YONDOSHI HOLDINGS INC.
January 9, 2024

(Securities Code: 8008, Prime Market, Tokyo Stock Exchange)

Summary of the Consolidated Financial Report for the Third Quarter
Cumulative Period of Fiscal 2023 (Ending February 29, 2024)
・ Profitability improving, with revenue and earnings gains for a second
consecutive period.
・ Jewelry Business: Revenue decline but increase in earnings on continued
business restructuring measures.
・ Apparel Business: Gains in both revenue and earnings on expanded sales for theeveryday fashion brand PALETTE from new store openings, and initiatives byThe AS’TY Group to strengthen measures with major business partners.
・ Full-year results forecast of increase in revenue and earnings for a second
consecutive year, in line with initial plan.
・ The Company continues to pay a stable dividend with a target DOE of 4% orhigher. The forecast dividend for FY2/24 is 83 yen per share, comprising interimand year-end dividends of 41.50 yen.
YONDOSHI HOLDINGS INC. (“YONDOSHI HOLDINGS” or “the Company”;
Headquarters: Shinagawa-ku, Tokyo; President and Representative Director: Hidetoshi
Masuda) today announced its business results for the third quarter cumulative period offiscal 2023 (March 1, 2023, to November 30, 2023), the fiscal year ending February 29,2024. A summary is as follows.
1. Consolidated Business Results

Net Sales
Operating Income(Millions of yen, %)FY2/23
3Q Cumulative
28,402

FY2/24
3Q Cumulative
28,697

1,044

1,337

YoY
+1.0%
+28.0%

Ordinary Income
1,328
1,663
+25.2%
Profit Attributable to739
921+24.5%
Owners of Parent
1. Net income per share: ¥42.96 (¥34.51 in the corresponding period of the previous fiscal year)
2. Average number of issued shares (consolidated basis): 21,443,218 shares
3. Operating income before amortization of goodwill: ¥1,709 million (¥1,416 million in the corresponding
period of the previous fiscal year).

In the retail sector, sales of high-ticket items remained firm, and demand from inboundtourism continued to rise. However, aspects for concern remained that could hinder fullfledged recovery in the consumer mindset, including sluggish growth in real wages due
to rising prices.
Head Office:Establishment:
Paid-in Capital:
Business Activities:URL:Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/YONDOSHI HOLDINGS INC. Corporate Planning Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

As a result, net sales for the subject third quarter cumulative period amounted to¥28,697 million (up 1.0% from the same period of the previous fiscal year), withoperating income of ¥1,337 million (up 28.0%), ordinary income of ¥1,663 million (up25.2%), and profit attributable to owners of parent to ¥921 million (up 24.5%).
Jewelry Business
Net Sales:
Operating Income:¥11,687 million¥601 million(down 6.3% YoY)
(up 12.0% YoY)

Jewelry business company The F.D.C. Products Group continued to make steady progresswith business restructuring. Although revenue declined due to the consolidation of bridal
jewelry specialty stores, the profit margin improved. For fashion jewelry, sales at existingstores rose from the previous fiscal year on efforts to broaden the base of female
customers, expansion in e-commerce, and new customer development. The e-commercechannel especially continued to perform strongly, registering double-digit growth.
In terms of store openings and closings, 4 stores were opened, 12 stores were closed,
and 7 stores were renovated, for a total of 143 stores at the end of the subject period.
Apparel Business
Net Sales:
Operating Income:¥17, 010 million¥1,078 million(up 6.8% YoY)
(up 32.0% YoY)

Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, recorded a yearon-year increase in sales at existing stores, which along with a boost from opening newstores, resulting in gains for both revenue and earnings. In terms of store openings andclosings, 10 stores were opened, and 3 stores were closed, for a total of 100 stores at theend of the subject period.
Apparel manufacturing and wholesaler The AS’TY Group expanded measures withmajor business partners against the backdrop of the overseas production bases that are its
strength, with growth in both revenue and earnings.

Head Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/
YONDOSHI HOLDINGS INC. Corporate Planning Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

2. Full-Year Results Forecast for Fiscal 2023 (FY2/24)(Millions of yen, %)FY2/23(Actual)
Net Sales39,508

FY2/24(Forecast)
40,000Operating Income

1,979

2,100

YoY
+1.2%
+6.1%

Ordinary Income
2,342
2,500
Profit Attributable to
1,149
1,300
Owners of Parent
1. Forecast net income per share: 60.63 yen
2. Average number of issued shares (consolidated basis): 21,443,218 shares
3. Earnings per share (EPS) before goodwill amortization: 83.78 yen+6.7%+13.1%

Consolidated results forecasts for FY2/24 are unchanged from the figures announced onApril 14, 2023.
Note: The above forecasts have been prepared based on information available as of thedate of this document. Actual results may differ from forecasts due to various
factors, such as future economic conditions.
3. Cash Dividends for Fiscal 2023 (FY2/24)(Yen)
Annual Cash Dividend
FY2/23(Actual)FY2/24(Actual)FY2/24(Forecast)

1Q-End2Q-End3Q-EndPeriod-End

Total

―

41.50

―

41.50

83.00

―

41.50

―
41.50

83.00

YONDOSHI HOLDINGS Group recognizes that providing returns to shareholders is an
important management issue, and enhances shareholder returns by providing a stable andcontinuous cash dividend payment, along with flexible share buybacks. The Company
has also set a target DOE of 4% or higher as a key indicator of shareholder returns, andaims to reach a dividend payout of 100 yen per share in the future.
In accordance with this policy, for the fiscal year ending February 29, 2024,
YONDOSHI HOLDINGS plans to pay an interim and year-end cash dividend of 41.50
yen per share, for an annual cash dividend of 83 yen per share, representing a DOE of4.7%.
END

Head Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/YONDOSHI HOLDINGS INC. Corporate Planning Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp