Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Q3 FY2016 Earnings Presentation
30 slides from Tokyu Fudosan's earnings presentation, February 2017
Slide 1: Financial Highlights FY2016 Third Quarter (First Nine Months)
Financial Highlights FY2016 Third Quarter (First Nine Months) Ended December 31, 2016 TOKYU FUDOSAN HOLDINGS CORPORATION Code：3289
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, the statements herein do not constitute assurances regarding actual results by the Company. Actual performance may significantl
Slide 3: FY2016 Q3 (First Nine Months) Operating Results
FY2016 Q3 (First Nine Months) Operating Results Revenue and income both decreased, but made steady progress toward the full-year forecast of increases in revenue and income. Q3 First nine Months Full-year (ended Dec-31) (ended March-31) Compared to the same period （\ billion） Progress last year FY20
Slide 4: FY2016 Q3 (First Nine Months) Segment performance
FY2016 Q3 (First Nine Months) Segment performance Income decreased in the urban development and residential segments due to a decline in gains on sales. Q3 First Nine Months Full-year (ended Dec-31) (ended March-31) Compared to the same period （\ billion） Progress FY2016 last year FY2015 FY2016 Comp
Slide 5: Summary of balance sheets
Summary of balance sheets Both assets and debt rose largely because of increases in properties for sales and interest-bearing debt. FY2015 FY2016 （\ billion） As of Mar-31, As of Dec-31, Compared to the end of the previous fiscal year Comparison 2016 2016 Cash and deposits 40.2 70.7 30.4□Real estate
Slide 6: Segment Performance
Segment Performance 5 Copyright © TOKYU FUDOSAN HOLDINGS CORPORATION All rights reserved.
Slide 7: Urban Development(1) FY2016 Q3(First Nine Months)
Urban Development(1) FY2016 Q3(First Nine Months) Q3: Decrease in revenue and Increase in income FY2016: Increase in revenue and Decrease in income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 168.3 143.0 (25.3) 55.0% Leasing
Slide 8: Urban Development(2) Vacancy Rate and Rent
Urban Development(2)Vacancy Rate and Rent As of Dec 31, 2016 Vacancy rate 0.8% (Tenants actually moving in and out, Office buildings and commercial facilities) (¥/Month/Tsubo) 12% ¥30,000 Tsubo ≅ 3.3㎡ 29,220 27,730 10% 26,610 ¥25,000 26,090 23,78023,880 23,850 23,710 23,600 23,770 22,48022,190 23,74
Slide 9: Urban Development(3) Major projects
Urban Development(3)Major projects Floor space* FY Projects Usage Open （thousand ㎡） CROSS PLACE Hamamatsucho Office 12 Apr- 15 (Acquired) Morinomiya Q's MALL BASE Commercial 24 Apr- 15 (Building with land lease rights) 2015 Futako Tamagawa Rise (PhaseⅡProject） Office/Commercial 157 Apr- 15 Market Sq
Slide 10: Urban Development(4) Major projects Greater Shibuya Area
Urban Development(4)Major projects Greater Shibuya Area Construction for the Dogenzaka 1-chome project started in March 2016, while work on the Nampeidai project began in July. Greater Harajuku Sta. Shibuya Area Omotesandou Sta. Tokyu Plaza OmotesandoHarajyuku Open April-2012 (tentative name) Jingum
Slide 11: Urban Development(5) Major projects Ginza・Takeshiba
Urban Development(5)Major projects〈Ginza・Takeshiba〉 Tokyu Plaza Ginza opened in March 2016, and construction for the Takeshiba project started in May. Urban Redevelopment “Step Up” Project Tokyu Plaza Ginza Takeshiba District Usage：Commercial Usage：Office･Housing･Commercial Floor Space：approx. 51,00
Slide 12: Urban Development(6) New projects Commercial facilities
Urban Development(6)New projects〈Commercial facilities〉 Five facilities of the commercial development project will open in FY2017 and FY2019 Tamagawa 2-chome Project * Shimbashi 3-chome Project * Higashi Ikebukuro Cinema Complex Project * 3 Floors above ground 1 Floors below Usage：Commercial Floor S
Slide 13: Residential(1) FY2016 Q3(First Nine Months)
Residential(1) FY2016 Q3(First Nine Months) Q3: Decreases in both revenue and income FY2016: Decrease in revenue and Increase in income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 69.7 38.6 (31.1) 34.7% Condominiums 42.9 31.9
Slide 14: Residential(2) Outline of condominium
Residential(2)Outline of condominium Growth in revenue is expected from the strong sales of high-end properties in the fiscal year ending March 31, 2017. FY FY2014 FY2015 FY2016 Forecast FY2017 Forecast No. of units sold Total 2,027units Total 1,892units Total 1,582units (Plan) － Revenue 89.7 87.6 9
Slide 15: Property Management(1) FY2016 Q3(First Nine Months)
Property Management(1) FY2016 Q3(First Nine Months) Q3: Increase in revenue and Decrease in income FY2016: Increases in both revenue and income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 105.9 107.1 1.2 70.2% Condominium 76.
Slide 16: Property Management(2) Stock of properties
Property Management(2)Stock of properties The number of management contracts for both condominiums and other buildings increased as planned, resulting in growth in property stock under management. 〈Trend in stock of comprehensive condominium management and facility management in number of units〉 Com
Slide 17: Real Estate Agents(1) FY2016 Q3(First Nine Months)
Real Estate Agents(1) FY2016 Q3(First Nine Months) Q3: Increases in both revenue and income FY2016: Increases in both revenue and income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 50.2 52.8 2.6 63.3% Real-estate sales agent
Slide 18: Real Estate Agents(2) Performance indicators in sales agency operations
Real Estate Agents(2)Performance indicators in sales agency operations Both the number of transactions and average handling prices increased in the retail business, driven by the strong market conditions. FY2016 Q3 Highlights Retail Wholesale Total No. of transactions 15,935 729 16,664 □Retail (Resu
Slide 19: Wellness(1) FY2016 Q3(First Nine Months)
Wellness(1) FY2016 Q3(First Nine Months) Q3: Increases in both revenue and income FY2016: Increases in both revenue and income Third Quarter FY2016 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 63.9 67.3 3.5 70.9% Operation of resort facilities* 23
Slide 20: Wellness(2) Major projects
Wellness(2)Major projects New openings of Tokyu Stay hotels are planned in and after 2017, including those for regional cities. Type Major project Usage Open Tokyu Stay Ginza Mar-2016 Tokyu Stay Kyoto Karasuma Oike* FY2017 Tokyu Stay Sengakuji* 〃 Tokyu Stay Tokyu Stay Sapporo Odori Higashi* Urban-ty
Slide 21: Tokyu Hands FY2016 Q3(First Nine Months)
Tokyu Hands FY2016 Q3(First Nine Months) Q3: Increase in revenue and Decrease in income FY2016: Increase in revenue and Decrease in income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 72.8 74.1 1.3 73.5% Operating income 1.2 0
Slide 22: Innovation Business FY2016 Q3(First Nine Months)
Innovation Business FY2016 Q3(First Nine Months) Q3: Increases in both revenue and income FY2016: Increases in both revenue and income Third Quarter FY2015 FY2016 Comparison Progress First Nine Months（\ billion） Q3(Apr-Dec) Q3(Apr-Dec) Operating revenue 33.4 33.8 0.4 62.3% Operating income (3.1) (1.
Slide 23: Reference
Reference 22 Copyright © TOKYU FUDOSAN HOLDINGS CORPORATION All rights reserved.
Slide 24: Reference① Progress in the Medium- and Long-Term Management Plan
Reference① Progress in the Medium-and Long-Term Management Plan Operating Income [¥billion] DE ratio Residential Real-Estate Agents 120 Innovation business Operating ¥100 3.0 Tokyu Hands 2.6× income billion Wellness Property Management 100 Urban Development 2.7× ¥73 2.5 Elimination billion 68.8 ¥61.
Slide 25: Reference② Return to Shareholders
Reference② Return to Shareholders Annual dividend for the fiscal year ending March 31, 2017, will be raised to 13 yen, representing the fourth consecutive increase. Dividend*（Year-end） 12Yen Dividend*（Interim） 10Yen 6.5 6.5 8Yen 5.0 6Yen 4.5 3.5 3.5 3.5 3.5 4Yen 6.5 5.0 5.5 2Yen 3.5 3.5 3.5 3.5 3.5
Slide 26: Reference③ Transition in total floor area and AUM transition
Reference③ Transition in total floor area and AUM transition (As of Sep-30, 2016) 〈Transition in total floor area〉 〈AUM transition〉 Thousand ㎡ ¥billion 2,000 Commercial facilities 800 Office building Private funds, etc. 680.2 1,580 1,590 CRR** 1,548 644.1 1,512 1,425 API* 1,500 600 556.8 156.2 529.6
Slide 27: Reference④ Distribution of Office Buildings
Reference④ Distribution of Office Buildings Office Buildings : Floor space 651 thousand ㎡, Total of 62 buildings (As of Sep-30, 2016) 〈Area〉 〈Completed year〉 Metropolitan 4districts After 2001 509thousand ㎡（78%） 48buildings 390thousand ㎡（60%） 28buildings Kansai 4% -1980 2% 26 [3] 15 [4] 2011- Chiyod
Slide 28: Reference⑤ Major office buildings (Urban Development segment)
Reference⑤ Major office buildings(Urban Development segment) As of the end of September 2016, the Company holds 62 buildings, located mainly in four wards in central Tokyo. No. of Total floor Area Major properties[Building] Year built notes buildings space * Shibuya Center Place 1983 7 Shibuya Dogen
Slide 29: Reference⑥ Major commercial facilities (Urban Development segment)
Reference⑥ Major commercial facilities(Urban Development segment） As of the end of September 2016, the Company operates 23 locations in the Tokyo area and 8 locations in Kansai and other regions. No. of Major properties Total floor Area Year built notes facilities [Commercial facilities] space * Tok
Slide 30: Tokyu Fudosan Holdings
@ & TOKYU FUDOSAN HOLDINGS
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