Keihan Holdings Co.,Ltd. · TSE:9045
Keihan Holdings Co.,Ltd — Keihan Electric Railway — FY2014 Earnings Presentation
31 slides from Keihan Holdings Co.,Ltd's earnings presentation, May 16, 2014
Slide 1: FY2014 Financial Results Presentation
FY2014 (Fiscal year ended March 31, 2014) Financial Results Presentation May 16, 2014 Keihan Electric Railway Co., Ltd. (Tokyo Stock Exchange 1st / Securities Code: 9045 http://www.keihan.co.jp/) [Notes on forecasts] Descriptions of business forecasts and future prospects are based on current inform
Slide 2: Overview of FY2014 Financial Results
Overview of FY2014 Financial Results
Slide 3: Consolidated Statements of Income
Consolidated Statements of Income (Millions of yen) FY2013 FY2014 Change Main factors of changes Oct 2013 Results Results Estimate Operating revenue 279,156 289,203 10,047 Transportation +333, Real estate +9,230, Retail -797, 280,500 (3.6%) Leisure and service +1,342, Others +149 Operating income 23
Slide 4: Consolidated Balance Sheets
Consolidated Balance Sheets (Millions of yen) FY2013 FY2014 Change Main factors of changes Results Results Current assets Land and buildings for sale +7,310 134,596 147,216 12,620 Cash and deposit +3,028 Fixed assets Buildings and structures +8,572 518,866 523,965 5,099 Land -3,423 Total assets 653,
Slide 5: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Millions of yen) FY2013 FY2014 Change Main factors of changes Results Results Income before income taxes +3,931 Operating cash flows 43,901 29,573 -14,328 Change in inventories -9,980 Change in notes and accounts receivable -6,857 Change in proceeds from sales
Slide 6: Segment Information
Segment Information (Millions of yen) FY2013 FY2014 Oct 2013 Change Change (%) Results Results Estimate Operating revenue 279,156 289,203 10,047 3.6% 280,500 Transportation 89,328 89,661 333 0.4% 88,800 Real estate 78,948 88,179 9,230 11.7% 81,100 Retail 96,224 95,427 -797 -0.8% 95,000 Leisure and s
Slide 7: Segment Information (Breakdown)
Segment Information (Breakdown) [Consolidated subsidiaries] 38 companies (Keihan Electric Railway covers both the transportation business and the real estate business) [Equity method affiliates] 2 companies Transportation Keihan Electric Railway Co., Ltd., Keifuku Electric Railroad Co., Ltd., Keihan
Slide 8: Results of Transportation
Results of Transportation (Millions of yen) FY2013 FY2014 Change Oct 2013 Change Main factors of changes Results Results (%) Estimate Railway 72,281 (+344) Operating revenue 89,328 89,661 333 0.4% Bus 26,327 (+133) 88,800 Elimination -8,947 (-144) Railway 6,406 (+307) Operating income 6,398 6,928 53
Slide 9: Results of Real Estate
Results of Real Estate (Millions of yen) FY2013 FY2014 Change Main factors of changes Oct 2013 Change (%) Results Results Estimate Real estate 69,708 (+5,125) Operating revenue 78,948 88,179 9,230 11.7% Construction 23,059 (+2,212) 81,100 Elimination -4,588 (+1,892) Real estate 13,969 (+822) Operati
Slide 10: Results of Retail
Results of Retail (Millions of yen) FY2013 FY2014 Oct 2013 Change Change (%) Main factors of changes Results Results Estimate Department store 55,366 (+366) Store 25,964 (-636) Operating revenue 96,224 95,427 -797 -0.8% Shopping mall management 10,893 (-119) 95,000 Restaurant 6,320 (-86) Department
Slide 11: Results of Leisure and Service
Results of Leisure and Service (Millions of yen) FY2013 FY2014 Change Change (%) Main factors of changes Oct 2013 Results Results Estimate Operating revenue 26,081 27,423 1,342 5.1% Hotel 23,058 (+1,538) 26,700 Leisure 4,529 (-190) Hotel 1,291 (+412) Operating income 890 1,153 262 29.5% Leisure 81 (
Slide 12: Non-consolidated Statements of Income
Non-consolidated Statements of Income (Millions of yen) FY2013 FY2014 Change Main factors of changes Change Results Results (%) Operating revenue 86,254 85,996 -258 -0.3% Railway 52,558 52,721 163 0.3% Number of passengers +0.8% Passenger transportation revenue +0.3% Subsidiary business 33,696 33,27
Slide 13: FY2015 Forecasts
FY2015 Forecasts
Slide 14: Forecast of Consolidated Business Results (1)
Forecast of Consolidated Business Results (1) (Millions of yen) FY2014 FY2015 Change Change Main factors of changes Results Forecast (%) Transportation -1,561, Real estate -6,079, Retail +4,272, Operating revenue 289,203 285,200 -4,003 -1.4% Leisure and service +576 Transportation -1,528, Real estat
Slide 15: Forecast of Consolidated Business Results (2)
Forecast of Consolidated Business Results (2) << By Segment>> (Millions of yen) FY2014 FY2015 Change Change (%) Main factors of changes Results Forecast Operating revenue 289,203 285,200 -4,003 -1.4% Railway -886 Transportation 89,661 88,100 -1,561 -1.7% Bus -407 Real estate sales -5,196 Real estate
Slide 16: Forecast of Non-Consolidated Business Results
Forecast of Non-Consolidated Business Results (Millions of yen) FY2014 FY2015 Change Change (%) Main factors of changes Results Forecast Operating revenue 85,996 85,000 -996 -1.2% Number of passengers -2.0% Railway operation 52,721 51,960 -761 -1.4% Passenger transportation revenue -1.3% Subsidiary
Slide 17: Summary of Keihan Group's Medium-term Management Plan (FY2013-2015)
Summary of Keihan Group’s Medium-term Management Plan (FY2013 – 2015)
Slide 18: Keihan Group's Medium-term Management Plan
Keihan Group’s Medium-term Management Plan (FY2013-2015) Basic Policy Building the foundations for a strong Keihan for the next 100 years Corporate Strategy Strengthen the operating structure through Revitalize areas along the extensive efficiency gains Keihan Railway lines ◆ Operating divisions ◆ P
Slide 19: Comparison of Medium-term Plan with FY2014 Results and FY2015 Forecast
Comparison of Medium-term Management Plan with FY2014 Results and FY2015 Forecast (Billions of yen) 16.0 14.0 12.0 10.0 8.0 Management Plan Medium-term Management Plan Medium-term Management Plan Medium-term 6.0 4.0 Forecast Results Results 2.0 0.00 FY2013 FY2014 FY2015 18
Slide 20: Comparison of Medium-term Plan: Annual Dividend
Comparison of Medium-term Management Plan with FY2014 Results and FY2015 Forecast Annual Dividend (Yen) 7 6 6 6 5 Management Plan Medium-term Management Plan Medium-term Management Plan Medium-term 4 3 Forecast 2 Results Results 1 0 FY 2013 FY 2014 FY 2015 ◎Build a stable earnings base in the railwa
Slide 21: Operating results versus targets (quantitative targets)
Summary of Keihan Group’s Medium-term Management Plan (FY2013 – 2015) Operating results versus targets / operating forecasts (quantitative targets) (Billions of yen) Compared to Compared to FY2015 Compared to 2013/03実績 FY2013 Results 対中期計画 medium-term management plan 2014/03実績 FY2014 Results 対中期計画 m
Slide 22: Operating results versus targets (by segment)
Summary of Keihan Group’s Medium-term Management Plan (FY2013 – 2015) Operating results versus targets / operating forecasts (by segment) (Billions of yen) [Operating revenue] (Billions of yen) [Operating income and loss] 300.0 300 30 30.0 250.0 250 25 25.0 200 200.0 20 20.0 150.0 150 15 15.0 レジャー･
Slide 23: Qualitative targets and actions
Summary of Keihan Group’s Medium-term Management Plan (FY2013 – 2015) Qualitative targets Actions Operating ○ Overhaul business approaches ○ Strengthened the operating framework through the through extensive efficiency gains Strengthen the operating structure divisions ○ Restructure and integrate es
Slide 24: Transitioning to the next medium-term management plan (FY2016-2018)
Transitioning to the next medium-term management plan (FY2016-2018) Implement measures to drive sustained growth Strengthen the operating Revitalize areas structure through extensive along rail lines Create tourism efficiency gains Revitalize areas along rail lines Next medium-term management plan (
Slide 25: Progress of FY2015 Initiatives
TOPICS Progress of FY2015 Initiatives
Slide 26: Revitalize areas along rail lines
Revitalize areas along rail lines Facility overview KUZUHA MALL second-stage development Address 15-1 Kuzuha Hanazono-cho, Hirakata-shi, Osaka Floor area Around 200,000m2 (110,000m2 before expansion) Reopened on March 12 with increased floor area Retail area Around 72,000m2 (50,000m2 before expansio
Slide 27: Business Strategy – Transportation –
Business Strategy – Transportation – Ensure safety and peace of mind Project to elevate Keihan Main line over multiple road intersections (Neyagawa-shi and Hirakata-shi) Project to elevate lines will remove the need for level crossings ⇒Drastically reduce traffic congestion and accidents and reconne
Slide 28: Business Strategy – Transportation –
Business Strategy – Transportation – Develop services tailored to the needs of customers Uji / Fushimi sightseeing campaign “Uji & Fushimi: History tied to the water source” To coincide with the completion of renovation work on Byodoin temple, a world heritage temple site, Keihan launched a year-lon
Slide 29: Business Strategy – Real estate –
Business Strategy – Real estate – Continue to focus on short-term turnover business ◆ Major property sales [Aito (Fujinomori Station area development project)] Location: 12Fukakusa Kitoro-cho, Fushimi-ku, Kyoto Completion date: February 2015, 7 above-ground floors, 271 apartments [Fine Flats Sekime
Slide 30: Business Strategy – Retail –
Business Strategy – Retail – Initiatives to enhance profitability ◆ Newly opened stores [FREST petit Kuzuha Store opened (new retail format) ] ・First store in a chain of mini supermarkets to be located in Stations (opened March 12) Location: 1F Keihan Kuzuha Station building FREST petit Opening time
Slide 31: Business Strategy – Leisure and service –
Business Strategy – Leisure and service – Initiatives to target tourism-related demand ＜Hotel business＞ ◆Use hotel refurbishments to attract more customers [Hotel Keihan Kyoto] ・Completely renovated to strengthen earnings as a flagship lifestyle hotel ・Number of rooms increased to 322 (+30) (Renovat
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