YONDOSHI HOLDINGS INC.
First Section, Tokyo Stock Exchange (8008)

Reference Materials
October 9, 20181

1．Jewelry Market Trends
Domestic jewelry retail market projected to stably achieve ¥1,001.7 trillion by 2020
◆ Domestic jewelry retail market rose slightly to ¥946.8 billion, up 0.6% YoY◆ Inbound tourism demand grew steadily with the consumer used jewelry purchasemarket again exhibiting signs of an upward trends in 2017
◆ Market trends expected to remain firm in the leadup to the 2020 Olympic andParalympic Games
Transition and forecast of jewelry retail market size

(Billions of yen)
1,100

1,000

YoY
105.6％

101.1％

2013

2014

103.9％

100.5％

2019(Forecast)

2020(Forecast)

101.3％

99.6％
97.1％

100.6％

2016

2017

900

800

7006002015

2018(Forecast)

Source: Summary of the “Jewelry Market in Japan: Key Research Findings 2018” posted on the Institute’s homepage.

2. YONDOSHI HOLDINGS Group Organization

Jewelry BusinessApparel Business3. Jewelry Business: List of Brands
・Flagship brand largely comprised of jewelry and bags
・Sold mainly through department stores・A specialty bridal brand that is distinguished by its spacious
store layout and unrivalled customer service
・Largely marketed through street-level stores
・A classical-taste brand that harmoniously combines a sense ofsophistication and fun
・Sold mainly through department stores・Casual jewelry brand for everyday use
・Principally marketed through railway station and fashionbuilding stores
・Jewelry brand that emphasizes the importance of personal
relationships and that special person
・Largely sold through suburban shopping centers
・Specialty jeweled purse (bags and small leather items) brand・Principally marketed through departments stores, railwaystations and fashion building stores4. Jewelry Business:
Approach toward Channel Strategies by Brand
Bridal stores

Department
storesRailway station andfashion buildingstores

Regional andsuburban cities

EC Business

The official 4ºC BRIDAL
online site

Bridal jewelry

Fashion jewelry

Bag and purse5. Net Sales by Business (Consolidated)(Millions of yen, %)1H FY 2017 (2017/8)
Actual results

Jewelry businessdomainShare(%)

1H FY 2018 (2018/8)
YoY(%)

Actual results

Share(%)

YoY(%)

13,95762.2－4.0

13,10859.3－6.1

8,46937.8+0.9

8,985

40.7

6.1

5,548

56.8

+6.8

5,696

55.9

2.7

(*2)

4,220

43.2

－3.1

4,500

44.1

6.6

Total

22,427

100.0

－2.2

22,094

100.0

－1.5

(*1)

Apparel businessdomain (*1)(The AS’TY Group)
(*2)

(age)

(*1. Net sales to external customers)(*2. Figures are before accounting for intersegment net sales and transfers; the Apparel Business composition ratio is calculatedusing the simple sum)

6. Overview of Capital Investment as well as
Depreciation and Amortization (Consolidated)
1H FY 2017(2017/8)(Reference)
FY 2017(2018/2)

1H FY 2018 (2018/8)

Amount(Millions of yen)Amount(Millions of yen)

Actual results

Actual results

YoY (%)

Amount(Millions of yen)

Actual results

Capitalinvestment

282

298

105.7

473

Depreciation
andamortization

370

343

92.7

737

Capitalinvestment

601

161

26.8

728

Depreciation
andamortization

166

176

106.0

358

Jewelry BusinessApparel Business7. Overview of Employees (Consolidated)

1H FY2017 (2017/8)

Regular employees(The number in a parenthesis represent
female employees ) (Persons)

1H FY2018 (2018/8)

1,934 (1,637)

1,912 (1,637)

Part-timers (Persons)

759

836

Total (Persons)

2,693

2,748

Ratio of female employees (%)

84.6

85.6

* Ratio of female employees excluding part-time employees.

8. Jewelry Business: Sales by Brand and Product(Millions of yen, %)1H FY2017(2017/8)

FY2017 (2018/2)

Actual results

Actual results

1H FY2018 (2018/8)
Actual results

YoY (%)

4ºC Jewelry

6,318

14,7195,838－7.6

4ºC BRIDAL

2,777

5,492

2,634－5.1

4ºC Total *1

9,096

20,2128,473－6.8

canal4ºC

2,081

4,9262,072－0.4

EAU DOUCE4ºC

360

766291－19.2

MAISON JEWELL

189424217+14.8

Luria 4ºC

822

1,835

829

+0.9

4ºC Bag *229232600EC Business

620

1,643

651+5.0

Overseas・Advance Sales・
Other

498

849

576

+15.7

Total

13,95830,981

13,108－6.1*1 The figures for 4ºC Total represent the sums of the figures for 4ºC and 4ºC BRIDAL.
*2 The 4ºC bag business was closed effective February 2018.

9. Jewelry Business: Number of Customers andAverage Spending per Customer by Brand and Product
1H FY2018 (2018/8)

FY 2017 (2018/2)(Existing stores, %)Number ofcustomers

Average spending
per customer

Number ofcustomers

Average spending
per customer

4ºC Jewelry－5.3－3.6－11.9

5.2

4ºC BRIDAL－8.6

0.6－8.7

1.9

canal4ºC－6.6

3.5－0.7

1.0

EAU DOUCE4ºC

6.1

－8.0

5.3

－7.3

MAISON JEWELL－3.7

2.9－5.0－2.4

Luria 4ºC

－8.9

2.4

－14.5

0.4

10. Jewelry Business : Sales by Store Channel
1H FY2017(2017/8)

1H FY2018 (2018/8)

Actual results(Millions of yen)

Actual results(Millions of yen)

YoY (%)

Share (%)

Roadside stores

248

199－19.8

1.5

Bridal stores

2,621

2,427－7.4

18.5

Fashion buildings

4,147

3,947－4.8

30.1

Department stores

5,825

5,310－8.8

40.5

EC Business

620

651

5.0

5.0

Overseas・Advance Sales・Other

496

574

15.7

4.4

Total

13,957

13,108－6.1

100.0

11. Jewelry Business :Number of Stores Handling Domestic Brands(Stores)

FY 2018 (2019/2)

1H FY2018 (2018/8)

FY 2017 (2018/2)

Forecast

4ºC929291

4ºC BRIDAL

434242

canal4ºC

4848

48

EAU DOUCE4ºC

232322MAISON JEWELL

788

Luria 4ºC

616058

Total

274273269*1 Composite stores that handle multiple brands are recorded as a single store by each individual brand.

12. Apparel Business :The AS’TY Group: Sales by Business Type
1H FY2017(2017/8)

FY2017 (2018/2)

Actual results

Actual results

Actual results

Apparel manufacturing business

3,572

7,026

3,774

5.7

Wholesale business

1,553

3,135

1,445

－7.0

Developer business

423896

477

12.8

Total

5,548

11,0575,696

2.7

1H FY2018 (2018/8)(Millions of yen, %)*1 Figures are before accounting for intersegment net sales and transfers.

YoY (%)

13. Apparel Business :age Co., Ltd.: Sales by Store Type
1H FY2017(2017/8)

FY2017 (2018/2)

Actual results

Actual results

Actual results

PALETTE

4,062

8,338

4,371

7.6

Agency sale of 4ºC brandproducts

152337

139－8.6

Other*1+6－6－10－Total

4,220

8,668

4,500

6.6

1H FY2018 (2018/8)(Millions of yen, %)*1 Other: Including negative point allowance

YoY (%)

14. Apparel Business :age Co., Ltd.: Number of Stores(Stores)

1H FY2018 (2018/8)

FY2017 (2018/2)

FY2018 (2019/2)
ForecastPALETTE

656871

Agency sale of 4ºC brandproducts

171717Total

828588

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in general to the following point of contact:

YONDOSHI HOLDINGS INC.
Corporate Planning Division (Kozuka, Moriyama, Mori)
TEL+81-3-5719-3429
FAX+81-3-5719-3289
E-mail ir-yondoshi@yondoshi.co.jp

Disclaimer: Forecasts and forward-looking statements are based on a wide range of assumptions.
YONDOSHI HOLDINSG INC. takes no responsibility for the accuracy of the information contained inthis document and does not guarantee its validity or outcome. Readers are asked to use this information
with the understanding that actual results may differ materially from estimates and forecasts.