Settlement of Accounts Meeting for the First Nine Months of Fiscal Year Ending March 31, 2010

Transcription

1 Settlement of Accounts Meeting for the First Nine Months of Fiscal Year Ending March 31, 21 January 29, 21 YAMATO HOLDINGS CO., LTD. Disclaimer: This material is intended for informational purposes and is not a solicitation or offer to buy or sell securities or related financial instruments. Ultimately it is the responsibility of investors to select and buy securities and the Company assumes no responsibility for investors who act on the basis of this material.

2 Overview of First Nine Months FY 21 Operating Results

3 1. Summary of Operating Results 1. Points of first nine months FY 21 operating results Operating income for the first nine months was 61.9 billion compared with 61. billion that was forecasted in September. Takkyubin parcel volume recovered, particularly in small lot commercial, up.8% YoY. Takkyubin unit price down 2.9% YoY. Profitability was maintained by constraining costs, mainly personnel and subcontracting, when parcel volumes increased. 2. Operating income (change from Sep 29 forecast) (Billions of yen) Change Months FY 21 (Sep 29 forecast) 9 Months FY 21 Operating revenues (change from Sep 29 forecast.8 b) Decreases (8.2) Increases.2 Breakdown (Breakdown) Delivery 4.3Other.2 BIZ-Logistics 1.6 Home convenience.7 e-business.2 Financial.2 Truck Maintenance 1.2 Operating expenses (change from Sep 29 forecast 8.9 b) Decreases (8.9) Breakdown Personnel expenses 1.6 expense 2. Vehicle expenses.4 Other expenses 2.5 Eliminations 2.4

4 2. Overview of Operating Results Operating revenues 9 Months FY 21 9 Months FY 29 (Billions of yen) YoY Change Amount [%] Delivery (33.) (4.2) Non-Delivery (21.8) (11.3) Total (54.9) (5.6) Operating income [Profit margin] 6.7% 6.% - - Ordinary income [Profit margin] 6.9% 6.1% - - Net income [Profit margin] 3.7% 3.1% - -

5 3. YoY Analysis of Operating Revenues (Billions of yen) YoY 54.9 b ( 5.6%) Delivery 33.1 BIZ- Logistics 16. Home Convenience 2.1 e-business.3 Financial 1. Excl. impact of change in air freightage expense calculations, etc. ( 25.3 b), actual revenues are down 29.6 b ( 3.1%) Truck Maintenance 2.2 Other.2 1. Delivery (1) Impact of changing air freightage expense calculations, etc. 2. BIZ-Logistics 3 Financial (1) Impact of changing air freightage expense calculations (1) Trend of main sub-segments 4 Truck Maintenance (1) Trend of main sub-segments Excl. impact of change in air freightage expense calculations, etc. ( 17.5 b) actual revenues are down 15.6 b ( 2.%) Excl. impact of change in air freightage expense calculations ( 7.8 b) actual revenues are down 8.2 b ( 12.5%) 1. Takkyubin Collect.8 b ( 3.3%) 2. Shopping Credit 1.2 b ( 19.2%) 3. Other.6 b ( - %) 1. Vehicle Maintenance 1.1 ( 3.7%) Vehicle Maintenance 3.8 b Fuel Sales 4.7 b Other.2 b 2. Other 1.1 b ( %) (2) Trend of Takkyubin (2) Trend of main sub-segments *The figures inside [ ] for international total and trading logistics are actual figures that exclude the impact of changes in accounting. Parcel basis 1. International 22. b ( 38.1%) [ 14.2 b ( 28.4%)] 1. Retail: 1.1% (Individual customer: 4.9%) (breakdown shown below) (Small lot commercial:.1%) Trading Logistics: 19.2 b 43.8%) ( [ 11.4 b 31.7%)] ( 2. Large lot commercial: 4.6% Other: 2.8 b ( 2.%) 2. Domestic 2. b ( 5.4%) (breakdown shown below) Sales & Logistics: 1.6 b ( 8.9%) Medical Logistics:.3 b ( 7.9%) Multi Maintenance:.3 b ( 7.9%) Other:.2 b 1.8% 3. Eliminations 4. b ( %) (Actual after 9 Months adjustment) FY 29 9 Months FY 21

6 4. Delivery Business Recovery of Takkyubin Small Lot Commercial New consignor companies (Unit: companies) 4, 3, 315,677 35, ,757 1,5 1, Shipments from new consignor companies (Unit: 1, parcels) 1, ,425 2, 1, 3.1% 14.1% 5 8.6% 43.5% 9 Months FY 28 9 Months FY 29 9 Months FY 21 9 Months FY 28 9 Months FY 29 Parcel Dispatches Monthly Growth Trends for Regular Business Days (Unit: %) Apr-9 May-9 Jun-9 Jul-9 Aug-9 Sep-9 Oct-9 Nov-9 Dec-9 Takkyubin parcel monthly growth rate (before day-of-week adjustment) Monthly growth rate of regular business day dispatches of small lot commercial (from Takkyubin Centers) Months FY 21

7 5. YoY Analysis of Consolidated Operating Expenses (Millions of yen) Actual 9 Months FY 29 Impact of changes in accounting Excl. impact of changes in accounting 9 Months FY 21 Amount adjusted) YoY Change [ ] (adjusted) Operating revenues 976,92 25,29 951,63 921,964 (29,666) (3.1) Operating expenses 918,651 25,29 893,361 86,53 (33,38) (3.7) Personnel expenses 475,86 475,86 472,353 (3,453) (.7) Employee salary 335, , ,836 (7,437) (2.2) Retirement benefit expenses 6,36 6,36 4,935 (1,1) (18.2) Other personnel expenses 134, , ,58 5, expenses 38,79 25,17 355,62 335,964 (19,655) (5.5) Commission expenses 122, , ,639 (2,58) (2.1) Vehicle hiring expenses 19,925 19,925 15,223 (4,72) (4.3) Other subcontracting expenses 148,717 25,17 123, ,12 (12,444) (1.1) Vehicle expenses 33,857 33,857 28,93 ( 5,764) (17.) Fuel expenses 21,625 21,625 15,468 ( 6,157) (28.5) Other expenses 186, ,71 18,28 ( 6,673) ( 3.6) Depreciation 3,385 3,385 28,875 (1,51) ( 5.) Eliminations (158,624) (158,624) (156,386) 2,238 (1.4)

8 6. YoY Analysis of Delivery Business Expenses (Millions of yen) Actual 9 Months FY 29 Impact of changes in accounting Excl. impact of changes in accounting 9 Months FY 21 Amount adjusted) YoY Change [ ] (adjusted) Operating revenues 782,758 17, , ,669 (15,621) ( 2.) Operating expenses 743,44 17, ,576 74,813 ( 2,763) ( 2.9) Personnel expenses 46,886 46,886 41,34 ( 5,581) ( 1.4) Employee salary 284,26 284,26 275,252 ( 8,774) ( 3.1) Retirement benefit expenses 5,57 5,57 3,642 (1,927) ( 34.6) Other personnel expenses 117, , ,48 5, expenses 227,263 17,347 29,915 25,179 (4,736) (2.3) Commission expenses 65,722 65,722 65, Vehicle hiring expenses 12,327 12,327 98,424 (3,93) (3.8) Other subcontracting expenses 59,214 17,347 41,866 4,962 (93) (2.2) Vehicle expenses 28,455 28,455 23,943 (4,511) (15.9) Fuel expenses 17,483 17,483 12,516 (4,967) (28.4) Other expenses 137, ,8 132,537 (5,263) (3.8) Depreciation 24,366 24,366 22,491 (1,875) (7.7) Eliminations (57,481) (57,481) (58,151) (669) 1.2

9 7. Delivery Business Quarterly YoY Analysis of Operating Revenues & Expenses Revenues (Billions of yen) FY 29: Excl. impact of Yamato Global Express split FY 21: Excl. impact of change in air freightage expense calculations Expenses (Billions of yen) FY 29: Excl. impact of Yamato Global Express split FY 21: Excl. impact of change in air freightage expense calculations YoY change in revenues from external customers +3.4% % st half FY b +7.8% +6.6% +1.1% 2nd half FY b % - 2.7% YoY growth rate of Takkyubin parcel volume -3.8% 1st half FY b - 1.4% +.1% FY9 1Q FY9 2Q FY9 3Q FY9 4Q FY1 1Q FY1 2Q Other.7 Other.2Vehicle.5 Vehicle 1.1 Vehicle 2.3Personnel. 1.7 Personnel 5.2 Personnel 6. Personnel Vehicle Other 1.4Other.4 1st half FY b Other.9 Vehicle 3.4 Personnel nd half FY9 11. b Other 1.8 Vehicle.8 Personnel % - 6.9% % FY1 3Q.7 Personnel (Employee Personnel 4.5 Personnel.9 salary 1.5) (Other 1.4) Vehicle 1.2 Vehicle 2.5 Vehicle.7 Other 1.8 Other 1.7 Other % (%) (%) 1st half FY b Other 3.5 Vehicle 3.7 Personnel 5.4 (Employee salary 7.2) (Other 1.8) 4. Personnel Vehicle expenses Other expenses YoY growth rate of Yamato Transport employees

10 8. The 5 Solution Models Revenues from 5 solution models (Billions of yen) FY 28 FY 29 FY 21 (Forecast) Today Shopping Service Maintenance Support Other (Net Super; Import Direct; Web Shipment)

11 Forecasts of FY 21 Operating Results

12 9. Forecasts of FY 21 Operating Results (1) Millions of yen FY 21 Forecast Change FY 21 YoY Change FY 29 (Sep 29 (A - B) (New forecast) forecast) A Amount [%] Amount [%] B Operating revenues Delivery 963, 997, , (34,898) (3.5) (1,) (1.) BIZ-Logistics 78, 92,947 79, (14,947) (16.1) (1,) (1.3) Home Convenience 5, 53,315 51, (3,315) (6.2) (1,) (2.) e-business 33, 32,272 33, Financial 53, 53,67 54, (67) (1.1) (1,) (1.9) Truck Maintenance 15, 17,554 16, (2,554) (14.6) (1,) (6.3) Other Business 4, 4,326 4, (326) (7.5). Total 1,196, 1,251,921 1,21, (55,921) (4.5) (14,) (1.2) Operating income Delivery 36, 31,123 35,3 4, BIZ-Logistics 2,4 3,194 2,6 (794) (24.9) (2) (7.7) Home Convenience (3) (339) (7) (175.) e-business 6,1 6,59 6,2 4.7 (1) (1.6) Financial 1,3 1,56 1,3 (26) (2.). Truck Maintenance 2, 1,711 2, Other Business 18,1 22,92 17,8 (4,82) (21.) Subtotal 74,6 75,157 74,6 (557) (.7). Eliminations (14,6) (19,436) (14,6) 4, Total 6, 55,72 6, 4, [Profit margin] 5.% 4.5% 5.% Ordinary income 62, 57,821 62, 4, [Profit margin] 5.2% 4.6% 5.1% Net income 32, 25,523 32, 6, [Profit margin] 2.7% 2.% 2.6%

13 1. Forecasts of FY 21 Operating Results (2) Operating revenues Operating expenses Personnel expenses Employee salary Retirement benefit expenses Other personnel expenses expenses Commission expenses Vehicle hiring expenses Other subcontracting expenses Vehicle expenses Fuel expenses Other expenses Depreciation Elimination FY 21 (New forecast) A 1,196, 1,136, 621, 434, 7, 18, 443, 158, 138, 147, 37, 21, 24, 4, (25,) FY 29 1,251,921 1,196,2 621, ,66 8,29 173,479 49,94 157, ,74 19,246 41,663 25, ,257 42,75 (25,776) FY 21 (Sep 29 forecast) B 1,21, 1,15, 624, 436, 7, 181, 449, 16, 14, 149, 37, 21, 246, 41,5 (26,) YoY Change Amount [%] (55,921) (4.5) (6,2) (5.) (115) (.) (5,66) (1.3) (1,29) (12.8) 6, (47,94) (9.8) 45. (4,74) (3.3) (43,246) (22.7) (4,663) (11.2) (4,891) (18.9) (8,257) (3.3) (2,75) (6.3) 776 (.4) Forecast Change (A-B) Amount (14,) (14,) (3,) (2,) (1,) (6,) (2,) (2,) (2,) (6,) (1,5) 1, [%] (1.2) (1.2) (.5) (.5). (.6) (1.3) (1.3) (1.4) (1.3).. (2.4) (3.6) (.5) (Millions of yen) Assumptions of forecasts Operating Revenues Delivery Business Takkyubin parcels (thousands; forecast) 1,256, YoY 1.9% Takkyubin unit price (forecast) 625 YoY 3.1% Personnel expenses (employee salary) Employees (consolidated ;forecast) Total 167,3 ( 11) Full-time 82,5 3,261 Part-time 84,8 3,362 (commission expenses) Inter-locked with decrease in revenues (vehicle hiring expenses) Improvement in delivery efficiency (Delivery) (Other subcontracting expenses) Decrease in utilized transportation expenses due to decrease in Delivery/BIZ-Logistics revenues Decrease in purchase costs due to decrease in Home Convenience revenues Vehicle expenses (fuel expenses) West Texas Intermediate ( 1 barrel = U.S. $8 (In Sep 29, 1 barrel = U.S. $75)

14 This presentation material is posted on the Company s website in the Investor Relations section in PDF format. Disclaimer This material is intended for informational purposes only and is not a solicitation or offer to buy or sell securities or related financial instruments. Ultimately it is the responsibility of investors to select and buy securities and the Company assumes no responsibility for investors who act on the basis of this material.