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CONSOLIDATED FINANCIAL REPORT ( Japanese GAAP )
NINE - MONTH PERIOD OF THE FISCAL YEAR ENDING
FEBRUARY 2 8 , 20 2 5
( March 1, 20 2 4 to November 30 , 20 2 4 ) January 10 , 20 2 5
YONDOSHI HOLDINGS INC. is listed on the Prime Market of the Tokyo Stock Exchange under the securities code number
8008.
Representative: Hidetoshi Masuda , President and Representative Director
Inquiries: Masahiko Nishimura , Managing Director , Managing Executive Officer
responsible for Operations
Tel: +81 - 3 - 5719 - 3 295
URL: http s :// yondoshi .co.jp /
Dividend payme nt commencement date (planned): —
Supplemental materials prepared for quarterly financial results: No
Holding of quarterly financial results meeting: No
(Millions of yen rounded down)
1. Consolidated Operating Results for the Nine - Month Period of Fiscal 20 2 4
(March 1, 20 2 4 to N o vember 30 , 20 2 4 )
(1) Consolidated Operating Results (Cumulative)
(Percentage figures are the increase / (decrease) for the corresponding period of the previous fiscal year.)
Net sales Operating Income Ordinary Income Profit attributable to
owners of parent
Millions of yen % Millions of yen % Millions of yen % Millions of yen %
FY20 2 4
Nine - Month Period 2 9 , 193 1. 7 1, 152 (13.8) 1, 468 (11.7) 1,008 9.5
FY20 2 3
Nine - Month Period 28,697 1.0 1,337 28.0 1,663 25.2 921 24.5
Note: Comprehensive income FY20 2 4 Nine - Month Period : 1, 324 million yen ( - 13.2 %)
FY 2 0 2 3 Nine - Month Period: 1,526 million yen ( - %)
Net Income
per Share
Net Income per
Share after Dilution
Yen Yen
FY20 24
Nine - Month Period 4 7.02 —
FY20 2 3
Nine - Month Period 42.96 —
(Reference) Operating income before the amortization of goodwill:
FY 20 2 4 Nine - Month Period : ¥ 1, 524 million FY 20 23 Nine - Month Period : ¥ 1,709 million
The Company considers operating income before the amortization of goodwill to be an important management indicator.
(2) Consolidated Financial Position
Total Assets Net Assets Net Assets to Total
Assets Net Assets per Share
Millions of yen Millions of yen % Yen
November 30 , 20 2 4 5 2,664 3 8 , 162 72.4 1, 7 76 . 87
February 2 9 , 20 2 4 50, 643 38, 596 76. 2 1,7 98 . 49
(Reference)Shareholders ’ equity: November 30 , 20 2 4 : 3 8 , 142 million yen February 2 9 , 20 2 4 : 38 , 577 million yen
2. Dividends
Dividends per Share
(Record Date) End of 1 Q End of 2Q End of 3Q Year - end Annual
Yen Yen Yen Yen Yen
Fiscal 20 2 3 — 4 1 . 5 0 — 4 1 . 5 0 8 3 .00
Fiscal 20 2 4 — 4 1 . 5 0 —
Fiscal 20 2 4
(Forecast) 4 1 . 5 0 83 .00
Note: Revision to the most recently announced cash dividend forecast: No
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3. Forecasts of Consolidated Operating Results for th e Fiscal Year Ending February 2 8 , 20 2 5
(March 1, 20 2 4 to February 2 8 , 20 2 5 )
( % figures for the full fiscal year represent year - on - year increase or decrease )
Net Sales Operating Income Ordinary Income Profit attributable
to owners of parent
Net Income
per Share
Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen
Fiscal year
ending
February 2 8 ,
20 2 5
46,000 16.6 2,100 0.2 2,500 ( 0.6 ) 1 , 40 0 7.6 6 5.06
Note: Revision to the most recently announced operating results forecast: Yes
(Reference) Forecast EPS before the amortization of goodwill for the full FY 20 2 4 is ¥ 8 8.13 .
Notes
(1) Significant C hanges in the S cope of C onsolidation during the Period: No
(2) Application of Special Accounting Practices in the Preparation of the Quarterly Consolidated
Financial Statements : Yes
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements
1 ) Changes of accounting principles in line with revisions to accounting and other standards: No
2 ) Changes of accounting principles other than 1) above: No
3 ) Changes in accounting estimates: No
4 ) Retrospective restatement : No
(4) Number of Shares Issued and Outstanding (Common Stock)
1. Total number of shares issued and outstanding (including treasury stock) as of the period - end:
November 30 , 20 2 4 : 2 4,331,356 shares Feb. 2 9 , 20 2 4 : 2 4,331,356 shares
2. Total number of treasury stock as of the period - end:
November 30 , 20 2 4 : 2,8 65 , 396 shares Feb. 2 9 , 20 2 4 : 2,88 1 , 696 shares
3. Average number of shares for the period (Cumulative total for the quarterly consolidated
period)
FY 20 2 4 Nine - Month Period : 21,4 60 , 008 shares FY 20 2 3 Nine - Month Period : 21,443,218 shares
Note: The number of recorded treasury stock includes 1 21 , 668 of the Company’ shares held by the Shares Grant
Trust for Officers as of the end of the third quarter of the fiscal year.
* Review of the Japanese - language originals of the attached consolidated quarterly financial statements by
certified public accountants or an audit firm: Non e
* Explanation concerning the p roper u se of o perating r esults f orecasts and o ther r elevant s pecific i tems
1. The forecasts of operating results and other items concerning the future contained in this document are
based on management ’ s assumptions and beliefs that are determined to be reasonable in light of
currently available information, YONDOSHI HOLDINGS INC. cauti ons readers that due to a variety
of factors actual results may differ materially from forecasts. F or the assumptions that underpin
operating results forecasts as well as cautionary notes on the use of operating resu lts forecasts, please
refer to “ 1. Qualitative Information on Quarterly Res ults (3) Explanation of Consolidated Results
Forecasts and Other Future Predictions ” on page 5 .
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Contents
1. Qualitative Information on Quarterly Results 4
(1) Explanation of Business Results 4
(2) Explanation of Financial Condition 4
(3) Explanation of Consolidated Results Forecasts and Other Future Predictions 5
2 . Consolidated Quarterly Financial Statements and Major Notes 5
(1) Consolidated Quarterly Balance Sheet s 6
(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of
Comprehensive Income
8
Consolidated Quarterly Statements of Income Third Quarter Cumulative 8
Consolidated Quarterly Statements of Comprehensive Income Third Quarter Cumulative 9
( 3 ) Notes to Consolidated Quarterly Financial Statements 10
( Notes Regarding Going Concern Assumptions ) 10
( Notes Regarding Substantial Changes in Shareholders’ Equity ) 10
(Application of Special Accounting Treatment in the Preparation of the Consolidated
Financial Statements)
(Changes in Accounting Policies) 10
(Additional Information) 10
(Notes to the C onsolidated Q uarterly S tatements of C ash F lows) 10
( Segment Information ) 1 1
(Matters R elated to R evenue R ecognition) 1 2
( Material Subsequent Events) 1 2
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1. Qualitative Information on Quarterly Results
(1) Explanation of Business Results
During the third quarter cumulative period (March 1, 2024, to November 30, 2024) of fiscal 2024 (ending
February 2025), the Japanese economy trended toward moderate recovery, with improvement in corporate
earnings, employment conditions and incomes. Nevertheless, the outlook for the future remains uncertain
because of higher raw material costs, rising prices due to the depreciation of the yen, and heightened
geopolitical risks.
In the retail sector, spending on high - ticket items remained firm, and demand from inbound tourism
expanded. However, wage increases have not kept pace with the rise in commodity prices, and with
improvement in real wages lagging, consumers continue to fo cus on saving money and lower prices,
leading to more widespread polarization of consumption.
Under such circumstances, during the fiscal year ending February 2025, the initial year of the 7th
Medium - Term Management Plan, YONDOSHI HOLDINGS Group, with a basis on responding to the
business environment, is focusing on value provided to customers, an d implementing various measures
to establish a foundation for dynamic future growth. In addition, the Company practiced sustainable
management to establish a highly trusted corporate group, and worked to enhance enterprise value by
strengthening internal c ontrols, providing shareholder returns, and making medium - to long - term
investments linked to earnings growth.
As a result, net sales for the subject third quarter cumulative period amounted to ¥29,193 million (up
1.7% from the same period of the previous fiscal year), with operating income of ¥1,152 million (down
13.8%), ordinary income of ¥1,468 million (down 11 .7%), and profit attributable to owners of parent to
¥1,008 million (up 9.5%). Operating income before the amortization of goodwill, which the Company
considers to be an important management indicator, amounted to ¥1,524 million (down 10.8%).
Operating results by business segment were as follows. Of note, the segment name “Jewelry Business”
was changed to “Brand Business” with a view to expansion into new business areas.
Brand Business
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. Through
merchandising reforms to expand product ranges by tast e, and proactively taking steps for brand
promotion, sales to female customers continued to expand , despite the overall revenue decline .
As a result, net sales in the Brand Business segment amounted to ¥10,594 million (down 9.3% from
the same period of the previous fiscal year), with operating income of ¥500 million (down 16.8%), for
declines in both revenue and earnings.
Apparel Business
Retailer age Co., Ltd., operator of the everyday fashion brand PALETTE, continued to increase sales on
proactive opening of new stores, five in the Kanto region and five in the Kansai region, along with growth
at existing locations.
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.
As a result, net sales in the Apparel Business segment amounted to ¥18,598 million (up 9.3% from the
same period of the previous fiscal year), with operating income of ¥1,016 million (down 5.7%), for a
revenue gain with earnings decline.
(2) Explanation of Financial Condition
Total assets at the end of the subject third quarter cumulative period (November 30, 2024) amounted to
¥52,664 million, an increase of ¥2,021 million from the end of the previous fiscal year (February 29,
2024). This was due mainly to an increase of ¥1,249 million in merchandise and finished goods, and an
increase of ¥ 820 million in notes and accounts receivable – trade. Total liabilities amounted to ¥14,502
million, an increase of ¥2,454 million from the end of the previous fiscal year. This was due mainly to an
increase of ¥ 1,083 million in notes and accounts payable – trade, an increase of ¥ 439 million in
electronically recorded obligations – operating , and an increase of ¥600 million in short - term borrowings.
Total net assets at the end of the subject period amounted to ¥38,162 million, a decrease of ¥433 million
from the end of the previous fiscal year.
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(3) Explanation of Consolidated Results Forecasts and Other Future Predictions
For matters related to the full - year consolidated results forecast for the fiscal year ending February 2025,
please refer to “Notice of Revision of Results Forecast” released today (January 10, 2025).
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2 . Consolidated Quarterly Financial Statements and Major Notes
(1) Consolidated Quarterly Balance Sheet s
( Millions of yen)
End of the Fiscal Year Ended
February 2 9 , 20 2 4
(As of February 29 , 20 2 4 )
End of the Third Quarter of
the Fiscal Year End ing
February 2 8 , 20 2 5
(As of November 30 , 20 2 4 )
ASSETS
Current assets:
Cash and deposits 1, 579 2, 105
Notes and accounts receivable ― trade 2, 905 3, 726
Merchandise and f inished goods 8 , 080 9, 330
Work in process 108 106
Raw materials and supplies 430 228
Other current assets 842 503
Allowance for doubtful accounts (5) ( 4 )
Total current assets 13, 941 15, 996
Noncurrent assets:
Property, plant and equipment :
Buildings and structures , net 4,027 4, 031
Land 5,839 5,839
Other, net 449 4 07
Total property, plant and equipment 10, 316 10, 279
Intangible assets:
Goodwill 1, 241 868
Other intangible assets 483 4 60
Total intangible assets 1,724 1, 329
Investments and other assets:
Investment securities 20 , 530 2 0 , 842
Net defined benefit asset 443 468
Other 3,733 3 , 797
Allowance for doubtful accounts (47) ( 47 )
Total investments and other assets 2 4 , 660 2 5 , 060
Total noncurrent assets 36, 701 3 6 , 668
Total assets 50, 643 5 2 , 664
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5. (要約)四半期連結財務諸表 ( Millions of yen)
End of the Fiscal Year Ended
February 2 9 , 20 2 4
(As of February 29 , 20 2 4 )
End of the Third Quarter of
the Fiscal Year End ing
February 2 8 , 20 2 5
(As of November 30 , 20 2 4 )
LIABILITIES
Current liabilities:
Notes and accounts payable ― trade 2, 369 3, 452
Electronically recorded obligations – operating 6 9 9 1,138
Short - term loans payable - 600
Income taxes payable 252 442
Provision for bonuses 271 309
Provision for directors' bonuses 48 45
Asset retirement obligations 86 28
Other 1,878 1,965
Total current liabilities 5, 605 7,981
Noncurrent liabilities:
Provision for share - based remuneration for directors (and
other officers)
243 2 6 8
Retirement benefit liability 494 4 74
Asset retirement obligations 979 9 27
Other 4, 724 4, 850
Total noncurrent liabilities 6, 441 6, 520
Total liabilities 12 , 047 1 4 , 502
NET ASSETS
Shareholders ’ equity:
Capital stock 2,486 2,486
Capital surplus 7,1 78 7,178
Retained earnings 3 0 , 567 29 , 785
Treasury stock ( 6,1 23 ) ( 6, 091 )
Total shareholders ’ equity 34, 109 33, 359
Other accumulated comprehensive income:
Valuation difference on available - for - sale securities 4, 857 5 , 171
Deferred gains or losses on hedges 8 ( 5 )
Revaluation reserve for land ( 233 ) ( 233 )
Remeasurements of defined benefit plans ( 165 ) ( 150 )
T otal other accumulated comprehensive income 4 , 467 4, 782
Subscription rights to shares 18 20
Total net assets 38, 596 3 8 , 162
Total liabilities and net assets 50, 643 5 2 , 664
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(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of
Comprehensive Income
Consolidated Quarterly Statement s of Income
Third Quarter Cumulative
( Millions of yen)
Nine - Month Period of the
Fiscal Year End ed
February 2 9 , 20 24
( March 1, 20 23 to
November 30 , 20 23 )
Nine - Month Period of the
Fiscal Year Ending
February 2 8 , 20 2 5
( March 1, 20 2 4 to
November 30 , 20 2 4 )
Net sales 28,697 2 9,193
Cost of Sales 14,530 1 5,307
Gross profit 14,167 1 3,885
Selling, general and administrative expenses 12,830 12, 733
Operating income 1,337 1, 152
Non - operating income
Interest income 110 1 08
Dividends received 182 1 08
Foreign exchange gains 11 9
Other 24 19
Total non - operating income 329 32 5
Non - operating expenses
Interest expenses 1 0
Commission expenses ― 7
Loss on cancellation of insurance policies 0 ―
Other 0 1
Total non - operating expenses 2 9
Ordinary income 1,663 1, 468
Extraordinary income
Gain on sales of investment securities 152 541
Total extraordinary income 152 541
Extraordinary loss
Impairment loss 148 1 2 8
Loss on closing of stores 60 11
Building demolition expenses ― 177
Other ― 0
Total extraordinary losses 208 318
Net i ncome before income taxes 1,607 1,6 91
Total income taxes 686 68 2
Net income 921 1,008
Profit attributable to owners of parent 921 1,008
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Consolidated Quarterly Statements of Comprehensive Income
Third Quarter Cumulative
( Millions of yen)
Nine - Month Period of the
Fiscal Year End ed
February 2 9 , 20 24
( March 1, 20 23 to
November 30 , 20 23 )
Nine - Month Period of the
Fiscal Year Ending
February 28 , 20 2 5
( March 1, 20 2 4 to
November 30 , 20 2 4 )
Income before minority interests 921 1,008
Other comprehensive income
Other v aluation difference on available - for - sale securities 607 314
Deferred gains or losses on hedges (11) ( 14 )
Foreign currency translation adjustments (2) ―
Remeasurements of defined benefit plans, net of tax 12 15
Total other comprehensive income 605 315
Comprehensive income 1,526 1, 324
Comprehensive income attributable to
Comprehensive income attributable to owners of the parent 1,526 1, 324
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(3) Notes to Consolidated Quarterly Financial Statements
(Notes Regarding Going Concern Assumptions)
Not applicable
(Notes Regarding Substantial Changes in Shareholders’ Equity)
Not applicable
(Application of Special Accounting Treatment in the Preparation of the Consolidated Financial
Statements)
(Calculation of Tax Expense)
Tax expense has been calculated by rationally estimating the effective tax rate after the application
of tax effect accounting for profit before income taxes in the consolidated fiscal year, including the
subject third quarter period, and multiplying this estimated effective tax rate by profit before income
taxes.
(Changes in Accounting Policies)
Not applicable
(Additional Information)
(Stock Compensation Plan for Directors)
Under its 68th annual shareholders meeting held on May 17, 2018 , t he Company introduce d a stock
compensation plan (hereinafter, the “Plan”), with eligible persons the Company’s directors (excluding
directors who are audit and supervisory committee members) and directors who are audit and
supervisory committee members (excluding outside direc tors), as well as directors and corporate
auditors (excluding outside corporate auditors) of the Company’s major group companies from
November 28, 2018 .
i. Summary of the transaction
The Plan is a stock compensation plan to grant the Company’s shares to eligible directors of eligible
companies in accordance with rules for granting trust - based stock compensation to corporate officers
as determined by the eligible companies. The Company will contribute funds to the trust, and the trust
will use these funds to acquire the Company’s shares, and grant them to eligible directors. In principle,
directors and other officers will receive the Company’s shares at the time of retirement.
ii. The Company’s own shares held in the Trust
The Company’s own shares held in the Trust are recorded as treasury stock under net assets at their
book value in the Trust (excluding the amount of ancillary expenses). The book value and number o f
shares of such treasury stock was ¥ 255 million , for 132,170 shares at the end of the previous
consolidated fiscal year , and ¥2 34 million , for 1 21 , 688 shares at the end of the third quarter of the
subject consolidated fiscal year.
( Notes to the C onsolidated Q uarterly S tatements of C ash F low )
Consolidated quarterly statements of cash flows have not been prepared for the subject third quarter
cumulative period . Depreciation expenses (including amortization expenses related to intangible assets
excluding goodwill ) and a mortization of goodwill pertaining to the subject third quarter cumulative
period are as follows.
( Millions of yen)
Nine - Month Period of the
Fiscal Year End ed February 2 9 , 20 24
( March 1, 20 23 to November 30 , 20 23 )
Nine - Month Period of the
Fiscal Year Ending February 28 , 20 2 5
( March 1, 20 2 4 to November 30 , 20 2 4 )
Depreciation expenses 520 490
A mortization of goodwill 372 372
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( Segment Information )
Ⅰ The nine - month period of the fiscal year end ed February 2 9 , 20 2 4
(March 1, 20 2 3 to November 30 , 20 2 3 )
1. Information Regarding Sales and Income or Loss by Reporting Segment
( Millions of yen)
Reporting Segments Adjustment
amount
(Note 1)
Amount recorded
on consolidated
quarterly
statement s of
income (Note 2)
Brand Business Apparel Business Total
Net sales
Revenue from c ontracts
with c ustomers 11,632 16,359 27,992 ― 27,992
Other revenue (Note 3) 54 650 705 ― 705
Net sales to outside
customers 11,687 17,010 28,697 ― 28,697
Intrasegment net sales
and transfers 0 88 88 ( 88 ) ―
Total 11,687 17,098 28,785 ( 88 ) 28,697
Segment income 601 1,078 1,679 ( 342) 1,337
Notes:
1. The adjustment amount of minus ¥ 324 million for segment income mainly includes amortization of goodwill totaling
minus ¥ 372 million , general administrative expenses that are not attributable to individual reporting segments amounting
to minus ¥ 385 million and elimination of inter - segment transactions of ¥ 415 million . C orporate expenses are primarily
general administrative expenses not attributable to reporting segments.
2. Segment income figures have been adjusted to operating income on the consolidated quarterly income statement s .
3. “ Other revenue” is real estate lease revenue.
2. Information Regarding Impairment Loss of Fixed Assets, Goodwill and Related Items by
Reporting Segment
(Material loss on impairment of fixed assets)
The Company recorded a loss on impairment of fixed assets in the Brand Business segment. The amount recorded
for this impairment loss was ¥ 1 2 4 million.
Ⅱ The nine - month period of the fiscal year end ing February 2 8 , 20 2 5
(March 1, 20 2 4 to November 30 , 20 2 4 )
1. Information Regarding Sales and Income or Loss by Reporting Segment
( Millions of yen)
Reporting Segments Adjustment
amount
(Note 1)
Amount recorded
on consolidated
quarterly
statement s of
income (Note 2)
Brand Business Apparel Business Total
Net sales
Revenue from c ontracts
with c ustomers 1 0,539 1 7,979 2 8,518 ― 2 8,518
Other revenue (Note 3) 54 6 19 674 ― 674
Net sales to outside
customers 1 0 , 594 1 8,598 2 9,193 ― 2 9,193
Intrasegment net sales
and transfers 0 101 102 ( 102 ) ―
Total 1 0 , 594 1 8 , 700 2 9,295 ( 102 ) 2 9,193
Segment income 500 1,0 16 1, 517 ( 3 65 ) 1, 152
Notes:
1. The adjustment amount of minus ¥ 3 65 million for segment income mainly includes amortization of goodwill totaling
minus ¥ 372 million , general administrative expenses that are not attributable to individual reporting segments amounting
to minus ¥ 3 74 million and elimination of inter - segment transactions of ¥ 381 million . C orporate expenses are primarily
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general administrative expenses not attributable to reporting segments.
2. Segment income figures have been adjusted to operating income on the consolidated quarterly income statement s .
3. “ Other revenue” is real estate lease revenue.
2. Changes to Reportable Segments, etc.
From the subject fiscal year , the name of the “ Jewelry Business ” segment was changed to “ Brand Business. ” The
change in segment name does not affect the segment information. Of note, the reportable segments for the
corresponding period of the previous fiscal year are also shown under the changed name.
3. Information Regarding Impairment Loss of Fixed Assets, Goodwill and Related Items by
Reporting Segment
(Material loss on impairment of fixed assets)
The Company recorded a loss on impairment of fixed assets in the Apparel Business segment. The amount recorded
for this impairment loss was ¥ 92 million.
(Matters R elated to R evenue R ecognition)
Information analyzing the revenue resulting from contracts with customers is presented in “Notes
(Segment information)”.
(Material Subsequent Events)
(Business combination through share acquisition)
The Company, at a meeting of its Board of Directors held on October 11, 2024, resolved to acquire shares
of RASIN Co., Ltd. (hereinafter, “RASIN”) and make it a subsidiary. A share purchase agreement was
concluded on October 11, 2024.
Based on this agreement, the Company acquired 97.2% of RASIN shares on December 2, 2024.
1. Overview of the Business Combination
(1) Name of the acquired company and details of its business
Name of the acquired company : RASIN Co., Ltd.
D etails of business : Sale and purchase of watches, and corporate sales of watches
(2) Purpose of the share acquisition
RASIN is a company with a wealth of experience and proven performance in the reuse industry. It
operates a reuse business that specializes in the handling of luxury brand watches, with three stores in
Japan, as well as a salon in Ginza specializing in purchasin g.
The reuse industry is expected to continue to grow steadily in the future due to shifting consumer
values toward the realization of a sustainable world. The addition of RASIN to YONDOSHI
HOLDINGS Group will create new levels of value that transcend the Group’s existing business
domains, and establish a structure more responsive to diverse needs.
The Company decided to acquire the shares of RASIN to expand its business domains and increase
added value in the Brand Business, as well as achieve substantial earnings growth for the Group, and
secure a stable and robust business portfolio.
(3) Date of the business combination
December 2, 2024
(4) Legal form of the business combination
Share acquisition
(5) Name of the combined company
The name is unchanged.
(6) Percentage of voting rights acquired
97.2%
(7) Main rationale for the acquisition
The main rationale stemmed from the acquisition of shares by the Company in consideration of cash.
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2. Breakdown of acquisition costs and types of consideration
Consideration for acquisition: Cash 10,492 million yen
Acquisition cost: 10,492 million yen
3. Details and amount of main acquisition - related expenses
Remuneration and fees for advisory services: 3 7 million yen
4. Amount of goodwill accrued, cause of accrual, amortization method, and amortization period
Not confirmed at this time.
5. Amount of assets and liabilities accepted on the date of the business combination, and the main
breakdown
Not confirmed at this time.