# EDGAR Filing Document

**Accession Number:** 0001836242
**File Stem:** 0001213900-26-068258
**Filing Date:** 2026-6
**Character Count:** 69485
**Document Hash:** 3590a72c607ac86a3a1b007d8e43e2fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-068258.hdr.sgml**: 20260612

**ACCESSION NUMBER**: 0001213900-26-068258

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260612

**FILED AS OF DATE**: 20260612

**DATE AS OF CHANGE**: 20260612

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tokyo Lifestyle Co., Ltd.
- **CENTRAL INDEX KEY:** 0001836242
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RETAIL STORES, NEC [5990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41181
- **FILM NUMBER:** 261086505

**BUSINESS ADDRESS:**
- **STREET 1:** HARUMI BUILDING, 2-5-9 KOTOBASHI
- **STREET 2:** SUMIDA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 130-0022
- **BUSINESS PHONE:** (81)356260668

**MAIL ADDRESS:**
- **STREET 1:** HARUMI BUILDING, 2-5-9 KOTOBASHI
- **STREET 2:** SUMIDA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 130-0022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Yoshitsu Co., Ltd
- **DATE OF NAME CHANGE:** 20201221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Yoshitsu Co., Ltd.
- **DATE OF NAME CHANGE:** 20201211

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of June 2026**

**Commission File Number: 001-41181**

**Tokyo Lifestyle Co., Ltd.**

**Harumi Building, 2-5-9 Kotobashi**

**Sumida-ku, Tokyo, 130-0022**

**Japan**

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

**Convocation of the 20th Annual General Meeting of Shareholders**

In accordance with the rules and regulations of the Japanese Companies Act, Tokyo Lifestyle Co., Ltd., a joint-stock corporation with limited liability organized under Japanese law (the "Company"), has sent a notice and accompanying information, including proxy instructions, to all holders of its ordinary shares and American Depositary Shares with respect to its 20th Annual General Meeting of Shareholders to be held in Tokyo, Japan on June 26, 2026 (the "Notice"). A complete copy of the Notice is furnished hereto as Exhibit 99.1.

Exhibit 99.1 furnished hereto shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

**Proposal of a Year-End Dividend**

In the Notice, the Company proposed that the shareholders approve a year-end dividend of JPY1.890 per share (the "Year-End Dividend"). Upon shareholders' approval, the Year-End Dividend distribution will become effective on June 30, 2026 and be payable from September 14, 2026 to September 30, 2026 to all shareholders of record as of March 31, 2026 (Japan Standard Time), with an American depositary receipt record date of March 31, 2026 (Eastern Time).

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Tokyo Lifestyle Co., Ltd.** | **Tokyo Lifestyle Co., Ltd.** |
| Date: June 12, 2026 | By: | /s/ Mei Kanayama |
|  | Name: | Mei Kanayama |
|  | Title: | Representative Director and Director<br> (Principal Executive Officer) |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Notice of Convocation of Annual General Meeting of Shareholders to be held on June 26, 2026](ea029337101ex99-1.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

[This is an English translation of the original issued in Japanese]

[Note] The Company assumes no responsibility for this translation or for direct, indirect, or other forms of damages arising from the translation. This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

June 12, 2026 <br> Dear Shareholders

Harumi Building, 2-5-9 Kotobashi,

Sumida-ku, Tokyo,130-0022

Tokyo Lifestyle Co., Ltd.

President and Representative

Director

Mei Kanayama

Notice of the 20th Ordinary General Meeting of Shareholders

We sincerely appreciate your continued support and kind attention.

You are cordially invited to attend the 20th Ordinary General Meeting of Shareholders of our company. The meeting will be held as described below.

If you are unable to attend the meeting, you may exercise your voting rights in writing. Please review the attached Reference Documents for the General Meeting of Shareholders, indicate your approval or disapproval of the proposals on the enclosed Voting Rights Exercise Form, and send it to our company so that it arrives by 4:30 PM on June 25, 2026.

Best regards,

Notice

1. Date:
 Friday, June 26, 2026 at 11:00 AM (Reception starts at 10:00 AM)

2. Place:
 Harumi Bldg. 5th Floor, Kotobashi 2-5-9, Sumida-ku, Tokyo, Japan

3. Purpose

Matters to be reported:

Business Report for the 20<sup>th</sup> Fiscal Year (from April 1, 2025 to March 31, 2026)

Matters to be resolved:

---

| | |
|:---|:---|
| Proposal 1 | Approval of the Financial Statements for the 20th Fiscal Year |
| Proposal 2 | Partial Amendments to the Articles of Incorporation |
|  | (Establishment of a Board of Auditors and Appointment of an Accounting Auditor) |
| Proposal 3 | Appropriation of Surplus |
| Proposal 4 | Appointment of Accounting Auditor |
| Proposal 5 | Election of Three Corporate Auditors |

---

The above

When attending the meeting, please bring this Notice of Convocation, the attached documents, and the Reference Documents for the General Meeting of Shareholders, and submit the enclosed Voting Rights Exercise Form to the reception desk.

Reference Documents for the General Meeting of Shareholders

Proposal 1: Approval of the Financial Statements for the 20th Fiscal Year

Approval is hereby requested, in accordance with applicable laws and regulations and the provisions of the Articles of Incorporation, for the financial statements of the Company's 20th fiscal year (from April 1, 2025 to March 31, 2026).

These financial statements have undergone a voluntary audit by an independent audit firm serving as the accounting auditor; however, they have not been audited under the Companies Act by a Board of Corporate Auditors or an Accounting Auditor in the capacity of a company with such institutions established. Such audits are scheduled to commence from the 21st fiscal year.

Proposal 2: Partial Amendments to the Articles of Incorporation (Establishment of a Board of Auditors and Appointment of an Accounting Auditor)

Reason for the Amendments

In connection with the establishment of an Accounting Auditor, the Company proposes to partially amend the current Articles of Incorporation in accordance with the provisions of the Companies Act by newly establishing provisions regarding the Accounting Auditor.

&nbsp;&nbsp;&nbsp;&nbsp;2. Details
of the Amendments

&nbsp;&nbsp;&nbsp;&nbsp;(1) In
 connection with the Company's transition to a company with a Board of Corporate Auditors,
 new provisions relating to the Board of Corporate Auditors and Corporate Auditors shall be
 established in the Articles of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;(2) New
 provisions shall be established to provide that the number of Corporate Auditors shall be
 three (3) or more, and that a majority of such Corporate Auditors shall be Outside Corporate
 Auditors.

&nbsp;&nbsp;&nbsp;&nbsp;(3) In
 addition, necessary amendments shall be made, including renumbering of articles resulting
 from the above additions and other related revisions.

Proposal 3: Appropriation of Surplus

The Company hereby requests approval for the distribution of dividends from surplus as set forth below, with March 31, 2026 (Tuesday) as the record date.

Details

Type of dividend property: Cash

Matters concerning the allocation of dividend property: JPY 1.890 per share of common stock

Total amount of dividends: JPY 79,999,557

Effective date of dividend distribution: June 30, 2026

Dividend Payment Commencement Date: September 14, 2026

Dividend Payment End Date: September 30, 2026

Proposal 4: Appointment of Accounting Auditor

The Company requests approval for the appointment of Sakurazaka Audit Corporation as the Accounting Auditor.

Proposal 5: Election of Three Corporate Auditors

As the Company will transition to a company with an Audit & Supervisory Board, subject to the approval and adoption of Proposal No. 2, we hereby request the election of three (3) Audit & Supervisory Board Members.

Mr. Keiichi Kimura, who currently serves as an Audit & Supervisory Board Member, is scheduled to resign upon the conclusion of this General Meeting. This resignation is intended to align the terms of office of all newly elected Audit & Supervisory Board Members following the transition to a company with an Audit & Supervisory Board pursuant to Proposal No. 2, thereby facilitating the smooth operation of the Audit & Supervisory Board.

Accordingly, we request the election of the following three individuals as Audit & Supervisory Board Members. The remuneration of the Audit & Supervisory Board Members shall be determined within the total amount of remuneration previously approved by resolution of the shareholders' meeting.

The candidates for Corporate Auditor are as follows:

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Candidate<br> Number | &nbsp;&nbsp; Name<br> (Date of birth) | &nbsp;&nbsp;Brief Biography, Position, Significant Concurrent Positions, and Special Interests with the Company. | &nbsp;&nbsp;Number of<br> Company's<br> Shares Held |
| &nbsp;&nbsp;1 | &nbsp;&nbsp; Keiichi Kimura<br> (February 9, 1966)<br> Reappointment | &nbsp;&nbsp; (Career summary and position)<br>November 2014 Joined Takuetsu Co., Ltd.<br>June 2020 Appointed as Corporate Auditor of the Company<br>October 2021 Appointed as Inside Corporate Auditor of the Company<br>June 2025 Reappointed as Internal Corporate Auditor of the Company (incumbent)<br>(Significant Concurrent Positions)<br> None<br>(Special Interests with our Company)<br> None | &nbsp;&nbsp;0 shares |
| &nbsp;&nbsp;2 | &nbsp;&nbsp; Akira Kotajima<br> (August 20, 1984)<br> New Appointment | &nbsp;&nbsp; (Career summary and position)<br>December 2013 Joined DinnerBank Co., Ltd.<br>March 2016 Appointed Representative Director of DinnerBank Co., Ltd.<br>July 2024 Resigned as Representative Director of DinnerBank Co., Ltd.<br>July 2024 Left DinnerBank Co., Ltd.<br>(Significant Concurrent Positions)<br> None<br>(Special Interests with our Company)<br> None<br>| &nbsp;&nbsp; 0 shares<br>|
| &nbsp;&nbsp;3 | &nbsp;&nbsp; Yoshie Nakamura<br> (November 8, 1978)<br> New Appointment | &nbsp;&nbsp; (Career summary and position)<br>March 2017 Joined Shinichi Shoji Co., Ltd.<br>November 2022 Retired from Shinichi Shoji Co., Ltd.<br>July 2023 Joined Kosei Co., Ltd.<br>(Significant Concurrent Positions)<br> None<br>(Special Interests with our Company)<br> None<br>| &nbsp;&nbsp; 0 shares<br>|

---

\* Among the above candidates, Mr. Akira Kotajima and Ms. Yoshie Nakamura are candidates for Outside Corporate Auditor as defined in Article 2, Item 16 of the Companies Act.

Appendix

---

| | | | |
|:---|:---|:---|:---|
| Current Articles of Incorporation | Current Articles of Incorporation | Proposed Amendments | Proposed Amendments |
| (Organs) | (Organs) | (Organs) | (Organs) |
| Article 4 | In addition to the General Meeting of Shareholders and Directors, the Company shall establish the following organs:<br>1.Board of Directors<br>2.Corporate Auditors | Article 4 | In addition to the General Meeting of Shareholders and Directors, the Company shall establish the following organs:<br>1.Board of Directors<br>2.Corporate Auditors<br>3.Board of Corporate Auditors<br>4.Accounting Auditor |
| **Chapter 5 Corporate Auditors** | **Chapter 5 Corporate Auditors** | **Chapter 5 Corporate Auditors** | **Chapter 5 Corporate Auditors** |
| (Number of Corporate Auditors) | (Number of Corporate Auditors) | (Number of Corporate Auditors) | (Number of Corporate Auditors) |
| Article 26 | The Company shall have no more than ten (10) Corporate Auditors. | Article 26 | The Company shall have no fewer than three (3) and no more than ten (10) Corporate Auditors. |
| (Method of Election) | (Method of Election) | (Method of Election) | (Method of Election) |
| Article 27 | Resolutions for the election of Corporate Auditors shall be adopted at a General Meeting of Shareholders by a majority of the voting rights of the shareholders present at the meeting who hold one-third or more of the voting rights exercisable by all shareholders. | Article 27 | Resolutions for the election of Corporate Auditors shall be adopted at a General Meeting of Shareholders by a majority of the voting rights of the shareholders present at the meeting who hold one-third or more of the voting rights exercisable by all shareholders. |
| (Term of Office) | (Term of Office) | (Term of Office) | (Term of Office) |
| Article 28 | The term of office of a Corporate Auditor shall expire at the conclusion of the Ordinary General Meeting of Shareholders relating to the final fiscal year ending within four (4) years after the election. | Article 28 | The term of office of a Corporate Auditor shall expire at the conclusion of the Ordinary General Meeting of Shareholders relating to the final fiscal year ending within four (4) years after the election. |
|  | 2. The term of office of a Corporate Auditor elected as a substitute for a Corporate Auditor who retired before the expiration of his or her term shall continue until the expiration of the term of office of the retired Corporate Auditor. |  | 2. The term of office of a Corporate Auditor elected as a substitute for a Corporate Auditor who retired before the expiration of his or her term shall continue until the expiration of the term of office of the retired Corporate Auditor. |
| (Remuneration, etc.) | (Remuneration, etc.) | (Remuneration, etc.) | (Remuneration, etc.) |
| Article 29 | The remuneration, etc. of Corporate Auditors shall be determined by resolution of the General Meeting of Shareholders. | Article 29 | The remuneration, etc. of Corporate Auditors shall be determined by resolution of the General Meeting of Shareholders. |

---

---

| | | | |
|:---|:---|:---|:---|
| Current Articles of Incorporation | Current Articles of Incorporation | Proposed Amendments | Proposed Amendments |
| (Exemption from Liability of Corporate Auditors) | (Exemption from Liability of Corporate Auditors) | (Exemption from Liability of Corporate Auditors) | (Exemption from Liability of Corporate Auditors) |
| Article 30 | The Company may, by resolution of the Board of Directors, exempt Corporate Auditors (including former Corporate Auditors) from liability for damages under Article 423, Paragraph 1 of the Companies Act, to the extent permitted by laws and regulations, limited to the amount obtained by deducting the minimum liability amount prescribed by laws and regulations from the total amount of liability for damages. | Article 30 | The Company may, by resolution of the Board of Directors, exempt Corporate Auditors (including former Corporate Auditors) from liability for damages under Article 423, Paragraph 1 of the Companies Act, to the extent permitted by laws and regulations, limited to the amount obtained by deducting the minimum liability amount prescribed by laws and regulations from the total amount of liability for damages. |
|  | 2. Pursuant to Article 427, Paragraph 1 of the Companies Act, the Company may enter into an agreement with a Corporate Auditor limiting liability for damages arising from negligence in the performance of duties; provided, however, that the limit of liability under such agreement shall be the higher of either an amount predetermined to be no less than JPY 1,000,000 or the minimum liability amount prescribed by laws and regulations. |  | 2. Pursuant to Article 427, Paragraph 1 of the Companies Act, the Company may enter into an agreement with a Corporate Auditor limiting liability for damages arising from negligence in the performance of duties; provided, however, that the limit of liability under such agreement shall be the higher of either an amount predetermined to be no less than JPY 1,000,000 or the minimum liability amount prescribed by laws and regulations. |
|  |  | (Convocation of the Board of Corporate Auditors) | (Convocation of the Board of Corporate Auditors) |
|  |  | Article 31 | Notice of a meeting of the Board of Corporate Auditors shall be given to each Corporate Auditor at least three (3) days prior to the date of the meeting; provided, however, that this period may be shortened in cases of urgent necessity. |
|  |  |  | 2. A meeting of the Board of Corporate Auditors may be held without following the convocation procedures if all Corporate Auditors consent thereto. |
|  |  | (Rules of the Board of Corporate Auditors) | (Rules of the Board of Corporate Auditors) |
|  |  | Article 32 | Matters concerning the Board of Corporate Auditors shall be governed not only by laws and regulations and these Articles of Incorporation, but also by the Rules of the Board of Corporate Auditors established by the Board of Corporate Auditors. |

---

---

| | | |
|:---|:---|:---|
| Current Articles of Incorporation | Proposed Amendments | Proposed Amendments |
| No corresponding provision. | **Chapter 6 Accounting Auditor** | **Chapter 6 Accounting Auditor** |
|  | (Election of Accounting Auditor) | (Election of Accounting Auditor) |
|  | Article 33 | The Accounting Auditor shall be elected by resolution of the General Meeting of Shareholders. |
|  | (Term of Office of Accounting Auditor) | (Term of Office of Accounting Auditor) |
|  | Article 34 | The term of office of the Accounting Auditor shall expire at the conclusion of the Ordinary General Meeting of Shareholders relating to the final fiscal year ending within one (1) year after the election. |
|  |  | 2. Unless otherwise resolved at the Ordinary General Meeting of Shareholders referred to in the preceding paragraph, the Accounting Auditor shall be deemed to have been reappointed at such meeting. |
|  | (Remuneration, etc. of Accounting Auditor) | (Remuneration, etc. of Accounting Auditor) |
|  | Article 35 | The remuneration, etc. of the Accounting Auditor shall be determined by the Representative Director with the consent of the Board of Corporate Auditors. |
|  | (Exemption from Liability of Accounting Auditor) | (Exemption from Liability of Accounting Auditor) |
|  | Article 36 | The Company may, by resolution of the Board of Directors, exempt the Accounting Auditor (including former Accounting Auditors) from liability for damages under Article 423, Paragraph 1 of the Companies Act, to the extent permitted by laws and regulations, limited to the amount obtained by deducting the minimum liability amount prescribed by laws and regulations from the total amount of liability for damages. |
|  |  | 2. Pursuant to Article 427, Paragraph 1 of the Companies Act, the Company may enter into an agreement with the Accounting Auditor limiting liability for damages arising from negligence in the performance of duties; provided, however, that the limit of liability under such agreement shall be the higher of either an amount predetermined to be no less than JPY 1,000,000 or the minimum liability amount prescribed by laws and regulations. |

---

(Attachments)

<u>Business Report</u>

From April 1, 2025

To March 31, 2026

**<u>Statutory Financial Statements Prepared in Accordance with Japanese GAAP</u>**

Note: The statutory financial statements on the following pages have been prepared in accordance with Japanese GAAP. These results may differ in material respects from our audited consolidated financial results under U.S. GAAP that will be reported later and included in our Annual Report on Form 20-F, which will be filed with the U.S. Securities and Exchange Commission and available at www.sec.gov. The attached financial statements are provided to our shareholders and ADS holders solely in accordance with requirements under the Japanese Companies Act in connection with our Annual Meeting.

1. Current
 Status of the Company

&nbsp;&nbsp;&nbsp;&nbsp;(1) Progress
 and Results of the Project

During the current fiscal year, while the U.S. economy showed resilience in consumer spending and the employment market, significant regional disparities emerged due to factors such as the delayed recovery of the Chinese economy and concerns over an economic slowdown in Europe. As a result, the overall outlook remained uncertain. Furthermore, prolonged monetary tightening and ongoing geopolitical risks, coupled with exchange rate fluctuations, began to impact international trade.

In the domestic economy, a moderate recovery trend continued, driven by a recovery in consumer spending against the backdrop of improving employment and income conditions, as well as the expansion of inbound tourism demand. On the other hand, the environment surrounding corporate activities remains challenging, with issues such as a worsening labor shortage, persistently high resource and energy prices, and rising prices due to the weak yen.

Under these conditions, the Company has worked to secure sales opportunities while responding to changes in customer demand trends and shifts in regulatory and logistics environments in various countries, with the aim of stabilizing overseas transactions. At the same time, we have worked to strengthen our sales capabilities and improve operational efficiency at our domestic stores, striving to reinforce our earnings base.

As a result, for the current fiscal year, the Company's net sales amounted to 38,783,862 thousand yen (up 59.1% year-on-year), operating income was 309,111 thousand yen (up 39.7% year-on-year), and ordinary income was 193,321 thousand yen (up 688.9% year-on-year).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Fundraising
 Status

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① To
 fund working capital, we have borrowed 300,000,000 yen from Tokushin G.K. of which our Representative
 Director, Kanayama, serves as a representative partner.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Changes
 in Financial Position and Profit or Loss

(Unit: 1,000 yen)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Period \division | 17th period <br>Fiscal Year Ended March 2023 | 18th period <br>Fiscal Year Ended March 2024 | 19th period <br>Fiscal Year Ended March 2025 | 20th period <br>Fiscal Year Ended March 2026 |
| Sales | 21667575 | 25615177 | 24373722 | 38783862 |
| Ordinary Income | 192962 | 328353 | 24506 | 193321 |
| Net Income | △884,219 | 216417 | △90,736 | 39659 |
| Net Income per share(yen) | △24 | 5 | △2 | 1 |
| Total Asset | 22505180 | 21054009 | 18704887 | 30583696 |
| Net Worth | 4701910 | 5701950 | 5615656 | 5575316 |

---

Note: Net income per share is calculated based on the total number of shares issued at the end of the fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Issues
 to be addressed by the company

The business and financial issues that we should prioritize are as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ Improvement
 and Stabilization of Internal Control Systems To
 address the diversification of risks associated with our business expansion, we have been
 working to strengthen our internal control systems. Specifically, we have reviewed our business
 processes and ensured the thorough implementation and operation of internal controls, while
 also striving to raise compliance awareness and strengthen our risk management framework,
 thereby promoting the improvement and stabilization of our internal control systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ Restructuring
 the Business Model to Strengthen the Revenue Base As
 part of our efforts to achieve sustainable growth and improve profitability, we will review
 our operational structure and restructure our store strategy to improve the profitability
 of unprofitable stores in our domestic business. In our overseas business, we will work to
 stabilize existing transactions while promoting full-scale business expansion into Southeast
 Asia to expand our sales channels and strengthen our business foundation. Furthermore, to
 improve profitability across the entire company, we will work to improve profit margins by
 reviewing our product mix and transaction terms, and we will promote the restructuring of
 a sustainable business model.

To overcome the challenges outlined above, we will make every effort as a company. We ask for the continued guidance and support of our shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Principal
 Businesses (as of March 31, 2026)

Management of domestic drug stores

Domestic e-commerce operation and management

Domestic and overseas (including trading) wholesale

&nbsp;&nbsp;&nbsp;&nbsp;(6) Major
 business establishments and stores

Head Office 2-5-9 Kotobashi, Sumida-ku, Tokyo Harumi Building <br> Tokyo Sales Department 16F, Island Triton Square Office Tower W, 1-8-8 Harumi, Chuo-ku, Tokyo <br> Saitama Center 3-1-5 Koshigaya City Distribution Complex, Saitama

Subsidiary Offices

<u>trade name</u> <u>location</u> <br> Tokyo Lifestyle Limited Unit 11, 12/F., Wing On Plaza, No.62 Mody Road, Tsim Sha Tsui East, Kowloon

The names and locations of domestic drugstores are as follows

<u>Store Name</u> <u>location</u> <u>Store Name</u> <u>location</u> <br> Nishi Kasai Yokohama Chinatown Edogawa-Ku, Tokyo Yokohama City, Kanagawa Koshigaya-Ryutsudanchi Quiz Gate Urawa Nishi Kawaguchi Koshigaya City, Saitama Urawa City, Saitama Kawaguchi City, Saitama

&nbsp;&nbsp;&nbsp;&nbsp;(7) Status
 of employees (as of March 31, 2026)

<u>Number of Employees</u> <u>Change from the end of the previous fiscal year</u> <u>Average age</u> <u>Average length of service</u> <br> 85 -19 42 years and 5 months old 5 years 3 months

Note: The number of employees includes part-time workers (34).

&nbsp;&nbsp;&nbsp;&nbsp;(8) Status
 of important subsidiaries

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| | | | | |
|:---|:---|:---|:---|:---|
| Company Name | location | Paid-in Capital | Description of Business | Investment Ratio |
| Tokyo Lifestyle Limited | Hong Kong | HK$15.95 million | Wholesale & Retail Trade | 100％ |

---

&nbsp;&nbsp;&nbsp;&nbsp;(9) Major
 borrowers and borrowing amounts (as of March 31, 2026)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Commitment
 Line Agreement

(Unit: 1,000 yen)

---

| | | |
|:---|:---|:---|
| Loans | Outstanding Balance | Outstanding Balance |
| Mizuho Bank Ltd. |  | 1248614 |
| MUFG Bank Ltd. |  | 1025724 |
| Resona Bank, Inc. |  | 841096 |
| Sumitomo Mitsui Banking Corporation, Ltd. |  | 756986 |

---

---

| | | |
|:---|:---|:---|
| Note: | 1. | To procure stable and efficient working capital, the Company has entered into a commitment line agreement with a maximum borrowing amount of 7,850,000,000 yen. The agreement is a syndicated loan and is cofinanced by a total of 17 banks led by MUFG Bank, Ltd. and Mizuho Bank, Ltd. |

---

Note: 2. The outstanding balance of loans executed at the end of the fiscal year under this contract is 6,732,147,000 yen.

2. Status
 of Stocks (as of March 31, 2026)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Total
 number of shares authorized: 100,000,000 shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Total
 number of shares issued: 42,327,806 shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Number
 of shareholders: 3

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ Principal
 Shareholders

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| | | |
|:---|:---|:---|
| Name of Shareholder | Number of shares held | Percentage of shares held |
| THE BANK OF NEW YORK MELLON | 21,536,266 shares | 50.88% |
| Tokushin G.K. | 13,575,104 shares | 32.07% |
| Mei Kanayama | 7,216,436 shares | 17.05% |

---

NOTE: THE BANK OF NEW YORK MELLON IS A DEPOSITARY SECURITIES COMPANY THAT ISSUES AMERICAN DEPOSITARY RECEIPTS (ADR).

3. Matters
 Concerning the Company's Stock Acquisition Rights, etc. (as of March 31, 2026)

The total number of stock acquisition rights as of the end of the fiscal year under review is as follows.

&nbsp;&nbsp;&nbsp;&nbsp;(1) First
 series of stock acquisition rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Total
 number of stock acquisition rights: 300,000 units

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Type
 and number of shares subject to stock acquisition rights 300,000 shares of the Company's
 common stock represented by U.S. depositary shares in the U.S.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Amount
 paid for stock acquisition rights

US$0.01 divided by the number of Stock Acquisition Rights offered

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ Value
 of assets invested in the exercise of stock acquisition rights

US$4.80 per common stock

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑤ Period
 for exercising stock acquisition rights

From July 6, 2022, to January 7, 2027

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑥ Increased
 capital and capital reserves in the case of issuance of shares through the exercise of stock
 acquisition rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Amount
 of capital increased by the exercise of stock acquisition rights

The amount shall be one-half of the maximum amount of increase in capital, etc., calculated in accordance with the provisions of Article 17, Paragraph 1 of the Company Accounting Regulations, and if a fraction of less than 1 yen is obtained because of the calculation, the amount shall be rounded up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Amount
 of capital reserves to increase due to the exercise of stock acquisition rights

The amount shall be calculated in accordance with the provisions of Article 17, Paragraph 1 of the Company Accounting Regulations, minus the amount of capital increase from the maximum amount of increase in capital, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑦ Allottee
 of Stock Acquisition Rights - Univest Securities, LLC

&nbsp;&nbsp;&nbsp;&nbsp;(2) 2nd
 Series of Stock Acquisition Rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Total
 number of stock acquisition rights: 5,862,552

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Type
 and number of shares subject to stock acquisition rights

5,862,552 shares of the Company's common stock represented by U.S. depositary shares in the U.S.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Amount
 paid for stock acquisition rights

No payment required

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ Value
 of assets invested in the exercise of stock acquisition rights

US$0.27391 per common stock

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑤ Period
 for exercising stock acquisition rights

From January 30, 2024, to July 30, 2029

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑥ Increased
 capital and capital reserves in the case of issuance of shares through the exercise of stock
 acquisition rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Amount
 of capital increased by the exercise of stock acquisition rights

The amount shall be one-half of the maximum amount of increase in capital, etc., calculated in accordance with the provisions of Article 17, Paragraph 1 of the Company Accounting Regulations, and if a fraction of less than 1 yen is obtained because of the calculation, the amount shall be rounded up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Amount
 of capital reserves to increase due to the exercise of stock acquisition rights

The amount shall be calculated in accordance with the provisions of Article 17, Paragraph 1 of the Company Accounting Regulations, minus the amount of capital increase from the maximum amount of increase in capital, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;⑦ Assignee
 of Stock Acquisition Rights

---

| | |
|:---|:---|
| Assignee | Number of allocations |
| LIND GLOBAL FUND II LP | 746269 |
| S.H.N. FINANCIAL INVESTMENTS　LTD | 638669 |
| L1 CAPITAL GLOBAL OPPORTUNITIES MASTER FUND | 746269 |
| ALTO OPPORTUNITY MASTER FUND, | 746269 |
| INTRACOASTAL CAPITAL LLC | 746269 |
| CVI Investments, By: Heights Capital Management, Inc., | 746269 |
| Hudson Bay Master Fund Ltd. | 746269 |
| Empery Asset Master, LTD | 414861 |
| Empery Tax Efficient, LP | 147466 |
| Empery Tax Efficient III, LP | 183942 |

---

4. Matters
 Concerning Company Officers (as of March 31, 2026)

&nbsp;&nbsp;&nbsp;&nbsp;(1) Status
 of Directors and Corporate Auditors

---

| | | |
|:---|:---|:---|
| Position | Name | Status of responsibilities and important concurrent positions |
| President and Representative Director | Mei Kanayama | President & CEO |
| Director | Yoichiro Haga | Executive Officer, Administrative Departments |
| Director | Tetsuya Sato | Director, Japan International Medical Association<br> Representative Director, CBJ, Inc. |
| Director | Yoji Takenaka | Lawyer |
| Corporate Auditor | Keiichi Kimura | Administrative scrivener |

---

Note: 1. Directors Tetsuya Sato and Yoji Takenaka are outside directors as defined in Article 2, Item 15 of the Companies Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Tadao
 Iwamatsu and Junji Sato resigned from their positions as auditors effective as of the Annual
 General Meeting of Shareholders held on June 27, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Total
 amount of remuneration, etc. of officers for the current fiscal year

(Unit: 1,000 yen)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | | Total amount by type of<br> remuneration, etc. | Total amount by type of<br> remuneration, etc. | Total amount by type of<br> remuneration, etc. |
| District | Number of<br> members | Total amount<br> of<br> remuneration, etc. | Monetary<br> Rewards | Performance- linked<br> remuneration, etc. | Non- monetary<br> remuneration, etc. |
| Director | 4 persons | 55200 | 55200 |  |  |
| (Outside Directors) | (2 persons) | (7200) | (7200) |  |  |
| Corporate Auditor | 3 persons | 4150 | 4150 |  |  |
| (Outside Corporate Auditors) | (2 persons) | (900) | (900) |  |  |
| Total | 7 persons | 59350 | 59350 |  |  |
| (Outside Officers) | (4 persons) | (8100) | (8100) |  |  |

---

---

| | | |
|:---|:---|:---|
| Note: | 1. | The maximum amount of remuneration for directors was resolved to be 150,000,000 yen per year at the Ordinary General Meeting of Shareholders held on May 26, 2021. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The
 maximum amount of remuneration for Board of Corporate Auditors was resolved to be 30,000,000
 yen per year at the Extraordinary General Meeting of Shareholders held on October 19, 2021.

5. System
 to ensure the appropriateness of business operations (as of March 31, 2026)

&nbsp;&nbsp;&nbsp;&nbsp;(1) System
 to ensure that the execution of duties by directors and employees complies with laws and
 regulations and the Articles of Incorporation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Directors
 of the Company and its subsidiaries shall comply with laws and regulations and Articles of
 Incorporation and promote the establishment of a compliance system.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Directors
 of the Company and its subsidiaries shall establish a compliance system to ensure that employees
 comply with laws and regulations and the Articles of Incorporation and shall manage and supervise
 the status of compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Board
 of Corporate Auditors Members shall investigate the status of the compliance system and whether
 there are any problems with laws and regulations or the Articles of Incorporation, and report
 to the Board of Directors. The Board of Directors shall periodically review the compliance
 system and strive to identify problems and make improvements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ The
 Company shall establish rules for whistleblowing and establish a whistleblowing system to
 promptly report and consult with directors and employees of the Company and its subsidiaries
 if they discover an act that is suspected of violating laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;(2) System
 for the storage and management of information related to the execution of duties by directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Information
 related to the execution of duties by directors shall be prepared and stored in accordance
 with laws and regulations and internal regulations, etc., by establishing document management
 regulations, etc. In addition, if necessary, the Company shall manage the information in
 a state where it can be viewed by Directors, Corporate Auditors, Accounting Auditors, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② The
 status of the creation, storage, and management of information related to the execution of
 duties by directors shall be audited by Corporate Auditors.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Regulations
 and other systems related to the management of the risk of loss

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① The
 Company shall formulate the Basic Rules for Risk Management as the basis of the risk management
 system for the entire Group and establish a risk management system in accordance with the
 Regulations. In addition, in the event of an unforeseen situation, the Company shall establish
 a Crisis Management Committee chaired by the President and Representative Director and shall
 establish a system to prevent and minimize the spread of damage by responding promptly with
 the advice of legal advisors and others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Directors
 and employees shall organize the content of their duties with regard to risk management in
 each department, grasp, analyze, and evaluate inherent risks, consider and implement appropriate
 measures, and periodically review the status of such risk management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Corporate
 Auditors shall audit the status of risk management in each division and report the results
 to the Board of Directors. The Board of Directors shall periodically review the risk management
 system and strive to identify problems and improve them.

&nbsp;&nbsp;&nbsp;&nbsp;(4) System
 to ensure efficient execution of duties by directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① With
 the aim of increasing corporate value, we will work to achieve our goals based on a business
 plan formulated based on our corporate philosophy, and manage the progress of our goals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② In
 addition to the regular Board of Directors meeting (once a month), extraordinary meetings
 of the Board of Directors shall be held as necessary as the basis of the system to ensure
 that the execution of duties by directors is carried out efficiently.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ The
 Company shall establish various internal regulations, such as the Regulations on the Segregation
 of Duties, the Regulations on Administrative Authority and Decision-Making Authority, and
 establish a system for the proper and efficient execution of duties by clarifying the authority
 and responsibilities of each officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ The
 Company shall supervise the establishment and operation of internal control systems at its
 subsidiaries to ensure a balance between ensuring the efficiency and promptness of the execution
 of duties by directors.

&nbsp;&nbsp;&nbsp;&nbsp;(5) System
 to ensure the appropriateness of business operations of the corporate group consisting of
 the Company and its subsidiaries

To ensure the appropriate business operations of the entire Group, including subsidiaries, we will strive to build a compliance system for the entire Group.

&nbsp;&nbsp;&nbsp;&nbsp;(6) System
 for employees who assist the duties of Corporate Auditors and the independence of such employees
 from Directors;

Matters concerning the effectiveness of instructions to the employees

Employees who assist in the duties of the Corporate Auditors shall be assigned to assist the Corporate Auditors when requested, and the consent of Corporate Auditor shall be obtained for the transfer and evaluation of such employees.

&nbsp;&nbsp;&nbsp;&nbsp;(7) System
 for directors and employees to report to Corporate Auditors, other systems for reporting
 to Corporate Auditors, and other systems to ensure that audits by Corporate Auditors are
 conducted effectively

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Directors
 and employees of the Company and its subsidiaries shall immediately report to the Corporate
 Auditors of the Company any fact that may cause significant damage to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Corporate
 Auditors shall attend important meetings of the Board of Directors, etc. and receive reports
 from the directors of the Company and its subsidiaries on the status of the execution of
 the duties for which they are responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Corporate
 Auditors may inspect important documents related to the execution of business, such as approval
 documents, and request explanations from directors and employees of the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ Corporate
 Auditors and Representative Director shall hold regular meetings to exchange opinions in
 order to promote mutual communication.

&nbsp;&nbsp;&nbsp;&nbsp;(8) To
 ensure that people who report to the Corporate Auditors are not treated unfavorably because
 of such reports system

The Company and its subsidiaries shall prohibit any person who reports unfavorably to a person who has reported to the Corporate Auditors on the grounds that he or she has made a report and shall ensure that this is fully informed.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Matters
 concerning procedures for advance payment or reimbursement of expenses incurred in the execution
 of duties by Corporate Auditors and other policies related to the processing of expenses
 or liabilities incurred in the execution of such duties

When a Corporate Auditors requests advance payment or reimbursement of expenses incurred in the execution of his/her duties, we will respond promptly.

&nbsp;&nbsp;&nbsp;&nbsp;(10) Basic
 Approach to the Elimination of Anti-Social Forces and Status of Development

To ensure sound corporate management, we will take a resolute stance against antisocial forces.

Our basic policy is not to have any relationship whatsoever.

The General Affairs Department is the department that oversees the response to anti-social forces, and the General Manager is responsible for it. In addition, we work closely with external organizations such as corporate lawyers, the police, and the Federation of Special Violence Prevention Measures under the jurisdiction of the Metropolitan Police Department to develop a system and collect information that enables the organization to respond promptly, and to thoroughly educate employees.

6. Overview
 of the operational status of the system to ensure the appropriateness of business operations

The Company has established a system to ensure the appropriateness of business operations, and the Board of Directors and other meetings continuously identify and analyze management risks and consider countermeasures. As a result, we review internal regulations and operations as necessary to improve the effectiveness of the internal control system. In addition to audits by Corporate Auditors, Corporate Auditors also attend important internal meetings to monitor the status of business execution and risks related to compliance. In addition, we regularly conduct internal audits to verify that our day-to-day operations do not violate laws and regulations, the Articles of Incorporation, internal regulations, etc.

<u>Financial statements</u>

<u>**Balance Sheet**</u>

As of March 31, 2026

(Unit: 1,000 yen)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| Accounts | Amount | Amount | Accounts | Amount |
| **Current Assets** |  | **20751282** | **Current Liabilities** | **23840527** |
| &nbsp;&nbsp;&nbsp;Cash & deposits |  | 251215 | Accounts payable | 16022856 |
| &nbsp;&nbsp;&nbsp;Accounts receivable |  | 17697613 | Short-term borrowings | 6910459 |
| &nbsp;&nbsp;&nbsp;Products |  | 1954805 | Long-term loans to be repaid within one year | 168220 |
| &nbsp;&nbsp;&nbsp;Previous payment |  | 13962 | Payables | 151203 |
| &nbsp;&nbsp;&nbsp;For prepayment |  | 11020 | Accrued expenses | 3314 |
| Short-term loans |  | 178312 | Advance payments | 329278 |
| Reimbursement |  | 300292 | Deposit | 5565 |
| Unearned money |  | 139007 | Accrued corporate taxes, etc. | 219353 |
| &nbsp;&nbsp;&nbsp;Accrued refundable consumption tax, etc. |  | 383612 | Accrued consumption tax, etc. | 9783 |
| &nbsp;&nbsp;&nbsp;Allowance for bad debts | △ | 178560 | Short-term lease obligations | 12953 |
| **Fixed Assets** |  | **9819604** | Bonus allowance | 1507 |
| Property, plant and equipment |  | 152079 | Point allowance | 221 |
| &nbsp;&nbsp;&nbsp;Facilities attached to the building |  | 212441 | Contractual liabilities | 5810 |
| &nbsp;&nbsp;&nbsp;Vehicle transport equipment |  | 9090 | **Fixed Liabilities** | **1167851** |
| &nbsp;&nbsp;&nbsp;Tools, Equipment, and Fixtures |  | 116111 | Long-term borrowings | 500000 |
| &nbsp;&nbsp;&nbsp;Tangible leased assets |  | 82707 | Deposit | 31922 |
| Accumulated depreciation | △ | 268271 | Long-term payables | 54334 |
| Intangible Assets |  | 208631 | Long-term lease obligations | 13878 |
| &nbsp;&nbsp;&nbsp;Intangible leased assets |  | 3813 | Provision for retirement benefits | 45763 |
| Software |  | 204818 | Asset retirement obligations | 75359 |
| Investments and other assets |  | 9458894 | Deferred tax liabilities | 446593 |
| Investment |  | 2010 | &nbsp;&nbsp;&nbsp;**Total Liabilities** | **25008379** |
| Deposit |  | 120022 | **Equity** |  |
| Deposit |  | 104048 | Accounts | Amount |
| Insurance reserve fund |  | 27342 | **Shareholders' Equity** | **5575305** |
| Recycling deposits |  | 8 | Paid-in capital | 10000 |
| Long-term upfront costs |  | 1804 | Capital surplus | 3655033 |
| Long-term unearned income |  | 1622183 | Capital reserve | 3655033 |
| Shares of affiliated companies |  | 682673 | Retained earnings | 9458894 |
| Long-term accounts receivable |  | 6984870 | Other retained earnings | 1910271 |
| Allowance for bad debts | △ | 86070 | Retained earnings carried forward | 1910271 |
| **Deferred Assets** |  | **12808** | **Stock Acquisition Rights** | **11** |
| Share grant costs |  | 12808 | &nbsp;&nbsp;&nbsp;**Total Equity** | **5575316** |
| &nbsp;&nbsp;&nbsp;**Total Assets** |  | **30583696** | &nbsp;&nbsp;&nbsp;**Total Liabilities and Equity** | **30583696** |

---

<u>**Statement of income**</u>

From April 1, 2025

To March 31, 2026

(Unit: 1,000 yen)

---

| | | | |
|:---|:---|:---|:---|
| Accounts | Amount | Amount | Amount |
| **Sales** |  |  | **38783862** |
| **Cost of Goods Sold** |  |  | **36161287** |
| &nbsp;&nbsp;&nbsp;**Gross Profit** |  |  | **2622575** |
| **Selling, General and Administrative Expenses** |  |  | **2313464** |
| &nbsp;&nbsp;&nbsp;**Operating Profit** |  |  | **309111** |
| **Non-Operating Income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest income and dividends | 7717 |  |  |
| &nbsp;&nbsp;&nbsp;Foreign exchange gain | 26 |  |  |
| &nbsp;&nbsp;&nbsp;Miscellaneous income | 104921 |  | 112665 |
| **Non-Operating Expenses** |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 177711 |  |  |
| &nbsp;&nbsp;&nbsp;Deferred asset amortization | 15369 |  |  |
| &nbsp;&nbsp;&nbsp;Loan fees | 29928 |  |  |
| &nbsp;&nbsp;&nbsp;Miscellaneous loss | 5446 |  | 228456 |
| &nbsp;&nbsp;&nbsp;**Ordinary Income** |  |  | **193321** |
| **Extraordinary Profits** |  |  |  |
| &nbsp;&nbsp;&nbsp;Gain on sale of fixed assets | 378569 |  | 378569 |
| **Extraordinary Losses** |  |  |  |
| &nbsp;&nbsp;&nbsp;Loss on cancellation of lease | 5582 |  |  |
| &nbsp;&nbsp;&nbsp;Consumption taxes for prior periods | 378873 |  | 384456 |
| **Net income before income taxes** |  |  | **187434** |
| &nbsp;&nbsp;&nbsp;Corporate tax, resident tax and business tax |  |  | 219353 |
| &nbsp;&nbsp;&nbsp;Adjustment of corporate income taxes |  | △ | 71579 |
| **Net Income** |  |  | **39659** |

---

<u>**Statement of Changes in net assets**</u>

From April 1, 2025

To March 31, 2026

(Unit: 1,000 yen)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | | | |
|  | | Capital Surplus | Capital Surplus | Retained Earnings | Retained Earnings | Retained Earnings | Retained Earnings | | | | | |
|  | | | | Other retained earnings | Other retained earnings | | | | | | | |
|  |<br>Paid-in Capital |<br>Capital Reserve |<br>Total capital Surplus | Retained earnings carried forward | Retained earnings carried forward | Total Retained Earnings | Total Retained Earnings | Total<br> Shareholders' Equity | Total<br> Shareholders' Equity |<br><br>Stock <br> Acquisition <br> Rights | Total <br> Equity | Total <br> Equity |
| April 1, 2025 Balance | 10000 | 3655033 | 3655033 |  | 1950611 |  | 1950611 |  | 5615644 | 11 |  | 5615656 |
| Fluctuations during the fiscal year |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  |  |  |  | 39659 |  | 39659 |  | 39659 |  |  | 39659 |
| Dividends from Surplus |  |  |  | △ | 79999 | △ | 79999 | △ | 79999 |  | △ | 79999 |
| Items other than shareholders' equity During the fiscal year Variable Amount (Net) |  |  |  |  |  |  |  |  |  |  |  |  |
| During the fiscal year Total Variable Amount |  |  |  | △ | 40339 | △ | 40339 | △ | 40339 |  | △ | 40339 |
| March 31, 2026 Balance | 10000 | 3655033 | 3655033 |  | 1910271 |  | 1910271 |  | 5575305 | 11 |  | 5575316 |

---

<u>Note to Individual Securities</u>

1. Notes
 on Important Accounting Policy Matters

&nbsp;&nbsp;&nbsp;&nbsp;(1) Valuation
 Criteria and Methods of Securities <br>
 Shares of subsidiaries and affiliates......... Cost method based on moving average method

&nbsp;&nbsp;&nbsp;&nbsp;(2) Inventory
 Valuation Criteria and Methods<br>
 Cost method based on moving average method <br>
 (Balance sheet value is calculated by the method of devaluation due to a decrease in profitability.)

&nbsp;&nbsp;&nbsp;&nbsp;(3) Method
 of depreciation of fixed assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;① Property,
 plant and equipment (excluding leased assets)

Declining Ratio Method (provided, however, that buildings acquired on or after April 1, 1998 (excluding ancillary facilities) and

Facilities and structures attached to buildings acquired on or after April 1, 2016, are subject to the straight-line method.

The main service life is as follows:

---

| | |
|:---|:---|
| Building | 38～50 years |
| Facilities attached to the building | 3～18 years |
| Construct | 10～30 years |
| Vehicle Transporter | 2～7 Years |
| Tools, Fixtures and Fixtures | 2～20 years |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;② Leased
 Assets

Leased assets related to finance and lease transactions other than the transfer of ownership

We use a straight-line method in which the lease period is the useful life and the residual value is zero.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Criteria
 for recording allowances

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Allowance
 for doubtful debts

To prepare for losses due to bad debts, we record the expected number of uncollectible receivables based on the actual rate of bad debts for general receivables and the recoverability of specific receivables such as receivables of doubtful concerns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Allowance
 for bonuses

To prepare for the payment of bonuses for employees, we have recorded an estimated amount corresponding to the current fiscal year out of the estimated amount to be paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;③ Provision
 for retirement benefits

To prepare for retirement benefits for employees, based on the retirement benefit obligations at the end of the current fiscal year, the amount that is recognized as occurring is recorded.

Retirement benefit obligations are calculated based on the amount of voluntary payment at the end of the fiscal year stipulated in the retirement allowance regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;④ Point
 Allowance

Of the Company's points issued under the point system for the purpose of sales promotion, they are not attributable to sales.

The amount expected to be used in the future is recorded based on the actual rate of use in the past, etc., for the unused amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Criteria
 for Recording Revenues and Expenses

Our main business is the sale of cosmetics and daily necessities, and the sale of These products are related to the delivery at the time of delivery, the customer has acquired control over the goods and has determined that the performance obligations have been satisfied. Therefore, we are aware of the revenue at the time of delivery of the product. In addition, the revenue goes to contracts with customers. It is measured by the amount obtained by deducting returns, discounts, rebates, etc. from the promised consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Other
 important matters that form the basis for the preparation of financial statements Accounting
 for consumption tax, etc.

Consumption tax and other accounting procedures are based on the tax-exclusive method.

2. Notes
 on Revenue Recognition

&nbsp;&nbsp;&nbsp;&nbsp;(1) Decomposition
 of earnings

Our company operates wholesale, retail, e-commerce, and franchise businesses both domestically and internationally. The primary types of goods and services offered in each of these businesses include daily necessities, cosmetics, pharmaceuticals, consumer electronics, luxury goods, and trading card games.

---

| | | |
|:---|:---|:---|
| Sales of each business | Domestic wholesale | 12,199,589 thousand yen |
|  | Domestic e-commerce | 555,999 thousand yen |
|  | Domestic retail | 738,743 thousand yen |
|  | Overseas wholesale | 24,730,535 thousand yen |
|  | Franchise business | 558,995 thousand yen |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) Information
 that forms the basis for understanding earnings

This is as described in the "Accounting Standards for Revenues and Expenses" section of "Notes on Important Accounting Policies."

3. Notes
 on the Balance Sheet

&nbsp;&nbsp;&nbsp;&nbsp;(1) Monetary
 claims and liabilities to affiliated companies

---

| | |
|:---|:---|
| Accounts receivable | 7,491,260 thousand yen |
| Short-term loan | 178,312 thousand yen |
| Reimbursement | 300,000 thousand yen |
| Unearned money | 1,620 thousand yen |
| Deposit | 64,900 thousand yen |
| Payable | 1,025 thousand yen |
| Long-term borrowings | 300,000 thousand yen |

---

(2) Financial obligations to directors Payable 25,722 thousand yen

&nbsp;&nbsp;&nbsp;&nbsp;4. Notes
 on the Income Statement

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Turnover with affiliated companies |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turnover by operating transactions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales | 8,963,490 thousand yen |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase amount | 10,354 thousand yen |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 188,348 thousand yen |
| Turnover of non-business transactions | 15,265 thousand yen |

---

5. Notes
 on the Statement of Changes in Shareholders' Equity

&nbsp;&nbsp;&nbsp;&nbsp;① Type
 and total number of shares issued as of the end of the current fiscal year

Common stock 42,327,806 shares

&nbsp;&nbsp;&nbsp;&nbsp;② The
 type and number of shares for the purpose of stock acquisition rights (excluding those for
 which the first day of the exercise period has not arrived) as of the end of the fiscal year
 under review.

Common stock 6,162,552 shares

6. Notes
 on Tax Effect Accounting

&nbsp;&nbsp;&nbsp;&nbsp;(1) Breakdown
 of deferred tax assets and liabilities by major causes

---

| | |
|:---|:---|
| (Deferred Tax Assets) |  |
| Paid Business Establishment Tax | &nbsp;&nbsp;&nbsp;&nbsp;278 thousand yen |
| Allowance for bad debts | 33,302 thousand yen |
| Bonus allowance | &nbsp;&nbsp;&nbsp;&nbsp;534 thousand yen |
| Point Allowance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 thousand yen |
| Commodity Valuation Loss | -4,916 thousand yen |
| Asset retirement obligations | 26,701 thousand yen |
| Provision for retirement benefits | 16,215 thousand yen |
| Deferred tax asset subtotal | 72,193 thousand yen |
| Valuation allowance | -71,302 thousand yen |
| Total deferred tax assets | &nbsp;&nbsp;&nbsp;&nbsp;891 thousand yen |
| (Deferred Tax Liabilities) |  |
| Retirement costs corresponding to asset retirement | -10,330 thousand yen |
| Input tax |  |
| Damages Received | -437,154 thousand yen |
| Total deferred tax liabilities | -447,484 thousand yen |
| Net deferred tax liabilities | -446,593 thousand yen |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) Revision
 of the amount of deferred tax assets and deferred tax liabilities due to changes in the rate
 of corporate tax, etc.

In conjunction with the introduction of the Special Defense Corporation Tax (effective for fiscal years beginning on or after April 1, 2026), deferred tax assets and deferred tax liabilities related to temporary differences expected to be resolved in the following fiscal year or later are calculated using a statutory effective tax rate of 35.43%, up from 34.59%.As a result of this change, deferred tax liabilities (net of deferred tax assets) for the current fiscal year increased by 10,626 thousand yen, and the income tax adjustment increased by the same amount.

7. Notes
 on Financial Instruments

&nbsp;&nbsp;&nbsp;&nbsp;(1) Matters
 related to the status of financial instruments

Borrowings are used for working capital (mainly short-term) and capital investment funds (long-term).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Matters
 related to the market value of financial instruments

As of March 31, 2026 (the closing date of the current fiscal year), the balance sheet amount, market value, and the difference between these amounts are as follows.

In addition, notes are omitted for cash, and notes are omitted for deposits, accounts receivable, accounts payable, and short-term borrowings because they are settled in a short period of time, so the market value approximates the book value.

(Unit: 1,000 yen)

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| | | | |
|:---|:---|:---|:---|
|  | Amount recorded on the balance sheet (\*1) | Market price(\*1) | Difference |
| Long-term borrowings (\*2) | (668220) | (663478) | 4741 |

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(\*1) Liabilities are shown in parentheses.

(\*2) Includes long-term loans that are scheduled to be repaid within one year.

(Note 1) How to calculate the market value of a financial instrument

<u>Debt</u>

Long-term borrowings

The market value of the long-term borrowing period is calculated by discounting the total amount of principal and interest by the interest rate expected if the same new borrowing were made.

In addition, among long-term loans, those with variable interest rates are based on the book value because the market interest rate is reflected in the short term (within one year) and the market value is approximate to the book value unless the Company's credit position differs significantly after execution.

(Note 2) Amount recorded on the balance sheet of stocks without market prices

(Unit: 1,000 yen)

<u>Ledger Accounts</u> <u>Balance sheet</u> <br> Shares of affiliated companies 682,673

Shares of affiliated companies are not subject to market value disclosure because they do not have a market price.

8. Notes
 on Related Party Transactions

&nbsp;&nbsp;&nbsp;&nbsp;(1) Parent
 Company and Major Corporate Shareholders

(Unit: 1,000 yen)

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Relationship | &nbsp;&nbsp;Name of company, etc. | &nbsp;&nbsp;Voting rights, etc.<br> Ownership Percentage | &nbsp;&nbsp;Details of the transaction | &nbsp;&nbsp;Trading Subjects | &nbsp;&nbsp;Transaction Amount | &nbsp;&nbsp;Accounts | &nbsp;&nbsp;Balance at the end of the period |
| &nbsp;&nbsp;Major Shareholder<br> (Corporation, etc.) | &nbsp;&nbsp;Tokushin G.K. | &nbsp;&nbsp;By all direct<br> 32.07% | &nbsp;&nbsp;Secondment fee<br> Vehicle rental expenses<br> Borrowing of funds | &nbsp;&nbsp;Selling, general<br> and administrative expenses<br> Interest expense | &nbsp;&nbsp; <br> 13904<br> 953424 | &nbsp;&nbsp;Payables<br> Long-term borrowings | &nbsp;&nbsp;1025<br> 300000 |

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Transaction conditions and policy for determining transaction conditions, etc.

(Note 1) Prices and other terms and conditions are determined through price negotiations, etc., considering market performance.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Subsidiaries
 and Affiliates, etc.

(Unit: 1,000 yen)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Relationship | &nbsp;&nbsp;Name of company, etc. | &nbsp;&nbsp;Voting rights, etc.<br> Ownership Percentage | &nbsp;&nbsp;Details of the transaction | &nbsp;&nbsp;Trading Subjects | &nbsp;&nbsp;Transaction Amount | &nbsp;&nbsp;Accounts | &nbsp;&nbsp;Balance at the end of the period |
| &nbsp;&nbsp;Subsid-iary | &nbsp;&nbsp;Tokyo<br> Lifestyle<br> Limited | &nbsp;&nbsp;Owned Directly<br> 100% | &nbsp;&nbsp;Purchase of goods<br> Sale of goods<br> Direct store expenses<br> Trademark fees<br> Lending of funds | &nbsp;&nbsp;Cost of goods sold<br> Sales<br> Selling, general<br> and administrative expenses<br> Miscellaneous income<br> Interest income | &nbsp;&nbsp;920<br> 8963057<br>154480<br> 7346<br> 5520 | &nbsp;&nbsp;Accounts receivable<br> Short-term loans<br> Reimbursement<br> Unearned money | &nbsp;&nbsp; <br> 7491260<br> 178312<br> 300000<br> 1620 |
| &nbsp;&nbsp;Affiliated Companies | &nbsp;&nbsp;Dinner Bank<br> corporation | &nbsp;&nbsp;without | &nbsp;&nbsp;Purchase of goods<br> Sale of goods<br> Rent expenses and others<br> Secondment fee | &nbsp;&nbsp;Cost of goods sold<br> Sales<br> Selling, general<br> and administrative expenses<br> Miscellaneous income | &nbsp;&nbsp;9434<br> 433<br>19963<br> 1445 | &nbsp;&nbsp;Unearned money<br> Deposit<br> Payables | &nbsp;&nbsp;128582<br> 64900<br> 172 |

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Transaction conditions and policy for determining transaction conditions, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Note) Prices and other terms and conditions are determined through price negotiations, etc., considering market performance.

9. Notes
 on Fixed Assets to be Used by Lease

In addition to fixed assets recorded on the balance sheet, some of the office equipment, etc.

It is used under a finance lease agreement outside the transfer of ownership.

10. Notes
 on Per Share Information

(1) Net
 assets per share 131.72
 yen

(2) Net
 income per share 0.94
 yen

11. MISCELLANEOUS
 NOTES

The listed amount is rounded down to the nearest 1,000 yen.

**Appendix**

From April 1, 2025

To March 31, 2026

1. Itemization
 of property, plant and equipment and intangible assets (including depreciation expenses recorded
 on investments and other assets)

(Unit: 1,000 yen)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Category | &nbsp;&nbsp;Asset's<br> Species | &nbsp;&nbsp;Period Leader<br> Book value | &nbsp;&nbsp;Period<br> Amount of increase | &nbsp;&nbsp;Period<br> Amount of reduction | &nbsp;&nbsp;Period<br> Depreciation amount | &nbsp;&nbsp;End of Period<br> Book value | &nbsp;&nbsp;Impairment loss<br> Cumulative amount | &nbsp;&nbsp;Depreciation<br> Cumulative amount | &nbsp;&nbsp;End of Period<br> Acquisition price |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Building | &nbsp;&nbsp;370888 | &nbsp;&nbsp;- | &nbsp;&nbsp;359829 | &nbsp;&nbsp;11059 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Facilities attached to the building | &nbsp;&nbsp;205416 | &nbsp;&nbsp;- | &nbsp;&nbsp;71927 | &nbsp;&nbsp;24698 | &nbsp;&nbsp;108789 | &nbsp;&nbsp;- | &nbsp;&nbsp;103651 | &nbsp;&nbsp;212441 |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;structure | &nbsp;&nbsp;25501 | &nbsp;&nbsp;- | &nbsp;&nbsp;23562 | &nbsp;&nbsp;1938 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Vehicle transport equipment | &nbsp;&nbsp;657 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;219 | &nbsp;&nbsp;437 | &nbsp;&nbsp;- | &nbsp;&nbsp;8652 | &nbsp;&nbsp;9090 |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Tools, Equipment, and Fixtures | &nbsp;&nbsp;31338 | &nbsp;&nbsp;1211 | &nbsp;&nbsp;- | &nbsp;&nbsp;10063 | &nbsp;&nbsp;22486 | &nbsp;&nbsp;- | &nbsp;&nbsp;93624 | &nbsp;&nbsp;116111 |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;land | &nbsp;&nbsp;340148 | &nbsp;&nbsp;- | &nbsp;&nbsp;340148 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Tangible Leased Assets | &nbsp;&nbsp;23471 | &nbsp;&nbsp;12660 | &nbsp;&nbsp;5895 | &nbsp;&nbsp;9871 | &nbsp;&nbsp;20365 | &nbsp;&nbsp;- | &nbsp;&nbsp;62341 | &nbsp;&nbsp;82707 |
| &nbsp;&nbsp;Solid Capital Production | &nbsp;&nbsp;Total | &nbsp;&nbsp;997422 | &nbsp;&nbsp;13872 | &nbsp;&nbsp;801363 | &nbsp;&nbsp;57851 | &nbsp;&nbsp;152079 | &nbsp;&nbsp;- | &nbsp;&nbsp;268271 | &nbsp;&nbsp;420351 |
| &nbsp;&nbsp;Intangible<br> fixed asset | &nbsp;&nbsp;Intangible Leased Assets | &nbsp;&nbsp;11728 | &nbsp;&nbsp;- |  | &nbsp;&nbsp;7915 | &nbsp;&nbsp;3813 |  |  |  |
| &nbsp;&nbsp;Intangible<br> fixed asset | &nbsp;&nbsp;software | &nbsp;&nbsp;260677 | &nbsp;&nbsp;- |  | &nbsp;&nbsp;55859 | &nbsp;&nbsp;204818 |  |  |  |
| &nbsp;&nbsp;Intangible<br> fixed asset | &nbsp;&nbsp;Total | &nbsp;&nbsp;272406 | &nbsp;&nbsp;- |  | &nbsp;&nbsp;63774 |  |  |  |  |
| &nbsp;&nbsp;Investments & Others<br> Capital | &nbsp;&nbsp;Long-term upfront costs | &nbsp;&nbsp;3538 | &nbsp;&nbsp;- | &nbsp;&nbsp;1539 | &nbsp;&nbsp;194 | &nbsp;&nbsp;1804 |  |  |  |
| &nbsp;&nbsp;Investments & Others<br> Capital | &nbsp;&nbsp;Total | &nbsp;&nbsp;3538 | &nbsp;&nbsp;- | &nbsp;&nbsp;1539 | &nbsp;&nbsp;194 | &nbsp;&nbsp;1804 |  |  |  |

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2. Statement
 of Allowance

(Unit: 1,000 yen)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Accounts | Period Length Remaining High | Increments for the current fiscal year | Reduction in the current period | End of Period Remaining High |
| Allowance for bad debts | 151440 | 113190 |  | 264630 |
| Bonus allowance | 3087 | 1507 | 3087 | 1507 |
| Point Allowance | 421 | 221 | 421 | 221 |
| Provision for retirement benefits | 37005 | 12587 | 3829 | 45763 |

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3. Breakdown of selling, general and administrative expenses

(Unit: 1,000 yen)

---

| | | | |
|:---|:---|:---|:---|
| Accounts | Current <br> Balance | Current <br> Balance | Description |
| Advertising expenses |  | 22678 |  |
| Sales promotion expenses |  | 43800 |  |
| Packing charges |  | 411828 |  |
| Amount of point provision | △ | 199 |  |
| Product inventory disposal loss |  | 99 |  |
| Executive compensation |  | 59350 |  |
| Salary allowance |  | 361788 |  |
| Provision for bonuses |  | 4181 |  |
| Statutory benefits |  | 46279 |  |
| Benefit expenses |  | 686 |  |
| Depreciation |  | 121626 |  |
| Repair costs |  | 980 |  |
| Hygiene costs |  | 1396 |  |
| Consumables costs |  | 10378 |  |
| Utilities |  | 11401 |  |
| Travel　expenses |  | 41932 |  |
| Commission and fees |  | 795878 |  |
| Taxes and dues |  | 16639 |  |
| Entertainment expenses |  | 66097 |  |
| Insurance premiums |  | 16436 |  |
| Communication costs |  | 3438 |  |
| Membership fees |  | 153 |  |
| Cost of vehicles |  | 13259 |  |
| Lease fee |  | 4485 |  |
| Ground rent |  | 118054 |  |
| Advisory fees |  | 8200 |  |
| Meeting fees |  | 915 |  |
| Retirement benefit costs |  | 12587 |  |
| Miscellaneous expenses |  | 672 |  |
| Amortization of long-term prepaid expenses |  | 194 |  |
| Provision for bad debts |  | 113190 |  |
| Performance variance |  | 5048 |  |
| Total Selling, General and Administrative Expenses |  | 2313464 |  |

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