Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Q2 FY2023 Earnings Presentation
101 slides from Tokyu Fudosan's earnings presentation, November 2023
Slide 1: Financial Highlights FY2023 Second Quarter
Securities Code: 3289 Financial Highlights WE ARE GREEN Create Value for the Future FY2023 Second Quarter (First Six Months) Ended September 30, 2023 @ TOKYU FUDOSAN HOLDINGS
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. Consequently, any statements herein do not constitute assurances regarding actual results by the Group. Actual performance may significantly
Slide 3: Contents
| Contents | * Highlights occe QA * Progress of Medium-Term Management Plan and Initiatives to cee e 5 Enhance Corporate Value * Summary of the FY2023 Second Quarter (First Six Months) cooo is Ended September 30, 2023, and Earnings Forecasts * Segment Overview o000 2 + Partner co-creation initiative
Slide 4: Highlights
| Highlights | Topics Contents Operating profit: 58.0 billion yen (+12.2 billion yen YoY) Financial results for the period Net profit* 38.3 billion yen (+11.4 billion yen YoY) under review Increased in both revenues and profit YoY due to strong sales of assets and brokerage business, recovery in the
Slide 5: Progress of Medium-Term Management Plan and Initiatives to Enhance Corporate Value
Progress of Medium-Term Management Plan and Initiatives to Enhance Corporate Value © TOKYU FUDOSAN HOLDINGS CORPORATION 5 nner nnnnnr ener e errr een r een e reer
Slide 6: Progress of Medium-Term Management Plan (Financial Targets)
| Progress of Medium-Term Management Plan (Financial Targets) | All target financial indicators are steadily improving. FY2021 FY2022 Initial forecast Latest forecast FY2025 (Result) (Result) for FY2023 for FY2023 (Target) ROE 5.7% 7.3% 8.8% P 8.9% 9% ROA 3.2% 4.1% 4.0% P 4.1% 4% EPS ¥48.84 ¥67.21 ¥
Slide 7: Long-term management policy
Long-term management policy The Group policy and business policy
Slide 8: Changes in Share Price, etc.
| Changes in Share Price, etc. (2019.10.1~2023.11.10) | FY2023 (Forecast) ROE 8.9% 1,100yen = 9.0% —— Share price sa BPS fe eel ! ' i] 1,000yen ' : 8.0% i] i] 900yen a ' FY2022 7.3% ‘ FY2019 6.7% 1.0% 800yen 700yen 6.0% 600yen 5.0% 500yen 4.0% 400yen FY2020 3.7% 300yen 3.0% 2019/10 2020/04 2020/10 2
Slide 9: PBR, ROE, PER improvement
PBR↑ ROE↑ PER↑ 5.7% 7.3% 8.9% 9.0% 10% or more • • • • • • 150.0 billion 83.8 billion 110.4 billion 115.0 billion 120.0 billion or more 75.0 billion 35.1 billion 48.2 billion 64.0 billion 65.0 billion or more
Slide 10: Business portfolio: asset-utilizing and human capital-utilizing
Asset-utilizing business Human capital-utilizing business Quantitative Infrastructure and industry Investment management Offices Offices Commercial facilities Residential Real estate brokerage Rental housing service, etc. Commercial facilities Overseas operations Property management Hotels Healthcar
Slide 11: Transfer of all business to Renaissance, Incorporated
Made the decision to transfer all business to industry leader Renaissance, Incorporated
Slide 12: Progress in business portfolio management
| Progress in business portfolio management@) | Conducted structural reforms intensively in FY2021 and FY2022, focusing on fundamental restructuring businesses. under the influence of Covid-19 [Yen] 8.9% 9.0% 80 mmm EPS -@-ROE (%) y 10% 8% 60 6% 40 A% 20 2% 0 0% 19/3 20/3 21/3 22/3 23/3 24/3 Forecas
Slide 13: Summary of FY2023 Second Quarter and Earnings Forecasts
Summary of the FY2023 Second Quarter (First Six Months) Ended September 30, 2023, and Earnings Forecasts © TOKYU FUDOSAN HOLDINGS CORPORATION
Slide 14: FY2023 Major business environment
| FY2023 Major business environment | Progress in Condominiums, Hotels, Real estate agents businesses, and asset sales exceeded expectations at the time the mid-term management plan was formulated. Topics Offices Commercial facilities Condominiums Renewable energy facilities Real estate agents and t
Slide 15: FY2023 Q2 Operating Results, major index
| FY2023 Q2 (First six months) Operating Results, major index | Both revenues and profit increased YoY Q2 Q2 Forecast** Operating Revenue 445.0 490.7 45.7 1,005.8 1,120.0 43.8% Operating profit 45.9 58.0 12.2 110.4 115.0 50.5% (JExtraordinary income <FY2022> Non-operating income 11 21 1.0 2.6 ad — G
Slide 16: FY2023 Q2 Segment performance
| FY2023 Q2 (First six months) Segment performance | Revenues and profit Increased YoY in All Segments; Steady Progress in Asset Sales |e | (¥ billion) Comparison FY2022 Compa: note Q2 Forecast Operating revenue 445.0 490.7 45.7 1,005.8 1,120.0 43.8% Urban Development 135.7 142.3 6.6 346.1 380.6 37.
Slide 17: FY2023 Q2 Analysis of segment performance
| FY2023 Q2 (First six months) Analysis of segment performance | 12.2 billion yen increase YoY, due to strong asset sales and brokerage sales, recovery in wellness business, etc. + Property Management business +0.6 billion yen + Increase in real estate agent sales due to + Wellness business +5.8 bil
Slide 18: FY2023 Q2 Summary of balance sheets
| FY2023 Q2 (First six months) Summary of balance sheets | Increase in cash and deposits due to sales of non-current assets, etc Interest-bearing debt increased as we procured finance in preparation for capital expenditure in the year ending March 2024. a FY2022.| FY2023 a FY2022. | FY2023 ©-Ciliion
Slide 19: Asset Breakdown by Segment and ROA Trends
| Results for the First Six Months of FY2023: Asset Breakdown by Segment and ROA Trends | Progress in investments has led to an increase in land and buildings for sale in Urban development and Strategic investments businesses <Asset breakdown by segment) * Before adjustments «Breakdown of Urban Deve
Slide 20: Market value appraisal for leased properties
| Market value appraisal for leased properties | Unrealized profit of leased properties increased FY2021 FY2022 Remark: Mar-2022 | Mar-2023 |COmParison remarks sition | Carrying Value 764.0 732.6 (31.4) (Market value at the end of the fiscal year is calculated by our company mainly according to the
Slide 21: Summary of Cash flow and Investment plan
| Summary of Cash flow and Investment plan | Capital investment will be made mainly in Shibuya Sakura Stage and renewable energy facilities, and in rental housing and logistics facilities for sale. FY2022 FY2023 (¥ billion) wD wD Main factors for changes . . [$53.5 billion yen of profit before incom
Slide 22: Transfer from non-current assets to inventory
Transfer from non-current assets to inventory FYE Mar 2021 FYE Mar 2022 FYE Mar 2023 ¥34.1 billion ¥54.8 billion ¥55.6 billion
Slide 23: FY2023 Earnings Forecasts, major index
| FY2023 Earnings Forecasts, major index | After we upgraded forecasts, ROE will increase to 8.9%. FY2022 arehP omparison arehP Comparison note Forecast Forecast Operating Revenue 1,005.8 1,120.0 114.2 1,120.0 Operating profit 110.4 115.0 4.6 112.0 3.0 Non-operating income 2.6 - - - - Non-operating
Slide 24: FY2023 Segment performance Forecast
| FY2023 Segment performance Forecast | With brisk buyer demand in the real-estate market, our asset sales reached 60% of the gross profit target for the year ending March 2024. FY2023 Comparison (¢ billion) FY2022 Comparison £2028 note Forecast Initial forec: : Operating revenue 1,005.8 1,120.0 114
Slide 25: Operating profit forecast variance by segment
140 Variance from initial forecast: +¥1.4 bn Strong performance in real estate agents 120 business 34.9 36.3 100 33.7 Variance from initial forecast: +¥4.3 bn Recovery in hotels business etc. 80 12.3 17.2 21.5 Variance from initial forecast: ¥(2.6) bn 15.2 Decrease of sale of equity in overseas 60 1
Slide 26: FY2023 Earnings forecasts and analysis of segment performance
| FY2023 Earnings forecasts and analysis of segment performance | Plan to increase profit by 4.6 billion yen YoY due to increase in Real estate agents business and recovery in Wellness business, etc. + Property Management business +0.5 billion yen * Wellness business +9.6 billion yen + Increase in r
Slide 27: Financial Condition
| Financial Condition | Long-term ratio of interest-bearing debt at the end of FY2022 was 95.9%, and the fixed ratio was 95.3%. Interest-bearing debt at the end of FY2023 is planned to be ¥1,650.0 billion due to the promotion of large-scale projects, etc. mamEquity maminterest-bearingDebt —-®=D/E ra
Slide 28: Shareholder Return
| Shareholder Return | ROE of 8.9% and annual dividend of ¥28.0 per share (up ¥4.5 from the previous fiscal year) are planned for FY2023. Shareholder return policy: Payout ratio of 30% or more and maintain stable dividends <EPS and ROE Trends) [Yen] lee EPS (yen) —@-ROE (%) 8.9% 10% 80 1.1% 73% 7.3%
Slide 29: Segment Overview
Segment Overview © TOKYU FUDOSAN HOLDINGS CORPORATION 29 nner nnnnnr ener e errr een r een e reer
Slide 30: Urban Development (Asset-utilizing business)
| Urban Development (Asset-utilizing business) | This segment creates attractive urban living environments. Urban Development Urban Development (Offices and Residential Commercial Facilities) Business environment of focus Acceleration of decarbonization, Acceleration of Financial and eyes p diversif
Slide 31: Urban Development FY2023 Q2
| Urban Development @ FY2023 Q2 (First Six Months) | Result in period under review: YoY growth in revenues and profit Annual outlook: Performance will fluctuate with asset sales fluctuating, but leasing and residential sales will remain strong. (¥ billion) note Operating revenue 135.7 142.3} 6.6 Urb
Slide 32: Vacancy Rate and Rent trends and Portfolio Characteristics
| Urban Development @ Vacancy Rate and Rent trends and Portfolio Characteristics | As of September 30, 2023, vacancy rate remains low at 1.1 % (office buildings and commercial facilities), and average office rent at 28,740 yen (month/tsubo) <Vacancy Rate and Rent trends) Vacancy Rate Rent (¥/Month/T
Slide 33: Urban Development Major projects
| Urban Development @) Major projects (Offices/Commercial facilities, etc.) | Tokyo Port City Takeshiba Minato-ku Office/Commercial/ Housing Floor space: 201 [Other projects) es COCONO SUSUKINO Shinjuku West Gate HigashiGotanda2-chome KUDAN-KAIKAN TERRACE So aSUST ee Chiyoda-ku ‘ Redevelopment Plan
Slide 34: Major projects (the Greater Shibuya area)
| Urban Development @ Major projects (the Greater Shibuya area) | After the completion of Shibuya Sakura Stage, several projects remain underway in the Greater Shibuya area, including Next Shibuya Sakuragaoka and Jinnan 1-chome. Tokyu Plaza Harajuku "Harakado" (Jingumae6-chome Block Redevelopment Pr
Slide 35: Major project: Shibuya Sakura Stage
| Urban Development © Major project ~Shibuya Sakura Stage~ | Combined facility for work, living, and playis scheduled for completion for end of November 2023, and will open sequentially thereafter Shibuya Sakura Stage Office Commercial Facility MY, (ath : Commercial facilities to create culture Adva
Slide 36: Creation, Dissemination, Accumulation
Enhancing dissemination potential Communication that resounds around the world Mediatization of the city Enhancing value creation potential Increase Shibuya’s media presence and The creation of new attract attention from around the world experiences and businesses Digital twinning Development of int
Slide 37: Residential business Q2 results
¥ BRANZ Chiyoda Fujimi (Chiyoda-ku, Tokyo) fter conversion to equity * (Q2 Results)
Slide 38: Residential properties and units
(82 of which are non-condo units) Units: Number of units indicates the figure prior to equity conversion. Properties in planning stage include non-condominium units.
Slide 39: Strategic Investment (Asset-utilizing business)
| Strategic Investment (Asset-utilizing business) | This segment develops infrastructure for the next generation. Infrastructure and Investment Strategic investment industry management Overseas operation Business environment of focus Acceleration of decarbonization, Acceleration of Financial and div
Slide 40: Strategic Investment FY2023 Q2
| Strategic Investment @ FY2023 Q2 (First Six Months) | Result in period under review: YoY growth in revenues and profit Annual outlook: Net revenues will increase. However, profit will decrease because of higher costs in overseas businesses. «Breakdown of revenues in (billion) | “oO | “O. Compariso
Slide 41: Renewable energy business
| Strategic Investment @ Renewable energy business | The number of operating properties has increased, and it has grown to make a stable contribution to earnings Domestic projects acquired (As of September 30, 2023) Portfolio Properties in operation: 70 (solar: 63, wind power: 6, biomass: 1) Solar P
Slide 42: Total secured facilities
Total secured facilities はパワ ポ上で入れた方が きれいになりそう
Slide 43: Renewable energy business partnerships
Funds, Funds, has business has business partnerships with partnerships with Funds, TOKYU LAND has business partnerships CORPORATION with Manzanares Solar Power Plant TOKYU LAND: Owns (as its fully consolidated subsidiary)
Slide 44: Logistics facilities business
| Strategic Investment © Logistics facilities business | JI LOGI’Q Steady progress in securing projects while increasing asset turnover Projects acquired (As of September 30, 2023) Major projects Properties in operation: 5 LOGI’Q Ebina minami Projects under development: 16 Floor space: 14 thousand n
Slide 45: Overseas operations
| Strategic Investment © Overseas operations | 22 projects are in progress in the United States 425 Park Avenue 6 New York U.S. Portfolio Office Redevelopment Project 47 stories above ground Participating projects in urban regions with 2 basements @ Rentalhousing @ Office / Other Completed in Januar
Slide 46: Property Management & Operation (Human capital-utilizing business)
| Property Management & Operation (Human capital-utilizing business) | This segment offers gratifying experiences to customers Property management Property & operation management Wellness Greening, etc. Business environment of focus Acceleration of decarbonization, Acceleration of Financial and dive
Slide 47: Property Management & Operation FY2023 Q2
| Property Management & Operation @ FY2023 Q2 (First Six Months) | Result in period under review: YoY growth in revenues and profit Annual outlook: Revenues and profit increased due to recovery in demand centered on the hotel business. FY2023 FY2022 (¥billion) " Comparison note Q2 Operating revenue
Slide 48: Stock of properties
| Property Management & Operation @ Stock of properties | Condominium Management Stock Trends Major properties under management m Under comprehensive management m Under facility management 800,000 600,000 400,000 200,000 19/3 20/3 21/3 22/3 23/3 23/9 24/3 Plan Total units 831,684 829,533 839,891 831
Slide 49: Main projects and Operation status
| Property Management & Operation @ Main projects and Operation status | Tokyu Stay‘s RevPAR exceeds to pre-Covid-19 levels thanks to inbound demand, etc. — Tokyu Harvest Club VIALA Grancreer Tsunashima Hyatt House Tokyo Shibuya ResortHotel | TOKYU Harvest Club VIALAHakonekoyu Karuizawa Retreat Seni
Slide 50: Real Estate Agents (Human capital-utilizing business)
| Real Estate Agents (Human capital-utilizing business) | This segment leads a healthy stock-type society Real estate agents Real estate agents Rental housing service Business environment of focus Acceleration of Financial and digitalization economic trends Strengths / Management resources Strong br
Slide 51: Real estate agents transaction trends
2,500 35,000 30,101 28,750 29,577 30,000 2,000 25,570 26,437 25,635 24,410 23,278 25,000 21,939 1,909.9 1,500 19,435 19,568 1,821.3 1,578.0 20,000 14,897 1,315.9 15,000 1,000 1,315.6 1,211.6 1,100.4 1,245.5 1,226.5 1,010.8 944.5 10,000 911.5 500 5,000 0 0
Slide 52: Real Estate Agents: Performance indicators in sales agent
| Real Estate Agents 2) Performance indicators in sales agent | FY2023 Q2 Wholesale Highlights Rate of change YoY No. of transactions 14,319 578 14,897 ORetail (units) +0.9% +8.0% +1.1% + Number of brokerage offices: 210 as of March 31, 2023, with plans to open A f 5 9 new offices this fiscal year.
Slide 53: Changes in properties under management
| Real Estate Agents @) Changes in properties under management | Rental Housing Management Stock Trends Major properties under management 140 120 . om o o 20/3 21/3 22/3 23/3 23/9 24/3 Plan [Units: thousand) 99 107 u7 130 133 142 een) 2G +8 +10 +13 |] +4 &2=+122 = N SHINONOME CANAL COURT CODAN (Comp
Slide 54: Partner co-creation initiatives
Partner co-creation initiatives © TOKYU FUDOSAN HOLDINGS CORPORATION 54 I
Slide 55: Expansion of associated assets
Existing business policy Expansion of associated assets
Slide 56: Partner co-creation initiatives
| Partner co-creation initiatives | Co-create with external partners to expand assets involved Comprehensive business alliance with JR East (February 2023) Acomprehensive business alliance was formed with the aim of solving social issues through environmentally symbiotic, community self-help sustain
Slide 57: Sustainability Initiatives
Sustainability Initiatives © TOKYU FUDOSAN HOLDINGS CORPORATION 57 I
Slide 58: Materiality and KPI
| Materiality and KPI | We will aim to achieve non-financial KPI based on materialities 5 Customer satisfaction level* 94% 90% or more 90% or more ey PO Create a variety of oS COZ lifestyles + Products and services that Total 35 cases’ 50 cases or more 100 cases or more tribute to Lif (FY2022 15case
Slide 59: Sustainability Initiatives
| Sustainability Initiatives | We address socioenvironmental issues through our business activities. Environmental Management Report 2023 released in November 2023 Transition Plan toward Decarbonized Society and TNFD report released in August 2023 The report discloses our progress in the Group polic
Slide 60: Creating cities co-existing with nature
We address environmental challenges through our businesses to drive sustainable corporate development (balancing business growth with socioenvironmental sustainability). Creating cities co-existing with nature. Creating a future for people. Shift to renewables (RE100) Adopt ZEB/ZEH standards for bet
Slide 61: CO2 Emissions Reduction contributions
CO2 Reduction contributions Emissions through the creation of renewable energy, etc.
Slide 62: Disclosure: governance, strategy, risk management, indicators and targets
• • • ✓ • • • • • • ✓ • • • • • • • • ✓ • • • ✓ • • Disclosure broken down into governance, strategy, risk management, and indicators and targets
Slide 63: Human Capital Strategy
| Human Capital Strategy | Establishing a structure for implementing human capital management based on our human capital philosophy Create value for the future A future where everyone can be themselves and shine vigorously GROUP VISION 2030 Building a solid and distinctive business portfolio | Mediu
Slide 64: Human Capital Strategy KPIs
| Human Capital Strategy | We've set human capital KPls for each strategy. 5 Progress Measures Human capital KPI eR parce BE Outcomes eee + Degree of personal investment in achieving the 84% Giesiilisttnet long-term vision of executive officers at each (€¥2022 result, covering a 90% (FY2025) Group p
Slide 65: Corporate Governance
| Corporate Governance | = “Governance Establish a governance system that contributes to ensuring sound and transparent management and strengthening the system for implementing the long-term management policy «Corporate Governance Structure) <System of Remuneration for Officers) Improved linkage bet
Slide 66: Board composition and evaluation
❬ ❭ ●Selected - Not selected / No evaluation
Slide 67: IR Report
| IR Report | We continued engaging with investors and analysts to aid our sustainable growth and build our organization’s value over the long term. IR events organized in FY2022 Major IR events Frequency Person who primarily handled the event Earnings briefing session Twice] President & CEO, Direct
Slide 68: DX Initiatives
DX Initiatives © TOKYU FUDOSAN HOLDINGS CORPORATION 68 nner nnnnnr ener e errr een r een e reer
Slide 69: DX Initiatives
| DX Initiatives | Sy ox Our digital transformation focuses on business processes and customer experience. DX Report2023 released in November 2023 Tokyu Fudosan Holdings listed in DX Stocks 2023 The report discloses our progress in our Group-wide digital transformation. It defines four priority issu
Slide 70: Summary of DX Report 2023
| Summary of DX Report2023 | Se i We've defined the following four priority issues for providing seamless digital services that create new experience value. Four priority issues, business areas Asset-utilizing business x capital-utilizing business Urban Regions Make urban locations more attractive A
Slide 71: DX Value Creation Roadmap
| DX Value Creation Roadmap | Sy ox Between now and FY2025, we'll focus on saving labor and enhancing customer-centrism, unlocking discontinuous exponential growth in the run-up to FY2030. 2021-2025 2026 - 2030 Restructuring phase Resilience phase Accumulate examples of specific actions and achieve
Slide 72: Overview of the Medium-term management plan 2025
Overview of the Medium-term management plan 2025 © TOKYU FUDOSAN HOLDINGS CORPORATION 72 nner nnnnnr ener e errr een r een e reer
Slide 73: © TOKYU FUDOSAN HOLDINGS CORPORATION
© TOKYU FUDOSAN HOLDINGS CORPORATION 73
Slide 74: Assets and human capital strengths of our Group
strengths of our Group Assets Human strengths of our Group capital • • • • • • © TOKYU FUDOSAN HOLDINGS CORPORATION 74
Slide 75: © TOKYU FUDOSAN HOLDINGS CORPORATION
× • • • • • • • • • © TOKYU FUDOSAN HOLDINGS CORPORATION 75
Slide 76: Medium-term management plan
× Medium-term management plan • • • • © TOKYU FUDOSAN HOLDINGS CORPORATION 76
Slide 77: Medium-term plan targets
*1: Detailed targets are stated on p. 34. *2: Tokyu Cosmos Members Club questionnaire *3: Scope 1 & 2 under SBT certification *4: Profit attributable to owners of parent © TOKYU FUDOSAN HOLDINGS CORPORATION 77
Slide 78: Profit targets
¥ 65.0 billion ¥ 37.0 billion © TOKYU FUDOSAN HOLDINGS CORPORATION 78
Slide 79: Investment plan (net investment amount)
• • • • (net investment amount)*2 • • • • • • • • © TOKYU FUDOSAN HOLDINGS CORPORATION 79
Slide 80: Shareholder return and dividend trends
53.1% 34.8% 35.0% 29.8% 27.3% 24.1% 25.4% 25.1% 25.1% 18.0 19.2% 17.0 16.0 16.0 15.5 14.5 13.0 12.0 10.0 8.0 © TOKYU FUDOSAN HOLDINGS CORPORATION 80
Slide 81: © TOKYU FUDOSAN HOLDINGS CORPORATION
© TOKYU FUDOSAN HOLDINGS CORPORATION 81
Slide 82: © TOKYU FUDOSAN HOLDINGS CORPORATION
• • • • • © TOKYU FUDOSAN HOLDINGS CORPORATION 82
Slide 83: © TOKYU FUDOSAN HOLDINGS CORPORATION
© TOKYU FUDOSAN HOLDINGS CORPORATION 83
Slide 84: © TOKYU FUDOSAN HOLDINGS CORPORATION
© TOKYU FUDOSAN HOLDINGS CORPORATION 84
Slide 85: Reference
Reference © TOKYU FUDOSAN HOLDINGS CORPORATION 85, nner nnnnnr ener e errr een r een e reer
Slide 86: Segments Summary
| Segments Summary | Asset-utilizing business Human capital-utilizing business Urban Development Creating attractive cities and lifestyles * Office buildings + Commercial facilities + Residential Strategic Investment Building infrastructure for the next generation + Renewable energy generation + Log
Slide 87: Formulation of bond policy
| Formulation of bond policy | Aiming to realize a sustainable society and growth through the continuous issuance of ESG bonds, we established Japan's first long-term issuance policy for ESG bonds. {Outline of the Bond Policy) Name WE ARE GREEN Bond Policy - We will obtain the comprehensive and cont
Slide 88: Trends in business performance
| Trends in business performance | ik 16/3 17/3 18/3 19/3 20/3 21/3 22/3 23/3 24/3 * ‘Net income’ was replaced with ‘profit attributable to owners of parent’ in the fiscal year ended March 31, 2016. ** ROA of Asset-utilizing business © TOKYU FUDOSAN HOLDINGS CORPORATION 88
Slide 89: エクセルを閉じると凡例が崩れるので作ったらパワポに貼る所まで済ませてから完了とする
エクセルを閉じると凡例が崩れるので作ったらパワポに貼る所まで済ませてから完了とする
Slide 90: Tokyu Fudosan Group's Value Creation Process
| Tokyu Fudosan Group’s Value Creation Process | Our ideal Vision Process for Value Creation 4 Create Value for the Future We create unique and original business models by confronting social issues and alm to realize a sustainable society alongside sustainable growth for the Group by providing diver
Slide 91: Tokyo office rent and vacancy trends
12.0 150.0 Chiyoda-ku Chiyoda-ku Chuo-ku 140.0 Chuo-ku 10.0 Minato-ku 9.10 Minato-ku Shinjyuku-ku Shinjyuku-ku 127.3 8.0 Shibuya-ku 130.0 Shibuya-ku 6.69 125.3 Tokyo business district Tokyo business district 6.15 120.0 118.8 6.0 5.28 116.7 4.12 112.4 4.0 110.0 111.9 3.49 2.0 100.0 0.0 90.0 12/1 14/1
Slide 92: Trends in Total Floor Area of Office and Retail Properties
| Trends in Total Floor Area of Office and Retail Properties and Characteristics of Retail Properties | Developing commercial facilities in convenient areas, primarily in the Tokyo metropolitan area and the Kansai area <Total floor area Trends) (Features of our commercial facilities) [thousand nj] i
Slide 93: Major project: KUDAN-KAIKAN TERRACE
| Major project ~ KUDAN-KAIKAN TERRACE (Opened in Oct.2022)~ | Aworkplace with "unique features" that combines history and state-of-the-art technology A facility where history and cutting-edge technology are integrated. Embodying the concept of “retro-modernism in bloom along the waterfront Partiall
Slide 94: GREEN WORK STYLE
| GREEN WORK STYLE | Provide tenants with a one-stop service that leverages the Group's business domain to meet diverse office needs Multiple workplaces Environmental Initiatives Provide multiple and flexible workplaces to suit diverse work styles Support tenants' contribution to a sustainable socie
Slide 95: Condominiums for Sale Market
| Condominiums for Sale Market | The number of units supplied remains stable at a low level. Average price remains high. <New condominiums sold in the Tokyo metropolitan area and average price) [Number of units] [¥ thousand] 100,000 70,000 ' Number of units sold ==—=Avarege price 62,880 80,000 60,00
Slide 96: Major office buildings
| Major office buildings | Own 47 buildings mainly in 4 central wards of Tokyo —_ Shibuya Dogenzaka Tokyu 1983 Unosawa Tokyu 1984 Shibuya Shin-Minamiguchi 2000 7 Ebisu Business Tower 2003 23 Shibuya-ku 20 Shibuya Square 2004 13 ‘Shibuya Minami Tokyu 2005 20 Shibuya Place 2009 4 Shibuya Solasta 2019
Slide 97: Major commercial facilities
| Major commercial facilities | The Group operates 23 locations in the Tokyo area and 7 locations in Kansai and other regions Area No. of Major properties Year built Total flo facilities [Commercial facilities] space * Tokyu Plaza Akasaka EE ~_ Northport Mall Tokyu Plaza OmotesandoHarajuku ‘Abeno Q'
Slide 98: Major renewable energy facilities
| Major renewable energy facilities | The Group is advancing businesses through 72 solar power generation projects (Includes 1 roof top), 12 wind power generation projects, 5 biomass power generation projects, and one overseas project. eae cual Suzuran Kushirocho Kushiro-gun Kushiro-cho, Hokkai-do 9
Slide 99: Major operating facilities
| Major operating facilities | The Group operates 65 hotels, 8,967 rooms Name of facilities ITeteshina Hakone Koshien Nasu Nasu Retreat Katsura Madarao Kyu Karuizawa Annex Karuizawa Tokyu Harvest Club Hamanako Tateshina Annex VIALA Hakone Hisui VIALA annex Karuizawa (WALAannex snot included | 96 2.7
Slide 100: Past performance (financial)
| Past performance (financial) | (¥ million) Pros | rao | rans | ros | rao | rams | rao | ram | oa | na | Operating revenue 714,067 773,149 815,479 808,503 866,126 901,884 963,198 907,735 989,049} 1,005,836 Operating profit 61,433 63,300 68,750 73,227 77,519 80,205 79,312 56,517 83,817 110,410 Ordin
Slide 101: WE ARE GREEN
WE ARE GREEN @ TOKYU FUDOSAN HOLDINGS
Tokyu Fudosan Holdings — Q2 FY2023 Earnings Presentation on 6ix