Ten-year Consolidated Financial Summary

Transcription

1 Ten-year Consolidated Financial Summary As of or for the consolidated fi scal years ended March 31 J-GAAP Operating Results Operating revenue 4,946 16,541 16,908 24,508 55,683 Operating profit (loss) 240 4,165 4,324 5,539 12,005 Ordinary profit (loss) 296 4,303 4,323 5,486 13,704 Profit (loss) attributable to owners of parent 306 4,108 3,233 34,500 13,309 Cash Flows Net cash provided by (used in) operating activities (2,847) (6,819) 9,234 (16,489) 9,378 Net cash provided by (used in) investing activities 1,997 (34) (310) (12,424) 36,764 Net cash provided by (used in) financing activities ,067 (908) 24,165 (2,441) Cash and cash equivalents at end of period 2,918 6,131 14,148 9,410 56,288 Financial Position Total assets 39,811 37,999 37, , ,706 Net assets 6,846 11,005 13,961 49,471 70,895 Equity capital 6,837 10,967 13,894 48,067 63,625 Per Share Information Net profit (loss) per share Diluted net profit per share Net assets per share , Dividends per share Key Management Indices, etc. Capital adequacy ratio (%) Return on equity (%) Return on assets (%) Number of employees Total number of outstanding shares (thousand shares) ,148 2,105 27,652 29,752 30,009 30,225 63,162 Notes: 1. The Company implemented a two-for-one split of its common shares on June 1, The above per share figures have been adjusted to reflect this stock split. 2. Fully diluted net profit is not shown because no shares with a potential dilution effect existed in 2009, and although shares with potential dilution existed in 2016 and 2017, the Company recorded a net loss per share. 3. The 2016 dividend included a 2 yen per share commemorative dividend. 4. The J Trust Group adopted International Financial Reporting Standards (IFRS) from Ratio of profit to equity attributable to owners of parent is not shown in 2017 and 2018 because the Company recorded a net loss. 6. The Group sold all shares of ADORES, Inc. in 2018, and excluded ADORES from the scope of consolidation, and classified ADORES as discontinued operations. Related figures in 2017 are restated to reflect this change. 42 J Trust Co., Ltd. Annual Report 2018

2 ,926 63,281 75,478 85,031 13,745 (5,217) (4,114) (5,769) 13,351 (2,385) (4,678) (6,747) 11,145 10,143 (5,712) (9,876) IFRS Operating Results Operating revenue 66,453 76,266 Operating profit 606 2,355 Loss attributable to owners of parent (1,270) (731) 11,434 15,452 (32,435) (14,434) (17,775) (15,148) (7,896) (4,774) 74,464 (20,593) 13,026 10, , ,060 88,226 78,650 Cash Flows Net cash provided by (used in) operating activities (12,413) 4,581 Net cash provided by (used in) investing activities (4,468) (7,603) Net cash provided by (used in) financing activities 10,612 7,798 Cash and cash equivalents at end of period 80,666 84, , , , , , , , , , , , ,752 Financial Position Total assets 619, ,961 Total equity 155, ,776 Total equity attributable to owners of parent 150, , (49.65) (92.82) , , , , Per Share Information Basic earnings per share (11.94) (7.11) Diluted earnings per share (11.94) (7.11) Equity per share attributable to owners of parent 1, , Dividends per share Key Management Indices, etc. Ratio of equity attributable to owners of parent to total assets (%) Ratio of profit to equity attributable to owners of parent (%) Ratio of profit before income taxes to total assets (%) ,322 3,986 3,226 2,751 Number of employees 2,751 2, , , , ,536 Total number of outstanding shares (thousand shares) 112, ,596 J Trust Co., Ltd. Annual Report

3 Consolidated Financial Statements Consolidated Statements of Financial Position As of March 31 Assets IFRS transition date (April 1, 2016) Cash and cash equivalents 87,137 80,666 84,723 Trade and other receivables 74,875 78,416 92,723 Marketable securities for banking business 26,198 30,459 37,159 Loans by banking business 218, , ,400 Operational investment securities 13,057 21,494 3,242 Marketable securities Other financial assets 33,017 38,066 46,300 Investments accounted for using the equity method Inventories 4,382 6,848 6,937 Assets held for sale 933 4,199 1,807 Property, plant and equipment 5,823 5,622 3,028 Investment property 2,919 2, Goodwill 32,517 32,140 29,578 Intangible assets 3,905 3,459 3,087 Deferred tax assets 1,726 1,476 1,502 Other assets 2,421 2,971 2,505 Total assets 508, , ,961 Liabilities Trade and other payables 6,589 8,110 9,811 Deposits by banking business 271, , ,509 Bonds and borrowings 52,825 72,139 78,727 Other financial liabilities 5,565 8,182 5,272 Income taxes payable 768 1, Provisions 1,940 2, Deferred tax liabilities 1, Other liabilities 5,766 6,963 7,029 Total liabilities 346, , ,184 Equity Share capital 53,616 53,630 53,638 Capital surplus 51,581 52,743 52,713 Treasury shares (406) (7,685) (7,685) Retained earnings 52,196 49,504 47,555 Other components of equity 132 2,091 (1,854) Total equity attributable to owners of parent 157, , ,366 Non-controlling interests 5,336 5,628 6,409 Total equity 162, , ,776 Total liabilities and equity 508, , , J Trust Co., Ltd. Annual Report 2018

4 Consolidated Statements of Profit or Loss For the fi scal years ended March 31, 2017 and Continuing operations Operating revenue 66,453 76,266 Operating expenses 38,116 50,224 Selling, general and administrative expenses 26,431 25,493 Other income 1,254 2,258 Other expenses 2, Operating profit 606 2,355 Finance income Finance costs 1,320 1,974 Share of loss of investments accounted for using the equity method (2) (12) Profit (loss) before income taxes (433) 416 Income taxes 1,136 1,015 Loss from continuing operations (1,570) (598) Discontinued operations Profit from discontinued operations Profit (loss) (1,065) 77 Profit (loss) attributable to: Owners of parent (1,270) (731) Non-controlling interests Profit (loss) (1,065) 77 Earnings (loss) per share (attributable to owners of parent) Basic earnings (loss) per share (yen) Continuing operations (14.06) (7.69) Discontinued operations Total (11.94) (7.11) Diluted earnings (loss) per share (yen) Continuing operations (14.06) (7.69) Discontinued operations Total (11.94) (7.11) Consolidated Statements of Comprehensive Income For the fi scal years ended March 31, 2017 and Profit (loss) (1,065) 77 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of defined benefit plans 151 (52) Total of items that will not be reclassified to profit or loss 151 (52) Items that may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations 600 (2,987) Net change in fair values of available-for-sale financial assets 1,237 (857) Share of other comprehensive income of investments accounted for using the equity method (0) (11) Total of items that may be reclassified subsequently to profit or loss 1,838 (3,855) Other comprehensive income, net of tax 1,989 (3,908) Comprehensive income 923 (3,830) Comprehensive income attributable to: Owners of parent 688 (4,677) Non-controlling interests Comprehensive income 923 (3,830) J Trust Co., Ltd. Annual Report

5 Consolidated Statements of Changes in Equity For the fi scal years ended March 31, 2017 and 2018 Share capital Capital surplus Treasury shares Retained earnings Other components of equity Total equity attributable to owners of parent Noncontrolling interests Total equity Balance as of April 1, ,616 51,581 (406) 52, ,121 5, ,458 Profit (loss) (1,270) (1,270) 204 (1,065) Other comprehensive income 1,958 1, ,989 Total comprehensive income (1,270) 1, Issuance of new shares Dividends of surplus (1,401) (1,401) (1,401) Purchase of treasury shares (7,279) (7,279) (7,279) Other 0 (20) (19) (19) Total contributions by and distributions to owners (7,279) (1,421) (8,672) (8,672) Changes in ownership interest in subsidiaries 1,147 1, ,290 Dividends to non-controlling interests (79) (79) Other (6) (6) Total changes in ownership interest in subsidiaries 1,147 1, ,204 Total transactions with owners 13 1,161 (7,279) (1,421) (7,525) 57 (7,468) Balance as of March 31, ,630 52,743 (7,685) 49,504 2, ,284 5, ,913 Profit (loss) (731) (731) Other comprehensive income (3,945) (3,945) 37 (3,908) Total comprehensive income (731) (3,945) (4,677) 847 (3,830) Issuance of new shares Dividends of surplus (1,235) (1,235) (1,235) Purchase of treasury shares (0) (0) (0) Other (24) 17 (7) (7) Total contributions by and distributions to owners 8 (16) (0) (1,218) (1,226) (1,226) Changes in ownership interest in subsidiaries (0) (0) Dividends to non-controlling interests (79) (79) Other (13) (13) 13 (0) Total changes in ownership interest in subsidiaries (13) (13) (66) (79) Total transactions with owners 8 (29) (0) (1,218) (1,240) (66) (1,306) Balance as of March 31, ,638 52,713 (7,685) 47,555 (1,854) 144,366 6, , J Trust Co., Ltd. Annual Report 2018

6 Consolidated Statements of Cash Flows For the fi scal years ended March 31, 2017 and Cash flows from operating activities Profit (loss) before income taxes (433) 416 Profit before income taxes from discontinued operations Depreciation and amortization 2,636 2,456 Impairment losses Interest and dividend income (46,667) (53,986) Interest expenses 14,526 16,833 Other (profit) loss 2,649 (371) Decrease (increase) in trade and other receivables (10,805) (11,644) Increase (decrease) in deposits by banking business 86,236 49,354 Net decrease (increase) in loans by banking business (87,500) (42,789) Decrease (increase) in operational investment securities (6,619) 3,615 Increase (decrease) in trade and other payables 4, Other (3,018) 1,180 Subtotal (43,428) (33,418) Interest and dividend income received 46,530 56,177 Interest paid (13,310) (16,595) Income taxes paid (1,922) (2,231) Income taxes refund 1, Business structure improvement expenses paid (1,772) Net cash provided by (used in) operating activities (12,413) 4,581 Cash flows from investing activities Purchase of investments accounted for using the equity method (171) Decrease (increase) in time deposits Purchase of property, plant and equipment, and investment property (1,843) (1,474) Proceeds from sales of property, plant and equipment, and investment property 1, Purchase of intangible assets (1,537) (794) Purchase of marketable securities for banking business (102,457) (106,170) Proceeds from sale of marketable securities for banking business 73,739 97,229 Proceeds from redemption of marketable securities for banking business 24, Proceeds from acquisition of subsidiaries 46 Proceeds from sale of subsidiaries 100 2,474 Payments for sales of shares of subsidiaries (49) Other 785 (263) Net cash provided by (used in) investing activities (4,468) (7,603) Cash flows from financing activities Net increase (decrease) in notes discounted (464) (96) Net increase (decrease) in short-term borrowings (4,635) 4,112 Net increase (decrease) in short-term bonds payable 14,959 5,915 Repayments of long-term borrowings (10,751) (18,938) Proceeds from long-term borrowings 26,189 17,850 Redemption of bonds (7,446) (6,577) Proceeds from issuance of bonds 470 7,060 Repayments of lease obligations (352) (233) Payments for purchase of treasury shares (7,279) (0) Proceeds from exercise of employee share options 15 8 Dividends paid (1,401) (1,235) Dividends paid to non-controlling interests (79) (79) Proceeds from partial sales of interests in subsidiaries to non-controlling interests 1,345 Other Net cash provided by (used in) financing activities 10,612 7,798 Net increase (decrease) in cash and cash equivalents (6,269) 4,776 Cash and cash equivalents at beginning of period 87,137 80,666 Effect of exchange rate changes on cash and cash equivalents (201) (718) Cash and cash equivalents at end of period 80,666 84,723 J Trust Co., Ltd. Annual Report

7 Statement of Financial Position of Principal Subsidiaries As of March 31, 2018 and 2017 Nihon Hoshou Partir Servicer J TRUST Card JT Chinae Savings Bank JT Savings Bank 2018 (a) Cash and deposits 7, ,285 17,410 (b) Loan balance 3, ,239 94,172 Commercial notes 953 Accounts receivable operating loans 2,504 9 Loans by banking business 182,239 94,172 (c) Advances paid installment 2,274 (d) Purchased receivables 11,370 1,399 (e) Size of guarantees 141,881 (f) Operational investment securities (g) Deposits by banking business 185,511 98,640 (h) Interest-bearing liabilities 5, ,449 1,998 (i) Equity attributable to owners of parent 17,869 1,126 16,100 16,333 9,887 (j) Balance of NPL ,935 2,949 (k) Allowance for doubtful accounts ,568 2,104 [1] Allowance for doubtful accounts (for loan balance) 108 8,545 2,092 NPL ratio (gross) (j) / (b) 10.6% 0.0% 6.0% 3.1% NPL ratio (net) ((j) [1]) / (b) 7.5% 0.0% 1.3% 0.9% [2] Allowance for doubtful accounts (for advances paid installment) 30 [3] Allowance for doubtful accounts (for others) (a) Cash and deposits 7, ,146 13,730 (b) Loan balance 4, ,994 68,191 Commercial notes 1,164 Accounts receivable operating loans 3, Loans by banking business 173,994 68,191 (c) Advances paid installment 2,718 (d) Purchased receivables 10,425 1,126 (e) Size of guarantees 85,975 (f) Operational investment securities (g) Deposits by banking business 179,160 71,509 (h) Interest-bearing liabilities 5, ,282 2,008 (i) Equity attributable to owners of parent 16,846 1,169 16,058 14,706 8,728 (j) Balance of NPL 364 9,682 2,316 (k) Allowance for doubtful accounts ,307 1,564 [1] Allowance for doubtful accounts (for loan balance) 116 8,283 1,552 NPL ratio (gross) (j) / (b) 8.2% 5.6% 3.4% NPL ratio (net) ((j) [1]) / (b) 5.6% 0.8% 1.1% [2] Allowance for doubtful accounts (for advances paid installment) 15 [3] Allowance for doubtful accounts (for others) Note: Above figures were disclosed in May J Trust Co., Ltd. Annual Report 2018

8 (Millions of yen, %) JT Capital TA Asset Management Bank JTrust Indonesia JTRUST INVESTMENTS INDONESIA JTRUST ASIA Other/Adjustments Consolidated 6,824 4,415 11, ,135 2,720 84,723 57,260 5,723 90,791 (11,566) 422,085 (133) ,260 5,723 (2,011) 63,485 90,791 (9,423) 357, ,274 2, ,332 3, ,696 3, , ,588 (230) 403,509 48,544 4,266 2,072 13,566 77,907 14,218 11,433 8, ,694 19, ,366 3,887 2,337 2, ,821 2,112 2,068 8,022 1, ,214 2,104 2,065 3,807 (64) 18, % 40.8% 2.6% 5.4% 3.1% 4.8% 0.0% 1.0% ,215 1, ,526 10,022 4,541 13, ,494 (719) 80,666 46,182 5,866 89,630 (9,411) 378,892 (236) ,182 5,866 (5,505) 49,818 89,630 (3,670) 328, ,732 2,029 2, ,542 3, ,084 21, , ,081 (288) 364,462 41,476 4,477 3,275 11,842 71,222 13,942 11,200 7, ,079 24, ,284 2,413 2,495 7, ,261 1,207 2,100 11, ,564 1,192 2,083 6, , % 42.5% 8.6% 6.7% 2.6% 7.0% 1.0% 1.4% , ,484 J Trust Co., Ltd. Annual Report

9 Statement of Profit or Loss of Principal Subsidiaries For the fi scal year ended March 31, 2018 Nihon Hoshou Partir Servicer J TRUST Card JT Chinae Savings Bank JT Savings Bank Operating revenue 7,987 1, ,064 7,776 Discount revenue 65 Interest on loans 1, Book value adjustment gain/loss (purchased receivables) Collection from purchased receivables Installment payment paying for commission 406 Guarantee commission 2,041 Sales of real estate business 199 Gain on bad debts recovered 3, Other financial revenue (25) 18 Sales in general entertainment business Banking business revenue 21,064 7,776 Other operating revenue Operating expenses ,351 3,895 Interest on loans Cost of purchased receivables Banking business expenses 6,634 2,264 Interest on deposits 4,145 1,890 Other banking business expenses 2, Other cost of sales 87 Expenses related to bad debts ,510 1,630 Provision of allowance for doubtful accounts ,510 1,630 Bad debts expenses 24 Other operating expenses Selling, general and administrative expenses 2,772 1, ,123 2,328 Personnel expenses 1, ,001 1,102 Other expenses 1, ,122 1,225 Other income Other expenses Operating profit (loss) 4,296 (50) 54 1,592 1,566 Finance income 49 Finance costs Share of profit of investments accounted for using the equity method Share of loss of investments accounted for using the equity method Profit (loss) before taxes 4,341 (50) 54 1,576 1,566 Income taxes 573 (7) Profit (loss) 3,768 (42) 42 1,576 1,224 Profit (loss) attributable to: Owners of parent Non-controlling interests Note: Above figures were disclosed in May J Trust Co., Ltd. Annual Report 2018

10 JT Capital TA Asset Management Bank JTrust Indonesia JTRUST INVESTMENTS INDONESIA JTRUST ASIA Keynote Other/ Adjustments Consolidated 5,934 1,519 13,818 (266) 7,644 6,927 2,193 76,266 (11) 54 5, (56) 8, (1,225) 52 (368) 341 (341) ,041 5,458 1,250 6, (360) 3, ,831 2,580 1,944 1,944 13, , ,644 1,469 (2,281) 8,331 3, , ,936 5,841 3,539 50,224 1, (207) 2,363 9,372 (95) 18,175 8,377 (84) 14, (11) 3,846 5,841 3,723 9,651 1, (686) 1, ,712 1, (686) 1, , ,230 (44) 8,322 2, , ,418 25,493 1, , ,882 12,215 1, , ,540 13, ,074 2, ,106 (648) (2,784) 262 (3,970) 2,355 (3) (391) , (191) 1, ,157 (639) (4,381) 176 (4,180) (15) (14) (230) 1, ,172 (625) (4,518) 131 (3,272) 77 (731) 809 J Trust Co., Ltd. Annual Report

11 Corporate Information Corporate Profile (As of March 31, 2018) Trade name: J Trust Co., Ltd. Capital: 53,638 million Established: March 1977 Headquarters: Toranomon First Garden, Toranomon, Minato-ku, Tokyo , Japan Phone: (main) Type of business entity: Holding company Number of employees: 2,509 (consolidated) Major Consolidated Subsidiaries (As of March 31, 2018) Name Established Capital Percentage of voting rights Principal business Domestic financial business Nihon Hoshou Co., Ltd. Mar % Credit guarantee services Collection of accounts receivables Partir Servicer Co., Ltd. Aug % Collection of accounts receivables J TRUST Card Co., Ltd. Apr % Credit and consumer credit services JT Chinae Savings Bank Co., Ltd. Aug ,313 (KRW71.7 billion) 100% Savings bank business Financial business in South Korea JT Savings Bank Co., Ltd. Dec JT Capital Co., Ltd. Dec ,798 (KRW99.9 billion) 11,739 (KRW108 billion) 100% Savings bank business 100% Installment loan and leasing business TA Asset Management Co., Ltd. June (KRW8.7 billion) 100% Collection of accounts receivables Financial business in Southeast Asia PT Bank JTrust Indonesia Tbk. Dec PT JTRUST INVESTMENTS INDONESIA June ,654 (IDR12.2 trillion) 573 (IDR61.2 billion) 97.19% Banking business 99.15% Collection of accounts receivables General entertainment business Real estate business Highlights Entertainment Co., Ltd. Aug % Keynote Co., Ltd. July % Development, production, and sales of amusement machines, etc. Sales and brokerage of real estate Renovation of existing housing KeyHolder, Inc. Dec , % Property asset business Investment business JTRUST ASIA PTE. LTD. Oct ,856 (SGD375 million) 100% Investment business and management and support business for investees Other business Keynote Co., Ltd. July % Commercial facility construction J Trust System Co., Ltd. May % IT system business 52 J Trust Co., Ltd. Annual Report 2018

12 Investor Information As of March 31, 2018 Share Information Number of authorized shares: 240,000,000 Number of issued and outstanding shares: 112,596,710 Number of shareholders: 15,855 Share Ownership Individuals and others: 46,181,582 (44.8%) Other companies: 5,202,684 (5.0%) Financial institutions: 3,768,500 (3.7%) Foreign companies, etc.: 44,376,632 (43.1%) Financial instruments business operators: 3,468,916 (3.4%) Major Shareholders (Top 10 shareholders) Name Number of shares held Shareholding ratio (%) FUJISAWA PTE. LTD. 21,197, Nobuyoshi Fujisawa 17,509, TAIYO HANEI FUND, L.P. 5,131, STATE STREET BANK AND TRUST COMPANY ,609, GOLDMAN SACHS INTERNATIONAL 3,820, SAIKYO LEASING CORPORATION 2,890, Japan Trustee Services Bank, Ltd. (trust account 9) 2,211, TAIYO FUND, L.P. 2,054, MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB 2,000, Japan Trustee Services Bank, Ltd. (trust account) 1,233, Note: The share ownership and shareholding ratio are based on the number of outstanding shares excluding 9,598,396 treasury shares. Stock listing: Tokyo Stock Exchange, Second Section Local code: 8508 Shareholder registry administrator and special account manager: Accounting auditor: Contact: Mitsubishi UFJ Trust and Banking Corporation Securities Agency Division 1-1 Nikkouchou, Fuchu-shi, Tokyo, Japan Phone: (toll-free within Japan) YUSEI Audit & Co.* *YUSEI Audit & Co. merged with Grant Thornton Taiyo LLC (surviving audit fi rm) on July 2, Public Relations & Investor Relations Division, Corporate Planning Department J Trust Co., Ltd. Toranomon First Garden, Toranomon, Minato-ku, Tokyo , Japan Phone: (main) Website J Trust s latest fi nancial reports and news releases are available on the Investor Relations website: J Trust Co., Ltd. Annual Report