YONDOSHI HOLDINGS INC.
July 10, 2019(Securities Code: 8008, First Section, Tokyo Stock Exchange)

Summary of the Consolidated Financial Reportfor the First Quarter of Fiscal 2019 (Ending February 29, 2020)
・Net sales was on a par with the same period of the previous fiscal year, but
operating income rose for the first time in three fiscal periods.

・Ordinary income and net income declined due to the lack of equity in earningsof affiliates in the subject fiscal year, but results were mostly in line with plan.

・The Jewelry Business posted a revenue decline but an earnings gain, due
mainly to improved store earning capacity from a scrap-and-build program,along with an increase in the bridal jewelry business.

・The Apparel Business recorded gains in both revenue and earnings owing toefforts to strengthen measures with major apparel manufacturing clients,
along with expanded openings of new locations for the mainstay everyday
fashion brand PALETTE.

・ Forecasts for the second quarter cumulative and full-year periods of fiscal
2019 are unchanged from the initial plan. We anticipate increases in net salesand operating income for the full-year period.
YONDOSHI HOLDINGS INC. (“YONDOSHI HOLDINGS” or “the Company”;
Headquarters: Shinagawa-ku, Tokyo; Chairman and Representative Director, CEO:Saishi Kimura) announced today its business results for the first quarter period of fiscal
2019 (March 1, 2019 to May 31, 2019), the fiscal year ending February 29, 2020. The
summary of these results is as follows.
1. Consolidated Business Results
Fiscal 2018 1Q

Net Sales
Operating Income
Ordinary Income
Profit Attributable toOwners of Parent(Millions of yen, %)Fiscal 2019 1Q
YoY

11,216
1,196
1,512

11,143
1,243
1,341(0.6)％＋3.9％(11.4)％

1,043805(22.9)％

1. Net income per share for the period was ¥35.35 (¥40.66 for the previous fiscal year).
2. The average number of issued shares for the period (consolidated basis) was 22,773,543 shares.
3. Operating income before the amortization of goodwill was ¥1,367 million (¥1,321 million in theprevious fiscal year).
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: +81-3-5719-3274; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

In the retail industry, despite signs of an improvement in personal consumption, businessconditions remained difficult, with continued budget-consciousness arising fromuncertainty about the future. Under these circumstances, during fiscal 2019, the secondyear of the fifth medium-term management plan, the YONDOSHI HOLDINGS Group ispursuing priority measures in each business, with the aim of enhancing its enterprise value.
As a result, net sales for the subject first quarter period amounted to ¥11,143 million(down 0.6% from the same period of the previous fiscal year), with operating income of¥1,243 million (up 3.9%). Because of the lack of equity in earnings of affiliates in thesubject fiscal year, ordinary income declined to ¥1,341 million (down 11.4%) and profit
attributable to owners of parent to ¥805 million (down 22.9%), but were mostly in linewith plan.
Operating Results by Business Segment
Jewelry Business
Net Sales:
Operating Income:¥6,420 million¥1,031 million(down 3.8% YoY)
(up 1.9% YoY)

The F.D.C. Products Group implemented various successful measures, with an increasein bridal jewelry. Store earning capacity also increased as a result of the ongoing scrapand-build program.
Apparel Business
Net Sales:
Operating Income:¥4,723 million¥284 million(up 4.0% YoY)
(up 27.4% YoY)

The AS’TY Group achieved positive results from successful efforts to strengthen
measures with major clients, utilizing its product proposal capabilities and overseas
production framework. Retailer age Co., Ltd. also achieved gains from expanded
openings of new locations for its mainstay everyday fashion brand PALETTE, and efforts
to strengthen sales promotion measures.

2. Forecasts for Second Quarter Cumulative and Full Year Periods of Fiscal 2019
Second Quarter Cumulative(Millions of yen, %)Fiscal 2018
2Q Cumulative(Actual)Net Sales
Operating Income
Ordinary Income
Profit Attributable toOwners of Parent

Fiscal 2019
2Q Cumulative(Forecast)

YoY

22,094
1,994
2,578

22,4002,100
2,250+1.4％+5.3％(12.7)％

1,817

1,500(17.5)％

1. Forecast net income per share for the FY 2019 2Q cumulative period: ¥65.87
2. Average number of issued shares (consolidated basis): 22,773,543 shares

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: +81-3-5719-3274; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

Full Year

(Millions of yen, %)Fiscal 2018
(Actual)Net Sales
Operating Income

47,118
4,984
6,804

Fiscal 2019
(Forecast)

47,300
5,100
5,400

YoY

+0.4％
+2.3％
(20.6)％

Ordinary Income
Profit attributable to2,440
3,400+39.3％
owners of parent
1. Forecast net income per share for FY 2019: ¥149.30
2. Average number of issued shares during FY 2019 (consolidated basis): 22,773,543 shares

Consolidated results forecasts for the second quarter cumulative and full year periods offiscal 2019 are unchanged from those announced on April 10, 2019.
Note: Forecasts are based on available information as of the disclosure date for this material.
Actual results may vary from forecast figures as a result of economic conditions or avariety of other factors.

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: +81-3-5719-3274; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp