YONDOSHI HOLDINGS INC.
October 7, 2019(Securities Code: 8008, First Section, Tokyo Stock Exchange)

Summary of the Consolidated Financial Reportfor the First Half of Fiscal 2019 (Ending February 29, 2020)
・ While net sales were on a par with levels recorded in the same period of theprevious fiscal year, operating income rose in the first half of the fiscal year
ending February 29, 2020. Despite a drop in both ordinary income and net
income due to the lack of equity in earnings of affiliates in the subject fiscalyear, operating income and ordinary income results progressed extremelysmoothly and exceeded plans.
・ The Jewelry Business posted a revenue decline but an earnings gain, due
mainly to efforts aimed at scaling back unprofitable stores along with arecovery in bridal jewelry. The Apparel Business was also robust recording
gains in both revenue and earnings.
・ Business results for the full fiscal year are progressing in line with plans.
Revenue and earnings are projected to increase with upswings in operating
income and net income.
・ Plans are in place to cancel 5,000,000 shares of treasury stock on October 15,
2019.
・ YONDOSHI HOLDINGS intends to pay a cash dividend of ¥80 per share forthe fiscal year ending February 29, 2020, up ¥5 per share compared with theprevious fiscal year, for a ninth consecutive fiscal year of dividend growth.
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 half period of fiscal
2019 (March 1, 2019 to August 31, 2019), the fiscal year ending February 29, 2020. A
summary of these results is as follows.
1. Consolidated Business Results
Fiscal 2018 1H

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

22,094
1,994
2,578

21,9252,195
2,370(0.8)％＋10.1％(8.0)％

1,817

1,484(18.3)％

1. Net income per share for the period was ¥66.10 (¥70.78 for the same period of the previous fiscalyear).
2. The average number of issued shares for the period (consolidated basis) was 22,455,182 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

While personal consumption has followed a modest recovery path, business conditionsin the retail sector have remained difficult with consumers becoming increasingly
conscious of their budgets due to uncertainty about the future. Under thesecircumstances, the YONDOSHI HOLDINGS Group has continued to address key issues
in each business, with the aim of enhancing its enterprise value, during fiscal 2019, thesecond year of the fifth medium-term management plan.
As a result, net sales for the first half of the fiscal year under review amounted to¥21,925 million (down 0.8% from the same period of the previous fiscal year). From a
profit perspective, operating income came to ¥2,195 million (up 10.1%). Because of thelack of equity in earnings of affiliates in the subject fiscal year, ordinary income
decreased to ¥2,370 million (down 8.0%) and profit attributable to owners of parent to¥1,484 million (down 18.3%)
Operating Results by Business Segment
Jewelry Business
Net Sales:
Operating Income:¥12,671 million¥1,815 million(down 3.3% YoY)
(up 4.8% YoY)

In addition to the success of various measures, the F.D.C. Products Group experienced
robust trends in its bridal jewelry business. Moreover, store earning capacity also
increased on the back of efforts to scale back unprofitable locations.
Apparel Business
Net Sales:
Operating Income:¥9,254 million¥490 million(up 3.0% YoY)
(up 39.6% YoY)

In the Apparel Business, the AS’TY Group substantially improved its earning capacity
through 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 proactive efforts to scale back logistics expenses.
2. Forecasts for the Full Fiscal 2019 Period(Millions of yen, %)Fiscal 2018(Actual)

Net Sales
Operating Income
Ordinary Income
Profit Attributable toOwners of Parent

Fiscal 2019(Forecast)

YoY

47,1184,984
6,804

47,300
5,100
5,400

+0.4％
+2.3％
(20.6)％

2,440

3,400

+39.3％

1. Forecast net income per share for FY2019: ¥151.41
2. Average number of issued shares (consolidated basis): 22,455,182 shares

Consolidated results forecasts for the full fiscal 2019 period are unchanged from thoseannounced on April 10, 2019.
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

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