CONSOLIDATED FINANCIAL REPORT（Japanese GAAP）
NINE-MONTH PERIOD OF THE FISCAL YEAR ENDINGFEBRUARY 28, 2022
(March 1, 2021 to November 30, 2021)
January 6, 2022
YONDOSHI HOLDINGS INC. is listed on the First Section of the Tokyo Stock Exchange under the securities code number
8008.
Representative:
Inquiries:

Saishi Kimura, Chairman and Representative Director, CEO
Masahiko Nishimura, Director and Executive Officer responsible for Finance
Tel: +81-3-5719-3429
URL: https:// yondoshi.co.jp/
Quarterly Securities Report filing date (planned): January 11, 2022
Supplemental materials prepared for quarterly financial results: No
Holding of quarterly financial results meeting: No
Dividend payment commencement date (planned): —(Millions of yen rounded down)

1. Consolidated Operating Results for the Nine-Month Period of Fiscal 2021
(March 1, 2021 to November 30, 2021)(1) Consolidated Operating Results (Cumulative)(Percentage figures are the increase / (decrease) for the corresponding period of the previous fiscal year.)
Profit attributable to
Net sales
Operating Income
Ordinary Income
owners of parent％

Millions of yen

FY2021
Nine-Month Period
FY2020Nine-Month Period

Note: Comprehensive income

Millions of yen％

Millions of yen％

Millions of yen％

27,323(3.5)

695(62.9)

1,169(47.1)

600(49.5)

28,323(13.6)

1,874(38.0)

2,210(32.8)

1,188(40.8)FY2021 Nine-Month Period: 769 million yen (－64.7%)
FY2020 Nine-Month Period: 2,180 million yen (11.3%)

Net Income
per Share

FY2021
Nine-Month Period
FY2020Nine-Month Period

Net Income per
Share after Dilution
Yen

Yen

28.04

—

54.80

—

(Reference) Operating income before the amortization of goodwill:
FY 2021 Nine-Month Period: ¥1,068 million FY 2020 Nine-Month Period: ¥2,246 million
The Company considers operating income before the amortization of goodwill to be an important management indicator.

(2) Consolidated Financial Position
Total Assets

Net Assets per Share%Yen

54,20338,572

71.1

1,798.57

53,00039,54374.6

1,844.69

Millions of yen

November 30, 2021
February 28, 2021

Net Assets to Total
AssetsNet Assets
Millions of yen(Reference)Shareholders’ equity: November 30, 2021: 38,549 million yen

February 28, 2021: 39,513 million yen

2. Dividends
Dividends per Share
(Record Date)
Fiscal 2020
Fiscal 2021
Fiscal 2021
(Forecast)End of 1Q

End of 2Q

End of 3Q

AnnualYear-end

Yen

Yen

Yen

Yen

Yen

—
—

40.50
41.50

—
—

40.50

81.00

41.50

83.00

Note: Revision to the most recently announced cash dividend forecast: No-1-

3. Forecasts of Consolidated Operating Results for the Fiscal Year Ending February 28, 2022
(March 1, 2021 to February 28, 2022)(% figures for the full fiscal year represent year-on-year increase or decrease)
Profit attributable to
Net Income
Operating Income
Ordinary Income
owners of parent
per Share

Net Sales
Millions of yen

Fiscal year
endingFebruary 28,
2022

38,300%(2.9)

Millions of yen

1,700

%

(38.6)

Millions of yen

2,250

%

Millions of yen(29.6)%

1,400 (13.7)

Yen en65.33

Note: Revision to the most recently announced operating results forecast: Yes(Reference) Forecast EPS before the amortization of goodwill for the full FY 2021 is ¥88.50.

Notes(1) Changes in Important Subsidiaries during the Period:(Changes in specified subsidiaries that caused changes in the scope of consolidation): No(2) Application of Special Accounting Practices in the Preparation of the Quarterly Consolidated
Financial Statements: Yes(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements
1) Changes of accounting principles in line with revisions to accounting and other standards: No
2) Changes of accounting principles other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Number of Shares Issued and Outstanding (Common Stock)
1. Total number of shares issued and outstanding (including treasury stock) as of the period-end:
November 30, 2021: 24,331,356 sharesFeb. 28, 2021: 29,331,356 shares
2. Total number of treasury stock as of the period-end:
November 30, 2021: 2,897,922 sharesFeb. 28, 2021: 2,911,168 shares
3. Average number of shares for the period (Cumulative total for the quarterly consolidated
period)FY2021 Nine-Month Period: 21,428,376 shares FY2020 Nine-Month Period: 21,694,081 shares
Note: The number of recorded treasury stock includes 83,926 of the Company’ shares held by the Shares Grant
Trust for Officers as of the end of the third quarter of the fiscal year.

The financial statement summary is not subject to auditing by certified public accountants or audit firms.
Explanation concerning the Proper Use of Operating Results Forecasts and Other Relevant Specific Items
1. The forecasts of operating results and other items concerning the future contained in this document are
based on management’s assumptions and beliefs that are determined to be reasonable in light ofcurrently available information, YONDOSHI HOLDINGS INC. cautions readers that due to a variety
of factors actual results may differ materially from forecasts. For the assumptions that underpin
operating results forecasts as well as cautionary notes on the use of operating results forecasts, pleaserefer to “1. Qualitative Information on Business and Financial Results (3) Explanation of Consolidated
Results Forecasts and Other Future Predictions” on page 4.

-2-

Contents
1.

2.

Qualitative Information on Business and Financial Results

4(1)

Explanation of Business Results

4(2)

Explanation of Financial Condition

4(3)

Explanation of Consolidated Results Forecasts and Other Future Predictions

4

Consolidated Quarterly Financial Statements

5(1)

Consolidated Quarterly Balance Sheets

5(2)

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of7

Comprehensive Income(3)

Consolidated Quarterly Statements of Income Third Quarter Cumulative

7

Consolidated Quarterly Statements of Comprehensive Income Third Quarter Cumulative

8

Notes to Consolidated Quarterly Financial Statements

9(Notes Regarding Going Concern Assumptions)9(Notes Regarding Substantial Changes in Shareholders’ Equity)9(Changes in the Scope of Consolidation or Application of the Equity Method)

9(Application of Special Accounting Treatment in the Preparation of the Consolidated

9

Financial Statements)(Additional Information)

9(Segment Information)

10(Important Subsequent Events)

11

-3-

1. Qualitative Information on Business and Financial Results(1) Explanation of Business Results
During the third quarter cumulative period (March 1, 2021, to November 30, 2021) of fiscal 2021 (ending
February 28, 2022), conditions throughout the Japanese economy remained severe. With little sign of the
COVID-19 pandemic abating, the Japanese government issued a series of intermittent emergency
declarations and priority measures, and although these measures were lifted nationwide on October 1,
concerns over a resurgence persisted.
In the retail industry, the outlook remained clouded as a result of the impact from the government’s
call for people to remain at home, along with business suspensions and shortened operating hours at stores.
In addition, even after the lifting of emergency measures, the employment and income situation failed to
improve, leading to further cooling off in consumer sentiment and a slowdown in spending.
Under these circumstances, during fiscal 2021, the initial year of the sixth medium-term management
plan, YONDOSHI HOLDINGS Group is working to provide products and services that exceed customer
expectations, and achieve further growth, by leveraging the strengths of the corporate group to the fullest
extent. In addition, the Company is practicing CSR-based management to establish a highly trusted
corporate group, and is working to enhance enterprise value by strengthening internal controls, providing
shareholder returns, and making medium to long-term investments linked to earnings growth.
As a result, for the subject third quarter cumulative period, net sales amounted to ¥27,323 million(down 3.5% from the same period of the previous fiscal year), with operating income of ¥695 million(down 62.9%), ordinary income of ¥1,169 million (down 47.1%), and profit attributable to owners ofparent of ¥600 million (down 49.5%). Operating income before the amortization of goodwill, which has
been designated an important management indicator, amounted to ¥1,068 million (down 50.1%).
Operating results by business segment were as follows.
Jewelry Business
The F.D.C. Products Group, which operates the jewelry business, faced a harsh business environment
stemming from the prolonged state of emergency in response to the spread of COVID -19. Sales of fashion
jewelry recovered after the lifting of the emergency declaration in October, but a recovery in bridal jewelry
will require more time. In addition, operating income decreased significantly due to a reactionary increasein personnel expenses, a portion of which was recorded as an extraordinary loss in the corresponding
period of the previous fiscal year.
As a result, net sales in the Jewelry Business amounted to ¥12,131 million (down 12.3% from thesame period of the previous fiscal year), with operating income of ¥116 million (down 90.5%).
Apparel Business
Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, achieved record-high net sales
and operating income as a result of opening eight new stores, along with the success of its sales promotion
campaigns and 25th anniversary events.
The AS’TY Group experienced a temporary slowdown in demand due to the COVID -19 crisis, but
continued with measures to strengthen its product planning capabilities.
As a result, net sales in the Apparel Business segment amounted to ¥15,192 million (up 4.8% from thesame period of the previous fiscal year), with operating income of ¥872 million (down 6.2%).
(2) Explanation of Financial Condition
Total assets at the end of the subject third quarter cumulative period (November 30, 2021) amounted to¥54,203 million, an increase of ¥1,202 million from the end of the previous fiscal year (February 28,2021). This was due mainly to an increase of ¥844 million in investment securities. Total liabilities
amounted to ¥15,630 million, an increase of ¥2,173 million from the end of the previous fiscal year. Thiswas due mainly to an increase of ¥1,700 million in short-term loans payable. Total net assets at the end of
the subject period amounted to ¥38,572 million, a decrease of ¥970 million from the end of the previous
fiscal year. This was due mainly to a decrease of ¥1,161 million in retained earnings.
(3) Explanation of Consolidated Results Forecasts and Other Future Predictions
For consolidated results forecasts for fiscal 2021 (ending February 28, 2022), see “Notice of Revision to
Fiscal 2021 Forecasts” released today (January 6, 2022).

-4-

2. Consolidated Quarterly Financial Statements(1) Consolidated Quarterly Balance Sheets(Millions of yen)
End of the Fiscal Year Ended
February 28, 2021
(As of February 28, 2021)

End of the Third Quarter of
the Fiscal Year Ending
February 28, 2022
(As of November 30, 2021)

3,232
2,587
7,718
285
1,081
713
(3)

2,313
3,332
8,712
324
779
1,152
(4)

15,616

16,610

4,982
5,492
538

4,698
5,492
418

ASSETS
Current assets:
Cash and deposits
Notes and accounts receivable ― trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other current assets
Allowance for doubtful accounts
Total current assets
Noncurrent assets:
Property, plant and equipment:
Buildings and structures, net
Land
Other, net

11,013

10,608Intangible assets:
Goodwill
Other intangible assets

Total property, plant and equipment

2,730
201

2,358
306

Total intangible assets

2,932

2,664

Investments and other assets:
Investment securities
Net defined benefit asset
Other
Allowance for doubtful accounts

18,489
487
4,516
(55)

19,333
513
4,523
(51)

Total investments and other assets

23,43824,31937,38337,59253,00054,203

Total noncurrent assets
Total assets

-5-

５．
（要約）四半期連結財務諸表(Millions of yen)
End of the Fiscal Year Ended
February 28, 2021
(As of February 28, 2021)

End of the Third Quarter of
the Fiscal Year Ending
February 28, 2022
(As of November 30, 2021)

3,148
－
643
269
25
－
2,715

4,041
1,700
206
371
38
12
2,519

6,802

8,889

123

133

497
1,428
4,605

507
1,428
4,670

LIABILITIESCurrent liabilities:
Notes and accounts payable ― trade
Short-term loans payable
Income taxes payable
Provision for bonuses
Provision for directors' bonuses
Asset retirement obligations
Other
Total current liabilities
Noncurrent liabilities:
Provision for share-based remuneration for directors (andother officers)
Retirement benefit liability
Asset retirement obligations
Other

6,654

6,740

Total liabilities

Total noncurrent liabilities

13,457

15,630

NET ASSETS
Shareholders’ equity:
Capital stock
Capital surplus
Retained earnings
Treasury stock

2,486
7,208
31,978(6,215)

2,486
7,196
30,817(6,175)35,45834,325

Other accumulated comprehensive income:
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustments
Remeasurements of defined benefit plans

Total shareholders’ equity

4,315
8
(233)
75
(110)

4,545
9
(233)
1
(99)

Total other accumulated comprehensive income

4,055

4,223

Subscription rights to shares
Total net assets
Total liabilities and net assets

-6-

29

23

39,54338,57253,00054,203

(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements ofComprehensive Income
Consolidated Quarterly Statements of Income
Third Quarter Cumulative(Millions of yen)
Nine-Month Period of the
Fiscal Year Ended
February 28, 2021
(March 1, 2020 toNovember 30, 2020)

Nine-Month Period of the
Fiscal Year Ending
February 28, 2022
(March 1, 2021 toNovember 30, 2021)

Net sales
Cost of Sales

28,32313,09727,323
13,075Gross profit

15,226

14,248Selling, general and administrative expenses

13,351

13,552

Operating income

1,874

695

101
140
54

Non-operating income
Interest income
Dividends received
Rent of real estate for investment
Foreign exchange gains
Reversal of allowance for doubtful accounts
Subsidy income
Other

―
―
19
45

59
153
54
26
0
159
41

Total non-operating income

362

495

2
3
7
2
1
2
4

0
3
1

Non-operating expenses
Interest expenses
Depreciation of real estate for investment
Management cost for real estate for investment
Foreign exchange losses
Commission for purchase of treasury shares
Provision of allowance for doubtful accounts
Loss on cancellation of insurance policies
Depreciation of inactive non-current assets
Other

―
2

Total non-operating expenses

―
―
―
2
12
1

26

21

2,210

1,169

22
52
462
28

―
―

―

60

566

125

108
27
405
6
121
75

188

Total extraordinary losses

745

286

Net income before income taxes

2,032

1,008

Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on reversal of share acquisition rights
Subsidies for employment adjustment
Reversal of loss on liquidation of subsidiaries
Gain on reversal of foreign currency translation
adjustment
Total extraordinary income
Extraordinary loss
Impairment loss
Loss on closing of stores
Allowance for absence from work
Loss on liquidation of subsidiaries
Loss on liquidation of brands
Loss on valuation of investment securities

Total income taxes

64

―

―
61

―
―
36

843

407

Net income

1,188

600

Profit attributable to owners of parent

1,188

600

-7-

Consolidated Quarterly Statements of Comprehensive Income
Third Quarter Cumulative(Millions of yen)
Nine-Month Period of the
Fiscal Year Ended
February 28, 2021
(March 1, 2020 toNovember 30, 2020)
Income before minority interests
Other comprehensive income
Other valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of the parent-8-

Nine-Month Period of the
Fiscal Year Ending
February 28, 2022
(March 1, 2021 toNovember 30, 2021)

1,188

600

973
(9)
22
4

230
0
(74)
11

991
2,180

168
769

2,180

769

(3) Notes to Consolidated Quarterly Financial Statements(Notes Regarding Going Concern Assumptions)Not applicable(Notes Regarding Substantial Changes in Shareholders’ Equity)
Not applicable(Changes in the Scope of Consolidation or Application of the Equity Method)
During the subject period, F&A AQUA shanghai, inc. was removed from the scope of consolidation
following liquidation.
(Application of Special Accounting Treatment in the Preparation of the Consolidated Financial
Statements)(Calculation of Tax Expense)
Tax expense has been calculated by rationally estimating the effective tax rate after the application oftax effect accounting for profit before income taxes in the consolidated fiscal year, including the
subject third quarter period, and multiplying this estimated effective tax rate by profit before income
taxes.
(Additional Information)(Stock Compensation Plan for Directors)
Under its 68th annual shareholders meeting held on May 17, 2018, the Company introduced a stockcompensation plan (hereinafter, the “Plan”), with eligible persons the Company’s directors (excluding
directors who are audit and supervisory committee members) and directors who are audit andsupervisory committee members (excluding outside directors), as well as directors and corporate
auditors (excluding outside corporate auditors) of the Company’s major group companies from
November 28, 2018.
i. Summary of the transaction
The Plan is a stock compensation plan to grant the Company’s shares to eligible directors of
eligible companies in accordance with rules for granting trust-based stock compensation tocorporate officers as determined by the eligible companies. The Company will contribute funds
to the trust, and the trust will use these funds to acquire the Company’s shares, and grant them toeligible directors. In principle, directors and other officers will receive the Company’s shares at
the time of retirement.
ii. The Company’s own shares held in the Trust
The Company’s own shares held in the Trust are recorded as treasury stock under net assets attheir book value in the Trust (excluding the amount of ancillary expenses). The book value andnumber of shares of such treasury stock was ¥144 million, for 67,136 shares at the end of theprevious consolidated fiscal year, and ¥168 million, for 83,926 shares at the end of the third
quarter of the subject consolidated fiscal year.
(Accounting Estimates)
There are no significant changes in the assumptions regarding the impact from the COVID-19 virus
or accounting estimates from those presented in the (Additional Information) – (Accounting
Estimates) section of the financial statement for the previous fiscal year.

-9-

(Segment Information)
Ⅰ The nine-month period of the fiscal year ended February 28, 2021
(March 1, 2020 to November 30, 2020)
1. Information Regarding Sales and Income or Loss by Reporting Segment(Millions of yen)
Reporting Segments

Amount recordedon consolidated
quarterlystatements ofincome (Note 2)

Adjustment
amount(Note 1)

Jewelry BusinessApparel Business

Total

13,824

14,49928,323―28,323

0

148

148

(148)

―

Total

13,824

14,64728,472(148)

28,323

Segment income

1,224

929

2,154

(280)

1,874

Net sales
Net sales to outside
customers
Intrasegment net sales andtransfers

Notes:
1. The adjustment amount of minus ¥280 million for segment income mainly includes amortization of goodwill totaling
minus ¥372 million, general administrative expenses that are not attributable to individual reporting segments amounting
to minus ¥406 million and elimination of inter-segment transactions of ¥498 million. Corporate expenses are primarily
general administrative expenses not attributable to reporting segments.
2. Segment income figures have been adjusted to operating income on the consolidated quarterly income statements.

2. Information Regarding Impairment Loss of Fixed Assets, Goodwill and Related Items by
Reporting Segment
There was no major impairment loss recorded during the period under review.

Ⅱ The nine-month period of the fiscal year ending February 28, 2022
(March 1, 2021 to November 30, 2021)
1. Information Regarding Sales and Income or Loss by Reporting Segment(Millions of yen)
Reporting Segments

Amount recordedon consolidated
quarterlystatements ofincome (Note 2)

Adjustment
amount(Note 1)

Jewelry BusinessApparel Business

Total

12,131

15,192

27,323―27,323

0

103

103

(103)

―

Total

12,131

15,29527,427(103)

27,323

Segment income

116

872

988

(292)

695

Net sales
Net sales to outside
customers
Intrasegment net sales andtransfers

Notes:
1. The adjustment amount of minus ¥292 million for segment income mainly includes amortization of goodwill totaling
minus ¥372 million, general administrative expenses that are not attributable to individual reporting segments amounting
to minus ¥358 million and elimination of inter-segment transactions of ¥438 million. Corporate expenses are primarily
general administrative expenses not attributable to reporting segments.
2. Segment income figures have been adjusted to operating income on the consolidated quarterly income statements.

2. Information Regarding Impairment Loss of Fixed Assets, Goodwill and Related Items by
Reporting Segment(Major Impairment Loss Relating to Fixed Assets)
An impairment loss relating to fixed assets was posted in the Jewelry Business segment. The posted value of this
impairment loss during the third quarter cumulative period of the fiscal year under review was ¥153 million.

- 10 -(Important Subsequent Events)
Not applicable- 11 -