Presentation
Materials(Appendix)
December, 2020MIRAIT Holdings Corporation

Table of Contents
1. Overview of MIRAIT Holdings･･･ ２

2. Historical Performance･･･ ３－ ４

3. Financial Overview for the Six Months Ended September 30, 2020･･･ ５

4. Orders Received and Net Sales by Business Category･･･ ６

5. NTT Business･･･ ７－ ８

6. Multi-carrier Business･･･ ９－１０

7. Environmental & Social Innovation Business･･･１１－１２

8. ICT Solution Business･･･１３－１８

9. ESG Initiatives･･･１９－２１

10. Changes in the Market Environment for the Mobile Business･･･２２

11. Supplementary Financial Information･･･２３－２６

12. Major Shareholders･･･２７

13. Share Price･･･２８

Precautionary Statement･･･２９（Note）”Net income attributable to owners of parent” is referred to as “net income” in this presentation.

11. Overview of MIRAIT Holdings (As of September 30, 2020)
Established
Location
President (CEO)October 1, 2010
5-6-36 Toyosu, Koto-ku, Tokyo
Toshiki Nakayama

Stock listing

1st Section of the Tokyo Stock Exchange (Code: 1417)

Business
description

Telecommunications engineering work, electrical work, civil engineering workand building construction work; management of subsidiaries and Group
companies

Credit ratings

Rating & Investment Information, Inc. (R&I): AJapan Credit Rating Agency, Ltd. (JCR): A

Office network【Domestic】49 locations *Total of MIRAIT, MIRAIT Technologies, TTK, SOLCOM and Shikokutsuken【Overseas】31 locations (Singapore, Sri Lanka, Australia, Philippines, etc.)

Number of
employees【Consolidated】 12,851（MIRAIT Holdings（MIRAIT（MIRAIT Technologies（Lantrovision（TTK（SOLCOM（Shikokutsuken

102): Consolidated: Consolidated: Consolidated: Consolidated: Consolidated: Consolidated

5,329）
3,096）
1,019）
1,088）
1,560）
657）
2

2. Historical Performance(Unit: bil. yen)

(Unit: bil. yen)

450

30

300

20

150

10

0

2011.32012.32013.32014.32015.32016.32017.32018.32019.32020.3

Net sales (LHS)

246.6

236.0

271.0

277.7

283.7

269.5

283.2

312.9

375.9

441.1

Operating income (RHS)

4.9

5.2

10.8

11.4

14.1

6.1

10.0

16.7

20.6

21.9

0

3

2. Historical Performance
Unit: bil. yen※（ ） indicates results for the MIRAIT Group (Mirait, Mirait Technologies and Lantrovision(S) Ltd.)
excluding the impact from the merged companies.

FYE March 2017

FYE March 2018

Orders received

323.3

326.3

Net sales

283.2

312.9

Gross profit

33.5

39.7

11.8%

12.7%

SG&A

23.4

23.0

SG&A ratio

8.3%

7.4%

Operating income

10.0

16.7

Operating income ratio

3.5%

5.3%

Ordinary income

10.5

17.8

Ordinary income ratio

3.7%

5.7%

6.4

11.5

2.3%

3.7%

Gross profit margin

Net income
Net income ratio

FYE March 2019

392.6

446.5

（320.4）（344.5）

375.9

441.1

（330.8）（344.3）

46.9

52.1

（41.3）（41.4）

12.5%

11.8%

（12.5%）（12.0%）

26.2

30.1

（23.6）（24.4）

7.0%

6.8%（7.1%）（7.1%）

20.6

21.9（17.6）（16.9）

5.5%

5.0%（5.3%）（4.9%）

21.9

23.2（18.7）（17.6）

5.8%

5.3%（5.7%）（5.1%）

25.7

15.2（13.5）（11.0）

6.8%

3.4%（4.1%）（3.2%）(Note)(Note) Upper figure for FYE 3/2019 include extraordinary gains from acquisitions (negative goodwill of 10.0 bil. yen)
* Figures are rounded down to one decimal place.

FYE March 2020

FYE March 2021
(Forecast)

450.0
445.0
53.3
12.0%
30.3
6.8%
23.0
5.2%
24.3
5.5%
16.0
3.6%
4

3. Financial Overview for the Six Months Ended September 30, 2020
FYE March 2020

FYE March 2021

Units: bil. yen
Q2 actual results

Q2 actual results

YoY Change
Amount%Full-year
Forecast

Orders received

222.6

229.1

+ 6.5

450.0

Net sales

182.9

191.7

+ 8.8

445.0

Gross profit(Gross profit margin)

19.5（10.7％）

21.4（11.2％）+ 1.9（+ 0.5p）

53.3

SG&A
(SG&A ratio)

14.6（8.0％）

14.6（7.6％）+ 0.0（- 0.4p）

30.3

Operating income(Operating income ratio)

4.9（2.7%）

6.7（3.5%）+ 1.8（+ 0.8p）

23.0

Ordinary income(Ordinary income ratio)

5.5（3.0%）

7.7（4.0%）+ 2.2（+ 1.0p）

24.3

Net income(Net income ratio)

3.3（1.8%）

4.7（2.5%）+ 1.4（+ 0.7p）

16.0

Construction accountcarried forward

184.6

+ 3.1

―

―

187.7

（Note）”Net income attributable to owners of parent” is referred to as “net income” in this presentation.
* Figures are rounded down to one decimal place (bil. yen).

5

4. Orders Received and Net Sales by Business Category
FYE March 2020

Orders received Q2 actual results
Units: bil. Yen(a)

FYE March 2021

FYE March 2020

FYE March 2021

Q2 actual results

Full-year Results

Full-year Forecast

YoY Change(b)－(a)(b)

Percentagechange(b)／(a)Progress(a)／(c)(c)

Progress(b)／(d)(d)

NTT
Business

77.6

77.8

+ 0.2

+ 0.3%

154.8

50.1%

156.0

49.9%

Multi-carrierbusiness

52.9

53.0

+ 0.1

+ 0.2%

106.2

49.8%

102.0

52.0%

Environmental &social innovation
business

25.6

23.3

- 2.3

- 9.0%

54.3

47.1%

59.0

39.5%

ICT solution
business

66.4

74.8

+ 8.4

+ 12.7%

131.0

50.7%

133.0

56.2%

Total

222.6

229.1

+ 6.5

+ 2.9%

446.5

49.9%

450.0

50.9%

Net sales
Units: bil. Yen

FYE March 2020

FYE March 2021

FYE March 2020

FYE March 2021

Q2 actual results

Q2 actual results

Full-year Results

Full-year Forecast(a)

YoY Change(b)－(a)(b)

Percentagechange(b)／(a)Progress(a)／(c)(c)

Progress(b)／(d)(d)

NTT
Business

65.7

68.3

+ 2.6

+ 4.0%

156.3

42.0%

155.0

44.1%

Multi-carrier
Business

38.7

39.8

+ 1.1

+ 2.8%

97.2

39.8%

100.0

39.8%

Environmental &social innovation
business

26.5

25.8

- 0.7

- 2.6%

66.7

39.7%

59.0

43.7%

ICT solution
Business

51.9

57.7

+ 5.8

+ 11.2%

120.8

43.0%

131.0

44.0%

Total

182.9

191.7

+ 8.8

+ 4.8%

441.1

41.5%

445.0

43.1%

* Figures are rounded down to one decimal place (bil. yen).

65. NTT Business Construction, maintenance and operation of fixed communication facilities of NTT.
Centered on the Greater Tokyo and Kansai regions.

（ Net sales ）Business where the most synergies can be achieved throughmanagement integration

156.3 155.0（Unit: bil. yen）

●Disaster recovery support➢Cooperation between fivecompanies for disaster recovery
support

128.3
98.2 100.5（FY2019）
Typhoon No. 15: Joint effort
for disaster recovery in Chiba●Enhancing operational efficiency➢Integrate inspection/calculation
operation➢ Efficient Optos correction
operation➢Joint events on the theme of
KAIZEN

Synergies through integration●Cost reduction using
benchmarks

FYE 3/17

FYE 3/18

FYE 3/19

FYE 3/20

FYE 3/21
Forecast➢Group-wide comparative cost
analysis（FY2019）
Compiled 7-12/2019 data forthree companies for multidimensional analysis (on-going)●Integration of systems➢Cost reduction by user system
integration (launch within FYE
3/2021)➢Improve utilization by sharing
ICT tools developed by various
group companies

7Advanced wireless environment business

Capital investments by NTT East and NTT WestBusiness to support telecommunication carriers to extend
optical fiber lines to wireless stations in geographicallychallenging locations using subsidies, in order to create theadvanced wireless environment necessary for 5G, IoT, etc.

（Unit: bil. yen）

Image

Transmission route forhigh-speed, high-capacity
wireless stations

Tourism
IoT

Education
IoT(５G, etc)
Entrance of wireless station(closures, etc.)
Smart mobility

547.9

549.6

541.0

522.5

Agriculture
IoT

518.0
Smart housing

Of which,
optical-related
work

156.0

154.0

161.0

150.0

Telecom
bldg

Regional hub

156.0◆Adjust JV capacity utilization across thegroup to take on construction work

FY2016FY2017FY2018FY2019FY2020（Plan）(Notes) 1. NTT figures based on IFRS from FYE 3/2018 (Regional communications business)
2. Figures for optical-related work from FYE 3/2019 reflect investment plans submitted
to the government.

Coveragearea➢Allocate capacity in Kansai to
Chugoku and Shikoku➢Allocate capacity in Greater
Tokyo to Hokkaido

Source: MIRAIT from company information

86. Multi-carrier Business Nationwide works on construction, maintenance and operation of communications
facilities of all mobile carriers.
 Fixed communication equipment for NCCs, CATV work, global business.

（ Net sales ）Leverage group synergies to support thebuilding of Rakuten Mobile’s infrastructure（Unit: bil. yen）

76.9

84.1

92.5

97.2 100.0

MiraitGroup
Synergies●Execute base station work leveraging Mirait Group’s
nationwide construction network
FYE 3/17

FYE 3/18

FYE 3/19

FYE 3/20

FYE 3/21
Forecast●Provide comprehensive support for building out base station
infrastructure leveraging Mirait Group’s multi-skill capabilities●Become a core supplier for base station/ network building
materials, power supply and wireless vehicles
9Capital investments by the three major mobile carriers（Unit: bil. yen）

Docomo

KDDI

3.3

320.5

350.0

519.4

560.8

597.1

577.0

187.1

RAKUTEN

Unpublished

No of 5G base stations
Docomo
KDDI

381.6

369.7

400.0

SoftBank
RAKUTEN

601.7

615.0

610.0

593.7

572.8

570.0
FY2019FY2016FY2017FY2018FY2019FY2020（Plan）(Notes) 1.NTT figures based on IFRS from FY2017
2.SoftBank figures prior to FY2016 reflect capital investments for the domestic
telecommunications business of the SoftBank Group
3.Rakuten figures reflect total mobile-related capital investments
Source: MIRAIT from company information

Achieve 3 times or more base stations vs.
plan by end-FY23(accelerate plan by more than 20%)

8.3

Soft Bank

Rapid expansion of 5G coverage area

FY2020

FY2021

FY2022docomoScheduled to expand 5G millimeter wave service to 500 cities by endFY20

KDDI

10,000 stations by 3/21 and 50,000 by 3/23; achieve 90%
population coverage; establish 1.7G/700M bands for 5G

Softbank

Plan to invest 2.2 trn. yen in 5G and 6G in 10 years from 2020

Source: Mirait from Ministry of Internal Affairs and Communication

10

7. Environmental & Social Innovation Business Offering comprehensive solutions for the construction and maintenance ofenvironmental/ new energy-related facilities, social infrastructure, electrical/ airconditioning facilities, etc.

（ Breakdown of net sales ）（ Net sales ）Electric, air conditioning

Civil engineering

Solar power

Battery

EV charging（Unit: bil. yen）

（Unit: bil. yen）

66.7

56.3
42.0

43.6

FYE 3/17

FYE 3/18

FYE 3/19

FYE 3/20

66.7

59.0

FYE 3/21
Forecast

56.3
42.0

43.6

FYE 3/17

FYE 3/18

FYE 3/19

FYE 3/20

59.0

FYE 3/21
Forecast

11

Initiatives for underground power line projects
Project in Ponto-cho, Kyoto to lay power lines underground; adopted various new
construction methods for work in narrow roads.
【Key features】
・Use of large construction machinery difficult due to requirement to preserve landscape・New methods adopted to shorten the construction period.
Reducing space undergroud

Completed

Before completion

Installment work

Comparison of Rate of Elimination of Power Poles with Other Countries

London/Paris/ Hong kong(2004）

100%

Singapore（2001）

100%

seoul（2017）
Tokyo 23 wards（2017）49%
8%

Source: Created by MIRAIT based on materials published by the Ministry of Land, Infrastructure, Transport and Tourism

12

8. ICT Solution Business Support to create ICT infrastructure such as cloud, office solutions, Wi-Fi andbroadcasting networks.

（ Breakdown of net sales ）（ Net sales ）（Unit: bil. yen）

84.6

120.8

131.0

Goods Sales, Other

LAN・PBX

Software

Stock Business

Wi-Fi（Unit: bil. yen）

98.7

84.6

65.9

FYE 3/17

Broadcasting

120.8

131.0

98.7

65.9

FYE 3/18

FYE 3/19

FYE 3/20

FYE 3/21
Forecast

FYE 3/17

FYE 3/18

FYE 3/19

FYE 3/20

FYE 3/21
Forecast

13

Initiatives in global businessNet sales target for Group: 20.2 bil. yen（of which ICT (Lantrovision): approx. 15.6 bil. yen, multi-carrier: approx. 4.6 bil. yen)

Business environment/ strategy at Lantrovision
・Mixed impact of COVID-19 by country⇒Established commitment line to securenecessary funds for any contingencies
・Expand business domains and generatesynergies with existing and newly acquired
スリランカ
businesses (electrical facilities construction※1,
telecommunication tower construction andsharing service business※2, etc.)

Lantrovision
Net sales forecast: 15.6 bil. yen
Global network of offices in 28 cities across
13 countries/regions.

Japan

Singapore

Mirait Technologies Australia
Net sales forecast : 4.6 bil. yen
フィリピン※1 YL Integrated Pte Ltd ＜Singapore＞※2 Shanghai Changling Communication Equipment Co.,Ltd＜China＞

Australia

14

Initiatives in datacenter business
Expanding services using know-how accumulated through the operation of own DC
Operation of own DC and Rental DC
6/2018: Launched operations at Osaka No 1. Datacenter
5/2019: All floors occupied and running at full capacity
Know-how from Own DC
4/2020

Launch of leased DC in Osaka City

Osaka No.1 Data Center

Expand services through network DC
Rental DC

Own DC

Establish network in
response to client needs

Expansion※Connect to leased datacenter via
underground cable to expand services
leveraging know-how accumulated
through own datacenter operations.
Floor OEM service
Total DC management service
Virtual network DC service
15

Initiatives in drone business
Providing a breadth of services targeting areas such as facility inspection,measurement, agriculture and disaster recovery, leveraging alliances with othercompanies⇒Established “Miratec Drone Corp.” on July 1, 2020
①Human resources/ locations
・Approx. 600 pilots were trained in the 3 years up to 3/2020.
・Established network of pilots through alliances primarily with partner
telecommunication construction companies （11 companies）②Systems
・Won order for all-weather drone systems from Chubu Regional
Development Bureau, and Tohoku Regional Development Bureau
・Won order for drone lease in collaboration with NTT Finance・Won order for drone kitting/ maintenance from Komatsu③Alliances
・Inspection of telecommunication facilities/ station buildings andsurvey of disaster-affected areas outsourced from NTT Group・“Surveying of rice field growing conditions” for Farm Eye
・Kobe City Waterworks Bureau: surveying of water quality andalgae growth at reservoirs

Water utility conduit inspection

Surveying rice field growing
conditions

16

Initiatives in New Domains/ Products (Teleworking Solution)
・Teleworking solutions do not just simply promote “work-life-balance”, but also allow
for work to be done remotely in case of contingencies such as disasters.
・The MIRAIT Group will leverage its knowhow to provide the best teleworking solution
for each customer.

Wide range of solutions

OfficeSolutions using cloud

SD-WAN Solutions
Home

Remote classroom solutions foreducational purposes

Satellite officeInternet

Camera solutions
17

MIRAIT Group’s initiatives for “mirai = the future”■ Workstyle/ health monitoring condition reporting system “ C O N R E P O ”

Smartphone

PC

Employee・Input, aggregation and management of
employee working arrangements and healthconditions
・No app required; access by PC/ smartphone
・Input screen and report can be customized
・Automated data aggregation and CSV output
・Authority setting (data access and editing)Manager

・Automatic e-mail notification for poor healthconditions18

9. ESG Initiatives
E

Environment

・Contribute to penetration of renewable energy⇒Solar power EPC business・ Contribute to penetration of new energy⇒EV chargers⇒Rechargeable battery system

MW

400

349

363

2018

2019

300
212
200

163

0
2015

EV chargers

Rechargeable battery
system2016

2017

Mirait’s track record in solar panel installation work
(generation capacity)

・Sale of goods that are environmentally-friendly⇒TTK belted net fence-Protect public facilities from damage due towind and lightening⇒Nano-gate (Solcom)-Self-cleaning system for water supply/
drainage pipes
・ISO 14001 certification

TTK belted net fence

Nano-gate

19

S

Society・Contribute to the local society⇒Building of infrastructure（construction work for telecommunications networks,
surveillance cameras, highways, water utility networks, etc.）⇒Early rebuilding of infrastructure following major disasters such as
typhoon and earthquakes.
⇒High-accuracy GPS system for Tokyo Fire Department

Rebuilding of utility
poles and cables

・Building hard and soft systems for safety⇒Safety patrol⇒Cloud-based drive recorders
・Promoting diversity （hiring women, elderly and disabled individuals）⇒ Highest “Eruboshi” certification awarded, etc（Mirait Technologies）
・Workstyle reform⇒Proper management of overtime work and annual paid leave⇒Introduction of flexible working hours, irregular workstyles andtelework⇒Upgrading of operational tools to enhance efficiency(going paperless, reducing business travel)⇒Use of ICT to achieve efficiency (RPA, i-Construction)

Recovery work formobile base stations

Recovery work formobile base stations

20

G

Governance・Strengthen corporate governance⇒Establish and manage internal control system⇒Issues handled by Compliance Committee and Risk Management Committee⇒Self-assessment of effectiveness of Board of Directors⇒Nomination and Compensation Committee chaired by outside director（12/2018）⇒Adopted performance-based stock remuneration plan for directors and executive
officers (excluding outside directors and non-executive officers) (9/2016)
Expanded scope to three newly merged companies (12/2019)・Secure shareholders’ rights and equality⇒Management decisions with a focus on capital costs⇒Enhance constructive dialogue with shareholders

2110. Changes in the Market Environment for the Mobile Business～

General
Telecommunication
method【Generation】

FY2019FY2020Era namechange
LTE-Advanced【4G】

FY2021～RWC▲TOB【docomo】

Olympic /Paralympic Games【5 G】

Ultra high-speed⇒max 10Gbps（100X 4G）
Multiple concurrent connections⇒1 million/k㎡ (100X 4G）

Ultra low latency⇒approx. 1 millisecond (1/10 of 4G）

Osaka Expo

【5 G expansion】

Advancement in 4G
3.5㎓ band

4G

700㎒ band
1.7㎓ bandKDDI
RakutenTotal investment (FY 2014-2019)
approx. 430.0 bil. Yen(total for 3 carriers)▲【3 carriers 】Common target of 90% population coverage by end-3/2019

Total investment (FY2014-2025) ）approx. 640.0 bil. yen (total for 3 carriersl)▲【Rakuten】4,400 base stations at end-3/2020▲【KDDI】Service launched 3/2019▲【Rakuten】Full service launched 4/2020▲ Target▲【Rakuten】MNO service launched 10/2019

Total investment (FY2018-2028) approx. 770.0 bil. yen (total for 2 carriers)▲

3.4㎓ band
docomoSoftBank
Build network in unpopulous areas
Develop services for advanced 5G
Improve reception in railway/

5G

28㎓ banddocomoKDDI
SoftBank
Rakuten

4.5㎓ band
docomo28㎓ bandLocal
5G▲ 4/2020

4/2019▲ Allocation of frequencies

Tax benefit program topromote investments in 5G

Accelerate plan

20% early progress in number of
5G base station by FY2023▲ 【4 carriers】

Target population
coverage of 98% in
FY 2024▲【docomo】10,000 base stations by 6/2021▲【docomo】9/2020 pre-service launch ▲【docomo】3/2020 Launch of commercial service▲ 【KDDI】 9/2020 pre-service launch ▲【KDDI】 3/2020 Launch of commercial service▲【SoftBank】7/2020 pre-service launch▲【docomo】20,000 base stations by 3/2022▲【KDDI】10,000 base stations by 3/2021▲【KDDI】50,000 base stations by 3/2022▲【SoftBank】3/2020 Launch of commercial service ▲【Softbank】10,000 base stations by 3/2021 ▲【SoftBank】50,000 base stations by
3/2022▲4/2020. Established 5G JAPAN 【JV between KDDI,SoftBank】▲【Rakuten M】9/2020 Launch of commercial service▲【Rakuten】4/2019 5G Launch of consortium▲【Rakuten M】3/2021 Launch of service in all prefectures▲3/2020 Strategic parentship agreement between Rakuten and AST&Science (US)

Total investment (FY2019-2024) approx. 1.6 trn, yen (total for 4 carriers)▲ 12/2019(28㎓) Guideline established / disclosed

Start of process to establish
framework/ application

4.5㎓ band

Target population coverageof 80% in FY2022

Total investment (FY2018-2028) approx. 170.0 bil. yen (total for 2 carriers)

underground roads

3.7㎓ band

population
coverage of
80% inFY2025▲ 【Rakuten】Population coverage of 70%(3/2021)

Local 5G development verification▲

Framework to be established(4.5㎓) end-2020

docomo 795.0 bil. yen
KDDI
466.7 bil. yen
SoftBank 206.1 bil. yen
Rakuten 194.6 bil. yen▲2024年度
特定基地局数（ドコモ） 26,334局（KDDI） 53,626局（（楽天） 23,735局

Accelerate use of local 5G to establish infrastructure in regional areas
and to mind the gap between services available in urban vs.suburban
locations
出所：各種公表資料等より当社作
Expansion of frequencies
Gradual implementationof local 5G rules
成2211. Supplementary Financial Information(1) Assets, Liabilities and Net Assets

Balance Sheet as of March 31, 2020
(Unit: bil. yen)

Balance Sheet as of September 30, 2020
(Unit: bil. yen)

Liabilities
133.4
Total assets
352.1

Accounts payable for construction
contracts: and others 58.7
Interest-bearing debt: 27.8
(Loans: 16.7)(Lease obligations: 10.9)(Breakdown)
Current assets: 225.7
Cash and deposits: 33.5
Accounts receivable from completed
construction contracts: 147.5
Costs on uncompleted construction
contracts and other :32.7

Non-current assets: 126.4
Tangible fixed assets: 82.5
Intangible fixed assets: 6.7

Liabilities
98.4
Total assets
319.7

Accounts payable for construction
contracts: and others 44.7
Interest-bearing debt: 10.9
(Loans: 0.2)
(Lease obligations: 10.6)(Breakdown)
Current assets: 195.2

Net assets
218.7(Breakdown)
Capital stock: 7.0
Capital surplus: 69.3
Retained earnings: 135.5
Treasury stock: -1.3
Minority interest: 3.2* Figures are rounded down to one decimal place (bil. yen).

Cash and deposits: 40.4
Accounts receivable from completed
construction contracts: 102.0
Costs on uncompleted construction
contracts and other : 42.4

Non-current assets: 124.5
Tangible fixed assets: 83.4
Intangible fixed assets: 7.2

Net assets
221.2

Equity capital:
217.0
Equity ratio:
67.9%(Breakdown)
Capital stock: 7.0
Capital surplus: 69.4
Retained earnings: 138.2
Treasury stock: -1.3
Minority interest: 4.2

23

(2) Changes in Cash Position
Cash Flows
Units: bil. yen

FYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

FYE March2020 Q2FYE March
2021 Q2

Operating cash flow

4.7

12.5

6.4

7.9

19.3

27.4

Investment cash flow

- 11.1- 10.0- 13.5

- 9.1

- 5.5

- 0.6

Financial cash flow

10.4

- 3.6

- 1.9

- 2.8

- 16.3- 19.6

Free cash flow

- 6.4

2.5

- 7.1

- 1.2

13.8

26.8

(Note) Free cash flow = operating cash flow + investment cash flow

Cash and Deposits/ Interest-bearing Debt
Units: bil. yen

FYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

FYE March2020 Q2FYE March
2021 Q2

Cash and cash equivalents

33.1

32.2

35.6

31.6

28.9

38.5

Interest-bearing debt

- 18.1- 19.0- 30.0- 27.8- 18.8- 10.9Net cash

15.0

13.2

5.6

3.8

10.1

27.6

(Notes) 1. Net cash is the amount obtained by deducting interest-bearing debt from cash and cash equivalents.
2. Cash and cash equivalents exclude deposits and securities not maturing within three months.
* Figures are rounded down to one decimal place (bil. yen).

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(3) Key Performance Indicators
Capital Expenditure / Depreciation and Amortization
Unit: bil. yen

FYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

FYE March
2021 (Forecast)

Capital expenditure

4.6

12.6

19.3

9.1

7.2

Depreciation andamortization

2.8

3.0

4.0

5.8

4.7

(Note) FYE 3/2021 (Forecast) in depreciation and amortization exclude the impact of leases from depreciation and amortization.

Capital-related IndicatorsFYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

Equity ratio

56.9%

58.5%

59.3%

61.2%

Return on equity (ROE)

5.2%

8.8%

15.4%
（9.4%）

7.4%

Return on assets (ROA)

3.1%

5.1%

9.1%

4.5%

(Note) FYE 3/2019 figures in () exclude the impact of extraordinary gains from recent acquisitions (negative goodwill of 10.0 bil. yen).

* Figures are rounded down to one decimal place (bil. yen).

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(4) Shareholder Return and Shares Outstanding
Shareholder Return IndicatorsFYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

FYE March
2021 (Forecast)

Dividend payout ratio

37.6%

24.1%

13.5%
（23.6%）

26.7%

29.5%

Total return ratio

76.6%

24.1%

13.5%
（23.6%）

95.4%

89.2％

(Note) FYE 3/2019 figures in () exclude the impact of extraordinary gains from the recent acquisitions (negative goodwill of 10.0 bil. yen).

Shares Outstanding
Unit: 1,000 shares

FYE March
2017

FYE March
2018

FYE March
2019

FYE March
2020

Issued number ofshares85,381

85,381

108,325

108,325

Number of dilutive
shares

12,061

12,061

12,098－

Number of treasury
shares

5,985

5,840

6,418

479

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12. Major Shareholders (As of September 30, 2020)

Shareholder

Number of
Shares Held(thousands)

Shareholding
Ratio
(%)

10,556

9.7

Sumitomo Electric Industries, Ltd.

9,560

8.8

The Master Trust Bank of Japan, Ltd(Trust Account)

8,376

7.7

2,488

2.3

Custody Bank of Japan, Ltd. (Trust Account)

Sumitomo Densetsu Co, Ltd.

Shareholder Composition

Treasury stock
0.4%

Individuals
22.0%
Financial

Custody Bank of Japan, Ltd. (Trust Account 9)

2,189

2.0

MIRAIT Holdings Employee's Stock Option Plan

1,936

1.8

J.P. MORGAN BANK LUXEMBOURG S.A. 1300000

1,809

1.7

Custody Bank of Japan, Ltd. (Trust Account 5)

1,677

1.5

JP MORGAN CHASE BANK 385781

1,449

1.3

GOVERNMENT OF NORWAY

1,346

1.2

Sharesinstitutions
35.7%
Japanese
Foreigncorporations

corporations
17.3%

23.1%
Securities

Companies
1.5%

108,325

The number of shares held shown is rounded down to the nearest 100 shares and the ownership is calculated by rounding off to one decimal place.

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13. Share Price (Since establishment of MIRAIT Holdings on October 1, 2010)■Performance of MIRAIT compared to major indices (Closing price)
280%

TOPIX

N225

MIRAIT

September.26, 2018
1,970 yen (highest)

Closing price on
November 30, 2020
1,565 yen

180%

80%

Oct.1, 2010
553 yen (listed)-20%
2010/10/1

Mar.15, 2011499 yen (lowest)

2012/10/1

2014/10/1

Closing price on November 30, 2020
Share Price 1,565 yen
■ PER
10.5x
■ PBR
0.8x
■ Dividend yield 2.9%

2016/10/1

2018/10/1

2020/10/1

Rate of increase as of November 30, 2020
■ MIRAIT 183.0%■ TOPIX 111.4%■ N225 181.1%
28

Precautionary Statement
Statements and quotes relevant to the forecasted values in thishandout are the future prospects based on the plans and prospects of
the Company at this point in time.
The actual business results could be significantly different from thosestated in this handout due to changes in conditions.
As such, please be advised that we will not be able to guarantee theaccuracy of the forecasted values, in this handout and the session,over the period of time to come in the future.

MIRAIT Holdings Corporation
29