Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Tokyu Land — Q1 FY2010 Earnings Presentation
17 slides from Tokyu Fudosan's earnings presentation, August 2010
Slide 1: Financial Highlights FY2010 First Quarter
Financial Highlights FY2010 First Quarter (First Three Months) Ended June -30, 2010 June-30, Tokyu Land Corporation
Slide 2: Forward-looking statements
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: FY2010 Q1 and FY2010 Forecast
FY2010 Q1(First (First Three Months) and FY2010 Forecast Three Months) ◇ Compared to the same period last year: Operating profit increased due to increased revenues of condominium units sold and a significant decrease in loss on valuation of inventories. （\ billion） Q1 First Three Months Full-year (
Slide 4: FY2010 Q1 Segment performance
FY2010 Q1(First (First Three Months) Segment performance Three Months) ◇ Real Estate Sales: Increase in revenues and profit due to increase in recording of sales of condominium units, improvement of gross profit margin ratio and significant decrease in loss on valuation. (Compared to the same period
Slide 5: Leasing of Real Estate(1)
Leasing of Real Estate(1) FY2010 Q1(First (First Three Three Months) Months) ◇ Ｑ1: ¥1.6 billion decrease in profit due to buildings sold in the previous fiscal year, deterioration of existing buildings and increase in development expenses. ◇ FY2010: Due to a sharp decline in dividends from the sale
Slide 6: Leasing of Real Estate(2) New projects
Leasing of Real Estate(2) New projects Floor space Projects (1,000㎡) Open Shibuya Place （Owned） 4 Aug-09 09 Saclass Totsuka (Subleased) 48 Nov-09 Totsuka Tokyu Plaza （Owned） ※ 71 Apr-10 Kasumigaseki Tokyu Building (SPC) 19 2010 10 FutakoTamagawa Rise （Owned,Share 30%） 107 2010 Osaka Komatsubara (SPC
Slide 7: Leasing of Real Estate(3) Vacancy Rate and Rent
Leasing of Real Estate(3)Vacancy Rate and Rent [Parent company] As of June-30,2010 Vacancy rate 2.0% Vacancy rate : Tenants actually moving in and out, including SPCs, SPCs, Office buildings and commercial facilities (\thousand/Month/Tsubo ) ％ Tsubo ≒3.3㎡ 12.0 \25,410 30.0 \24,770 \24,010 11.1 \23,9
Slide 8: Leasing of Real Estate(4) Distribution of Office Buildings
Leasing of Real Estate(4) Distribution of Office Buildings Office Buildings : As of Mar-31, 2010 Floor space 547 thousand ㎡, Total of 66 buildings ［Area] ［Completed year] Metropolitan 4districts：450 thousand ㎡(82%) After 2001：306 thousand ㎡(56%) 21 buildings 46 buildings 8% 4% 13% 3% 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 ¥882billion Total of 62 SPCs Note）As of June-30, 2010 〈¥882billion〉 〈62〉 below〈 〉 As of Mar-31, 2010 （¥ bil
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 ￥398 ￥398 billion billion breakdown) breakdown) June-30, June-30, 2010 2010 【thou san d ㎡】 Ope n Ch iyoda- ku Cyu o- ku Min ato- ku Sh ibu ya-ku Othe rs Hat c h o bo r i To kyu Si n agawa Plac e 01 【6】 （'93
Slide 11: Real Estate Sales(1) FY2010 Q1
Real Estate Sales(1) FY2010 Q1(First (First Three Three Months) Months) ◇ Ｑ1: Increased revenues of condominium units sold (Futako Tamagawa Rise Tower, etc.), improvement of gross profit margin ratio and significant decrease in loss on valuation. ◇ FY2010: Recovery in the number of condominium units
Slide 12: Real Estate Sales(2) Outline of plan
Real Estate Sales(2) Outline of plan ※1 Includes block-sale properties ◇Condominiums ※2 Excludes block-sale properties FY2007 FY2008 FY2009 FY2010 Forecast No. of units sold Total 3,288units Total 2,473units Total 2,189units Total 2,514units ※1 Revenue 120.6 92.7 83.7 107.0 (\billion) from the previ
Slide 13: Real Estate Sales(3) Land for condominium sales
Real Estate Sales(3) Land for condominiums sales [Parent company] ◇Land for condo-sales, Book Value ¥75.3 billion （Parent・As of June-30, 2010） Book value for acquisition at each fiscal year Book value for regional distribution （As of June-30, 2010） （As of June-30, 2010） \（Billion） As of Mar.2009 ¥(B
Slide 14: Real Estate Sales(4) New supply
Real Estate Sales(4) New supply Branz Aobadai 2chome （Yokohama-shi） Branz Shinonome （Koto-ku） Complete Oct-2011 Total 63 units Share 100% Complete Mar-2012 Total 144 units Share 100% Branz Ikebukuro Rikkyo Minami （Toshima-ku） Branz Minami Yukigaya （Ota-ku） Complete Apr-2011 Total 40 units Share 100%
Slide 15: Facility Operations(1) FY2010 Q1
Facility Operations(1) FY2010 Q1(First (First Three Three Months) Months) ◇ Ｑ1: Operating revenue increased due to resorts newly put in operation, income declined due to lower membership sales and an increase in opening costs for facilities, etc. ◇ FY2010: Operating revenue is forecasted to increase
Slide 16: Facility Operations(2) New Projects
Facility Operations(2) New Projects [ ]No. of total rooms FY2006 FY2006 FY2007 FY2007 FY2008 FY2008 FY2009 FY2009 NO.20 NO.20 Nasu Nasu [144] [144] NO.21 NO.21 Kyu-KaruizawaANX Kyu-KaruizawaANX [26] [26] NO.22 NO.22 VIALA VIALA Hakone Hakone [70] [70] NO.23 Arima rokusai NO.23 Arima rokusai [107] [1
Slide 17: Other Segments FY2010 Q1
Other Segments FY 2010 Q1(First (First Three Three Months) Months) （\ billion） First Quarter First Three Months FY2009 FY2010 Comparison Progress Contracted Construction Oprating revenue 9.6 9.4 (0.3) 14.6% Operating income (1.6) (1.0) 0.6 － Retail Sales Oprating revenue 19.0 17.5 (1.5) 22.7% Operat