YONDOSHI HOLDINGS INC.
First Section, Tokyo Stock Exchange (8008)

Reference Materials
April 11, 20161

1. Jewelry Market Trends
Brisk consumption of high-priced items mainly by the affluent
demographic; overall market scale projected to reach ¥1 trillion in 2019
◆ Domestic jewelry retail market in 2014 attained 972.6 billion yen, 101.1 % on Y-o-Y
basis, slightly increased from preceding year
◆ In addition to the affluent demographic, general consumers are also expected topurchase jewelry with relatively high unit prices◆ Despite the impact of an increase in the consumption tax rate, the scale of the jewelry
market is projected to reach ¥1 trillion in 2019
Transition and forecast of jewelry retail market size

(Billions of yen)
1,100

1,000

105.5%
YoY
105.6%

101.1%

99.2%

2013

2014

2015
(forecast)

102.6%

100.2%

2016(forecast)

2017(forecast)

103.0%
98.0%

900

800

7006002018(forecast)

2019(forecast)

2020(forecast)

Source: Summary of the “Jewelry Market in Japan: Key Research Findings 2015” posted on the Institute’s homepage.

2. Jewelry Business: List of Brands
・Flagship brand largely comprised of jewelry and bags
・Sold mainly through department stores・A specialty bridal brand that is distinguished by its spacious store layout andunrivalled customer service
・Largely marketed through street-level stores
・A classical-taste brand that harmoniously combines a sense of sophisticationand fun・Sold mainly through department stores・Casual jewelry brand for everyday use
・Principally marketed through railway station and fashion building stores
・Jewelry brand that blends the craftsmanship of Japan with the finish ofEurope
・Primarily sold through department stores
・Jewelry brand that emphasizes the importance of personal relationships andthat special person
・Largely sold through suburban shopping centers
・Bridal / pair ring specialty store
・Marketed throughout regional cities
・Specialty jeweled purse (bags and small leather items) brand・Principally marketed through departments stores, railway stations andfashion building stores3. Jewelry Business:
Approach toward Channel Strategies by Brand

Major
metropolitan
citiesRegionalandsuburbancities

Shopping centers; railway
station and fashionbuilding stores

Departmentstores

Street-level路面店stores4. Net Sales by Business (Consolidated)
FY 2012 (2013/2)(Millions ofyen, %)Actualresults

FY 2013 (2014/2)

Share(%)

Actualresults

FY 2014 (2015/2)

Share(%)

Actualresults

Share(%)

FY 2015 (2016/2)
Actualresults

Share(%)

Jewelrybusinessdomain24,67851.2

26,27753.6

28,53756.3

31,88060.3

Apparelbusinessdomain23,55848.8

22,72546.4

22,18843.7

21,003

39.7(The AS’TYGroup)

9,940

20.6

9,107

18.6

8,787

17.3

8,375

15.8

(MISUZU)

6,141

12.7

5,881

12.0

5,344

10.5

4,511

8.5

(age)

7,477

15.57,737

15.8

8,057

15.9

8,116

15.4

Total

48,237100.0

49,003100.0

50,726100.0

52,833100.0%

5. Sales by Marketing Channel (Consolidated)
FY 2012 (2013/2)(Millions ofyen, %)Actualresults

FY 2013 (2014/2)

Share(%)

Actualresults

FY 2014 (2015/2)

Share(%)

Actualresults

FY 2015 (2016/2)

Share(%)

Actualresults

Share(%)

Specialty
stores28,08459.4

29,783

61.9

29,97560.1

30,883

59.3

Department
stores

13,062

27.6

12,891

26.8

13,36826.8

14,773

28.4

Generalmerchandisi
ng stores

2,651

5.6

2,4715.1

2,404

4.8

2,319

4.5

Other

3,467

7.3

2,995

6.2

4,121

8.3

4,061

7.8

Total

47,264100.0

48,140100.049,868100.0

52,039100.0(Note: Net sales are exclusive of real estate leasing revenues.)

6. Overview of Capital Investment as well as
Depreciation and Amortization (Consolidated)
FY 2013 (2014/2)

FY 2014 (2015/2)

Actual results

Actual results

FY 2015 (2016/2)(Millions of yen, %)Actual results

YoY (%)

Capitalinvestment

821

1,209

1,000－17.3

Depreciation
andamortization

544

651

726

+11.5

Capitalinvestment

314466450－3.4

Depreciationandamortization

449

450446－0.9

Jewelry BusinessApparel Business7. Overview of Employees (Consolidated) andboard of directors
FY 2013 (2014/2)
Regular employees(The number in a parenthesis represent
female employees ) (Persons)

FY 2014 (2015/2)

FY 2015 (2016/2)

1,933 (1,592)

1,996 (1,661)

2,050 (1,710)

Part-timers (Persons)

1,050

1,021

991

Total (Persons)

2,983

3,017

3,041

Ratio of female employees (%)

82.4

83.2

83.4

Percentage of female managers (%)－－36.0

Average service years of male
employees (Years)
Average service years of female
employees (Years)－－

15.0－－

5.5* Ratio of female employees excluding part-time employees.

FY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)

Number of board of directors meetings(Times)

2021

21

Attendance to the board of directors
meetings (%)

99.5

99.6

98.4

Number of outside directors (Persons)

3

3

4

Number of meetings with institutional
investors and analysts (Times)

10211178

8. Jewelry Business: Sales by Brand and Product
FY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)(Millions of yen, %)Actual results

Actual results

YoY (%)YoY (%)

Actual results

YoY (%)

4ºC Jewelry

14,220+4.7

14,735+4.2

15,788+7.1

4ºC BRIDAL

6,479+30.7

6,299－3.6

7,121+11.6

canal4ºC

2,868+25.4

3,416+19.1

4,338+27.0

EAU DOUCE4ºC

463+6.1

478+3.2

546+14.2

RUGIADA535－14.1

455－15.0

304－33.0

MAISON JEWELL

99+141.8

178+79.8

235+32.0

deux et deux24－109+352.9

75－31.0Bags

778+2.2

1,061+36.4

1,676+58.0(Note: The Luria 4ºC brand has been included in the bag business since FY2014.)

9. Jewelry Business: Number of Customers andAverage Spending per Customer by Brand and Product
FY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)(Existingstores, %)Number ofcustomers

Averagespending percustomer

Number ofcustomers

Averagespending percustomer

Number ofcustomers

Averagespending per
customer

4ºC Jewelry+1.1+4.6+9.7－4.9+9.3－2.7

4ºC BRIDAL+0.9+11.6－8.5－4.5+9.4－1.4

canal4ºC+11.3－2.6+16.8－4.5+8.6－1.7

EAU DOUCE4ºC+7.3+0.4+10.1－1.6+6.2－2.6

RUGIADA－15.1+3.6－10.7+3.7－7.8+2.2

MAISON JEWELL－10.4－3.3+13.2+9.2+1.7+13.2

deux et deux－－+100.0－34.7+48.8－21.5

4ºC Bags－9.0+5.1+22.0+1.7－2.2+8.3

Luria 4ºC－－－－+11.5+11.3

10. Jewelry Business : Sales by Store Channel
FY 2013(2014/2)

FY 2014(2015/2)

Actual results

Actual results

Actual results

Roadside stores

1,842

1,484

1,339

4.2－9.8

Bridal stores

5,055

5,361

5,888

18.6+9.8

Fashion buildings

5,933

6,600

8,127

25.6+23.1

Department stores

12,83913,36814,733

46.4

+10.2

Other517

1,594

1,643

5.2+3.0

FY 2015 (2016/2)(Millions of yen, %)Share (%)

YoY (%)

11. Jewelry Business :Number of Stores Handling Domestic Brands
FY 2013 (2014/2)

FY2014 (2015/2)

FY 2015 (2016/2)

FY 2016 (2017/2)
Forecast

4ºC

88889393

4ºC BRIDAL

38444851

canal4ºC31364548

EAU DOUCE4ºC

781418RUGIADA

10966

MAISON JEWELL

4444

deux et deux

22224ºC Bags28364953

Luria 4ºC－71928(Stores)12. Apparel Business :The AS’TY Group: Sales by Business TypeFY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

Apparel manufacturingbusiness

7,638－9.6

7,724+1.1

6,928－10.3

Wholesale business

3,055－4.1

2,853－6.6

2,738+5.1

Developer business934－12.6

932－0.4

902－0.4

13. Apparel Business :MISUZU Co., Ltd.: Sales by Brand
FY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

Rew de Rew

1,241－11.0

1,156－6.9

987－14.6

LD Prime

3,327－0.7

2,804－14.2

2,521－10.1

Double dazzle

383－14.1

393+2.8

397+0.9

DADA731－2.1

606－11.8

516－14.8

14. Apparel Business :MISUZU Co., Ltd.: Number of Stores(Stores)FY2014 (2015/2)

FY 2013 (2014/2)

FY 2016 (2017/2)
Forecast

FY 2015 (2016/2)

Rew de Rew

494036－

LD prime

191816－

Double dazzle

666－

DADA

13118－

cosmic ray

111－

Total

887667－

15. Apparel Business :age Co., Ltd.: Sales by Store TypeFY 2013 (2014/2)

FY 2014 (2015/2)

FY 2015 (2016/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

PALETTE

6,282+6.5

6,847+9.0

7,097+3.7

Agency sale of 4ºC
brand products

237+25.8283+19.4366+29.0

RAPPORT

1,459－8.3

1,213－16.9

918－3.3

16. Apparel Business :age Co., Ltd.: Number of Stores(Stores)

FY2014 (2015/2)

FY 2013 (2014/2)

FY 2015 (2016/2)

FY 2016 (2017/2)
Forecast

PALETTE

5760

5863

Agency sale of 4ºC brandproducts

121617

17

RAPPORT

1111Total

80

7776

81

We kindly request that you direct all inquiries regarding this document and investor relations
in general to the following point of contact:

YONDOSHI HOLDINGS INC.
Corporate Planning Division (Kozuka)
TEL+81-3-5719-3429FAX+81-3-5719-3289
E-mail ir-yondoshi@yondoshi.co.jp

Disclaimer: Forecasts and forward-looking statements are based on a wide range of assumptions.
YONDOSHI HOLDINSG INC. takes no responsibility for the accuracy of the information contained inthis document and does not guarantee its validity or outcome. Readers are asked to use this information
with the understanding that actual results may differ materially from estimates and forecasts.