YONDOSHI HOLDINGS INC.
October 12, 2020

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

Summary of the Consolidated Financial Reportfor the First Half of Fiscal 2020 (Ending February 28, 2021)
・ In the consolidated operating results for the first half of the fiscal year ending
February 28, 2021, revenue and earnings declined due to the impact of novel
coronavirus (COVID-19) infections but exceeded the forecast announced on
July 8.
・ In the Jewelry Business, revenue and earnings declined due to stores
suspending their business operations, but the segment remained in the black.
Following the lifting of the state of emergency, sales were on a recovery trend
due to the resumption of store operations.
・ In the Apparel Business, in addition to the mainstay everyday fashion brand
PALETTE performing well, successful efforts to reduce costs led to thesegment achieving the highest levels for net sales and operating income in its
history.
・ The consolidated operating results for the full fiscal year are expected to be inline with plans.
・ With regard to the annual dividend for the fiscal year ending February 2021,
YONDOSHI HOLDINGS is planning a 10th consecutive fiscal year ofdividend growth, thereby adhering to its commitment to continuous dividend
increases. Repurchase of the Company’s own shares up to a maximum of
300,000 shares.
YONDOSHI HOLDINGS INC. (“YONDOSHI HOLDINGS” or “the Company”;
Headquarters: Shinagawa-ku, Tokyo; Chairman and Representative Director, CEO:Saishi Kimura) announced today its consolidated operating results for the first half periodof fiscal 2020 (March 1, 2020, to August 31, 2020), the fiscal year ending February 28,
2021. The summary of these results is as follows.
1. Consolidated Business Results(Millions of yen, %)Fiscal 2019 1H

Fiscal 2020 1H

YoYNet Sales

21,925

17,980(18.0)％

Operating Income

2,1951,043(52.5)％

Ordinary Income
2,370
1,283(45.8)％
Profit Attributable to1,484603(59.4)％
Owners of Parent
1. Net income per share for the subject period was ¥27.79 (¥66.10 for the previous fiscal year).
2. The average number of issued shares for the period (consolidated basis) was 21,703,708 shares.
3. Operating income before the amortization of goodwill was ¥1,291 million (¥2,443 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. President Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp

In the retail industry, in addition to the impact of the government’s call for people toremain at home, as well as business suspensions and shortened operating hours at stores,
the worsening employment and income environments that continued to emerge after theend of the state of emergency led to fears of a further cooling off in consumer sentiment.
Therefore, the outlook for the economy remained extremely severe and clouded. Under
these circumstances, the YONDOSHI HOLDINGS Group has been working on thepriority issues for each business with the aim of increasing corporate value in fiscal 2020,
the final year of its fifth medium-term management plan.
As a result, net sales for the first half of the fiscal year under review amounted to¥17,980 million (down 18.0% from the same period of the previous fiscal year), operating
income amounted to ¥1,043 million (down 52.5%), ordinary income amounted to ¥1,283
million (down 45.8%), and profit attributable to owners of parent amounted to ¥603
million (down 59.4%). Even in a difficult business environment, the Group was able tosecure profits in both its Jewelry Business and Apparel Business.
Jewelry Business
Net Sales:¥8,534 million (down 32.6% YoY)
Operating Income:¥686 million (down 62.2% YoY)
The F.D.C. Products Group fully implemented measures to help prevent the spread of
COVID-19, including suspending business operations and shortening operating hours atstores from late March. Although the government continued to call for people to remain
at home even after the end of the state of emergency, net sales from stores underwent arecovery as the Group transitioned to regular operations in stages.
Apparel BusinessNet Sales:¥9,445 million(up 2.1% YoY)
Operating Income:¥567 million(up 15.8% YoY)
The Apparel Business recorded increased revenue and earnings. The AS’TY Group madeefforts to maintain the supply chain by increasing the number of local staff at overseas
production sites. The Group also improved operating income over the same period of theprevious fiscal year by focusing on cost reductions. Retailer age Co., Ltd. focused on
business operations for its mainstay everyday fashion brand PALETTE to fulfill its roleas part of the social infrastructure supporting the lives of local customers. Due to theseefforts, existing stores underwent substantial growth while stores that were newly openedin line with the current period plan also trended positively, leading both net sales andoperating income to achieve their highest levels in history.
2. Forecasts for Full-Year Period of Fiscal 2020
(Millions of yen, %)Fiscal 2019
(Actual)Net Sales
Operating Income

44,970
3,975
4,312

Fiscal 2020
(Forecast)

39,000
2,900
3,300

YoY

(13.3)%(27.1)%(23.5)%

Ordinary Income
Profit attributable to2,475
2,000(19.2)%
owners of parent
1. Forecast net income per share for FY 2020: ¥92.152. Average number of issued shares during FY 2020 (consolidated basis): 21,703,709 shares

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. President Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp

The consolidated earnings forecast for the fiscal year ending February 2021 remains
unchanged from the figures announced on July 8, 2020.
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.

END

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. President Office
TEL: +81-3-5719-3295; FAX: +81-3-5719-3296; e-mail: ir-yondoshi@yondoshi.co.jp