August 9, 2023

Summary of Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2024
(Three Months Ended June 30, 2023)[Japanese GAAP]
Listings: Tokyo Stock Exchange
Company name: AOKI Holdings Inc.
Stock code:
8214
URL: https://www.aoki-hd.co.jp/
Representative:
Haruo Tamura, President
Contact:
Satoshi Eguchi, General Manager of IR/PR OfficeTel: +81-45-941-1388
Scheduled date of filing of Quarterly Report:
August 10, 2023
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial
Yes
results:
Holding of quarterly financial results meeting:
None
Note: The original disclosure in Japanese was released on August 9, 2023 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, 2023
(April 1, 2023 – June 30, 2023)(1) Consolidated results of operations
Net sales

Operating profit

Million yen%
Million yen%
Three months ended Jun. 30, 2023
41,549
5.9
2,278
47.3
Three months ended Jun. 30, 2022
39,22719.2
1,547
Note: Comprehensive income (million yen) Three months ended Jun. 30, 2023:
Three months ended Jun. 30, 2022:

Three months ended Jun. 30, 2023
Three months ended Jun. 30, 2022

Net income per
share
Yen
17.06
14.79

(Percentages represent year-on-year changes)
Profit attributable toOrdinary profit
owners of parent
Million yen%
Million yen
%
2,187
57.3
1,439
14.7
1,390
1,255
1,604 (up 9.5%)
1,465 (-%)

Diluted net income
per shareYen-(2) Consolidated financial position
Total assets
Net assets
Million yen
Million yen
225,695
131,875
As of Jun. 30, 2023
233,416
132,251
As of Mar. 31, 2023
Reference: Shareholders’ equity (million yen)
As of Jun. 30, 2023: 131,628

Equity ratio
%
58.3
56.5
As of Mar. 31, 2023: 131,969

2. Dividends
1Q-endYen

2Q-endYen

Dividend per share
3Q-endYen-

Year-end
Yen
13.00

-

14.00

FY3/237.00
FY3/24
FY3/24 (forecasts)
13.00
Note: Revisions to the most recently announced dividend forecast: None

Total
Yen
20.00
27.00

3. Consolidated Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 – March 31, 2024)(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
180,500
2.5
10,8005.5
10,300
22.2
5,800
3.0
69.01
Note: Revisions to the most recently announced consolidated forecast: None

* Notes(1) Changes in consolidated subsidiaries during the period (changes in scope of consolidation): 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:None2) 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, 2023:

86,649,504 shares

As of Mar. 31, 2023:

87,649,504 shares

As of Mar. 31, 2023:

2,746,866 shares

Three months ended Jun. 30, 2022:

84,902,947 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2023:

2,760,169 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2023:

84,399,275 shares

Note 1: The current quarterly summary report is not subject to quarterly review by certified public accountants or auditing firms.
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 quarterly financial results
Supplementary materials for quarterly financial results will be available on the Company’s website immediately after the earnings
announcement on Wednesday, August 9, 2023.

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

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

Going Concern Assumption

8

Significant Changes in Shareholders’ Equity

8

Segment Information

8

1

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
In the first quarter of the current fiscal year, the Japanese economy recovered slowly mainly due to further progresswith the normalization of economic activities. However, the outlook for the economy remains uncertain because of
the high cost of energy and raw materials caused by global events causing uncertainty, the yen’s depreciation andother reasons.
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 5.9% from one year earlier to 41,549 million yen, operating profit
increased 47.3% to 2,278 million yen, ordinary profit increased 57.3% to 2,187 million yen, and profit attributable toowners of parent increased 14.7% to 1,439 million yen.
Business segment performance was as follows.
Fashion BusinessFor comfort during hot summer days, the lineup of apparel in the Air Cool series, which uses a material developed
jointly with an academic sector partner, was expanded. In addition, there were measures to increase the lineup of
merchandise in the casual apparel category. For example, the Pajama Suits series, which continues to post strong sales,
added a pajama blazer and there were other activities. Another highlight of the first quarter was the start of operations
OKI Rental Service at all AOKI stores, which rents morning coats and tuxedos in an easy to use format. In the women’s
fashion category, sales started for 360° Washable Pretty Suits (Air Cool Suits), which use the same fabric as in the
popular Air Cool Suits for men. One AOKI store was opened, and one AOKI store and two ORIHICA stores wereclosed to improve the efficiency of store operations. As a result, the number of stores decreased from 596 at the endof the previous fiscal year to 594 at the end of the first quarter.
These activities and other measures generated strong sales of heavy clothing as people began wearing suits again andof Cool Biz apparel. As a result, sales increased 0.6% year on year to 21,106 million yen and operating profit increased
8.7% year on year to 1,279 million yen.
Anniversaire and Bridal Business
Activities during the first quarter included a Cathedral Wedding Fair with Wedding Gown Trial held during Golden
Week, enabling visitors to have a simulated experience of a memorable ANNIVERSAIRE wedding, and thecontinuation of marketing activities using the internet and social networking services for efficiently attracting
customers In addition, ANNIVERSAIRE Omotesando, which is celebrating its 25th anniversary, is preparing for areopening in September 2023 as a facility offering outstanding experiences, products, feelings, and services related toanniversaries.
Despite these initiatives and cost-cutting measures, the number of weddings decreased mainly due to the closing of
ANNIVERSAIRE Omotesando. As a result, sales decreased 5.4% to 2,042 million yen and there was an operating
loss of 209 million yen compared with a profit of 39 million yen one year earlier.
Entertainment Business
KAIKATSU CLUB café complexes provide services for businesspeople and students, such as partnership with The
Tokyo Chamber of Commerce and Industry concerning its certification tests and joining the Nikkei’s Office Passsystem, and enhanced its food and beverage menu by partnering with famous restaurant chain stores and manufacturers.
At COTE D’AZUR karaoke facilities, there were various campaigns with partners, including collaborations with
Gelato Licca-chan and BEYBLADE X. FiT24, which operates 24-hour self-service fitness gyms, continued to increase
the number of indoor golf facilities. During the first quarter, FiT24 opened 2 gyms while 1 KAIKATSU CLUB caféand 1 COTE D’AZUR karaoke facility were closed due to measures to improve efficiency. As a result, including the
102 JIYU KUKAN café complexes and other locations of RUNSYSTEM (including 56 franchised stores), the numberof locations in this business decreased from 810 at the end of the previous fiscal year to 806 at the end of the firstquarter.
Segment sales and earnings increased because of these measures and other factors. Sales in this segment increased

2

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

14.5% to 18,043 million yen and operating profit increased 292.9% to 1,199 million yen.
Real Estate Leasing Business
Segment sales increased 8.2% to 1,272 million yen and operating profit increased 9.7% to 221 million yen mainly
because of the leasing of idle space of the AOKI Group’s stores.
(2) Explanation of Financial Position
Balance sheet position
AssetsTotal assets at the end of the first quarter decreased 7,720 million yen from the end of the previous fiscal year to225,695 million yen primarily because of a decrease in accounts receivable-trade.
Current assets decreased 9,583 million yen mainly due to a decrease of 5,592 million yen in accounts receivable-tradecaused by seasonal and other factors. Non-current assets increased 1,862 million yen as property, plant and equipment
increased 2,143 million yen.
Liabilities
Current liabilities decreased 6,673 million yen from the end of the previous fiscal year. There were decreases of 3,135
million yen in accounts payable-trade mainly due to seasonal factors and 1,838 million yen in accrued income taxes
due to the payment of income taxes. Non-current liabilities decreased 671 million yen due to a decrease of 1,031
million yen in long-term borrowings for scheduled repayments.
Net assets
Net assets decreased 375 million yen from the end of the previous fiscal year. Although there was an increase of 336
million yen in retained earnings due to a profit attributable to owners of parent and dividend from surplus, a net
decrease of 288 million yen in treasury shares as a result of repurchase and retirement, and a decrease of 1,165 million
yen in capital surplus due to the retirement of treasury shares.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
Sales and operating profit in the first quarter were high in relation to the pace required to accomplish the fiscal year
forecast because economic activity in Japan continues to return to normal and demand is rebounding following thedownturn caused by the pandemic.
There are no revisions to the fiscal year forecast that was announced on May 11, 2023 because of uncertainty about
the outlook caused by the high cost of energy and raw materials, the yen’s weakness, and the increasing tendency of
consumers to hold down spending due to inflation and other concerns.

3

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/23(As of Mar. 31, 2023)(Millions of yen)First quarter of FY3/24(As of Jun. 30, 2023)

AssetsCurrent assets
Cash and deposits

38,29533,202

Accounts receivable-trade

13,114

7,522

Inventories

19,465

19,934

Other

8,015

8,667

Allowance for doubtful accounts

(54)

(73)

78,836

69,253

Buildings and structures, net

63,89863,659Land

31,021

31,021Others, net

14,378

16,761

Total property, plant and equipment

109,299

111,442

7,007

6,930

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

Intangible assets
Investments and other assets
Guarantee deposits

6,628

6,537

Leasehold deposit

19,01319,058

Other

12,682

12,526

Allowance for doubtful accounts

(53)

(53)

Total investments and other assets

38,27238,069154,579

156,442

233,416

225,695

Total non-current assets
Total assets

4

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

(Millions of yen)First quarter of FY3/24(As of Jun. 30, 2023)

FY3/23(As of Mar. 31, 2023)
Liabilities
Current liabilities
Accounts payable-trade17,963

14,827

Current portion of long-term borrowings

10,647

9,075

Income taxes payable

2,012

174

Provision for bonuses

3,349

776

65

33

Other

14,865

17,342

Total current liabilities

48,90442,23036,20635,175

Provision for bonuses for directors (and other officers)

Non-current liabilities
Long-term borrowings
Retirement benefit liability

895

886

Asset retirement obligations

7,855

7,879

Other

7,302

7,648

Total non-current liabilities

52,26051,589101,164

93,820Share capital

23,282

23,282

Capital surplus

23,79522,629Total liabilities
Net assets
Shareholders’ equity

Retained earnings

87,43487,770Treasury shares(3,490)(3,201)

Total shareholders’ equity

131,022

130,481682

899

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans

265

247

Total accumulated other comprehensive income

947

1,146

281

246

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

5132,251

131,875

233,416

225,695

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

(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 FY3/23(Apr. 1, 2022 – Jun. 30, 2022)(Millions of yen)First three months of FY3/24(Apr. 1, 2023 – Jun. 30, 2023)

Net sales

39,22741,549

Cost of sales

24,33825,067Gross profit

14,88816,481

Selling, general and administrative expenses

13,341

14,203Operating profit

1,547

2,278

Interest income

19

21

Dividend income

19

4

Other

53

62

Total non-operating profit

91

88

Non-operating profit

Non-operating expenses
Interest expenses

90

79

Loss on retirement of non-current assets

27

13

Other

130

86

Total non-operating expenses

248

180

1,390

2,187

-

500

Subsidies for employment adjustment

230-

Total extraordinary income

230

500

Ordinary profit
Extraordinary income
Settlements received

Extraordinary losses
Impairment loss

131

86

Total extraordinary losses

131

86

1,490

2,601

Income taxes – current

340

595

Income taxes – deferred

(106)

600

Total income taxes

234

1,195

1,255

1,405

-

(34)

1,255

1,439

Profit before income taxes

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

6

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/23(Apr. 1, 2022 – Jun. 30, 2022)(Millions of yen)First three months of FY3/24(Apr. 1, 2023 – Jun. 30, 2023)

1,255

1,405

Valuation difference on available-for-sale securities

229

217

Remeasurements of defined benefit plans, net of tax

(19)

(17)

ProfitOther comprehensive income

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

7

210

199

1,465

1,604

1,465

1,639

-

(34)

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

(3) Notes to Quarterly Consolidated Financial Statements
Going Concern Assumption
No reportable information.
Significant Changes in Shareholders’ Equity
First three months of FY3/24 (Apr. 1, 2023 – Jun. 30, 2023)
Purchase and retirement of treasury shares
AOKI Holdings purchased 1 million treasury shares on May 16, 2023 and retired the same number of shares on May
29, 2023 pursuant to the resolution of the Board of Directors on May 15, 2023.
As a result, treasury shares increased 877 million yen due to the purchase of treasury shares, and capital surplus andtreasury shares decreased 1,165 million yen each due to the retirement of treasury shares.
Segment Information
First three months of FY3/23 (Apr. 1, 2022 – Jun. 30, 2022)
1. Information related to sales and profit/loss for each reportable segment and breakdown of revenue(Millions of yen)Amounts
shown onquarterly
Adjustment
consolidated(Note 2)statement ofincome(Note 3)

Reportable segment

FashionAnniversaireand Bridal

Entertainment

RealEstateLeasing

OthersSubtotal (Note 1)

Total

Sales
Fashion20,981---

20,981-

20,981-

20,981

Bridal

-

2,157

-

-

2,157

-

2,157

-

2,157

Café complex--

12,331-

12,331-

12,331-

12,331

Karaoke

-

-

2,306

-

2,306

-

2,306

-

2,306

Fitness

-

-

1,121

-

1,121

-

1,121

-

1,121

Other
Revenue fromcontracts withcustomers
Other revenues

-

-

-

-

-

5

5

-

5

20,981

2,157

15,758-38,8985

38,903-38,903

-

-

-

324

324

-

324

-

324

20,981

2,157

15,758324

39,222

5

39,227-39,227

-

2

2

851

856

11

867

(867)

-

20,981

2,160

15,761

1,176

40,07816

40,095(867)

39,227External sales
Inter-segment sales
and transfers
Total

Segment profit (loss)
1,176
39
305
201
1,723
(0)
1,723
(176)
1,547
Notes: 1. The “others” classification refers to businesses not included in reportable segments such as advertising-related business.
2. The -176 million yen adjustment to segment profit (loss) includes 975 million yen in elimination for inter-segment
transactions, and -1,151 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 converted for which there is little expectation of recovery;
impairment losses of 13 million yen, 113 million yen and 4 million yen were booked respectively in the first threemonths of FY3/23.

8

AOKI Holdings Inc. (8214) First Quarter of the Fiscal Year Ending March 31, 2024

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
Reportable segment

FashionAnniversaireand Bridal

Entertainment

RealEstateLeasing

21,106---

Bridal

-

2,042

-

Café complex--

14,057

Karaoke

-

-

2,479

Fitness

-

-

1,319

Other
Revenue fromcontracts withcustomers
Other revenues--

21,106

OthersSubtotal (Note 1)

Total(Millions of yen)Amounts
shown onquarterly
Adjustment
consolidated(Note 2)statement ofincome(Note 3)

Sales
FashionExternal sales
Inter-segment sales
and transfers
Total

21,106-

21,106

-

-

2,042

-

14,057

-

165

2,042

-

21,106

-

2,042

-

2,042

-

14,057-

14,057

2,479

-

2,479

-

2,479

1,319

-

1,319

-

1,319

-

165

7

173

-

173

18,023-

41,172

7

41,180-41,180

-

18

350

369

-

369

-

369

21,106

2,042

18,042350

41,542

7

41,549-41,549

0

0

0

921

922

14

937

(937)

-

21,106

2,042

18,043

1,272

42,46421

42,486(937)

41,549Segment profit (loss)
1,279
(209)
1,199
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 1,207 million yen in elimination for inter-segment
transactions, -20 million yen in amortization of goodwill, and -1,395 million yen in company-wide costs that cannot beallocated to any specific reportable segments. Company-wide costs mainly include administration expenses of theCompany that cannot be attributed to reportable 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.

* 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