Presentation of Results for the Fiscal Year
Ended February 28, 2009

Kentaro Mizuno
President＜Outline＞
Fiscal 2009 Consolidated Performance¾Fiscal 2009: Consolidated Statements of Income ・・・・・・・・・・・・・・・・ Ｐ１¾Fiscal 2009: Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ Ｐ２¾Fiscal 2009: Performance by Geographic Area ・・・・・・・・・・・・・・・・・・ Ｐ３¾Summary of Domestic Apparel-Related Business ・・・・・・・・・・・・・・・・ Ｐ４¾Summary of Overseas Apparel-Related Business ・・・・・・・・・・・・・・・・・・Ｐ５¾Progress under the Three-Year Medium-Term Management Plan ・・・・・ Ｐ６

Fiscal 2010 Business Plan
¾Fiscal 2010: Operating Plan ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ Ｐ７¾Fiscal 2010: Operating Plan by Geographic Area ・・・・・・・・・・・・・・・・・ Ｐ８¾Basic Management Policy ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ Ｐ９¾Policy for Strengthening Major Core Brands (Priority Measures) ・・・・・ Ｐ１０¾Policy for Strengthening Product Planning (Priority Measures) ・・・・・・ Ｐ１１¾New Brand Development (Priority Measures) ・・・・・・・・・・・・・・・・・・・・・・・・・ Ｐ１２¾Acceleration of Growth Strategy ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ Ｐ１３

Principal Financial Indicators

Fiscal 2009 Consolidated PerformanceFiscal 2009: Consolidated Statements of Income
Net Sales

Consolidated（Unit: ¥ million）

Fiscal 2009

Fiscal 2008

% change

Net sales

261,005

287,032△26,027 （△9.1％）

Gross profit（Ratio）

118,329

130,190△11,861 （△9.1％）（45.3％）（45.4％）（△0.1％）

SG&A（Ratio）

109,245

111,562△2,317 （△2.1％）（41.9％）（38.9％）（＋3.0％）

Operatingincome（Ratio）

9,084

18,628△9,544 （△51.2％）（3.5％）（6.5％）（△3.0％）

Ordinary
income（Ratio）

6,285

24,128△17,843 （△74.0％）（2.4％）（8.4％）（△6.0％）

Extraordinary
income（Ratio）

924

7,422

（0.4％）（2.6％）

37,805

3,654（14.5％）（1.3％）△30,895

12,213（△11.8％）（4.3％）

Extraordinaryloss（Ratio）
Net income（Ratio）△6,498 （（（△16.1％）

Although sales declined due to market stagnation, production
adjustments and inventory reduction made valuation losses on
final inventories reduced, thus the decline in the gross profit ratio
was kept to a minimum.

Selling, General and Administrative Expenses (SG&A)

Among non-operating expenses, the Company reported foreign
currency losses of ¥5.3 billion related to the borrowings ofoverseas subsidiaries.

）

Extraordinary Loss（＋13.2％）△43,108

Gross Profit

Operating Income）（

In overseas businesses, the decline in the value of the U.K. poundand euro had a major impact on performance.

The efficiency of expenditure usage increased through selection
and concentration, however, the substantial decline in sales
caused the ratio of SG&A to sales to rise.

（△2.2％）+34,151

In domestic businesses, reflecting the downturn in economic
conditions, consumers became cautious as they sought to protect
their living standards, and, especially in September 2008 andlater, consumer confidence deteriorated rapidly. Market
conditions in Onward’s core department store distribution channel
stagnated.

）

As a result of the sharp decline in stock prices, the Company
reported losses on its stockholdings of ¥22.6 billion and losses
due to impairment of goodwill amounting to ¥11.5 billion.

1

Fiscal 2009: Consolidated Balance Sheets
Consolidated(Unit: ¥ millions)Fiscal 2009

Fiscal 2008

296,282309,092% change

Cash and Time Deposits
Expenditures related to M&A declined.

Total assets△12,809
Inventories
Inventories rose because of the consolidation of
additional subsidiaries

Cash and time deposits

23,41536,849△13,433

Inventories

33,75833,233525

Total current assets

98,945112,519△13,573

Total tangible fixed assets

90,17495,008△4,833Decline owing to depreciation

50,37425,94324,430Intangible Fixed Assets

56,78875,620△18,832

Increase due to goodwill

197,336

196,572764

Accounts andnotes payable

39,62042,074△2,454

Short-term loans

31,64725,677

5,970

Current liabilities

92,36893,320△952

Long-term liabilities

45,49618,13227,363

Total liabilities

137,864

111,453

26,411

Total shareholders’ equity

178,023

213,625△35,601

Total valuation andtranslation adjustments△21,156△18,768△2,388

197,639△39,221

Total intangible
fixed assets
Total investments
and other assets

Total fixed assets

Net assets

158,418

Tangible Fixed Assets

Investments and Other Assets
Decline owing to valuation losses on investment
securities

Current Liabilities
Decrease in income taxes, etc., payable

Long-Term Liabilities
Increase of ¥26.7 billion in long-termborrowings

Shareholders’ Equity
Decline in retained earnings

2

Fiscal 2009: Performance by Geographic Area
FY2009 Sales (Actual)（Area-wide share）

Japan¥241.8 billion（87％）
Europe¥27.0 billion（10％）

Asia¥5.9 billion（2％)

GIBO’CO. GroupJOSEPH Group
Other companies

ONWARD FASHION TRADING(China)SHANGHAI ONWARD FASHION
Other companies

United States¥3.2 billion （1％）

ONWARD HOLDINGSONWARD KASHIYAMAONWARD TRADINGCHACOTT
BUS STOPACROSS TRANSPORT
Other companies

J. PRESSONWARD BEACH RESORT GUAMONWARD GOLF RESORT GUAM
Other companies（Unit: ¥ million)

Fiscal 2009 First Half (Actual)
Operating Income
Net Sales
AmountAmount （Change）

Domestic
businesses

120,240

Overseasbusinesses

21,369Total before
eliminations

141,609(△6.3%)（Ratio）

5,368

Fiscal 2009 Second Half (Actual)
Operating Income
Net Sales(Change）

Amount（Change）

Amount（Ratio）（Change）

Amount （Change）

Amount（Ratio）（Change）(△11.4%)

121,515(△8.8%)

4,801(△49.1%)

241,755

10,169(△34.3%)511(△47.5%)

14,736 (△37.3%)(2.4%)(△5.8%)

5,879(4.2%)(△7.6%)(4.0%)(4.5%)(△3.0%)

Fiscal 2009 (Full Year) (Actual)
Operating Income
Net Sales△852(4.2%)()

36,105 (△20.7%)(△5.8%)(△16.4%)

136,251 (△13.1%)

3,949(2.9%)△341 ()(△0.9%)(△65.0%)277,860 （△9.5%)

9,828 (△46.4%)(3.5%)

3

Summary of Domestic Apparel-Related Business
Domestic: Sales of ¥241.8 billion
ONWARD KASHIYAMAStagnation in the core department store apparel market
because of the sudden deterioration in consumer confidence
following the “Lehman Shock.”
“NIJYUSANKU” and “JIYUKU”, our major core brands,
attained certain results due to concentration of resources.
ONWARD TRADINGAlthough uniform and sales promotion goods businesses were
influenced in some areas because of the slump in the management
environment in the second half, performance remained
generally firm.
CHACOTT
Profits declined because of the drop in sales in mainstay
directly operated stores.
Expansionary trend in cosmetics and online sales.
BUS STOPSales of core shops decreased because of the impact of
the shrinkage in luxury market.
Began a new sales approach, “MMIX,” handling merchandisethat realize highly fashionable design through collaboration withedgy designers in Japan and overseas and offering suchhigh-quality goods at affordable prices.

“NIJYUSANKU”“MMIX” launched in autumn/winter 20084

Summary of Overseas Apparel-Related Business
Europe: Sales of ￥27.0 billion
ＧＩＢＯ’ＣＯ GroupAs the growth engine for overseas business, we have continued to makenecessary investments and pursue an expansionary strategy.
Orders for fashion-related goods declined along with market stagnationin the latter half of the fiscal year.
ＪＯＳＥＰＨ GroupEstablishment of a new managerial organization and creative team to
implement the Company’s new growth strategy.
Although the retail business held firm in the first half of the fiscal year,“JOSEPH” ’s Westbourne Grove store
sales declined in the second half because of the worsening of market conditions.

Asia: Sales of ￥ 5.9 billion
ONWARD FASHION TRADING (China)

The growth rate in results for the second half slowed,
but performance remained at the planned levels.

United States: Sales of ￥ 3.2 billion
Ｊ. PRESS ＩＮＣ.

Profitability improved along with the concentration on the retail businessand online sales.

“rosebullet” brand apparel on display inShanghai’s Pacific Department Store5

Three-Year Medium-Term Management Plan
Onward Will Implement Active Operating Policies without Changes in Direction,
Even in This Tough Environment
Group Business Policy【 Group corporate expansion strategy 】 【 Realize synergies among businesses】
Expansion of business scale in each business domain

Synergies among Group companies
in Japan and overseas【 Expansion of business domains】【 Contribute to stakeholder value】

M&A and overseas business strategy

Return to shareholders, contribution to society,environmental preservation, high compliance standards

Fiscal 2011
（Unit: ¥ million）

Net sales

350,000

Net income（Ratio）

Operating income（Ratio）

Ordinary income（Ratio）

30,00035,00018,000（8.6％）（10.0％）（5.1％）

ＲＯＥ
8％ or more

6

Fiscal 2010 Business PlanFiscal 2010: Operating Plan
Consolidated（Unit: ¥ million）

FY2010 (Planned)

Net sales

252,600

FY2009 (Actual)

261,005

Net Sales% change△8,405 （△3.2％）

Based on the current status of sales, the Company
is planning for net sales at 90% of the existingtarget.
Sales of ¥16.0 billion will be added due to theconsolidation of JIL SANDER and CREATIVE YOKO.

Gross profit（Ratio）

116,900

118,329（46.3％）（％）（45.3％）

SG&A（Ratio）

108,900

109,245（43.1％）（41.9％）（％）（1.2％）

Operatingincome（Ratio）

8,000

9,084

△1,084 （△11.9％）（3.2％）（3.5％）（％）（△0.3％）△1,429 （△1.2％）（1.0％）

Gross Profit△345 （△0.3％）

Ordinary
income（Ratio）

10,0006,285＋3,715 （ 59.1％ ）（4.0％）（％）（2.4％）（1.6％）Net income（Ratio）

3,600△30,895（1.4％）（△11.8％）＋34,495 （（13.2％）The gross profit ratio will increase because of theimplementation of measures to increase efficiency
of sales activities and the consolidation of
additional subsidiaries with high gross profit ratios.

SG&A
Increase in new expenses of ¥8.8 billion andincrease in goodwill of ¥0.6 billion.

Ordinary Income）

Improvement in non-operating income because ofsmaller foreign currency loss compared with theprevious fiscal year.

7

Fiscal 2010: Operating Plan by Geographic Area
By Geographic Area
(Unit: ¥ million)

FY2010 (Planned)

Domestic
businesses

FY2009 (Actual)

Net Sales

Operating Income

Net Sales

Operating Income

Amounts (Change)

Amounts (Change)

Amounts (Change)

Amounts (Change)

222,287(△8.1%)

9,197(△9.6%)

241,755 ( △7.6% )(4.1%)

Europe38,489

Asia

6,010

United States

3,192( 42.4% )186(

27,036)(△22.5%)(0.5%)( 2.2% )374△297( 10.7% )5,878( △6.9% )47,691

Total before
eliminations

269,978( 32.1% )

263

(

)

3,191

(△26.0%)9,460(3.5%)()

338(△34.6%)

△615

(

)

(

)

(△19.3%)()

36,105 (△20.7%)(0.6%)(△2.8%)△64(5.8%)(△9.3%)

Overseasbusinesses(△34.3%)(△0.2%)(6.2%)( ±0 )

10,169(4.2%)△341(△0.9%)(△3.7%)

277,860 ( △9.5% )

9,828(△46.4%)(3.5%)

8

Basic Management Policy
Managerial Awareness of Current Conditions
Factors in External Environment
Direct hit by global recession

Rising trend toward defending
and maintaining lifestyles

Factors in the Apparel Industry

Arrival of demographicallyaging society in Japan

Excessive “quick responses”

Ineffiency due tooverbuilding of stores

Changes in consumers’ values

Decline in attractivenessbecause oftrend toward sameness

Massive inflow of
low-priced Chinese goods

Market Stagnation

Further change in the structure of consumption
ONWARD’s Mission
To offer highly fashionable, high-quality products that seem inexpensive compared to their value
Basic Management Policy
Proceed with measures to improve management efficiency and aim for higher income,even in the tough environment
Priority Measures

Expansion in sales of individual stores

Concentrate resources in major core brands
Strengthen capabilities for product planningthat anticipates market needs
Launch new brands that provide “something new”
Accelerate growth strategy through M&A andrealization of synergies

9Policy for Strengthening Major Core Brands (Priority Measures)

Thoroughly refurbish and polish our “major core brands” andestablish them as brands with superiority and presence
Differentiated Production

StoresPromotion

Practice new “product-oriented”
production

Enhance our shop environments

Generate interest andattract attention

Expand sales floor area and relocate totop-class areas
Improve our customer service skills
to gain their loyalty

Implement major ad campaigns,
strengthen our brand presence, andcreate customer desire for our brands

Escape from “market-oriented” productionand endeavor to differentiate our offerings
with new “product-oriented” production

Become top brands supported by customers and retailers
Fiscal 2009 Nationwide Department Store Buyers Award

Young
careerdivisionFirst prize to “NIJYUSANKU”(ONWARD KASHIYAMA)
Second prize to “ROPE” (JUN)Third prize to “Untitled” (World)First prize to “JIYUKU”
Missy and (ONWARD KASHIYAMA)
Missesdivision

Second prize to “GIANNI LO GIUDICE” (Itokin)
Third prize to “To Be Chic” (Sanyo Shokai)※These awards are sponsored by Senken Shinbun, the leading fashion newspaper in Japan, and are selected from among brands
that contributed the most to sales of the top 44 department stores nationwide in Japan during the year.

10Policy for Strengthening Product Planning (Priority Measures)
Keywords for Product Development

ModeHigh Quality

Value for pricePursuit of contemporary fashion

Further progress of quality

Value at the right price

Closer involvement than previously in production, such as development of materials

Create products that are fresh, attractive, and excite the customers
Example: Research from the materials stage
Materials are one key element in apparel making.
We will work to differentiate by creating offerings that other apparel company do not have.
t
Autumn/winter 2008
roduc
p
t
i
H
＜“JIYUKU” x Kurabo＞
Sold about 10,000 prices
Compressed jersey dresses

Ratio sold at pre-discount prices: About 90%

Spring/summer 2009＜“JIYUKU” x TORAY＞
“Sillook duet-μ” Blouses＜“NIJYUSANKU” x Kurabo＞
Spima cotton gabardine spring coat

＜Develop materials for several brands with spinning companies＞
Knitwears, cut and sewns, etc.

＜“JIYUKU” x Kurabo compressed jersey dress＞

11

New Brand Development (Priority Measures)
Offering Brands that Give a New Concept Responded toConsumers’ Changing Sense of Values
Department Stores
What do consumer want fromdepartment stores?
What should department store brands be like?

＝

Reliability
Confidence＝ Back to the origins of brand development

・A high degree of originality drawing on the strengths of department stores and manufacturers,
not available from other retail channels
・Pricing that has consumers feel that the items are relatively less expensive for their quality(=department store quality).

Ladies’ brands
Free-standing stores
Next-generation stores that attract attention with the new world view emerging from the United States“OPENING CEREMONY”

A new large-scale street side store will debut this fall.
(About 2,000 ㎡ in floor space)

Shopping centers
Development of brands based on the keywords of“high sensitivity to fashion” and “value for price”

Casual brands

12

Acceleration of Growth Strategy
New Growth Strategies
JOSEPH Group
Actively implement new global strategies.
‧Expand categories by widening ranges of fashion-related goods,
and strengthen general product planning.
‧Implemented major renewal of core street side stores—off to a good start¾London Westbourne Grove store: Reopened after renovation
on February 25, 2009.
(Sales up 41% year on year in March)“JOSEPH”’s Westbourne Grove store¾London Old Bond Street store: Reopened after renovation on March 13, 2009.
(Sales up 9% year on year in March)“JOSEPH”’s
Old Bond Street store

ＪＩＬ ＳＡＮＤＥＲEstablish as a leading world luxury brand.
•Expand sales at individual stores and increase efficiency to raise profitability.

Realizing synergies
ＪＯＳＥＰＨＪＩＬ ＳＡＮＤＥＲ

GIBO’ COCORPORATE

ERIKA

IRIS

FRASSINETI(Apparel manufacturing
and sales)(Apparel manufacturing
and sales)(Knitwear manufacturing)(Shoe manufacturing
and sales)(Bag manufacturing)●●’１０ Ｓ／Ｓ’０９Ａ／Ｗ●’０９Ａ／Ｗ’０９Ａ／ＷJOSEPH Group•Expand production of shoes (from IRIS) and bags (from FRASSINETI).

ＪＩＬ ＳＡＮＤＥＲ
Strengthen product lineup by expanding merchandise categories.
•Begin production of knitwear (from ERIKA), clothing (from CORPORATE), and bags (from FRASSINETI)
from autumn/winter 2009.

•Begin production of shoes (from IRIS) from the spring/summer 2010.

CREATIVE YOKO
•Begin consideration of collaboration with ONWARD’s brands.

13

＜Reference Materials＞
Principal Financial Indicators

Consolidated Results in Fiscal 2009

（Unit: ¥ million）

Second half (Actual)First half (Actual)
Fiscal
2009

Fiscal2008

Change%ChangeFiscal
2009

Fiscal2008

Change132,469

140,836△8,367（△5.9%）

128,536

146,196

59,916

63,252△3,336（△5.3%）

58,413（45.2%）（44.9%）（0.3%）

SG&A

53,92655,845△1,919(Ratio)（40.7%）（39.7%）（1.0%）

Operatingincome

5,990

7,407

△1,417(Ratio)（4.5%）（5.3%）（△0.8%）

Ordinary
income6,825

10,948△4,123(Ratio)（5.2%）Net income

2,497

6,357

(Ratio)（1.9%）Net sales

Full fiscal year (Actual)%
ChangeFiscal
2009

Fiscal2008

Change%Change△17,660 （△12.1%）

261,005

287,032△26,027 （△9.1%）

66,938△8,525 （△12.7%）

118,329

130,190△11,861 （△9.1%)(45.4%)(45.8%)(△0.4%)(45.3%)(45.4%)

55,31955,717△398

109,245

111,562(△0.1%)（△2.
1%）（△2.1%）△2,317(43.0%)(38.1%)(4.9%)(41.9%)(38.9%)(3.0%)

3,094

11,221△8,127 （△72.4%）

9,084

18,628△9,544 （△51.2%)(2.4%)(7.7%)(△5.3%)(3.5%)(6.5%)(△3.0%)△540

13,180△13,720 （6,285

24,128△17,843 （△74.0%）（7.8%） （△2.6%）(△0.4%)(9.0%)(△9.4%)(2.4%)(8.4%)(△6.0%)△3,860（△60.7%） △33,392

5,856△39,248） △30,895

12,213△43,108 （（4.5%） （△2.6%）(△26.0%)(△11.8%)(4.3%)(△16.1%)Gross profit(Ratio)（△3.4%）（△19.1%）（△37.7%）(4.0%) (△30.0%)（△0.7%）

（

）

）

14

Plans for Consolidated Plans in Fiscal 2010

（Unit: ¥ million)

First half (Planned)

Second half (Planned)

FY2010(Planned)

FY2009(Actual)Change%ChangeFY2010(Planned)

FY2009(Actual)124,200

132,469△8,269（△6.2%）

128,400

57,30059,916△2,616（△4.4%）(Ratio)（46.1%）（45.2%）（0.9%）

SG&A

54,30053,926374(Ratio)（43.7%）（40.7%）（3.0%）

3,000

5,990

（2.4%）（4.5%）

3,800

6,825

（3.1%）（5.2%）

1,000

2,497

（0.8%）（1.9%）Net sales

Full fiscal year (Planned)%
ChangeFY2010(Planned)

FY2009(Actual)Change%Change128,536△136 （△0.1%）

252,600

261,005△8,405（△3.2%）

59,60058,4131,187（2.0%）

116,900

118,329△1,429（△1.2%）(46.4%)(45.4%)（1.0%）(46.3%)(45.3%)（1.0%）

54,60055,319△719 （△1.3%）

108,900

109,245△345(42.5%)(43.0%)(△0.5%)(43.1%)(41.9%)（1.2%）△2,990 （△49.9%）

5,000

3,094

1,906

8,000

9,084

（△2.1%）(3.9%)(2.4%)（1.5%）(3.2%)(3.5%) （△0.3%）△3,025 （△44.3%）

6,200

△540

6,740

10,000

6,285

3,715

(4.8%)(△0.4%)（5.2%）(4.0%)(2.4%)（1.6%）

2,600△33,392

35,9923,600△30,895

34,495(2.0%)(△26.0%)（28.0%）(1.4%)(△11.8%)（13.2%）

ChangeGross profit

Operatingincome(Ratio)Ordinary
income(Ratio)Net income(Ratio)（0.7%）（△2.1%）△1,497 （△60.0%）（△1.1%）

（

（

（

）

）

）

（△0.3%）△1,084 （△11.9%）（ 59.1％）（）

15

Results of Principal Consolidated Subsidiaries＜Net Sales＞（Unit: ¥ million)

Full fiscal 2009 (Actual)Plans for full fiscal 2010

First half of FY 2009 (Actual)

Second half of FY 2009 (Actual)

Amountchange%Amountchange%Amountchange%AmountchangeONWARD HOLDINGS+ONWARD KASHIYAMA CO., LTD.

90,502△3,967△4.2%

90,329△12,742△12.4%

180,831△16,709△8.5%

161,400△19,431 △10.7%

ONWARD TRADING CO., LTD

10,294△1,203△10.5%

9,057

△968

△9.7%

10,740△2,171△10.1%

16,908△2,443 △12.6%

CHACOTT CO., LTD

5,574

△138

△2.4%

5,166

△242

△4.5%

19,351

△380

△3.4%

10,120

△620

△5.8%

ACROSS TRANSPORT CO., LTD.

5,836

△130

△2.2%

5,943

＋18

0.3%

11,779

△112

△0.9%

10,978

△801

△6.8%

ONWARD CREATIVE CENTER
CO., LTD.

1,744△2,036△53.9%

1,910

△561

△22.7%

3,654△2,597 △41.5%

3,500

△154

△4.2%

ONWARD RESORT Group

2,722

△514

△15.9%

1,077△1,730△61.6%

3,799△2,244 △37.1%

3,873

＋74

1.9%

JOSEPH Group

6,110△1,275 △17.3%

2,692△4,351△61.8%

8,802△5,626△39.0%

9,300

＋498

5.7%

GIBO’ CO. Group

9,594＋1,006

6,031△3,859△39.0%

15,625△2,853 △15.4%

14,851

△774

△5.0%

＜Operating Income＞

11.7%

%

（Unit: ¥ million)
First half of FY 2009 (Actual)

Second half of FY 2009 (Actual)

Full fiscal 2009 (Actual)

Amountchange%Amountchange%Amount

ONWARD HOLDINGS+ONWARD KASHIYAMA CO.,
LTD.

4,067

△ 681

△14.3%

4,148△4,880△54.1%

8,215△5,561 △40.4%

6,400△ 1,815 △22.1%

ONWARD TRADING CO., LTD

822

△ 40

△4.6%

226

△83

△26.9%

1,048

△123

△10.5%

1,415

＋367

35.0%

CHACOTT CO., LTD

401

△ 23

△5.4%

206

△146

△41.5%

607△169△21.8%

588

△ 19

△3.1%

ACROSS TRANSPORT CO.,
LTD.

114

＋ 46

67.6%

169

＋223

283

＋269

187

△ 96

△33.9%

ONWARD CREATIVE CENTER
CO., LTD.

△49

△ 135

△53

△19

△102

△154

△14

＋88

ONWARD RESORT Group

△50

△ 52

△145

△122

△195

△174

△21

＋174

JOSEPH Group

△315

△ 167

△454

△822

△769

△989

△251

＋518

GIBO’ CO. Group

1,107

△ 188

490

△1,122

1,597△1,310 △45.1%

1,339

△ 258

△14.5%△69.6%

change%Plans for full fiscal 2010
Amountchange%△16.2%

16

Trends in Capital Investment and Depreciation＜Capital Investment＞＜Depreciation＞

Non-Consolidated
Consolidated（単位：百万円）

Non-Consolidated

12,000Consolidated（単位：百万円）（Unit: ¥ million)（Unit: ¥ million)

8,000
7,000

10,0008,000

NonConsolidated

6,000

Consolidated

6,000
5,000
4,000
3,000

4,000

2,000

2,000

1,000

0

0

FY2005

FY2006

FY2007

FY2008FY2005

FY2009＜Capital Investment＞

FY2006

FY2007

FY2008FY2009＜ Depreciation ＞（Unit: ¥ million)Cons
olidated
NonCons
olidated

Fiscal2005(Actual)Fiscal2006(Actual)Fiscal2007(Actual)Fiscal2008(Actual)Fiscal2009(Actual)Fiscal
2010(Planned)

9,076

8,053

10,506

9,566

3,719

5,200

8,280

7,238

8,046

5,255

2,470

3,000

（Unit: ¥ million)Cons
olidated
NonCons
olidated

Fiscal2005(Actual)Fiscal2006(Actual)Fiscal2007(Actual)Fiscal2008(Actual)Fiscal2009(Actual)Fiscal
2010(Planned)

7,041

7,053

6,697

7,340

5,986

6,100

5,353

5,542

4,890

5,109

4,639

4,500

17

ONWARD KASHIYAMA Sales Floor Area and Monthly Sales＜Sales Floor Area＞
Fiscal 2005
(Actual)Fiscal 2007
(Actual)Fiscal 2008
(Actual)Fiscal 2009
(Actual)Fiscal 2010
(Planned)Sales(¥ million)

133,973

6.3%

139,376

4.0%

148,9116.8%

148,608△0.2%

135,031△9.1%

120,000△11.1%

Sales floor area(㎡)

175,000

10.8%

174,310△0.4%

182,480

4.7%

175,200△4.0%

173,500△1.0%

168,700

△2.8%

Sales
(¥ million)

29,31814.0%

30,0642.5%

32,1386.9%

33,263

3.5%

32,066△3.6%

30,190△5.9%

Sales floor area(㎡)

87,47019.1%

92,190

5.4%

95,8303.9%

93,060△2.9%

92,400△0.7%

88,600△4.1%

Department
storesNew
Distribution
channels

Fiscal 2006
(Actual)＜Trends in Monthly Sales＞
Fiscal
2009

Mar.

Apr.

Men’s

12

△5

Women’s

6Children’s

(%)
June

July

Aug.

First
half

Sep.

△7

△13

△10

△10

△5

△5

△8

△13

△2

△1

△2

△6

△8

△15

△4

Kimonos

△7

△21

14

△14

Other

△1

△5

2

Total

6

△5

△7

May

Oct.

Nov.

Dec.

Jan.

Feb.

Secon
d half

Total

△7

△10

△11

△13

△10

△20

△18

△12

△4

△6

△10

△10

△11

△13

△16

△10

△7

△3

△6

△12

△13

△7

△4

△2

△8

△8

△7

△17

2

△10

△12

△10

△28

3

△3

±0

△4

△8

△3

△7

8

△1

△7

△8

△15

△15

△7

△13

△14

△8

△13

△5

△1

△4

△6

△10

△10

△11

△12

△16

△12

△8

18

ONWARD KASHIYAMA Sales by Type and Sales by Distribution Channel＜By Apparel Type＞
First half of FY 2009 (Actual)
Amount% change

Second half of FY 2009 (Actual)
Amount% change

Full fiscal 2009 (Actual)
Amount% change

Men’s

21,541△5.4％

22,845△17.9％

44,386△12.3％

Women’s

61,017△3.6％

59,732△10.4％

120,749△7.1％

Children’s

3,379

△6.3％

3,771

△7.8％

7,150

△7.1％

Kimonos

1,686△10.2％

1,294

△4.4％

2,980

△7.7％

Other

2,879

△1.4％

2,687

△13.8％

5,566

△7.8％

Total

90,502△4.2％

90,329△12.4％

180,831△8.5％＜ By Distribution Channel ＞
First half of FY 2009 (Actual)
Amount% change

Second half of FY 2009 (Actual)
Amount% change

Full fiscal 2009 (Actual)
Amount% change

Department stores

67,121△4.6％

67,910△13.2％

135,031△9.1％

New distribution
channels

16,077

1.3％

15,989△8.1％

32,066△3.6％

Specialty stores

2,768

△9.1％

2,718

△8.6％

5,486

△8.8％

Chain stores

1,067△15.7％

1,017△23.6％

2,084△19.8％

Other

3,469

△12.2％

2,695△13.2％

6,164△12.6％

Total

90,502△4.2％

90,329△12.4％

180,831△8.5％

19

The information in this presentation is not a solicitation to purchase or sell
Onward Holdings stock. Opinions, forecasts and other statements not based on
historical facts represent the judgments of the company at the time this presentation
was prepared. Onward Holdings makes no guarantee regarding the accuracy of
the information in this presentation and may make revisions without prior notice.
Onward Holdings and the providers of this information assume no responsibility
whatsoever for any losses incurred in association with this information.