YONDOSHI HOLDINGS INC.
October 6, 2023

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

Summary of the Consolidated Financial Report for the Second
Quarter Cumulative Period of Fiscal 2023 (Ending February 29, 2024)
・ Consolidated results improved, with revenue and earnings gains for a second
consecutive period.
・ Jewelry Business: Revenue decline but increase in earnings following businessrestructuring 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 on steady
implementation of measures.
・ The Company continues to pay a stable dividend with a target DOE of 4% orhigher. The forecast dividend is 83 yen per share, comprising interim and yearend 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 second quarter cumulative periodof fiscal 2023 (March 1, 2023, to August 31, 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
2Q Cumulative
18,514

FY2/24
2Q Cumulative
19,110

645

1,069

YoY
+3.2%
+65.7%

Ordinary Income
822
1,284
+56.2%
Profit Attributable to513
696+35.7%
Owners of Parent
1. Net income per share: ¥32.49 (¥23.95 in the corresponding period of the previous fiscal year)
2. Average number of issued shares (consolidated basis): 21,443,216 shares
3. Operating income before amortization of goodwill: ¥1,317 million (¥893 million in the corresponding
period of the previous fiscal year).

In the retail sector, consumer spending showed signs of recovery, including continued
strong sales of high-ticket items, and an increase in demand from inbound tourism.
However, wage increases have not kept pace with the increase in commodity prices, andsome concerns have been raised about a future recovery in consumption. Under such
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

circumstances, YONDOSHI HOLDINGS Group undertook priority measures in eachbusiness to enhance enterprise value.
As a result, net sales for the subject second quarter cumulative period amounted to¥19,110 million (up 3.2% from the same period of the previous fiscal year), with
operating income of ¥1,069 million (up 65.7%), ordinary income of ¥1,284 million (up56.2%), and profit attributable to owners of parent to ¥696 million (up 35.7%).
Jewelry Business
Net Sales:
Operating Income:¥7,873 million¥533 million(down 5.2% YoY)
(up 44.0% YoY)

Jewelry business company The F.D.C. Products Group made steady progress withbusiness restructuring. Although revenue declined due to the consolidation of bridal
jewelry specialty stores, the profit margin improved. For fashion jewelry, sales at existing
stores rose from the previous fiscal year on efforts to broaden the base of female
customers, and new customer development. Sales from the continually expanding ecommerce channel remained positive, registering double-digit growth.
Apparel Business
Net Sales:
Operating Income:¥11,237 million¥777 million(up 10.1% YoY)
(up 58.4% 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, resulted in gains for both revenue and earnings. Apparel manufacturing andwholesaler The AS’TY Group expanded measures with major business partners against
the backdrop of the overseas production bases that are its strength, recording gains in bothrevenue and earnings.

Head 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: +81-3-5719-3295; 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 Sales

39,508

FY2/24(Forecast)
40,000Operating Income

1,979

2,100

+6.1%

Ordinary Income

2,342

2,500

+6.7%

Profit Attributable toOwners of Parent

1,149

1,300

+13.1%

YoY+1.2%

1. Forecast net income per share: 60.63 yen
2. Average number of issued shares (consolidated basis): 21,443,223 shares
3. Earnings per share (EPS) before goodwill amortization: 83.78 yen

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 variousfactors such as future economic conditions.
3. Cash Dividends for Fiscal 2023 (FY2/24)(Yen)
Annual Cash Dividend
FY2/23(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, 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: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp