Presentation of Interim Results for the
Fiscal Year Ending February 28, 2010

Kentaro Mizuno
President＜ Outline ＞
Fiscal 2010 First Half Consolidated Performance¾Fiscal 2010 First Half: Consolidated Statements of Income ・・・・・・Ｐ１¾Fiscal 2010 First Half: Consolidated Balance Sheets ・・・・・・・・・・・・ Ｐ２¾Fiscal 2010: Performance and Plans by Geographic Area ・・・・・・・ Ｐ３¾Domestic Apparel-Related Business: First Half Summary ・・・・・・・・Ｐ４～Ｐ５¾Overseas Apparel-Related Business: First Half Summary ・・・・・・・ Ｐ６

Fiscal 2010 Second Half Business Plan
¾Fiscal 2010 Second Half Plan （Consolidated） ・・・・・・・・・・・・・ Ｐ７¾Domestic Apparel-Related Business: Second Half Plans ・・・・・・ Ｐ８～Ｐ１０¾Overseas Apparel-Related Business: Second Half Plans ・・・・・・ Ｐ１１～Ｐ１２¾Onward’s Roles and Responsibilities ・・・・・・・・・・・・・・・・・・・・・・・ Ｐ１３

Principal Financial Indicators

Fiscal 2010: First Half Consolidated PerformanceFiscal 2010: First Half Consolidated Statements of Operations（Unit: ¥ million）

Fiscal 2010
First Half

Fiscal 2009First Half

% change

Net sales

121,821

132,469-10,648 （-8.0％）

Gross profit（Ratio）

55,252

59,916-4,664 （-7.8％）（45.4％）（45.2％）（＋0.2％）

SG&A（Ratio）

54,98953,926（45.1％）（40.7％）

Operatingincome（Ratio）
Ordinary
income（Ratio）
Extraordinary
income（Ratio）
Extraordinaryloss（Ratio）
Net income（Ratio）＋1,063（2.0％）（＋4.4％）

263

5,990

-5,727 （-95.6％）（0.2％）（4.5％）（-4.3％）

1,305

6,825

（1.1％）（5.2％）

2,066

1,157

（1.7％）（0.9％）（＋0.8％）

446

3,947

-3,501 （-88.7％）（0.4％）（3.0％）（-2.6％）

960

2,497

（0.8％）（1.9％）-5,520 （-80.9％）（-4.1％）＋909（78.6%）-1,537 （-61.6％）＜Net Sales＞
・Consumer preference for lower prices amid weak
consumer spending. Change in consumption trends
continues. Existing Group companies, including Onward
Kashiyama, post major sales drops to 84% of the previous
year’s level. Newly consolidated companies add about¥10.6 billion in net sales, but overall decline to 92% of theprevious year’s level.

＜Gross Profit ＞
・Gross profit shows a similar decline as a result of the dropin net sales, but the gross profit ratio of Onward Kashiyama
improves because of reduction in end-of-period inventory
valuation losses through thoroughgoing production
management and other factors. High-margin subsidiaries
also contribute, and profit ratios improve.

＜Selling, General and Administrative (SG&A) Expenses ＞
・Expenses of existing companies were cut by about ¥6.4
billion, mainly in Onward Kashiyama. But expenses of newly
consolidated companies and an increase in write-offs ofgoodwill boost expenses by about ¥7.4 billion. Overall,
expenses rise 2% year on year.

＜Operating Income＞
・A major decline in operating income due to drop of about¥3.0 billion in income of ONWARD KASHIYAMA plus cost
increases in overseas subsidiaries, including Jil Sander,
and an increase in write-off of goodwill.

（-1.1％）

1

Fiscal 2010: First Half Consolidated Balance Sheets（Unit: ¥ million）

Fiscal 2010
First Half

Fiscal 2009First Half

% change

Total assets

286,364

294,545-8,181

Cash and time deposits

26,722

31,030-4,308

Total current assets

92,524

99,898-7,374

Total tangible fixed assets

90,584

92,843-2,259Total intangible fixed assets

48,77826,985

21,793

Total investments and other assets

54,47774,818-20,341

193,840

194,647-807

Accounts and notes payable

32,24038,216-5,976

Short-term loans

34,99325,782

9,211

Current liabilities

81,21583,752-2,537Long-term liabilities

44,105

17,774

26,331

Total liabilities

125,321

101,527

23,794

Total shareholders’ equity

174,292

211,416-37,124

Total valuation andtranslation adjustments-14,840-20,039

5,199

161,043

193,018-31,975

Total fixed assets

Net assets

2

Fiscal 2010: Performance and Plans by Geographic Area
FY2010 First Half Sales (Actual)（Area-wide share）

Japan¥105.3 billion （82％）
Europe¥19.0 billion （15％）

Asia¥2.5 billion （2％）

GIBO’
GIBO’ CO. GroupJOSEPH GroupJIL SANDER Group
Other companies

ONWARD FASHION TRADING(China)SHANGHAI ONWARD FASHION
Other companies

United States¥1.6 billion （1％）

ONWARD HOLDINGSONWARD KASHIYAMAONWARD TRADINGCHACOTTCREATIVE YOKO
BUS STOPACROSS TRANSPORT
Other companies

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

Pro-Forma Sum(Before Eliminations）

Fiscal 2010 First Half (Actual)

Net Sales
Amounts （Change）

Domestic
businesses

105,264 (-12.5%)

Overseasbusinesses

23,127

Total before
eliminations

128,391(8.2%)(-9.3%)

Operating Income
Amounts(Ratio) （Change）
2,722(-49.3%)(2.6%)-1,794()(-7.8%)

928(0.7%)(-84.2%)

Fiscal 2010 Second Half (Planned)
Operating Income
Net Sales
Amounts
Amounts （Change）(Ratio) （Change）
111,637(-8.1%)

21,538(46.2%)

133,175(-2.3%)

4,400(-8.4%)(3.9%)-35()(-0.2%)

4,365(3.3%)(10.5%)

Fiscal 2010 Full Year (Planned)
Operating Income
Net Sales
Amounts
Amounts （Change）(Ratio) （Change）
216,901(-10.3%)

44,665(23.7%)

261,566(-5.9%)

7,122(-30.0%)(3.3%)-1,829 ()(-4.1%)

5,293(2.0%)(-46.1%)

3

Domestic Apparel-Related Business: First Half Summary
Domestic Sales： ¥105.3 billion
ONWARD KASHIYAMA■Pursued thoroughgoing production and cost management as well as efficiency
in the midst of weak market environment
・Eliminated inefficient brands and stores, continued to relocate/expand core
Brand shops to optimal environments
・Worked to reduce end-of-period inventories and valuation losses by thoroughgoingproduction management and prepared for aggressive product policy in second half・Worked to increase efficiency to minimize effects of the decline in sales,
but declines were larger than planned and operating income fell year on year

■Core brand NIJYUSANKU moved to recovery trend・Made progress in relocating stores, improved coordination between
product policies and store management
・Following improvement in quality from first production runs,
aggressively launched core key products after testing market trends
during the period

4Domestic Apparel-Related Business: First Half Summary:
Domestic Sales： ¥105.3 billion
ONWARD TRADING■Steady performance in core uniform and sales promotion goods businesses
・Expansion in school and medical uniform areas within the uniform business,and growth in customers and volume in the sales promotion goods business resulted
in expansion in performance

CHACOTT■Net sales and income at planned levels
・Worked to improve efficiency at core directly managed stores andincreased sales of cosmetics and Internet sales

CREATIVE YOKO
■Expanding trend in merchandise business・Improved efficiency by increasing sales per store through developing foodand health products in the pet-related business as well as through“scrapping and rebuilding” of existing stores

BUS STOP■Changed policy in existing import business and developed new businesses

Daikanyama store of Harness Dog chain

・Existing import business experienced difficulties, but worked on expansion of MMIX thatwas begun during the period

5Overseas Apparel-Related Business: First Half Summary
Europe: Sales of ￥19.0 billion
ＧＩＢＯ’ＣＯ. Group■Improvement in profitability slowed because of major contraction in
the luxury market

ＪＯＳＥＰＨ Group■Overall performance is below planned levels because of delayed
market recovery, but investments in core free-standing stores have brought
an increasing trend in sales of those stores.

ＪＯＳＥＰＨ Old Bond Street store

ＪＩＬ ＳＡＮＤＥＲ Group■Improvement in profitability has been delayed by the adverse impactof the economic downturn, but Onward has begun structural business reforms,
including centralization of the organization, to strengthen the management base.

Asia: Sales of ￥2.5 billion
ONWARD FASHION TRADING (China)■Growth has slowed temporarily in part because of the slowdown in
the economy and operational measures to respond to business conditions.

United States: Sales of ￥1.6 billion

ＪＩＬ ＳＡＮＤＥＲ Paris store

Ｊ. PRESS ＩＮＣ.

■J. PRESS retail sales were below the same period of the previous year, but
Internet business is expanding.

6

Fiscal 2010 Second Half Business PlanFiscal 2010 Second Half Plan (Consolidated)（Unit: ¥ million）
FY2010
Second Half
(Planned)

FY2009Second Half
(Actual)＜Net Sales＞% change

Net sales

125,779

128,536-2,757 （-2.1％）

Gross profit（Ratio）

57,54858,413-865 （-1.5％）（％）（45.4％）（0.4％）（45.8％）

・In view of sales through September and results forthe second half following the impact of the “Lehman
Brothers shock,” ONWARD KASHIYAMA is planningfor sales at 91% of the previous year’ levels. A 1%
increase is expected in sales of other subsidiaries,
and new consolidations will add about ¥5.1 billion,
thus bringing planned sales to 98% of the previous
year’ levels.

＜Gross Profit＞
SG&A（Ratio）
Operatingincome（Ratio）
Ordinary
income（Ratio）
Net income（Ratio）

54,111

55,319（43.0％）（43.0％）（％）-1,208 （-2.1％）
（±0）

3,437

3,094

343 （11.1％）（2.7％）（2.4％）（％）（0.3％）

3,895

-540

4,435 （（3.1％）（-0.4％）（％）（3.5％）

1,040-33,392（0.8％）（-26.0％）34,432 （（26.8％））

・As in the first half, a 0.1% point improvement in the

gross profit ratio is expected at ONWARD KASHIYAMA.
Taking account of new consolidations of high margin
businesses, an overall improvement of 0.4% point is
expected.

＜SG&A Expenses＞
・Plan to reduce expenses of existing companies
about ¥3.5 billion, and new consolidations will add
about ¥2.3 billion in , thus bringing total cuts to about¥1.2 billion.

＜Operating income＞）

・Operating income of ONWARD KASHIYAMA will
drop below the same period of the previous year, but
it will report an improvement of about ¥2.3 billion fromthe first half. Income of subsidiaries, principally thoseoverseas, is expected to improve, and plans call foran overall increase in income in the second half.

7

Domestic Apparel-Related Business: Second Half Plans
ONWARD KASHIYAMA

Pursuit of Brand-Leveraged Management

Pricing that convinces consumers that products are relatively less expensive for their quality

Department Stores■Offering products that are “from Tokyo” that incorporate fashion, quality, and value for price・Develop and test planned products that anticipated consumer needs in ideal shop environment
Combine planning and sales functions in the Tokyo area

■Further relocation and expansion of core brand shops
・Relocate/expand to achieve environment andfloor area ideal for brands
Implemented stores ⇒ Actual for first half/About １２０ shops
Second half plan/About ７０ shops

Planning

Production

Sales

Store Environment
AdvertisingandPromotion

Information

Distribution■Build business that is symbiotic with department store grade products
・ New organization to evolve strengths and functions of both companies
from customer perspective
ONWARD KASHIYAMA ⇒ Product development
Fashion, quality, value for priceDepartment Stores⇒ Sales area development
Top-quality areas, sales power,
service, promotion
・”Devices” and “promotion” that stimulated customers’ purchase drive

Brush up
Initiatives under new
conditions

Propose “value for price” in item strategy ⇒ Limit to stores where Onward’s intent will communicate to customers

Show beauty of legs ⇒ More flattering silhouettes“Stylish pants” campaign

Light, functional outerwear ⇒ Ultra-light down
”Light down” campaign

Initiatives from customers’ perspective with department stores suited to strategy and conditions

8

Domestic Apparel-Related Business: Second Half Plans
Department Stores■Launch new brands◆Offer new value for customersFØRSTE“Lifestyle brand for women in their 20s”
・Open stores in 15 major department stores as originally planned
OPENING CEREMONY“Popular trendy fashion store in the United States”

・Opened first store in Japan as flagship store in the Shibuya district. Offers a new model for
fashion stores.

New Distribution Channels■Expand income through brands for the family, couples, and young people
・Existing brands, principally in shopping centers, move from recovery to expansion
Strengthening item strategy: Trend + function + value for price ⇒ Realize value for priceAggressive “promotional devices” and “product supply” ⇒ Strengthen retail systems■Development of new brands
・Brands that offer lifestyles for the new generation
Fashionable, global, entertaining
Value for price/Extra-large stores■Business expansion targeting urban rail station buildings
and fashion buildings
Implement Onward Group’s business expansion strategy
New business initiatives“OPENING CEREMONY” store located in
Seibu’s MOVIDA wing in Shibuya

Development of new brands
9

Domestic Apparel-Related Business: Second Half Plans
New Distribution Channels■Implement free-standing store strategy
Locate Onward Group flagship stores in urban free-standing sites
Strengthen retail business, communicate directly with customers
IＣＢ Marunouchi store, FØRSTE Daikanyama store
ONWARD KASHIYAMA ⇒(scheduled for this autumn),
NIJYUSANKU store (scheduled for next spring)

MONO EDITION shop in Tokyo’s
Jiyugaoka district

MONO EDITION Jiyugaoka store,
MONO EDITION Shirogane stores

J. DIRECTION⇒CREATIVE YOKO

⇒ HANNARI Shirogane store■Full-scale Internet sales of core brands
・Fully renovate existing websites and begin new e-business this year

“E-business drawing on “Onward’s strengths”

HANNARI Shirogane store

Huge customer base through nationwide store network. Draw on brand awareness

Virtual flagship store concept
Establish flagship store for core brands on the Internet

Pursue synergies with “real shops”
Transmit product and promotional information of existing stores via Internet
and use to attract customers to sales areas

Example of top page design

10Overseas Apparel-Related Business: Second Half Plans
EuropeＧＩＢＯ’ＣＯ. Group■Amplify synergies among Group companies in Europe
Make further use of production platforms, strengthen development, and raise brand value
Promote efficiency and sales expansion, improve profitability

ＪＯＳＥＰＨ Group■Introduce completely re-designed collections to market
to accelerate growth・Full-scale introduction of a collection based on a new brand concept:“Slick and Chic”
・Expand product categories and further expand sales
at renovated core stores

ＪＩＬ ＳＡＮＤＥＲ Group■Complete improvement in management base, move to profitability
in next fiscal year
・Emphasize efficiency and aim to increase profitability
・Expand product category depth by drawing on GIBO’ CO. Groupand improve production efficiency
Knitwear

ERIKA s.r.l.

Footwear

IRIS S.p.A.

Bags

ＪＩＬ ＳＡＮＤＥＲ
2009 Autumn/winter collection

Production by GIBO’ CO. Group
Expand from spring 2010

FRASSINETI s.r.l.

11

Overseas Apparel-Related Business: Second Half Plans
Asia■Chinese market recovering. Continue expansionary policy and pursue new initiatives
Production◆Strengthen/implement own production systems
・Implement low-cost production, work to strengthen local management systems
・Share information (on materials and factories) with planning/production teams
in Japan◆ Develop new brands and create new production systems
ｒｏｓｅｂｕｌｌｅｔ Shanghai Meilong Zhem Isetan

Sales
Existing business⇒New business development ⇒Improve profitability by expanding stores in existing areas andincreasing sales in individual stores
Entry into undeveloped sales areas

In high-growth markets, implement aggressive sales
expansion strategy emphasizing profitability

United States■Expand sales of J. PRESS New York main store and strengthen Internet business
12

Onward’s Roles and Responsibilities
Cultivate “Good Craftsmanship”
Planning/production teams■Further improvement in quality
・Establish top-level quality standards and have industry-leadingplanning teams aim for further improvements in functionality,
comfort, fit, and materials

Designers
Pattern makers■Pursuit of fashion
・Draw on global marketing capabilities based on network of 14 bases
covering seven countries overseas, mainly in Europe

Merchandisers■Development of technology
・Pursue R&D related to next-generation apparel and related technologies
at the Onward Advanced Technology Institute, which has been organized
to include 11 leading companies in the apparel and related industries, including
materials, supplementary materials, sewing machinery, electric appliances,
and apparel.

Implement Environmental Management

About 700
persons

Onward Research Center

This center provides important support of the fashion
business of the Onward Group and comprises the
R&D Center, the Onward Advanced Technology Institute,and the Human Resource Development Center.

■Creation of apparel recycling systems
・Full-scale implementation of the Onward Green Campaign to recover used Onward
apparel at stores and produce textile products from the recycled products■Use recycled textile products to contribute to society
・With the cooperation of UNHCR, donate blankets to help the world’s refugees
・Donate work gloves to Green Saver and other organizations that engage in forest
preservation activities■Step up Onward Group environmental public relations
・Present exhibit at the Eco-Products 2009 event and introduce Group environment-related
activities

Onward Green Campaign
symbol mark13

＜Reference Materials ＞
Principal Financial Indicators

Consolidated Results in Fiscal 2010 (Actual to Date and Planned)（Unit: ¥ million）

First half (Actual)

Second half (Planned)

Full fiscal year (Planned)

FY2010(Actual)

FY2009(Planned)

Change%changeFY2010(Planned)

FY2009(Actual)Change%changeFY2010(Planned)

FY2009(Actual)Change%change121,821

132,469-10,648（-8.0%）

125,779

128,536-2,757（-2.1%）

247,600

261,005-13,405（-5.1%）

55,252

59,916-4,664（-7.8%）

57,54858,413-865（-1.5%）

112,800

118,329-5,529（-4.7%）（Ratio)（45.4%）（45.2%）（0.2%）(45.8%)(45.4%)（0.4%）(45.6%)(45.3%)（0.3%）

SG&A

54,98953,926

1,063

54,111

55,319-1,208109,100

109,245-145（Ratio)（45.1%）（40.7%）（4.4%）(43.0%)(43.0%)（0.0%）(44.1%)(41.9%)（2.2%）

263

5,990-5,727

3,437

3,094

343

3,700

9,084

-5,384（0.2%）（4.5%）（-4.3%）(2.7%)(2.4%)（0.3%）(1.5%)(3.5%)（-2.0%）

Ordinary
income

1,305

6,825

-5,520

3,895

-540

4,435

5,200

6,285

-1,085（Ratio)（1.1%）（5.2%）（-4.1%）(3.1%)(-0.4%)（3.5%）(2.1%)(2.4%)（-0.3%）Net income

960

2,497

-1,5371,040-33,392

34,4322,000-30,895

32,895（Ratio)（0.8%）（1.9%）（-1.1%）(0.8%)(-26.0%)（26.8%）(0.8%)(-11.8%)（12.6%）Net sales
Gross profit

Operatingincome（Ratio)（2.0%）（-95.6%）（-80.9%）（-61.6%）（-2.2%）（11.1%）

（

（

）

）

（-0.1%）（-59.3%）（-17.3%）（）

14

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

First half of FY2010 (Actual)

Amount
ONWARD HOLDINGS +ONWARD KASHIYAMA CO., LTD.

75,478

ONWARD TRADING CO., LTD.

8,994

CHACOTT CO., LTD.

5,242

ACROSS TRANSPORT CO., LTD.

5,537

ONWARD CREATIVE CENTER
CO., LTD.

1,144

ONWARD RESORT Group

1,848

JOSEPH Group

4,608

GIBO’ CO. Group

6,885

Second half of FY2010 (Planned)

Change(Amount)%
Change- 15,024- 1,300- 16.6%- 12.6%82,022

- 332
- 299
- 600
- 874

- 6.0%- 5.1%

4,853- 34.4%- 32.1%- 24.6%- 28.2%- 1,502- 2,709

AmountChange(Amount)%
ChangePlans for FY2010

AmountChange(Amount)%
Change- 9.2%

157,500- 23,331- 12.9%- 14.9%- 6.1%- 8.5%- 12.6%

16,704- 2,647
- 645
- 803

1,670

- 8,307- 1,347
- 313
- 504
- 240

1,550

＋ 473

43.9%

3,398

- 840
- 401

- 13.7%- 6.0%- 6.8%- 23.0%- 10.6%

4,604＋ 1,912

71.0%

9,212

＋ 410

4.7%

6,372

＋ 341

5.7%

13,257- 2,368- 15.2%

7,710
5,439

10,095
10,976
2,814（Unit: ¥ million）＜Operating Income＞

First half of FY2010 (Actual)

AmountChange(Amount)%
ChangeSecond half of FY2010 (Planned)

AmountChange(Amount)%
ChangePlans for FY2010

AmountChange(Amount)%
ChangeONWARD HOLDINGS +ONWARD KASHIYAMA CO., LTD.

1,112

- 2,955- 72.7%

3,388

- 760

- 18.3%4,500- 3,715- 45.2%

ONWARD TRADING CO., LTD.

1,034

＋ 212

25.8%

285

＋ 59

＋ 26.1%

1,319

＋ 271

25.9%

CHACOTT CO., LTD.

401

±0

±0

164

157

＋ 43

37.7%

103

260

- 42
- 23

- 6.9%- 8.1%

ONWARD CREATIVE CENTER
CO., LTD.

- 20.4%- 39.1%565

ACROSS TRANSPORT CO., LTD.

- 42
- 66

- 53
- 37

-4

ONWARD RESORT GroupJOSEPH Group- 695

GIBO’ CO. Group

125

＋ 13

- 380
- 982

- 88.7%

- 32
- 158

＋ 21

- 85

＋ 17

- 13

- 195

±0

15

＋ 469

- 680

＋ 89

169

- 321

- 65.5%294±0- 1,303 - 81.6%
15

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

Consolidated
Non-Consolidated（単位：百万円）

Non-Consolidated

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

8,000
7,000

10,000

6,000

8,000

5,000

6,000

4,000

4,000

3,000
2,000

2,000

1,000

0

0
FY2006

FY2007

FY2008FY2009FY2006FY2010FY2007

FY2008FY2009FY2010＜Depreciation＞＜Capital Investment＞（Unit: ¥ million）
Fiscal2007(Actual)Fiscal2008(Actual)Fiscal2009(Actual)First half offiscal 2010
(Actual)Fiscal
2010(Planned)

8,053

10,506

9,566

3,719

2,372

5,000

7,238

8,046

5,255

2,470

1,238

2,700

Fiscal2006(Actual)Consolidated

NonConsolidated（Unit: ¥ million）
Fiscal2006(Actual)Fiscal2007(Actual)Fiscal2008(Actual)Fiscal2009(Actual)First half offiscal 2010
(Actual)Fiscal
2010(Planned)

Consolidated

7,053

6,697

7,340

5,986

2,809

6,100

NonConsolidated

5,542

4,890

5,109

4,639

1,728

3,600

16

ONWARD KASHIYAMA Sales Floor Area and Monthly Sales＜Sales Floor Area＞（％：change）

Fiscal 2006
(Actual)Department
storesNew
distribution
channels

Fiscal 2007
(Actual)Fiscal 2008
(Actual)Fiscal 2009
(Actual)First half offiscal 2010 (Actual)

Fiscal 2010
(Planned)Sales(¥ million)

139,376

4.0%

148,9116.8%

148,608-0.2%

135,031-9.1%

56,715-15.5%

119,099-11.8%

Sales floor area(㎡)

174,310-0.4%

182,480

4.7%

175,200-4.0%

173,500-1.0%

167,600-3.4%

165,200

-1.4%

Sales
(¥ million)

30,0642.5%

32,1386.9%

33,263

3.5%

32,066-3.6%

13,800-14.2%

28,532-11.0%

Sales floor area(㎡)

92,190

5.4%

95,8303.9%

93,060-2.9%

92,400-0.7%

87,500-5.3%

86,400-1.3%＜Trends in Monthly Sales＞
Fiscal 2010

（％）
Mar.

Apr.

May

June

July

Aug.

First half
total

Men’s

-25

-15

-13

-19

-17

-17

-18

Women’s

-23

-13

-18

-15

-15

-11

-17

Children’s

-14

-10

-3

-3

-12

-17

-12

Kimonos

-17

-15

-4

-22

-23

-21

-19

Other

-15

-4

-10

-13

-8

-16

-11

Total

-23

-13

-16

-16

-15

-12

-17

17

ONWARD KASHIYAMA Sales by Type and Sales by Distribution Channel＜By Apparel Type＞（Unit: ¥ million）

First half of FY2010 (Actual)
Amount% change

Second half of FY2010 (Planned)
Amount% change

Full FY2010 (Planned)
Amount% change

Men’s

17,714-17.8％

18,974-16.9％

36,688-17.3％

Women’s

50,846-16.7％

55,925-6.4％

106,771-11.6％

Children’s

2,984-11.7％

3,344-11.3％

6,328-11.5％

Kimonos

1,366-19.0％

1,215

-6.1％

2,581

-13.4％

Other

2,568

-10.8％

2,564

-4.6％

5,132

-7.8％

Total

75,478-16.6％

82,022-9.2％

157,500-12.9％＜By Distribution Channel＞（Unit: ¥ million）

First half of FY2010 (Actual)
Amount% change

Second half of FY2010 (Planned)
Amount% change

Full FY2010 (Planned)
Amount% change

Department stores

56,715-15.5％

62,384-8.1％

119,099-11.8％New distribution channels

13,800-14.2％

14,732-7.9％

28,532-11.0％

Specialty stores

2,349-15.1％

2,236-17.7％

4,585-16.4％

Chain stores

645-39.6％

610-40.0％

1,255-39.8％

Other

1,969

-43.2％

2,060-23.6％

4,029-34.6％

Total

75,478-16.6％

82,022-9.2％

157,500-12.9％

18

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.