CONSOLIDATED FINANCIAL REPORT（Japanese GAAP）
NINE-MONTH PERIOD OF THE FISCAL YEAR ENDINGFEBRUARY 28, 2014
(March 1, 2013 to November 30, 2013)
January 7, 2014
YONDOSHI HOLDINGS INC. is listed on the First Section of the Tokyo Stock Exchange under the securities code
number 8008.
Representative:

Hidenori Suzuki, President and Representative Director

Inquiries:

Masahiko Nishimura, Director and General Manager Operations Dept.

Tel: +81-3-5719-3429
URL: http://www.yondoshi.co.jp/
Quarterly Securities Report filing date (planned): January 14, 2014
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 Nine-Month Period of Fiscal 2013
(March 1, 2013 to November 30, 2013)(1) Consolidated Operating Results (Cumulative)(Percentage figures are the increase / (decrease) for the corresponding period of the previous fiscal year.)
Operating Revenues
Operating Income
Ordinary Income
Net Income

FY2013Nine-Month Period
FY2012Nine-Month Period

Millions of yen％

35,4590.3

34,360

4.3％

Millions of yen％

Millions of yen

％

2,987

5.3

3,525

9.3

2,004

36.9

2,837

34.2

3,225

39.5

1,464

33.0

Millions of yen

Note: Comprehensive income FY2013 Nine-Month Period: 2,494 million yen (78.9%)
FY2012 Nine-Month Period: 1,394 million yen (43.5%)
Net Income
per Share

Net Income per
Share after Dilution
Yen

FY2013Nine-Month Period
FY2012Nine-Month Period

Yen

73.33

73.23

53.40

—

(2) Consolidated Financial Position
Total Assets

Net Assets

Net Assets to Total
AssetsNet Assets per Share%Yen

Millions of yen

Millions of yen

November 30, 2013

58,111

43,08574.1

1,572.40

February 28, 201353,295

41,10677.1

1,509.31(Reference)
Shareholders’ equity: November 30, 2013: 43,071 million yen

February 28, 2013: 41,086 million yen

2. Dividends
Dividends per Share
(Record Date)

End of 1Q

End of 2Q
Yen

End of 3Q
Yen

AnnualYear-end
Yen

Yen

Fiscal 2012
—
10.50
—
11.50
Fiscal 2013—
12.50
Fiscal 2014
17.50
(Forecast)
Note: Revision to dividend forecast for the third quarter of the fiscal year ending February 28, 2014: Yes
Breakdown of period-end cash dividend for the fiscal year ending February 2014:
Ordinary cash dividend: ¥12.50 Special cash dividend: ¥5.00

22.00

-1-

Yen

30.00

3. Forecasts of Consolidated Operating Results for the Fiscal Year Ending February 28, 2014
(March 1, 2013 to February 28, 2014)(% figures for the full fiscal year represent year-on-year increase or decrease)
Net Income
Operating Income
Ordinary Income
Net Income
per Share

Net Sales
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

Fiscal year
ending50,0003.7
4,750 10.7
5,400 10.6
3,050
9.5
111.57
February 28,2014
Note: Revisions to consolidated operating forecasts for the third quarter of the fiscal year ending February 28, 2014: No

Notes(1) Changes in Important Subsidiaries during the Period: No(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: No(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: Yes
2) Changes of accounting principles other than 1) above: No
3) Changes in accounting estimates: Yes
4) Retrospective restatement: No
Note: These are subject to Article 10-5 of the Ordinance on Terminology, Forms and Preparation
Methods of Quarterly Financial Statements. For more detailed information, please see thesection “2. Summary Information (Notes)” on page 5.
(4) Number of Shares Issued and Outstanding (Common Stock)
1. Total number of shares issued and outstanding (including treasury stock) as of theperiod-end:
November 30, 2013: 29,331,356 sharesFeb. 28, 2013: 29,331,356 shares
2. Total number of treasury stock as of the period-end:
November 30, 2013: 1,939,003 sharesFeb. 28, 2013: 2,109,450 shares
3. Average number of shares for the period (Cumulative total for the quarterly consolidated
period)FY2013 Nine-Month Period: 27,337,307 shares FY2012 Nine-Month Period: 27,426,420 shares
Note: The number of recorded treasury stock is inclusive of 175,100 of the Company’s shares
held by the Yondoshi Holdings Employees’ Shareholding Association Trust Account as ofthe end of the quarterly period.
Regarding the Status of Quarterly Review Procedure Implementation
This financial report for the nine-month period of fiscal 2013 is not subject to the quarterly review
procedures stipulated in the Financial Instruments and Exchange Act of Japan. As of the date of disclosureof this report, the review procedures for the quarterly financial statements under the Financial Instruments
and Exchange Act had not been completed.
Explanation concerning the Proper Use of Operating Results Forecasts and Other Relevant Specific Items
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 of currently
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, please refer to “Qualitative
Information Regarding Forecasts of Consolidated Business Results” on page 5.

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Contents
1.

2.

Qualitative Information Regarding Consolidated Quarterly Business Results

4(1)

Qualitative Information Regarding Consolidated Operating Results

4(2)

Qualitative Information Regarding Consolidated Financial Position

5(3)

Qualitative Information Regarding Forecasts of Consolidated Business Results5

Summary Information (Notes)

5(1)Changes in Important Subsidiaries During the Period

5(2)Application of Special Accounting Practices in the Preparation of the Quarterly

5

Consolidated Financial Statements(3)
3.

Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements

5Consolidated Quarterly Financial Statements

6(1)

Consolidated Quarterly Balance Sheets

6(2)

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of

8Comprehensive Income
Consolidated Quarterly Statements of Income

Third Quarter Cumulative

Consolidated Quarterly Statements of Comprehensive Income

Third Quarter Cumulative

8
9

(3)

Notes Regarding Going Concern Assumptions

10

(4)

Notes Regarding Substantial Changes in Shareholders’ Equity

10

(5)

Segment Information

10

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1. Qualitative Information Regarding Consolidated Quarterly Business Results(1) Qualitative Information Regarding Consolidated Operating Results
During the third quarter cumulative period of the fiscal year ending February 28, 2014 (March 1 toNovember 30, 2013), the outlook for the Japanese economy remained clouded as a result of such factors
as the weak European economy, and sluggish growth in developing countries. However, signs ofrecovery gradually appeared, including improvement in corporate earnings amid corrections to thestrong yen and rising stock prices, attributable to favorable reactions to the government’s economic
measures and financial policies.
In the retail industry, sales of high-priced items were positive as a result of the wealth effect andother factors, though business conditions remained harsh overall as personal consumption fell short of afull-fledged recovery.
Under these circumstances, for fiscal 2013, the second year of its third medium-term management
plan, the YONDOSHI HOLDINGS Group took steps to enhance its corporate value, including
practicing CSR-based management to become a highly trusted corporate group, strengthening internal
controls, providing returns to shareholders, and making longer term investments linked to earnings
growth.
As a result, for the third quarter cumulative period, operating revenues amounted to ¥34,459
million (up 0.3% year on year), with operating income of ¥2,987 million (up 5.3%), ordinary income of¥3,525 million (up 9.3%), and net income of ¥2,004 million (up 36.9%).
Operating income, ordinary income, and net income all reached record highs for the third quarter
cumulative period.
Note: Operating revenues are the sum total of net sales and other operating revenues.
Operating results by business segment were as follows.
The F.D.C. Products GroupThe F.D.C. Products group posted an increase in sales and a considerable rise in operating income fromthe same period of the previous fiscal year, due mainly to positive performance at existing locations ofmainstay 4°C brand jewelry stores and other outlets, along with an aggressive expansion program for
4°C BRIDAL and canal 4°C stores.
As a result, segment operating revenues amounted to ¥17,187 million (up 4.6% from the same
period of the previous fiscal year), with operating income of ¥2,622 million (up 11.8%).
The AS’TY GroupThe AS’TY group strengthened its project planning capabilities in the apparel manufacturing business,and took steps to enhance marketing activities, but sales and operating income both declined from thesame period of the previous fiscal year as a result of the impact from the weak yen and other factors.
As a result, segment operating revenues amounted to ¥7,187 million (down 8.8% from the same
period of the previous fiscal year), with operating income of ¥495 million (down 14.8%).
MISUZUMISUZU Co., Ltd. conducted proactive sales promotion campaigns, and took steps to enhance productplanning, but sales and operating income both declined from the same period of the previous fiscal year
as a result of such factors as a decline in average spending per customer, and sluggish performance at
new stores.
As a result, segment operating revenues amounted to ¥4,321 million (down 3.6% from the same
period of the previous fiscal year), with an operating loss of ¥69 million (compared to operating incomeof ¥64 million a year earlier).

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age
age Co., Ltd. posted increases in both sales and operating income from the same period of the previous
fiscal year, due mainly to strenuous efforts at existing locations of the company’s mainstay everyday
fashion brand PALLET, along with expanded sales resulting from new store openings.
As a result, segment operating revenues amounted to ¥5,763 million (up 3.5% from the same
period of the previous fiscal year), with operating income of ¥116 million (up 2.9%).
(2) Qualitative Information Regarding Consolidated Financial Position
Total assets at the end of the subject third quarter cumulative period (November 30, 2013) amounted to¥58,111 million, an increase of ¥4,816 million from the end of the previous fiscal year (February 28,2013). This was due mainly to increases of ¥2,221 million in merchandise and finished goods; ¥1,178
million in notes and accounts receivable―trade; and ¥921 million in short-term investment securities.
Total liabilities amounted to ¥15,026 million, an increase of ¥2,837 million from the end of theprevious fiscal year. This was due mainly to an increase of ¥1,798 million in notes and accounts
payable— trade.
Total net assets at the end of the subject period amounted to ¥43,085 million, an increase of ¥1,978
million from the end of the previous fiscal year. This was due mainly to an increase of ¥1,293 million
in retained earnings.
(3) Qualitative Information Regarding Forecasts of Consolidated Business Results
Earnings forecasts are unchanged from those announced on April 15, 2013.
2. Summary Information (Notes)(1) Changes in Important Subsidiaries during the Period
Not applicable(2) Application of Special Accounting Practices in the Preparation of the Quarterly Consolidated
Financial Statements
Not applicable(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements(Changes in Accounting Policies Difficult to Distinguish from Changes in Accounting Estimates)
In accordance with revisions to the Corporation Tax Act of Japan, YONDOSHI HOLDINGS and its
domestic consolidated subsidiaries have changed their accounting policies for property and equipment
acquired on or after March 1, 2013 to the depreciation method based on the revised Corporation Tax
Act effective from the first quarter of fiscal 2013.
The impact of this change on profit and loss for the nine-month period of fiscal 2013 is minimal.

-5-3. Consolidated Quarterly Financial Statements(1) Consolidated Quarterly Balance Sheets(Thousands of yen)

ASSETS
Current assets:
Cash and deposits
Notes and accounts receivable ― trade
Short-term investment securities
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
Total property, plant and equipment

End of the Fiscal Year Ended
February 28, 2013
(As of February 28, 2013)

End of the Third Quarter of
the Fiscal Year Ending
February 28, 2014
(As of November 30, 2013)

521,769
3,149,372
1,590,000
5,842,888
447,256
464,404
979,526(216)

660,423
4,327,928
1,980,000
8,064,159
454,436555,555
996,785(4,527)

12,995,001

17,034,762

5,389,917
5,617,629
678,445

5,531,403
5,549,208
754,086

11,685,992

11,834,697

Intangible assets:
Goodwill
Other intangible assets

6,726,954
624,005

6,330,437
705,109

Total intangible assets

7,350,959

7,035,546

14,803,392
1,998,224
5,045,991(584,093)

15,724,424
2,058,644
5,005,327(581,875)

Investments and other assets:
Investment securities
Prepaid pension cost
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets-6-

21,263,515

22,206,521

40,300,467

41,076,765

53,295,468

58,111,527

５．
（要約）四半期連結財務諸表(Thousands of yen)

LIABILITIESCurrent liabilities:
Notes and accounts payable ― trade
Income taxes payable
Provision for bonuses
Provision for directors' bonuses
Other
Total current liabilities
Noncurrent liabilities:
Long-term loans payable
Provision for retirement benefits
Provision for directors' retirement benefits
Asset retirement obligations
Other
Total noncurrent liabilities

End of the Fiscal Year Ended
February 28, 2013
(As of February 28, 2013)

End of the Third Quarter of
the Fiscal Year Ending
February 28, 2014
(As of November 30, 2013)

3,810,018
855,113553,077
59,4502,895,275

5,608,522
503,412496,346
47,836
3,917,175

8,172,934

10,573,292

243,160
540,621
380,602845,241
2,006,268

198,400
548,989
326,808
926,4632,452,129

4,015,894

4,452,789

Total liabilities

12,188,829

15,026,081

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

2,486,520
18,300,303
21,891,593(1,670,933)

2,486,520
18,322,104
23,185,015(1,521,780)

41,007,484

42,471,861

352,470
16,070(264,512)(25,239)807,368
12,550(233,476)
13,360Total shareholders’ equity
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
Total other accumulated comprehensive income
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets-7-

78,789599,80219,195
1,171

13,782

41,106,639

43,085,445

53,295,468

58,111,527―

(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements ofComprehensive Income
Consolidated Quarterly Statements of Income
Third Quarter Cumulative(Thousands of yen)
Nine-Month Period of the
Fiscal Year Ended
February 28, 2013
(March 1, 2012 toNovember 30, 2012)

Nine-Month Period of the
Fiscal Year Ending
February 28, 2014
(March 1, 2013 toNovember 30, 2013)

Net sales
Cost of Sales

33,629,791
15,397,806

33,812,711
15,220,378

Gross profit

18,231,985

18,592,332

Other operating revenue

730,730

646,989

Operating gross profit

18,962,715

19,239,322

Selling, general and administrative expenses

16,125,494

16,252,305

Operating income

2,837,221

2,987,016

Foreign exchange gains
Other

1,495
42,865236,22166,172
19,74449,5486,564
45,891
371,168
73,752
14,312
39,462

Total non-operating income

416,047

551,152

11,152
4,405
4,689
7,714

2,492
1,925
4,576
4,139

Non-operating income
Interest income
Dividends received
Equity in earnings of affiliates
Rent of real estate for investment

Non-operating expenses
Interest expenses
Loss on insurance cancellation
Depreciation of real estate for investment
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investments in real estates
Gain on sales of golf club membership
Gain on sales of investment securities
Foregift income
Refund of consumer taxes for prior periods
Extraordinary loss
Loss on retirement of noncurrent assets
Loss on valuation of investment securities
Impairment loss
Loss on closing of stores
Demolition expenses
Loss on valuation of golf club membership
Loss on withdrawal from employees’ pension fund27,961

13,1353,225,306

3,525,033

77,915――

12,163
21,9741,500

244
14,000――92,15935,6384,036
149,225
155,425
9,935
18,00023,004
183,983――
96,808
1,762

―
―
―

Total extraordinary losses

543,611

98,571

Net income before income taxes

2,773,855

3,462,100

981,110
328,550

1,062,532
394,868

Total income taxes

1,309,661

1,457,401

Income before minority interests

1,464,194

2,004,699

Income taxes ― current
Income taxes ― deferred

Minority interests in income (loss)
Net income

-8-

(263)

(0)

1,464,457

2,004,700

Consolidated Quarterly Statements of Comprehensive Income
Third Quarter Cumulative(Thousands of yen)
Nine-Month Period of the
Fiscal Year Ended
February 28, 2013
(March 1, 2012 toNovember 30, 2012)
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
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests-9-Nine-Month Period of the
Fiscal Year Ending
February 28, 2014
(March 1, 2013 toNovember 30, 2013)

1,464,194

2,004,699(20,575)(5,563)(6,233)381,903(2,369)38,599(37,568)

71,843(69,941)
1,394,252

489,977
2,494,676

1,394,515(263)

2,494,677(0)

(3) Notes Regarding Going Concern Assumptions
Not applicable(4) Notes Regarding Substantial Changes in Shareholders’ Equity
Not applicable(5) Segment Information
Ⅰ The nine-month period of the fiscal year ended February 28, 2013
(March 1, 2012 to November 30, 2012)
1. Information Regarding Sales and Income or Loss by Reporting Segment(Thousands of yen)
Adjustment
amount(Note 1)

Amountrecorded on
consolidated
quarterlystatements
of income(Note 2)

34,360,522―

34,360,522

134,176

1,300,469(1,300,469)―

4,522,883

5,700,818

35,660,991(1,300,469)

34,360,522

64,231

113,252

3,105,467(268,246)

2,837,221

Reporting Segments
F.D.C.
Products
group

AS’TY
group

MISUZUage

Total

16,429,578

7,880,200

4,484,101

5,566,641

30,4781,097,032

38,782

Total

16,460,056

8,977,232

Segment income

2,345,822

582,160

Operating revenues
Operating revenues tooutside customers
Intrasegment operating
revenues and transfers

Notes:
1. The adjustment amount of minus ¥268,246 thousand for segment income mainly includes corporate expenses that are
not allocated to individual reporting segments. 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, 2014
(March 1, 2013 to November 30, 2013)
1. Information Regarding Sales and Income or Loss by Reporting Segment(Thousands of yen)
Adjustment
amount(Note 1)

Amountrecorded on
consolidated
quarterlystatements
of income(Note 2)

34,459,700―

34,459,700

155,980

1,289,113(1,289,113)―

4,338,640

5,919,474

35,748,813(1,289,113)

34,459,700(69,535)

116,529

3,165,287(178,270)

2,987,016

Reporting Segments
F.D.C.
Products
group

AS’TY
group

MISUZUage

Total

17,187,935

7,187,167

4,321,103

5,763,493

28,927

1,086,667

17,536

17,216,863

8,273,835

2,622,456

495,836

Operating revenues
Operating revenues tooutside customers
Intrasegment operating
revenues and transfers
Total
Segment income or loss

Notes:
1. The adjustment amount of minus ¥178,270 thousand for segment income or loss mainly includes corporate expenses
that are not allocated to individual reporting segments. Corporate expenses are primarily general administrative
expenses not attributable to reporting segments.
2. Segment income or loss figures have been adjusted to operating income on the consolidated quarterly income
statements.

- 10 -

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.

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