YONDOSHI HOLDINGS INC.
April 12, 2024

(Securities Code: 8008, Prime Market, Tokyo Stock Exchange)

Summary of the Consolidated Financial Resultsfor Fiscal 2023 (Ended February 29, 2024)
・ Operating income and ordinary income rose for a second consecutive year.
・ Jewelry Business: Revenue decline but earnings gain on business restructuring.
・ Apparel Business: Gains in both revenue and earnings on expanded sales for theeveryday fashion brand PALETTE from new store openings, and initiatives byThe AS’TY Group to strengthen measures with major business partners.
・ Full-year dividend for FY2/24 of 83 yen per share.
・ Forecast for FY2/25: Revenue increase, with third consecutive year of earnings
gain.
・ Announced the 7th Medium-Term Management Plan. The Company willcontinue measures to improve return on capital through earnings growthcentered on the Brand Business, and reductions in equity capital.
YONDOSHI HOLDINGS Inc. (“YONDOSHI HOLDINGS” or “the Company”;
Headquarters: Shinagawa-ku, Tokyo; President and Representative Director: Hidetoshi
Masuda) today announced its business results for fiscal 2023, the fiscal year from March
1, 2023, to February 29, 2024. A summary is as follows.
1. Consolidated Business Results(Millions of yen, %)FY2/23

FY2/24

YoYNet Sales

39,50839,457(1.0)%

Operating Income

1,979

2,096+5.9%

Ordinary Income
2,342
2,515+7.4%
Profit Attributable to
1,149
1,300
+13.2%
Owners of Parent
1. Net income per share: ¥60.65 (¥53.61 in previous fiscal year)
2. Average number of issued shares (consolidated basis): 21,444,022 shares
3. Operating income before amortization of goodwill: ¥2,593 million (¥2,476 million in previous fiscal year).

In the retail sector, sales of high-ticket items remained firm, and demand from inboundtourism continued to rise. However, rising prices has led to a decline in real wages, withconsumers continuing to focus on cost savings and lower prices.
As a result, net sales for the subject fiscal year amounted to ¥39,457 million (down
0.1% from the previous fiscal year), with operating income of ¥2,096 million (up 5.9%),
ordinary income of ¥2,515 million (up 7.4%), and profit attributable to owners of parentto ¥1,300 million (up 13.2%).
Head Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/
YONDOSHI HOLDINGS INC. Corporate Planning Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

Jewelry Business
Net Sales:
Operating Income:¥16,995 million¥1,426 million(down 8.6% YoY)
(up 5.1% YoY)

Jewelry business company The F.D.C. Products Group made steady progress withbusiness restructuring. The consolidation of bridal jewelry specialty stores resulted in
improved profitability. For fashion jewelry, the Company pursued measures aimed atbroadening the base of female customers, expansion of e-commerce, and new customer
development.
In terms of store openings and closings, 4 stores were opened, 17 stores were closed,and 11 stores were renovated, for a total of 138 stores at the end of the subject period.
Apparel Business
Net Sales:
Operating Income:¥22, 462 million¥1,046 million(up 7.4% YoY)
(up 11.1% YoY)

Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, recorded ayear-on-year increase in sales at existing stores, which along with a boost from opening
new stores, resulted in revenue gains. In terms of store openings and closings, 10 stores
were opened, and 4 stores were closed, for a total of 99 stores at the end of the subject
period.
Apparel manufacturing and wholesaler The AS’TY Group expanded measures withmajor business partners against the backdrop of the overseas production bases that areits strength, with growth in both revenue and earnings.
2. Full-Year Results Forecast for Fiscal 2024 (FY2/25)(Millions of yen, %)FY2/24(Actual)
Net Sales

39,457

FY2/25(Forecast)
41,000Operating Income

2,096

2,350

Ordinary Income
2,515
2,800
Profit Attributable to
1,300
1,600
Owners of Parent
1. Forecast net income per share: 74.61 yen
2. Average number of issued shares (consolidated basis): 21,444,022 shares
3. Earnings per share (EPS) before goodwill amortization: 97.77 yen

YoY
+3.9%
+12.1%+11.3%+23.0%

Note: The above forecasts have been prepared based on information available as of thedate of this document. Actual results may differ from forecasts due to various
factors, such as future economic conditions.

Head Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, Tokyo
May 1950¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/
YONDOSHI HOLDINGS INC. Corporate Planning Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp

3. Cash Dividends for Fiscal 2023 (FY2/24)(Yen)
Annual Cash Dividend
FY2/23(Actual)
FY2/24(Actual)FY2/24(Forecast)

1Q-End2Q-End3Q-EndPeriod-End

Total

―

41.50

―

41.50

83.00

―

41.50
―

41.50

83.00

YONDOSHI HOLDINGS Group recognizes providing returns to shareholders is an
important management issue. As the basic policy on profit distribution, the Company will
work to enhance the level of total returns through the provision of stable and continuous
dividends and flexible share buybacks, as well as reducing equity capital, aiming to reach
ROE of 8% or higher in the future. The Company has also set a target of DOE of 4% orhigher as an important indicator of shareholder returns, and aims to achieve an annual
dividend of 100 yen per share in the future.
In accordance with this policy, for the fiscal year ending February 29, 2024,
YONDOSHI HOLDINGS plans to pay an interim and year-end cash dividend of 41.50
yen per share, for an annual cash dividend of 83 yen per share, representing a DOE of4.6%.
END

Head Office:Establishment:
Paid-in Capital:
Business Activities:
URL:
Inquiries:

2-19-10 Kami-Osaki, Shinagawa-ku, TokyoMay 1950
¥2,486.52 million
Brand business focusing mainly on jewelry; planning, manufacture and wholesale mainly ofapparel and bags; and retail business
https://yondoshi.co.jp/eng/
YONDOSHI HOLDINGS INC. Corporate Planning Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-4462; e-mail: ir-yondoshi@yondoshi.co.jp