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Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
Results meeting-of-fy-ended-march-2012
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Results meeting-of-fy-ended-march-2012

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  • 1. Briefing material of results meeting for the year ended March 2012 President and CEO Kenji Watanabe May 8, 2012 1. Business overview P1- 2. Changes due to external environment P9 3. Progress of business plan P10 4. Performance outlook of the year ending March 2013 P11- 5. Dividend P17Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012
  • 2. 1. Business overview A. Overview of FY2011 1) Overview (Consolidated) (100 mn yen) Forecast for Difference Actual Actual Difference Difference full fiscal Difference (YoY) year (compared for for (YoY) (compared to forecast) FY2011 FY2010 (%) (announced to forecast) May 20) (%) Revenues 16,280 16,171 108 0.7 16,200 80 0.5 Operating 374 316 58 18.6 350 24 7.1 income Ordinary 474 406 67 16.6 420 54 13.0 income Net income 269 85 184 215.5 210 59 28.3 (rounded down to 100 mn yen) 2)Business indices (Numbers in parentheses are results for previous year) • Operating income margin 2.3% (2.0%) • Ordinary income margin 2.9% (2.5%) • ROE 5.7% (1.8%) • ROA 2.3% (0.7%)Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 1
  • 3. 1. Business overview B. Trend of Revenues and Operating income for the past 5 years Revenues (consolidated) Consolidated/Parent ratio of revenues (100 mn yen) (times) 20,000 19,014 18,289 2.0 15,696 16,171 16,280 1.449 1.467 1.498 1.536 1.536 10,000 1.0 0 0.0 08/3 09/3 10/3 11/3 12/3 (100 mn yen) Operating income (consolidated) 600 485 375 374 335 316 300 0 08/3 09/3 10/3 11/3 12/3Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 2
  • 4. 1. Business overview C. Trend of Ordinary income and Net Income for the past 5 years Ordinary income (consolidated) Net income (consolidated) (100 mn yen) 600 559 500 474 420 406 400 364 377 300 269 200 151 125 85 100 0 08/3 09/3 10/3 11/3 12/3Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 3
  • 5. 1. Business overview D. Overview by business segment 1) Combined Business (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 1,769 1,748 20.5 1.2 4Q Segment income 29 11 18.1 161.1 March: Growth in volume of rail, warehousing, house & office Revenues 7,047 7,174 (127.2) (1.8) moving service FY Segment income 69 83 (14.3) (17.2) 2) Security Transportation (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 146 146 (0.4) (0.3) 4Q *Decrease in unit prices of Segment income 2 4 (2.2) (48.9) services Revenues 587 595 (7.7) (1.3) *Increase in personnel costs FY Segment income 18 18 0.9 5.2 3) Heavy Haulage & Construction (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 105 80 24.3 30.1 *Growth in volume of heavy 4Q electrical equipment Segment income 10 4 5.3 109.9 construction related to Revenues 400 343 56.9 16.6 earthquake recovery FY Segment income 38 26 11.3 42.2 *Increase in foreign projectsCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 4
  • 6. 1. Business overview D. Overview by business segment 4) Air Transportation & Travel (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 512 495 16.8 3.4 4Q *Growth in volume of Segment income 22 5 17.0 295.9 emergency spot business and automobile related cargo transport for the Americas Revenues 2,054 2,034 19.9 1.0 *Air forwarding costs were FY controllable Segment income 65 9 56.2 590.7 5) Marine & Harbor Transportation (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 307 303 4.0 1.3 4Q *Solid imported commercial Segment income 7 11 (4.0) (35.1) cargo and coastal shipping Revenues 1,256 1,242 14.3 1.2 *Decrease in business for FY medium-sized customers Segment income 51 54 (3.3) (6.2)Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 5
  • 7. 1. Business overview D. Overview by business segment 6) The Americas (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 109 106 3.7 3.6 4Q: Actual increase in both 4Q revenue and profit Segment income 7 3 3.9 112.5 *Increase in US truck transportation Revenues 429 428 1.5 0.4 *Solid Mexican air imports FY FY: Actual increase in both Segment income 16 15 0.9 6.2 revenue and profit 7) Europe (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 122 123 (0.7) (0.6) 4Q: Actual increase in revenue and decrease in profit 4Q * Strong Russian warehousing Segment income 5 7 (2.5) (32.2) and intra-region truck transportation performance Revenues 464 450 13.8 3.1 *Impact of site closure FY reserves and pricing revisions Segment income 18 17 1.1 6.2 FY: Actual increase in both revenue and profitCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 6
  • 8. 1. Business overview D. Overview by business segment 8) East Asia (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 182 206 (23.9) (11.6) 4Q: Actual decrease in revenue and increase in profit 4Q *Strong warehousing and truck Segment income 7 6 0.9 15.5 transportation performance *Sluggish air freight export Revenues 729 769 (39.8) (5.2) *Effects of control of air freight FY forwarding costs Segment income 23 20 2.4 11.7 FY: Actual increase in both revenue and profit 9) South Asia & Oceania (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 124 113 10.9 9.7 4Q: Actual increase in both 4Q revenue and profit Segment income 5 3 2.1 66.9 *Alternate shipping from the countries around Thailand Revenues 448 455 (7.5) (1.7) *Demand was high for Indian domestic logistics FY FY: Actual increase in both Segment income 16 13 2.5 18.7 revenue and profitCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 7
  • 9. 1. Business overview D. Overview by business segment 10) Goods Sales (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 1,011 918 92.8 10.1 4Q *Increase in the unit price of Segment income 21 13 7.9 59.5 petroleum Revenues 3,740 3,525 215.6 6.1 *Increase in the volume of FY export package handling Segment income 69 70 (0.9) (1.3) 11) Other (100 mn yen) FY2011 FY2010 Difference Difference (%) Overview of 4Q Revenues 110 99 11.0 11.1 4Q *Real estate agency revenue Segment income 8 4 4.0 91.4 rose Revenues 403 359 43.8 12.2 *Personnel service business FY demand grew Segment income 19 15 4.3 28.7Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 8
  • 10. 2. Changes due to external environment Change factors (full year) Impact on consolidated results Change factors Reference (full year) Change in unit price (YoY) Impact of change in Fuel cost: +¥3.0 billion Light oil: + ¥10.79 /ℓ unit fuel price (cost increase) Gasoline: + ¥11.24 /ℓ Heavy oil: + ¥11.73 /ℓ Average exchange rate for the year (*) FY 2011 (YoY) Revenues: -¥12.9 billion USD: ¥79.85 (¥87.68) Impact of foreign exchange EUR: ¥111.12 (¥116.16) (strong yen) Operating income: -¥0.4 billion HKD: ¥10.26 (¥11.27) RMB: ¥12.35 (¥12.93) (*) The annual exchange rate is the reference rate. Average quarterly rates herein are applied to the quarterly results of local businesses.Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 9
  • 11. 3. Progress of business plan Nippon Express Group Corporate Strategy 2012 - Towards New Growth - Progress of basic strategy Basic Strategy Item Progress 33% of sales from International Results for FY2011 30.8% operation-related business in FY 2012 (Results for FY2010 30.9%, results for FY2009 27.0%) 1)Implementation in India of domestic procurement logistics model for automobile industry established in Growth as a Global Logistics China Company 2) Capital alliance with Colombian agent Map Cargo Business development in the global SAS (March) market 3) Acquired US Associated Global Systems, Inc. (March) 4) Opened Nippon Express (Russia) LLC. Togliatti Office (March) 1) 5,638 environmentally-friendly vehicles (end of March) Promotion of Strategic Implementation of consistent CO2 Environmental Management reduction measures, etc. 2) Measures aimed at stabilizing installation and operations of digital tachographs by Nippon Express (South China) Co., Ltd. Establishment of Regional General Office Enhancement of Management 1) Nippon Express Europe GmbH. (September) Global IT infrastructure development Infrastructure 2) Nippon Express (South Asia & Oceania) Pte., Ltd. (April 2012)Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 10
  • 12. 4. Performance outlook of the year ending March 2013 A. Consolidated forecast (100 mn yen) 1) Overview (Consolidated) (million yen) Difference FY 12 Forecast FY 11 Actual [Difference (%)] 1H 2H Full FY 1H 2H Full FY 1H 2H Full FY 80 138 219 Revenues 8,100 8,400 16,500 8,019 8,261 16,280 [1.0] [1.7] [1.3] Operating 40 4 45 180 240 420 139 235 374 income [29.2] [1.8] [12.0] Ordinary 29 (3) 25 220 280 500 190 283 474 income [15.3] [(1.3)] [5.4] 40 (9) 30 Net income 140 160 300 99 169 269 [40.2] [(5.7)] [11.3]Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 11
  • 13. 4. Performance outlook of the year ending March 2013 B. Overview by business segment 1) Combined Business (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 7,085 7,047 37.8 0.5 *Increase in rail business Segment *Control personnel costs income 87 69 17.9 25.9 2) Security Transportation (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 596 587 8.3 1.4 Segment *Increase from obtaining new orders income 19 18 0.2 1.1 3) Heavy Haulage & Construction (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 374 400 (26.4) (6.6) *Rebound from previous heightened earthquake related demand Segment income 35 38 (2.7) (7.3) *Shut down maintenance demand poorCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 12
  • 14. 4. Performance outlook of the year ending March 2013 B. Overview by business segment 4) Air Transportation & Travel (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 2,005 2,054 (49.0) (2.4) *Freight charges tend to drop Segment *Air forwarding costs controllable income 63 65 (2.2) (3.5) 5) Marine & Harbor Transportation (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 1,293 1,256 36.4 2.9 Equipment exports, overseas moving, and Segment coastal shipping business perform well income 60 51 9.8 19.4Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 13
  • 15. 4. Performance outlook of the year ending March 2013 B. Overview by business segment 6) The Americas (100 mn yen) FY2012 FY2011 Difference Difference (%) Overview Revenues 555 429 125.3 29.2 *Strong performance in air and sea imports and exports Segment *Thanks to AGS’s contributions, steady 22 16 5.4 32.6 US and Mexico truck transportation income business 7) Europe (100 mn yen) FY2012 FY2011 Difference Difference (%) Overview Revenues 477 464 12.4 2.7 *German automobile related business and Russian warehouse delivery Segment perform well income 21 18 2.7 14.5 8) East Asia (100 mn yen) FY2012 FY2011 Difference Difference (%) Overview Revenues 772 729 42.3 5.8 *Demand up for air freight exports Segment *Strong domestic truck delivery results income 29 23 5.7 24.6 in China 9) South Asia & Oceania (100 mn yen) FY2012 FY2011 Difference Difference (%) Overview Revenues 486 448 37.8 8.5 *Strong air freight export *Large-scale facilities go into service in Segment Thailand income 20 16 3.6 22.3 *Air forwarding costs controllableCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 14
  • 16. 4. Performance outlook of the year ending March 2013 B. Overview by business segment 10) Goods Sales (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 3,749 3,740 8.2 0.2 Segment Increase in the unit price of oil income 66 69 (3.3) (4.8) 11) Other (100 mn yen) FY2012 FY2011 Difference Difference Overview (%) Revenues 420 403 16.3 4.0 Segment Increase in logistics finance business income 19 19 0.1 0.9Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 15
  • 17. 4. Performance outlook of the year ending March 2013 C. Assumptions for external factors Assumptions (figures in parentheses Impact on consolidated results are those for the same period in FY 2011) Light oil: ¥115.00 /ℓ (¥106.20 ) Gasoline: ¥138.17 /ℓ (¥138.06) Impact of change in unit Fuel cost: ¥1.6 billion Heavy oil: ¥61.12 /ℓ (¥60.04) fuel price (increase in cost ) Assumes the same amount of fuel will be used as that of the previous year. Average exchange rate forecasts for the year (*) Impact of foreign Revenues: -¥2.8 billion USD: ¥79.28 (¥79.85) exchange (strong yen) Operating income: -¥0.9 billion EUR: ¥103.99 (¥111.12) HKD: ¥10.22 (¥10.26 ) RMB:¥12.57 (¥12.35) (*) The annual exchange rate is the reference rate. Average quarterly rates herein are applied to the quarterly results of local businesses.Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 16
  • 18. 5. Dividend Changes in dividend payout ratio and forecast Net income (consolidated) Dividend payout ratio (consolidated) (100 mn yen) (%) 500 140.0 122.1 120.0 400 364 100.0 83.0 300 300 269 80.0 68.7 60.0 200 151 125 40.0 85 38.7 100 34.8 28.6 20.0 0 0.0 08/3 09/3 10/3 11/3 12/3 13/3 forecastCopyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 17
  • 19. This document is not aimed to solicit or to gain investments in any of our securities which are to be issued. The opinions and forecasts in this document are based on the information available at the time of creation of this document. We do not guarantee or commit to the accuracy of this information which may alter without notice. We do not bear any responsibility for any damages caused by the information contained within this document.Copyright © 2012 NIPPON EXPRESS, All rights reserved. Briefing material of results meeting for the year ended March 2012 18

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