August 8, 2024

Summary of Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2025
(Three Months Ended June 30, 2024)[Japanese GAAP]
Listings: Tokyo Stock Exchange
URL: https://www.aoki-hd.co.jp/

Company name: AOKI Holdings Inc.

Stock code:
8214
Representative:
Haruo Tamura, President
Contact:
Satoshi Eguchi, General Manager of IR OfficeTel: +81-45-941-1388
Scheduled date of payment of dividend:
Preparation of supplementary materials for financial results: Yes
Holding of financial results meeting:
None
Note: The original disclosure in Japanese was released on August 8, 2024 at 15:30 (GMT +9).

(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 – June 30, 2024)(1) Consolidated results of operations
Net sales

Operating profit

Million yen%
Million yen%
Three months ended Jun. 30, 2024
42,887
3.2
2,354
3.3
Three months ended Jun. 30, 2023
41,549
5.9
2,278
47.3
Note: Comprehensive income (million yen) Three months ended Jun. 30, 2024:
Three months ended Jun. 30, 2023:

Three months ended Jun. 30, 2024
Three months ended Jun. 30, 2023

Net income per
share
Yen
19.32
17.06

(Percentages represent year-on-year changes)
Profit attributable toOrdinary profit
owners of parent
Million yen%
Million yen
%
2,213
1.2
1,623
12.7
2,187
57.3
1,439
14.7
1,419 (down 11.5%)
1,604 (up 9.5%)

Diluted net income
per shareYen-(2) Consolidated financial position
Total assets
Net assets
Million yen
Million yen
222,681
135,367
As of Jun. 30, 2024
236,327
137,056
As of Mar. 31, 2024
Reference: Shareholders’ equity (million yen)
As of Jun. 30, 2024: 135,087

Equity ratio
%
60.7
57.9
As of Mar. 31, 2024: 136,757

2. Dividends
1Q-endYen

2Q-endYen

Dividend per share
3Q-endYen-

Year-end
Yen
37.00

-

40.00

FY3/2413.00
FY3/25
FY3/25 (forecasts)
15.00
Note: Revisions to the most recently announced dividend forecast: None

Total
Yen
50.00
55.00

3. Consolidated Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 – March 31, 2025)(Percentages represent year-on-year changes)
Profit attributable to
Net income per
Net sales
Operating profit
Ordinary profit
owners of parent
shareMillion yen%
Million yen%
Million yen%
Million yen%
Yen
Full year
191,500
2.0
15,0008.2
14,600
10.3
8,000
5.6
95.21
Note: Revisions to the most recently announced consolidated forecast: None

* Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others:

Yes2) Changes in accounting policies other than 1) above:None3) Changes in accounting-based estimates:

None4) Restatements:

None(4) Number of shares outstanding (common shares)
1) Number of shares outstanding (including treasury shares) at the end of the period
As of Jun. 30, 2024:

86,649,504 shares

As of Mar. 31, 2024:

86,649,504 shares

As of Mar. 31, 2024:

2,626,986 shares

Three months ended Jun. 30, 2023:

84,399,275 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2024:

2,627,197 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2024:

84,022,398 shares

Note 1: Review of the attached quarterly consolidated financial statements by a certified public accountant or auditing firm: None
Note 2: Cautionary statement with respect to forecasts and other matters
Cautionary statement with respect to forward-looking statements
Forecasts and forward-looking statements in these materials are based on assumptions judged to be valid and information available
to the Company at the time the materials were created. These materials are not promises by the Company regarding future
performance. Actual performance may differ significantly from these forecasts for a number of reasons. Please refer to “(3)Explanation of Consolidated Forecast and Other Forward-looking Statements” on page 3 of the attachments regarding
preconditions or other related matters for the forecast shown above.
Supplementary materials for financial results
Supplementary materials for financial results will be available on the Company’s website immediately after the earnings
announcement on Thursday, August 8, 2024.

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

Contents of Attachments
Pages
1. Qualitative Information on Quarterly Consolidated Financial Performance2(1) Explanation of Results of Operations

2(2) Explanation of Financial Position

3(3) Explanation of Consolidated Forecast and Other Forward-looking Statements

3

2. Quarterly Consolidated Financial Statements and Notes

4(1) Quarterly Consolidated Balance Sheet

4(2) Quarterly Consolidated Statement of Income andQuarterly Consolidated Statement of Comprehensive Income

6

Quarterly Consolidated Statement of Income

6

Quarterly Consolidated Statement of Comprehensive Income

7(3) Notes to Quarterly Consolidated Financial Statements

8

Changes in Accounting Policies

8

Segment Information

8

Significant Changes in Shareholders’ Equity

9

Going Concern Assumption

9

Notes to Consolidated Statement of Cash Flows

9

1

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
In the first quarter of the current fiscal year, there was a recovery of the Japanese economy at a moderate pace backed
by firm consumer spending as the labor market and personal income improved. The outlook for the economy is still
uncertain because of turmoil in many areas of the world and the continuation of inflation as the yen ’s depreciation
raises the cost of energy and raw materials.
Due to the measures of the AOKI Holdings Group explained in the following sections, both sales and earnings
increased in the first quarter. Net sales increased 3.2% from one year earlier to 42,887 million yen, operating profit
increased 3.3% to 2,354 million yen, ordinary profit increased 1.2% to 2,213 million yen, and profit attributable toowners of parent increased 12.7% to 1,623 million yen.
Business segment performance was as follows.
Fashion BusinessOne highlight of the first quarter was the expansion of merchandise in the Air Cool Series of apparel featuring
breathable fabrics for comfort during hot summer days. Selections include suits, combinations of jackets and slacks,business shirts, and other items. In the women’s apparel category, main product lines include Air Cool Suits, which
are comfortable and stylish, and jackets with outstanding functions in the MeWORK Series for comfort during thesummer. This business also increased the lineup of tops and other associated items. ORIHICA added the new productlineups for summer, including BIZSPO Slacks, BIZ Polo Shirts and BIZ T (t-shirts), to the BIZSPO Series of businesscasual apparel with a sporty styling. One ORIHICA store opened during the first quarter. As a result, the number ofstores increased from 593 at the end of the previous fiscal year to 594 at the end of the first quarter.
First quarter sales benefited from these actions and firm sales at existing stores. However, earnings were held dow nby the higher cost of purchasing merchandise, more advertising to attract customers and other factors. As a result,sales in this segment increased 3.3% year on year to 21,803 million yen and operating profit decreased 29.0% year on
year to 907 million yen.
Entertainment Business
KAIKATSU CLUB café complexes are continuing to add private rooms with locks and offering customers a variety
of items made possible by collaborations with other companies. One example is "Kaikatsu-no Natsumen (summer
noodles)" with an original broth, which was developed with a well-known manufacturer. COTE D’AZUR karaoke
stores expanded the food and beverage selection with a new drink menu, a happy hour between opening time and 6:00
in the evening, and other steps. FiT24, which operates 24-hour self-service fitness gyms, offered trial use at no costand days when people can use gyms at no cost and conducted a campaign that gives members a discount for bringing
in new members. Another priority was measures to increase the use of indoor golf facilities at these gyms. During thefirst quarter, KAIKATSU CLUB opened one café while two COTE D’AZUR karaoke facilities were closed due tomeasures to improve efficiency. As a result, including the 88 JIYU KUKAN café complexes and other locations of
RUNSYSTEM (including 51 franchised stores), the number of locations in this business decreased from 784 at theend of the previous fiscal year to 779 at the end of the first quarter.
Segment sales and earnings increased because of these measures and firm sales at existing locations. Sales in thissegment increased 0.9% to 18,204 million yen and operating profit increased 24.8% to 1,496 million yen.
Anniversaire and Bridal Business
There were many activities to receive orders for weddings, including the Shining Wedding Gown Cathedral Wedding
Fair campaign during the Golden Week holiday period in early May. Another major activity was measures to cover anincreasingly diverse range of needs, such as by offering wedding ceremonies that include a pet, a service that has been
consistently popular since it started. ANNIVERSAIRE Café added seasonal dessert selections that were very popular.
Sales increased 15.6% to 2,360 million yen and there was an operating loss of 213 million yen compared with a lossof 209 million yen one year earlier First quarter performance was supported by the operations of ANNIVERSAIRE
Omotesando, which was closed for remodeling one year earlier, but held down by a smal l decrease in the number of
weddings at existing locations.
2

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

Real Estate Leasing Business
Segment sales increased 32.2% to 1,681 million yen and operating profit increased 76.6% to 390 million yen mainly
because of the leasing of properties to tenants outside the AOKI Group in the previous fiscal year.
(2) Explanation of Financial Position
Balance sheet position
AssetsTotal assets at the end of the first quarter decreased 13,645 million yen from the end of the previous fiscal year to222,681 million yen primarily because of a decrease in accounts receivable-trade.
Current assets decreased 12,698 million yen mainly due to decreases of 6,972 million yen in accounts receivable-tradecaused by seasonal and other factors and 5,050 million yen in cash and deposits. Non-current assets decreased 947
million yen due to a decrease of 1,224 million yen in investments and other assets, including deferred tax assets, whileproperty, plant and equipment increased 423 million yen.
Liabilities
Current liabilities decreased 7,734 million yen from the end of the previous fiscal year. There were decreases of 4,728
million yen in accounts payable-trade due to seasonal and other factors and 1,967 million yen in accrued income taxes
due to the payment of income taxes. Non-current liabilities decreased 4,221 million yen due to a decrease of 4,258
million yen in long-term borrowings for scheduled repayments.
Net assets
Net assets decreased 1,689 million yen from the end of the previous fiscal year. There was a decrease of 1,485 million
yen in retained earnings due to a profit attributable to owners of parent and dividend from surplus.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
The plan for first quarter sales and earnings at the beginning of the current fiscal year was somewhat conservative dueto the assumption that the upturn in activity following the pandemic would end. However, first quarter sales andoperating profit were slightly higher than the pace required to accomplish the fiscal year plan mainly because of thestrong performance of the Entertainment Business.
There are no revisions to the forecasts for the fiscal year ending in March 2025 , which was announced on May 10,2024, due to uncertainty about the outlook for the business climate. Most significant is concerns about the increasing
tendency of consumers to hold down expenditures in response to inflation as the yen’s depreciation raises the cost ofenergy and raw materials.

3

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/24(As of Mar. 31, 2024)(Millions of yen)First quarter of FY3/25(As of Jun. 30, 2024)

AssetsCurrent assets
Cash and deposits

35,65730,606

Accounts receivable-trade15,442

8,470

Inventories

22,247

21,827

Other

8,496

8,243

Allowance for doubtful accounts

(42)

(46)

81,80069,102

Buildings and structures, net

64,40664,157

Land

30,69330,771Other, net

15,941

16,536

Total property, plant and equipment

111,042

111,465

6,771

6,644

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets
Guarantee deposits

6,446

6,381

Leasehold deposit

18,873

18,917

Other

11,446

10,222

Allowance for doubtful accounts

(52)

(52)

Total investments and other assets

36,71335,468

154,526

153,579

236,327

222,681

Total non-current assets
Total assets

4

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

FY3/24(As of Mar. 31, 2024)(Millions of yen)First quarter of FY3/25(As of Jun. 30, 2024)

Liabilities
Current liabilities
Accounts payable-trade

18,713

13,985Current portion of long-term borrowings

9,842

9,842

Income taxes payable

2,106

138

Provision for bonuses

3,790

858

240

38

Other

17,165

19,259Total current liabilities

51,857

44,12332,68728,428Provision for bonuses for directors (and other officers)

Non-current liabilities
Long-term borrowings
Retirement benefit liability

607

599

Asset retirement obligations

7,914

7,920

Other

6,203

6,242

Total non-current liabilities

47,412

43,191

99,27087,314

Share capital

23,282

23,282

Capital surplus

22,59722,597

Total liabilities
Net assets
Shareholders’ equity

Retained earnings

92,81391,327

Treasury shares(3,047)(3,047)

Total shareholders’ equity

135,645

134,160

741

570

Remeasurements of defined benefit plans

369

356

Total accumulated other comprehensive income

1,111

927

299

279

137,056

135,367

236,327

222,681

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Non-controlling interests
Total net assets
Total liabilities and net assets

5

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive
IncomeQuarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/24(Apr. 1, 2023 – Jun. 30, 2023)(Millions of yen)First three months of FY3/25(Apr. 1, 2024 – Jun. 30, 2024)

Net sales

41,54942,887

Cost of sales

25,06725,762Gross profit

16,481

17,124

Selling, general and administrative expenses

14,203

14,770Operating profit

2,278

2,354

Interest income

21

23

Dividend income

4

6

Other

62

36

Total non-operating profit

88

66

Interest expenses

79

65

Loss on retirement of non-current assets

13

15

Loss on store closings

31

65

Other

55

61

Total non-operating expenses

180

207

2,187

2,213

-

226

Non-operating profit

Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sale of investment securities
Settlements received

500-

Total extraordinary income

500

226

Impairment loss

86

71

Total extraordinary losses

86

71

Extraordinary losses

Profit before income taxes

2,601

2,369

Income taxes – current

595

61

Income taxes – deferred

600

703

Total income taxes

1,195

765

Profit

1,405

1,603

Loss attributable to non-controlling interests

(34)

(19)

Profit attributable to owners of parent

1,439

1,623

6

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/24(Apr. 1, 2023 – Jun. 30, 2023)(Millions of yen)First three months of FY3/25(Apr. 1, 2024 – Jun. 30, 2024)

1,405

1,603

Valuation difference on available-for-sale securities

217

(171)

Remeasurements of defined benefit plans, net of tax

(17)

(13)

ProfitOther comprehensive income

Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

7

199

(184)

1,604

1,419

1,639

1,438

(34)

(19)

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

(3) Notes to Quarterly Consolidated Financial Statements
Changes in Accounting Policies
Application of Accounting Standard for Current Income Taxes
The Company has applied the Accounting Standard for Current Income Taxes (Accounting Standards Board of Japan(ASBJ) Statement No. 27, October 28, 2022) from the beginning of the first quarter of the fiscal year ending March
31, 2025.
There is no effect of the application of this standard on the quarterly consolidated fi nancial statements.
Segment Information
First three months of FY3/24 (Apr. 1, 2023 – Jun. 30, 2023)
1. Information related to sales and profit/loss for each reportable segment and breakdown of revenue(Millions of yen)
Reportable segment

Fashion Entertainment

Anniversaireand Bridal

Real
EstateLeasing

Subtotal

Others(Note 1)

Total

Amounts
shown onquarterly
Adjustment
consolidated(Note 2)statement ofincome(Note 3)

Net sales
FashionCafé complex
Karaoke
Fitness

21,106-

14,057
2,479
1,319

-

-

21,106
14,057
2,479
1,319

-

21,106
14,057
2,479
1,319

-

21,106
14,0572,479
1,319

BridalOther
Revenue fromcontracts withcustomers
Other revenues

-

165

2,042
-

-

2,042
165

7

2,042
173

-

2,042
173

21,10618,023

2,042-

41,172

7

41,180-41,180External sales
Inter-segment
sales andtransfers
Total
Segment profit(loss)

-

17

-

351

369

-

369

-

369

21,106

18,041

2,042

351

41,542

7

41,549-41,549

0

1

0

920

922

14

937

(937)

-

21,106

18,043

2,042

1,272

42,46421

42,486(937)

41,549

1,279

1,199

(209)

221

2,490

(3)

2,487

(208)

2,278

Notes: 1. The “others” classification is businesses not included in reportable segments such as advertising-related business.
2. The -208 million yen adjustment to segment profit (loss) includes 1,108 million yen in elimination for inter-segment
transactions and -1,316 million yen in company-wide costs that cannot be allocated to any specific reportablesegments. Company-wide costs mainly include administration expenses of the Company that cannot be attributed toreportable segments.
3. Segment profit (loss)is adjusted with operating profit on the quarterly consolidated statement of income.

2. Information related to impairment losses on non-current assets, or goodwill, etc. for each reportable segment
Material impairment losses related to non-current assets
In the Fashion Business and the Entertainment Business, impairment losses were recognized for operating stores set
to be closed for which there is little expectation of recovery; impairment losses of 20 million yen and 65 million yen
were booked respectively in the first three months of FY3/24.

8

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2025

First three months of FY3/25 (Apr. 1, 2024 – Jun. 30, 2024)
1. Information related to sales and profit/loss for each reportable segment and breakdown of revenue(Millions of yen)
Reportable segment

Fashion Entertainment

Net sales
FashionCafé complex
Karaoke
Fitness
BridalOther
Revenue fromcontracts withcustomers
Other revenues
External sales
Inter-segment
sales andtransfers
Total
Segment profit(loss)

Anniversaireand Bridal

Real
EstateLeasing

Subtotal

Others(Note 1)

Total

Amounts
shown onquarterly
Adjustment
consolidated(Note 2)statement ofincome(Note 3)21,803-

14,451--21,803
14,451-21,803
14,451-21,803
14,451

-

2,405
1,217
127

2,360
-

-

2,405
1,217
2,360
127

5

2,405
1,217
2,360
132

-

2,405
1,217
2,360
132

21,803

18,2022,360-

42,366

5

42,371-

42,371

-

-

-

516

516

-

516

-

516

21,803

18,2022,360

516

42,882

542,887-42,887

0

2

0

1,165

1,168

16

1,185

(1,185)-21,803

18,204

2,360

1,681

44,05022

44,072(1,185)42,887

907

1,496

(213)

390

2,581

(1)

2,580

(225)

2,354

Notes: 1. The “others” classification is businesses not included in reportable segments such as advertising-related business.
2. The -225 million yen adjustment to segment profit (loss) includes 950 million yen in elimination for inter-segment
transactions and -1,176 million yen in company-wide costs that cannot be allocated to any specific reportablesegments. Company-wide costs mainly include administration expenses of the Company that cannot be attributed toreportable segments.
3. Segment profit (loss)is adjusted with operating profit on the quarterly consolidated statement of income.

2. Information related to impairment losses on non-current assets, or goodwill, etc. for each reportable segment
Material impairment losses related to non-current assets
In the Fashion Business, the Entertainment Business and the Real Estate Leasing Business, impairment losses wererecognized for operating stores set to be closed, or expected to remain in the red; impairment losses of 19 million
yen, 26 million yen and 25 million yen were booked respectively in the first three months of FY3/25.
Significant Changes in Shareholders’ Equity
First three months of FY3/25 (Apr. 1, 2024 – Jun. 30, 2024)
No reportable information.
Going Concern Assumption
No reportable information.
Notes to the Quarterly Consolidated Statement of Cash FlowsA quarterly consolidated statement of cash flows for the first three months of FY3/25 has not been prepared.
Depreciation (includes amortization expenses related to intangible assets and long-term prepaid expenses minus
goodwill) and amortization of goodwill for the first three months of each year is as follows.

Depreciation
Amortization of goodwill

First three months of FY3/24(Apr. 1, 2023 – Jun. 30, 2023)
2,305
20

(Millions of yen)First three months of FY3/25(Apr. 1, 2024 – Jun. 30, 2024)
2,461
20

* This financial report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers
who prefer an English translation.

9