AOKI : Notice of Revisions to Forecasts for the Fiscal Year Ended March 31,2022 and Extraordinary Loss

News Release Dated April 28, 2022

Company: AOKI Holdings Inc.

Representative: Akihiro Aoki, President

Stock code: 8214, TSE Prime

Contact: Haruo Tamura, Executive Vice President

Tel: [phone]

Notice of Revisions to Forecasts for the Fiscal Year Ended March 31, 2022 and Extraordinary Loss

AOKI Holdings has revised its consolidated sales and earnings forecasts for the fiscal year ended March 31, 2022 that were announced on November 5, 2021. AOKI Holdings is also announcing an extraordinary loss.

1. Consolidated forecasts

(1) Consolidated forecasts for the fiscal year ended March 31, 2022 (April 1, 2021 - March 31, 2022)

Sales	Operating profit	Ordinary profit	Profit attributable to owners of parent	Net income per share
Previous forecast (A)	(Million yen) 156,500	(Million yen) 5,000	(Million yen) 4,100	(Million yen) 1,300	(Yen) 15.32
Forecast (B)	154,900	5,400	4,350	2,550	30.05
Change (B - A)	(1,600)	400	250	1,250
Percentage change (%)	(1.0)	8.0	6.1	96.2
(Reference) Previous fiscal year (ended March 31, 2021)	143,169	(5,793)	(6,606)	(11,931)	(140.77)

(2) Reasons for revisions

i. The revised sales forecast is the result of the positive effect of the strong performance of the fashion business in the fourth quarter and the negative effect of the significant impact on the ANNIVERSAIRE and bridal business and entertainment business of the increase in COVID-19 cases caused by a new variant.

ii.

The operating profit and ordinary profit forecasts reflect higher earnings in the fashion business and lower earnings in businesses affected by the increase in COVID-19 cases.

iii. The forecast for profit attributable to owners of parent reflects an extraordinary gain on the sale of non-current assets, which was announced on February 8, 2022, and an increase in impairment losses on non-current assets.

2. Extraordinary loss (impairment loss)

AOKI Holdings expects to post a loss of 2,244 million yen for the impairment of non-current assets at the end of the current fiscal year based on an examination of prospects for recovering the value of these assets in the future in accordance with the Accounting Standard for Impairment of Fixed Assets.

Note: These forecasts are based on judgments made in accordance with information available to management at the time this release was prepared. Actual results may differ substantially from these forecasts for a number of reasons.