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

Summary of the Consolidated Financial Reportfor Fiscal 2018 (Ended February 28, 2019)・ Revenue and earnings in fiscal 2018 declined compared with the previous
fiscal year due to a variety of factors. This included a delay in the recovery ofexisting store sales in the Jewelry Business.
・ YONDOSHI HOLDINGS posted a temporary tax expense stemming from thetransfer of a part of its shares held in equity-method affiliated Fuji Co., Ltd.
as a part of the Company’s business reorganization.
・ The Jewelry Business reported declines in both revenue and earnings. TheApparel Business recorded gains in both revenue and earnings on the back ofrobust trends.
・ YONDOSHI HOLDINGS is targeting increases in revenue and earnings on aconsolidated basis for fiscal 2019 (ending February 29, 2020).
・ The Company plans to pay an annual cash dividend of ¥75 per share, up ¥10per share for the fiscal year under review. This represents an eighthconsecutive fiscal year of dividend increase. Plans are also in place to again
declare an increase in the annual cash dividend to ¥80 per share, up ¥5 pershare for fiscal 2019.
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 fiscal 2018, the fiscal year fromMarch 1, 2018 to February 28, 2019. Brief details are presented as follows.
1. Consolidated Business Results
Fiscal 2017
Net Sales
Operating Income
Ordinary Income
Profit Attributable toOwners of Parent(Millions of yen, %)Fiscal 2018
YoY48,060
6,102
7,562

47,1184,984
6,804(2.0)％(18.3)％(10.0)％

5,293

2,440(53.9)％

1. Net income per share for the fiscal year under review was ¥96.03 (¥207.09 in the previous fiscal year).
2. The average number of issued shares for the fiscal year under review was 25,415,080 on a consolidatedbasis.
3. Operating income before the amortization of goodwill: FY 2018: ¥5,481 million FY 2017: ¥6,599
millionHead Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 millionBrand 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

Despite signs of an improvement in personal consumption, business conditions remained
difficult in the retail industry. In addition to persistent budget-consciousness arising fromuncertainty about the future, this largely reflected the impact of a succession of natural
disasters and other factors. Under these circumstances, during the fiscal year ended
February 2019, the first year of the fifth medium-term management plan, the YONDOSHIHOLDINGS Group worked diligently to enhance enterprise value while addressing
priority issues by business.
As a result, net sales for the fiscal year under review amounted to ¥47,118 million(down 2.0% YoY). From a profit perspective, operating income came to ¥4,984 million(down 18.3% YoY) and ordinary income was ¥6,804 million (down 10.0% YoY). Profit
attributable to owners of parent fell to ¥2,440 million (down 53.9% YoY), due mainly tothe recording of temporary tax expenses stemming from the transfer of shares of anaffiliated company.
Operating Results by Business Segment
Jewelry Business
Net Sales:
Operating Income:¥29,295 million¥4,465 million(down 5.4% YoY)
(down 18.4% YoY)

In the F.D.C. Products Group, which is largely responsible for the YONDOSHIHOLDINGS Group’s Jewelry Business, results were impacted by the time required tobring about a recovery in bridal jewelry. At the same time, sales fell below plans over theDecember Christmas peal period of demand. Meanwhile, signs of a positive turnaroundare beginning to emerge on the back of the Group’s vigorous efforts to promote a varietyof measures in the bridal jewelry business.
Apparel Business
Net Sales:
Operating Income:¥17,822 million¥603 million(up 4.3% YoY)
(up 6.5% YoY)

In the Apparel Business, the AS’TY Group achieved positive returns through its
successful efforts to strengthen measures with major clients utilizing its product proposal
capabilities and overseas production framework. Retailer age Co., Ltd. also achieved
revenue gains from expanded openings of new locations for its mainstay everyday fashion
brand PALETTE and measures aimed at strengthening sales promotions.
2. Consolidated Earnings Forecasts for Fiscal 2019
Fiscal 2018
(Actual)Net Sales
Operating Income
Ordinary Income
Profit Attributable toOwners of Parent(Millions of yen, %)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 (full fiscal year period) is ¥133.78.
2. The average number of issued shares for the fiscal year is 25,415,080 on a consolidated basis.
3. Forecast EPS before the amortization of goodwill after taking into account repurchase of theHead Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, Tokyo
May 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

Company’s own shares to the maximum amount identified in the fiscal year ending February 29, 2020is ¥174.10.

As a part of efforts to become a century-old company and brand, the YONDOSHIHOLDINGS Group recognizes the critical need to further increase the value of its
corporate 4°C brand.
YONDOSHI HOLDINGS has identified “Challenge and Change” as the key slogan
under its Fifth three-year “Challenge and Change” Medium-Term Management Plan,
which began from the fiscal year ended February 28, 2019. Guided by this plan, theYONDOSHI HOLDINGS Group will actively reinforce human resources in the mainstay
Jewelry Business and enhance the quality of management. In addition, to increasing thevalue of the 4°C brand, the YONDOSHI HOLDINGS Group will also look to develop
and nurture new business pillars that will help to secure renewed growth.
In the future, the YONDOSHI HOLDINGS Group will continue to cultivate humanresources, bolster product capabilities, and assess market trends. Every effort will also bemade to practice CSR-based management to establish a highly trusted corporate group,
while endeavoring to enhance corporate value by strengthening internal controls,
providing shareholder returns, and making medium- to long-term investments linked toearnings growth.
Taking each of these factors into consideration, net sales are projected to come in at¥47,300 million, operating income to total ¥5,100 million, ordinary income to come to¥5,400 million, and profit attributable to owners of parent to amount to ¥3,400 million ona consolidated basis in the fiscal year ending February 29, 2020.
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.

4. Cash Dividends(Yen)
1Q-EndActual for
Fiscal 2017
Actual for
Fiscal 2018
Forecast for
Fiscal 2019

Annual Cash Dividend
2Q-End3Q-EndPeriod-End

Total

―

32.50

―

32.50

65.00

―

37.50

―

37.50

75.00

―

40.00

―

40.00

80.00

YONDOSHI HOLDINGS intends to pay a period-end cash dividend of ¥37.50 per share.
As a result, the annual cash dividend, which includes the interim cash dividend, will be¥75.00 per share, an increase of ¥10.00 per share for the fiscal year ended February 28,2019. This represents an eighth consecutive fiscal year of dividend increase. Looking at
the next fiscal year, the Company plans to pay an interim and period-end cash dividendof ¥40.00 per share, respectively, for an annual cash dividend of ¥80.00 per share, anincrease of ¥5.00 per share, for fiscal 2019. Accordingly, we are aiming to increase theannual cash dividend for a ninth consecutive year in the fiscal year ending February 29,2020.
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