FY3/2021 Financial Resultsand New Medium-term Management Plan
“Aoyama Reborn 2023”(Stock Exchange Code 8219)© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

2© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

Director, Managing Executive Officer andGeneral Manager of Group Management Div.,Manager of General Planning and Policy
Dept.

Koichi Yamane

3© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Summary of Business Segments
Business Wear Business

Operates 849 stores nationwide, including Yofuku-no-Aoyama and THE SUIT COMPANY(as of the end of March 2021)
This segment also includes Blue Rivers Co., Ltd., Eisho Co., Ltd., MDS Co., Ltd., FUKURYO
Co., Ltd. and Aoyama Suits (Shanghai) Co., Ltd.

Credit Card Business(Aoyama Capital Co., Ltd.)This business issues and manages the Aoyama Card and other credit cards while seeking toobtain new customers, thus supporting efficient sales promotion in our Business Wear
Business (the number of valid members stood at 4.22 million as of February 28, 2021).

Printing and Media Business(ASCON Co., Ltd.)This business provides sales promotion support to customers nationwide, mainly including
retail distributors. This business supports Yofuku-no-Aoyama operations through sales
promotion activities involving newspaper insert flyers and direct mailing (intra-company
transactions account for approximately 20% of overall transactions in this segment).

Sundry Sales Business(Seigo Co., Ltd.)This business operates a total of 111 100-yen shops of Daiso (as of February 28, 2021).
Supports the Business Wear Business using former Yofuku-no-Aoyama store buildings andspaces to deliver subleasing services.

Comprehensive Repair Service
Business

This business provides comprehensive repair services, including shoe repair and key
duplication mainly in Japan, Australia, and New Zealand under the brand of Mister Minit.

Food Service Business(glob Co., Ltd.)This business operates 38 Yakiniku King stores and 13 Yuzu-an stores as a franchise of The
Monogatari Corporation (as of the end of March 2021).

Other

Casual Wear Business: Leviʼs Stores(Minit Asia Pacific Co., Ltd.)* From the fiscal year ending March 2022, theReuse Business and the Fitness Business,
which were included in Other, were merged into the Food Service
Business, which was renamed the Franchisee Business.

Casual Business of Aoyama Trading Co., Ltd.
Reuse Business of Aoyama Trading Co., Ltd.
WTW Co., Ltd.
Other Business of glob Co., Ltd.
CustomLife Co., Ltd.

* On March 1, 2021, SYG Inc. was absorbed by CustomLife
Co., Ltd. and dissolved as a result of the merger.

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

*The franchise contract with Levi Strauss Japan Ltd. was terminated as of March 31, 2021.

Reuse Business: Operates 16 2nd STREET and Jumble Store outlet stores in total (as of theend of March 2021)
WTW Co., Ltd.: Operates six WTW stores of sundry and interior goods (as of the end of
March 2021)
Other Business of glob Co., Ltd.: Operates four Anytime Fitness studios (as of the end of
March 2021)
CustomLife Co., Ltd.: Operates owned media CustomLife

4

FY3/2021 Consolidated Earnings[Unit: 100 million yen]
Major Factor of YoY
ChangeFY3/2021

YoY (%)Net Sales

1,614

▲562

74.1

See the next page

Gross Profit

800

▲352

69.4

Business Wear Business ▲3.6Pt(Sales Ratio)(49.6%)(▲3.4Pt)(%)(―)

Business Wear Business▲13,200 million yen
Excluding Business Wear
Business ▲6,000 million yen

Expenses

944

▲200

82.5

Operating
Income

▲144

▲152

―

See the next page

Ordinary
Income

▲114

▲129

―

―

―

Deferred income taxes 6,500
million yen
Extraordinary loss: See page 10

Net Income(Note) Rounded down to the nearest unit.
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

▲388

▲219

5

FY3/2021 Segment Performance[Unit: 100 million yen]
FY3/2021

YoY (%)(%)

Net Sales

Operating
IncomeNet Sales

Operating
IncomeNet Sales

Operating
Income

1,098

▲157

▲434

▲160

71.7

―

Credit Card Business

48

20

▲4

▲1

92.3

92.8

Printing and MediaBusiness

115

▲3

▲8

▲3

92.8

―

Sundry Sales
Business

164

6

8

0

105.2

110.1

Comprehensive Repair
Service Business

91

▲7

▲30

▲2

75.3

―

Food Service Business

91

1

▲10

▲3

89.9

31.4

Other

37

▲5

▲88

19

29.9

―

▲33

0

5

0

―

74.8

1,614

▲144

▲562

▲152

74.1

―

Business Wear
Business

Adjustments
Total(Note) Rounded down to the nearest unit.
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

6

FY3/2021 Sales of Business Wear Business• Largely affected by temporary store closures and short-hour operations under the state of emergency
issued twice due to the COVID-19 pandemic• The earnings forecast was announced in November. Despite a certain degree of recovery thanks toseasonal demand in March, failed to achieve the plan.
Sales of existing stores%

120

Number of customers at existing stores

Average sale per customer at existing stores

Sept
Decreased due to therebound from consumption
tax hike in the previous year

Apr to May
State of emergency
issued (1)Jan to Mar
State of emergency
issued (2)

90
60

June
Signs of settling down
End of July to Aug
Resurgence

30

1Q

2Q

Mar
Recovery ofseasonal
demandFrom the end of
Nov
Resurgence

Plan 92%=> Actual 89.1%

3Q

Plan 109%=> Actual 90.5%

4Q

Unit: %

2nd-half Full-year
plan
plan
81%
102%
2nd
Full
Mar
half
year

Apr

May

June

July

Aug

Sept

1st
half

Oct

Nov

Dec

Jan

Feb

Sales

31.7

42.2

65.2

70.8

67.0

58.7

54.4

98.8

93.5

76.8

68.8

76.3

118.7

89.9

73.8

Number ofcustomers

41.2

57.5

93.9

98.1

91.2

73.6

75.0

103.9

97.4

91.0

72.3

77.4

115.8

92.9

84.1

Averagesale percustomer

76.9

73.4

69.4

72.2

73.5

79.8

72.5

95.1

96.0

84.4

95.1

98.6

102.5

96.8

87.8

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

7

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

8© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Restructuring business wear businessCost
structure
optimization

Rebranding
Customeroriented
management

Progress in Structural Reforms, etc.
Sustainable management

In addition to the closure of unprofitable stores to optimize the cost structure, we will conduct
structural reforms centered on further consolidating stores and employeesʼ voluntary retirement,
expecting a positive impact of about 5 billion yen in FY3/2022

Consolidated or closed
unprofitable stores

Voluntary retirement

159 stores including alreadyselected ones

609 employees

FY3/2022 reform effects: About 5 billion yen
Other initiatives to optimize cost structure••••

Further rent reduction negotiations for stores other than those merged orconsolidated
Streamlined operations by increasing digi-lab stores (98 stores as of the end of
March 2021)
Introduced customer service terminals at all stores to simplify settlement
operations
Withdrew from the Leviʼs business9© AOYAMA TRADING Co., Ltd. All Rights Reserved.

FY3/2021 Consolidated Extraordinary Loss•

The performance of the suits and formal wear business, our core market area,
shrank further due to the COVID-19 crisis, which weighed down corporate
earnings. We reviewed the business plan and the asset status and implemented
structural reforms, recording an extraordinary loss as follows.

Breakdown of extraordinary loss
Loss from conducting COVID-19
prevention measures
Impairment loss

FY3/2021

1.5 billion yen
10.6 billion yen

Business restructuring expenses

1.8 billion yen

Total losses related to stores, etc.

12.4 billion yen

Loss on employeesʼ early retirement
benefits
Total (including others)

4.2 billion yen
19.2 billion yen
10© AOYAMA TRADING Co., Ltd. All Rights Reserved.

FY3/2022 Consolidated Earnings Plan
FY3/2022
Plan

YoY (%)[Unit: 100 million yen]
Major Factor of YoY
Change

(%)

1,850

235

114.6 See the next page

940

139

117.5

50.8%

+1.2Pt

―

900

▲44

95.3

Operating
Income40

184― See the next page

Ordinary
Income46

160―

Net Income

30

418

―

Net Sales[1,825]Gross Profit
Sales Ratio[918]

Expenses(Notes)[50.3%][878]

1. Rounded down to the nearest unit.
2. Figures in square brackets are those under the accounting standard of revenue recognition.

11© AOYAMA TRADING Co., Ltd. All Rights Reserved.

FY3/2022 Segment Performance Plan
[Unit: 100 million yen]
FY3/2022 Plan
Net Sales

Business Wear
Business

1,300[1,275]

YoY (%)

Operating
Income(%)

Operating
IncomeNet Sales

Net Sales

Operating
Income

15

201

172

118.3

―

Credit Card Business

46

18

▲2

▲2

94.4

86.4

Printing and MediaBusiness

118

1

2

4

102.4

―

Sundry Sales
Business

159

5

▲5

▲1

96.8

77.5

Comprehensive Repair
Service Business

115

1

23

8

125.4

―

Franchisee Business

117

3

12

2

111.7

375.8

Other

20

▲3

▲4

1

82.9

―

Adjustments

▲25

0

8

0

―

70.9

1,850

40

235

184

114.6

―

Total

[1,825](Notes) 1. Rounded down to the nearest unit.
2. From the fiscal year ending March 2022, the Reuse Business and the Fitness Business, which were included in Other, were merged into the
Food Service Business, which was renamed the Franchisee Business.
An YoY change is obtained by calculating the segment data of the previous fiscal year based on the reporting segmentation of the current
fiscal year.
3. Figures in square brackets are those under the accounting standard of revenue recognition.

12© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

President and CEO

Osamu Aoyama

13© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Aoyama Reborn 2023 Changes in the Business Environment
The market is shrinking along with a change in consumersʼ behavior and a population
decrease, and there is a change in the social system and a dramatic change in consumption
patterns. For these reasons, the profitability of our mainstay Business Wear Business fell at
an accelerated pace.

Business Wear Business• The market is structurally downsized due
to a population decrease••(a decrease in the working population, lowbirthrate and longevity)
Changes in consumersʼ behavior (casualstyle-oriented)
Evolution of ICT (smartphones, SNS, cloud,etc.)• Growing sustainability awareness

COVID-19 crisis• Transformation of the social
system(working from home, remote working,etc.)• A dramatic change in
consumersʼ behavior(stay-at-home consumption, non-faceto-face business, etc.)

Quick restructuring of Business Wear Business and strengthening ofgroup management is required
14© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Aoyama Reborn 2023 Our Future Goals

Suits/
FormalSuits/
FormalGroup companies
Order/EC
Business casual/ (Minit, glob, etc.)
LadiesTransform from one-person management to scrum-typemanagement

Instead of relying too much on top management and selling existing suits and formal
wear, we seek a customer-oriented company consisting of independent departments
promoting business, products and services and cooperating to achieve Groupʼs businessgrowth.
15© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Aoyama Reborn 2023 Management Vision• The Plan will promote building infrastructure to realize our futuregoals, with the following management vision set forth.

1. Innovation and Challenge of Business Wear
Business••

Maximize customer lifetime value (LTV) centering on rebranding
Increase the exposure to customers through the DX strategies(OMO strategy and digital infrastructure development)

2. Promoting Group Management••

Strengthen group governance and group-wide collaboration
Allocate management resources primarily on growth areas

3. Sustainability Initiatives•

Strengthen ESG initiatives focused on SDGs

16
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Aoyama Reborn 2023 Change in Management Vision, etc.

FY3/2019

FY3/2020

Core Business
Innovation
and Challenge

Restructure
the BW*
Customer-oriented
management
Business

Infrastructure
Development
Improve
Productivity

Rebranding

Next Generation
Business
Create andDevelop

ESG
Initiatives

Optimize cost
structure* BW: business wear

AimingSustainable
Management

FY3/2021

LTV
maximization
OMO and digital
infrastructure
Structural Reform

Consolidate or close
unprofitable stores
Encourage voluntary
retirement

FY3/2022
BW*
BusinessInnovation
andChallenge

PromotingGroup
Management

Sustainability
Initiatives
17© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Aoyama Reborn 2023 KPI (Key Performance Indicators)
FY3/2021
Actual

FY3/2022
Plan

FY3/2024Plan

3-yearIncrease

Consolidated
Net Sales

161.4 billion
yen

185 billion yen

200 billion yen+38.6 billion
yenConsolidated
Operating
Income▲14.4 billionyen

4 billion yen

11 billion yen+25.4 billion
yenConsolidated
Net Income▲38.8 billionyen

3 billion yen

8 billion yen+46.8 billion
yen[182.5 billion yen]

* Prerequisite for plan
The impact on earnings due to the COVID-19 pandemic would be gradually reduced as
vaccines become available from the middle of this year, but remain to a certain extent until
the year end. The plan has been formulated based on an assumption that a normal level ofbusiness will be resumed in the 4Q of the current fiscal year (January to March 2022).
(Notes)1. The FY3/2022 figures in square brackets are those under the accounting standard of revenue recognition.
2. Net sales for FY3/2024 is the amount before application of the accounting standard of revenue recognition.

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

18

Aoyama Reborn 2023 Plan by Segment
FY3/2021

FY3/2019 (pre-Covid)

FY3/2024 Plan

3-year Increase

Net Sales

Operating
IncomeNet Sales

Operating
IncomeNet Sales

Operating
Income

1,098

▲157

1,400

55

+301

+212

Credit Card
Business

48

20

52

22

+3

+1

1

Printing andMedia Business

115

▲3

120

3

+4

+6

158

6

Sundry Sales
Business

164

6

162

6

▲2

0

128

▲4

Comprehensive
Repair Service
Business

91

▲7

120

6

+28

+13

109

4

Franchisee
Business

104

0

167

10

+62

+9

130

▲17

Other

24

▲4

27

8

+2

+12

▲41

0

Adjustments

▲33

0

▲48

0

▲14

0

2,503

146

Total

1,614

▲144

2,000

110

+386

+254

Net Sales

Operating
Income1,844

135

Business Wear
Business

50

20

123

(Notes) 1. Rounded down to the nearest unit.
2. From the FY3/2022, the Reuse Business and the Fitness Business, which were included in Other, were merged into the Food Service Business, which was
renamed the Franchisee Business.
The FY3/2019 actual and the FY3/2021 actual have been calculated based on the reporting segmentation of the current fiscal year.
3. Net sales for FY3/2024 is the amount before application of the accounting standard of revenue recognition.

19© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

20© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Innovation and Challenge of Business Wear BusinessMaximize LTV centering on rebranding
Value(products &services)

Customer-oriented
product planning

Frequency(service & exposure
to customers)

Increase services
and the exposure
to customers by
utilizing DX, etc.

PeriodMaximization(convenience &of LTVefficiency)

Improveconvenience andefficiency

̶For maximizing LTV̶
Increase the exposure to customers and raise productivity with morevaluable products and services. Do this by leveraging seasonal demand fromnew graduates including students and employees and taking advantage ofmany opportunities for first contact with customers, to maximize LTV© AOYAMA TRADING Co., Ltd. All Rights Reserved.

21

PeriodFrPeeq
Va
riand Challenge of Business Wear Business RebrandingueluInnovation
od
nc
e
y
̶ To pursue growth strategy from a business perspective, a common
Aoyama Brand Purpose
Value

Frequency

language is needed to integrate employeesʼ awareness.

To be a provider of components that help to boost the business performance
WHO: Business person

WHAT: Products and services that help to increase leisure timeand boost business efficiency

Seek opportunities to provide products and services that meet our
Brand Purpose and are needed by the market (customers)

Rebranding

Item

Measures implemented

Plan

Connecting marketing, sales, andpromotion

Planned monthly events
Conducted campaigns

Cooperate with each store andpromote the PDCA cycle in relevant
departments in headquarters

Measures from a “market in”
perspective (developing products andservices based on the opinions ofconsumers)

Started community measures
Held internal planning meetings
Newly established the Product
Planning Department

Start fan marketing
Discover consumer insights
Plan products such as business casual
wear

Internal marketing

Disseminated the concept
through meetings, etc.
Established the Brand Purpose

Thoroughly disseminate the Brand
Purpose

Cross-industry tie-up

Conducted a collaborative
measurewith Yoshinoya and Tohato

Acquire new customers through a tieup with non-apparel companies

22© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Innovation and Challenge of Business Wear Business
Conceptual image of sales of the BW Business1. Considering the effects of COVID-19 and store closures, we assume that base sales for
FY3/2022 will be about ▲37% from FY3/2019.
2. Plans sales growth based on the following strategy aimed at maximizing LTV through rebranding(1) Increase the exposure to customers through the DX strategies (OMO strategy and digital infrastructuredevelopment)(2) Strategies to expand growth areas (order/ladies/formal, etc.)
1,821(Unit: 100 million yen)
1,509

▲37%
1,100

1,150

1,400

DX
strategy+250

Growthareas, etc.

(1) DX strategy (incl. OMO strategy):+10 billion yen(incl. EC: +5 billion yen)
(2) Expansion in growth areas (excl. DX: +15
billion yen)(incl. order wear: +2 billion yen)(incl. ladies: +3 billion yen)(incl. formal: +3 billion yen)(incl. uniforms and rental: +2 billion yen)(incl. others: +2 billion yen or more)

FY3/2019 FY3/2020 COVID-19, store
actualactualclosures, pricerevisions, etc.

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

FY3/2021
actualPositive effectfrom COVID-19(+)
Negative effectfrom store
closures (▲)

Maximize LTV mainly by rebranding

FY3/2024plan

23Frequency

PeriodInnovation and Challenge of Business Wear BusinessDX (1) OMO strategy
Increase the exposure to customers through the OMO strategy• Increase visitors to both real stores and ECs to expand sales of both channels
Item

Measures implemented

OMO strategy

Review of MA tools
Refresh apps and EC
sites

Plan

• Improve store reputation on forwarding customers andintroduce a digital coupon program• Actively link the publishing product information given by storeswith the publishing of fashion coordination information etc.
given by staff through SNS

EC

Real store• experience the texture,
texture, and texture
when trying on.
• Size can be grasped bymeasuring etc.

OMO
Strategy《Store⇒Web⇒Store》• Open 24 hours a day,365 days a year, you
can purchase anytime,
anywhere• You can shop at yourown pace etc.

24
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

ValueFrequency

Innovation and Challenge of Business Wear BusinessDX (2) Develop digital infrastructure
Develop digital infrastructure to boost the store efficiency andincrease the exposure to customers• Sell new items and services by introducing digi-lab to reduce inventories and create sales space• Increase the exposure to customers by serving them online with the use of customer service terminals
Item

Measures implemented

Plan

Develop digital
infrastructure

Validated digi-lab stores
Introduced customer service
terminals at all stores• Introduce digi-lab in more stores (+100 stores/year)• Enhancing interactive communication by using apps
• Launch online customer service, etc

Sales related information search© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Utilization of
informationtransmission function

Simplification of settlement operations

Creating sales
floor space

Reduction of store inventory

Launch of new items and services,
sublease to third parties, etc.
Sublease to athird party
Ladies' etc.
Focus item

Different
industries
Collaboration

New item like rental

Digital infrastructure development
Online customer
serviceMy store

Staff Coordinate

App extensions
Non-purchaseNhinformation
marketinggEntrance to OMO strategic measures
Deploy everyone and utilize everyone

25ValuePeriodInnovation and Challenge of Business Wear Business
Strategies to expand growth areas

Promote the strategies to expand growth areas
Promptly implement measures to expand business and items in the growth areas* DX strategy-oriented sales are excluded from net increase in sales.

More sales for order wear: Net increase ofMore sales for ladies:• Steadily establish an ordering system for all stores• Increase unit prices to offset a decrease in thenumber of units sold per customer• Cultivate repeaters to expand LTV••

sales 2 billion yen (SHITATE and UL Majors)

Net increase of sales 3 billion yen

9%

50%

700店
700 stores
550店 50%145 stores

Ratio of ready-made clothing•

Newly establish the Ladies Business Department
Increase the exposure to customers through SNS, etc. andupgraded product merchandising (MD)Strengthened cooperation with e-commerce (EC) with which
there is a strong affinity

More sales for formal:

SHITATE expansion plan

FY3/2020
FY3/2021

Net increase of sales 3 billion yen

storesFY3/2024 Plan Our future goals
Ratio of order clothing© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Number of stores• Establish Formal Project Team• Capture more demand for ceremonial events other thanweddings and funerals

More sales for uniforms and rental:
Net increase of sales 2 billion yen• Explore opportunities with nearby schools and general
corporations• Open a rental site called hare:kariMore sales for other items:
Net increase of sales 2 billion yen or more
• Improve the marketing strategy for business casual
wear and light clothing
26

Innovation and Challenge of Business Wear BusinessBusiness strategy for TSC• Rapidly shift to a business model centering on tailored clothing, assuming that the impact of
COVID-19 will continue• Moving toward newly determined Brand Purpose, manage the organization with a sense of unity
Business model innovation in response to thebusiness environment
Shift to a scaled-back store centering on tailoredclothing, such as UL Majors and SHITATE, to reduce
rent and inventories for efficient store operation

Integrated organization managed with the Brand
Purpose at the core

 TSC Brand Purpose

TSC brand provides customers with a cool style thatfits their various life stages, enriching their mind.

Monthly sales promotion plan inesFUKUYAMA branch (Fukuyama City, Hiroshima
Prefecture)
A store having mixed content including four TSC brands*Monthly project with Mayuko Kawakita and Shingo Fujimori
Dress shirt and setup (photos from the left)

Product plan in collaborationand exclusively for EC

 TSC & UL Majors Fukuoka Tenjin branch (Hakata-ku,
Fukuoka City)
A store that integrates TSC and UL Majors, having a tailoredclothing service© AOYAMA TRADING Co., Ltd. All Rights Reserved.

*Q&Q Smile Solar, a collaboration with Citizen-brand watch
and EC exclusive Room Wear series(photos from the left)

27

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

28© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Promoting Group Management
Strengthen group governance and group-wide collaboration• Strengthen the integrated management and supervisory functions of the Group, with a vision to shift to aholding company• Newly established Real Estate Business Department to leverage holding assets and right-of-use assets, andCorporate Risk Management Department
to strengthen risk compliance[Conceptual image after shifting to a[Current]
Stocklisting

holding company]

Aoyama Trading Co., Ltd.
Strengthen the group-wide
management and supervisory
functions
New Real Estate

New Corporate

Business
Department

Operation anddevelopmentof
BW Business

Risk
Management
Department

Groupcompanies
operatingeach segment

Stocklisting

Holding company
Utilizes and manages
group-wide holding
and right-of-use assets

Group company
operatingthe BW Business

Managesgroup-wide risks
ComplianceGroupcompanies
operatingeach segment
29© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Promoting Group Management Strategies by segment (1)Allocate management resources primarily on growth areas• Drive sustainable growth of the whole group by encouraging each business segment to achieve
independence and cooperation, and allocate management resources to priority growth areasfrom a mid- to long-term viewpoint
Printing and Media
Sundry Sales Business
Credit Card BusinessBusinessStrengthen the
Increase members andFocus on digitalized sales
cooperation
with Daiso
operation rate
promotion and device sales• Introduce tablets tostreamline the admission
procedure• Establish a one-stop ordersystem for the entire processof digital sales promotions• Unify VMD with Daiso• Expand admission channels• Sales of educational terminals
and devices including signage,etc.

• Open a store at a former
business-wear store site

• Enhance capabilities to raise
the operation rate andcollaborate with othercompanies to enrich existing
services• Increase sales with the useof automatic ordering system• Produce content for taxi
advertisements, etc. andoperate media

30© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Promoting Group Management Strategies by segment (2)Comprehensive Repair
Service Business
Make domestic businessprofitable

Franchisee BusinessAccelerate FC store
opening• Leverage the employeesʼ
independent partner system topromote franchising existing
stores in Japan• Ease store opening
requirements and downsize
stores for more cost efficiency• Considering work stylechanges, shift to non-urban
stores from urban stores• Actively promote collaborationsuch as operating joint
prototype stores Mercari Repair
with Mercari* Mercari Repair stores at etomo Yutenji branch, JR
Sugamo Sta. branch, and Tokyo Metro Shibuya
Central Exit branch from the left

• Accelerate opening of fitness
studios that take consumersʼ
lifestyle changes into account• Consolidate the Groupʼs FC
businesses for more efficiency* Stores of Anytime Fitness, Yakiniku King, Yuzu-an,
and 2nd STREET from the left

Other Businesses
Nurture new businesses•

Stably deliver quality
articles•Hire more media directors
and writers•

Design the creatives
internally•

Look for potential new
media

•

Increase the ratio of EC
business•

Increase brand value•

Strengthen corporate
alliance activities
31© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

32© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Sustainability Initiatives
Take SDGs seriously in recognizing and resolving environmental and social issues, andlink with the Groupʼs ESG initiatives, to help realize a sustainable society• Promote the reduction of CO2
emissions• Mitigate climate changes

Submitted CDP Climate Change Report• Promote women's participation

Eruboshi certification (certificated by the
Minister of Health, Labour and Welfare)
Kurumin application in progress (by the
Minister of Health, Labour and Welfare)• Promote Sedex registration anddisclosure

Assess the transparency of supply chainsfrom the aspects of human rights, labor,
environmental consideration, and safety of
subcontractorsʼ work environment

Decrease CO2 emissions(from FY3/2014) :30% (FY3/2020: 10.2%)
CDP Assessment Score:
Level B (FY3/2021: D)

Ratio of female managers:

10% or more (FY3/2021: 7.6%)

Number of Sedex-registeredfactories:

Targets for FY3/2024•

Over 1533© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1. FY3/2021 Results Summary
2. Structural Reform Review
3. New Medium-term Management Plan “Aoyama
Reborn 2023”
3.1Innovation and Challenge of Business Wear Business
3.2.Promoting Group Management
3.3.Sustainability Initiatives

4. Shareholder Return Policy

34© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Shareholder Return Policy•

The Company's fundamental policy is to return dividends to shareholders with thehighest priority, in accordance with a policy set out in each medium-term
management plan. Regarding shareholder return for the Medium-term Management Plan
period from the FY3/2022 to FY3/2024, we will prioritize improving the capital adequacythat has been damaged by the effects of COVID-19 on earnings. We will do this byincreasing internal reserves, setting a target total return ratio of 30%.

•

However, the impacts of the COVID-19 pandemic, including the issuance of the state of
emergency for the third time, on the consolidated performance are still uncertain.
Therefore, the amounts of interim and year-end cash dividends per share for
FY3/2022 to be paid to shareholders are yet to be decided.

Record dateCash dividends per share
End of 2Q

Year-end

Total

Forecast(As of May 14, 2021)

TBD

TBD

TBD

FY3/2021

0.00 yen

0.00 yen

0.00 yen
35© AOYAMA TRADING Co., Ltd. All Rights Reserved.

SUPPLEMENTARY DATA

36
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Consolidated Interim Result Summary and forecast
Sales

Sales

Business wear business

Credit card buisiness
Printing and media business

Sundry sales businessTotal repair business
Food servise business

OthersAdjustment

Gross profit

SGA expense
Operating income
Ordinary income
Proﬁt or loss（▲）
Net proﬁt or loss（▲）per share(Notes)FY/3 2020
Interim

101,882
68,892
2,687
5,785
7,772
6,157
4,818
7,208
▲ 1,439
54,17355,730▲ 1,557▲ 1,158▲ 6,469▲129yen43sen

Ratio

Sales

100.0
61,065―36,745
―
2,551
―
4,444
―
8,590
―
3,840
―
4,166
―
1,788
―
▲ 1,06253.2
29,042
54.7
42,894▲ 1.5▲ 13,851▲ 1.1▲ 12,906▲ 6.3▲ 16,938― ▲340yen33sen（Unit︓million yen,％）
FY/3 2021
Interim
Ratio
YoY

100.0
―
―
―
―
―
―
―
―
47.6
70.2
▲ 22.7▲ 21.1▲ 27.7
―

59.9
53.3
94.9
76.8
110.5
62.4
86.5
24.8
―
▲ 5.6Pt
77.0
―
―
―
―

1.Sales by segment are figures before elimination of intersegment transactions. 2.Since the previous consolidated fiscal year, the “food service business”, which
was previously included in “others”, has become more quantitatively important. It has become a reporting segment and changed to the method described.The
sales of Casual wear business includes casual wear business of Aoyama trading Co., Ltd. and Eagle Retailing Corporation.The segment information for theprevious second quarter consolidated cumulative period is calculated based on the classification of the reported segments for the current second quarter

consolidated cumulative period. 3.Others sale include sales of Aoyama trading Co., Ltd.'s casual and reuse business, glob Co., Ltd., WTW Co., Ltd and Customlife
Co., Ltd. 4.Gross profit for the YoY is the change in the sales ratio. 5.Net income per share is calculated based on the average number of shares during theperiod (excluding treasury stock).
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

37

Consolidated Interim Result Summary and forecast
Sales

Sales

Business wear business
Credit card business
Printing and media business

Sundry sales businessTotal repair service businessFranchisee business

OthersAdjustment
Gross profit
SGA expense
Operating income
Ordinary income
Proﬁt or loss（▲）
Proﬁt or loss（▲）per share

FY/3 2021
Interim

61,06536,745
2,551
4,444
8,590
3,840
4,789
1,165
▲ 1,062
29,04242,894▲ 13,851▲ 12,906▲ 16,938▲340yen33sen

Ratio

Forecast

100.0
75,800―48,000
―
2,400
―
6,200
―
8,000
―
5,500
―
5,600
―
1,000
―
▲ 900
47.6
37,00070.2
43,300▲ 22.7▲ 6,300▲ 21.1▲ 6,040▲ 27.7▲ 6,700― ▲134yen61sen（Unit︓million yen,％）
FY/3 2022
Interim
Ratio
YoY

100.0
―
―
―
―
―
―
―
―
48.8
57.1
▲ 8.3
▲ 8.0
▲ 8.8
―

124.1
130.6
94.1
139.5
93.1
143.2
116.9
85.8
―
1.2Pt
100.9
―
―
―
―

(Notes) 1.Sales by segment are figures before elimination of intersegment transactions.2."Others" includes sales of WTW Co., Ltd., Customlife Co., Ltd., andAoyama Trading Co., Ltd. Casual Business.3.From the fiscal year ending March 2022, the reuse business of Aoyama Trading Co., Ltd. and the glob

fitness business, which were previously included in "Others", will be integrated into the "Food Service Business" and the segment name will be changed
to "Franchisee Business". In addition, the casual business of Aoyama Trading Co., Ltd. has been dissolved by terminating the franchise agreement with
Levi Strauss Japan Co., Ltd., which was a Levi's store, on March 31, 2021. The segment information for the previous second quarter consolidated
cumulative period is calculated based on the classification of the reported segments for the current second quarter consolidated cumulative
period.4.Gross profit for the YoY is the change in the sales ratio.5.Net income per share is calculated based on the average number of shares during theperiod (excluding treasury stock).

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

38

Consolidated Result Summary and forecast（Unit︓million yen,％）

Sales

Business wear business

Credit card business
Printing and media business

Sundry sales businessTotal repair service business

Food servise business

OthersAdjustment
Gross profit
SGA expense
Operating income
Ordinary income
Proﬁt or loss（▲）

Proﬁt or loss（▲）per share

FY/3 2020
Full-year
Sales
Ratio

217,696
153,301
5,279
12,416
15,627
12,188
10,121
12,674▲ 3,912
115,302
114,483818
1,530▲ 16,900▲338yen39sen

Sales

100.0 161,404― 109,855―
4,875―
11,518―16,433
―
9,173
―
9,101
―
3,788
― ▲ 3,340
53.0
80,021
52.6
94,4250.4 ▲ 14,404
0.7 ▲ 11,436▲ 7.8 ▲ 38,887― ▲781yen33sen

Ratio

100.0
―
―
―
―
―
―
―
―
49.6
58.5
▲ 8.9
▲ 7.1
▲ 24.1―

FY/3 2021
Full-year
YoY
Forecast

Change from forecast

74.1 172,300 ▲ 10,896
71.7 120,300 ▲ 10,445
92.3
4,900
▲ 25
92.8
11,700▲ 182
105.2
16,500
▲ 67
75.3
8,700
473
89.9
9,300
▲ 199
29.9
3,900
▲ 112
― ▲ 3,000―▲ 3.4Pt
86,600 ▲ 6,579
82.5
99,400 ▲ 4,975― ▲ 12,800 ▲ 1,604― ▲ 10,300 ▲ 1,136― ▲ 29,200 ▲ 9,687― ▲586yen68sen―(Notes) 1.Sales by segment are figures before elimination of intersegment transactions. 2.Since the previous consolidated fiscal year, the “food service
business”, which was previously included in “others”, has become more quantitatively important. It has become a reporting segment and changed
to the method described.The sales of Casual wear business includes casual wear business of Aoyama trading Co., Ltd. and Eagle Retailing
Corporation.The segment information for the previous second quarter consolidated cumulative period is calculated based on the classification of thereported segments for the current second quarter consolidated cumulative period. 3.Others sale include sales of Aoyama Shoji Co., Ltd.'s casual andreuse business, glob Co., Ltd., WTW Co., Ltd and Custom life inc. 4.Gross profit for the YoY is the change in the sales ratio. 5.Net income per shareis calculated based on the average number of shares during the period (excluding treasury stock).

39© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Consolidated Result Summary and forecast（Unit︓million yen,％）

FY/3 2021
Full-year
Sales
Ratio

Sales

Business wear business

Credit card business
Printing and media business

Sundry sales businessTotal repair service businessFranchisee business

OthersAdjustment
Gross profit
SGA expense
Operating income
Ordinary income
Proﬁt or loss（▲）

Proﬁt or loss（▲）per share

161,404
109,855
4,875
11,51816,433
9,173
10,4772,411▲ 3,340
80,021
94,425▲ 14,404▲ 11,436▲ 38,887▲781yen33sen

100.0
―
―
―
―
―
―
―
―
49.6
58.5
▲ 8.9
▲ 7.1
▲ 24.1―

Forecast

185,000
130,000
4,600
11,80015,90011,50011,7002,000▲ 2,500
94,00090,000
4,000
4,600
3,000
60yen27sen

FY/3 2022
Full-year
Ratio

100.0
―
―
―
―
―
―
―
―
50.8
48.6
2.2
2.5
1.6
―

YoY

114.6
118.3
94.4
102.4
96.8
125.4
111.7
82.9
―
1.2Pt
95.3
―
―
―
―

（Notes）1.Sales by segment are figures before elimination of intersegment transactions.2."Others" includes sales of WTW Co., Ltd., Customlife Co., Ltd., and Aoyama Trading
Co., Ltd. Casual Business.3.From the fiscal year ending March 2022, the reuse business of Aoyama Trading Co., Ltd. and the glob fitness business, which werepreviously included in "Others", will be integrated into the "Food Service Business" and the segment name will be changed to "Franchisee Business". In addition, thecasual business of Aoyama Trading Co., Ltd. has been dissolved by terminating the franchise agreement with Levi Strauss Japan Co., Ltd., which was a Levi's store,
on March 31, 2021. The segment information for the previous second quarter consolidated cumulative period is calculated based on the classification of thereported segments for the current second quarter consolidated cumulative period.4.Gross profit for the YoY is the change in the sales ratio.5.Net income per shareis calculated based on the average number of shares during the period (excluding treasury stock).

40© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Non-Consolidated Interim Result Summary and forecast
FY3/2020
FY/3 2021
InterimInterim
Sales
Ratio
Sales
Ratio
68,706100.0
36,691
100.0
Sales
Business wear business
67,663100.0
35,810100.0Casual・Reuse business
1,043
100.0
881
100.0
40,355
58.7
19,38552.8
Gross profit
Business wear business
39,72758.7
18,861
52.7
Casual・Reuse business
628
60.3
523
59.4
42,352
61.6
33,86992.3
SGA expense
Business wear business
41,663
61.6
33,23092.8
Casual・Reuse business
689
66.1
639
72.5
Operating income ▲ 1,996▲ 2.9 ▲ 14,484▲ 39.5Business wear business▲ 1,936▲ 2.9 ▲ 14,369▲ 40.1
Casual・Reuse business
▲ 60
▲ 5.8
▲ 115
▲ 13.1Non-operating revenue
773
1.1
798
2.2
（Derivative evaluation prﬁt ）
(1)
(0.0)
(30)
(0.1)
Ordinary income ▲ 1,223▲ 1.8 ▲ 13,686▲ 37.3Extraordinary profit or loss
▲ 490
▲ 0.7 ▲ 2,603▲ 7.1
Proﬁt or loss（▲）▲ 1,654▲ 2.4 ▲ 16,453▲ 44.8Proﬁt or loss （▲） per share ▲33yen11sen― ▲330yen59sen―（Notes）1.

2.
3.

（Unit︓million yen,％）

FY/3 2022
Interim
YoY
Forecast
Ratio
53.4
47,800100.0
52.9
47,800100.0
84.5▲ 5.9Pt
25,74053.8▲ 6.0Pt
25,74053.8▲ 0.9Pt
80.0
32,84068.7
79.8
32,84068.7
92.7― ▲ 7,100▲ 14.9― ▲ 7,100▲ 14.9
―
103.2
550
1.2
(―)
(0)
(0.0)
― ▲ 6,550▲ 13.7―20
0.0― ▲ 6,700▲ 14.0― ▲134yen61sen
―

YoY
130.3
133.5

Regarding the Levi's store, which was developed in the "casual business," the franchise agreement with Levi Strauss Japan Co., Ltd.
has ended on March 31, 2021. In addition, by transferring the "reuse business" to glob Co., Ltd., the "casual reuse business" of
Aoyama Trading Co., Ltd. has been dissolved as of March 31, 2021.
Gross profit for the YoY is the change in the sales ratio.
Net income per share is calculated based on the average number of shares during the period (excluding treasury stock).

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

1.0Pt
1.1Pt
97.0
98.8
―
―
68.9
(0)
―
―
―
―

41

Non-Consolidated Result Summary and forecast（Unit︓million yen,％）

FY/3 2020
Full-year
Sales
Ratio
Sales
153,162
Sales
100.0 110,025
Business wear business 150,955
100.0 108,034
Casual・Reuse business
2,207
100.0
1,991
88,84158.0 59,399
Gross profit
Business wear business
87,53358.0 58,389
Casual・Reuse business
1,308
59.3
1,010
58.1 75,839
SGA expense 89,006
Business wear business
87,59158.0 74,488
Casual・Reuse business
1,415
64.1
1,350
Operating income▲ 164▲ 0.1 ▲ 16,439
Business wear business▲ 57▲ 0.0 ▲ 16,099
Casual・Reuse business▲ 107▲ 4.9 ▲ 339
Non-operating revenue
1,185
0.8
2,673
（Derivative evaluation prﬁt ）(▲ 17) (▲ 0.0)(216)
Ordinary income
1,020
0.7 ▲ 13,766
Extraordinary profit or loss ▲ 27,885▲ 18.2 ▲ 18,126
Proﬁt or loss（▲） ▲ 23,276 ▲ 15.2 ▲ 38,756
Proﬁt or loss （▲） per share ▲466yen05sen― ▲778yen69sen（Notes）1.

2.
3.

FY/3 2021
FY/3 2022
Full-year
Full-year
Forecast Ratio
Ratio
YoY Forecast
YoY
100.0
71.8 120,300 ▲ 10,275 130,000
100.0
118.2
100.0
71.6 118,250 ▲ 10,216 130,000
100.0
120.3
100.0
90.2
2,050
▲ 59
54.0 ▲ 4.0Pt 66,120 ▲ 6,721 71,500
55.0
1.0Pt
54.0 ▲ 4.0Pt 64,880 ▲ 6,491 71,500
55.0
1.0Pt
50.7 ▲ 8.6Pt
1,240 ▲ 230
68.985.2 80,320 ▲ 4,481 70,000
53.8
92.3
68.9
85.0 78,990 ▲ 4,502 70,000
53.8
94.0
67.8
95.4
1,330
20
▲ 14.9― ▲ 14,200 ▲ 2,239
1,500
1.2
―
▲ 14.9― ▲ 14,110 ▲ 1,989
1,500
1.2
―
▲ 17.1―▲ 90 ▲ 249
2.4
225.5
2,250
423
950
0.7
35.5
(0.2)
(―)
(30)
(186)
(0)
(0.0)
(―)
▲ 12.5― ▲ 11,950 ▲ 1,816
2,450
1.9
―
▲ 16.5― ▲ 16,730 ▲ 1,39630
0.0―▲ 35.2― ▲ 29,000 ▲ 9,756
2,100
1.6
―
▲582yen66sen
42yen19sen
―
―
―
―
―
Change from forecast

Regarding the Levi's store, which was developed in the "casual business," the franchise agreement with Levi Strauss Japan Co., Ltd.
has ended on March 31, 2021. In addition, by transferring the "reuse business" to glob Co., Ltd., the "casual reuse business" of
Aoyama Trading Co., Ltd. has been dissolved as of March 31, 2021.
Gross profit for the YoY is the change in the sales ratio.
Net income per share is calculated based on the average number of shares during the period (excluding treasury stock).

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

42Non-Consolidated Main Expenses【Interim】（Unit︓million yen,％）

FY3/2021 Interim
FY3/2022 Interim
Ratio Performance Ratio
YoY Forecast Ratio
YoY
23.2 13,647
37.2
85.7 12,140
25.4
89.0
1.8
814
2.2
65.5
620
1.3
76.1
▲ 0.3 ▲ 302 ▲ 0.8－ ▲ 300 ▲ 0.6－
5.7 2,580
7.0
65.9 2,760
5.8 107.0
2.0 1,143
3.1
84.5 1,130
2.4
98.8

FY3/2020 Interim
Performance

Utility expense

15,933
1,244
▲ 190
3,914
1,353

Internet expense

1,269

1.8

1,252

3.4

98.7

1,480

3.1

118.2

Rent
Depreciation

9,840
2,813

14.3
4.1

8,268
1,915

22.5
5.2

84.0
68.1

8,260
1,620

17.3
3.4

99.9
84.6

Personnel expense

Reward points
Point reserve

Advertising expense【Full year】
FY3/2020 Full-year
Performance

Ratio Performance
20.8 28,011
1.8 2,053▲ 0.3 ▲ 684
7.8 10,222
1.7 2,274

FY3/2021 Full-year
FY3/2022 Full-year
Ratio
YoY Forecast
Forecast Ratio YoY
25.5
87.9 28,960 ▲ 949 24,100 18.5 86.0
1.9
73.3 2,710 ▲ 657 1,500
1.2 73.1▲ 0.6－ ▲ 500 ▲ 184 ▲ 540 ▲ 0.4－
7.3 92.9
9.3
85.5 11,240 ▲ 1,018 9,500
2.185.8 2,370▲ 96 2,180
1.7 95.9
Change from forecast

Utility expense

31,8502,802▲ 388
11,9582,651Internet expense

2,723

1.8

2,742

2.5

100.7

Rent
Depreciation

19,631
5,698

12.8 17,232
3.7 3,865

15.7
3.5

87.8 17,400
67.8 3,970

Personnel expense

Reward points
Point reserve

Advertising expense

3,120

▲ 378

2,990

▲ 168 15,720▲ 105 3,270

2.3 109.0
12.1
2.5

91.2
84.6
43

© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Non-Consolidated Non-Operating Revenue（Unit︓million yen）

FY3/2020

FY3/2021

FY3/2022

InterimFull year

InterimFull year

Interest Income Dividend

590

767

398

553

300

450

Real estate rent

1,834

3,538

1,356

2,780

1,680

3,410

Derivative evaluation prfit

1

―

30

216

―

―

Foreign exchange profit

―

―

―

17

―

―

Others

56

245

308

1,584

40

110

Total Non-operating profit

2,482

4,551

2,093

5,151

2,020

3,970

Interest expense

47

99

55

130

100

200

Real estate rental cost

1,647

3,152

1,152

2,310

1,360

2,760

Derivative evaluation loss

―

17

―

―

―

―

Foreign exchange loss

5

4

7

―

―

―

Others

8

91

81

37

10

60

Total Non-operating expense

1,709

3,365

1,295

2,478

1,470

3,020

Non-Operating Revenue

773

1,185

798

2,673

550

950

（Financial revenue）( 542)( 668)( 343)( 423)( 200)( 250)

Interim forecast

Full year forecast(Notes) "Real estate rent" and "real estate rent cost" are both denominated.

44© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Per Unit Sales and Inventories(Business Wear Business)
FY3/2019

FY3/2020

FY3/2021

Full-year

Full-year

Full-year

Number of employees(non-consolidated)

4,010

4,073

4,015

Number of temporary employees

2,922

2,661

2,313

Total

6,932

6,734

6,328

Average

6,438

6,361

5,375

（Of which, temporary employees）( 2,358 )( 2,183 )( 1,785 )Net sales per employee

27,223 k

22,818 k

19,133 k

Avarage sales area in use

543,721 ㎡

541,864 ㎡

527,619 ㎡

Net sales per m²

322 k

267 k

194 k

Avarage number of stores in use

891.0

891.0

856.0

Net sales per store

196,702 k

162,903 k

120,142 k

Year-end inventories per m²

86 k

94 k

87 k

Year-end inventories per store

52,512 k

57,492 k

53,910 k（Notes） 1． Company employees are directly employed personnel, the number of temporary employees is calculated based on an 8-hours working day per person.
2． The number of temporary employees is calculated based on an 8-hours working day per person.

45© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Net Sales by Product Category(Business Wear Business)【Unit︓million yen】

FY3/2020 Full-year

FY3/2021 Full-year

Change

Sales

Sales

from YoY

Composition Ratio(％)

Composition Ratio(％)

YoY（％）

43,37528.7

30,13827.9▲ 13,236

69.5

Jackets

4,784

3.2

2,846

2.6

▲ 1,937

59.5

Pants

6,316

4.2

4,397

4.1

▲ 1,918

69.6

Coats

3,243

2.2

2,338

2.2

▲ 905

72.1

Formal

19,67413.0

12,484

11.6▲ 7,190

63.5

452

0.3

602

0.5

149

133.0

Subtotal
Shirts etc.

77,846
24,95051.6
16.5

52,80817,422

48.9
16.1▲ 25,038▲ 7,528

67.8
69.8

Casual

4,167

2.8

2,566

2.4

▲ 1,601

61.6

Other Items

11,804

7.8

9,141

8.4

▲ 2,662

77.4

40,92327.1

29,13026.9▲ 11,792

71.2

Ladies Items
Reward points

25,52016.9

20,717

19.2▲ 4,802

81.2

Processing fee

2,802

1.8

2,053

1.9

▲ 749

73.3

3,862

2.6

3,323

3.1

▲ 538

86.1

150,955

100.0

108,034

100.0▲ 42,921

71.6

Suits/three-peace suits

Heavy wear

Vest

Light wear

Subtotal

Total（Notes 1.

2.

「Other Items」are such as underwear, shoes, Sundry goods.
「Ladies Items」includes suits, Formal wear, pumps etc.

46
© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Number of Sold Menʼs Suits and Average of
Selling Price (Business Wear Business)(Unit︓thousand)(Unit︓yen)
29,000

2,200
2,195

2,126

2,000

2,048

1,800

28,00027,088…

27,498yen

27,298yen

1,600

27,00027,187yen
1,601

1,400

25,472yen

26,000

1,200
1,182

25,0001,000

800

24,000FY/3 2017

FY/3 2018

Number of clothes soldFY/3 2019

FY/3 2020

FY/3 2021

Average of selling price47© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Operating Environment : Suits Imports（Unit︓thousand suits, ％）Change

2018

2019

2020

（Jan〜Dec）（Jan〜Dec）（Jan〜Dec）

rate

China

3,982

3,412

2,095

Vietnam

835

850

Myanmar

1,283

Indonesia

Change incomposition

Unit

Unit pricechange

ratio

price

61.4

▲ 4.8

8,914

97.0

624

73.4

0.8

7,516

100.1

1,059

782

73.8

1.0

5,091

95.6

1,007

969

713

73.5

0.9

6,700

107.4

Italy

49

47

36

77.2

0.1

66,111

98.0

Others

1,457

1,206

936

77.6

2.1

6,059

95.0

Total

8,613

7,543

5,186

68.8

0.0

7,747

96.9

Unit price (yen)

7,667

7,994

7,747

－

－

－

－

Foreign exchange (average)

110.4

109.2

106.4

－

－

－

－

rate

*Source: Ministry of Finance Trade Statistics

48© AOYAMA TRADING Co., Ltd. All Rights Reserved.

Disclaimer••••

This document is intended to provide general information of the Company and is notintended to solicit investment from investors.
The Company endeavors to ensure the accuracy of the information and materials
contained within this document, but makes no warranty as to completeness thereof.
The Company shall not be held liable in any way for any damages arising out of theinformation contained herein.
The forecasts contained in this document are based on the Company's assumptions andbeliefs in light of information available at the time of writing and include potential risks
and uncertainties. Actual results may differ materially from those anticipated in theseforward-looking statements as a result of various factors, including changes in thebusiness environment.

[Contact for this document and our investor relations]
General Planning and Policy Dept., Aoyama Trading Co., Ltd.
TEL: 084-920-0029
URL: https://www.aoyama-syouji.co.jp/ir/contact/

49© AOYAMA TRADING Co., Ltd. All Rights Reserved.