fy2019 consolidated results...warehouse and logistics real estate business environment in fy2019...

Securities Code：9301

FY2019 Consolidated ResultsMay 13, 2020

FY2019 Consolidated Results PresentationCopyright 2020 Mitsubishi Logistics Corporation All Rights Reserved

FY2019 Consolidated Results Contents

1

1. FY2019 Consolidated Results Summary

2. FY2019 Consolidated Results (Consolidated Statement of Income)

3. FY2019 Consolidated Financial Condition (Consolidated Balance Sheet)

4. Full-Year FY2020 Consolidated Earnings Forecast

5. Miscellaneous Information



2


1-1 Business Environment and Policy

1-2 Subsidiaries and Affiliates

1-3 Consolidated Operating Results (by Segment)

1-4 Consolidated Financial Condition

1-5 Consolidated Cash Flows


1-1-1 Business Environment and Policy

3

In the global economy, while the economy in China continued to slowdown moderately, economic recovery continued in the United States,

and muted recovery continued in Europe.

Despite weakening exports, the Japanese economy showed moderate recovery due to factors such as an improved employment environment and

recovery in consumer spending. However, from the fourth quarter on, the effects of the global outbreak of COVID-19 caused rapid deterioration

of economic conditions both inside and outside of Japan, resulting in an extremely severe situation.

Warehouse and Logistics Real Estate

Business Environment in FY2019

Partial rising trend in rent due to improved demand for rental office

buildings and others.

The situation became even more severe due to the effects of COVID-19 from the

fourth quarter on, in addition to increased costs resulting from factors such as decreased export cargo, intensified competition, and labor shortages.


1-1-2 Business Environment and Policy

4

Logistics Real Estate

Our Policy

Thorough cost management and further improvement of efficiency in business operations

[Yokohama Dia Building,YOKOHAMA BAY QUARTER]

Securing tenants and maintaining and improving rent

levels

Expansion of distribution operations especially for

pharmaceuticals, and expansion reinforcement of operational

bases overseas

[Seishin Distribution Center(Phase 1) (Phase 2)]


FY2018 FY2019 Change

Subsidiaries55

(Logistics 48/Real Estate 7)

55(Logistics 48/Real Estate 7)

No Change

Consolidated Subsidiaries



No Change

Equity-MethodSubsidiaries

ー

（ー）

ー

（ー）No Change

Affiliates 15（Logistics 15）

15（Logistics 15）

No Change

Equity-MethodAffiliates

3（Logistics 3）

3（Logistics 3）

No Change

1-2-1 Subsidiaries and Affiliates

5


1-2-2 List of Consolidated Subsidiaries

6

Logistics Real Estate

Tohoku Ryoso Transportation Co., Ltd. Monryo Transport Corporation Dia Buil-Tech Co., Ltd.Sairyo Service Co., Ltd. Hakuryo Koun Co., Ltd. Yokohama Dia Building Management C orporationDia Pharmaceutical Network Co., Ltd. Seiho Kaiun Kaisha, Ltd. Chubo Kaihatsu Co., Ltd.Tokyo Dia Service Co., Ltd. Saryo Service Co., Ltd. Nagoya Dia Buil-Tech Co., Ltd.Dia Systems Corporation Mitsubishi Logistics America Corp. Osaka Dia Buil-Tech Co., Ltd.Ryoso Transportation Co., Ltd. Mitsubishi Warehouse California Corp. Kobe Dia Maintenance Co., Ltd.Unitrans Ltd. Mitsubishi Logistics Europe B.V. T'ACT Co., Ltd.Keihin Naigai Forwarding Co., Ltd. Fuji Logistics Europe B.V.Touryo Kigyo Co., Ltd. Mitsubishi Logistics China Co., Ltd.Fuji Logistics Co., Ltd. Shanghai Linghua Logistics Co., Ltd.Tokyo Juki Transport Co., Ltd. Shanghai Linghua Qingsheng Logistics Co., Ltd. SII Logistics Inc. Shanghai Q ingke Warehouse Management C o., Ltd.Fuji Logistics Support Co., Ltd. Shanghai Lingyun Global Forwarding Co., Ltd.Kinko Service Co., Ltd. Fuji Logistics (China) Co., Ltd.Chubu Trade Warehousing Co., Ltd. Fuji Logistics (Dalian F.T.Z.) Co., Ltd.Meiryo Kigyo Co., Ltd. Fuji Logistics (Shanghai) Co., Ltd.Ryoyo Transportation Co., Ltd. Mitsubishi Logistics Hong Kong Ltd.Kyokuryo Warehouse Co., Ltd. Fuji Logistics (H.K.) Co., Ltd.Hanryo Kigyo Co., Ltd. Mitsubishi Logistics Thailand Co., Ltd.Shinryo Koun Co., Ltd. P.T. Mitsubishi Logistics IndonesiaNaigai Forwarding Co., Ltd. P.T. Dia-Jaya Forwarding IndonesiaKyushu Ryoso Transportation Co., Ltd. Fuji Logistics (Malaysia) SDN. BHD.

MY Terminals Holdings, Limited Jupiter Global LimitedKusatsu Soko Co., Ltd.

Equity-Method Affiliates (3)

Consolidated Subsidiaries (44) Consolidated Subsidiaries (7)

1-2-1

１－２－１　連結決算の範囲

前期当期前期比

平成２０年３月期平成２１年３月期

子会社４５社４５社増減なし

（物流３６、不動産９）（物流３６、不動産９）

関連会社１２社１２社増減なし

（物流１１、不動産１）（物流１１、不動産１）

うち連結子会社２３社２５社＋２社

（物流１６、不動産７）（物流１８、不動産７）（物流２）《注１》

〃　持分法適用会社１０社９社△１社

（物流１０）（物流９）（物流１）《注２》

《注１、注２》海外子会社１社（香港三菱倉庫）及び従来持分法適用会社であった国内子会社１社

（ダイヤ情報システム）の２社を当期から連結子会社へ組み入れ

期中増減額

コメント

1-2-2

１－２－２　連結子会社一覧レンケツコガイシャイチラン

LogisticsReal Estate

Consolidated Subsidiaries (44)Consolidated Subsidiaries (7)

Tohoku Ryoso Transportation Co., Ltd.Monryo Transport CorporationDia Buil-Tech Co., Ltd.

Sairyo Service Co., Ltd.Hakuryo Koun Co., Ltd.Yokohama Dia Building Management Corporation

Dia Pharmaceutical Network Co., Ltd.Seiho Kaiun Kaisha, Ltd.Chubo Kaihatsu Co., Ltd.

Tokyo Dia Service Co., Ltd.Saryo Service Co., Ltd.Nagoya Dia Buil-Tech Co., Ltd.

Dia Systems CorporationMitsubishi Logistics America Corp.Osaka Dia Buil-Tech Co., Ltd.

Ryoso Transportation Co., Ltd.Mitsubishi Warehouse California Corp.Kobe Dia Maintenance Co., Ltd.

Unitrans Ltd.Mitsubishi Logistics Europe B.V.T'ACT Co., Ltd.

Keihin Naigai Forwarding Co., Ltd.Fuji Logistics Europe B.V.

Touryo Kigyo Co., Ltd.Mitsubishi Logistics China Co., Ltd.

Fuji Logistics Co., Ltd.Shanghai Linghua Logistics Co., Ltd.

Tokyo Juki Transport Co., Ltd.Shanghai Linghua Qingsheng Logistics Co., Ltd.

SII Logistics Inc.Shanghai Qingke Warehouse Management Co., Ltd.

Fuji Logistics Support Co., Ltd.Shanghai Lingyun Global Forwarding Co., Ltd.

Kinko Service Co., Ltd.Fuji Logistics (China) Co., Ltd.

Chubu Trade Warehousing Co., Ltd.Fuji Logistics (Dalian F.T.Z.) Co., Ltd.

Meiryo Kigyo Co., Ltd.Fuji Logistics (Shanghai) Co., Ltd.

Ryoyo Transportation Co., Ltd.Mitsubishi Logistics Hong Kong Ltd.

Kyokuryo Warehouse Co., Ltd.Fuji Logistics (H.K.) Co., Ltd.

Hanryo Kigyo Co., Ltd.Mitsubishi Logistics Thailand Co., Ltd.

Shinryo Koun Co., Ltd.P.T. Mitsubishi Logistics Indonesia

Naigai Forwarding Co., Ltd.P.T. Dia-Jaya Forwarding Indonesia

Kyushu Ryoso Transportation Co., Ltd.Fuji Logistics (Malaysia) SDN. BHD.

Equity-Method Affiliates (3)

MY Terminals Holdings, LimitedJupiter Global Limited

Kusatsu Soko Co., Ltd.

1-4-3

１－４－３　セグメント別内訳／総資産

　　　　　　　　　　　　　　　（単位：百万円）

前期末当期末

平成２０年平成２１年前期末比主な要因

3990339903

物流事業121,113131,46410,350名古屋／飛島配送センター及び埼玉／三郷配送センターの建設等に伴い、「建物及び構築物」、「土地」等が増加

不動産事業91,79287,114△　４,６７７当期の減価償却に伴い、「建物及び構築物」等が減少

全　　社145,77197,802△４７,９６８株式相場下落に伴い、「投資有価証券」が減少

計358,677316,381△４２,２９５

1-5-2

１－５－２　キャッシュ・フローの状況（前期比較）

（単位：百万円）

前期当期

平成２０年平成２１年前期比主な要因

３月期３月期

期首残高31,51936,7275,208

期中増減額5,2082,530△　２,６７８

営業活動25,33116,936△　８,３９５前期に多額のマンション販売代金の回収があったため

投資活動△１１,６７５△２３,１５６△１１,４８０当期の固定資産の取得による支出が多かったため

財務活動△　８,３９８8,93817,337前期に社債（50億円）の償還による支出があり、当期に社債（140億円）の発行による収入があったため

換算差額△　　４９△　１８８△　１３９

連結範囲変更‐383383

期末残高36,72739,6422,914

6-1-1

６－１－１物流事業取扱高（当社）

前期当期前期比

平成２０年３月期平成２１年３月期

倉庫／入庫高（数量）２,８４９千トン２,６６９千トン△　１８０千トン

倉庫／出庫高（数量）２,８８８千トン２,６１７千トン△　２７１千トン

倉庫／保管残高（数量）４８９千トン４９５千トン＋　　　６千トン

　　　　〃　　（金額）２４１,１１９百万円２６５,０５４百万円＋２３,９３５百万円

倉庫／貨物回転率（数量）48.90%44.50%△　　４.４　　　

陸上運送１４,８６２千トン１３,０６６千トン△１,７９６千トン

港湾運送／沿岸荷役８２,１０８千トン７９,７５９千トン△２,３４８千トン

〃　　／船内荷役６２,２１１千トン６０,４４５千トン△１,７６５千トン

国際運送７,３８６千トン６,９４７千トン△　４３９千トン


Revised Results

Forecast for FY2019*

Differencebetween the

Actual Results and the Forecast

232,000 -2,942 -1.3%

11,700 +495 +4.2%

15,900 +922 +5.8%

12,500 -648 -5.2%

FY2018 FY2019 YOY

Revenue 227,185 229,057 +1,871 +0.8%

Operating Income 12,660 12,195 -465 -3.7%

Ordinary Income 17,333 16,822 -511 -3.0%

Profit Attributable to Owners of Parent

11,564 11,851 +286 +2.5%

Revenue : Revenue increased by 0.8% as a whole. In the Logistics Segment, although revenue increased due to increases in freight handled in the warehousing & distribution and land transportation businesses, revenue decreased due to decreases in freight handled in both the harbor transportation and international transportation businesses. In the Real Estate Segment, revenue increased due to an increase in properties for sale in the condominium sales business despite a decrease mainly due to movements of tenants in the real estate leasing business.

Operating Income : 3.7% decrease YOY as a whole, reflecting decreased income in the Logistics Segment and increased income in the Real Estate Segment.

Ordinary Income : 3.0% decrease YOYProfit Attributable to : Owners of Parent

2.5% increase YOY due to an increase in gain on sales of investment securities, despite posting an increase in loss on valuation of investment securities, etc.

1-3-1 Consolidated Operating Results

7

* The initial results forecast for FY2019 was announced on April 26, 2019.

(Unit: Millions of Yen)


12,660 12,195

17,333 16,822

11,564 11,851

0

4,000

8,000

12,000

16,000

20,000

1-3-2 Consolidated Operating Results

8

227,185 229,057

0

50,000

100,000

150,000

200,000

250,000

R e v e n u e I n c o m e(Unit: Millions of Yen)

OperatingIncome

OrdinaryIncome

Profit Attributable toOwners of Parent

FY2018 FY2019FY2019FY2018

グラフ1

126601733311564

121951682211851

系列 1

系列 2

系列 3

Sheet1

系列 1系列 2系列 3

12,66017,33311,564

12,19516,82211,851

カテゴリ 3

カテゴリ 4

グラフ1

227185

229057

系列 1

Sheet1

系列 1系列 2系列 3

227,185

229,057

カテゴリ 3

カテゴリ 4


1-3-3 Segment Information 1. Revenue

9

FY2018 FY2019 YOY

Logistics 190,434 【83%】 189,709 【82%】 -725 -0.4%

Real Estate 38,679 【17%】 41,199 【18%】 +2,520 +6.5%

Internal Transactions -1,928 － -1,851 － +76 －

Total 227,185 － 229,057 － +1,871 +0.8%

Logistics : Revenue decreased by 0.4% as a whole. In the Logistics Segment, although revenue increased due to increases in freight handled by the warehousing & distribution and land transportation businesses, revenue decreased due to decreases in freight handled in both the harbor transportation and international transportation businesses.

Real Estate : 6.5% YOY increase as a whole due to an increase in properties for sale in the condominium sales business despite a decrease mainly due to movements of tenants in the real estate leasing business.

Note: Figures in [ ] show the size of the Logistics and Real Estate Segments as percentages (excluding internal transactions), and therefore total 100% in both columns.



Real Estate38,679

Real Estate41,199

Logistics190,434

Logistics189,709

Revenue227,185

Revenue229,057

Internal Transactions

-1,928


-1,851

1-3-4 Segment Information 1. Revenue

10

FY2018 FY2019


グラフ

不動産事業

Real Estate

[値]

Real Estate

[値]

列1前年当年3867941199物流事業

Logistics

[値]

Logistics

[値]

列1前年当年190434189709営業収益

Revenue

[値]

Revenue

[値]

列1前年当年227185229057内部取引消去


-[値]


-[値]

列1前年当年19281851

Sheet1

列1前マエ年ネン当トウ年ネン

不動産事業フドウサンジギョウ38,67941,199

物流事業ブツリュウジギョウ190,434189,709

営業収益エイギョウシュウエキ227,185229,057

内部取引消去ナイブトリヒキショウキョ1,9281,851


1-3-5 Segment Information 2. Operating Income

11

FY2018 FY2019 YOY

Logistics 7,609 【41%】 7,184 【40%】 -425 -5.6%

Real Estate 10,783 【59%】 10,859 【60%】 +75 +0.7%

ParentCompany’sGeneral Expenses

-5,731 － -5,847 － -116 －

Total 12,660 － 12,195 － -465 -3.7%

Logistics : Operating income decreased by 5.6%. Despite a decrease in operational and transportation consignment costs, there were increases in one-time costs such as real estate acquisition taxes and depreciation and amortization accompanying launches of newly established distribution centers, as well as an increase in facility rental expenses accompanying the lease of harbor facilities.

Real Estate : Operating income increased by 0.7% although a decrease in revenue in the real estate leasing business adversely affected income.

Note: The figures in [ ] show the size of the Logistics and Real Estate Segments as percentages (excluding Parent Company's General Expenses), and therefore total 100% in both columns.



Real Estate10,783

Real Estate10,859

Logistics7,609

Logistics7,184

Operating Income12,660

Operating Income12,195

Parent Company's General Expenses-5,731

Parent Company's General Expenses-5,847

1-3-6 Segment Information 2. Operating Income

12

FY2018 FY2019


グラフ

Logistics

Real Estate

[値]

Real Estate

[値]


Logistics

[値]

Logistics

[値]

列1前年当年76097184営業利益

Operating Income

[値]

Operating Income

[値]


Parent Company's General Expenses

-[値]

Parent Company's General Expenses

-[値]

列1前年当年57315847

Sheet1


Logistics10,78310,859


営業利益エイギョウリエキ12,66012,195



1-4-1 Consolidated Financial Condition

13

End ofFY2018

End ofFY2019 Change Explanation

TotalAssets

482,575 468,243-14,331

Although there was an increase in property and equipment related to capital investment mainly in buildings and structures, there was a decrease in the market value of shares held mostly due to a drop in stock market prices, etc. because of the effects of COVID-19 at the end of the fiscal year.

-3.0%

Total Liabilities 183,470 181,886

-1,583Despite an increase in bonds payable according to issuance of #18 and #19 unsecured corporate bonds, there were decreases in loans payable in connection with scheduled payments and deferred income taxes accompanying a drop in stock market prices, etc.

-0.9%

NetAssets

299,104 286,356-12,748

Although posting of profit attributable to owners of parent increased retained earnings, there were decreases accompanying purchase of treasury shares and net unrealized holding gains on securities in connection with a drop in stock market prices, etc.

-4.3%

Equity Ratio 61.4% 60.5% -0.9



1-4-2 Consolidated Financial Condition

14

482,575468,243

299,104286,356

61.4%

60.5%

50.0%

52.0%

54.0%

56.0%

58.0%

60.0%

62.0%

0

100,000

200,000

300,000

400,000

500,000

600,000

総資産

純資産

自己資本比率

End of FY2019Mar. 31, 2020

End of FY2018Mar. 31, 2019

Equity Ratio

Net Assets

Total Assets(Unit: Millions of Yen)

グラフ

総　資　産

前当482575468243 純　資　産

前当299104286356 自己資本比率

前当0.613999999999999990.60499999999999998

Sheet1

前マエ当トウ

総　資　産フサシサン482,575468,243

純　資　産ジュンシサン299,104286,356

自己資本比率ジコシホンヒリツ61.4%60.5%


1-5-1 Consolidated Cash Flows

15

FY2019 Explanation

Balance at the Beginning of Fiscal Year (Apr. 1, 2019) 42,972

Change during the Period -2,430

Cash Flows from OperatingActivities

＋17,624Increase of 17.6 billion yen retained from profit before income taxes, depreciation and amortization, etc.

Cash Flows from InvestingActivities

-18,022Decrease of 18 billion yen mainly due to purchase of property, plant and equipment, although there were proceeds from sales of investment securities.

Cash Flows from FinancingActivities

-2,359

Decrease of approximately 2.3 billion yen mainly due to a decrease in borrowings, purchase of treasury shares, and payments of dividends, although there were proceeds from issuance of bonds payable.

Exchange Rate Change ＋326

Balance at the End of the Fiscal Year (Mar. 31, 2020) 40,541

Decrease of 2.4 billion yen from the beginning of FY2019.



1-5-2 Consolidated Cash Flows (YOY)

16

FY2018 FY2019 YOY Explanation

Balance at theBeginning of FY

39,580 42,972 ＋3,391

Change during thePeriod

+3,391 -2,430 -5,822

Cash Flows fromOperatingActivities

+23,352 ＋17,624 -5,727 Decreased YOY, mainly due to a decrease in deposits received.

Cash Flows fromInvestingActivities

-31,786 -18,022 ＋13,763Increased YOY due to a decrease in payment for purchase of investment securities.

Cash Flows fromFinancingActivities

+12,066 -2,359 -14,425Decreased YOY due to a decrease in proceeds from loans payable and an increase in payment for purchase of treasury shares.

Exchange RateChange -240 ＋326 ＋567

Balance at the End of the FY 42,972 40,541 -2,430




17


2-1 Consolidated Statement of Income

2-2 Breakdown of Revenue

2-3 Breakdown of Cost of Services


2-1 Consolidated Statement of Income

FY2018 FY2019 YOY

Revenue 227,185 229,057 +1,871 +0.8%Cost of Services 203,825 206,141 +2,315 +1.1%Gross Profit 23,360 22,916 -443 -1.9%SG&A 10,699 10,721 +21 +0.2%Operating Income 12,660 12,195 -465 -3.7%Non-Operating Income 5,802 5,727 -75Non-Operating Expenses 1,129 1,100 -29Ordinary Income 17,333 16,822 -511 -3.0%Extraordinary Income 1,346 3,921 +2,575Extraordinary Losses 1,887 4,006 +2,118Profit before Income Taxes 16,792 16,737 -55 -0.3%Income Taxes 4,996 4,705 -291Profit 11,795 12,031 +236 +2.0%Profit Attributable toNon-Controlling Interests

230 180 -50

Profit Attributable toOwners of Parent

11,564 11,851 +286 +2.5%

18



2-2 Breakdown of Revenue

19


Revenue 227,185 229,057 +1,871 +0.8%

Warehouse Storage 26,010 27,469 +1,459 +5.6%

Increase in the handling of foods, beverages, medical supplies, auto parts, etc.

WarehouseCargo Handling 18,067 18,224 +156 +0.9%

LandTransportation 51,849 52,132 +282 +0.5%

Port and HarborOperations 18,659 17,814 -844 -4.5%

Decrease in the handling of container freight, etc.

InternationalTransportation 52,911 50,032 -2,878 -5.4%

Decrease in the handling of exported and imported freight and strong yen exchange rate.

Real Estate Rent 31,566 31,550 -16 -0.1% Movement of tenants, etc.

Other 28,121 31,835 +3,714 +13.2%Increase in properties for sale in the condominium sales business, etc.



2-3 Breakdown of Cost of Services


Cost of Services 203,825 206,141 +2,315 +1.1%

Operational andTransportationConsignment Costs

98,431 96,071 -2,359 -2.4% Decreased freight handled in the Logistics Segment

Personnel Expenses 37,852 38,288 +435 +1.2%

Launched newly established distribution centers

Facility RentalExpenses 9,683 9,281 -401 -4.2%

Increased in the Logistics Segment overall, due to launches of newly established distribution centers, etc., as well as the transfer of facility rental expenses to depreciation and amortization accompanying the application of IFRS 16 Leases

Depreciation and Amortization 12,582 13,792 +1,209 +9.6%

Other 45,276 48,707 ＋3,431 +7.6%Increased real estate sales costs as sales of condominiums increased

20




21


3-1 Assets

3-2 Liabilities and Net Assets


3-1 Assets

End of FY2018 End of FY2019 Change Explanation

Assets 482,575 468,243 -14,331

Cash and Deposits 41,337 38,854 -2,482Payment of income taxes, capital investments, loan repayments, redemption of corporate bonds, purchase of treasury shares, payments of dividends, etc.

Buildings and Structures 117,254 127,987 +10,733

Increased due to launch of the SeishinDistribution Center (Phase 2), Minami Honmoku Distribution Center, and dorm for Kanagawa Police employees (Phase 2), etc.

Property, Plant and Equipment "Other" 6,134 8,653 +2,518

Lease assets increased accompanying the application of IFRS 16 Leases

Investments in Securities 134,578 111,587 -22,991

Decrease in the market value of shares, etc.

Investments and Other Assets "Other" 5,856 7,330 1,474

Increase in long-term lease investment assets due to the launch of operations of plants for lease

22



3-2 Liabilities and Net Assets

End of FY2018 End of FY2019 Change Explanation

Liabilities 183,470 181,886 -1,583Short-Term Bank Loans and Current Maturities of Long-Term Debt

26,467 25,403 -1,063 Decreased due to scheduled payment of short-term bank loans and transfer of long-term bank loans to short-term

Long-Term Loans Payable 24,235 19,680 -4,555

Current Maturities of Long-Term Debt 5,000 5,000 ―

Increased due to redemption of #12 unsecured corporate bonds and issuance of #18 and #19 unsecured corporate bondsBonds Payable 31,000 46,000 +15,000

Deferred Income Taxes 21,870 14,925 -6,945

Accompanying a decrease in the market value of stocks, the equivalent of the deferred tax amount corresponding to the valuation difference decreased

Net Assets 299,104 286,356 -12,748

Retained Earnings 197,675 204,319 +6,644 In connection with reporting of profitattributable to owners of parent, etc.

Treasury Stock -844 -5,847 -5,003 Purchase of treasury stock

Net Unrealized Holding Gains on Securities

57,098 43,252 -13,845Accompanying a decrease in the marketvalue of stocks, the valuation differenceafter tax effect decreased

23




24


4-1 Forecast for Revenue

4-2 Forecast for Expenses

4-3 Forecast for Income

This forecast was created on the present assumption that the effects of COVID-19 will remain until the end of the second quarter of the fiscal year ending March 2021, and that economic conditions will start to normalize from the third quarter. Our operating performance may change depending on the time when the normalization starts, and if a need to revise the earnings forecasts arises, this information will be disclosed promptly.


4-1-1 Forecast for Revenue

FY2019Results

FY2020YOY1H

Forecast2H

ForecastFull-YearForecast

Revenue 229,057 108,000 115,000 223,000 -6,057 -2.6%

Logistics 189,709 92,200 94,800 187,000 -2,709 -1.4%

Real Estate 41,199 16,800 21,200 38,000 -3,199 -7.8%

Internal Transactions -1,851 -1,000 -1,000 -2,000 -148 －

25

Logistics: Although the distribution center operations of both the warehousing & distribution and land transportation businesses are expected to expand, in both the harbor transportation andinternational transportation businesses, the handling of exported and imported freight is expected to decrease due to the effects of COVID-19 during the first half of the year. For this reason, the segment as a whole is expected to post a decrease in revenue.

Real Estate: The real estate leasing business is expected to be adversely affected by COVID-19 mainly related to commercial facilities, and the condominium sales business is also posting a decrease in the number of properties for sale. For this reason, the segment is expected to post a decrease in revenue.

Decrease in revenue is expected on the whole.



Real Estate41,199

Real Estate38,000

Logistics189,709

Logistics187,000Revenue

229,057Revenue223,000


-1,851


-2,000

4-1-2 Forecast for Revenue

26

FY2019Results

FY2020Forecast


グラフ

不動産事業

Real Estate

[値]

Real Estate

[値]


Logistics

[値]

Logistics

[値]

列1前年当年189709187000営業収益

Revenue

[値]

Revenue

[値]



-[値]


-[値]

列1前年当年18512000

Sheet1




営業収益エイギョウシュウエキ229,057223,000



4-2 Forecast for Expenses

FY2019Results

FY2020

YOY1H

Forecast 2H

ForecastFull-Year Forecast

Cost ofServices 206,141 97,500 103,500 201,000 -5,141 -2.5%

SG&A 10,721 5,300 5,400 10,700 -21 -0.2%

27

Cost of services is expected to decrease in the Logistics Segment due to decreases in operational and transportation consignment costs accompanying a decrease in freight handled. In the Real Estate Segment, a decrease in real estate sales costs is expected as well, accompanying a decrease in the number of properties for sale.SG&A is expected to be about the same as FY2019.



4-3-1 Forecast for Income

FY2019Results

FY2020YOY1H

Forecast2H

ForecastFull-Year Forecast

Operating Income 12,195 5,200 6,100 11,300 -895 -7.3%

Logistics 7,184 3,400 3,500 6,900 -284 -4.0%Real Estate 10,859 4,600 5,600 10,200 -659 -6.1%ParentCompany’sGeneral Expenses

-5,847 -2,800 -3,000 -5,800 +47 －

Ordinary Income 16,822 7,400 8,100 15,500 -1,322 -7.9%

Profit Attributable to Owners of Parent

11,851 5,700 6,900 12,600 +748 +6.3%

Operating Income : We expect an overall decrease from the previous year with decreased income in both the Logistics and Real Estate Segments.

Ordinary Income : We expect a decrease from the previous year due to deterioration of non-operating income accompanied by decreased factors such as dividend income.

Profit Attributable to : Owners of Parent

We expect an increase from the previous year due to improvement of extraordinary income accompanied by decreased extraordinary losses.

28



Real Estate10,859 Real Estate

10,200

Logistics7,184 Logistics

6,900

OperatingIncome12,195

OperatingIncome11,300

Parent Company’sGeneral Expenses-5,847

Parent Company’sGeneral Expenses-5,800

4-3-2 Forecast for Operating Income

29

FY2019Results

FY2020Forecast


グラフ

不動産事業

Real Estate

[値]

Real Estate

[値]


Logistics

[値]

Logistics

[値]

列1前年当年71846900営業利益

Operating

Income

[値]

Operating

Income

[値]


Parent Company’s

General Expenses

-[値]

Parent Company’s

General Expenses

-[値]

列1前年当年58475800

Sheet1




営業利益エイギョウリエキ12,19511,300





5-1 Volume Handled in Logistics (Parent)

5-2 Warehouse and Real Estate Leasing Area (Parent)

5-3 Capital Expenditure

5-4 Depreciation and Amortization

5-5 New Facilities

30


5-1 Volume Handled in Logistics (Parent)

FY2018 FY2019 YOY

WarehouseInbound Volume Quantity 2,633

1,000tons 2,582

1,000tons -2.0 %

WarehouseOutbound Volume

Quantity 2,641 1,000tons 2,5821,000tons -2.3 %

WarehouseStorage Balance

Quantity 562 1,000tons 5771,000tons +2.5 %

Amount 386,884 million yen 390,801million

yen +1.0 %

WarehouseFreight Turnover Rate

Rate 39.1 % 37.3 % -1.8

Land Transportation Quantity 12,786 1,000tons 12,2071,000tons -4.5 %

Portand Harbor Operations

Shore Handling Quantity 78,911

1,000tons 75,092

1,000tons -4.8 %

Onboard Handling Quantity 62,011

1,000tons 56,323

1,000tons -9.2 %

International Transportation Quantity 6,123

1,000tons 6,090

1,000tons -0.5 %

31


5-2-1 Warehouse Area (Parent)

FY2018 FY2019 YOY

Warehouse Storage Area(Monthly Average) 961

1,000㎡ 971

1,000㎡ +1.1 %

Building Leasing Area (Monthly Average) 1,067

1,000㎡ 1,103

1,000㎡＋3.4 %

Real Estate Leasing Area(Excludes Warehouse Leasing) 908

1,000㎡ 924

1,000㎡ +1.7 %

32


5-2-2 Real Estate Leasing Area (Parent)

33

Mar. 31, 2019 Sept. 30, 2019 Mar. 31, 2020

Building Leasing Vacancy Rate 2.2％ 2.5％ 3.3%

Office 3.0% 4.5% 5.3%

Commercial 0.2% 0.6% 0.3%


5-3 Capital Expenditure

FY2019 Results: 23.569 Billion Yen(Consolidated Cash Flow Statement “Spending on Fixed Asset Acquisition”)

[Major Projects]Construction of distribution centers, construction of rental facilities andmaintenance and renewal of real estate facilities, etc.

FY2020 Forecast: 35.0 Billion Yen

[Major Projects]Construction of distribution centers, purchases of facilities and land forlease and maintenance and renewal of real estate facilities, etc.

34


5-4 Depreciation and Amortization

FY2019 Results FY2020 Forecast Explanation

Total14.252 billion

Yen14.9 billion

Yen

Logistics8.273 billion

Yen8.7 billion

Yen

Expect to increase due to the launch of new distribution centers, etc.

Real Estate5.726 billion

Yen5.9 billion

Yen

Expect to increase due to launch of new rental facilities,despite calculations using the declining balance method projecting a decrease.

Corporate Expense

0.252 billionYen

0.3 billionYen

35


Completed in February 2020Location: Naka-ku, Yokohama, Kanagawa Total Floor Area: Approx. 35,600 m2

Minami Honmoku Distribution Center

5-5-1 New Facilities

Rendering

36

Misato No. 2 Distribution Center (Phase 2)

Scheduled for completion in October 2020Location: Misato, Saitama Total Floor Area: Approx. 27,700 m2


Meieki Dia Meitetsu Building

Suma Aqualife Park／Kaihin Park Restructuring Project

5-5-2 New Facilities

Scheduled for grand opening in March 2024In the Suma Aqualife Park/Kaihin Park Restructuring Project initiated by the City of Kobe, the group, including our company and represented by THE SANKEI BUILDING CO., LTD., was selected as one of the preferred bidders.Location: Suma-ku, Kobe, HyogoDevelopment Area: Approx. 101,900 m2

Scheduled for completion in June 2020Location: Nishi-ku, Nagoya, Aichi Total Floor Area: Approx. 19,000 m2

Rendering

37

Perspective image

Forecasts in this presentation are based on the information available to the Company’s management as of the date of release and certain assumptions judged rational. Accordingly, there may be cases in which actual results differ from forecasts in this presentation.

For the Realization of a Rich and Sustainable Society

MP英訳02_2020年3月期_決算説明会資料_表紙r(2).pdfスライド番号 1

MP英訳02_2020年3月期_決算説明会資料_1-27r(2).pdfFY2019 Consolidated Results Contents1. FY2019 Consolidated Results Summary1-1-1 Business Environment and Policy1-1-2 Business Environment and Policy1-2-1 Subsidiaries and Affiliates1-2-2 List of Consolidated Subsidiaries1-3-1 Consolidated Operating Results1-3-2 Consolidated Operating Results1-3-3 Segment Information　1. Revenue1-3-4 Segment Information　1. Revenue1-3-5 Segment Information 　2. Operating Income1-3-6 Segment Information 　2. Operating Income1-4-1 Consolidated Financial Condition1-4-2 Consolidated Financial Condition1-5-1 Consolidated Cash Flows1-5-2 Consolidated Cash Flows (YOY)2. FY2019 Consolidated Results (Consolidated Statement of Income)2-1 Consolidated Statement of Income2-2 Breakdown of Revenue2-3 Breakdown of Cost of Services3. FY2019 Consolidated Financial Condition (Consolidated Balance Sheet)3-1 Assets3-2 Liabilities and Net Assets4. Full-Year FY2020 Consolidated Earnings Forecast4-1-1 Forecast for Revenue4-1-2 Forecast for Revenue4-2 Forecast for Expenses

MP英訳02_2020年3月期_決算説明会資料_28-38r(2).pdf4-3-1 Forecast for Income4-3-2 Forecast for Operating Income5. Miscellaneous Information5-1 Volume Handled in Logistics (Parent)5-2-1 Warehouse Area (Parent)5-2-2 Real Estate Leasing Area (Parent)5-3 Capital Expenditure5-4 Depreciation and Amortization5-5-1 New Facilities5-5-2 New Facilitiesスライド番号 11

fy2019 consolidated results...warehouse and logistics real estate business environment in fy2019...

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