental business • SRG TAKAMIYA • SRG TAKAMIYA • IWATA • IWATA Rental division Rental division • SHINKEN • SHINKEN • TATSUMI • TATSUMI NAGAKITA NAGAKITA* • SN Builtech • TOTAL TOSHISEIBI • SN Builtech • TOTAL TOSHISEIBI • AOMORI
Slide 12: Rental Business (Per Quarter)
Rental Business (Per Quarter) Fiscal Year Ended March 31, 2016 Fiscal Year Ending March 31, 2017 (Unit：million yen) Segment sales Segment profit Segment profit margin (%) 6,173 5,440 5,449 5,538 5,134 5,011 4,489 14.5% 15.8% 15.5% 5.8% 12.3% 13.3% 859 843 7.5% 678 823 262 747 377 % change (YoY) 1Q 2
Slide 13: Rental Business: Ratio of Sales by Block
Rental Business: Ratio of Sales by Block FY Ended March 31, 2016 Q3 FY Ending March 31, 2017 3.4% 3.6% 14.9% Tohoku 5.2% Kanto 43.2% 35.0% 36.6% Chubu Kansai 38.4% Kyushu 8.4% 11.4% [Example of sites with orders received] • Repair of the Power plant • Renovation of public housing • Renovation of a h
Slide 14: Rental business: Iq System, trend in rental sites and holding amounts
Rental business: Iq System, trend in number of rental sites and holding amounts Rental asset investment proceeded according to plan, rental business results steadily increased, and level of recognition increased. Trend in total number of rental sites 3,500 Even though the holding amount has increase
Slide 15: Rental Business: Change in Shipment Value of Rental Equipment
Rental Business : Change in Shipment Value of Rental Equipment Iq system pulls it, and the shipment maintains a high level. A rental for engineering works is expected to contribute to achievements for the second half year. Shipment value of Shipment value of rental equipment rental equipment (Apr.)
Slide 16: Sales Business (Per Quarter)
Sales Business (Per Quarter) Fiscal Year Ended March 31, 2016 Fiscal Year Ending March 31, 2017 Segment sales (Unit: million yen) Segment profit Segment profit margin (%) 4,611 4,011 3,957 4,148 3,747 3,652 11.7% 10.6% 14.3% 8.5% 6.8% 9.0% 729 359 564 351 386 255 % change (YoY) Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 17: Sales Business (Per Quarter)
Sales Business (Per Quarter) Fiscal Year Ended March 31, 2016 Fiscal Year Ending March 31, 2017 （単位：百万円） Segment sales Segment profit Segment profit margin (%) 4,611 4,148 4,185 4,011 3,957 14.3% 3,747 3,652 15.8% 9.0% 8.5% 12.9% 6.8% 10.6% 564 386 729 541 359 255 351 % change (YoY) 1Q 2Q 3Q 4Q 1Q 2
Slide 18: Net Sales by Field
Net Sales by Field (Unit: million yen) 1,354 2,012 843 11,657 324 672 463 2,689 Q4 344 501 2,881 286 Q3 2,689 288 428 515 Q2 2,539 3,336 392 406 553 550 319 473 Q1 2,982 2,597 294 234 438 485 297 336 FY Ended March FY Ending March FY Ended March FY Ending March FY Ended March FY Ending March FY Ende
Slide 19: Sales business: status of spread of Iq System
Sales business: status of spread of Iq System Large orders are decided, and the full-year sales plan is expected to be achieved. The spread of Iq system is proceeding. Iq System ratio relative to conventional Increase in number of square meters of Iq System (Unit: 10,000 m2) 371 construction scaffol
Slide 20: Overseas Business (Per Quarter)
Overseas Business (Per Quarter) Fiscal Year Ended March 31, 2016 Fiscal Year Ending March 31, 2017 (Unit : million yen) Segment sales Segment profit Segment profit margin (%) 1,333 1,142 1,161 1,169 1,006 930 997 5.5% 7.2% -2.5% -3.2% 2.1% -2.0% -8.2% 23 73 84 (2) (25) (76) (31) % change (YoY) 1Q 2Q
Slide 21: Overseas Business
Overseas Business Hory Korea Co., Ltd. Sales Ratio by Segment • Focused on expanding domestic sales in South Korea 5.6% • Promoted the introduction of the Iq System • Maintenance of rental business structure • Decrease in solar panel mount sales 33.3% Q3 FY Ending March 31, HORY VIETNAM Co., Ltd. 20
Slide 22: FY Ending March 31, 2017 Consolidated Financial Results Forecast
FY Ending March 31, 2017 Consolidated Financial Results Forecast (Cumulative Period) (Unit: million yen) Full Year Sales Ratio Net sales 38,800 － Operating income 3,380 8.7% Ordinary income 3,100 8.0% Net income 1,950 5.0% Net income per share ¥44.60 22
Slide 23: Future Outlook
Future Outlook Shipments of rental equipment for construction work will remain brisk, while shipments of rental equipment for civil engineering work will be on an improvement trend. Sales of the Iq system, orders for large orders have been decided. An expressway, a bridge, repair work of the p
Slide 24: Payment of Dividends
Payment of Dividends 2-for-1 stock-split, April 2013 2-for-1 stock-split, January 2015 Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year Ending March March 31, 2013 March 31, 2014 March 31, 2015 March 31, 2016 31, 2017 (Forecast) Dividend ¥20 ¥13 ¥16 ¥10 ¥10 Breakdo
Slide 25: Reference materials
Reference materials 25
Slide 26: 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 27: 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 28: Change in Domestic Construction Investment
Change in Domestic Construction Investment Source : The Ministry of Land, Infrastructure, Transport and Tourism Data release : July 2016 FY Ended March 31, 2016: Down 0.6% FY Ending March 31, 2017: Up 1.6% (Forecast) 51,298 51,240 50,950 51,770 45,291 43,292 12,948 14,160 14,960 15,310 Private non-h
Slide 29: Change in Domestic Construction Investment
Change in Domestic Construction Investment Focusing on the metropolitan area, private construction that is frequently used for scaffolding, renovation and renovation are expected to lead the way Government investment Private investment Renovation and renewal investment （Unit：billion yen） 35,000 30,0
Slide 30: Change in Overseas Market
Change in Overseas Market (Billion dollars) (Million people) 2010 2011 2012 2013 2014 2015 2016 Actual GDP 1,094 1,202 1,223 1,306 1,410 1,376 1,321 South Korea Population 49 50 50 50 50 51 51 Actual GDP 341 371 397 420 404 395 410 Thailand Population 67 68 68 68 69 69 69 Actual GDP 113 135 156 171
Slide 31: Utilization rate of construction materials and equipment, 50 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) Net sales Framework Scaffolding Falsework Members 80 25,000 70 20,000 60 50 15,000 40 30 10,000 20 5,000 10
Slide 32: Change in Consolidated Balance Sheet
Change in Consolidated Balance Sheet FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, (Unit: million yen) 2011 2012 2013 2014 2015 2016 Current assets 10.396 12,202 13,725 15,892 18,213 19,769 Non-current assets 19,198 20,269 20,262 21
Slide 33: Change in Consolidated Financial Results
Change in Consolidated Financial Results FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, FY Ended March 31, (Unit: million yen) 2011 2012 2013 2014 2015 2016 Net sales 17,490 23,201 28,113 32,443 34,261 34,350 Gross Profit 5,981 7,202 8,196 9,832 10,356
Slide 34: Quarterly Change in Results by Segment (Cumulative Period)
Quarterly Change in Results by Segment (Cumulative Period) (Unit: million yen) Fiscal Year Ended March 31, 2016 Fiscal Year Ending March 31, 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 4Q Rental Segment sales 4,489 9,623 15,064 20,513 5,011 10,549 16,723 ― business (Of which) Inter-segment sales 22 56 88 109 59 188 2
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, 2016 Fiscal Year Ending March 31, 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 4Q Rental Segment sales 4,489 5,134 5,440 5,449 5,011 5,538 6,173 ― business (Of which) Inter-segment sales 22 34 31 20 59 128 49 ― Segment
Slide 36: Stock Price of SRG TAKAMIYA (2445:Tokyo)
Stock Price of SRG TAKAMIYA (2445:Tokyo) Average daily trading volume Stock price 600,000 1,200 • January 2015: 2-for-1 stock-split • July 2013: Disposal of treasury shares • April 2013: 2-for-1 stock-split 500,000 1,000 Aug. 2016 Treasury stock acquisition 400,000 800 300,000 600 200,000 400 100,00
Slide 37: Contact IR
Contact IR Contact: Takashi Kawabata, PR / IR Section, Corporate Planning Division, SRG TAKAMIYA Co., Ltd. Phone: +81-(0)6-6375-3918 Fax: +81-(0)6-6375-8827 URL: https://www.srg.jp/en/index.html (English) https://www.srg.jp/en/ir/index.html (English) E-mail: ir@srg.jp Address: Grand Front Osaka, Tow