Takamiya Co., Ltd. · TSE:2445
Takamiya — Q3 FY2022 Earnings Presentation
48 slides from Takamiya's earnings presentation, February 2022
Slide 1: Results Briefing Materials for the Third Quarter of the Fiscal Year Ending March 31, 2022
Results Briefing Materials for the Third Quarter of the Fiscal Year Ending March 31, 2022 Takamiya Co., Ltd. (2445:Tokyo) Notice: This document is an excerpt translation of the original Japanese Grand Front Osaka Tower-B Bldg. 27F, document and is only for reference purposes. 3-1, Ofuka-cho, Kita-ku
Slide 2: Agenda
Agenda ◼ Topics ◼ Description of consolidated performance of the fiscal year ended December 31, 2022 ◼ Prospects and strategies for the future 2021/08/05 Page 2
Slide 3: Topics
Topics Jan.12,2022 Notice regarding the transition to the new market category "Prime Market" Feb. 1, 2022 Notice of Change of Directors In addition to the above, various releases and IR information can be viewed on our website. https://www.takamiya.co/en/ 2021/08/05 Page 3
Slide 4: Company Overview of Takamiya Co., Ltd.
Company Overview of Takamiya Co., Ltd. Trade name Takamiya Co., Ltd. Incorporation June 21, 1969 Representative Representative director, Kazumasa Takamiya Capital 1,052 million yen Number of employees Consolidated : 1,223; Non-consolidated : 718 (As of the end December 2021) Registered head office G
Slide 5: Summary of consolidated performance: Business overview
1. Summary of consolidated performance 1.1 Business overview ✓ In the sales business segment, new orders for the Iq System and repeat orders including peripheral equipment were firm, resulting in higher sales and profits. ✓ In the rental business segment, Although the Iq System has the highest utili
Slide 6: Summary of consolidated performance: Cumulative period
1. Summary of consolidated performance 1.2 Cumulative period (from April 1 to December 31,2021) 3Q FYE Mar. 31,2022 3Q FYE Mar. 31,2022 3Q FYE Mar. 31,2021 Consolidated Results % change Forecast Results Results （Unit：million yen） (Non-disclosure） Sales ratio Sales ratio Sales ratio (y/y) Net sales 2
Slide 7: Factors of increase/decrease in net sales and operating income
1. Summary of consolidated performance (April 1 – December 31, 2021) 1.3 Factors of increase/decrease in net sales and operating income (FY ended/ending March 31) Net sales (Unit : million yen) (Unit : million yen) 1,067 million yen increased (up 3.7% YoY) ✓ Sales increased in sales and overseas bus
Slide 8: EBITDA (Operating income + Depreciation)
1. Summary of consolidated performance (April 1 – December 31, 2021) 1.4 EBITDA (Operating income + Depreciation) (FY ended/ending March 31) (Unit : million yen) EBITDA 657 million yen decreased (down 12.6% YoY) ✓ Mainly due to decreased operating income. (12.6)% (y/y) ✓ Depreciation of rental asset
Slide 9: Performance by segment
1. Summary of consolidated performance (April 1 – December 31, 2021) 1.5 Performance by segment (FY ended/ending March 31) Segment Operating income Net sales (Segment operating profit margin) % change % change Unit : million yen 3Q FY2021 3Q FY2022 3Q FY2021 3Q FY2022 y/y y/y Sales 839 1,057 Busines
Slide 10: Sales business: Factors of increase/decrease YoY
2. Sales business 2.1 Factors of increase/decrease YoY Net sales: (Unit : million yen) (Unit : million yen) 2,058 million yen increased ✓ Sales of temporary equipment such as Iq System are strong. In the environment- related business, the agribusiness, including high-performance glass houses for agr
Slide 11: Sales business: Net sales by product field
2. Sales business 2.2 Net sales by product field Sales of Iq Systems were strong for temporary equipment, and second-hand sales also contributed. In the environment-related field, high-performance green houses are weak. Mounting devices of solar panel, 8,191 Iq System, G-Walk, etc. Agricultural gree
Slide 12: Sales of Iq System
2. Sales business 2.3 Sales of Iq System Sales of the Iq System Increased by 15.2% (up 351 million yen) YoY. Sales performance of Iq System 4,294 (Unit : million yen) Rapidly increase due to a large order 3,270 3,244 +15.2％ (y/y) 2,510 1,939 2,667 Iq System Cumulative sales 2,316 20.1 Billion yen 20
Slide 13: Number of companies selling Iq System
2. Sales business 2.4 Number of companies selling Iq System The number of Iq System sales destinations has steadily increased. Repeat demand is expected to increase as the number of sales destinations accumulates. Number of new Iq System sales companies / cumulative number of sales companies (Unit :
Slide 14: Prevalence of the Iq System
2. Sales business 2.5 Prevalence of Iq System The penetration of next-generation scaffolding into the industry is progressing steadily. (Unit：ten thousand ㎡) Prevalence of the Iq System (Our sales + Rental assets) 791 724 648 532 454 365 2017 2018 2019 2020 2021 3Q 2022 (FY ended/ending March 31) NO
Slide 15: Iq System market share
2. Sales business 2.6 Iq System market share Next-generation scaffolding and Iq System penetration in the industry is going well Scaffolding market share Market share of next-generation scaffolding Iq System About 11％ Traditional scaffolding About 70％ Other next Other next Iq System generation scaff
Slide 16: Rental business: Factors of increase/decrease YoY
3. Rental business 3.1 Factors of increase/decrease YoY Net sales: (Unit : million yen) (Unit : million yen) 1,250 million yen decreased Utilization rate remained high, mainly at maintenance and repair work sites in the Tokyo metropolitan area, including the Iq System.However, after the completion o
Slide 17: Trend of average utilization rates of rental assets
3. Rental business 3.2 Trend of average utilization rates of rental assets * Trend of utilization rates of rental assets looks like a mountain with its peak at the 3Q each year * Utilization rate = rented amount / overall holdings The utilization rate of Iq System remained high. However, the utiliza
Slide 18: Ratio of Sales by Area
3. Rental business 3.3 Ratio of Sales by Area In the Chubu Area, civil engineering-related works has been completed. In the Kanto Area, sales of maintenance and repair work in the Tokyo metropolitan area are steadily increasing . FY2020 FY2021 3Q FY2022 3.7% Tohoku 3.9% 13.5% 3.2%11.6% 10.8% Kanto C
Slide 19: Overseas business: Factors of increase/decrease YoY
4. Overseas business 4.1 Factors of increase/decrease YoY Net sales: 875 million yen increased (Unit : million yen) (Unit : million yen) In Korea Rental and sales increased. In Vietnam, sales to Japan are increasing. In the Philippines, outing and movement restrictions are continuing, and although h
Slide 20: Sales Ratio by Segment
4. Overseas business 4.2 Sales Ratio by Segment Overseas Overseas Overseas 15.0% 12.8% 14.8% Sales Sales Sales 31.4% 29.0% 31.3% 3Q FYE Mar 31,2020 FYE Mar 31,2021 FYE Mar 31,2022 Net sales Net sales Net sales 46,065 million yen 38,812 million yen 29,824 million yen Rental Rental Rental 53.6% 58.1%
Slide 21: Change in Consolidated Balance Sheet
5. Change in Consolidated Balance Sheet Total assets increased slightly and equity ratio is 31.7%, (end of the previous fiscal year: 32.3%) (FY ended/ending March 31) [Asset] (Unit : million yen) Investments and other assets Intangible assets Property, plant and equipment Current assets Current asse
Slide 22: Amendments to full term consolidated performance forecasts
6. Amendments to full term consolidated performance forecasts Amendments to full term consolidated performance forecasts * No change in the performance forecasts for the second half ("actual results in the first half + initial plan for the second half") Previous YoY “Reference” Forecast Revised Fore
Slide 23: Changes in number of shareholders and shareholder composition
7. Changes in number of shareholders and shareholder composition FYE Mar. 31, 2019 FYE Mar. 31, 2020 FYE Mar. 31, 2021 3Q FYE Mar.31 , 2022 Shareholders at the end of the period 2,923 4,092 3,463 3,639 Shareholder composition Government and local public entities 0.00 % 0.00 % 0.00 % 0.00 % Financial
Slide 24: Status of shareholder return
8. Status of shareholder return FYE Mar. 31, 2022 FYE Mar. 31, 2018 FYE Mar. 31, 2019 FYE Mar. 31, 2020 FYE Mar. 31, 2021 (Forecast) Dividend 11 yen 11 yen 14 yen 14 yen 14 yen 1Q － － － － － 2Q 4.0 yen 4.0 yen 6.0 yen 6.0 yen 6.0 yen 3Q － － － － － 4Q 7.0 yen 7.0 yen 8.0 yen 8.0 yen 8.0 yen Total amoun
Slide 25: Prospects for the future and Medium-Term Management Plan
Prospects for the future and Medium-Term Management Plan Takamiya Co., Ltd. (2445:Tokyo) Grand Front Osaka Tower-B Bldg. 27F, 3-1, Ofuka-cho, Kita-ku, Osaka 530-0011, Japan TEL：+81-6-6375-3900 FAX：+81-6-6375-8825
Slide 26: Environment analyses: Trends in orders for construction work
Prospects for the future | Environment analyses Trends in orders for construction work Year-on-Year comparison graph of order-taking for construction works (monthly) ✓ Orders from construction 40.00% companies, which are customers, are on the decline. 30.00% ✓ In the future, there will be large- 20.
Slide 27: Environment analyses: Domestic construction investment is strong
Prospects for the future | Environment analyses Domestic construction investment is strong Source: Created from "Construction Investment Outlook" announced in October 2021 by the Ministry of Land, Infrastructure, Transport and Tourism (Unit : billion yen) Domestic construction investment increased b
Slide 28: Environment analyses: Projects relating to our industry
Prospects for the future | Environment analyses Projects relating to our industry Domestic large-scale projects tend to be delayed/postponed, but meanwhile maintenance/repair of infrastructure (e.g. traffic infrastructure) are proceeding in many places. Hokuriku- Shin-Meishin Expo in TOKAI-KANJO Int
Slide 29: Assumptions at the beginning of the period and current situations
Prospects for the future | Assumptions at the beginning of the period and current situations Sales demand exceeds expectations, almost as expected at the beginning of the term . Prospects at the time of announcing the financial results Current situation ✓ Next-generation scaffolding is entering a pe
Slide 30: 2021 Medium-Term Management Plan: Vision and Profit Targets
2021 Medium-Term Management Plan Management Vision and Profit Targets Management Vision Create new value through transformation and aim for sustainable growth by becoming a partner to our customers. “Build a Stock-type business model (commission-based) .” Profit Targets Consolidated operating income
Slide 31: Steps to the point of achieving the de facto standard
Steps to the point of achieving the de facto standard 2014 Medium-Term 2018 Medium-Term 2021 Medium-Term Fiscal year ended Management Plan Management Plan Management Plan March 31, 2024 Build a Stock-type Introduction of Spread and Expansion Platform construction business model Iq System of Iq Syste
Slide 32: Stock-type business model provided by platform
Stock-type business model provided by platform (business foundation) Sharing the Takamiya Group business foundation with users and other providers Takamiya's platform (business foundation) Products / Services [Development and Manufacturing] [Sales] [Rental] [Design and installation] [Management and
Slide 33: Services provided by platform: Iq Sharing
Services provided by platform －Iq Sharing－ A new service that expands business opportunities by reducing the labor and cost of customer equipment operation and management. Services provided by Iq Sharing Iq • Shipment and return at sharing centers nationwide Sale Sales • Missing parts can be rented
Slide 34: Expanding customer benefits
Brush up the platform and expand customer benefits (customer competitiveness) Takamiya's platform (business foundation) <Five functions to provide (Five arrows)> [Development and Manufacturing] [Sales] [Rental] USER [Design and installation] [Management and Logistics] Takamiya (provider) We will bru
Slide 35: Platform brush-up case: measurement and 3DCAD
Platform brush-up case 3D measurement + BIM / CIM + construction Solving problems with "TAKAMIYA x Cadian" technology BIM / CIM support Cadian（Consolidated subsidiary） TAKAMIYA －measurement･3DCAD－ －Design and installation － Maintenance of aging BIM･CIM social capital stocks nationwide Platform Const
Slide 36: Takamiya Lab. West that makes the platform attractive
"Takamiya Lab. West" that makes the platform attractive Development base to evolve Takamiya's platform (business foundation) Purpose and role of Takamiya Lab. [Specific initiatives and services provided] A research and development base that develops, provides, Iq Sharing and demonstrates new technol
Slide 37: Improve profits on the platform
Improve profits on the platform The platform user pays the usage fee. Profit ← Usage fee from company C (Share fixed costs among platform users) ← Usage fee Profit from company B ⇒ Increased profit margin ← Usage fee Profit from company A Takamiya‘s ←Takamiya‘s business profit Profit Profit business
Slide 38: Development of a new revenue base
Development of a new revenue base As a platformer, we are developing a service that matches platform users. Aim for commission income according Mediator to the transaction amount (Takamiya) Commission Commission Platform Products / Services Payment Payment Provider USER USER (Takamiya) （Scaffolding
Slide 39: Build a platform and establish the de facto standard for Iq Systems
Build a platform and establish the de facto standard for Iq Systems • As the number of platform users increases, the amount of Iq System in circulation will increase. • Iq System and Takamiya’s platform become de facto standard in the temporary industry The number of square meters of framework scaff
Slide 40: Products that can meet the demand for infrastructure redevelopment
Products that can meet the demand for infrastructure redevelopment Products for maintenance/repairs and infrastructure redevelopment ・Panel-type hanging scaffolding system “SPIDER PANEL” ・Mast climbing work platform for large-scale repair works mainly on high-rise condominiums “Lift Climber” ・Can be
Slide 41: Business development other than temporary department
Business development other than temporary department Agri business Hanyu Aisai Project Agri Business Sales Trend G-Castle Neo48 Sale of high-performance green house Transfer of green house sales business 1,163 1,082 954 G-Castle ProⅠ 182 93 Inside "Hanyu Challenge Farm", Hanyu City, Saitama Prefectu
Slide 42: Redevelop overseas business bases
Redevelop overseas business bases Philippines：DIMENSION-ALL （Sale and rental of temporary equipment for construction）※FYE：Dec. ✓ Due to the effects of the new coronavirus infectious disease, measures to restrict going out and moving in urban areas will continue, and it will be difficult to recover b
Slide 43: Reference Information
Reference Information Takamiya Co., Ltd. (2445:Tokyo) Grand Front Osaka Tower-B Bldg. 27F, 3-1, Ofuka-cho, Kita-ku, Osaka 530-0011, Japan TEL：+81-6-6375-3900 FAX：+81-6-6375-8825
Slide 44: ESG information: IR
ESG information IR • Video streaming of Financial Results Briefing • Disclosure of English versions of Summary of Financial Results, Results Briefing Materials, and Timely Disclosure Release (partly) • Issuance and Web release of Integrated Report (Japanese/English) * 2021 version is available in Ja
Slide 45: ESG information: Human resource development
ESG information Human resource development Promoting "Human centered capitalism" style management and measures centered on Such information is publicized to human resources visitors on a large signage • Promoting in-house projects centered on mid-level/young employees • Incentive reward according to
Slide 46: Stock Price of TAKAMIYA (2445:Tokyo)
100,000 200,000 300,000 400,000 500,000 600,000 0 Jan-2009 May-2009 Sep-2009 Jan-2010 May-2010 Sep-2010 Jan-2011 Average daily trading volume May-2011 Sep-2011 Jan-2012 May-2012 Sep-2012 Jan-2013 May-2013 Sep-2013 Jan-2014 May-2014 Sep-2014 Stock Price of TAKAMIYA (2445:Tokyo) Jan-2015 May-2015 Sep-
Slide 47: Comparison of Share Price and Nikkei 225
Jun-2009 Oct-2009 Feb-2010 Jun-2010 Oct-2010 Feb-2011 Jun-2011 Nikkei 225 Oct-2011 Feb-2012 Jun-2012 Oct-2012 Feb-2013 Jun-2013 Takamiya Oct-2013 Feb-2014 Jun-2014 Oct-2014 Feb-2015 Jun-2015 Oct-2015 Feb-2016 Jun-2016 Oct-2016 Feb-2017 Jun-2017 Oct-2017 Feb-2018 Jun-2018 Oct-2018 Feb-2019 Jun-2019 O
Slide 48: IR contact
IR contact HP Company name ： Takamiya Co., Ltd. Grand Front Osaka, Tower B, 27F, Address ： 3-1 Oofuka-cho, Kita-ku, Osaka, 530-0011, Japan For Investor HP ： https://www.takamiya.co/en/ For Investor ： https://www.takamiya.co/en/ir/ CONTACT ： PR / IR Department Email ： ir@takamiya.co This material is