Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025（PDF / 646KB）

Note : 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.

Summary of Consolidated Financial Results for the Second Quarter (Interim Period)

of the Fiscal Year Ending March 2025 [Japanese standards]

Scheduled date to file semi-annual securities report: November 14, 2024 Scheduled date to start distributing dividends: November 27, 2024

Preparation of supplementary material on financial results: Yes

1. Consolidated financial results for the Second quarter (Interim Period) of the fiscal year ending March 2025 (From April 1, 2024 to September 30, 2024)

(1) Consolidated financial results

(Note) Comprehensive income: Six months ended Sep. 30, 2024: (936) million yen [ -%]

(Note) Revision to the most recently announced dividend forecast: Yes

Breakdown of year-end dividend for the fiscal year ended March 31, 2024: Ordinary dividend: 60.00 yen Commemorative dividend: 5.00 yen

3. Consolidated forecast for the fiscal year ending March, 2025 (From April 1, 2024 to March 31, 2025)

(Note) Revision to the most recently announced Consolidated forecast: Yes

(Note) For details, please refer to “(3) Notes to the Interim Consolidated Financial Statements (Application of special accounting methods for interim consolidated financial statements)” on page 10.

(Note) For details, please refer to “(3) Notes to the Interim Consolidated Financial Statements (Notes on Changes in Accounting Policies)” on page 10.

1. Number of outstanding shares (common shares)
1. Number of shares outstanding at the end

(Note) The number of treasury shares at the end of the period includes the Company's shares owned by the trust accounts (399,136 shares for Q2 FY/3 2025 and 328,400 shares for FY/3 2024) as trust assets pertaining to the "Stock Benefit Trust (J-ESOP / BBT-RS)”. In addition, the Company's shares held in the trust account are included in the Treasury shares that is deducted in the calculation of the average number of shares during the period (354,472 shares for Q2 FY/3 2025 and 331,550 shares for Q2 FY/3 2024).

• The second quarter (interim) financial results are outside the scope of the audit by certified public accountants or audit firm.
• Explanation of forecasts of operations and other notes

(Notes on forward-looking statements)

The earnings forecasts and other forward-looking statements contained in this document are based on information currently available to the Company and on certain assumptions deemed reasonable by the Company. The Company does not guarantee that these forecasts will be achieved. Actual results may differ significantly due to a variety of factors. Please refer to" Explanation of Consolidated Earnings Forecasts and Other Forward-looking Statements " on page 5 of the Appendix for the assumptions used in the forecasts and notes on the use of the forecasts.

(How to obtain supplementary materials for financial results)

The Company plans to hold a briefing for institutional investors and analysts (online) on Tuesday, November 19, 2024. The financial results briefing materials distributed at this briefing will be posted on the Company's website on the same day.

(Reference) Non-Consolidated Forecast

Non-Consolidated forecast for the fiscal year ending March, 2025 (From April 1, 2024 to March 31, 2025)

(Percentages are in comparison with the same period of the previous year.)

(Note) Revision to the most recently announced forecast: Yes

Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

○ Contents

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Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

1. Overview of Operating Results

(1) Overview of Operating Results for the Period under Review

Matters concerning the future in the text are based on the judgment of the Group as of the end of the current interim consolidated fiscal year under review.

(Notes) Net sales and Segment income or loss by segment (operating income or loss) are figures before the elimination of inter- segment transactions.

During the current interim consolidated accounting period (from April 1, 2024 to September 30, 2024), the Japanese economy is expected to continue its gradual recovery, supported by improvements in the employment and income environments and various policy measures. On the other hand, the situation remains uncertain due to factors such as a slump in consumer confidence resulting from prolonged high prices.

Under these circumstances, the Group also posted stable sales, mainly in Credit Card Business and Franchisee Business, while its core business in Business Wear Business remained sluggish.

This fiscal year is the first year of the“FY3/2025 to FY3/2027 Medium-Term Management Plan”. We aim to achieve sustainable growth by steadily promoting the five basic strategies outlined in the plan.

The operating results of the Group for the interim period under review were as follows.

Net sales: 84,044 million yen (up 1.2% year on year)

Operating income: 646 million yen (down 53.8% year on year)

Ordinary income: 518 million yen (down 71.1% year on year)

Net loss attributable to owners of parent: 630 million yen

(For the same period of the previous fiscal year, net income attributable to owners of parent: 463 million yen.)

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Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

Results by segment are as follows.

Segment sales and income (loss) figures are before the elimination of inter-segment transactions.

[Aoyama Trading Co., Ltd. Business Wear Business, Blue Rivers Co., Ltd., MDS Co., Ltd., Eisho Co., Ltd., FUKURYO Co., Ltd., Aoyama Suits (Shanghai) Co., Ltd., Melbo Men’s Wear, Inc.]

Sales in this segment were 53.335 billion yen (down 0.4% of the same period of the previous fiscal year), and segment loss (operating loss) was 1.25 billion yen (segment loss (operating loss) of 606 million yen in the same period of the previous fiscal year).

In the Aoyama Trading Co., Ltd. Business Wear Business, which is the core segment of this business, the number of men's suits (excluding set-up suits) sold, which are the main item of this business, was 363 thousand, down 11.3% year on year, and the average unit selling price was 33,790 yen, up 6.7% year on year. In this environment, the made-to-order suit brand "Quality Order SHITATE" performed strongly. In addition, the functional "Zero Pressure Suits," which are easy to coordinate with casual styles, have become popular, and various measures have been taken, including the development of a new ladies style. As a result of these efforts, Business Wear Business same-store sales for the interim period (April to September) were 99.4% compared to the same

(Notes) 1. “The Suit Company” includes “Suit Square” and “White The Suit Company” (including outlet stores). “Universal Language Measure's” includes “Universal Language” (including outlet stores).

1. Store opened and closed in Aoyama Suits (Shanghai) Co., Ltd. are from January to June 2024. The number of stores at the end of period is as of the end of June 2024.
2. Store opened and closed in Melbo Men’s Wear, Inc. are from March to August 2024. The number of stores at the end of period is as of the end of August, 2024.
• Credit Card Business>> [Aoyama Capital Co., Ltd.]

In this segment, sales were 2.605 billion yen (up 4.3% year on year) and segment profit (operating profit) was 1.154 billion yen (up 1.7% year on year), mainly due to an increase in shopping transactions. In addition, the Company procures funds by borrowing from its parent company, Aoyama Trading Co., Ltd., etc., and by issuing from Bonds payable.

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Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

(2) Overview of Financial Position for the Period under Review

Current assets at the end of the interim consolidated accounting period under review amounted to 193.14 billion yen decreased of 13.95 billion yen from the end of the previous consolidated fiscal year. This was mainly due to decreases of 8.194 billion yen in Cash and deposits, 7.485 billion yen in Notes receivable - trade and Accounts receivable - trade, and 1.173 billion yen in Operating loans, which offset increases of 1.046 billion yen in merchandise and finished goods and 1.661 billion yen in other current assets.

Non-current assets were 128.3 billion yen decreased of 174 million yen from the end of the previous fiscal year. This was mainly due to decreases of 275 million yen in goodwill and 313 million yen in other investments and other assets, despite increases of 260 million yen in property, plant and equipment and 241 million yen in other intangible assets.

As a result, total assets were 321.458 billion yen decreased of 14.139 billion yen from the end of the previous fiscal year. Current liabilities were 85.13 billion yen decreased of 16.072 billion yen from the end of the previous fiscal year. This was

mainly due to decreases of 3.064 billion yen in Notes and accounts payable - trade, 7.111 billion yen in electronically recorded obligations - operating, 10.005 billion yen in the current portion of Bonds payable, and 3.206 billion yen in other current liabilities, despite an increase of 8.346 billion yen in short-term borrowings.

Non-current liabilities were 59.664 billion yen increase of 6.147 billion yen from the end of the previous fiscal year. This was mainly due to increases of 5.946 billion yen in Long-term borrowings and 184 million yen in Retirement benefit liability.

As a result, total liabilities were 144.795 billion yen decreased of 9.924 billion yen from the end of the previous fiscal year. Total net assets were 176.662 billion yen decreased of 4.214 billion yen from the end of the previous fiscal year. This was

mainly due to a 3.893 billion yen decrease in retained earnings and a 498 million yen decrease in valuation difference on available- for-sale securities, despite a 273 million yen increase in foreign currency translation adjustments.

(3) Explanation of Consolidated Earnings Forecasts and Other Forward-looking Statements

The full-year earnings forecast and dividend forecast announced on May 10, 2024 have been revised. Please refer to the "Notice of Difference between Earnings Forecast and Actual Results for the First Half of the Fiscal Year Ending March 31, 2025, and Revision of Earnings Forecast for the Full Year" and "Notice of Dividends from Surplus (Interim Dividends), Changes in Dividends Policies, Revision of Year-end Dividends Forecast (Increased Dividends), and Decision on Treasury shares Acquisition" announced today (November 12, 2024). These two documents are written only in Japanese.

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Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

2. Interim Consolidated Financial Statements and Primary Notes

(1) Interim Consolidated Balance Sheet

Summary of Consolidated Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2025, Aoyama Trading Co., Ltd. (8219)

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