YONDOSHI HOLDINGS INC.
July 7, 2021

(Securities Code: 8008, First Section, Tokyo Stock Exchange)

Summary of the Consolidated Financial Reportfor the First Quarter of Fiscal 2021 (Ending February 28, 2022)
・ Consolidated revenue and earnings rose significantly on positive performancein the Apparel Business.
・ The Jewelry Business had a revenue gain, as the areas subject to a state ofemergency during the period were limited. However, earnings decreased
significantly on a rebound increase in personnel costs, a portion of which had
been subject to an extraordinary loss in the same period of the previous fiscalyear.
・ The Apparel Business recorded gains in revenue and earnings on positive
performance for the everyday fashion brand PALETTE, along with measures
including business efficiency improvements at the apparel manufacturingbusiness.
・ Results forecasts for the second quarter cumulative and full year periods ofFiscal 2021 have been revised to reflect the effects of the third State ofEmergency declaration. Year-on-year gains in revenue and earnings areexpected for the full-year period.
・ The forecast dividend for Fiscal 2021 is an increase of two yen to 83 yen per
share. The Company maintains its commitment to continued dividend growth,and plans to increase the cash dividend amount for an eleventh consecutiveperiod.
YONDOSHI HOLDINGS INC. (“YONDOSHI HOLDINGS” or “the Company”;
Headquarters: Shinagawa-ku, Tokyo; Chairman and Representative Director, CEO:Saishi Kimura) announced today its business results for the first quarter period of fiscal
2021 (March 1, 2021 to May 31, 2021), the fiscal year ending February 28, 2022. The
summary of these results is as follows.
1. Consolidated Business Results(Millions of yen, %)Fiscal 2020 1Q
Net Sales
Operating Income

Fiscal 2021 1Q

YoY

7,850

8,717

+11.0%

225321+42.6%

Ordinary Income
356499+40.2%
Profit Attributable to132
258+95.3%
Owners of Parent
1. Net income per share for the subject period was ¥12.08 (¥6.11 for the previous fiscal year).
2. The average number of issued shares for the period (consolidated basis) was 21,420,267 shares.
3. Operating income before the amortization of goodwill was ¥445 million (¥349 million in theprevious fiscal year).
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. Finance Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp

In the retail industry, the outlook remains unclear, with business conditions overall
affected by the government’s call for people to remain at home, as well as businesssuspensions and shortened operating hours at stores. In addition, consumer spending hasslowed as a result of further cooling off in consumer sentiment amid the worsening
employment and income situation. Under such circumstances, during fiscal 2021, theinitial year of the sixth medium-term management plan, YONDOSHI HOLDINGS Grouppursued priority measures in each business with the aim of enhancing its enterprise value.
As a result, net sales for the subject first quarter period amounted to ¥8,717 million(up 11.0% from the same period of the previous fiscal year), with operating income of¥321 million (up 42.6%), ordinary income of ¥499 million (up 40.2%) and profit
attributable to owners of parent to ¥258 million (up 95.3%).
Operating Results by Business Segment
Jewelry Business
Net Sales:
Operating Income:¥3,764 million¥85 million(up 10.3% YoY)
(down 43.6% YoY)

The F.D.C. Products Group, in response to the state of emergency that continued during
the subject first quarter period, implemented wide-ranging store closures and shortened
operating hours. However, compared to the same period of the previous fiscal year thearea subject to these measures were limited, resulting in a year-on-year rise in sales.
Apparel Business
Net Sales:
Operating Income:¥4,953 million¥349 million(up 11.6% YoY)
(up 80.4% YoY)

Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, achieved
increases in net sales and operating income on the effect of new store openings, anexpanded product range, and strengthening of sales promotion strategies. The AS’TYGroup continued efforts to improve operational efficiency amid scaled back events andsluggish demand due to the COVID-19 situation, achieving results that exceeded plan.
2. Forecasts for Second Quarter Cumulative and Full Year Periods of Fiscal 2021
Second Quarter Cumulative(Millions of yen, %)Fiscal 2020
2Q Cumulative(Actual)

Fiscal 2021
2Q Cumulative

Fiscal 2021
2Q Cumulative(Initial Forecast)(Revised Forecast)

Net Sales

17,98019,500Operating Income

1,043

Ordinary Income
Profit Attributableto Owners of Parent

vs. Plan

YoY

18,000(7.7)%

+0.1%

1,250

500

(60.0)%(52.1)%

1,283

1,500

800

(46.7)%(37.7)%

603950300(68.4)%(50.3)%

1. Forecast net income per share for the FY 2021 2Q cumulative period: ¥14.01
2. Average number of issued shares (consolidated basis): 21,420,267 shares
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. Finance Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp

Full Year

(Millions of yen, %)Fiscal 2020(Actual)

Fiscal 2021

Fiscal 2021

(Initial Forecast)(Revised Forecast)vs. Plan

YoYNet Sales

39,44942,00040,500(3.5)%+2.7%

Operating Income

2,767

3,350

2,800(16.4)%+1.2%

Ordinary Income

3,195

3,700

3,300(10.8)%+3.3%

Profit Attributableto Owners of Parent

1,622

2,500

2,200(12.0)%+35.6%

1. Forecast net income per share for FY 2021: ¥102.71
2. Average number of issued shares during FY 2021 (consolidated basis): 21,420,267 shares
3. EPS before the amortization of goodwill: ¥125.89

Results forecasts for FY2/22 announced on April 12, 2021, were premised on theassumption that since the second State of Emergency issued on January 7, 2021, was lifted
on March 21, 2021, that for the present business conditions would gradually improve,
despite still being subject to the effects of the COVID-19 crisis.
However, a renewed outbreak in mid-April led to a sudden increase in reported
coronavirus cases, and on April 25, 2021, Japan’s government issued a third State ofEmergency in areas where infections were rising. As a result, the mainstay Jewelry
Business suffered a sharp decline in customer traffic, with operations suspended at up to65 stores.
In consideration of these factors, the Company has revised its results forecast for thesecond quarter cumulative and full year periods of Fiscal 2/22.
Of note, the revised full-year forecasts are for year-on-year gains in revenue andearnings.
Note: Forecasts are based on available information as of the disclosure date for this material.
Actual results may vary from forecast figures as a result of economic conditions or avariety of other factors.

3. Cash Dividends for Fiscal 2021
(Yen)
Annual Cash Dividend
Fiscal 2020
(Actual)Fiscal 2021
(Forecast)

1Q-End2Q-End3Q-EndPeriod-End

Total

―

40.50

―

40.50

81.00

―

41.50

―

41.50

83.00

YONDOSHI HOLDINGS Group recognizes that providing returns to shareholders is an
important management issue. The Company has set as its basic policy for profit sharing
the raising of the level of shareholder returns through such means as a stable andcontinuous cash dividend payment, and flexible share buybacks. The Company also
maintains an adherence to continuous dividend increases, aiming to reach 100 yen per
share in the future.
Regarding the dividend forecast for fiscal 2021, in order to realize an increase in the
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. Finance Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp

level of shareholder returns as per the above policy, the Company plans to pay a full year
dividend of 83 yen per share, comprising an interim dividend of 41.5 yen, and a year-end
dividend of 41.5 yen. This represents an eleventh consecutive fiscal year of dividend
increase.
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. Finance Department
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp