August 13,2024
Company name:
Komehyo Holdings Co., Ltd.
Name of representative: Takuji Ishihara, Representative
Director and President(Securities code: 2780;
TOKYO STANDARD / NAGOYAMAIN)
Inquiries:
Hiroyuki Yoshida, General Managerof IR・PR Department(Telephone: +81-52-249-5366)

Notice Concerning Revision of Earnings Forecasts and Dividend Forecasts

Komehyo Holdings Co., Ltd. (the “Company”) hereby announces that in light of the most recent operating
trends, a decision was passed at the meeting of the Board of Directors held on August 13,2024, to revise thefinancial results forecasts and dividend forecast for the fiscal year ending March 31,2025 (April 1,2024
through March 31,2025), disclosed with the announcement of the financial results for the fiscal year ended
March 31,2024 on May 13, as described below.
１．Revision of Earnings Forecast（１）Revisions to Consolidated Earnings Forecasts for the Second Quarter of the Fiscal Year Ending
March 31, 2025 (April 1, 2024 to September 30, 2024)(Millions of yen)

Consolidated
net sales

Consolidated
operating profit

Consolidated
ordinary profit

Interim net
incomeattributable toparent company
shareholders

Consolidated
per shareinterim net
income (yen)Previously announced
forecasts (A)64,000

2,930

2,880

1,850

168.85

Revised forecasts (B)68,500

3,400

3,380

2,210

201.71

Change (B-A)

4,500

470

500

360－

Change (%)

7.0

16.0

17.4

19.5

－

52,764

3,210

3,271

2,137

195.05(Reference)
Actual consolidated second
quarter results for theprevious fiscal year
(The Second Quarter of theFiscal Year Ending March 31,2024)

（２）Revisions to consolidated financial results forecasts for the current fiscal year
(April 1,2024 through March 31,2025)(Millions of yen)
Consolidated
net sales

Consolidated
operating profit

Consolidated
ordinary profit

Profitattributable toowners of parent

Consolidated
earnings pershare(yen)Previously announced
forecasts (A)140,000

8,000

7,900

5,200

474.61

Revised forecasts (B)144,500

8,470

8,400

5,560

507.47

Change (B-A)

4,500

470

500

360－

Change (%)

3.2

5.9

6.3

6.9

－

119,459

7,452

7,479

5,025

458.65(Reference)
Actual consolidated results forthe previous fiscal year
(Fiscal year ended March 31,2024)（３）Reason for revision

In the first quarter of the fiscal year ending March 31, 2025, the market rates of jewelry, watches,
designer bags and fashion items, which are mainstay products, remained flat or grewslightly—mainly those of popular products.
As a result of various initiatives pursued by Komehyo under this environment, including theaggressive opening of new stores, strengthened promotions and creative purchase prices, thecompany has managed to secure good quality merchandise, with purchases from individual
customers performing strongly in terms of both quality and quantity.
Looking at net sales, the Company managed to secure an abundance of merchandise throughstrong purchases from individual customers and active corporate purchases, retail selling
including inbound business performed strongly at our sales locations including KOMEHYOSHIBUYA Store, which opened in the previous fiscal year. In addition, the acceleration of global
expansion such as new store openings and expansion of regional areas, as well as an increasein corporate sales due to strong individual purchases, resulted in sales exceeding the initial plan.
On the profit front, the higher percentage of retail sales and improved in-house auction volume
lead to better gross profit margin, and as a result of managing to control expenses as planned,
operating income, ordinary income and net income attributable to owners of parent all beat initialforecasts.
In addition, although the market price of each product will remain unstable due to the effects offoreign exchange rates, etc., individual purchases are expected to remain steady from the second
quarter onwards, and the inventory secured in the first quarter will continue to increase. , isexpected to contribute to sales from the second quarter onwards.
For these reasons, we have decided to revise our consolidated financial forecasts for the secondquarter (first half) and full-year.

２．Revision of Dividend Forecast（１）Details of the revision of the dividend forecast(Yen)
Annual dividends
Second quarter-end

Fiscal-year end

Total

Previous forecasts

50.00

50.00

100.00

Revised forecasts

52.00

52.00

52.00

－－－

44.00

44.00

88.00

Actual results for thecurrent fiscal year
Actual results for theprevious fiscal year
(Fiscal year ended March31, 2023)（２）Reason for revision to dividend forecasts
The Company recognizes shareholder returns as a key issue in its management strategy. Our basic
policy is to issue dividends aimed at maintaining a dividend payout ratio of around 20%, returning
profits to shareholders based on business performance while retaining the earnings necessary to
expand our future business and strengthen our management structure.
Based on this policy, in overall consideration of our income level, financial position and other factors
for the fiscal year ending March 31, 2025, the interim dividend forecast and the year-end dividend
forecast for the fiscal year ending March 31, 2025 have been revised to 52 yen each, an increase of 2yen per share from the previous forecast of 50 yen. The annual dividend will be 104 yen per share.
We will continue our endeavors to improve capital efficiency and to pay stable dividends while
ensuring financial soundness.
Note: The forecasts above have been created on the basis of the information available as of the date ofpublication of this document, and actual results may differ from the forecasts stated in this document.