+ All Categories
Home > Documents > Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material ›...

Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material ›...

Date post: 26-Jun-2020
Category:
Upload: others
View: 1 times
Download: 0 times
Share this document with a friend
16
August 14, 2012 Interim Financial Results for Fiscal 2012, the Year Ending December 31, 2012 Kinki Nippon Tourist Co., Ltd.
Transcript
Page 1: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

August 14, 2012

Interim Financial Results for Fiscal 2012, the Year Ending December 31, 2012

Kinki Nippon Tourist Co., Ltd.

Page 2: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

2

Overview of the FY2012 Interim Period (January to June) 3

Consolidated Results for the Interim Period of FY2012 5

Non-Consolidated Sales and Operating Revenue by Type of Travel

for the FY2012 Interim Period 7

Consolidated Balance Sheets at the End of the FY2012 Interim Period 8

Consolidated Cash Flow Statement for the FY2012 Interim Period 9

Initiatives for the Second Half of FY2012 and Beyond—Part 1 10

Full-Year Forecasts of Consolidated Financial Results for FY2012 12

Full-Year Forecasts of Non-Consolidated Financial Results for FY2012 13

Forecasts of Full-Year Non-Consolidated Sales and Operating Revenue

by Type of Travel for FY2012 14

Reference: Non-consolidated Sales by Type of Travel 15

IR Inquiries 16

Contents

・・・・・・・・・・・・・・・・・・・・・

・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

・・・・・・・・・・・・・・・・・・

・・・・・・・・・・・・・・・・・・・・・・ ・・・・・・・・・・・・・・・・・・・・・・・・・

・・・・

・・・・・・・・・

・・・・・・・・・・

・・・・・

・・・・・・・・・・・・・・・・・・ ・・・・・・・・・・・・・・・・・・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・

・・・・・・・・・・・・・・

・・・・・・・・・・・・・・・・・・・・・・・

Page 3: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

3

Education and MICE toursGeneral and corporate group

tours Sports businessRegional promotion business

Mate and Holiday package planning

Web-based package planning and sales

Partnership sales

Businesses concentrated into two operational divisions

The nuclear power plant accident in Japan and the debt crisis in Europe were causes of concern in Japan’s travelindustry; however, there are signs of a rebound in tourism demand as the country recovers from the impact of the GreatEast Japan Earthquake that occurred last year.

Corporate restructuring undertaken starting in January

Build an organization tailored to each region’s characteristics and business conditions

Internal restructuring of KNT’s organization

Group Tour Business Company

Individual Travel Business Company

Specialized merchandising company

KNT MerchandisingKNT Hokkaido

KNT Tohoku

KNTKNT Kyushu

KNT Chugoku Shikoku

Operations began at split-off companies, Kinki Nippon Tourist Tohoku, Kinki Nippon Tourist Chugoku Shikoku, and Kinki Nippon Tourist Shoji. Operations of the Individual Travel business were transferred to Kinki Nippon Tourist Hokkaido and Kinki Nippon Tourist Kyushu in their respective regionsThe Sports Marketing Department and Regional Promotion Department were integrated in the Group Tour Business Division, and the Group Tour Business Company was established.The Partnership Sales Department was integrated in the Individual Travel Business Company.

Overview of the FY2012 Interim Period (January to June)—Part 1

Page 4: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

4

Overview of the FY2012 Interim Period (January to June)—Part 2

KNT was a main sponsor of the International Friendship Run

KNT’s train station advertisement for a tour bus trip in Honolulu

Reforming the Sales Structure

Group Tour Business

Bolstered regional promotion and consulting businesses through sport events: major marathon events in Kumamoto, Tokyo, Kyoto, and NagoyaCapitalized on demand in the MICE market: orders for large-scale conventions

Global Business Established Kinki Nippon Tourist Taiwan Co., Ltd., as a local Taiwanese subsidiary in May

Individual Travel Business

Improved Web-based salesExpanded Web-based domestic travel packages using a new sales systemCommenced sales of overseas tours via smart phones

Developed high-value-added Holiday travel packages for overseas

Operated a double-decker tour bus in Honolulu, HawaiiOffered chartered flights and reserved trains for trips to see theannular eclipse

Page 5: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

5

KNT Travel (Thailand) Co., Ltd.; KNT Taiwan Co., Ltd.

NTT Data Teranos Corporation

Hakone Kogen Hotel; Okunikko Kogen Hotel

Consolidated Results for the FY2012 Interim Period—Part 1

The KNT Group’s Scope of Consolidation34 consolidated companies (31 in the previous fiscal year)

KNT Tourist Co., Ltd.; United Tours Co., Ltd.; Kinki Nippon Tourist Hokkaido Co., Ltd.; Kinki Nippon Tourist Tohoku Co., Ltd.; Kinki Nippon Tourist Chugoku-Shikoku Co., Ltd.; Kinki Nippon Tourist Kyushu Co., Ltd.; T-Gate, Inc.; Sanki Travel Service Co., Ltd.; KNT Asia Co., Ltd.; others

H&M Insurance Hawaii, Inc.; Griffin Insurance Co., Ltd.

Kintetsu International Express companies in the U.S., Canada, Europe, and Oceania; Pacific DevelopmentInc.: KNT Korea, Inc.; KNT (Hong Kong) Ltd.; others

KNT Tourist outlet

Tourist Experts Co., Ltd.

Kinki Nippon Tourist Shoji Co., Ltd.

Tourist Service Hokkaido Co., Ltd.; KNT Business Create Co., Ltd.

Tourist International Assistance Service, Inc.

Event & Convention House, Inc.

Five companies affiliated by the equity methodTravel

Information processingHotels

13 travel companies in Japan

2 reinsurance underwriting businesses

13 travel companies outside Japan

6 travel-related operations companies

Temporary staff servicesMerchandising and insuranceBusiness consignmentTravel assistance servicesEvent and convention planning

Page 6: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

6

Consolidated Results for the FY2012 Interim Period—Part 2

FY2012 first half FY2011 first half Increase / decrease % change

Operating revenue 26,862 24,666 2,196 8.9

Operating expenses 27,808 26,480 1,328 5.0

Operating income (946) (1,814) 868 -

Ordinary income (948) (1,633) 685 -

Extraordinary income 135 8 127 -

Extraordinary loss 334 173 161 93.1

Net income (1,392) (1,990) 598 -

(Millions of yen)

Operating revenue increased 2,196 million yen, reflecting travel demand related to the Great East Japan EarthquakeOperating expenses increased 1,328 billion yen, mainly due to reduced personnel and advertising expenses in theprevious fiscal year for earthquake disaster countermeasuresOperating income improved by 868 million yenOrdinary income comprised about 200 million yen in non-operating income from interest income and other items,and about 200 million yen in non-operating expenses owing to interest expenses and other factorsExtraordinary income consisted of about 100 million yen in compensation received, and an extraordinary loss ofabout 200 million yen for compensation payments

Page 7: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

7

Non-Consolidated Sales and Operating Revenue by Type of Travel for the FY2012 Interim Period

Sales YoY change (%)

Adjusted YoY change* (%)

Operating revenue

YoY change (%)

Adjusted YoY change* (%

Rate of return (%)

Travel in Japan 76,492 (1.2) 10.4 11,610 (2.2) 11.1 15.2

Group tours 31,852 (1.8) 10.8 5,310 (5.6) 5.5 16.7

Package tours 28,251 (3.9) 9.9 5,189 (0.4) 16.6 18.4

Individual travel 16,389 5.1 10.2 1,111 7.3 14.8 6.8Outbound

Travel 61,273 9.4 11.6 6,460 10.2 13.8 10.5

Group tours 14,969 32.5 41.5 2,211 20.6 28.2 14.8

Package tours 22,686 1.2 2.6 3,724 4.2 6.1 16.4

Individual travel 23,618 6.0 6.4 525 15.4 18.2 2.2

Inbound travel 3,472 83.9 85.9 448 52.4 54.0 12.9

Other 507 (77.4) 1.6 478 (42.8) (5.0) 94.3

Total 141,744 3.0 12.0 18,996 0.7 12.2 13.4

(Millions of yen)

* Adjusted YoY change compares the year-on-year change excluding financial results in the previous fiscal year of Kinki Nippon Tourist Tohoku, Kinki Nippon Tourist Chugoku Shikoku, and Kinki Nippon Tourist Merchandising, and excluding financial results of the Individual Travel businesses of Kinki Nippon Tourist Hokkaido, and Kinki Nippon Tourist Kyushu, all of which where split off in January 2012.

Page 8: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

8

Consolidated Balance Sheets at the End of the FY2012 Interim Period

June 30, 2012 December 31, 2011 Increase/decreaseCurrent assets 69,039 66,394 2,645

Cash and deposits 29,727 32,630 (2,903)

Fixed assets 25,040 26,369 (1,329)Total assets 94,080 92,763 1,317

Current liabilities 87,084 84,322 2,762Trade accounts payable

and unsettled travel tickets

43,743 43,836 (93)

Fixed liabilities 4,985 5,512 (527)Total liabilities 92,069 89,835 2,234

Total net assets 2,010 2,927 (917)Retained earnings (10,384) (8,991) (1,393)Total liabilities and

net assets 94,080 92,763 1,317

Main factors for increases and decreases

(Millions of yen)

Cash and deposits (3,403)Advanced payments for group tours 3,671Software (746)

Assets

Sales and trade accounts payable (875)Trade accounts payable (951)(Lump sum retirement payments)Deposits payable 3,996Accrued retirement benefits for employees (472)

Liabilities

June 30, 2012 December 31, 2011Capital adequacy

ratio (%) 2.1% 3.1%

Page 9: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

9

Consolidated Cash Flow Statement for the FY2012 Interim Period

Cash flows from operating activities increased 1,591 million yen, mainly as a result of increases indeposits payable and advanced payments received for group toursCash flows from investment activities rose 2,453 million yen owing to an increase of about 2.4billion yen resulting from the reduction of expenses for acquiring fixed assets such as softwaredevelopment equipmentCash flows used in financing activities increased 3,003 million yen as a result of an increase in short-term debt of 3.0 billion yen borrowed from Kintetsu Corporation in the previous fiscal year.

FY2012 first half FY2011 first half Increase / decrease

Cash flows from operating activities (3,432) (5,023) 1,591

Cash flows from investment activities (739) (3,192) 2,453

Cash flows from financing activities (13) 2,990 (3,003)

Cash and cash equivalents at the end of

the interim period27,509 28,328 (819)

(Millions of yen)

Page 10: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

10

Initiatives for the Second Half of FY2012 and Beyond—Part 1

Group Tour Business

London Olympic Games (official travel agent for theJapanese Olympic Committee)Official sponsor of the committee bidding for the 2020Olympics and Paralympics in TokyoMarathons in Japan including the Hokkaido, Osaka, and Kobe marathons

Expand business in the MICE market, and proposal-style

sales targeting companies and organizations

Travel package for fans of EXILE in HawaiiNational winter athletic meet in Gifu PrefectureCapitalize on demand for trips related to Shikinen Sengu Ceremony in IseKids Project of the Japanese Red Cross Society

Capitalize on demand related to sports

Stimulate demand for travel to sports and cultural events in the

educational sphere

National inter-high-school athletic tournament in Japan’s Hokushinetsu region

FY2011 results FY2012 targetsGroup Tour Business

sales 113.0 125.9

Combined results from KNT and regional subsidiaries (Millions of yen)

Page 11: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

11

Initiatives for the Second Half of FY2012 and Beyond—Part 2

2011 results 2012 targetsCombined sales from outlets 2.2 3.6Amount from outlets in China 1.1 1.3

Individual Travel Business Introduce the KNT Members’ Club in July, a new membership system using both over-the-counter andWeb-based salesEnhance customer consulting services at outlets to improve sales of high-value-added travel packagesDesign and plan more Web-based travel packages to increase the proportion of Web-based sales

Global Business

(Billions of yen)Strengthen business in China and AsiaOrganize travel to Japan with local subsidiaries in China and AsiaImprove collaboration with tour operator KNT Asia Co., Ltd.

Sales from all outlets in China and Asia

2011 results 2012 targetsMate and Holiday business sales 134.8 137.0Amount of Web sales from above 16.0 25.0

(Billions of yen)Web-based sales from the Mate and Holiday businesses

2011 results 2012 targetsWeb sales 20.5 30.0

(Billions of yen)Sales and targets for Web-based sales

020406080

100120140160

2011 2012

12% 18%

Proportion of Web-based sales from the Mate and Holiday businesses

The KNT Members’Club Card

Page 12: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

12

Full-Year Forecasts of Consolidated Financial Results for FY2012

FY2012 forecast FY2011 results Increase (%) Previous forecast announced Feb. 17, 2012

Operating revenue 62,600 56,556 10.7 64,000

Operating income 2,600 1,132 129.7 2,000

Ordinary income 2,700 1,270 112.6 2,000

Net income 1,400 711 96.9 1,600

(Millions of yen)

010,00020,00030,00040,00050,00060,00070,000

FY2011 FY2012 forecast0

200400600800

1,0001,2001,4001,600

FY2011 FY2012 forecast

Operating revenue Net income

Page 13: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

13

FY2012 forecast FY2011 results Increase (%) Previous forecast announced Feb. 17, 2012

Operating revenue 46,300 45,425 1.9 47,900Ordinary income 1,700 736 131.0 1,600

Net income 1,100 559 96.8 1,400

(Millions of yen)

0500

1,0001,5002,000

FY2011 FY2012forecast

Consolidated Non-consolidatedFY2012 forecast YoY change Increase (%) YoY change

Business investment 1,264 (4,906) 1,100 (4,872)Depreciation 2,840 811 2,500 699

Operating revenue Net income

010,00020,00030,00040,00050,000

FY2011 FY2012 forecast

Full-Year Forecasts of Non-Consolidated Financial Results for FY2012

Page 14: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

14

Forecasts of Full-Year Non-Consolidated Sales and Operating Revenue by Type of Travel for FY2012

Sales YoY change (%)

Adjusted YoY change* (%

Operating revenue

YoY change (%)

Adjusted YoY change* (%)

Rate of return (%)

Group tours 102,500 0.2 14.8 16,400 (0.1) 13.3 16.0

Travel in Japan 66,000 (8.8) 6.9 10,900 (9.4) 4.8 16.5

Outbound Travel 36,500 21.8 32.3 5,500 25.5 34.9 15.1Package tours 137,000 1.6 9.8 23,800 3.9 13.6 17.4Travel in Japan 79,000 (1.2) 11.9 14,500 0.2 14.7 18.4

Outbound Travel 58,000 5.8 7.1 9,300 10.2 12.0 16.0Individual travel 84,200 (1.0) 1.2 3,800 3.5 9.3 4.5Travel in Japan 36,100 (0.4) 4.5 2,700 3.3 10.6 7.5

Outbound Travel 48,100 (1.5) (1.1) 1,100 4.0 6.3 2.3Inbound Travel 9,300 79.9 82.4 1,300 64.8 67.7 14.0

Other 1,000 (81.4) (23.4) 1,000 (39.3) 13.4 100.0Total 334,000 0.4 10.0 46,300 1.9 14.2 13.9

(Millions of yen)

* Adjusted YoY change compares the year-on-year change excluding financial results in the previous fiscal year of Kinki Nippon Tourist Tohoku, Kinki Nippon Tourist Chugoku Shikoku, and Kinki Nippon Tourist Merchandising, and excluding financial results of the Individual Travel businesses of Kinki Nippon Tourist Hokkaido, and Kinki Nippon Tourist Kyushu, all of which where split off in January 2012.

Page 15: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

15

Inbound travel3%

Group tours31%

Individual travel25%

Package tours41%

Reference: Non-consolidated Sales by Type of Travel

SalesGroup tours 102,500Package tours 137,000Individual travel 84,200Inbound travel 9,300Other 1,000Total 334,000

(Millions of yen)

Holiday42% Mate

58%

General ECC57%

Education43%

Page 16: Interim Financial Results for Fiscal 2012, the Year Ending ... › en › pdf › material › 2408031.pdf · Interim Financial Results for Fiscal 2012, the Year Ending December 31,

16

IR Inquiries

These materials are not intended to solicit investment. These materials are provided asreference; please refer to the financial statements and securities reports for accurate earningsfigures. The earnings forecasts provided in these materials are based on information availableat the time of writing, but actual results may differ from the forecasts as a result of changes in arange of factors.

Kinki Nippon Tourist Co., Ltd.

Brand Strategy Office, Public Relations Department Higashi-Kanda Fukoku Seimei Building, 1-7-8 Higashi Kanda, Chiyoda-ku, Tokyo, Japan 101-8641Telephone: +81-3-6891-6824Fax: +81-3-6891-6890URL: http://www.knt.co.jp/kouhou/


Recommended