Medium-term Financial Forecasts
(FY ending March 2024-FY ending March 2026)
February 15,2023
SANIX INCORPORATED
Copyright© SANIX INCORPORATED
1 Company-wide Strategy
Projections
(Billions of Yen) | ||||
(Consolidated) | FY2022 Forecast | FY2023 Plan | FY2024 Plan | FY2025 Plan |
Net Sales | 46.5 | 48.0 | 50.0 | 53.0 |
Operating Income | 1.5 | 3.2 | 3.2 | 3.0 |
EBITDA※ | 3.3 | 4.8 | 4.9 | 5.0 |
ROE | 17.9% | 35.0% | 24.0% | 16.0% |
ROIC | 6.9% | 14.0% | 12.0% | 10.0% |
Equity ratio | 17.2% | 22.0% | 27.0% | 30.0% |
※ EBITDA is operating Income + depreciation.
Consolidated Net Sales and Operating Income
（Billions of Yen) | |||||||||||||
65.0 | 5.3% | 4.7% | 6.7% | 6.4% | 5.8% | 8% | |||||||
60.0 | 3.3% | 53.0 | 6% | ||||||||||
55.0 | 52.5 | 4% | |||||||||||
49.4 | 50.9 | 50.0 | |||||||||||
50.0 | .0 | 2% | |||||||||||
46 | |||||||||||||
45.0 | 0% | ||||||||||||
40.0 | -2% | ||||||||||||
-5.1% | |||||||||||||
35.0 | -4% | ||||||||||||
30.0 | -6% | ||||||||||||
FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |||||||
Forecast | Plan | ||||||||||||
Net Sales(Excluding PPS) | Net Sales(PPS) | Operating Income Margin | |||||||||||
The net sales target excluding the Power Producer and
Supplier(PPS) business is an average annual growth of 7.4%.
35%
30%
25%
20%
15%
10%
5%
0% -5%-10%-15%-20%
ROIC and Equity ratio
FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
Forecast | Plan | |||||
Equity ratio | ROIC | |
Copyright© SANIX INCORPORATED | 1 |
1 Company-wide Strategy
Resource Allocation
Resource Allocation
- The earning power of the entire business will increase during the plan period and total EBITDA is expected to be 14.7 billion yen.
- The portion excluding debt repayment and facility renewal is the allowance for strategic investment and funds allocated for growth.
Total EBITDA for
FY2023-FY2025
¥14.7 billion
Total EBITDA for
FY2020-FY2022
¥5.5 billion
Allowance for
strategic investment
¥4.8 billion
Investment in facility renewal ¥4.7 billion
Debt repayment
¥5.2 billion
Funds allocated to promote and accelerate growth
- Human resource investment
- R&D
- Facility installation (expansion and new)
- M&A,etc.
Copyright© SANIX INCORPORATED | 2 |
2 Division Strategy
Growth strategy for Residential Environment Area
(Billions of Yen) | ||||
(Consolidated) | FY2022 Forecast | FY2023 Plan | FY2024 Plan | FY2025 Plan |
Net Sales | 16.3 | 17.3 | 18.3 | 19.3 |
HS Division | 12.0 | 12.8 | 13.4 | 14.0 |
ES Division | 2.4 | 2.6 | 2.8 | 3.0 |
SE Division | 1.8 | 1.9 | 2.1 | 2.3 |
Operating Income | 1.6 | 2.2 | 2.3 | 2.5 |
Our strengths
- Stable revenue base based on ongoing business relationships with customers.
- Human resources with both high sales capabilities and construction skills
- Sales network rooted in local communities.
External environment
- Government policy for building high-quality housing stock.
- Growth in demand for housing maintenance and hygienic environments generated by the COVID-19 pandemic.
- Growing need for residential solar power generation facilities as a result of the steep rise in electricity fees and growing environmental awareness.
Growth strategy
- Increase of sales capabilities and service quality through enhanced retention and development of human resources.
- Focus on developing new customers from a medium- to long-term perspective.(increase new customer channels through the expansion of affiliates and development of sales organizations)
Affiliated JA | Affiliated JA※ | |||||||||||||||||
Changes in the Average Number of Workers | Number of Affiliates | Alliance for collective housing | ||||||||||||||||
50 JA | ||||||||||||||||||
1,200 | 600 | Alliance for individual customers | ||||||||||||||||
50 | ||||||||||||||||||
900 | 500 | Alliance for | ||||||||||||||||
400 | 106 | |||||||||||||||||
SE | collective housing | |||||||||||||||||
600 | ||||||||||||||||||
300 | 106 Corporation | |||||||||||||||||
ES | ||||||||||||||||||
300 | 200 | 368 | ||||||||||||||||
HS | ||||||||||||||||||
0 | 100 | Alliance for | ||||||||||||||||
0 | individual customers | |||||||||||||||||
FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | ||||||||||||||
FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022.3Q | |||||||||||||
368 Corporation | ||||||||||||||||||
Results | Forecast | Plan | ||||||||||||||||
Results |
※Japan Agricultural Cooperatives
Copyright© SANIX INCORPORATED | 3 |
2 Division Strategy
Growth strategy for Energy Area
(Billions of Yen) | ||||
(Consolidated) | FY2022 Forecast | FY2023 Plan | FY2024 Plan | FY2025 Plan |
Net Sales | 13.8 | 12.4 | 14.6 | 16.5 |
PV Division | 8.0 | 10.1 | 12.2 | 14.0 |
PPS Division | 5.8 | 2.3 | 2.4 | 2.5 |
Operating Income | 0 | 0.1 | 0.4 | 0.9 |
Our strengths | ||||
External environment |
- Ability to provide seamless services from the development, manufacturing, sale, and construction of photovoltaic power generation systems to their maintenance.
- Ability to propose optimal self-consumption plans leveraging our knowledge of electricity.
- High-qualityconstruction performed by many qualified engineers.
- Track record of approx. 29,000 solar power plant for business use construction projects.
- Power companies have a growing need for renewable energy sources due to the growing demand for renewable energy.
- Corporate efforts to reduce GHG emissions and local activities to achieve zero-carbon cities are in full swing.
- An increase in the impact of installing photovoltaic power generation equipment due to a steep rise in electricity expenses and a decrease in the cost of this equipment.
Growth strategy
- Improving the development of power sources (photovoltaic power plants) for power companies that require renewable energy sources.
- Improving proposals for the installation of photovoltaic power generation equipment for companies and local governments that are accelerating their zero-carbon activities.
Solar Power Generation System
in Mitsui Shopping Park LaLaport Fukuoka (part of the system)
System total capacity: 148.00 kW
Population trends and trend in the number of municipalities
1,000 | 124.52 million | 14,000 | ||||
831 municipality | ||||||
800 | 12,000 | |||||
78.83 million | 10,000 | |||||
600 | 166 municipality | 8,000 | ||||
400 | 6,000 | |||||
4,000 | ||||||
200 | 19.56 million | |||||
4 municipality | 2,000 | |||||
0 | 0 | |||||
number of | Sep.2019 | Oct.26,2020 | Jan.31,2023 Ten thousand | |||
municipalities | ||||||
(Present) | of people |
Source: Website of the Ministry of the Environment
Copyright© SANIX INCORPORATED | 4 |