Results for the Six Months Ended September 30, 2014 November 2014 Building a better, brighter future together Total ICT Solutions: Contributing to the Realization of a Brighter Future by Bringing People Together and Forming Connections with Society URL: http://www.exeo.co.jp/overseas/index.html Results for the Six Months Ended September 30, 2014
Contents 3. Topics ･･･ 20 1. Overview of FY14 Interim Results ･･･ 3 (1) Performance Figures ･･･ 4 (1) AID Becomes a Subsidiary ･･･ 21 (2) Orders Received ･･･ 5 (2) New Solutions Business ･･･ 22 (3) Net Sales ･･･ 6 (3) Global Business ･･･ 25 (4) Operating Income ･･･ 7 (4) Improved Productivity ･･･ 26 (5) Cash Flow ･･･ 9 2. Expectations for the Rest of FY14 ･･･ 10 4. Raising Shareholders’ Value ･･･ 28 (1) Performance Figures ･･･ 11 (1) Payment of Dividends ･･･ 29 (2) Medium-Term Forecast for Projects ･･･ 13 (3) Investment Trends of Major Telecom Carriers ･･･ 14 (4) NTT Group (Access/Network) ･･･ 15 (5) NTT Group (Mobile) ･･･ 16 (6) Non-NTT Telecom Engineering ･･･ 17 (7) Environmental and Social Infrastructure ･･･ 18 (8) SYSTEM-SOLUTIONS ･･･ 19 ‐ 2 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (1) Performance Figures (2) Orders Received (3) Net Sales (4) Operating Income (5) Cash Flow ‐ 3 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (1) Performance Figures ◆ Progress ahead of plan, although sales decreased YOY. ◆ Record interim operating income and operating income margin. ■ Overview of FY14 interim results (consolidated) (¥bn) FY13 FY14 FY14 Interim Interim Interim YOY Plan actual plan actual accuracy A B C C/A C/B Orders received 143.2 149.0 104% 100% 149.3 Net sales 128.1 125.0 99% 102% 127.1 (12.4%) (12.6%) (12.8%) Gross profit 15.9 15.8 102% 103% 16.2 (6.8%) (7.0%) (6.8%) SG&A expenses 8.6 8.8 100% 99% 8.6 (5.7%) (5.6%) (5.9%) Operating income 7.2 7.0 104% 108% 7.5 (5.9%) (5.8%) (6.0%) Ordinary income 7.5 7.2 101% 107% 7.6 (4.9%) (3.4%) (3.6%) Net income 6.3 4.3 72% 105% 4.5 Notes: All amounts less than ¥100m are disregarded. Figures in parentheses are ratio to net sales. ‐ 4 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (2) Orders Received ◆ Progress ahead of both previous period and plan ◆ Continued aggressive business expansion to exceed plan during the year （ ¥bn ） ■ YOY (consolidated) ■ Compared to plan (consolidated) ○ Public works orders ● Civil engineering ● Access ○ Waste treatment plants ○ Mobile 320.0 320.0 320.0 Environmental Environmental and Social 304.2 and Social Infrastructure Infrastructure -0.2 +5.3 Non-NTT NTT Group telecom SYSTEM- SYSTEM- +0.9 -1.6 NTT Group SOLUTIONS SOLUTIONS +3.6 -4.1 -3.8 Non-NTT ● NI telecom ● NI +6.2 ○ Access ○ Mobile 149.3 149.0 ○ Public works orders 149.3 143.2 ○ NCCs +6.1 +0.3 FY14 Interim Plan FY14 Interim FY13 Interim FY14 Interim ○ Reason for increase ● Reason for decrease Note: All amounts less than ¥100m are disregarded. ‐ 5 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (3) Net Sales ◆ Achieved interim plan, despite YOY decrease ◆ Steady progress ■ YOY (consolidated) ■ Compared to plan (consolidated) (¥bn) ○ Public works orders ● Access ○ Electricity facilities ● NI ○ Waste treatment plants ● Network ○ Mobile 320.0 320.0 320.0 SYSTEM- Environmental 318.5 Non-NTT SOLUTIONS and Social telecom Infrastructure -2.2 NTT Group +0.4 +3.0 -1.5 Environmental and Social SYSTEM- Infrastructure SOLUTIONS Non-NTT NTT Group +0.7 telecom -2.0 +3.1 -0.6 ● NI 127.1 ○ Electricity facilities ○ NCCs 125.0 128.1 127.1 ● Measures for mobile phone dead zones between ○ Access subway stations ○ Mobile ● Others +2.1 -1.0 FY13 Interim FY14 Interim FY14 Interim plan FY14 Interim ○ Reason for increase ● Reason for decrease Note: All amounts less than ¥100m are disregarded. ‐ 6 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (4) Operating Income ◆ Steady progress, exceeding both previous period and plan ◆ Increased profitability, highest ever during first half ■ YOY (consolidated) ■ Compared to plan (consolidated) (¥bn) 22.0 22.0 22.0 20.7 Improved efficiency Down due to Improved efficiency +0.7 decrease in sales +0.1 -0.1 Curbs on SG&A expenses Up due to +0.2 Cost of Increase in sales strengthening sales +0.2 -0.3 7.0 7.5 7.2 7.5 +0.5 +0.3 FY13 Interim FY14 Interim FY14 Interim plan FY14 Interim ○ Reason for increase ● Reason for decrease Note: All amounts less than ¥100m are disregarded. ‐ 7 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results Reference: Trends in Group company profitability ◆ Continued high level of profits in Group companies ■ Trends in operating profits over the past five years (consolidated/non-consolidated) (¥bn) (Ratio of consolidated to (1.2) (0.9) (1.7) (1.7) (1.6) non-consolidated projects) 7.5 7.2 2.9 2.9 5.7 Group companies 2.3 Exeo alone 2.7 0.4 1.5 4.6 4.3 -0.1 3.3 2.2 1.6 FY10 Interim FY11 Interim FY12 Interim FY13 Interim FY14 Interim Notes: Ratio of consolidated to non-consolidated projects=profits from consolidated projects ÷ profits from non-consolidated projects. All amounts less than ¥100m are disregarded. ‐ 8 ‐ Results for the Six Months Ended September 30, 2014
1. Overview of FY14 Interim Results (5) Cash Flow ◆ Stable cash flow ■ Cash flow (consolidated) (¥bn) FY11 FY12 FY13 FY14 Interim Full Interim 17.6 12.3 14.6 14.6 Cash at beginning of FY 16.2 16.4 7.1 3.9 9.8 Operating activities 23.1 Investing activities -4.5 -2.1 -1.7 -7.4 -1.3 Financing activities -17.5 -3.0 -5.0 -0.9 -10.6 12.3 14.6 11.8 16.2 Cash at end of FY 27.3 Note: All amounts less than ¥100m are disregarded. ‐ 9 ‐ Results for the Six Months Ended September 30, 2014
2. Expectations for the Rest of FY14 (1) Performance Figures (2) Medium-Term Forecast for Projects (3) Investment Trends of Major Telecom Carriers (4) NTT Group (Access/Network) (5) NTT Group (Mobile) (6) Non-NTT Telecom Engineering (7) Environmental and Social Infrastructure (8) SYSTEM-SOLUTIONS ‐ 10 ‐ Results for the Six Months Ended September 30, 2014
2. Expectations for the Rest of FY14 (1) Performance Figures ◆ Continued efforts to exceed plan during the year ■ Plans for FY14 (consolidated) (¥bn) FY13 FY14 Interim Full Interim Plan YOY A B C D D/B Orders received 143.2 304.2 149.3 320.0 105% Net sales 128.1 318.5 127.1 320.0 100% Gross profit (12.4%) (12.1%) (12.8%) (12.3%) 15.9 38.5 16.2 39.5 102% SG&A expenses (6.8%) (5.6%) (6.8%) (5.5%) 8.6 17.8 8.6 17.5 98% Operating income (5.7%) (6.5%) (5.9%) (6.9%) 7.2 20.7 7.5 22.0 106% Ordinary income (5.9%) (6.5%) (6.0%) (6.9%) 7.5 20.6 7.6 22.2 108% Net income (4.9%) (4.7%) (3.6%) (4.4%) 6.3 14.9 4.5 14.1 95% Notes: All amounts less than ¥100m are disregarded. Figures in parentheses are ratio to net sales. ‐ 11 ‐ Results for the Six Months Ended September 30, 2014
2. Expectations for the Rest of FY14 < Reference > Construction work carried over from 2Q of FY14 ◆ Continued high level of projects carried over in 3Q ■ Trends for value of work carried over into second half of fiscal year (from 2Q to 3Q) (consolidated) (¥bn) 133.1 131.7 129.3 125.8 107.7 FY10 Interim FY11 Interim FY12 Interim FY13 Interim FY14 Interim Note: All amounts less than ¥100m are disregarded. ‐ 12 ‐ Results for the Six Months Ended September 30, 2014
2. Expectations for the Rest of FY14 (2) Medium-Term Forecast for Projects ◆ Decrease in NTT fixed-line absorbed by other projects; increased earnings and profits to continue in the medium term New core businesses in the future ・・・ (Areas in which Kyowa Exeo can demonstrate its strengths) SYSTEM-SOLUTIONS (NI, SI) Biggest business opportunities Environmental and Social Infrastructure ・・・ (Renewable energy, renovations, aging infrastructure, Tokyo Olympics) Non-NTT telecom ・・・ Continuing growth centered on NCCs Net sales ・・・ Downward trend likely to continue in the NTT Group (Access/Network) immediate term Continuing shift to higher standards ・・・ NTT Group (Mobile) centered on LTE FY13 FY14 FY15 FY12 ‐ 13 ‐ Results for the Six Months Ended September 30, 2014
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