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

Reference Materials
April 10, 20171

1．Jewelry Market Trends
The domestic jewelry retail market in 2020 is projected to achieve ¥1,019.5 billion in 2020.
◆ Domestic jewelry retail market scale in 2016 is estimated to come in at ¥941.3 billion, down 2.9%
compared with the previous year
◆ Inbound tourism demand quietened; bridal jewelry in a contraction phase due to a downturn inthe number of married couples◆ Domestic jewelry retail market on the rise toward Tokyo Olympic/Paralympic Games
Transition and forecast of jewelry retail market size

(Billions of yen)
1,100

1,000

103.9％

YoY
105.6％

101.1％

2013

2014

99.6％

100.2％

103.4％
97.1％

100.7％

900

800

7006002015

2016

2017 (forecast) 2018 (forecast) 2019 (forecast) 2020 (forecast)

Source: Summary of the “Jewelry Market in Japan: Key Research Findings 2017” 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, railway
stations and fashion building stores4. Jewelry Business:
Approach toward Channel Strategies by Brand
Bridal stores

Departmentstores
Railway station andfashion building
storesRegional andsuburban cities

EC Business

The official 4ºC BRIDAL
online site

Bridal jewelry

Fashion jewelry

Bag and purse5. Net Sales by Business (Consolidated)
FY 2013 (2014/2)(Millions ofyen, %)Actualresults

FY 2014 (2015/2)

Share(%)

Actualresults

FY 2015 (2016/2)

Share(%)

Actualresults

FY 2016 (2017/2)

Share(%)

ShareActualresults(%)

Jewelrybusinessdomain26,27753.6

28,53756.3

31,88060.3

33,166

66.6

Apparelbusinessdomain22,72546.4

22,18843.7

21,003

39.7

16,630

33.4(The AS’TYGroup)

9,107

18.6

8,787

17.3

8,375

15.8

8,183

16.4

(age)

7,737

15.8

8,057

15.9

8,116

15.4

8,447

17.0

(MISUZU)
(*1)

5,881

12.0

5,344

10.5

4,511

8.5

――

Total

49,003100.0

50,726100.0

52,833100.0%

49,797100.0%*1 MISUZU Co., Ltd. sold in April 2016

6. Overview of Capital Investment as well as
Depreciation and Amortization (Consolidated)
FY 2014 (2015/2)

FY 2015 (2016/2)

Actual results

Actual results

FY 2016 (2017/2)(Millions of yen, %)Actual results

YoY (%)

Capitalinvestment

1,209

1,000

749

－25.1

Depreciation
andamortization

651

726

797+9.8

Capitalinvestment

466

450

202－55.1

Depreciation
andamortization

450

446

369

－17.2

Jewelry BusinessApparel Business7. Overview of Employees (Consolidated) andboard of directors
FY 2014 (2015/2)
Regular employees(The number in a parenthesis represent
female employees ) (Persons)

FY 2015 (2016/2)

FY 2016 (2017/2)

1,996 (1,661)

2,050 (1,710)

1,862 (1,567)

Part-timers (Persons)

1,021

991

838

Total (Persons)

3,017

3,041

2,700

Ratio of female employees (%)

83.2

83.4

84.2

Percentage of female managers (%)

―

36.0

34.7

Average service years of male
employees (Years)
Average service years of female
employees (Years)

―

15.0

14.8

―

5.5

6.0

* Ratio of female employees excluding part-time employees.

FY 2014 (2015/2)

FY 2015 (2016/2)

FY 2016 (2017/2)

Number of board of directors meetings(Times)

212121

Attendance to the board of directorsmeetings (%)

99.6

98.4

96.3

Number of outside directors (Persons)333

Number of meetings with institutional
investors and analysts (Times)

111

78

79

8. Jewelry Business: Sales by Brand and Product(Millions of yen, %)FY 2014 (2015/2)
Actual results

FY 2015 (2016/2)
Actual results

YoY (%)FY 2016 (2017/2)

YoY (%)

Actual results

YoY (%)

4ºC Jewelry

14,735+4.2

15,732+7.1

15,115－3.9

4ºC BRIDAL

6,299－3.6

7,177+11.6

6,803－5.2

canal4ºC

3,416+19.1

4,338+27.0

4,978+14.8

EAU DOUCE4ºC

478+3.2

546+14.2

710+29.9

RUGIADA*455－15.0304－33.0

217－28.5

MAISON JEWELL

178+79.8

235+32.0

316+34.4

deux et deux*

109+352.9

75

－31.0

55

－21.8

4ºC Bag

918

+18.1

1,054+14.8

1,046－0.7

Luria 4ºC

142―622+337.0

1,248+100.5

EC Business

845+24.6

1,184

+40.0

1,545

+30.5

Overseas・Advance
Sales・Other879+45.0609－30.7

1,130+85.6

Total

28,537+8.631,880+11.7

33,166+4.0* RUGIADA and deux et deux brands terminated operations in February 2017

9. Jewelry Business: Number of Customers andAverage Spending per Customer by Brand and Product(Existingstores, %)FY 2014 (2015/2)
Number ofcustomers

FY 2015 (2016/2)

Averagespending per
customer

Number ofcustomers

FY 2016 (2017/2)

Averagespending percustomer

Number ofcustomers

Averagespending per
customer

4ºC Jewelry+9.7－4.9+9.3－2.7－2.3－2.1

4ºC BRIDAL－8.5－4.5+9.4－1.4－5.6－2.2

canal4ºC+16.8－4.5+8.6－1.7+3.6－0.3

EAU DOUCE4ºC+10.1－1.6+6.2－2.6－0.4－6.0

RUGIADA*－10.7+3.7－7.8+2.2+29.7+4.1

MAISON JEWELL+13.2+9.2+1.7+13.2+14.2+6.4

deux et deux*+100.0－34.7+48.8－21.5－3.2－19.2

4ºC Bag+22.0+1.7－2.2+8.3－12.9+5.8

Luria 4ºC――+11.5+11.3－4.6+5.8* RUGIADA and deux et deux brands terminated operations in February 201710. Jewelry Business : Sales by Store Channel
FY 2014(2015/2)

FY 2015(2016/2)

Actual results

Actual results

Actual results

Roadside stores

1,484

1,339

1,169

3.5－12.7

Bridal stores

5,361

5,888

5,615

16.9－4.6.

Fashion buildings

6,600

8,127

9,595

28.9

+18.1

Department stores

13,36814,733

14,11242.6－4.2

EC Business

845

1,184

1,545

4.7+30.5

Overseas・Advance Sales・
Other879

609

1,130

3.4+85.6

Total

28,53731,88033,166

100.0

+4.0

(Millions of yen, %)FY 2016 (2017/2)
Share (%)

YoY (%)

11. Jewelry Business :Number of Stores Handling Domestic Brands
FY 2014 (2015/2)

FY2015 (2016/2)

FY 2016 (2017/2)

FY 2017 (2018/2)
Forecast4ºC

88939294

4ºC BRIDAL

33363736

canal4ºC

36454849

EAU DOUCE4ºC

8142527

RUGIADA*396――

MAISON JEWELL

4456deux et deux*322――

4ºC Bags

34494913Luria 4ºC

7193364

Total

233

280289289(Stores)*1 Composite stores that handle multiple brands are recorded as a single store by each individual brand.
*2 The number of brand stores that handle 4ºC BRIDAL products as the end of the fiscal year ended February 28, 2017 has
been retroactively adjusted to reflect only bridal specialty stores following the organization of certain stores into specificcategories.
*3 RUGIADA and deux et deux brands terminated operations in February 201712. Apparel Business :The AS’TY Group: Sales by Business TypeFY 2014 (2015/2)

FY 2015 (2016/2)

FY 2016 (2017/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

Apparel manufacturingbusiness

7,724+1.1

6,928－10.3

6,726－2.9Wholesale business

2,853－6.6

2,738+5.1

2,619－4.4

Developer business932－0.4

901－3.0

911+1.1

11,509－1.0

10,568－8.2

10,256－3.0

Total*1 Figures are before accounting for intersegment net sales and transfers.

13. Apparel Business :age Co., Ltd.: Sales by Store TypeFY 2014 (20152)

FY 2015 (2016/2)

FY 2016 (2017/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

PALETTE

6,847+9.0

7,097+3.7

7,438+4.8

Agency sale of 4ºC
brand products

283+19.4363+29.0364+0.3

RAPPORT*1949－10.9918－3.3

1,026+11.8

Other*2264－32.2－18―－18―

Total

8,343+4.68,360+0.2

8,810+5.4*1 RAPPORT closed in February 2017
*2 LOU withdrawn from February 2015 Other: Including negative point allowance14. Apparel Business :age Co., Ltd.: Number of Stores(Stores)

FY2015 (2016/2)

FY 2014 (2015/2)

FY 2016 (2017/2)

FY 2017 (2018/2)
Forecast

PALETTE

60586167

Agency sale of 4ºC brandproducts

16171818

RAPPORT*111――

Total77767985*1 RAPPORT closed in February 2017

We kindly request that you direct all inquiries regarding this document and investor relations
in general to the following point of contact:

YONDOSHI HOLDINGS INC.
Corporate Planning Division (Kozuka)
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.