Daito Trust Construction Co., Ltd. · TSE:1878
Daito Trust Construction — 3Q FY2007 Earnings Presentation
18 slides from Daito Trust Construction's earnings presentation, February 2008
Slide 1: 3Q Financial Highlights, Year ending March 2008
3Q Financial Highlights, Year ending March 2008 Index Ⅰ．3Q Financial Results, Year ending March, 2008・・・・・・・・ ３ Ⅱ．Orders Received , Tenant Recruitment and Completed construction sales・・・・・・・・・・・・・・・ １５ Ⅲ．Appendix・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ ２７
Slide 2: I-1 Income summary
Ⅰ. 3Q Financial Results, Year ending March 2008 I–1 Income summary Net sales Operating income (billion of yen) (billion of yen) 500 50 ¥340.4 bln 400 40 313.3 327.8 +3.9% year on year 29.4 30 26.4 ¥21.0 bln 300 -28.7% year on year 200 20 100 10 0 0 05/12 06/12 07/12 05/12 06/12 07/12 Recurring incom
Slide 3: Non-consolidated statements of income; construction segment summary
I-2 Non-consolidated statements of income million of yen 3Q 3Q year on year FY2007 FY2006 Net sales 291,205 301,592 -3.4% Construction 233,450 237,413 -1.7% Real estate & other 57,754 64,179 -10.0% Sales and profit of Daito Building Management Co., Gross profit 79,551 82,943 -4.1 Ltd. were increased
Slide 4: Financial summaries of major subsidiaries (Construction); Real Estate segment
I-4 Financial summaries of major subsidiaries （Construction） million of yen Construction business Daito Construction Daito steel 3Q 3Q Year on 3Q 3Q Year on FY2007 FY2006 year FY2007 FY2008 year Net sales 7,280 5,754 +26.5% 1,572 1,276 +23.2% Gross profit 220 560 -60.7% 109 66 +65.2% SG&A expenses 5
Slide 5: Financial summaries of major subsidiaries (Real estate); Others segment
I-6 Financial summaries of major subsidiaries（Real estate） (million of yen Real estate business Shanghai Daito Trust Daito building Management Housecome Construction 3Q 3Q Year on 3Q 3Q Year on 3Q※ 3Q Year on FY2008 FY2007 year FY2008 FY2007 year FY2008 FY2007 year Net sales 39,141 17,018 +130.0% 4,
Slide 6: Financial summaries of major subsidiaries (Other); SG&A expenses
I-8 Financial summaries of major subsidiaries（Other） million of yen Other business Daito Asia Development Daito Kyosaikai Care Partner Gaspal (Malaysia) Year Year Year Year 3Q 3Q 3Q * 3Q 3Q 3Q 3Q** 3Q on on on on FY2007 FY2008 FY2007 FY2008 FY2007 FY2008 FY2007 FY2008 year year year year Net sales 1
Slide 7: I-10 Financial Condition; I-11 Cash flows
I-10 Financial Condition End of 3Q period End of last fiscal year billion of yen Current 181.4 liabilities （+7.1） Current 174.2 Liabilities Current 330.3 Long-term 27.9 Current Long-term assets （+9.7） liabilities （+3.9） 320.6 23.9 assets liabilities Total 209.3 Total liabilities （+11.0） 198.2 liabil
Slide 8: Orders Received, Tenant Recruitment and Completed Construction Sales
Ⅱ.Orders Received , Tenant Recruitment and Completed Construction Sales Ⅱ-1 Orders received (non-consolidated) ◇Orders received ¥368.3 billion（+16.1%, year on year） Orders received Average contract value (billion of yen) (million of yen) 400 \368.3bln 150 317.2 292.7 300 200 100 81.25 84.61 \83.24ml
Slide 9: Sales efficiency
Ⅱ-2 Sales efficiency ◇Sales people (staff) ： 2,872 at the end of December 2007 Orders received / each sales person Number of sales staff Orders received by each salespeople Number of sales people (million of yen) 3,000 2,872 30 2,371 2,107 2,000 \15.62mln 20 15.54 15.81 1,000 0 10 05/12※ 06/12※ 07/1
Slide 10: Orders received by regional block; Plan of full-year orders
Ⅱ-4 Orders received (non-consolidated) by regional block Orders received (billion of yen) 120 150% 100 102.8 61.1% Company 54.3% Average 80 32.5% 16.0% 20.6% 21.2% 21.5% (79.2) 5.9% 6.3% 60 1.9% 0% (2.4%) 55.3 40 49.5 48.0 20 26.0 28.7 28.6 22.1 6.9 0 -150% ) ion u tsu ku u al to u i ki o ka sh ok o
Slide 11: Number of tenants recruited; Kyosaikai occupancy rate
Ⅱ-6 Number of tenant recruited Number of tenant recruited : 100,091 7.2% year on year Number of tenants recruited 100,091 100,000 93,406 84,482 75,000 50,000 05/12 06/12 07/12 21 Ⅱ-7 Kyosaikai occupancy rate (comparisons of the end of December) Residential property (Dec) 95.69% -0.38 point, year on
Slide 12: Regional occupancy rate; Progress of strategy and next plan
Ⅱ-8 Regional occupancy rate Company Average 95.7% 100% 93.3% 94.2% 96.0% 94.4% 97.3% 95.2% 95.8% 93.6% 95.6% 96.2% 95.5% 97.9% 95.6% 96.3% 90% 95.1% 95.1% 94.8% 95.0% 80% 70% 60% 50% 40% 30% 20% 10% 0% ido ku tsu ku ku kai u nto ki ush Kin ho iko ugo To kka ne Ka To Ky Sh shi Ch Ho Ko as of Dec.2006
Slide 13: Forecast of end-year completed construction
Ⅱ-10 Forecast of end-year completed construction Forecast at Forecast at Oct - Dec Sep.2007 Dec.2008 Full-year： Full-year： Expedite Completed construction Short from Completed construction plan -¥7 bln construction ¥438 bln ¥435 bln +¥11 bln （435– 8 + 11） Plan ¥445bln Delay construction -¥8 bln 25
Slide 14: Appendix: Trend of number of employees by profession
Ⅲ. Appendix Ⅲ-1 Trend of number of employees by each profession ( non-consolidated) Sales staff Engineers Tenant recruiter Total employees (right axis) 5,000 10,000 4,000 8,000 3,000 6,000 2,000 4,000 1,000 2,000 0 0 06/12 07/12 08/3（est） 08/3 06/12 07/12 Year on year (plan) Total employees 7,589 8,
Slide 15: Market share trend and number of construction starts
Ⅲ-2 Market share trend & number of construction starts Lease housing starts 424,289 20% 398,825 400,000 328,079 15% 300,000 11.8% 9.6% 9.1% 10% 200,000 100,000 5% 0 0% 05/12 06/12 07/12 Lease housing starts（Apr.-Dec.） Daito's share(Apr.-Dec) The Ministry of Internal Affairs and Communications, “Hous
Slide 16: Trend of repeat orders; Kyosaikai occupancy rate
Ⅲ-4 Trend of repeat orders （billion of yen） 160 140 134.7 122.5 \119.8 120 100 42.1% 42.4% 36.9% 80 60 40 20 0 05/12 06/12 07/12 Repeat orders value Repeat ratio Repeat ratio=number of repeat orders received from our clients/total number of orders received 31 Ⅲ-5 Kyosaikai occupancy rate Kyosaikai O
Slide 17: Real estate business sales composition; buildings under management
Ⅲ-6 Real estate business – sales composition million of yen 05/12 06/12 07/12 Year on Amount （Ratio） Amount （Ratio） Amount （Ratio） year Brokerage 6,208 (9.4%) 6,933 (10.1%) 7,125 (8.5%) +2.8% Management service 25,541 (38.9%) 28,575 (41.7%) 25,716 (30.8%) -10.0% Sub-lease※１ 26,394 (40.1%) 25,344 (37
Slide 18: Diversifying fund-raising channels
Ⅲ-8 Diversifying fund-raising channels Trend of financial institution share (construction stats basis) 40% Other (4.1%) Regional Banks Japan Housing 35% Finance Agency (32.7%) 30% (13.1%) 25% Securitization 20% (9.1%) 15% 10% Agricultural 5% Cooperatives 0% (8.0%) 05/3 06/3 07/3 07/12 Regional Banks
Daito Trust Construction — 3Q FY2007 Earnings Presentation on 6ix