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

Reference Materials
April 10, 2019

1. Jewelry Market Trends
The domestic jewelry retail market is projected to remain firm reaching ¥999 billion by 2020
◆ The domestic jewelry retail market rose slightly to ¥956.7 billion in 2018, up 1.0% YoY◆ While there was a slump over Christmas, a period of peak demand, owing to such factors as theimpact of natural disasters, inbound tourist demand was robust in 2018
◆ Market trends are projected to remain firm on the back of the upswing in overseas visitors
associated with the Tokyo Olympic and Paralympic Games and expectations of strong andpersistent inbound tourist demand
Transition and forecast of jewelry retail market size

(Billions of yen)
1,100

1,000

YoY
105.6％

101.1％

2013

2014

99.6％

97.1％

100.6％

20162017

103.9％

100.5％

2019(Forecast)

2020(Forecast)

100.1％

900

800

7006002015

2018(Forecast)

Source: Summary of the “Jewelry Market in Japan: Key Research Findings 2019” 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. Net Sales by Business (Consolidated)
FY 2015 (2016/2)(Millions ofyen, %)Actualresults

FY 2016 (2017/2)

Share
(%)

FY 2017 (2018/2)

Share

Actualresults(%)

FY 2018 (2019/2)

Share

Actualresults

(%)

Share

Actualresults(%)

Jewelrybusinessdomain31,88060.3

33,16666.6

30,981

64.5

29,295

62.2

Apparelbusinessdomain21,003

39.7

16,63033.4

17,08035.5

17,822

37.8(The AS’TYGroup)

8,375

15.8

8,183

16.4

8,797

18.3

8,920

18.9

(age)

8,116

15.4

8,447

17.0

8,282

17.2

8,902

18.9

(MISUZU)
(*1)

4,511

8.5

――――

―

―

Total

52,833100.0%

49,797100.0%

48,060100.0%

47,118100.0%*1 MISUZU Co., Ltd. sold in April 2016

5. Overview of Capital Investment as well as
Depreciation and Amortization (Consolidated)
FY 2016 (2017/2)

FY 2017 (2018/2)

Actual results

Actual results

FY 2018 (2019/2)(Millions of yen, %)Actual results

YoY (%)

Capitalinvestment

749

473

462

97.6

Depreciation
andamortization

797

737

704

95.6

Capitalinvestment

202

728

403

55.4

Depreciation
andamortization

369

358

398

111.2

Jewelry BusinessApparel Business6. Overview of Employees (Consolidated) andboard of directors
FY 2016 (2017/2)
Regular employees(The number in a parenthesis represent
female employees ) (Persons)

FY 2017 (2018/2)

FY 2018 (2019/2)

1,862 (1,567)

1,860 (1,568)

1,843 (1,578)

Part-timers (Persons)

838

849

959

Total (Persons)

2,700

2,7092,802

Ratio of female employees (%) *84.2

84.3

85.6

Percentage of female managers (%)

34.7

36.7

30.7

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

14.8

15.0

14.2

6.0

5.7

6.5

* Ratio of female employees excluding part-time employees.

FY 2016 (2017/2)

FY 2017 (2018/2)

FY 2018 (2019/2)

Number of board of directors meetings(Times)

1818

18

Attendance to the board of directors
meetings (%)

83.9

97.5

95.2

Number of outside directors (Persons)324

Number of meetings with institutional
investors and analysts (Times)

7957507. Jewelry Business: Sales by Brand and Product(Millions of yen, %)FY 2016 (2017/2)
Actual results

4ºC Total *1

FY 2017 (2018/2)
Actual results

YoY (%)FY 2018 (2019/2)
Actual results

YoY (%)YoY (%)

21,918－4.3

20,212－7.8

19,097－5.5(4ºC Jewelry)(15,936)－(14,444)－(13,526)－(4ºC BRIDAL
specialty store)(5,982)－(5,768)－(5,570)－canal4ºC

4,978+14.8

4,926－1.1

4,846－1.6

EAU DOUCE4ºC

710+29.9766+7.9

610－23.4

MAISON JEWELL

316+34.4

424+33.9

481+13.5

Luria 4ºC

1,248+100.5

1,835+47.0

1,663－9.4

EC Business

1,545+30.5

1,643+6.3

1,740+3.5

4ºC Bag *2

1,046－0.7

326－68.8――

RUGIADA*3

217－28.5――――

deux et deux*355－21.8

―

―

―

―

Overseas・Advance
Sales・Other

1,130+85.6

849－24.9

858+1.1

Total

33,166+4.030,981－6.6

29,295－5.4*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.
*3 RUGIADA and deux et deux brands terminated operations in February 2017

8. Jewelry Business: Number of Customers andAverage Spending per Customer by Brand and Product(Existingstores, %)FY 2016 (2017/2)
Number ofcustomers

FY 2017 (2018/2)

Averagespending per
customer

Number ofcustomers

FY 2018 (2019/2)

Averagespending per
customer

Number ofcustomers

Averagespending percustomer

4ºC Jewelry－2.3－2.1－5.3－3.6－8.5+3.24ºC BRIDAL－5.6－2.2－8.6+0.6－5.1+1.5

canal4ºC+3.6－0.3－6.6+3.5－2.5+0.7

EAU DOUCE4ºC－0.4－6.0+6.1－8.0－5.8－1.5

MAISON JEWELL+14.2+6.4－3.7+2.9－6.7+2.4

Luria 4ºC－4.6+5.8－8.9+2.4－11.2－3.7

9. Jewelry Business : Sales by Store Channel
FY 2016(2017/2)

FY 2017(2018/2)

Actual results

Actual results

Actual results

Roadside stores

933570476

1.6－16.5

Bridal stores

5,851

5,411

5,144

17.6－4.9Fashion buildings

9,595

9,523

9,008

30.7－5.4

Department stores

14,112

12,984

12,061

41.2－4.8

EC Business

1,545

1,643

1,707

5.8+3.5

Overseas・Advance Sales・
Other

1,130849

899

3.1+5.9

Total

33,16630,98129,295100.0－6.6(Millions of yen, %)FY 2018 (2019/2)
Share (%)

YoY (%)

10. Jewelry Business :Number of Stores Handling Domestic Brands
FY 2016 (2017/2)

FY2017 (2018/2)

FY 2018 (2019/2)

FY 2019 (2020/2)
Forecast

4ºC929292

92

4ºC BRIDAL

37434343

canal4ºC48

484848EAU DOUCE4ºC

25232323

MAISON JEWELL

5778Luria 4ºC

336161584ºC Bags*24900―Total

289274274272(Stores)*1 Composite stores that handle multiple brands are recorded as a single store by each individual brand.
*2 The 4ºC bag business was closed effective February 2018.

11. Apparel Business :The AS’TY Group: Sales by Business TypeFY 2016 (2017/2)

FY 2017 (2018/2)

FY 2018 (2019/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

Apparel manufacturingbusiness

6,726－2.9

7,026+4.5

7,235+3.0

Wholesale business

2,619－4.4

3,135+19.7

2,905－7.3

Developer business

911+1.1896－1.6

956+6.7

10,256－3.0

11,057+7.8

11,096+0.4

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

12. Apparel Business :age Co., Ltd.: Sales by Store TypeFY 2016 (2017/2)

FY 2017 (2018/2)

FY 2018 (2019/2)(Millions of yen, %)Actual results

YoY (%)

Actual results

YoY (%)

Actual results

YoY (%)

PALETTE

7,438+4.8

8,338+12.18,919+7.0

Agency sale of 4ºC
brand products

364+0.3

337－7.5

318－5.5

RAPPORT*1

1,026+11.8――――

Other*2－18―

－6―

－17―

Total

8,810+5.4

8,668

－1.6

9,220+6.4*1 RAPPORT closed in February 2017
*2 Other: Including negative point allowance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, Moriyama, Mori)
TEL+81-3-5719-3274
FAX+81-3-5719-4462
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.