Consolidated net sales for the first half of FY2/24 (March 1, 2023, to August 31, 2023) amounted to ¥19,110 million (up 3.2% from the corresponding period of the previous fiscal year), with operating income of ¥1,069 million (up 65.7%), ordinary income of ¥1,284 million (up 56.2%), and profit attributable to owners of parent of ¥696 million (up 35.7%).
  The business environment for YONDOSHI HOLDINGS Group continued to improve, with a feel of modest recovery as economic activity returns to normal following the easing of restrictions implemented in response to the COVID-19 pandemic. Nevertheless, the outlook for the future remains uncertain, including concerns that price increases to meet rising costs, and monetary policies in Europe and the United States, will negatively impact the Japanese economy.
  By business segment, The F.D.C. Products Group, which handles the Jewelry Business, made steady progress with business restructuring that improved its profit margins. Sales of fashion jewelry at existing stores rose from the previous fiscal year on efforts to broaden the base of female customers, and new customer development. Sales through the continually expanding e-commerce channel remained positive, registering double-digit growth.
  Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, recorded a year-on-year increase in sales at existing stores, which along with a boost from opening new stores, drove top line growth. Apparel manufacturing and wholesaler The AS’TY Group expanded measures with major businesses through the overseas production bases that are its core strength, registering substantial growth in both revenue and earnings.

　While consumer spending has been recovering, the business environment for YONDOSHI HOLDINGS Group remains tenuous, as wage increases have not kept pace with the increase in commodity prices, leading to concerns about the future recovery in consumption.
　In the Jewelry Business, in addition to the steady progress of priority measures for fashion jewelry, sales through e-commerce channels continue to expand, and sales to male customers are recovering. We also have high expectations for the Christmas shopping season. We will continue our efforts for brand promotion and other initiatives to enhance brand value over the medium to long term.
　In the Apparel Business, YONDOSHI HOLDINGS Group plans to open nine new locations of the everyday fashion brand PALETTE during the second half. We will continue to open 10 stores per year, aiming to reach a total of 100 stores. For apparel manufacturing, we will leverage our production base in Bangladesh to gain advantages in terms of quality and cost, and boost sales.

　YONDOSHI HOLDINGS Group recognizes that returning profits to shareholders is an important management issue, and has established a policy of enhancing the level of shareholder returns through stable and continuous dividends and flexible share buybacks. We have set a target dividend on equity (DOE) ratio of 4% or higher as an indicator to clarify the realization of this policy.
  While one of the Company’s longer-term goals is to pay a dividend of 100 yen per share in the future, for the subject fiscal year we plan to pay an annual dividend of 83 yen per share, including the interim and year-end dividend.
　Thank you for your continued support and understanding of YONDOSHI HOLDINGS Group.