financial highlights, year ended march 31, 2015...financial highlights, year ended march 31, 2015...
TRANSCRIPT
Financial Highlights, Year ended March 31, 2015
Contents
Ⅰ.Financial Result FY 2015・・・・・・・・・ 3
Ⅱ.Financial Forecasts FY 2016・・・・・・・・ 22
Ⅲ.Shareholders Return Policy・・・・・・・・ 35
Ⅳ.Mid-term Plan・・・・・・・・・・・・・・ 39
Ⅴ.Appendix・・・・・・・・・・・・・・・・ 43
Ⅰ. Financial Results FY2015
4
Shareholdersreturns
Increase in sales and income for 7thstraight terms1.
Orders received ¥660.4billions(+5.5% YoY)
Occupancy rate 96.7%(△0.2P YoY)(Residential use in March)
2.
3.
Gross return
82.8%=+
ROE 24.1%(△2.5P YoY) Payback・Cancellation of shares(record)
4.
Record-high
Record-high
¥16.6bn1.28mn shares
Sound level
I - 1 Financial highlights
①Annual dividend(Plan) ¥375(+23yen)include commemorative dividend
②Buy-back of own share and ¥16.8bn ・share retirement(Plan) 1.23mn shares
①
Payout ratio52.8%
②Buy-back of own share,
Share retirement
30%
(upper limit)
51.6 55.2
0
10
20
30
40
50
60
FY3/13 FY3/14 FY3/15
(\billions)
126.0115.2
0
200
400
600
800
1,000
1,200
1,400
FY3/13 FY3/14 FY3/15
(\billions)
85.593.3
0
20
40
60
80
100
FY3/13 FY3/14 FY3/15
(\billions)
82.489.7
0
20
40
60
80
100
FY3/13 FY3/14 FY3/15
(\billions)
5
I - 2 Financial Result summary
Net Sales
Net incomeOrdinary income
Operating
¥91.5bn(+1.9% YoY)
¥95.8bn(+2.7% YoY)
¥56.1bn(+1.5% YoY)
planned¥1345.0bn
Planned¥91.0bn
Planned¥94.9bn
Planned¥59.8bn
Sales and each profits are updated the highest record
¥1353.1bn(+7.4% YoY)
175.2172.1
0
50
100
150
200
FY3/13 FY3/14 FY3/15
(\billions)
Gross profit
545.3489.5
32.1%35.2% 29.3%
0
100
200
300
400
500
600
FY3/13 FY3/14 FY3/15
(\billions)
Amount of completed work Gross profit margin
6
FY3/2014 FY3/2015 (YoY)
Net sales 545.3 589.1 (+8.0%)
Gross profit 175.2 172.5 (△1.6%)
Gross profit margin 32.1 % 29.3% [△2.8p]
(¥billions)
※Major breakdown of GMR (△2.8p YoY)①results of price increase +0.2p②Labor cost △2.6p③Material cost △0.2p④Exchange △0.2p
※Major breakdown of GMR (△1.0p YoY)①Labor cost △1.3p②Material cost +0.2p③Exchange +0.1p
¥172.5bn
Planned¥176.9bn
¥589.1bn
Planned¥584.0bn(30.3%)
I - 3 Financial Results by segment (Construction)
[ ]:Difference from previous same period
10,000
15,000
20,000
25,000
30,000
2010 2011 2012 2013 2014 2015
10,000
15,000
20,000
25,000
30,000
2010 2011 2012 2013 2014 2015
MIYAGI
TOKYO
OOSAKA
FUKUOKA
10,000
15,000
20,000
25,000
30,000
2010 2011 2012 2013 2014 2015
7
【reinforcement placing】
※place of origin:“Unit price list of the public construction design labor unit price(base amount)”(the Ministry of Land)※it includes legal welfare expenses(worth5%) from 2013.
【mold maker】
10,000
15,000
20,000
25,000
30,000
2010 2011 2012 2013 2014 2015
(unit: ¥/person)
【electrician】 【indoor handyman】
25,900
24,800
20,500
18,300
28,000
23,500
22,100
18,300
17,600
23,600
19,600
17,400
21,800
24,900
21,300
18,400
I-4 Labor cost (Public works)
45.3
35.3
0
10
20
30
40
50
60
FY3/13 FY3/14 FY3/15
(\billions)
Gross profit on sales
678630
7.2%5.6%
6.7%
0
100
200
300400
500
600
700
800
FY3/13 FY3/14 FY3/15
(\billions)
Net sales Gross profit margin
8
¥723.8bn
Planned¥722.2bn
¥52.2bn
Planned¥49.6bn
FY3/2014 FY3/2015 (YoY)
Net sales 677.6 723.8 (+6.8%)
Gross profit 45.3 52.2 (+15.3%)
Gross profit margin 6.7% 7.2% [+0.5p]
(¥billions)
I-5 Financial Results by segment (Real estate)
[ ]:Difference from previous same period
10.912.4
0
2
4
6
8
10
12
14
FY3/13 FY3/14 FY3/15
(\billions)
Gross profit on sales
3732
34.1%33.8% 35.2%
0
10
20
30
40
FY3/13 FY3/14 FY3/15
(\billions)
Net sales Gross profit margin
9
¥40.1bn¥14.1bn
FY3/2014 FY3/2015 (YoY)
Net sales 36.6 40.1 (+9.7%)
Gross profit 12.4 14.1 (+13.2%)
Gross profit margin 34.1% 35.2% [+1.1p]
(¥billions)
Planned¥38.8bn
Planned¥13.9bn
I-6 Financial Results by segment (Others)
[ ]:Difference from previous same period
136.0143.3 ¥147.4bn
11.8% 11.4% 10.9%
0
50
100
150
FY3/13 FY3/14 FY3/15
(\billions)
0%
10%
20%
30%
40%
50%
SG&A expenses SG&A ratio
10
FY3/2014 FY3/2015 (YoY)
SG&A expenses 143.3 147.4 (+2.9%)
SG&A ratio 11.4% 10.9% [△0.5p]
(¥billions)
Planned ¥149.4bn
I-7 Selling, general and administrative expenses
[ ]:Difference from previous same period
11
Current
assets494.3(+11.4)
Current
liabilities267.4(+12.0)
Noncurrent
liabilities196.8
(△10.1)
Total
liabilities464.3
(+1.9)Current
assets206.7 (+5.3) Net assets
236.7 (+14.7)
Total701.1(+16.7 )
Total 701.1
BPS ¥3,060.84
Equity ratio 32.9%
ROE 26.6%
BPS ¥2,823.23
Equity ratio 31.0%
ROE 29.6%
Current
assets482.9
Current
liabilities255.4
Noncurrentliabilities 206.9
Totalliabilities 462.4
Net assets 222.0Noncurrent
assets201.4
Total 684.4 Total 684.4
End of FY3/2015 End of FY3/2014
(¥billions)
I-8 B/S summary
12
255.5
-60.8
0.9
59.4
253.2
-80 -40 0 40 80 120 160 200 240 280 (\billions)
・Net income before taxes・Payment for corporate taxes
・Purchase of PP&E(Solar power generation installations ¥9.98bn)
・The repayment of securities, etc.
・Cash dividend・Buy-back of own shares・Repayment of long-term loans
I – 9 Cash flow
Cash and cash equivalents at
the beginning of FY3/2015
Cash flow provided by
Operating activities
Cash flow provided by
Investing activities
Cash flow provided by
Financing activities
Cash and cash equivalents at
the end of FY3/2015
178.4159.5
179.2
132.8136.0156.6 160.2
142.4162.4 161.9
193.7177.7
300
400
500
600
700
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY(\billions)
0
50
100
150
200
250
Quater(\billions)
13
◇Orders received ¥660.4bn(+5.5% YoY, schedule attainment rates 104.8%)
Record-high
FY3/13 FY3/14 FY3/15
¥660.4bn625.8
655.1
I – 10 Orders received
Planned ¥630bn
(185.5)
82.4
35.151.0 50.5
81.4
26.6
229.5
14.4
89.3
+1.6%
-1.6%
+12.2%+16.0%
+4.8%
+11.2%(+13.8%) -2.1%
-3.3%
+6.2%
0
20
40
60
80
100
120
140
160
180
200
220
Hokka
ido
Toho
ku
Kanto
Kosh
inetsu
Toka
i
Kink
i
Chugo
ku
Shiko
ku
Kyus
yu
(\billions)
-50%
-25%
0%
25%
50%
Orders received YoY
14
Daito’s Ave.+5.5%
I – 11 Orders received by area
731.2780.6 \822.2bn
0
200
400
600
800
FY3/13 FY3/14 FY3/15
(\billions)
15
◇Orders on hand ¥822.2bn(+5.3% YoY )
I – 12 Orders on hand
3,204 3,325 3,247
17
1616.62
0
500
1000
1500
2000
2500
3000
3500
FY3/13 FY3/14 FY3/15
Sales rep(person)
15
16
17
OR /person(\millions
/person・month)
Sales representatives Orders received per salaes representatives
16
◇Sales representatives<Term end> 3,247staffs(△78 YoY)◇Orders received per salesrep<FY>
16.62millions / month( +340 thousands yen YoY)
I – 13 Business staffs and Orders received per sales rep (Quarterly comparison)
17
16.8%18.8%
20.2%
0%
10%
20%
30%
40%
FY3/19 FY3/14 FY3/15
Medium-rise rate ※1
◇Medium-rise rate 20.2%(+1.4p YoY)
◇Rebulding rate 31.0%(+1.7p YoY)
3.3% 3.0%
30.8%29.3%
31.0%
3.5%
0%
10%
20%
30%
40%
FY3/13 FY3/14 FY3/15
Rebuilding rate ※2
Total rebuilding rate
I – 14 Analysis of Orders received (Medium-rise rate and Rebuilding rate)
Rebuilding rate originally built by Daito (included in the above total rates)
※1 Middle-rise rate =Number of orders received for 3 stories and
up / The total orders received
※2 Total rebuilding rate =The no. of orders received for rebuilding / The total orders received
Rebuilding rate originally built by Daito =The no. of orders received for buildings originally built by Daito / The total orders received
18
18.3%
13.7%
15.9%
10%
20%
FY3/13 FY3/14 FY3/15
Cancellation rate ※2 (FY)
◇Cancellation rate 15.9%(△2.4p YoY)
◇Unit Price ¥88.26mn( +6.07mn yen YoY)
Unit price ※1
82.1977.94
88.26
0
20
40
60
80
100
FY3/13 FY3/14 FY3/15
(\millions)
I – 15 Analysis of Orders received (Unit price and Cancellation rate)
※1 Unit price = the amount of Orders received / the number of orders received
※2 Cancellation rate =the amount of cancellation / the amount of new orders received
19
3,334
4,0223,721
△10.4%△12.3%
△7.5%
0
1,000
2,000
3,000
4,000
5,000
FY3/13 FY3/14 FY3/15
-30%
-20%
-10%
0%
10%
20%
30%
Number of New Tenants YoY
250,057
216,037
237,605
+5.2%+10.0%
+3.0%
0
50,000
100,000
150,000
200,000
250,000
FY3/13 FY3/14 FY3/15
-30%
-20%
-10%
0%
10%
20%
30%
Number of New Tenants YoY
Residential use Commercial use
(Number) (YoY) (Number) (YoY)
・Residential use 250,057(+5.2% YoY)
・Commercial use 3,334(△10.4% YoY)
◇New Tenants 253,391(+5.0% YoY)
I – 16 New Tenants
20
96.7% 96.9% 96.7%
70%
80%
90%
100%
3/13 3/14 3/15
96.8%95.5%
97.9%
70%
80%
90%
100%
3/13 3/14 3/15
Residential use 96.7%(△0.2p YoY)
Commercial use 97.9%(+1.1p YoY)
Residential use Commercial use
96% 94%
I – 17 Rent basis occupancy rate ※ (March)
※ Rent basis occupancy rate =1-( rent guarantee for vacant rooms / total rent )
Maintain a sound level(Residential use 96% Commercial use 94%)
96.7% 95.8% 96.8% 96.8% 97.7% 97.6% 97.2%
96.5% 95.5% 96.9% 96.6% 97.1% 96.7%98.6%95.4%
98.4% 97.0%95.3%
0%
50%
100%
Hokk
aido
Toho
ku
Kanto
Kosh
inetsu
Toka
i
Kink
i
Chugo
ku
Shiko
ku
Kyus
yu
Occupancy rate as of Mar.2013 Occupancy rate as of Mar.2014
21
Daito’s Ave.96.7%
I – 18 Rent basis occupancy rate by area (Residential use in March)
Ⅱ. Financial Forecasts FY2016
23
Rental housing needs
ConstructionNew building starts with large amount of orders outstanding
Increasing in labor cost due to earthquake disaster reconstruction demands and preparation for Tokyo Olympics
Orders
An amendment to the Inheritance Tax Low,the needs of asset utilization backed by continuingextremely low interest rates
Landowners is agingAmiable and smooth needs of succession of assets to the next generation
Ⅱ- 1 The premise of FY3/2016 plan
Stable rental housing needs due to increasing number of households and the diversified tenantsMore flexible to mobility of workers or households by recovery of economy
24
55.2 56.1
0
10
20
30
40
50
60
70
3/14 3/15 3/16
(\billions)
89.7 91.5
0
20
40
60
80
100
3/14 3/15 3/16
(\billions)
1,259.6 1,353.1
0200400
600800
1,0001,200
1,4001,600
3/14 3/15 3/16
(\billions)
Net sales
Net income ※Ordinary income
Operating income
93.0(+1.6%YOY)
63.3(+12.8%YOY)
1,431.3(+5.8%YOY)
93.3 95.8
0
20
40
60
80
100
3/14 3/15 3/16
(\billions) 97.5(+1.7%YOY)
Planning to continue both sales and each profits reach a record-high, and to increase in sales and income for 8 terms in a row
※the net income attributes to the stockholders of the parent company in FY 3/2016
Ⅱ- 2 Income summery
25
616.2589.1
29.3% 28.0%
0
100
200
300
400
500
600
FY3/15 FY3/16(plan)
\billions
0%
20%
40%
60%
80%
100%
Net sales Gross profit margin
FY3/2015 FY3/2016 (plan) (YoY)
Net sales 589.1 616.2 (+4.6%)
Gross profit 172.5 172.3 (△0.1%)
Gross profit margin 29.3% 28.0% [△1.3p]
(¥billions)
Ⅱ- 3 Sales and gross profit margin on construction completed
[ ]:Difference from previous same period
※Major breakdown of GMR (△1.3p YoY)①results of price increase +0.7p②Labor cost △2.2p③Material cost +0.2p④Exchange ±0.0p
26
Construction・Cost control
FY3/2015 : 1,613 companies→ FY3/2016: 1,713companies
(+100 companies)※main 8 business:foundation, framework, joinery work, panel,exterior wall, inside work, electricity, water supply and drainage.
①Expansion of partner companies(partner program)
②Each construction department control initial costs
10 regions that constructions are concentrated control their order in rotation(10 regions : Kashiwa, Koto, Itabashi, Setagaya, Yokohama, Nishinomiya, Osaka,
Sakai, Okinawa, Okinawa-chubu)
Ⅱ- 4 Effort to secure net sales and gross profit
27
2×4 panel lines are added to 2 factories; Iwaki city in Fukushima and Toon city in Ehime
③ Extension of 2×4 panel lines by our capital investment
Those factories will cover more than 10% of all
construction apartments
④ Foreign Technical Intern Training Program
20 foreigner started out their works from Jan.2015(Tokyo, Chiba, Shizuoka, Okayama, Takamatsu, Fukuoka, etc.)
120 foreigner will start out their work till the end of
this term.
Ⅱ- 5 Effort to secure net sales and gross profit
28
Orders Received ¥683.0bn(103.4% YoY)
◇Sales representatives <end of March > 3,450( +203YoY)
◇Orders received per sales rep ¥16.75mn( +¥0.13mn YoY)
683.0660.4
0.0
100.0
200.0
300.0
400.0
500.0
600.0
700.0
3/15 3/16
Orders received
(billions)
Orders received
3,247 3,450
16.7516.62
0
1,000
2,000
3,000
4,000
3/15 3/16
Sales rep
0
5
10
15
20
25
Orders received per
rep(\mn/month)
Sales rep Orders received per rep
Orders receivedSales rep・Orders received
per rep
Ⅱ- 6 Orders Received
29
Expansion of our services which respond to needs of customers
Expansion of Lease Management
Trust System
Succession of asset services use of trust
30 years 35 years
■ Distinguish oneself from competitors■ Reduce owner’s risks
Extension of the whole building lease period
Lease Management Trust System
Daito Trust Construction Daito Building Management
Daito Mirai Trust
Utilize landAdministrative operation
Succession of asset support
Succession of asset support services
Ⅱ- 7 Strategy to achieve our plan of ¥683.0bn orders received
30
Expansion of rented accommodation sales with services for
responding to the aging population with a declining birthrate
Day service center(Care Partner)
Serviced rental housing for the aged
Childcare facility(Kids Partner)
3/201569 facilities
3/201673facilities
3/201777facilities
3/2016start
●RC apartment /the plan with a daycare facility three-storied (exterior)
Ⅱ- 8 Strategy to achieve our plan of ¥683.0bn orders received
3/20152 facilities
3/20167facilities
3/201710facilities
3/20176facilities
31
3,334
2,720
97.9% 97.9%
0
1,000
2,000
3,000
4,000
5,000
FY3/15 FY3/16(plan)
70%
80%
90%
100%
Number of New Tenants YoY
250,057
96.7%96.7%
0
50,000
100,000
150,000
200,000
250,000
FY3/15 FY3/16(plan)
70%
80%
90%
100%
Number of New Tenants Occupancy rate
Residential use Commercial use
FY3/15 FY3/16 (plan) (YoY)
New Tenants 253,391 271,000 (+6.9%)
Residential use 250,057 268,280 (+7.3%)
Commercial use 3,334 2,720 (△18.4%)
268,280
Ⅱ- 9 Strategy to recruits new tenants of 271,000 units in FY3/16(FY3/16 end occupancy rate target residential use 96.7%, commercial use 97.9%)
32
Enhance and expand the recognition of
e-heya net brand
Spread the bland by TV commercial
Approach for the potential people by application of SNS
Enhance the recognition by the golf tournament
Real estate portal websites become more convenient
Ⅱ- 9 Strategy to recruits new tenants of 271,000 units in FY3/16(FY3/16 end occupancy rate target residential use 96.7%, commercial use 97.9%)
33
Services to become more convenient for tenants
① Possible to use a credit-card to pay
move
contract money
live
rent
leave
Adjustment money
② No deposit ・Flat cleaning plan
Possible to use credit-card payment for all
■ Realize to cut down of the initial cost and adjustment money transparency
③ No guarantors service
■ Unnecessary to ask as a joint surety, smooth contract and ,moving
Ⅱ- 10 Strategy to recruits new tenants of 271,000 units in FY3/16(FY3/16 end occupancy rate target residential use 96.7%, commercial use 97.9%)
34
36.037.0 37.0
6.46.4 6.5
0
100
200
300
400
500
end of 3/14 end of 3/15 end of 3/16(plan)
0
1
2
3
4
5
6
7
8
9
10
commercial use the amout of management rent
864805
928
46.3 49.953.5
0
100
200
300
400
500
600
700
800
900
1,000
end of 3/14 end of 3/15 end of 3/16(plan)
0
10
20
30
40
50
60
70
residential use the amount of management rent
Residential use Commercial use
End of 3/14 End of 3/15 End of 3/16 (Plan)
(YoY)
843,476 901,908 964,800 (+7.0%)
Residential use 805,911 864,678 928,000 (+7.3%)
Commercial use 37,565 37,230 36,800 (△1.2%)
Back rent ratio0.09%(3/2015)
(industry average:2.9%)
Management housing(thousands)
Management housing(thousands)
rent(¥billions)
rent(¥billions)
Ⅱ- 11 Plan to manage more than 900 thousands residential use housing
Ⅲ. Shareholders return policy
36
Return to shareholders of FY3/14
+ =
80,61079,324
70,000
75,000
80,000
85,000
3/14 3/15
Number of shares issued -1.6%shares(thousands)
Ⅲ- 1 Return to shareholders (March.2014)
Gross return 80%
The amount of dividend ¥27.6bn
(Annual dividend ¥347)
payout ratio
The amount of reduction ¥44.2bn
Gross return
(Net income ¥55.2bn)
Buy-back of own shareShare retirement
¥16.6bn・1.28mn shares
Earnings ×50% 30% 80%
37
Return to shareholders of FY3/15
① Annual dividend :¥375( pre term+¥28, payout ratio )
※mid-term 185yen, term end 170yen, 40th anniversary dividend 20yen
② Buy-back of own share :¥16.8bn・1.23mn shares
Share retirement ( Earnings × )
693 710648
384
594
50.0%
52.8%
50.0%
59.6%
50.0%
82.8%80.0%
50.0%50.0%
100
300
500
700
3/11 3/12 3/13 3/14 3/15
0%
20%
40%
60%
80%
100%
EPSDividend payout ratioGross return(payuout ratio+buy-back of own share,share retirement)526.0%
Gross return 82.8%
Ⅲ- 2 Return to shareholders (March.2015)
FY
52.8%
30%
Return to shareholders of FY3/16[Plan]
① Annual dividend :¥399( pre term+¥24, payout ratio )
《 breakdown 》 mid-term ¥199term end ¥200
② Buy-back of own share : Earnings ×
Share retirement
38
693
798
594
384
648710
200
400
600
800
3/11 3/12 3/13 3/14 3/15 3/16
EPS
Ⅲ- 3 Plan for return to shareholders (March.2016)
Gross return 80%
FY
50%
30%
Ⅳ. Mid-term Plan
40
Net sales 1,601.7bn( vs 3/13 +39.0% annual growth 6.8% )
Operating income 105.0bn( vs 3/13 +27.4% annual growth 5.0% )
Net sales 1,601.7bn( vs 3/13 +39.0% annual growth 6.8% )
Operating income 105.0bn( vs 3/13 +27.4% annual growth 5.0% )
1,0871,0011,152
1,6011,5111,4311,3511,259
91.5 93.0 98.0 105.0
89773.7 81.9 82.4
0
500
1,000
1,500
2,000
3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
0
50
100
150
200
FY 3/18 Plan
(910)
Mid-term Plan
(1,120)(1,050)(975)
Ⅳ- 1 Revise Mid-term Plan (Net sales, Operating Income)
※(figures ):The figures announced at 4/14
Net sales (¥billions) Operating income (¥billions)
(297)(229)
(347) (375) (399) (432) (476)
(324)
798710
384
648
952
693
594
865
50.0%59.6%
50.0%
50.0%50.0%
50.0%
50.0%50.0%50.0%
80.0%82.8%
80.0% 80.0% 80.0%
0
100
200
300
400
500
600
700
800
900
1,000
3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
0.0%
25.0%
50.0%
75.0%
100.0%
Annual dividend EPS Dividend Payout ratio Gross return
41
● Shareholders Return Policy
① Dividend payout ratio : 50%
② buy-back of own share/retirement : Earnings × 30%
● Shareholders Return Policy
① Dividend payout ratio : 50%
② buy-back of own share/retirement : Earnings × 30%
株主総還元性向
80%
Mid –term plan
526.0%
52.8%
Ⅳ-2 Return to shareholders (EPS/dividend payout ratio・Gross return)
Gross return
80%continuance
(yen)
FY
2,6992,878
2,2482,405
1,912
1,311
1,583
2,543
27.8%
32.9% 34.3%31.0%
34.6% 34.4%38.6%
24.6% 25.6%24.1%26.6%29.6%
19.5%
32.5%
25.7% 26.0%
0
1,000
2,000
3,000
3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
0%
20%
40%
60%
Equity capital Equity ratio ROE
42
● Financial index: ROE over 20%● Financial index: ROE over 20%
Mid – term Plan
Ⅳ-3 Financial index ( Equity ratio/ROE )
Ⅴ. Appendix
44
FY3/15 FY3/14 YoYFY3/16(Plan)
Net sales 608,973 563,343 +8.1% 636,500
Construction 589,473 545,774 +8.0% 616,500
Real estate & others 19,499 17,569 +11.0% 20,000
Gross profit 171,499 172,418 △0.5% 172,400
Construction 172,283 174,406 △1.2% 172,400
Real estate & others △783 △1,988 - 0
SG & A expenses 121,353 120,368 +0.8% 125,100
Operating income 50,146 52,049 △3.7% 47,300
Ordinary income 58,990 56,825 +3.8% 74,500
Net income 34,471 33,542 +2.8% 56,000
Ⅴ- 1 Non-consolidated statement of income 〈3 / 2015〉
(¥ millions)
45
Construction business
Daito Construction Daito Steel
FY3/15 FY3/14 YoYFY3/16(Plan) FY3/15 FY3/14 YoY
FY3/16(Plan)
Net sales 5,393 5,353 +0.7% 6,000 4,793 4,538 +5.6% 4,499
Gross profit 67 165 △59.3% 153 195 266 △26.7% 191
SG&A expenses 101 122 △17.1% 92 71 75 △5.2% 75
Operating income △33 43 - 61 124 191 △35.1% 116
Ordinary income 15 102 △85.1% 122 125 191 △34.5% 117
Net income 11 60 △80.4% 75 81 118 △31.0% 77
Ⅴ- 2 Financial summaries of major subsidiaries (Construction)〈3 / 2015〉
( ¥ millions )
46
Real estate business
Daito Building Management Housecom House Leave
FY3/15 FY3/14 YoY FY3/16(Plan)
FY3/15
FY3/14
YoY FY3/16(Plan)
FY3/15
FY3/14
YoY FY3/16(Plan)
Net sales 701,157 658,017 +6.6% 745,102 8,663 8,244 +5.1% 9,120 3,688 2,360 +56.3% 6,672
Gross profit 47,271 42,572 +11.0% 49,722 8,663 8,244 +5.1% 9,120 3,273 2,249 +45.5% 6,132
SG&A expenses 14,654 12,573 +16.6% 15,706 8,123 7,909 +2.7% 8,465 514 235 +118.2% 782
Operating income 32,617 29,999 +8.7% 34,015 539 334
+61.1%
654 2,758 2,014 +37.0% 5,350
Ordinary income 33,383 30,701 +8.7% 34,779 901 736
+22.4%
953 2,773 2,043 +35.7% 5,356
Net income 19,595 18,455 +6.2% 22,860 476 402+18.5
%562 1,572 1,249 +25.9% 3,368
Ⅴ- 3 Financial summaries of major subsidiaries ( Real estate ) 〈3 / 2015〉
( ¥ millions )
47
Real estate business
Daito Building Management Housecom House Leave
FY3/15 FY3/14 YoY FY3/16(Plan)
FY3/15
FY3/14
YoY FY3/16(Plan)
FY3/15
FY3/14
YoY FY3/16(Plan)
Net sales 701,157 658,017 +6.6% 745,102 8,663 8,244 +5.1% 9,120 3,688 2,360 +56.3% 6,672
Gross profit 47,271 42,572 +11.0% 49,722 8,663 8,244 +5.1% 9,120 3,273 2,249 +45.5% 6,132
SG&A expenses 14,654 12,573 +16.6% 15,706 8,123 7,909 +2.7% 8,465 514 235 +118.2% 782
Operating income 32,617 29,999 +8.7% 34,015 539 334
+61.1%
654 2,758 2,014 +37.0% 5,350
Ordinary income 33,383 30,701 +8.7% 34,779 901 736
+22.4%
953 2,773 2,043 +35.7% 5,356
Net income 19,595 18,455 +6.2% 22,860 476 402+18.5
%562 1,572 1,249 +25.9% 3,368
Ⅴ- 4 Financial summaries of major subsidiaries ( Real estate ) 〈3 / 2015〉
( ¥ millions )
48
Other business (Financial business)
Daito Finance D.T.C
FY3/15 FY3/14 YoY FY3/16(Plan) FY3/15 FY3/14 YoY FY3/16
(Plan)
Net sales 1,071 975 +9.8% 1,099 3,662 3,451 +6.1% 3,362
Gross profit 637 580 +9.8% 791 1,568 1,476 +6.2% 1,358
SG&A expenses 115 127 △9.0% 164 14 13 +10.4% 17
Operating income 522 453 +15.1% 627 1,553 1,462 +6.2% 1,341
Ordinary income 524 453 +15.5% 627 1,563 1,458 +7.2% 1,349
Net income 329 274 +20.0% 410 1,563 1,458 +7.2% 1,349
Ⅴ- 5 Financial summaries of major subsidiaries (Others - 1)〈3 / 2015〉
( ¥ millions )
49
Other business (Other)
Care Partner Gaspal D. A. D. (M)
FY3/15 FY3/14
YoYFY3/16(Plan) FY3/15 FY
3/14YoY
FY3/16(Plan) FY3/15 FY
3/14YoY
FY3/16(Plan)
Net sales 9,276 8,758 +5.9% 9,445 25,533 23,447 +8.9% 26,450 3,022 2,671 +13.2% 3,078
Gross profit 1,312 1,107 +18.5% 935 8,259 6,445 +28.1% 9,240 1,613 1,419 +13.7% 1,517
SG&A expenses 760 572 +32.9% 832 4,849 4,168 +16.4% 5,528 1,051 925 +13.6% 1,111
Operating income 552 535 +3.2% 103 3,410 2,277 +49.7% 3,712 561 493 +13.8% 405
Ordinary income 556 533 +4.3% 103 3,452 2,353 +46.7% 3,729 112 6 +1886% 360
Net income 310 305 +1.5% 65 1,575 1,402 +12.4% 2,438 122 △120 - 322
Ⅴ- 6 Financial summaries of major subsidiaries (Others - 2)〈3 / 2015〉
( ¥ millions )
50
0
1,000
2,000
3,000
4,000
5,000
3/14 end 3/15 end 3/16 end(plan)
5,000
6,000
7,000
8,000
9,000
10,000
11,000
Sales reps Engineers Tenant recruiters Total employees (right axis)
3/14 end 3/15 end (YoY) 3/16 plan
Total employees 9,767 9,940 +173 10,600
Sales reps 3,325 3,247 △78 3,450
Engineers 2,820 3,010 +190 3,340
Tenant recruiters 1,166 1,162 △4 1,150
Ⅴ-7 Number of employees by each occupations (Non-consolidated)
51
4,766 4,712 4,692
103.9% 98.9% 99.6%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
3/13 3/14 3/15
Number
0%
50%
100%
150%
200%
250%YoY
Number YoY
3,8843,488
4,278
97.1% 90.8% 89.8%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
3/13 3/14 3/15
Number
0%
50%
100%
150%
200%
250%
YoY
Number YoY
Ⅴ- 8 Channels of orders received
Orders received by repeat & via introduction by agents
or others
Orders received from new customers
FY
52
Ⅴ- 9 Orders received by repeat
FY
※ Composition ratio =Total number of orders received
Number of orders received by repeat
from our existing customers
53
294,905341,068 328,097
17.3% 16.6%17.6%
0
100,000
200,000
300,000
400,000
500,000
2012.4-2013.2 2013.4-2014.2 2014.4-2015.2
0%
5%
10%
15%
20%
Number of construction starts (Apr.-Feb.) Daito's share (Apr.-Feb.)
Ⅴ- 10 Number of construction starts & Daito’s share
Number of construction starts
2(Ministry of Land, Infrastructure, Transport and Tourism :”Housing and Land Survey”)
54
4,369 4,083
8,0957,003
4,715
2,704
8,144(12,455)
17,134
1,469
8.9%
17.7%
32.3%
26.6%
31.9%
41.8%
18.3%
14.3%13.3%(10.9%)
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Hokka
ido
Toho
ku
Kanto
Kosh
inestu
Toka
i
Kink
i
Chugo
ku
Shiko
ku
Kyus
hu
-20%
-10%
0%
10%
20%
30%
40%
50%
Share
Number of construction starts (Apr.-Feb.) Daito's share(Apr.-Feb.)
Daito’s Ave.17.6%
Ⅴ- 11 Number of construction starts by area & Daito’s share
Number of construction starts
55
Rent basis occupancy rate
2011(Mar.) 2012(Mar.) 2013(Mar.) 2014(Mar.) 2015Mar.) YoY
Residential use (%) 96.0% 96.8% 96.7% 96.9% 96.7% △0.2p
Commercial use (%) 92.1% 94.1% 95.5% 96.8% 97.9% +1.1p
Ⅴ- 12 Rent basis occupancy rate
56
805747
864
46.343.0
49.9
0
100
200
300
400
500
600
700
800
900
3/13 3/14 3/15
0.0
10.0
20.0
30.0
40.0
50.0
60.0
Number of units under management
Aggregate amount of rent (monthly ave.)
37.237.9 37.5
6.46.4 6.4
0
100
200
300
400
500
3/13 4/14 3/15
0.0
2.0
4.0
6.0
8.0
10.0
Number of units under management
Aggregate amount of rent (monthly ave.)
Ⅴ- 13 Number of units under management & aggregate amount of rent
Residential use Commercial use
Managing units (thousands)
Rent (¥billions)
Managing units (thousands)
Rent (¥billions)
57
0%
12%
24%
36%
48%
60%
72%
12/3 13/3 14/3 15/3
Regional Banks City Banks
Shinkin Banks Agricultural/Fisheries Cooperative
Japan Housing Finance Agency Others
City Banks,13.80%
ShinkinBanks,15.20%
RegionalBanks,53.10%
Others,2.00%Japan
HousingFinanceAgency,9.10%
Agricultural/Fisheries
Cooperative, 6.80%
Ⅴ- 14 Customer’s financing channel
Shares of financial institutions (Construction starts basis)
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