Takamiya Co., Ltd. · TSE:2445
Takamiya — SRG TAKAMIYA — Q3 FY2019 Earnings Presentation
41 slides from Takamiya's earnings presentation, Feb 25, 2019
Slide 1: Results Briefing Materials for the Third Quarter of FY Ending March 31, 2019
Results Briefing Materials for the Third Quarter of the Fiscal Year Ending March 31, 2019 February 25, 2019 Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the o
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 731,097,900 yen Number of employees Consolidated : 1,210; Non-consolidated : 675(As of end-December, 2018) Register
Slide 3: Company name change
Company name change Notice of changes in trade name and logo The Company has set out its vision as "Create new value through transformation and aim to become a corporate group that drives qualitative development of the industry", and decided to change its trade name to "TAKAMIYA Co., Ltd. " effectiv
Slide 4: History
History • 1969 June Founded as Shin Kansai Co., Ltd., currently SRG TAKAMIYA CO., LTD., in Osaka City. • 1998 Apr. Established Techno Kobo Ltd. (currently Cadian Co., Ltd., a consolidated subsidiary) in Osaka City. • 2004 Oct. Established HIRAMATSU Co., Ltd. (currently a consolidated subsidiary) in
Slide 5: Business Diagram
Business Diagram Overseas business Sale・Rental・Construction temporary equipment manufacturers, trade firms, etc.) housing manufacturers, agricultural corporations, etc.) Purchase Hory Korea Co., Ltd HORY VIETNAM Co., Ltd. Sale Sale・ Rental・Construction DIMENSION-ALL INC. Suppliers (raw materials man
Slide 6: 1. TOPIX
1. TOPIX Notice Regarding Movement of Officers Notice Regarding Allocation of Extraordinary Loss Feb. 1, 2019 Notice Regarding Movement of Officers Feb. 8, 2019 Notice Regarding Allocation of Extraord inary Loss February 25, 2019 Page 6
Slide 7: 2. Consolidated Financial Results (Cumulative Period)
2. Consolidated Financial Results (Cumulative Period) 3Q FY Ending March 31, 2019 3Q FY Ending March 31, 2019 3Q FY Ended March 31, 2018 Consolidated Results Results % change Forecast Results （Unit：million yen） Sales ratio Sales ratio Sales ratio (YoY) Net sales － － 31,869 － 26,924 － +18.4% Gross pr
Slide 8: 3.1 Comparison with the previous year: Net sales
3. Comparison with the previous year 3.1 Net sales Increased by 4,945 million yen. （Unit：million yen） Despite decrease in inter-segment 35,000 Net sales transaction of sales-related business, +1,306 +2,173 external sales showed steady growth. 30,000 +1,426 Equipment utilization remained at +40 high
Slide 9: 3.2 Comparison with the previous year: Operating income
3. Comparison with the previous year 3.2 Operating income （Unit：million yen） Increased by 614 million yen. Operating income Increased external sales in the sales 2,500 business segment, and growing revenues from rental fees in the +436 (33) +4 rental business segment due to 2,000 steady growth of ex
Slide 10: 4. Sales business
4. Sales business 4.1 Comparison with the previous year Net sales Increased by 40 million yen. Net sales Segment profit While inter-segment transactions ＋197 decreased due to merging Hory Corp. 10,040 ＋1,412 10,081 +12 that had previously been one of the 137 group companies, sales strategies for 1,8
Slide 11: 4.2 Net Sales by Field
4. Sales business 4.2 Net Sales by Field Agri-business in the environment related business showed more than double growth as compared to the previous year. 8,518 1,736 1,675 1,384 6,884 4Q 498 1,715 2,007 3Q 291 964 2,647 2Q 2,898 423 356 1Q 2,772 524 1,979 355 FY Ended March 31, FY Ending March 31,
Slide 12: 4.3 Recent prevalence of the Iq System
4. Sales business 4.3 Recent prevalence of the Iq System Demands for the next-generation scaffolding got into full swing, and sales strategies contributed to positive outcome. Currently the Iq-System accounts for about 30% (internal investigation). （Unit：million yen） Sales performance of the Iq syst
Slide 13: 5. Rental Business
5. Rental Business 5.1 Comparison with the previous year Net sales Increased by 1,426 million yen. Net sales Segment profit Shipment for civil engineering related projects maintained steady growth, also ＋1,133 ＋293 driven by demands for the Iq System, and +761 (324) more shipment of rental equipment
Slide 14: 5.2 Trend of average equipment utilization rates
5. Rental Business 5.2 Trend of average equipment utilization rates Shipped amount of equipment for building and civil engineering projects increased by 17.4% and 43.8%, respectively as compared to the same period of the previous year. average equipment utilization rates 74.7% 70.5% 68.0% 67.4% 64.0
Slide 15: 5.3 Ratio of Sales by Area
5. Rental Business 5.3 Ratio of Sales by Area Proportions changed due to the fact that net sales in Kanto block stayed still whereas in Kansai/Chubu blocks those for civil engineering related construction work increased. FY Ended March 31, 2017 FY Ended March 31, 2018 3Q FY Ended March 31, 2019 3.6%
Slide 16: 5.4 Transitions of depreciation and investment
5. Rental Business 5.4 Transitions of depreciation and investment Investment in assets for rent passed a peak, which will shift to payback period. Investment in scaffolding for repair work of expressways and consumable supplies will continue. Depreciation Investment in assets for rent, General inves
Slide 17: 6. Overseas business
6. Overseas business 6.1 Comparison with the previous year Net sales Increased by 2,173 million yen. Net sales Segment profit During the 2Q, Hory Korea achieved +102 (135) higher revenues thanks to order- ＋1,937 ＋236 taking for large-scale solar-related projects, as well as slight increase in revenu
Slide 18: 6.2 Sales Ratio by Segment
6. Overseas business 6.2 Sales Ratio by Segment Overseas proportion of net sales has constantly become greater. The current period has seen significant increase thanks to order-taking for large-scale solar-related projects in Korea. Overseas Overseas Overseas Business Business Business 14.7% 13.0% S
Slide 19: 7. Change in Consolidated Balance Sheet
7. Change in Consolidated Balance Sheet Equity ratio is 25.2% (up 0.2% YoY). Investments and other assets Intangible assets Property, plant and equipment Current assets 【Assets】 Net assets Non-current liabilities Current liabilities 52,760 52,813 54,323 Current assets Cash & Deposit ：5,374 million y
Slide 20: 8.1 Three-year performance: Sales business
8. Three-year performance 8.1 Sales business Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ending March 31, 2019 （Unit：million yen） Segment sales Segment profit Segment profit ratio 4,611 4,185 3,652 4,040 3,887 3,631 3,764 3,439 15.8% 17.3% 2,522 2,877 15.1% 10.6% 12
Slide 21: 8.2 Three-year performance: Rental Business
8. Three-year performance 8.2 Rental Business Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ending March 31, 2019 （Unit：million yen） Segment sales Segment profit Segment profit ratio 6,173 5,908 6,308 5,011 5,538 5,490 5,230 5,228 5,610 5,312 5,279 12.3% 13.3% 11.7% 1
Slide 22: 8.3 Three-year performance: Overseas business
8. Three-year performance 8.3 Overseas business Fiscal Year Ended March 31, 2017 Fiscal Year Ended March 31, 2018 Fiscal Year Ending March 31, 2019 （Unit：million yen） Segment sales Segment profit Segment profit ratio 1,913 1,991 2,028 2,071 1,263 1,389 1,405 1,006 930 997 1,123 5.6% 3.7% (0.4)% 0.4%
Slide 23: 10. FY Ending March 31, 2019 Consolidated performance forecast
10. FY Ending March 31, 2019 Consolidated performance forecast（Cumulative period） As with the 2Q, every business segment has maintained steady growth. This is also anticipated for the 4Q. FY Ending March 31, 2019 （Reference） FY Ended March 31, 2018 % change % change （Unit：million yen） 3Q 4Q Results
Slide 24: 11. Status of shareholder return
11. Status of shareholder return Dividend return policy: To return dividends to shareholders in accordance with the revenue, while maintaining stable dividend level FY Ending March 31, 2019 FY Ended March 31, 2016 FY Ended March 31, 2017 FY Ended March 31, 2018 (Forecast) Dividend 10 yen 10 yen 11 y
Slide 25: Reference materials
Reference materials February 25, 2019 SRG TAKAMIYA Co., Ltd. Grand Front Osaka, Tower B, 27F, 3-1 Ofuka-cho, Kita-ku, Osaka 530-0011, Japan
Slide 26: 1. Sales business: Product
1. Sales business 1.1 Product Joint(clamp) Next generation scaffolding Hanging type scaffolding Safety member Construction-related Construction-related Construction-related Construction-related General-purpose equipment used in New scaffolding with high safety Walking panel hung with chains, Precedi
Slide 27: 2. Sales business: Corresponding construction field
2. Sales business 2.1 Corresponding construction field Architecture Bridge Underground work Plant High-rise buildings, high-rise Expressways, railroads, elevated Shield tunneling construction such as Construction and maintenance of condominiums, warehouses, highways, bridges, etc. subways, pipe line
Slide 28: 3. Overseas business: bases and business activities
3. Overseas business 3.1 Overseas bases and business activities Hory Korea Co.,Ltd HORY VIETNAM Co.,Ltd DIMENSION-ALL INC. * The Philippines Carrying out manufacture/sales/rental of Carrying out manufacture of clamps for Carrying out sales/rental of formwork and temporary equipment for construction
Slide 29: 4. Quarterly Change in Results by Segment (Per Quarter)
4. Quarterly Change in Results by Segment (Per Quarter) （Unit：million yen） FY Ended March 31, 2018 FY Ending March 31, 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales business Segment sales 3,887 3,631 2,522 2,409 2,877 3,764 3,439 － (Of which) Inter-segment sales 2,804 2,902 2,531 2,428 2,853 3,702 3,388 － Segm
Slide 30: 5. Quarterly Change in Results by Segment (Cumulative Period)
5. Quarterly Change in Results by Segment (Cumulative Period) （Unit：million yen） FY Ended March 31, 2018 FY Ending March 31, 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Sales business Segment sales 3,887 7,518 10,040 12,449 2,877 6,641 10,081 － (Of which) Inter-segment sales 2,804 5,707 8,239 10,667 2,853 6,555 9,
Slide 31: 6. Change in Financial Results
6. Change in Financial Results Net sales Operating income 9,783 9,190 8,828 8,783 737 995 11,135 4Q 667 9,460 9,049 806 3Q 9,072 8,764 861 299 919 2Q 11,028 796 1Q 9,010 9,377 9,114 586 8,436 1,121 872 693 831 545 7,925 7,791 8,142 8,761 9,705 434 253 272 259 255 FY Ended March FY Ended March FY End
Slide 32: 7. Change in Consolidated Financial Results
7. 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, FY Ended FY Ended FY Ended FY Ended FY Ended March 31, 2008 2009 2010 2011 2012 2013 March 31, 2014 March 31, 2015 March 31, 2016 March 31, 20
Slide 33: 8. Change in Consolidated Balance Sheet
8. 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, FY Ended March 31, FY Ended March 31, FY Ended March 31, 2012 FY Ended March 31, 2013 FY Ended March 31, 2018 (Unit:million yen) 2008 2009 2010 20
Slide 34: 9. Change in Domestic Construction Investment
9. Change in Domestic Construction Investment * Source: Research Institute of Construction and Economy, "Quarterly Outlook of Construction and Macro Economy", Jan 2019 2018 Up 1.5％ 2019 Up 2.4％(Forecast) 568,400 582,200 560,200 535,700 512,984 511,410 509,828 432,923 452,914 169,900 176,900 177,300
Slide 35: 10. Changes in invested amount for domestic building reform/renewal
10. Changes in invested amount for domestic building reform/renewal * Source: Ministry of Land, Infrastructure Transport and Tourism, "Estimate of Construction Investment, FY2018", Jun 2018 Up 4.1％ YoY 127,000 131,000 125,800 117,800 110,200 99,300 38,400 39,300 41,500 90,300 40,500 83,500 84,800 77
Slide 36: 11. Change in Domestic Construction Investment
11. Change in Domestic Construction Investment * Source: Ministry of Land, Infrastructure Transport and Tourism, "Estimate of Construction Investment, FY2018", Jun 2018 Government investment Private investment Renovation and renewal investment （Unit：billion yen） 400,000 341,100 350,000 329,800 311,9
Slide 37: 12. Change in utilization rate of construction materials and equipment
12. 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
Slide 38: 13. Change in Overseas Market
13. Change in Overseas Market (Billion dollars) Country (Million people) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Nominal GDP 6,203 5,155 4,850 4,394 4,949 4,872 5,167 5,362 5,498 5,641 Japan Population 127 127 127 126 126 126 126 126 125 125 Nominal GDP 1,222 1,305 1,411 1,382 1,411 1,498
Slide 39: 14. Stock Price of SRG TAKAMIYA (2445:Tokyo)
100,000 200,000 300,000 400,000 500,000 600,000 0 Jan-09 May-09 Sep-09 Jan-10 Average daily trading volume May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 14. Stock Price of SRG TAKAMIYA (2445:Tokyo) Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Jan-17 M
Slide 40: 15. IR Contact
15. IRコンタクト 社名 ： SRG TAKAMIYA Co., Ltd. Grand Front Osaka, Tower B, 27F, 3-1 住所 ： Oofuka-cho, Kita-ku, Osaka, 530-0011, Japan URL ： https://www.takamiya.co/en/ (For Investor) ： https://www.takamiya.co/ir/ Japan Phone ： +81-(0)6-6375-3918 FAX ： +81-(0)6-6375-8827 CONTACT ： Takashi Kawabata, PR / IR S
Slide 41: SRG Takamiya
G SRG Takamiya SUPER RENTAL GROUP.