YONDOSHI HOLDINGS INC.
8008・Prime Market・Retail Trade
Brand Business
Core segment centered on "4°C" Jewelry SPA and Luxury Brand Watch Resale
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (Q1 cumulative, FY2027 ending Feb 2027) | ¥13,196 million | ¥9,220 million (Q1 cumulative, FY2026 ending Feb 2026) | ↑ |
| Operating profit (Q1 cumulative, FY2027 ending Feb 2027) | ¥1,157 million | ¥395 million (Q1 cumulative, FY2026 ending Feb 2026) | ↑ |
| Net sales YoY change | +43.1% | — | ↑ |
| Operating profit YoY change | +192.6% | — | ↑ |
| Goodwill balance (end of Q1, FY2027 ending Feb 2027) | ¥7,400 million | ¥7,650 million (end of FY2026 ending Feb 2026) | ↓ |
Business Details
This segment consists of the Jewelry SPA business, in which F.D.C. Products Co., Ltd. and its subsidiaries handle the planning, manufacturing, and sales of jewelry under brands such as "4°C" and "Canal 4°C" in an integrated manner, and the Luxury Brand Watch Resale business, in which Rashin Co., Ltd. leverages its reliable appraisal capabilities and extensive lineup. Positioned as the Group's core segment, its name was changed from the former "Jewelry Business" starting FY2025 (ended February 2025).
Recent Overview
Brand Business achieved substantial growth with net sales up 43.1% and operating profit up 192.6%
In Q1 of FY2027 (ending February 2027) (March–May 2026), net sales of the Brand Business reached ¥13,196 million (up 43.1% year on year), and operating profit reached ¥1,157 million (up 192.6% year on year), representing substantial growth in both revenue and profit. The F.D.C. Products Group expanded existing-store sales through deepening MD reforms and promoting channel strategies. Rashin Co., Ltd. achieved substantial growth in both sales and profit through expansion of its product lineup and growth in duty-free sales, driving overall segment earnings.
Key Products
Growth Drivers
- Substantial expansion of the resale watch business through Rashin Co., Ltd.'s expanded product lineup and growth in duty-free sales
- Expanded support from female customers and recovery in existing-store sales through "4°C" Jewelry's MD reforms and channel strategy promotion
- Capture of demand from affluent and inbound customers against a backdrop of steady high-end product demand
- Expansion of Rashin Co., Ltd.'s product lineup leveraging the Group's financial base
- Promotion of OMO strategy and enhancement of customer experience value through the establishment of a new digital marketing department
Risks
- Risk of decline in male customers (gift demand) for "4°C" Jewelry
- Deterioration in consumer sentiment and increased frugality due to continued price increases
- Decline in demand for mid-priced jewelry amid the growing polarization of high-end product demand
- Fluctuations in inbound demand due to exchange rate trends and geopolitical risk
- Risk of future impairment related to the unamortized goodwill balance of ¥7,400 million (as of the end of Q1, FY2027 ending Feb 2027)
- Risk of recording brand restructuring losses or impairment losses (an impairment loss of ¥23 million was recorded in Q1 of FY2027 ending Feb 2027)
Last updated: May 27, 2026