Takamiya Co., Ltd. · TSE:2445
Takamiya — FY2022 Earnings Presentation
56 slides from Takamiya's earnings presentation, Jun 2, 2022
Slide 1: Results Briefing Materials for the Fiscal Year Ended March 31, 2022
Results Briefing Materials for the Fiscal Year Ended 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, Osaka 530-0011, Japa
Slide 2: Agenda
Agenda ◼ Topics ◼ Description of consolidated performance of the Fiscal Year Ended March 31, 2022 ◼ Progress of “2021 Medium-Term Management Plan” ◼ Prospects for the future 2022/06/02 Page 2
Slide 3: Topics
Topics Mar. 18, 2022 Notice of Change of Directors Apr. 22, 2022 Notice regarding transition to a Company with Audit and Supervisory Committee and Change of directors May. 20, 2022 Notice regarding partial changes to the articles of incorporation May. 23, 2022 (Voluntary disclosure) Notice regarding
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 : 1,222; Non-consolidated : 722 (As of the end March 2022) Registered head office Gran
Slide 5: 1. Summary of consolidated performance
1. Summary of consolidated performance 1.1 Business overview ✓ In the first half of the year, new orders and repeat orders for the Iq System were strong in the sales business, and there was demand for price revisions in consideration of rising steel prices. In the overseas business, the economic rec
Slide 6: Summary of consolidated performance: cumulative period
1. Summary of consolidated performance 1.2 Cumulative period (from April 1 to March 31,2022) FYE Mar. 31,2022 FYE Mar. 31,2022 FYE Mar. 31,2022 FYE Mar. 31,2021 % Consolidated Results Forecast before correction Forecast Results Results change （Unit：million yen） Sales ratio Sales ratio Sales ratio Sa
Slide 7: Factors of increase/decrease in net sales and operating income
1. Summary of consolidated performance (April 1 – March 31, 2022) 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) 988 million yen increased (up 2.5% YoY) ✓ Sales increased in sales and overseas business
Slide 8: EBITDA
1. Summary of consolidated performance (April 1 – March 31, 2022) 1.4 EBITDA (Operating income + Depreciation) (FY ended/ending March 31) (Unit : million yen) EBITDA 64 million yen increased (up 16.2% YoY) ✓ The main factor is an increase in operating income. ✓ As for depreciation, rental asset depr
Slide 9: Performance by segment
1. Summary of consolidated performance (April 1 – March 31, 2022) 1.5 Performance by segment (FY ended/ending March 31) Segment Operating income Net sales (Segment operating profit margin) % change % change Unit : million yen FY2021 FY2022 FY2021 FY2022 (YoY) (YoY) Sales 1,404 1,633 11,990 13,629 +1
Slide 10: Sales business: factors of increase/decrease
2. Sales business 2.1 Factors of increase/decrease YoY Net sales: (Unit : million yen) (Unit : million yen) 1,639 million yen increased ✓ Sales of temporary equipment such as the Iq System were firm. ✓ In the environment-related field, sales of high-performance green houses for agriculture have been
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, sales of high-performance green houses were weak. Sales related to building materials decreased. 9,817 Mounting devices
Slide 12: Sales of Iq System
2. Sales business 2.3 Sales of Iq System Sales of the Iq System Increased by 8.0% (up 259 million yen) YoY. Sales performance of Iq System (Unit : million yen) Rapidly increase 4,294 due to a large order 3,504 3,270 3,244 2,510 1,939 +8.0％ Iq System Cumulative sales (YoY) 20.9 Billion yen ※Our sales
Slide 13: Number of sales destinations for Iq Systems
2. Sales business 2.4 Number of sales destinations for Iq Systems The number of sales destinations for Iq Systems has steadily increased. As the number of customers increases, repeat demand is expected to increase. Number of new Iq System sales companies / cumulative number of sales companies (Unit
Slide 14: Prevalence of Iq System
2. Sales business 2.5 Prevalence of Iq System The spread of next-generation scaffolding in the industry is firm (Unit：ten thousand ㎡) Prevalence of the Iq System (Our sales + Rental assets) 815 724 648 532 454 365 2017 2018 2019 2020 2021 2022 (FY ended/ending March 31) NOTE : This graph is made wit
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％ Iq System Traditional scaffolding Other next Other next About 36％ About 70％ genera
Slide 16: Rental business: factors of increase/decrease
3. Rental business 3.1 Factors of increase/decrease YoY Net sales: (Unit : million yen) (Unit : million yen) 725 million yen decreased ✓ The utilization rate of rental asset remained high mainly for maintenance and repair work in the Tokyo metropolitan area, including the Iq System. However, after t
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 While the Iq System remained at the highest utilization rate ever, th
Slide 18: Ratio of Sales by Area
3. Rental business 3.3 Ratio of Sales by Area The Kanto block is doing well, including maintenance and repair work in the Tokyo metropolitan area. Civil engineering-related work has been completed in the Chubu block. FY2020 FY2021 FY2022 3.7% Tohoku 3.9% 13.5% 3.2%11.6% 10.8% Kanto Chubu 26.6% 28.3%
Slide 19: Overseas business: factors of increase/decrease
4. Overseas business 4.1 Factors of increase/decrease YoY Net sales: 1,110 million yen increased (Unit : million yen) (Unit : million yen) ✓ Sales in South Korea increased. ✓ Sales of Vietnam to Japan increased. ✓ In the Philippines, outing and movement restrictions were being continued, but we were
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% 31.5% 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 39,800 million yen Rental Rental Rental 53.6% 58.1% 53.
Slide 21: Change in Consolidated Balance Sheet
5. Change in Consolidated Balance Sheet Equity ratio declined 31.8% (end of the previous term: 32.3%) (FY ended/ending March 31) [Asset] (Unit : million yen) Investments and other assets Intangible assets Property, plant and equipment Current assets Current assets Net assets Non-current liabilities
Slide 22: Cash flow statement
6. Cash flow statement Expenditure increased due to an increase in investment CF, but the cash balance increased due to a decrease in financial CF expenditure. (Unit : million yen) [Cash flows from operating activities] (Unit : million yen) FYE Mar.31, 2021 FYE Mar. 31,2022 Profit before income taxe
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 FYE Mar.31 , 2022 Shareholders at the end of the period 2,923 4,092 3,463 4,052 Shareholder composition Government and local public entities 0.00 % 0.00 % 0.00 % 0.00 % Financial in
Slide 24: Status of shareholder return
8. Status of shareholder return FYE Mar. 31, 2018 FYE Mar. 31, 2019 FYE Mar. 31, 2020 FYE Mar. 31, 2021 FYE Mar. 31, 2022 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 amount of divide
Slide 25: Progress of 2021 Medium-Term Management Plan
Progress of “2021 Medium-Term Management Plan” 2022/06/02 Page 25
Slide 26: Outline of Medium-Term Management Plan
9. Progress of Medium-Term Management Plan 9.1 Outline of Medium-Term Management Plan Create new value through transformation and aim for Management sustainable growth by becoming a partner to our customers. Vision “Build a Stock-type business model (commission-based) .” Consolidated operating incom
Slide 27: Performance trends
9. Progress of Medium-Term Management Plan 9.２ Performance trends (FY ended/ending March 31) Management Vision （Unit：Million yen） ➢ Create new value through transformation Net Sales Operating income Operating income margin and aim for sustainable growth by becoming a partner to our customers 8.0% 8.
Slide 28: Investment policy: capital investment and depreciation
9. Progress of Medium-Term Management Plan Original plan 9.３ Investment policy: Changes in capital investment and depreciation ✓ Depreciation expense for the fiscal Original plan Capital investment for the fiscal year ending March 2023: 3.9 billion yen Cumulative investment year ending March 2023: 5
Slide 29: Financial Policy
9. Progress of Medium-Term Management Plan 9.４ Financial Policy 【Target】 2021 Medium-Term Management Plan ◼ Equity ratio：35% ◼ ROA：6% 2021 2022 2024 ◼ ROE：12％ 【 achievement 】 Equity ratio 32.3% 31.8% 35.0% ✓ All financial policy goals have not been met. ROA 2.7% 3.4% 6.0% Equity ratio ✓ Decrease due
Slide 30: Develop services blending hardware and software
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System ◆ Hardware：Product strength Providing high-value-added temporary equipment that improves safety, workability, and workability at construction sites, centered on the "Iq System
Slide 31: Platform of Takamiya business foundation
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System Manufacturer function Product development Various Rental know-how products 70 billion yen Development / Manufacturing Agricultural rental assets green house Rental Sales TAKAM
Slide 32: Sharing business foundation with customers and providers
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System Share the Takamiya Group's business foundation with customers and other providers Takamiya's platform (business foundation) “Development / Manufacturing", “Sales", “Rental", “
Slide 33: Expand business areas: Iq Sharing
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System ◆ Expand business areas Iq Sharing If you deposit the purchased Iq System with Takamiya, ◆ Managed by Takamiya's 29 equipment supply bases throughout Japan ⇒No operating costs
Slide 34: Expansion of business scale
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System ◆ Expansion of business scale （Before）Selection of construction site according to the amount of equipment owned. ⇒By renting the shortage and necessary amount from Takamiya in
Slide 35: Expansion of business domain
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System ◆ Expansion of business domain （Before）The rental company provides rental services with the rental assets it owns. （From now on）Rental company turns into a lumber industry usi
Slide 36: Urban temporary equipment supply base Takamiya Lab. West
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System ◆ Urban temporary equipment supply base A research and development base that develops and provides new technologies and services to evolve the platform and enhance user conven
Slide 37: Reduction in travel time and waiting time
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System Takamiya Lab. West ◆ Significant reduction in travel time and waiting time ⚫ before 1 hour to the equipment Truck waiting time is 1 hour to the Transportation time for supply
Slide 38: Increase revenue on the platform
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System Increase revenue on the platform Share fixed costs with platform users ⇒ Increased profit margin Usage fee from C company Usage fee from B company Usage fee from A company Tak
Slide 39: Expected market size of next-generation scaffolding
9. Progress of Medium-Term Management Plan ①Develop services that blend hardware and software, with a focus on the Iq System • As the number of platform users increases, the distribution volume of Iq System will increase, and the Iq System and Takamiya platform will become the de facto standard in t
Slide 40: Transition of maintenance and repair work
9. Progress of Medium-Term Management Plan ②Strengthen products for, maintenance / repairs and infrastructure redevelopment Transition of maintenance and repair work (Unit : Trillion yen) 80 35% 70 28.4% 30% 13.8 60 13.2 14.0 13.5 25% 16.8 17.4 50 13.2 12.7 15.8 16.4 12.8 13.2 15.3 15.5 20% 13.0 13.
Slide 41: Hanging scaffolding sales performance
9. Progress of Medium-Term Management Plan ②Strengthen products for, maintenance / repairs and infrastructure redevelopment ◆ hanging scaffolding （SPIDER PANEL, V-MAX） Sales performance 105.3% increase from the same period of the previous year (+453 million yen) （Unit : million yen ） 883 SPIDER PANE
Slide 42: Nurture businesses beyond temporary equipment: Agri business
9. Progress of Medium-Term Management Plan ③Nurture businesses beyond the temporary equipment sector Agri business Sales performance of the G-Castle Neo48 Agri business Hanyu Aisai Project Sale of high-performance green house 1,273 Transfer of green house sales business 1,163 1,082 954 G-Castle ProⅠ
Slide 43: M&A to expand the Agri business
9. Progress of Medium-Term Management Plan ③Nurture businesses beyond the temporary equipment sector M&A to expand the Agri business company name Yame kaisei Co., Ltd. Established Established in 1962, in operation since 1961 Capital Stock 60 million yen Head office 1024 Ota, Hirokawa-cho, Yame-gun,
Slide 44: Redevelop overseas business bases
9. Progress of Medium-Term Management Plan ④Redevelop overseas business bases Philippines：DIMENSION-ALL INC. (Rental and sales of temporary equipment for construction) ※End of the fiscal year：December ✓ Although the severe situation continued in the current fiscal year due to the continued restricti
Slide 45: Prospects for the future
Prospects for the future 2022/06/02 Page 45
Slide 46: Forecast for the fiscal year ending March 2023
Prospects for the future / Forecast for the fiscal year ending March 2023 In the sales business, we will prepare a system to increase production of Iq System to meet the demand for next-generation scaffolding. The rental business is expected to steadily receive orders for construction and civil engi
Slide 47: Return to shareholders for the Fiscal Year Ending March 31, 2023
Prospects for the future / Return to shareholders for the Fiscal Year Ending March 31, 2023 ✓ Expected dividend amount 2020年 2023 2021 2022 similar to the previous term Forecast Concept of shareholder return Dividend 14.0 yen 1４.0 yen 14.0 yen 14.0 yen ✓ Improvement of corporate 1Q － － － － value and
Slide 48: Status of orders for construction work
Prospects for the future / Status of orders for construction work Orders from construction companies, which are customers, are on the decline Construction work orders received year-on-year 40.00% 30.00% 20.00% 10.00% 0.00% -10.00% -20.00% -30.00% Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020 2021年4月 2022/
Slide 49: Domestic construction investment is strong
Prospects for the future | Domestic construction investment is strong Source: Created from "Construction Investment Outlook" announced in April 2022 by the Ministry of Land, Infrastructure, Transport and Tourism (Unit : billion yen) 61,324 61,826 62,490 60,900 61,660 61,980 Construction investment i
Slide 50: Industry related projects
Prospects for the future | Industry related projects Large-scale projects in Japan tend to be delayed, and infrastructure maintenance and repairs such as transportation infrastructure are progressing in various places. Hokuriku- Shin-Meishin Expo in TOKAI-KANJO Integrated Resort in Osaka Osaka Monor
Slide 51: Reference Information
Reference Information 2022/06/02 Page 51
Slide 52: ESG information
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 53: ESG information
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 54: 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 55: 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 56: 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