The 74th Annual Meeting of Shareholders was held at Osaki Bright Core Hall in Tokyo on Thursday, May 30, with all agenda items approved and passed without delay. I would like to express my sincere gratitude to our shareholders for their continued support.
  The fiscal year ending February 2025 will be the first year of the newly launched Seventh Medium-Term Management Plan. We have labeled the three-year period of this plan “Challenge for Future – Toward 2030.” Premised on responding to changes in the business environment, we will pursue added value in the products and services we provide to customers, and build a foundation for dynamic future growth.
  In our core Brand Business, to respond to the diverse values of women, we are restructuring our portfolio along the lines of taste and style, and presenting a multifaceted “4°C worldview” from both product and promotion perspectives.
  In the Apparel Business, we plan to open 10 new PALETTE stores per year, and will steadily expand the number of stores in the Kanto area.
 For the fiscal year ending February 2025, we have set numerical targets of consolidated net sales of ¥4,100 million, with operating income of ¥2,350 million, ordinary income of ¥2,800 million, and profit attributable to owners of parent of ¥1,600 million. We will proactively implement various measures with the aim of increasing operating income and ordinary income for a third consecutive year.

　In the first quarter period of FY2/25 (March 1, 2024, to May 31, 2024), net sales amounted to ¥9,693 million (up 1.1% from the corresponding period of the previous fiscal year), with operating income of ¥542 million (down 25.5%), ordinary income of ¥655 million (down 22.9%), and profit attributable to owners of parent to ¥525 million (up 4.6%). This represents a fourth consecutive period of gains in both revenue and net profit. Although operating income and ordinary income decreased, these results were mostly in line with plan.
  By business segment, the F.D.C. Products Group, which handles the Brand Business, is working to strengthen its foundation by revising product and sales promotion strategies to expand support among female customers. With the aim of rebuilding its portfolio along the lines of taste and style, F.D.C. Products Group increased the number of directors, and began product planning under a new structure. The company is also broadening its product range by sales channel, pursuing type-based merchandising.
  In the Apparel Business, retail company age Co., Ltd., operator of the everyday fashion brand PALETTE, was impacted by low temperatures in early spring and other types of unseasonable weather in certain areas, but overall sales increased on new store openings. Apparel manufacturing and wholesaler The AS’TY Group, drawing on its strength in overseas production bases, expanded measures with major business partners, leading to positive performance in both revenue and earnings.
  Going forward, we will continue to aim for sustainable growth by providing products and services that exceed customer expectations. Thank you for your continued support and encouragement of YONDOSHI HOLDINGS Group.