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FAQ
| About the dividends | |
|---|---|
| About the environment in the industry |
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| About the businesses, etc. of TYO | |
| Other questions |
About the dividends
Please tell me about dividends.
The Company places high priority on returning earnings to shareholders and ensuring sufficient internal reserves for anticipatory investments to ensure a solid revenue base, new growth areas, as well as the flexible distribution of dividend according to business performance.
The Company aims to maximize its corporate worth on a Group basis, and thus adopts, as the targets for the distribution of profits, a consolidated payout ratio of around 25% or more based upon consolidated net income.
Nevertheless, in the period to July 2012, the plan is for no dividend to be paid. Moreover, in order to allow an early resumption of dividends, after our Firm received approval at the General Meeting of Shareholders, on October 31, 2011, there was a reversal of capital reserves and an appropriation to reduce the deficit in the earned surplus. Our directors and employees are determined to work towards improved business performance and payment of dividends at an early stage.
The Company aims to maximize its corporate worth on a Group basis, and thus adopts, as the targets for the distribution of profits, a consolidated payout ratio of around 25% or more based upon consolidated net income.
Nevertheless, in the period to July 2012, the plan is for no dividend to be paid. Moreover, in order to allow an early resumption of dividends, after our Firm received approval at the General Meeting of Shareholders, on October 31, 2011, there was a reversal of capital reserves and an appropriation to reduce the deficit in the earned surplus. Our directors and employees are determined to work towards improved business performance and payment of dividends at an early stage.
Please tell me about a shareholder special benefit plan.
We don’t have any at the moment. However, in order to return profits to our shareholders, we are thinking about the implementation of a shareholder special benefit plan that only TYO could provide and that help our shareholders understand our business better.
When is the shareholders' meeting held? And please tell us about the annual account settlement schedule.
The shareholders' meeting is held annually at the end of October.
The annual account settlement schedule is as below.
Early to mid December 1st quarter settlement result announced.
Early to mid March 2nd quarter settlement result announced.
Early to mid June 3rd quarter settlement result announced.
Early to mid September Full-year settlement result announced.
* The above schedule is a guideline and there may be some changes. In addition, please see the IR calendar in the IR information on our website for details of our Firm’s IR schedule.
⇒IR Calender
The annual account settlement schedule is as below.
Early to mid December 1st quarter settlement result announced.
Early to mid March 2nd quarter settlement result announced.
Early to mid June 3rd quarter settlement result announced.
Early to mid September Full-year settlement result announced.
* The above schedule is a guideline and there may be some changes. In addition, please see the IR calendar in the IR information on our website for details of our Firm’s IR schedule.
⇒IR Calender
About the environment in the industry
Please tell me about the size of the market of your business.
Figures for the year 2010
Advertising expenses total 5,842.7 billion yen (98.7% y/y)
･ TV advertising expenses - 1,732.1 billion yen (101.1% y/y)
･ Internet advertising expenses – 774.7 billion yen (109.6% y/y)
･ Promotion media advertising expenses - 2,214.7 billion yen (95.6% y/y)
Source: "Advertising Expenditures in Japan" by Dentsu
Advertising expenses total 5,842.7 billion yen (98.7% y/y)
･ TV advertising expenses - 1,732.1 billion yen (101.1% y/y)
･ Internet advertising expenses – 774.7 billion yen (109.6% y/y)
･ Promotion media advertising expenses - 2,214.7 billion yen (95.6% y/y)
Source: "Advertising Expenditures in Japan" by Dentsu
It is said that the TV commercial production market, which is your main business, has a tendency to shrink and is easily affected by decreased corporate profits due to a recession. Will the performance of your company be affected as well?
The TV-CM market is composed from 90% of the medium costs and 10% of the production costs, but the production market which our Firm belongs to is relatively less susceptible to the effects of the economy and so is a stable market, and the market share of the top three companies in the industry, including ours, accounts for less than 30%, and therefore we are sure that we can further increase our share in the market. In fact, the TV commercial production market shrank by 6.5% from 2006 to 2010, but the net sales of our company increased by 23.6% from 2006 to 2010.
Shift of the net sales of our TV commercial segment and the size of the TV commercial production market(billion of yen)
Please tell me about the position of your company in the industry.
We are a major production company and the 2nd largest in the TV commercial production industry.
About the businesses, etc. of TYO
Please tell me about your businesses.
We are a comprehensive advertising film production company which plans and produces a wide variety of advertising films, from those for TV commercials, websites and events, to those for exhibitions.
Please tell me some reputable work by your company.
We have done a number of TV commercials such as the "Soda, Kyoto, Iko" (I know! let’s go to Kyoto) series for JR Tokai. Also, a NHK’s character, Domo-kun, was produced by a company within our group.
Other questions
Please tell me about your Mid-term Management Plan.
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Net sales | 24 billion yen | 25 billion yen | 28 billion yen |
| Operating income | 1.2billion yen(5.0％) | 1.5billion yen(6.0％) | 1.8billion yen(6.4％) |
| EBITDA | 1.6billion yen | 1.8billion yen | 2.1billion yen |
It seems you have a lot of debt, are you thinking about any measures?
The most important management task of our company is "Strengthening the financial ground".
As a result of promoting the improvement of profitability by concentrating management resources on the advertisement business, and company-wide cost cutting, we were able to decrease interest-bearing debts of 12.4 billion yen as of January 31, 2010 to 7.7 billion yen. Moreover, a syndicate loan agreement for a total sum of 6.85 billion yen was entered into on August 5, 2011, and through this, we ensured the stability of our financial base and convenience of fundraising.There is a long way to go before we have a stable financial footing, but we are determined to decrease the interest-bearing debts and strengthen our financial grounding.
As a result of promoting the improvement of profitability by concentrating management resources on the advertisement business, and company-wide cost cutting, we were able to decrease interest-bearing debts of 12.4 billion yen as of January 31, 2010 to 7.7 billion yen. Moreover, a syndicate loan agreement for a total sum of 6.85 billion yen was entered into on August 5, 2011, and through this, we ensured the stability of our financial base and convenience of fundraising.There is a long way to go before we have a stable financial footing, but we are determined to decrease the interest-bearing debts and strengthen our financial grounding.
