Tsi Holdings Co., Ltd. · TSE:3608

Tsi — FY2017 Earnings Presentation

14 slides from Tsi's earnings presentation, Apr 14, 2017

1. Slide 1: Results Briefing: 2017 Ending February

   Results Briefing: 2017 Ending February 2017.4.14

2. Slide 2: I. Results Overview

   I. Results Overview 2 TSI HOLDINGS CO., LTD. All Rights Reserved.

3. Slide 3: Consolidated Financial Highlights - Profit and Loss

   Consolidated Financial Highlights -Profit and Loss- Achieved the highest profits since the establishment of the holdings by improving gross profit (Unit: Million Yen) Previous 2017 Ending Feb. FY Composition Composition Y/Y Against Results Results Y/Y Rate Rate Change Plan Net Sales 167,211 100.0% 1

4. Slide 4: Victory Formula

   Victory Formula (Unit: Million Yen) 2017 Ending Feb. Accounting Item Content Result Results E-commerce sales growth Net Sales E-Commerce +29.4% Y/Y 159,143(Y/Y 95.2%) Cost of Direct Trading Last FY results 11.8% 72,776(Y/Y 92.0%) Goods Sold Ratio →12.9% at 2017 Ending Feb. ・Set KPI for yield ratio a

5. Slide 5: Sales Overview

   Sales Overview Net sales of continuing brands(excluding closed brands and others) was 104.0% Y/Y (Unit: Million Yen) Net Sales Increased Brands Continuing Brands Comparison • nano・universe ①Financial Net Sales ②Monthly Revenue (All Stores) • NATURAL BEAUTY BASIC TOP10 • MARGARET HOWELL 104.0％ • PEAR

6. Slide 6: Brands Overview

   Brands Overview 6 brands’ net sales increased and 8 brands’ gross profit ratio improved Y/Y (Unit: Million Yen) Previous 2017 Ending Feb. Y/Y FY Sales Gross Profit Sales Gross Profit Gross Profit Brand Sales Composition Ratio Composition Ratio Ratio 1 nano･universe 22,810 13.6% 56.6% 27,153 17.1% 52

7. Slide 7: Operating Profit Y/Y Increase Factors

   Operating Profit Y/Y Increase Factors In addition to structural reform, strong domestic companies absorbed the struggled and increased profit significantly (Unit: Million Yen) 7 TSI HOLDINGS CO., LTD. All Rights Reserved.

8. Slide 8: II. 2018 Ending February: Outlook

   II. 2018 Ending February: Outlook 8 TSI HOLDINGS CO., LTD. All Rights Reserved.

9. Slide 9: Business Results Forecast for FY2018 Ending Feb.

   Business Results Forecast for FY2018 Ending Feb. Plan: net sales 160 billion yen(Y/Y 100.5%) and operating income 3 billion yen(Y/Y 125.9%) (Unit: Million Yen) 1st Half 2nd Half FY 2017 Ending Feb. 2018 Ending Feb. 2017 Ending Feb. 2018 Ending Feb. 2017 Ending Feb. 2018 Ending Feb. Results Plan Y/Y

10. Slide 10: III. Reference Data

    III. Reference Data 10 TSI HOLDINGS CO., LTD. All Rights Reserved.

11. Slide 11: Domestic Comparable-Store Sales Rate

    Domestic Comparable-Store Sales Rate Y/Y 2016 Ending Feb. 2017 Ending Feb. TOP10 : 95.2% TOP10 : 101.5% TSI ALL: 96.4% TSI ALL: 98.9% Month 2015 2016 2017 Y/Y TOKYO STYLE : 99.4% TOKYO STYLE : 91.3% SANEI-INTERNATIONAL: 99.5% SANEI-INTERNATIONAL: 92.7% Month 2015 2016 2017 11 TSI HOLDINGS CO., LTD.

12. Slide 12: Net Sales Per Channel

    Net Sales Per Channel (Unit: Million Yen) Previous 2017 Ending Feb. FY Composition Composition Composition Rate Results Results Y/Y Rate Rate Y/Y Change Department Stores 39,349 23.5% 33,062 84.0% 20.8% -2.8pt Commercial Facilities(*1) 81,638 48.8% 78,857 96.6% 49.6% +0.7pt E-Commerce 19,684 11.8% 2

13. Slide 13: Number of Stores

    Number of Stores 2016 Ending Feb. Q3RD 2017 Ending Feb. Store Open Store Close 2017 Ending Feb. # of stores 1,331 1,231 6 94 1,143 Domestic Change -70 -4 -88 # of Stores 227 197 1 3 195 Overseas Change -1 -17 -2 # of Stores 1,558 1,428 7 97 1,338 Total Change -71 -21 -90 *Number indicated on "Change

14. Slide 14:  Descriptions contained in this document such as earnings forecast are based on the

     Descriptions contained in this document such as earnings forecast are based on the information that the company obtains on the date of this report and certain assumptions deemed to be reasonable. Actual earnings may differ materially from various future factors.  The amounts given in this materia

TSI Holdings — FY2017 Earnings Presentation on 6ix