スライド 1

Financial Results Briefing for the
December 2005 Term
March 3, 2006
SBS Co., Ltd.
Securities code: 2384
Table of Contents
І. Financial Results for the December 2005 Term &
Earnings Forecast for the December 2006 Term
ІІ. Post-M&A Activities and Business Strategies
III. Briefing on Balance Sheet
IV. Future Efforts
SBS Co., LTD. Financial Results Briefing for 2005
1
I. Financial Results for the December 2005 Term & Earnings
Forecast for the December 2006 Term
SBS Co., LTD. Financial Results Briefing for 2005
2
Consolidated Statement of Income for December 2005 Term
(Unit: Million Yen)
Dec. 2004
Dec. 2005
Percentage
(%)
Percentage
(%)
Change
Sales
45,123
100.0
89,319
100.0
+ 97.9 %
Cost of sales
41,505
92.0
80,602
90.2
+ 94.2 %
Gross Profit
3,618
8.0
8,717
9.8
+ 140.9 %
Selling, general and
administrative
expenses
2,950
5.5
7,211
8.1
+ 244.4 %
Operating profit
668
1.5
1,506
1.7
+ 125.4 %
Ordinary profit
663
1.5
2,125
2.4
+ 220.3 %
Net income
217
0.7
1,197
1.3
+ 450.4 %
 Foods Lec contributed to the consolidated results for the full year.
 TL Logicom (former Tokyu Logistics) and two other companies contributed for the half-year.
 Same-day delivery business and human resources business continued steady growth
SBS Co., LTD. Financial Results Briefing for 2005
3
Consolidated Segment Information for December 2005 Term
Logistics
business
Marketing
business
Human
resources
business
Other
businesses
Results for Dec.
2004
Sales
Operating
profit
Corporate
and/or
Elimination
Consolidate
d base
(Unit: Million Yen)
31,838
9,275
4,522
15
(528)
45,123
542
236
321
4
(435)
668
Results for Dec.
2005
(Unit: Million Yen)
73,896
9,469
5,074
1,497
（617）
89,319
(Change)
+ 132.1%
+2.1%
+12.2%
+9880.0%

+ 97.9%
Operating
profit
1,153
(84)
262
272
（97）
1,506
(Change)
+ 112.7 %

(18.5%)
+ 6,700.0%

+ 125.4%
Sales
SBS Co., LTD. Financial Results Briefing for 2005
4
Consolidated Segment Information for December 2005 Term
 Logistics
business
 General distribution and food distribution:
 Foods Lec’s performance has been strong
 TL Logicom started to contribute to earnings from the second half.
 Post M&A activities of Foods Lec (former Yukijirushi Butsuryu) & TL Logicom
(former Tokyu Logistics)
 (Refer to case study in later slides)
 Same-day delivery service:
 Income & profit increased thanks to competitor withdrawal
 Expanded base for network logistics
 Moving service business:
 Explored marketing methods/incurred costs in organizational realignment
 Retreated from unprofitable free paper business
 (Refer to case study in later slides)
SBS Co., LTD. Financial Results Briefing for 2005
5
Consolidated Segment Information for December 2005 Term

Marketing business

Income increased, yet competition remains stiff in preparation for postal privatization.
Earnings are sluggish.
 Move of industry reorganization. This fiscal year would be the bottom in terms of financial
performance.
 PAM Co.,Ltd. joined SBS Group. Financial contribution from FY2006.

Human resources business

New operational bases aggressively launched during the first half made positive
contribution to sales
 Significant rise in recruitment cost suppressed earnings

Other businesses
 Environmental services business
 Cost for Yokohama Facility launch was a burden, resulting in red for the full year,
 Financial services business
 Re-acquisition of Omiya Center Building. Built qualifications in real estate liquidation
techniques.
SBS Co., LTD. Financial Results Briefing for 2005
6
Consolidated Balance Sheet for December 2005 Term
(Unit: Million Yen)
Dec. 2004
Dec. 2005
Change
14,403
23,195
+8,792
Fixed assets
8,375
56,218
+47,843
(Property, plant and equipment)
3,875
43,040
+39,165
(Investment securities)
2,902
8,990
+6,088
(Other fixed assets)
1,598
4,188
+2,590
22,778
79,403
+56,625
Current liabilities
8,216
12,491
+ 4,275
Interest-bearing debt
4,754
30,310
+ 25,556

5,000
+ 5,000
541
17,919
+ 19,864
48
7,468
+ 7,420
546
1,829
+ 1,283
8,721
11,854
+ 3,133
22,778
79,403
+ 56,625
Current assets
Total assets
Alpine bond (CB)
Fixed liabilities
(goodwill on consolidation)
Minority interests
Total shareholders’ equity
Total liabilities and shareholders’ equity
SBS Co., LTD. Financial Results Briefing for 2005
7
Consolidated Cashflow Statement for December 2005 Term
(Unit: Million Yen)
Dec. 2004
Dec. 2005
Change
Cashflow from operating activities
341
952
+611
Cashflow from investing activities
(7,523)
(17,869)
(10,346)
Cashflow from financing activities
11,081
18,572
+7,491
Increase/decrease in cash and cash equivalent
3,898
1,615
(2,283)
Cash and cash equivalents at beginning of year
1,487
5,385
+3,898
Cash and cash equivalents at end of year
5,385
7,000
+1,615
 CF from operating activities:
Increase in profits due to group expansion. Increase in
depreciation expense
 CF from Investing/financing activities： Acquisition of TL Logicom. Funds procured by
arranging a loan for the acquisition.
SBS Co., LTD. Financial Results Briefing for 2005
8
Consolidated Performance Forecast for December 2006 Term
(Unit: Million Yen)
Results for Dec. 2005
Forecast for Dec. 2006
Percentage
(%)
Sales
Percentage
(%)
Change
89,319
100.0
125,000
100.0
+39.9%
Operating profit
1,506
1.7
3,000
2.4
+99.2%
Ordinary profit
2,125
2.4
4,400
3.5
+107.1%
Net income
1,197
1.3
2,700
2.2
+125.6%
 Full-year contributions will be made by TL Logicom, Zentsu, etc.
 Focus on 3PL/Joint-distribution business (rollout of LAOX project)
 Integration of headquarters function (April). Pursuit of existing M&A synergy
 Seek further business expansion
SBS Co., LTD. Financial Results Briefing for 2005
9
Consolidated Earnings Forecast by Segment for December 2006 Term
Logistics
business
Marketing
business
Human
resources
business
Other
businesses
Corporate
Consolidated
and/or
base
Elimination
Results for Dec.
2005
Sales
Operating profit
(Unit: Million Yen)
73,896
9,469
5,074
1,497
(617)
89,319
1,153
(84)
262
272
(97)
1,506
Forecast for Dec.
2006
(Unit: Million Yen)
Sales
109,400
10,500
5,360
1,640
(1,900)
125,000
(Change)
+48.0%
+10.9%
+5.6%
+ 9.6%

+39.9%
2,400
190
280
250
(120)
3,000
+108.2%

+6.9％
(8.1%)

+99.2%
Operating profit
(Change)
 Logistics business: Focus on growth of 3PL business
 Marketing business: Industry trend will be set this year ahead of postal service privatization
Expectation of business opportunities for SBS is high.
 Human resources business: Strong demands for general assistance work/work in warehouses,
but impact of staff shortage is a concern. Earnings improved at new
operational bases from FY2005.
SBS Co., LTD. Financial Results Briefing for 2005 10
II. Post-M&A Activities and Business Strategies
SBS Co., LTD. Financial Results Briefing for 2005
11
Recognizing business environment
Changes in
business environment

Privatization of
postal services

Sophisticated
demands from
Clients


Industry trend
toward oligopoly
Challenges


Escalating fuel
cost


Rise in labor
cost
Establish
competitive
advantage by
strengthening
comprehensive
capability of SBS
group
Much closer
relationship-building
with customers
Secure earnings by
building more
effective business
model
Measures (strategies)


Expansion in size and business
offerings
1)
Integrated business expansion
strategy of M&A + internal
growth
2)
Enhancing business portfolio
Enhance corporate strength
（Examples in Case Studies）
1)
Strengthen sales capability
2)
Pursue synergy of SBS group
3)
Strengthen capability to
respond to clients’ needs
SBS Co., LTD. Financial Results Briefing for 2005
12
Integrated Business Expansion Strategy of M&A + Internal Growth
1) Execution of strategic
and sound M&A
 Selecting M&A targets in alignment of our
aim of being a business infrastructure
provider
 Build track records in turn-around
businesses
2) Swift integration of newly
acquired companies
(Business co-ordination
/Group-wide network)
 Enhance Corporate Strength
 Strengthen sales capability
 Revise incentives
 Reform corporate culture
 Share success experiences via post-M&A
support to group companies
 Pursuit of synergy effects
3) Efficient and effective
use of assets
(Group-wide)
 Build advanced logistics facilities by
providing know-how in logistics system
design/development
 Review/Assess effective use of real estate
 Liquidation
 Logistics REIT
 Know-how for efficient use of assets
(One of our core competency)
M&A
+
Internal Growth
SBS Co., LTD. Financial Results Briefing for 2005
13
Strengthening Business Portfolio
Provide comprehensive service catering to outsourcing needs of
businesses – as a business infrastructure provider
Realize cost competitiveness and capability to respond to
sophisticated needs
Current three pillars
Human resources
business
Marketing business
Market research
Sales promotion
Online mail order business, etc.
Logistics business
Temporary staffing
service
Staff subcontracting
service
Same-day delivery/nationwide
delivery
Food distribution/Vehicle
transportation
Overseas distribution/moving
service business
Expand current business segments from 3 pillars to 6
Financial services
business
Establish leasing
business
Securitization/liquidat
ion of real estate
Others
Business areas to drive growth in
the future
Information service
business
Environmental services
business
Recent efforts
Logistics business：
Acquired Zentsu (Sales: 10 billion
yen), which is highly regarded for
its fresh foods storing/processing
skills and home-delivery service
(deal closing on January 5)
Financial services business：
In 2005, acquired Carlyle-held
interest in real estate which had
been acquired jointly by our AMAX financial subsidiary and
Carlyle in 2004.
Marketing business：
Took 20% stake in PAM, which
engages in advertisement
planning and production (mainly
brochures for financial products)
and later made it a wholly-owned
subsidiary through a stock swap.
Collaboration with
logistics business
Collection of large
refuse from households
Strengthening industrial
waste disposal
business
Warehouse management
system （WMS)
Medical analysis system
solution
Logistics system
SBS Co., LTD. Financial Results Briefing for 2005
14
Case Study 1: Efforts in Foods Lec ①
At the time of acquisition by SBS

Foods Lec sales were mainly generated through transportation service, work in
warehouses, and auto-leasing business contracted from Snow Brand Group and its
affiliates. (including former Snow Brand Group companies and its affiliates)
(Approx. 70% of the total sales)

Sales environment has been tough.

Vehicle finance lease to partner transportation companies is a unique business area.
Challenges

Maintain quality level, expand into broader range of refrigerated/general food area and
secure earning base

Drive deployment of consolidated distribution business (3PL) leveraging the synergy of
SBS group

Expand auto-leasing business to the entire group
SBS Co., LTD. Financial Results Briefing for 2005
15
Case Study 1: Efforts in Foods Lec ②
Efforts and specific results
 New customer cultivation
 Contracted the entire logistics business from Sweet Garden and created a business
division.
 Strengthen Consolidated distribution business
 Strengthen consolidated inland distribution business leveraged on the Sweet Garden
case
 Cooperate/coordinate with Zentsu in business deployments within the Kanto region
 Leasing business division rollout
 Expand service provision by the entire group from the current scope of service provision
to partner companies.
 Study growth strategy towards specializing in finance lease business for trucks
 Staff and system enhancement
 Planned investment amount for 2006: 2.4 billion yen
 Improvement of vehicle dispatching/hiring control and efficiency in wide-area
transportation
 Concentrated vehicle dispatch control centers for wide-area transportation in the Chubu
Branch Office, and improved loading and capacity operating rates.
SBS Co., LTD. Financial Results Briefing for 2005
16
Case Study 1: Efforts in Foods Lec ③
Performance Trend
Unconsolidated (Unit: Million yen)
Sales
Total
Consolidated
distribution
business
H15
H16
(Results for 9
months）
H17
H18 Plan
FY 2002
FY 2003
FY 2004
FY 2005
FY 2006
38,054
36,582
28,029
37,728
39,370
380
552
269
489
425
1,166
1,547
1,735
Operating
profit
232
286
160
Sales
952
1,937
2,600
6
14
50
Operating
profit
Sales
Leasing
H14
Operating
profit
 Refrigerated logistics business grew steadily, focused on consolidated distribution business
 Improving logistics profit rate is a challenge.
 Impact of accounting standard change in leasing business
SBS Co., LTD. Financial Results Briefing for 2005
17
Case Study 2: Efforts in TL Logicom ①
At the time of acquisition by SBS


Performance of logistics business was stable.
Larger profit contribution provided from real estate leasing business.


Existing customer base has been stable. New customer base remained small.
Close to 20 percent of sales from Tokyu Group companies

Sotetsu Transportation, Tokyu Unyu, and Tokyo Tsuun have merged over the course of
the past two years. (Integration process, both in terms of HR and business operations,
of the three former companies is ongoing)
Challenges


Cultivation of new customers
Increase profitability of logistics business


Effective use of real estate
Faster information sharing among sales offices and further strengthening of operational
coordination.

Organizational Reformation
SBS Co., LTD. Financial Results Briefing for 2005
18
Case Study 2: Efforts in TL Logicom ②
Efforts and specific results
 Strengthening sales capability in logistics business
 Promotion of new customer cultivation by efforts such as establishment of Sales Development
Division.
Example： SBS group won a contract to handle the entire logistics operation for LAOX.
(Refer to the next slide for details)
 Group-wide sales efforts based on coordination among SBS group companies, led by TL Logicom.
(A-Max：real estate asset management, AT&C：warehouse management system)
 Drive further business deployments of 3PL service, taking the LAOX deal as a model case
 Established a real estate division in order to promote effective use of real estate
 Concentrated real estate-related businesses. Promotion of more effective use of assets and
efficient business operations.
 Refinement of operation management
 Execute efficient vehicle dispatch control by enhancing information sharing and operational
coordination among branch offices.
 Staff enhancement
 Reformation of management/human resources
 Concentrate into a 3-business-division system from 8 divisions. Quicker management decisions
 Reform in business management and promotion of junior staff
SBS Co., LTD. Financial Results Briefing for 2005
19
Case Study 2: Efforts in TL Logicom ③
Business tie-up with LAOX
 SBS group coordination led by TL Logicom. Provision of a total solution.
 Better correspondence to more detailed client needs through enhanced sales capability.
Group effort to pursue synergy, utilizing group resources.
Laox’s business management strategy
SBS’s sales approach
 Switch over to “Lifestyle providing business” capable of responding
to changes in the needs of consumers and society.
 Capture unyielding support from customers by building “a business
model for small trade area” in close relationship with local
communities.
 Formed a project team as SBS group (Studied solutions to
respond to various customer needs in addition to efforts to
cut costs and improve efficiency)
 Proposed a one-stop solution responding to customer
needs
Needs of logistics/supply chain
management
 Realize improved operational efficiency and cost reductions
 Service enhancement including same-day delivery
 Improvement in logistics by bringing down logistics
costs
 Needs for supply chain management
 Remove unprofitable products by thorough item-by-item
control
 Enhance fresh atmosphere of sales floors by placing
more popular products.
 Higher added value
 Renewal of E-commerce system and strengthening
home-delivery function
 Strengthen home appliance handling service at the time
of moving
 Handling of home appliance disposal
Details of solution (Contract signed on December 20)
 Won a contract to handle entire logistics center operation and
distribution to stores
 TL Logicom: Center operation. Distribution to stores
 AT&C: Logistics system design
 Set up a joint venture: home appliance installation service in
conjunction with moving service
 Converge LAOX home-appliance sales channel and
SBS group moving service channels such as Duck
 Packaged sales of moving service and home appliance
installation service
 Recycling business of home appliance disposal
 LAOX and SBS’s environmental service division (Sogo
Butsuryu System) are jointly working on the recycling
business for home appliances disposed of by LAOX
customers
SBS Co., LTD. Financial Results Briefing for 2005
20
Case Study 2: Efforts in TL Logicom ④
Performance Trend
Consolidated
(Unit: Million yen)
Fiscal Year
Sales
H15/March
H16/March
H17/March
H17/Dec
H18/Dec
2002
2003
2004
2005
2006
(For 9 months）
(Plan)
36,656
34,478
33,203
25,810
35,380
Operating profit
1,280
897
1,176
1,180
1,605
Sales from real
estate-related
businesses
1,147
1,106
1,080
723
1,090
718
595
645
373
660
Operating profit
 Aim for increased income and profit for FY 2006.
 Operating profit ratio expected to improve 1 point from FY2004, the most recent financial
results for a full 12 months.
SBS Co., LTD. Financial Results Briefing for 2005
21
Case Study 3: Summary of Efforts in Moving Service Business
 Duck Moving Group joined SBS Group in January 2005 and Sakura Transport Joined it in March 2005
 Entered moving service (for individual customers) , first B2C business for SBS group.
At the time of acquisition by SBS
Challenges
 Both Duck and Sakura Transportation have
been struggling in its core moving business.
 Sakura Transport’s free paper/flyer distribution
business has been incurring losses.
 Concentrate on the core business. Increase
profitability.
 Strengthening marketing capability
(Making the company name well known to
customers is the important issue. )
Efforts and specific results
 Establish “new Duck”
(Duck Moving Group and Sakura Transportation integrated their businesses in July 2005)
 Promote efficiency in business management by integration of B2C moving services
 Withdraw from unprofitable free paper business
 Focus on the core business of moving service
 Change in marketing policy
 Switch to marketing via TV commercials instead of via flyers
 Promote Duck brand recognition through TV commercials which converged with the Internet.
SBS Co., LTD. Financial Results Briefing for 2005
22
III. Briefing on Balance Sheet
SBS Co., LTD. Financial Results Briefing for 2005
23
Financial Standings: Balance Sheet Summary
 Actual net debt/equity ratio is lower than 1.00



Current consolidated balance sheet
 Appraisal gains in real estate/investment securities （*）
 Goodwill on consolidation (negative goodwill)
Net debt/equity ratio 2.01
Equity ratio
17%



Cash and cash equivalents
7.7 billion yen
Current assets
15.5 billion yen
Fixed assets
56.2 billion yen
(Real estate)*
(Investment
securities)*
Current liabilities
12.5 billion yen
Interest-bearing
debt
30.3 billion yen
CB 5 billion yen
Fixed liabilities
10.4 billion yen
Goodwill on consolidation
7.5 billion yen
Minority interests 1.8 billion yen
Actual consolidated balance sheet (image)
 Consideration (1) Depreciation of goodwill on
consolidation (negative goodwill)
 Consideration (2) Conversion of Alpine bond (CB)
Net debt/equity ratio (actual)
0.86
Equity ratio (actual)
33%
Cash and cash equivalents
7.7 billion yen
Current assets
15.5 billion yen
Fixed assets 56.2
billion yen
(Real estate)*
(Investment
securities)*
Interest-bearing
debt
30.3 billion yen
Fixed liabilities 10.4
billion yen
CB 5 billion yen
Goodwill on consolidation
7.5 billion yen
Minority interests 1.8 billion yen
Shareholders’ equity
11.9 billion yen
Shareholders’ equity
11.9 billion yen
Total assets 79.4 billion yen
Net asset
13.7 billion yen
Current liabilities
12.5 billion yen
Total assets
Actual net asset
79.4 billion yen
26.2 billion yen
SBS Co., LTD. Financial Results Briefing for 2005
24
Balance Sheet: Assets owned by SBS Group
Property
name
Shibuya
Minamiguchi
Building
Minami
Shinjuku SK
Building
Exterior view
(Major commercial properties for lease)
Property outline
Location
Book value

Shibuya, Shibuya-ku, Tokyo
Completion
Size
January 2000 (January, Heisei 12)
Above ground: 9 floors Below ground: 1 floor
Steel-framed/steel-framed, steel-reinforced concrete
Structure
structure
Total floor area 8,819.08m2 (2,667.77 tsubo)


Effective area
6,367.95m2 (1,926.30 tsubo)
Land area
1,361.30m2 (411.79 tsubo)
Location
Sendagaya, Shibuya-ku, Tokyo
Completion
Size
1997 (July, Heisei 7)
Above ground: 8 floors
Structure
steel-framed, steel-reinforced concrete structure

Below ground: 1 floor

Total floor area 7,225.96m2 (2,185.85 tsubo)
Iidabashi
Building
Effective area
5,474.56m2 (1,656.05 tsubo)
Land area
1,275.59m2 (385.87 tsubo)
Location
Koraku, Bunkyo-ku, Tokyo
Completion
June, 1982 (June, Showa 57)
Size
Above ground: 6 floors
Structure
Steel-reinforced concrete structure


Below ground: 1 floor
Total floor area 4,224.27m2 (1,277.84 tsubo)
Effective area
2,822.57m2 (853.83 tsubo)
Land area
828.11m2 (250.11 tsubo)
Book value:
1,345 million yen
(December 2005)
Market value:
2,685 million yen
(as of June 2005)
Percentage held:
Land
64.23%
Building 62.82%
Book value:
698 million yen
(December 2005)
Market value:
2,930 million yen
(as of June 2005)
Percentage held:
Land
58.68%
Building 58.70%
Book value: 499
million yen
(December 2005)
 Market value 1,440
million yen
(as of June 2005)
 Percentage held:
Land
100%
Building 100%
SBS Co., LTD. Financial Results Briefing for 2005
25
Balance Sheet: Assets owned by SBS Group
Property name
Yokohama
Kanazawa
logistics center
Fukagawa
distribution
center
Higashiougijima
International
Logistics Center
Exterior view
(Major logistic facilities)
Property outline
Book value
Location
Kanazawa-ku, Yokohama city, Kanagawa prefecture
Completion
October, 1983 (Additions: October, Showa 58, Heisei 1& 4)
Size
Above ground: 5 floors
Structure
Steel-reinforced concrete structure
Total floor area
14,803.75m2 (tsubo)
Effective area
14,803.75m2 (4,478.13 tsubo)
Land area
18,112.38m2 (5,478.99 tsubo)
Location
Shiobara, Koto-ku, Tokyo
Completion
September, 1998 (September, Heisei 10)
Size
Above ground: 5 floors
Structure
Steel-framed structure
Total floor area
4,223.60m2 (1,277.64 tsubo)
Effective area
4,223.60m2 (1,277.64 tsubo)
Land area
1,767.27m2 (534.60 tsubo)
Location
Kawasaki-ku, Kawasaki-city, Kanagawa prefecture
Completion
Size
Structure

Book value:
8 million yen
(December 2005)
 Market value:
2,215 million yen
(as of June 2005)

Book value:
415million yen
(December 2005)
 Market value:
1,110 million yen
(as of June 2005)

Book value:
561 million yen
September 1987 (September, Showa 62, Addition: Heisei 8)
(December 2005)
Above ground: 6 floors
 Market value: 886
million yen
Steel-framed structure, partially steel-reinforced concrete
(as of June 2005)
structure
Total floor area
6,367.32m2 (1,926.12 tsubo)
Effective area
6,367.32m2 (1,926.12 tsubo)
Land area
5,000.00m2 (1,512.50 tsubo)
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26
Balance Sheet: Assets Held by SBS Group (Investment Securities)
 Investment
securities
(This summary only relates to listed stocks)
 Listed stocks: 46 issues

Breakdown : Financial institutions
Client companies
Partner companies, etc.
9 issues
27 issues
10 issues
 Book value (as of December 31, 2005) : Approx. 3.2 billion yen
 Market value (as of December 31, 2005) : Approx. 6.1 billion yen
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IV. Future Efforts
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28
Efforts in FY 2006
■ Strategic Priorities
 Promote 3PL business
* Efforts by TL:
 Execute LAOX project
 Receive continuous orders for ongoing projects
* Efforts by FL:
 Promote joint distribution business
 Promote cooperation with Zentsu
 Drive facility development leveraged on real estate
liquidation technique
* Effective use of assets owned by TL
 Develop logistics facility in Yokohama area
 Expand warehouse in the scope of our mid-term plan
(Approx. 50,000 tsubo now  Approx. 100,000 tsubo)*1
* SBS’s efforts
 Real estate development in view of mid-term strategy
for the entire SBS group
(Approximately 30,000 – 50,000 tsubo planned) *1
 More efficient business management through
integration of headquarters function
Improvement in unprofitable businesses
 Acting on issues regarding environmental concern
Targets to be achieved in this term
☆ Consolidated sales:
125 billion yen
☆ Consolidated ordinary profit:
4.4 billion yen
Note
*1 ： 1 Tsubo = Approx. 3.3㎡
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29
Future Efforts: Image of Strategy
～ Efficient Service Model Leveraged on SBS’s Comprehensive Capabilities ～
 Realize high added-value for our customers via 3PL solution driven by SBS group’s collective strength
SBS Group
General distribution/
consolidated
distribution
TL Logicom SBS Logitem
Foods Lec Zentsu
Distribution support
service in warehouse/
general assistance work
(Temporary staff dispatching service)
SBS Staff
WMS development
(Warehouse management
system)
AT&C
Acquisition/development of
logistics sites
(Use of real estate
liquidation scheme)
A-MAX
Build
closer Client
Relationships
based on trust
Comprehensive 3PL solution based on coordination
among SBS group member companies
Provide high value-added 3PL
service for customers
 Improve efficiency in
logistics operation
 Lower costs
Optimized logistics facilities/warehouses (Use facilities within/outside SBS group effectively)
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30
Summary of SBS Group
 As of March 2006
Mailing service business
SBS Postway Co., Ltd.
Forward, Inc.
Mailing service
Environmental services business
Recycling
Sogo Butsuryu System Co., Ltd.
Transportation
Human resources outsourcing business
SBS Staff Co., Ltd.
Marketing planning business
Marketing Partner Co., Ltd.
PAM Co., Ltd.
System integration service
Staff
dispatching
General assistance work
Marketing planning/proposal offering
System development business
Clients
Real estate liquidation service
Financial services business
A-MAX Co., Ltd.
CS-Net Co., Ltd.
AT&C Co., Ltd.
Big Bang Co., Ltd.
Logistics consulting
Logistics consulting business
Fuji Sogo Logistics Research Center Co., Ltd.
Same-day delivery/general logistics service
Refrigerated logistics service
Logistics/same-day delivery/3PL/moving service
SBS Logitem Co., Ltd./ Duck Co., Ltd.
Foods Lec Co., Ltd. / Transworld Co., Ltd.
TL Logicom Co., Ltd. (Former business name: Tokyu Logistics)
Nihon Kamotsu Kyuso Co., Ltd. / Izu Express Trucking, Inc.
Zentsu Corporation (Joined SBS group in January 2006)
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31
Inquires Regarding Investor Relations
Please visit our web site for IR information and inquires regarding IR issues.
IR information page
TOP page
Contact Information
 Division: Corporate Planning
Phone: 03-5655-6110
 FAX：
03-5655-6180
 E-mail： [email protected]
Cautionary Statement on this Forecast
The purpose of this document is to provide information to investors. It is not meant to solicit sales. Descriptions
related to future prospects in this document are based on our targets and forecasts and do not provide any assurance
or guarantee. Please use this document with the full understanding that future earnings of SBS may differ from our
present forecasts. While our descriptions on performance are prepared based on various data that are deemed reliable,
SBS does not guarantee the accuracy or safeness of such. This document is provided on the basis that investors may
use this document for their own purposes, upon their own judgment and responsibility, thus SBS, under any
circumstances, does not accept any responsibility for the results of such use.
SBS Co., LTD. Financial Results Briefing for 2005
32

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