FY02/12 Results Presentation

Contents

Results Overview

Earnings Forecast

Consolidated Results Summary...................3

Acquisition of the Birz Group........................9

TOPICS.............................16

Consolidated Income Statement..................4

Consolidated Forecast Summary...............10

DATA BOOK

Segment Results..........................................5

Consolidated Forecast................................11

Domestic Business Summary....................6-7

Segment Forecasts....................................12

Overseas Business Summary......................8

Domestic Business Plan.......................13-14
Overseas Business Plan............................15© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

FY02/12 Consolidated Results Summary
Sales
Sales

242.4 billion yen(-0.9% YoY and -1.0% vs. forecast)

OperatingOperating
ProfitProfitRecurring
Recurring
ProfitProfit11.0 billion yen(+22.7% YoY and +7.4% vs. forecast)

13.3 billion yen(+27.0% YoY and +14.9% vs. forecast)

1H performance was negatively affected by the Great East Japan Earthquake.
However, full-year profits beat the forecast thanks to aggressive
merchandising and marketing initiatives in 2H and continued efficient costmanagement.
© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

3

FY02/12 Consolidated Income Statement■ Both sales and profits climbed in 2H, offsetting the impact of the earthquake and leading
to a full-year profit increase.
(Million Yen)
1H Results
FY02/122H Results

YoY(% )

FY02/12Full-Year Forecast

Full-Year Result

YoY(% )

FY02/12

FY02/11

YoY (% )FY02/12 Forecast

ChangeYoY (% )Sales

113,693-2.3%

128,7090.4%

242,402244,550-0.9%

244,800-2,398-1.0%

Gross Profit

53,532-1.8%

61,581

0.4%

115,113

115,824-0.6%

116,900-1,787

-1.5%

47.1%

0.3%

47.8%

-0.1%

47.5%

47.4%

0.1%

47.8%

51,933-1.9%

52,227-3.2%

104,160

106,896-2.6%

106,700

45.7%

0.2%

40.6%

-1.5%

43.0%

43.7%

-0.7%

43.6%

1,599

1.9%

9,354

27.1%

10,953

8,928

22.7%

10,200

1.4%

0.1%

7.3%

1.6%

4.5%

3.7%

0.8%

4.2%

2,471

-6.4%

10,85838.2%

13,32910,49727.0%

11,600

2.2%

-0.1%

8.4%

2.3%

5.5%

4.3%

1.2%

4.7%

Gross Profit Margin (%)

SG&A Expenses
SG&A-to-Sales Ratio (%)

Operating Profit
Operating Profit Margin (%)

Recurring Profit
Recurring Profit Margin (%)-0.3%-2,540

-0.6%
753

1,729

26

1,094

486

1,100

-6

Extraordinary Losses

1,319

2,034

3,353

2,431

2,900

453
29

Net Profit Margin (%)-93.5%

3,453

122.3%

3,529

2,722

29.6%

3,500

0.1%

-0.9%

2.7%

1.5%

1.5%

1.1%

0.4%

1.4%

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

14.9%
0.8%

1,068

76

7.4%
0.3%

Extraordinary Gains

Net Income

-2.4%

0.8%
0.1%

4

FY02/12 Segment Results
Simple Aggregate Totals (Before Eliminations)
Sales
Sales
In 2H, sales at both domestic and overseas businesses were
up YoY, almost entirely offsetting the impact from theearthquake.
Gross Profit
Gross Profit□ Onward Kashiyama+0.8% YoY
(FY02/11 48.4% → FY02/12 49.2%)□ Consolidated+0.1% YoY
(FY02/11 47.4% → FY02/12 47.5%)
SG&A Expenses
SG&A Expenses□ Onward Kashiyama-2.9 billion yen YoY(FY02/11 67.2 billion yen → FY02/12 64.3 billion yen)
□ Other DomesticMore efficient cost management
Operating Profit
Operating Profit
While 1H was negatively affected by the earthquake andEurope's financial crisis, both domestic and overseas
performance improved substantially in 2H.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

5

FY02/12 Domestic Business Summary■ Sales213.7 billion yen (-1.9% YoY and -0.5% vs. forecast)■ Operating Profit

13.0 billion yen (+16.9% YoY and +4.6% vs. forecast)

Onward Kashiyama

Sales: 150.0 billion yen (-2.8% YoY)

Operating Profit: 9.5 billion yen (+28.7% YoY)

Quarterly performance trends (period totals vs. previous year)

1H
1H

2H
2H

(－) Store closures and shortened operating hours in March (directly following the earthquake) in the Tohoku and Kanto regions resulted in a negative effect of
3.0 billion yen on sales(＋) Lower royalties for licensed brands and quick recovery of sales of full price items (e.g., “Cool Biz” items) led to improved gross profit margin.
(＋) Improved cost controls across the board, especially in personnel and advertising & promotion, resulting in SG&A expenses 650 million yen under plan.
(－) Increasingly early launch of seasonal sales at competitors and a heat wave led to a slow start for the fall apparel, resulting in decreased Q2 sales.
(＋) Successful introduction of cold weather outerwear led to increased sales of full price items, driving up the gross profit margin.
(＋) Unique products launched under the strategic "Cross-Brand Plan" such as MIRA SHAWL and "Warm Biz" merchandise, delivered strong performance.
(＋) Continued cost controls resulted in 2H SG&A expenses being 500 million yen lower than the plan.
(－) Prolonged and cold winter resulted in a sluggish start for spring apparel sales, leading to lower February sales and ultimately a YoY decrease in Q4 sales.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

6

FY02/12 Domestic Business Summary
Domestic Subsidiaries

Sales: 63.7 billion yen (+0.2% YoY) Operating Profit: 3.5 billion yen (-6.5% YoY)

□ Onward Trading (uniforms, sales promotion goods, etc.)
Sales and profits both decreased as a recovery in the sales promotion business was not enough to offset weak performance of the uniform andcorporate tie-up businesses, affected by the earthquake.

□ Chacott (dancewear and related merchandise)
Sales and profits increased as both the flagship store and e-commerce successfully attracted customers□ Creative Yoko (pet fashion etc.)
While sales were down in the aftermath of the earthquake, spending per customer increased as new brand and product development brought new
merchandise, resulting in an improved gross profit margin and increased profits.

□ Bus Stop (select imported apparel and accessories)
Sales and profits declined as efforts to expand sales (centered on the flagship store) in 2H were not enough to offset the negative impact from theearthquake and start-up losses for newly introduced brands in 1H.

□ Island (women’s apparel, accessories, etc.)
While an aggressive selling strategy and corresponding efforts to carry broader inventory resulted in lower gross profit margins, sales grew in double
digits, resulting in better than planned results for both sales and profits.

□ ACROSS Transport (logistics and transport of apparel)
While the transport business was affected by the earthquake, the company expanded its client base for logistics outsourcing, leading to sales andprofits that were up YoY and above forecast.

□ Onward Creative Center (planning, design, and operation of commercial facilities)
Smaller losses YoY thanks to the launch of a new dental clinic design and construction business that helped to drive a sales recovery in 2H.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

7

FY02/12 Overseas Business Summary■ Sales44.0 billion yen (+5.9% YoY and -1.8% vs. forecast)■ Operating Profit

300 million yen (YoY and -46.6% vs. forecast)

EuropeAsia
US

GIBO’COGIBO’CO

Substantial increase in operating profit of 600 million yen YoY and 300 million yen vs. the forecast as orders from Jil
Sander and other brands increased leading to a strong apparel and shoes wholesale business.

JilJilSander
SanderFurther improvement in gross profit margin due to concentrating production at GIBO'CO. Wholesale performed inline with forecast, while retail failed to meet aggressive sales plan for the new Jil Sander Navy line.

JOSEPHJOSEPH

Despite efforts to refresh the brand image, sales came in below plan as the European retail business failed to recover.

･ Sales and profits were strong in 1H, but growth slowed in 2H as the consumer confidence in China weakened.
･ Started a wholesale business of a new brand developed locally in China.
･ At J. Press, while sales were off slightly, increased sales of full price items led to an improvement in the gross profit
margin and a smaller operating loss YoY.
･ In the resort business, while sales recovered in 2H, it was not enough to offset the effects of the earthquake in 1H that led
to fewer customers from Japan and thus a decrease in sales. As a result, there was a loss for the full year.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

8

Acquisition of the Birz Group
OnwardOnwardannounced
announcedthat
thatititwould
wouldacquireacquireallallsharessharesininthe
thethreethreeBirz
BirzGroupGroupcompanies
companies(Birz(BirzAssociation
AssociationLtd.,
Ltd.,Birth
BirthVillage
Village
Ltd.,
and
NAIMA
Inc.)
on
April
1,
2012
and
make
Birz
Group
a
subsidiary
Ltd., and NAIMA Inc.) on April 1, 2012 and make Birz Group a subsidiary■ What is the Birz Group?
The group focuses on retailing at commercial buildings in train stations and fashion malls across Japan with apparel targeting primarily people in their 20s and 30s. The groupis vertically integrated, handling the design, production, and sales of apparel. It is particularly strong in using overseas factories (e.g., in Vietnam) for production■ Anticipated Synergies
9Strengthens Onward’s presence in young women's brand market.
9Expands Onward's business in train station buildings and fashion malls.
9Provides a flexible, low-cost autonomous production system in Asia

■ Trends in Birz Group results (total for 3 companies)
Financial 2009■

( Billion Yen)
Financial 2011

Financial 2010

(Estimate)

Sales

4.5

4.9

5.2

Operating Profit

0.3

0.2

0.3

Note: As of April 9, 2012, Financial 2011
results were still being calculated, so
estimated figures are shown.

Effect on consolidated results
The consolidated FY02/12 forecast includes expected figures for the Birz Group and LaLa Plan.
The market value at acquisition and the goodwill amortization amount and period will be reported after they have been finalized.

■ Acquisition of LaLa PLAN Co., Ltd. via the Birz Group
Birz Association Ltd. is currently assisting LaLa Plan in its restructuring. All shares of LaLa Plan are scheduled to be acquired by Birz Association Ltd. on May 1, 2012.
About LaLa PLAN Co., Ltd.
Apparel manufacturer that focuses on the design, production, and sale of “Shibuya 109” brands such as LOVE BOAT. (Forecast sales of about 4.6 billion yen in FY02/12)© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

9

FY02/13 Consolidated Forecast Summary
Sales
Sales

266.6 billion yen(+10% YoY)

OperatingOperating
ProfitProfit13.8 billion yen

Recurring
Recurring
ProfitProfit15.4 billion yen(+26.0% YoY)(+15.5% YoY)

Expand sales and profits in Japan and overseas,
moving to a growth phase© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

10

FY02/13 Consolidated Forecast■ In Japan, expanding sales and operating profit at Onward Kashiyama.
Overseas, the European business is expected to grow.
Sales
Sales

Forecast

OperatingOperating
ProfitProfitForecast© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

11

FY02/13 Segment Forecasts
Simple Aggregate Totals (Before Eliminations)

Sales
Sales
□ Onward Kashiyama:
New store openings and refurbished stores expected to add 5.8 billion yen in sales
Comparable store sales planned at +3.0%(no adjustment for last FY’s negative 3.0 billion yen earthquake-related impact)□ New subsidiaries (Birz Group and LaLa Plan):
Full-year sales planned at 8.0 billion yen□ Overseas:
In Europe, expected sales increases of 1.4 billion yen at Jil Sander and 2.0 billion yen
at JOSEPH
Gross Profit
Gross Profit□ Onward Kashiyama:
Gross profit margin +1.1% YoY(FY02/12 49.2% → FY02/13 50.3%)□ New subsidiaries (Birz Group and LaLa Plan):
Full-year gross profit planned at 4.0 billion yen
SG&A Expenses
SG&A Expenses□ Onward Kashiyama:
Forecast increase of 2.8 billion yen in personnel and furnishing expenses related to newstore openings and refurbishments□ New subsidiaries (Birz Group and LaLa Plan):
Full-year SG&A expenses planned at 3.8 billion yen□ Consolidated:
On a comparable consolidated basis (i.e., excluding new subsidiaries) SG&A-to sales
ratio expected to decrease 0.7% YoY
Operating Profit / Recurring Profit
Operating Profit / Recurring Profit

Note: figures for the new subsidiaries (Birz Group and LaLa Plan) are included in the Other Domestic segment.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

□ Overseas:
In Europe, a return to profitably is expected with a 1.5 billion yen increase inrecurring profit due to growth in licensing revenue (Jil Sander, JOSEPH)

12

FY02/13 Domestic Business Plan
■ Sales

235.4 billion yen(+10.2% YoY)

■ Operating Profit

15.5 billion yen(+19.4% YoY)

Onward Kashiyama

Sales: 160.5 billion yen (+7.0% YoY)

Operating profit: 11.1 billion yen (+16.5% YoY)

● Strengthening the “retail brand business”
The
Thesixsixtarget
targetbrands
brands(comprising(comprisingapproximately
approximately10%
10%ofoftotal
totalsales)
sales)will
willtransitiontransitionfrom
fromthetheexisting
existing"branch-office"branch-officesystem"
system"totoa avertically-integrated
vertically-integrated"retail"retailbrand
brandbusinessbusinesssystem"
system"where
wheredesign,design,production,
production,and
andsalessalesarearecarried
carriedout
outonona aper
perbrandbrandbasis.
basis.

■ Grow sales and profits by building a system that allows to swiftly adjust the merchandising mix and store locations according tocustomer needs.
■ Unification of the sales and logistics operations in a plan to streamline the personnel structure and distribution routes.
■ Cultivation of business in train stations, fashion malls, and urban commercial facilities.
Target brands
JOSEPHPaul Smith

TOCCA

BEIGE,

field/dream

OPENING
CEREMONYApparel Categories

Men's, women's, accessories

Women's, accessories

Women's, children's, accessories

Women's, accessories

Men's, women's

Men's, women's, accessories

Full-Year Sales Forecast

4.3 billion yen

4.3 billion yen

1.7 billion yen

400 million yen

3.7 billion yen

900 million yen

YoY(% )

+10%

+5%

+26%

New brand

+18%

+265%

Number of Stores (1H Plan)

66

61

23

4

64

2

Midtow n directly managed store

Aoyama StoreISETAN Shinjuku

Aoyama StoreMATSUYA GINZA

Jiyugaoka StoreSEIBU Shibuya Movida
LUMINE Shinjuku 2Core Stores

SEIBU Shibuya© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

ISETAN Shinjuku

13

FY02/13 Domestic Business Plan
Onward Kashiyama● Retail space openings; refurbishment and closures of existing stores (1H “Rainbow Strategy”)(＋) Openings and refurbishments: 143 stores. Note: including “retail brand business” (26 stores)(－) Closures:
126 stores. Note: including terminated brands (33 stores) and those located in closing department stores (49 stores).
● Continued expansion of the e-commerce business
Targeting increase in sales of 3.5 billion yen (+60% YoY) by bolstering the brand line up and product categories offered on Onward Crosset in addition to improving customer
service.

● Reintroduction of ICB in North America
Debut of ICB NY in North America in Fall/Winter 2012. Unify the design team (Tokyo and New York) in 2014 to further expand ICB as a global strategic brand.

Domestic Subsidiaries

Sales: 74.9 billion yen (+17.6% YoY)

Operating Profit: 4.4 billion yen (+27.2% YoY)

□ Onward Trading (uniforms, sales promotion goods, etc.)
Growth in sales and profits by establishing of local subsidiaries in China to strengthen business in Asia. Growth also to be aided by launching new domestic businesses
and lowering production costs.
□ Chacott (dance wear and costumes)
Strengthening of overseas business (in France, Germany, and the UK) through refurbishment of overseas flagship stores and by working with national ballet groups.
□ Creative Yoko (pet fashion etc.)
Strengthening store presence in new types of retail spaces, such as urban fashion malls and highway rest areas.
□ Bus Stop (select imported apparel and accessories)
Boosting retail operations and development of new lifestyle shops that center on collaboration with various designers□ Island (women’s apparel, accessories, etc.)
Plans to grow domestic sales by opening large-scale stores in Japan, in addition to expanding the overseas business.
□ ACROSS Transport (logistics and transport of apparel)
Drive earnings through adding a new distribution center that allows the company to take on large-scale orders and also through reviewing the current transport network.
□ Onward Creative Center (planning, design, and operation of commercial facilities)
Planned return to profitability for the full year by increasing the design and construction of retail spaces for Onward group companies and expanding new businesses.

© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

14

FY02/13 Overseas Business Plan
■ Sales49.7 billion yen (+13.0% YoY)

■ Operating Profit

1.2 billion yen (+267.2% YoY)

EuropeGIBO’COGIBO’CO・ Further realize group synergies with a focus on Jil Sander Navy・ Expand of wholesale business by strengthening relations with licensers
・ Develop retail business with such new projects as consignment relationships with European department stores

JilJilSander
Sander・ Grow sales by forging Jil Sander Navy into an independent brand・ Start working with local partners to establish the brand’s presence in Asia
・ Boost the gross profit margin by further optimizing manufacturing and sales

JOSEPHJOSEPH・ Expand sales through the development of accessories and a menswear lines
・ Open new retail stores in North America and Europe (planning to open seven stores including standalone storesand retail space within department stores)
・ Expand sales channels with wholesaling and franchise contracts (in the EU, Russia, the Middle East, and Asia)

Asia

・ Further push toward the transition to large-scale stores for youth brand rosebullet
・ Expand the wholesale business of the brand developed locally in China
・ Expand manufacturing in the ASEAN region

US・ Launch a new line, ICB NY, at Barneys New York from Fall/Winter 2012 (in 18 stores)
・ Improve retail (J. Press) profits by growing sales at the flagship store; start the development of a new “NY Line”
・ Work to return the resort business to profitability on the back of recovering market and the strong yen© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

15

TOPICSNew OPENING CEREMONY concept shop opens on thesecond floor of LUMINE Shinjuku 2
Onward Kashiyama Co., Ltd. unveiled the second Japanese new concept store of
OPENING CEREMONY, a fashionable US retail brand, at LUMINE Shinjuku 2 inTokyo.
The store is located on the first and second floors of LUMINE Shinjuku 2 with a
total area of 150 sq. m. The second floor part was opened on March 2, 2012, while
the first floor space is scheduled to open on April 19.
The first floor space is adjacent to the major Shinjuku train terminal and will
introduce a new daily accessories shop targeting the numerous commuters thatpass through the station each day.
On the second floor, popular U.S. brand Elizabeth and James will be featured
along with merchandise made in collaboration with local Japanese brands such as
TOGA and The Dress & Co. HIDEAKI SAKAGUCHI.
The shop will remain true to the spirit of OPENING CEREMONY by offering
womenswear, menswear, and accessories selected for their artistic qualities anduniqueness.
● Address: LUMINE Shinjuku 2, Floors 1&2

3-38-3 Shinjuku, Shinjuku Ward, Tokyo● Floor space: 1F (63 sq. m) and 2F (86 sq. m) Total (149 sq. m)© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

16

DATA BOOK

© Copyright 2007-2011 ONWARD HOLDINGS CO.,LTD.

Sales Results and Forecasts for Main Subsidiaries
Sales for main subsidiaries(Million Yen)

Sales
Main Subsidiaries
Onward HD
Onward Kashiyama

J
a
p
a
n

FY02/12 1H Results

FY02/12 2H Results

FY02/12 Full-Year Results

FY02/13 Full-Year Forecast

AmountYoY(% )

AmountYoY(% )

AmountChangeYoY(% )

AmountChangeYoY(% )

68,455-6.1%

81,5300.1%

149,985-4,331-2.8%

160,500

10,515

7.0%Core company of the group
Manufacturing and sales of menswear, womenswear, childrenswear,
kimonos, etc.

Onward Trading

Manufacturing and sales of uniforms and sales promotion goods

7,434

-2.2%

6,984

-3.9%

14,418

-450

-3.0%

15,000582

4.0%

Chacott

Manufacturing and sales of dancewear and costumes

5,062

-1.0%

5,065

2.6%

10,12779

0.8%

10,650523

5.2%

Creative Yoko

Manufacturing and sales of pet fashion, character accessories, etc.

3,376

-4.0%

4,323

-3.2%

7,699

-284

-3.6%

8,140

441

5.7%

IslandManufacturing and sales of Grace Continental brand

3,875

12.2%

4,313

12.0%

8,188

883

12.1%

8,660

472

5.8%

ACROSS Transport

Logistics and transport of apparel

5,545

2.9%

5,785

0.8%

11,330204

1.8%

11,354

24

0.2%

1,399

-18.6%

1,665

16.3%

3,064

-86

-2.7%

3,500

436

14.2%

Onward Creative Center

O
v
e
r
s
e
a
s

Business Outline

Planning, design, and operation of commercial
facilities

Onward Resort GroupManagement of resort facilities and golf clubs

1,603-17.1%

1,703

5.2%

3,306

-247

-7.0%

3,630

324

9.8%

JosephManufacturing and sales of Joseph brand

4,243

1.0%

4,069

-15.4%

8,312

-699

-7.8%

10,274

1,962

23.6%

7,179

25.9%

7,739

14.6%

14,918

2,464

19.8%

15,686

768

5.1%

4,898

13.6%

4,978

-2.2%

9,876

477

5.1%

11,307

1,431

14.5%

GIBO'COJil SanderOEM, production, and wholesaling of European and American
designer clothing and goods
Manufacturing and sales of Jil Sander brand© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

18

Operating Profit and Recurring Profit of Main Subsidiaries.
Capex and Depreciation Overview
Operating profit / recurring profit for main subsidiaries(Million Yen)

Operating Profit
Main Subsidiaries

J
a
p
a
n

O
v
e
r
s
e
a
s

FY02/12 1H Results

FY02/12 2H Results

AmountAmountYoY(% )

YoY(% )

Recurring Profit

FY02/12 Full-Year Results

FY02/12 1H Results

FY02/12 2H Results

AmountAmountAmountYoY(% )

ChangeYoY(% )

9,525

2,124

28.7%

11,100

1,575

16.5%

2,818

-3.1%

8,475

23.8%

4.8%

710

-222

-23.8%

857

147

20.7%

396

-36.8%

344

284

27.4%

693

74

12.0%

754

61

8.8%

410

5.1%

-8.3%

626

4.3%

725

17

2.4%

782

57

7.9%

109

686

-4.5%

856

12.9%

1,542

66

4.5%

1,625

83

5.4%

ACROSS Transport

66

214.3%

101

71.2%

167

87

108.8%

173

6

3.6%

Onward Creative Center

-33

8

-25

18

25

50

-33

Onward Resort Group

-32

-90

-122

-119

102

224

Joseph-533

89-18.3%

-444

-92

-180

264

GIBO'CO

340

850

53.4%

1,190

605

1,263

73

Jil Sander

-669

70

-599

65

-478

121

Onward HD
Onward Kashiyama

1,819

22.3%

7,706

30.3%

Onward Trading

380-38.4%

330

Chacott

409

3.3%

Creative Yoko

99

Island© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

AmountFY02/13 Full-Year Forecast

103.4%

ChangeYoY(% )

6.1%

YoY(% )

AmountChangeYoY(% )

11,293

1,536

15.7%

12,700

1,407

12.5%

6.5%

740

-210

-22.1%

872

132

17.8%

292

24.3%

702

77

12.3%

769

67

9.5%

-0.9%

526

-13.8%

635-85-11.8%

792

157

24.7%

683

-1.9%

830

25.2%

1,513

154

11.3%

1,590

77

5.1%

70

600.0%

97

70.2%

167

100

149.3%

163

-4

-2.4%

8

-25

18

25

50

-22

-68

-90

-166

73

163

-345

287

64.0%

-58

-53

124

182

909

68.6%

1,281

652

1,279

-2

325

291.6%

-163

231

88

251

-488

313.3%

AmountFY02/13 Full-Year Forecast

Change372

YoY(% )

FY02/12 Full-Year Results

103.7%-0.2%

19

Onward Kashiyama: Results and Forecasts by
Apparel Type and Distribution Channel© Copyright 2007-2012 ONWARD HOLDINGS CO.,LTD.

20

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 judgmentsof 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 priornotice. Onward Holdings and the providers of this information assume no responsibility whatsoever
for any losses incurred in association with this information.