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    6460   JP3419050004

SEGA SAMMY HOLDINGS INC.

(6460)
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Sega Sammy : Notice of Participation in Integrated Resort Business in Yokohama City

06/11/2021 | 05:32am EDT

June 11, 2021

(Translation)

Dear Sirs or Madams,

Name of Company:

SEGA SAMMY HOLDINGS INC.

Name of Representative:

Haruki Satomi,

President and Group CEO,

Representative Director

(Code No. 6460, Tokyo Stock Exchange 1st Section)

Further Inquiry:

Makoto Takahashi,

Senior Vice President,

Executive Officer, Managing Director of Corporate Planning Division (TEL: 03-6864-2400)

Notice of Participation in Integrated Resort Business in Yokohama City

SEGA SAMMY HOLDINGS INC. ("the Company") resolved at Board of Directors meeting held on June 11, 2021 to apply for a request for proposal ("RFP") for the scheduled business operator of the installation and operation of Specified Integrated Resort that will be conducted by Yokohama City by forming a consortium ("Consortium") in collaboration with Genting Singapore Limited ("GENS"), one of the world's leading resort facility operators, together with SOHGO SECURITY SERVICES CO.,LTD. (ALSOK), KAJIMA CORPORATION, TAKENAKA CORPORATION, and Obayashi Corporation, with the aim of participating in integrated resort business in Japan ("Domestic IR business") and submitted an RFP proposal to Yokohama City on the same day, which was accepted.

Participation in the Domestic IR business is based on the assumption that the series of business operator selection processes proceed successfully including the Consortium will be selected as the business operator in the RFP and Yokohama City is approved as the Specified Complex Tourist Facilities Area.

1. Purpose of this case

Since 2012, the Company has accumulated expertise in the development and operation of integrated resort through the consolidation of PHOENIX RESORT CO.,LTD. in Miyazaki prefecture and through PARADISE SEGASAMMY Co, Ltd., a joint venture in South Korea with the aim to participate in Domestic IR business.

In this process, we have come to the conclusion that GENS is the best partner for the success of our Domestic IR business, who has been successfully developing and operating Resorts World Sentosa in Singapore, one of the regions that operates and develops integrated resort under the strictest discipline in the world. We worked with GENS to analyze the market for Domestic IR business, formulate development plans, organize consortium, etc., and prepared for an RFP application and we have officially applied for the RFP conducted by Yokohama City.

The launch of a formal Domestic IR business is subject to the following prerequisites: the execution of agreement between shareholders for the purpose of establishing joint ventures, etc.; the formal selection of the Consortium as a business operator in the RFP; and subsequent approval of Yokohama City as the Specified Complex Tourist Facilities Area by the Ministry of Land, Infrastructure, Transport and Tourism. Through these processes, we aim to be selected as a formal operator of Domestic IR business.

1

2. Outline of this case

  1. Details of business
    Planning, development, and operation of IR facilities in Yokohama City Scheduled opening date: late 2020s (plan)
  2. Divisions in charge of the concerned business
    We assume that the Consortium will become the main entity, but the details are undecided.
  3. Amount and content of expenditure for the commencement of concerned business
    We plan to spend up to approximately 120.0 billion yen from us on a cumulative basis up to business

start date, assuming that we pass a series of processes such as the selection as a business operator and area certification. The amount of expenditures may fluctuate depending on the ratio of borrowings from financial institutions and other factors in the future. In addition, even if the maximum expenditure is made, we expect that this business will not be included in the scope of consolidation of the Company.

3.Overview of GENS

(1)

Name

Genting Singapore Limited

(2)

Location

10 Sentosa Gateway, Resorts World Sentosa, Singapore

(3)

Job Title/Name of

President COO, Tan Hee Teck

Representative

(4)

Details of business

Development and operation of integrated resort facilities

(5)

Capital stock

5,528 million SGD (Approx. 458.7 billion yen)

(6)

Date of

August 16, 1984

establishment

Capital

There is no capital relationship between the Company

relationship

and the company concerned which should be listed.

Personal

There is no personal relationship between the

Company and the concerned company which should

relationships

Relationship

be listed.

(7)

between a listed

Business

There is no business relationship between the

company and the

Company and the concerned company which should

relationship

company concerned

be listed.

Relevant

Status to

The company concerned does not qualify as a relevant

Relevant

party of the Company.

Party

(8)

Consolidated operating and financial results of the concerned company for the last three years

Fiscal year end

Fiscal year ended

Fiscal year ended

Fiscal year ended

December 31, 2018

December 31, 2019

December 31, 2020

Consolidated net assets

S$7,781 million

S$8,058 million

S$7,836 million

645,823 million yen

668,814 million yen

650,388 million yen

Consolidated total assets

S$9,767 million

S$9,250 million

S$8,788 million

810,661 million yen

767,750 million yen

729,404 million yen

Consolidated net assets

S 64.6

S 66.8

S 64.9

per share

53.6 yen

55.4 yen

53.9 yen

Consolidated revenue

S$2,539 million

S$2,480 million

S$1,064 million

210,737 million yen

205,840 million yen

88,312 million yen

Consolidated operating

S$975 million

S$863 million

S$116 million

profit

80,925 million yen

71,629 million yen

9,628 million yen

Consolidated net profit for

S$755 million

S$689 million

S$69 million

the financial year

62,665 million yen

57,187 million yen

5,727 million yen

Consolidated basic

S 6.27

S 5.71

S 0.57

earnings per share

5.2 yen

4.7 yen

0.5 yen

Dividends per share

S 3.5

S 4.0

S 1.0

2.9 yen

3.3 yen

0.8 yen

*Some information are undisclosed as per the request of the other party.

*S$ = Singapore dollars

2

*S = Singapore cents

*Exchange rate: 1S$ = 83 yen (As of the end of May 2021)

4. Schedule

(1)

Resolution date at Board

June 11, 2021

of Directors meeting

(2)

Selection of a business

Summer 2021 (plan)

operator

(3)

Area Certification

In or after May 2022 (plan)

(4)

Commencing date of

Late 2020s (plan)

business

5. Forecast

Expenditures aimed at participating in Domestic IR business are subject to be selected as a business operator, etc. in a series of processes. Therefore, the impact on the full-year consolidated operating results for the fiscal year ending March 31, 2022 is minimal.

Through this Consortium, we will proactively participate in IR business in Yokohama City, create new industry in Japan, and contribute to the revitalization of the domestic economy and the tourism industry. We will also aim to expand Domestic IR business in the future by developing and operating highly transparent and sustainable IR facilities that contribute to the sustainable development of society.

- End -

(Reference) Consolidated operating results forecast for this fiscal year (Announced on May 13, 2021) and consolidated operating results for the previous fiscal year

(Unit: million yen)

Consolidated

Consolidated

Consolidated

Profit attributable

Operating

to owners of

Net Sales

Ordinary Income

Income

parent

Consolidated operating

forecasts for the

current fiscal year

312,000

20,000

20,000

14,000

(Fiscal year ending

March 2022)

Consolidated operating

results for the previous

277,748

6,553

1,715

1,274

fiscal year

(Fiscal year ended

March 2021)

3

Disclaimer

Sega Sammy Holdings Inc. published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 09:31:03 UTC.


© Publicnow 2021
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Number of Analysts 7
Last Close Price 1 379,00 JPY
Average target price 2 000,00 JPY
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Haruki Satomi President, Group CEO & Representative Director
Koichi Fukazawa Group CFO, MD, Head-Accounting & IT Solutions
Hajime Satomi Chairman
Takaharu kato Executive Officer
Takeshi Natsuno Independent Outside Director
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