YOKOHAMA, Japan--(BUSINESS WIRE)--

AOKI Holdings Inc. (TOKYO:8214) (ISIN:JP3105400000) announced its consolidated financial results for the Second Quarter of the fiscal year ending March 31, 2017.

In the first half of the current fiscal year, the Japanese economy remained lackluster due mainly to yen appreciation, lower share prices and overseas economic downturn although there were improvements in the employment and income situation. Consumer spending was sluggish as higher food prices made consumers more budget-minded.

During the first half, the AOKI Group implemented various measures in all business segments. Sales increased 1.2% year-on-year to 82,656 million yen, but operating profit decreased 82.1% to 660 million yen. Ordinary income decreased 86.0% to 508 million yen and profit attributable to owners of parent decreased 92.9% to 152 million yen.

The results of operations in the first half under review were generally in line with the forecast.

We have revised the fiscal year sales and ordinary income forecasts announced on May 12, 2016. There are several reasons for this revision: current performance trends, economic and market conditions in Japan, and a reexamination of the fiscal year store opening plan and expense plan in each business. We have changed the store-opening plans from 13 at the beginning of the fiscal year to 18 stores for the Fashion Business and from 44 to 52 facilities for the Café Complex Operations Business.

The full documents are available at http://ir.aoki-hd.co.jp/en/IRFiling/Results.html

Note: The original disclosure in Japanese was released on November 10, 2016 at 14:15 (GMT +9).

About AOKI Group

As a corporate group that continues to break the mold and innovate, the AOKI Group has worked to meet the needs of customers in a variety of life scenes. This has led to our expansion into new markets, including the bridal and entertainment businesses.

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