First Three Quarters of the Fiscal year ending March 31, 2018 Earnings Announcement

Transcription

1 First Three Quarters of the Fiscal year ending March 31, 2018 Earnings Announcement Sotetsu Holdings, Inc. February 1, TSE securities code: 9003

2 Financial Highlights (Balance Sheet) Consolidated balance sheet As of March 31, 2017 As of December 31, 2017 Amount % Current assets 73,808 57,841-15, Cash and deposits: -9,060 Non-current assets 505, ,276 +1, Total assets 579, ,117-14, Current liabilities 143, ,752-31, Current portion of bonds: -12,000 Short-term loans payable: -4,593 Non-current liabilities 307, ,384 +5, Long-term loans payable: +6,711 Total liabilities 451, ,136-26, Total net assets 128, , , Total liabilities and net assets 579, ,117-14, Equity 125, , , Equity ratio (%) Interest-bearing debt 309, ,917-9,

3 Financial Highlights (Statement of Income) Consolidated statement of income Operating revenue 191, ,647 Operating income 25,574 26,100 Ordinary income 23,398 24,593 Profit attributable to owners of parent 14,824 15,681 +6,297 Transportation: +251, Merchandising: -366 [+3.3%] Real estate: +5,244, Hotel: +1,673, Other: Transportation: -81, Merchandising: -258 [+2.1%] Real estate: +817, Hotel: +99, Other: ,195 Non-operating income: +21 [+5.1%] Non-operating expenses: [+5.8%] Net income per share yen yen yen The Company conducted a consolidation of shares at a ratio of one share for every five shares of common stock on October 1, 2017, and the effect of the consolidation of shares is taken into account for net income per share. 2

4 Segment Information (Transportation) Transportation Operating revenue 29,380 29,631 Operating income 7,409 7, Increase in revenue due to a rise in the number of [+0.9%] passengers transported by train -81 Decrease in income due to a rise in depreciation and an increase in costs such as electric power costs [-1.1%] Railway No. of passengers (1,000) Non-commuter Commuter Total 60, , ,247 60, , , % +0.9% +0.8% Commuter: Regular +1.1% Student +0.2% Passenger revenue (million yen) Non-commuter Commuter Total 11,802 11,677 23,479 11,878 11,799 23, % +1.0% +0.8% Commuter: Regular +1.1% Student +0.4% 3

5 Segment Information (Merchandising) Merchandising Operating revenue 82,818 82,452 Operating income 1,869 1, [-0.4%] -258 [-13.8%] Decrease in revenue due to the transfer of the sand and gravel business Decrease in income due to a rise in expenses in the supermarket business Supermarket sales growth (existing stores): +0.7% 4

6 Segment Information (Real Estate) Real estate Operating revenue 43,572 48,817 Operating income 11,713 12,531 Sales/Leasing breakdown Real estate sale Operating revenue Operating income Real estate lease Operating revenue Operating income 14,520 1,215 29,239 10,497 18,646 1,668 30,360 10,862 +5,244 [+12.0%] +817 [+7.0%] +4, , Increase in revenue due to a rise in the sales price per housing unit Increase in income due to higher revenue Increase in revenue due to revenue from the sale of land for business Increase in income due to factors contributing to an increase in revenue Number of condominiums and houses sold Condominiums Houses Total (Major properties delivered) The Parkhouse Nishi Shinjuku Tower 60 and Gracia City Kawasaki Daishigawara 5

7 Segment Information (Hotel) Hotel Operating revenue 29,227 30,901 Operating income 4,039 4,138 +1,673 [+5.7%] +99 [+2.5%] Increase in revenue due to the openings of Sotetsu FRÉSA INN Ginza 7-chome, Sotetsu FRÉSA INN Kyoto Shijo-karasuma, Sotetsu FRÉSA INN Kyoto Station Hachijo-guchi and Sotetsu FRÉSA INN Tokyo Roppongi, among others Room occupancy rate/ Average revenue per room Room occupancy rate (%) Average revenue per room (Yen) Sotetsu FRÉSA INN pp SUNROUTE* pp Yokohama Bay Sheraton pp Sotetsu FRÉSA INN 9,549 9,666 SUNROUTE* 10,456 10,255 Yokohama Bay Sheraton 18,281 19, [+1.2%] -201 [-1.9%] +1,586 [+8.7%] * The room occupancy rate and average revenue per room for SUNROUTE are for directly operated hotels and hotels managed for other companies, and do not include franchised hotels. 6

8 Segment Information (Other) Other Operating revenue 15,794 15,501 Operating income Decrease in revenue due to the transfer of the day-care [-1.9%] center business -14 [-3.0%] 7

9 for (Statement of Income) s for consolidated statement of income (Actual) () Actual as of Nov Nov. Operating revenue 253, ,000 +8,636 Transportation: +383, Merchandising: -3,266 [+3.4%] Real estate: +9,194, Hotel: +1,960, Other: , [-0.2%] Operating income 30,510 29, Transportation: -92, Merchandising: -62 Real estate: +10, Hotel: -314, Other: -155 [-2.3%] 29, [+2.8%] Ordinary income 27,558 27, Non-operating income: +9 Non-operating expense: -842 [+0.5%] 26,700 +1,000 [+3.7%] Profit attributable to owners of parent 17,061 17, [+0.2%] 16, [+3.0%] Net income per share yen yen yen The Company conducted a consolidation of shares at a ratio of one share for every five shares of common stock on October 1, 2017, and the effect of the consolidation of shares is taken into account for net income per share yen yen Capital expenditure 20,678 41, ,480 Transportation: +2,004, Merchandising: +1,112 [+99.0%] Real estate: +16,413, Hotel: +482, Other: ,158 [ %] Depreciation 16,011 16, [+2.0%] 16, [+0.1%] 8

10 for (Transportation) Transportation (Actual) () Actual as of Nov Nov. Operating revenue 38,916 39,300 Operating income 8,392 8, [+1.0%] Increase in revenue due to a rise in the number of passengers transported by train -92 Decrease in income due to a rise in depreciation and an increase in costs such as electric power costs [-1.1%] 39,200 8, [+0.3%] +100 [+1.2%] Capital expenditure 8,559 10,563 Depreciation 6,134 6,473 Railway No. of passengers (1,000) Non-commuter Commuter Total Passenger revenue (million yen) Non-commuter Commuter Total 80, , ,077 15,674 15,477 31,151 80, , ,904 15,773 15,639 31,412 +2,004 [+23.4%] +338 [+5.5%] +0.4% +1.0% +0.8% +0.6% +1.1% +0.8% (Details of expenditure for FY2018/3 forecasts) Replacement of trains, renewal of railway vehicles and stations in the Design Brand-up Project, extension work on Futamatagawa Station, renewal of Yayoidai Station, Hoshikawa-Tennocho elevated tracks project, etc. Commuter: Regular +1.2% Student +0.3% Commuter: Regular +1.1% Student +0.9% 10,563 6,356 80, , ,261 15,726 15,582 31,309 [ %] +117 [+1.8%] +0.2% +0.3% +0.3% +0.3% +0.4% +0.3% 9

11 for (Merchandising) Merchandising (Actual) () Actual as of Nov Nov. Operating revenue 109, ,000-3,266 [-3.0%] Decrease in revenue due to the transfer of the sand and gravel business The supermarket business recorded an increase in revenue due to a rise in sales 105, [+0.7%] Operating income 2,262 2, [-2.8%] Decrease in income due to the transfer of the sand and gravel business 2, [+4.8%] Capital expenditure 912 2,024 +1,112 [+121.9%] (Details of expenditure for FY2018/3 forecasts) Establishment of new Rosen stores (Yayoidai Ekimae Store), etc. 2,024 - [-%] Depreciation [+2.7%] [-0.2%] Supermarket sales growth (existing stores): +0.8% 10

12 for (Real Estate) Real estate (Actual) () vs. Actual as of Nov Nov. Operating revenue 57,905 67,100 +9,194 [+15.9%] 68, [-1.3%] Operating income 14,989 15, [+0.1%] 14, [+2.7%] Capital expenditure 6,437 22, ,413 [+255.0%] (Details of expenditure for FY2018/3 forecasts) Redevelopment of the area around the south exit of Futamatagawa Station, renovation of the streets in front of Yayoidai Station 22,851 [ %] Depreciation 6,798 6, [+1.4%] 6, [-1.2%] Sales/Leasing breakdown Real estate sale Operating revenue Operating income 19,271 1,686 27,600 2,100 +8, Increase in revenue due to a rise in the number of condominiums sold 28,500 1, Real estate lease Operating revenue Operating income 38,844 13,303 39,800 12, Increase in revenue due to revenue from the sale of land for business Decrease in income due to an increase in expenses 39,700 12, Number of condominiums and houses sold (Actual) () vs. Actual as of Nov Nov. Condominiums (Major properties) The Parkhouse Nishi Shinjuku Tower Houses Total

13 for (Hotel 1) Hotel Operating revenue Operating income (Actual) () 38,839 40,800 4,414 4,100 vs. Actual +1,960 Increase in revenue due to the openings of new hotels (7 hotels including [+5.0%] Sotetsu FRÉSA INN Kyoto Shijo-karasuma ) -314 Decrease in income mainly due to a decline in sales in existing hotels and [-7.1%] increase in expenses for renovations and preparations for new hotels as of Nov ,600 3,600 Nov [+0.5%] +500 [+13.9%] Capital expenditure 4,632 5, Depreciation 1,918 1,978 [+10.4%] +59 [+3.1%] (Details of expenditure for FY2018/3 forecasts) Establishment of new hotels such as Sotetsu FRÉSA INN Osaka Yodoyabashi Kitahama and Sotetsu FRÉSA INN Ueno Okachimachi 5,115 1,985 - [-%] -7 [-0.4%] Room occupancy rate/ Average revenue per room Room occupancy rate (%) Average revenue per room (Yen) (Actual) () Actual 12 as of Nov Nov. Sotetsu FRÉSA INN pp pp SUNROUTE* pp pp Yokohama Bay Sheraton pp pp Sotetsu FRÉSA INN 9,478 9,499 SUNROUTE* 10,353 10,240 Yokohama Bay Sheraton 18,190 19, [+0.2%] ,484 10, [+0.2%] +39 [-1.1%] [+0.4%] * The room occupancy rate and average revenue per room for SUNROUTE are for directly operated hotels and hotels managed for other companies, and do not include franchised hotels. +1,690 [+9.3%] 19, [+0.6%]

14 for (Hotel 2) Accommodation-specific hotels to open FRÉSA INN Name (* shows properties owned by the Sotetsu Group) Location Rooms Opening Date #24 Sotetsu FRÉSA INN Tokyo Kanda Chiyoda-ku, Tokyo 115 March 15, 2018 Preparing for opening (25) Preparing for opening (26) Sotetsu FRÉSA INN Osaka Yodoyabashi Kitahama* (provisional name) Sotetsu FRÉSA INN Osaka Shinsaibashi* (provisional name) Chuo-ku, Osaka City 243 (planned) Spring 2018 Chuo-ku, Osaka City 175 (planned) Winter 2018 Preparing for opening (27) Sotetsu FRÉSA INN Osaka Namba (provisional name) Naniwa-ku, Osaka City 276 (planned) Summer 2019 Preparing for opening (28) Preparing for opening (29) <Simplified private room hotel> Sotetsu FRÉSA INN Nagoya Station-front (provisional name) Sotetsu FRÉSA INN Kobe Sannomiya* (provisional name) Nakamura-ku, Nagoya City 250 (planned) Spring 2020 Chuo-ku, Kobe City 271 (planned) Autumn 2019 Preparing for opening (Not yet determined)* Chukyo-ku, Kyoto City 147 (planned) Autumn 2018 <Overseas> Preparing for opening (Not yet determined) Seoul Special City, South Korea 430 February 15,

15 for (Other) Other (Actual) () Actual as of Nov Nov. Operating revenue 21,416 21, [+0.4%] 21, [-1.8%] Operating income Decrease in income mainly due to an increase in expenses for the water filter business [-43.8%] [-60.0%] Capital expenditure [+344.7%] [-%] Depreciation [-50.2%] [-3.0%] 14

16 s for results of operations are based on information that was available when this presentation was released. Actual performance may differ from these forecasts for a number of reasons.