News Release Dated November 10, 2022
Company: AOKI Holdings Inc.
Representative: Hidekazu Azuma, President
Stock code: 8214, TSE Prime
Contact: Haruo Tamura, Executive Vice President
Tel: +81-45-941-1388

Revisions to Consolidated Earnings Forecasts and Year-end Dividend Forecast
for the Fiscal Year Ending March 31, 2023
AOKI Holdings Inc. has revised earnings forecasts and year-end dividend forecast for the fiscal year
ending on March 31, 2023 that were announced on May 12, 2022.
1. Consolidated forecasts(1) Revisions to Consolidated forecasts for the fiscal year ending March 31, 2023
(April 1, 2022 – March 31, 2023)
Net sales

OperatingprofitOrdinary
profitProfitattributableto owners ofparent

Net income
per share

Million yen

Million yen

Million yen

Million yen

Yen

Previous forecast (A)166,100

7,700

7,000

3,250

38.28

Revised forecast (B)172,700

8,800

8,150

4,100

48.29

6,600

1,100

1,150

850

4.0

14.3

16.4

26.2

154,916

5,443

4,360

2,563

Change (B - A)
Percentage change (%)(Reference)Previous fiscal year
(ended March 31, 2022)

30.21(2) Reasons for revisions
In the first half of the current fiscal year, sales of the fashion business were especially strong as thenumber of customers visiting stores increased due to the absence of any restrictions on economic activity
despite a rapid increase in COVID-19 cases that started in July. Also, sales of the other businesses weregenerally firm. As a result, net sales, operating profit, ordinary profit and profit attributable to owners ofparent were all higher than expected in relation to the forecasts for the fiscal year.
In the second half of the current fiscal year, the outlook for the economy remains uncertain because of
the negative impact on household budgets of the yen’s rapid depreciation and inflation, the increase in
the cost of raw materials, and other events. The fiscal year consolidated forecast has been revised asabove because the current situation is expected to remain generally firm, although there is a certain extent
of anticipation of the impact of yen’s depreciation in the fashion business and cost increases in eachbusiness.

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2. Dividend forecast(1) Revisions to dividend forecast
Dividend per share
2Q-endYear-end
Yen

Total
Yen

Yen

Previous forecast

8.00

15.00

Revised forecast

10.00

17.00

5.00

10.00

Current fiscal year results(Reference)Previous fiscal year (endedMarch 31, 2022)

7.00
5.00

(2) Reasons for revisions
Although the outlook for the second half of the fiscal year ending March 31, 2023 is becoming
increasingly uncertain, AOKI Holdings currently expects its results of operations to be generally
favorable. Under these circumstances, in appreciation of our shareholders’ ongoing support, we havecomprehensively taken into account the earnings outlook, the status of funding and other factors, andhave increased the year-end dividend forecast by 2 yen to 10 yen per share, for an annual dividend of 17
yen per share, including an interim dividend of 7 yen per share.
Note: Above forecasts are based on judgments made in accordance with information available tomanagement at the time this release was prepared, and actual results may differ substantially fromthese forecasts for a number of reasons. An announcement will be made promptly if there is any
significant new information concerning these forecasts.

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