NITORI FY2022 - 4Q - Financial Report English

NITORI Holdings Co., Ltd.
Financial Results Presentation for the FY2022
May 9, 2023
TSE Prime Code : 9843
Overview of Consolidated Financial Results
（100 million Yen）
Prior Period
FY2022 FY2021
Comparison
Actual To sales Actual To sales Change YOY
Net sales 9,480 - 8,115 - 1,365 116.8%
Gross profit 4,781 50.4％ 4,258 52.5％ 522 112.3％
SG & A
expenses 3,380 35.7％ 2,876 35.4％ 504 117.5％
Operating
income 1,400 14.8％ 1,382 17.0％ 18 101.3％
Ordinary
income 1,440 15.2％ 1,418 17.5％ 22 101.6％
Profit
attributable to 951 10.0％ 967 11.9％ ▲15 98.4％
owners of parent
Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 1
Transition for number of stores and performance
FY1992 FY2002 FY2012 FY2022

9,480
Results Results Results Results
1,440
Number of stores 21 82 300 902 8,115
7,169 1,418
Net sales
(100 million Yen)
177 882 3,487 9,480 1,384
Ordinary income 6,422
(100 million Yen)
13 89 621 1,440
1,095
Ordinary income 6,081
margin
7.6% 10.2% 17.8% 15.2%
5,720 1,030
5,129 948
Sales (100 m yen) 4,581 875
Ordinary income (100 m yen) 4,172 750
3,876
679
634
3,487
621
3,142 3,310
591
2,861 535
474
1,567
1,087 190
130
308 489
43 103 177 19 35
0.5 1 5 13
’68.2 ’82.2 ’88.2 ’93.2 ’97.2 ’00.2 ’04.2 ’06.2 ’10.2 ’11.2 ’12.2 ’13.2 ’14.2 ’15.2 ’16.2 ’17.2 ’18.2 ’19.2 ’20.2 ’21.2 ’22.2 ’23.3
Summary of Financial Results
by Reporting Segment
（100 million yen）
Prior Period
FY2022 FY2021
Comparison
Net sales 8,217 - 6,792 - 1,425 121.0%
NITORI
business
1,353 1,352
Operating
income 16.5% 19.9% 0 100.0%
Net sales 1,346 - 1,370 - ▲23 98.3%
Shimachu
business
Operating
income 41 3.1% 30 2.2% 10 135.6%

Consolidated ordinary income (YOY)
• Impact of logistics efficiency • Increase in office rent due to aggressive store
• Impact of increase in improvement, etc. opening
net sales →Improved delivery efficiency, • Increase in outsourcing costs for IT personnel
shipping packaging efficiency, etc. • Increase in utilities costs due to soaring oil
prices
• Increase in advertising expenses due to
opening of flagship store in central Tokyo, etc.
＋901 ▲381
▲164
Exchange
rate impact ▲107
Trade ▲45
cost, etc. ▲192
Personnel
expenses Logistic 1,440
1,418 Expenses, +12
etc. Shimachu
Shimachu Gross Others Shimachu
45
32 profit conslidated
increase
• Purchase foreign • Impact of rising trade NITORI

NITORI exchange impact ▲487 costs • Including amortization 1,395
1,385 • Inventory exchange of goodwill, etc.
impact＋106
2022.2 FY2022
Ordinary Ordinary
income income
Gross profit ・ SG&A expenses
SG&A Ratio to SG&A Ratio to
Amount YOY Change Amount YOY Change
expenses sales expenses sales
Personnel Outsourcing
Expenses
1,021 112.3% 10.8％ ▲0.4pt 198 109.3% 2.1％ ▲0.1pt
expenses
Rents 517 111.3% 5.5％ ▲0.2pt Depreciation 222 109.1% 2.3% ▲0.2pt
Shipping and
delivery costs※
379 151.3% 4.0％ +0.9Pt Capital investment, etc.
Advertising
expenses
203 122.8% 2.1％ +0.1pt Capital investment 1,014
※Includes +12 billion yen due to change in accounting policy.
Gross profit margin ratio FY2021

Others NITORI Group
55.7% ▲6.1pt 52.5%
52.4% ▲2.1pt
+1.3pt +0.2pt ▲3.3pt ▲2.0pt
+1.3pt 50.4%
･FX impact ･Cost measures such

applied to the ・FX impact as product replacement,
purchase applied to the etc.+3.3pt
(111.16yen inventory ･Impact of rising Shimachu
⇒132.23yen) trade costs ▲2.0pt
FY2022
FY2021 FY2022
NITORI Group
NITORI segment NITORI segment

Consolidated Balance Sheets
31 Mar. 20 Feb.
Accounts Change Major factors on changes
2023 2022
Current assets 3,303 2,783 519

Cash and deposit 1,319 1,304 14
資
産 Inventory 1,203 859 344 Inventory+334
の Non-current assets 8,034 7,054 979
部
Property, plant an equipment 6,494 5,604 889 Land+378
Investment and other assets 330 381 ▲51

Total assets 11,337 9,838 1,499
Current liabilities 2,217 1,631 585
負 Accounts payable-trade 384 397 ▲13
債 Short-term loans payable 830 350 480
の
部 Non-current liabilities 939 878 60
Long-term loans payable 573 503 69
Total liabilities 3,156 2,510 646
Total net assets 8,180 7,328 852 Retained earnings+789
Total liabilities and net assets 11,337 9,838 1,499

Consolidated Cash Flows
FY2022 FY2021 Change Major factors on changes
Operating Profit before income taxes 1,389

activities
913 855 58 Income taxes paid ▲400
資 Investing Purchase of property, plant

Activities
▲1,325 ▲1,199 ▲125 and equipment
▲1,139
産
の Proceeds from long-term
部 Financing borrowings 500
activities
369 177 191 Repayments of long-term ▲350
borrowings
Other 22 29 ▲6
Net increase (decrease) in
cash and cash equivalents ▲19 ▲137 117
負
Increase (decrease) due to
債change in fiscal year end of
の consolidated subsidiaries
－ 153 ▲153
部
Cash and cash equivalents
at end of year 1,251 1,270 ▲19
▲411 ▲344 ▲67 （Operating activities and investment

Free cash flow activities）

Number of stores as of 31 Mar. 2023
End of Net End of
FY2021 increase FY2022 • Total at end of FY2022 : 902 stores
• Comparison to the end of
NITORI 472 22 494 FY2021 : +101 stores
EXPRESS 22 7 29
J
A DECOHOME 140 27 167
P USA
A N plus 18 12 30 ▲1
N
Shimachu 56 ▲3 53 Mainland Japan
China +65
Subtotal 708 65 773 +21
Taiwan 44 9 53
O Malaysia Taiwan
V Mainland China 46 21 67 +6 +9
E
R
USA 2 ▲1 1
Singapore
E Malaysia 1 6 7 +1
A
R Singapore 0 1 1
S
Subtotal 93 36 129
Total 801 101 902
Major indicators of management efficiency （1）
No. Indicator unit Target 2023.3 2022.2 2021.2 2020.2 2019.2
1 Return on assets ％ Over 15％ × 13.6 14.8 18.4 16.8 17.6
2 Total asset turnover Times Over 2 × 0.90 0.85 0.94 0.99 1.04
Ordinary income
3
Margin
％ Over 10％ ○ 15.2 17.5 19.5 17.1 16.9
4 Earnings per share ¥ Over ¥100 ○ 841.9 856.7 825.2 635.4 608.0
G 5 Return on equity ％ Over 15% × 12.3 14.1 15.5 13.5 14.5

R
O 6 Equity ratio ％ Over 60％ ○ 72.2 74.5 76.8 82.0 80.7
U
P 7 Interest coverage Times Over 20 ○ 622 654 1,465 1,031 998
8 Sales growth rate ％ Over 10％ ○ 16.8 13.2 11.6 5.6 6.3
Ordinary income
9 growth rate
％ Over 10％ × 1.6 2.5 27.9 6.3 8.6
Ratio of gross profit

10 to sales
％ Over 48％ ○ 50.4 52.5 57.4 55.2 54.5
Ratio of break-even
11 point to sales
％ Under 80％ ○ 66.5 63.8 62.6 65.8 65.6
※ Results of Shimachu Corporation are included from fiscal year 2021.

Major indicators of management efficiency （2）
S No. Indicator unit Target 2023.3 2022.2 2021.2 2020.2 2019.2

A
L
E 12 Sales per tsubo K Over ¥950K ○ 114.1 101.9 113.8 105.5 103.4
O
F 13 Stock turnover Times Over 9 × 5.3 5.4 5.5 5.0 5.3
F
U
R
14 Operating assets turnover Times Over 2.9 ○ 3.4 3.4 3.6 3.4 3.6
N
I
T
15 Ratio of profit distribution ％ Over 20％ ○ 33.7 37.1 33.8 30.3 31.0
U
Ratio of real estate cost to
R
E
16
gross profit
％ Under 25％ ○ 21.7 22.7 18.9 21.2 21.6
Ratio of sales promotion
A
N
17
cost to gross profit
％ Under ６％ ○ 4.7 4.3 4.8 5.7 6.2
D
H
18 Labor productivity M Over ¥10M ○ 2,094 2,069 2,271 1,980 1,922
O
M
E
19 Sales floor per labor Tsubo Over 60 × 35.3 37.5 35.6 34.8 34.7
F
U
20 Operating income per tsubo K Over ¥150K ○ 18.7 19.2 20.6 16.0 16.0
R
N
I
21 Stock per tsubo K Under ¥90K × 10.7 8.5 8.9 9.5 8.9
S
H
I
22 Average age of labor Age 30～35 ○ 34.3 33.5 33.5 33.7 33.6
N
G
Results ( 〇 won / × lost ) 〇15×7 〇16 ×６〇19 ×3 〇15 ×7 〇15 ×7
NITORI Segment Topics
YOY changes in comparable stores
※ Sales = Sales based on orders
（％）
Sales, YOY
115 110.4
105
102.7 102.8 101.2
95 90.9
85
（％） No. of Customers, YOY

112.8
115 Average Spend per Customer, YOY 107.2
101.3 100.8
105 100.8
95 101.8 101.4 90.1

97.9 94.4
85
FY2018 FY2019 FY2020 FY2021 FY2022
※ Aggregate Targets ：NITORI・DECOHOME・EC

NITORI segment sales（Net sales）
Net sales Amount YOY
NITORI segment sales: 821.7 billion yen
Store sales
Compared to FY2021 ： 121.0% (including overseas)
6,908 119.1%
Sales E-commerce 921 128.8%

（100 million yen） outside stores
B to B
(including overseas)
Renovation 142 137.5%
8,217 Rent income 87 116.8%
Others 156 165.3%

6,792
Total 8,217 121.0%
Sales composition by region

Chugoku
Hokkaido 4.2％ ▲0.1pt & 7.0％ ▲0.1pt
Shikoku
Kyusyu &
Tohoku 5.2％ +0.1pt Okinawa 8.6％ ▲0.1pt
27.4 11.1
Kanto ▲0.7pt EC +0.6pt
％％
B to B &
Hokuriku &
Koshinetsu 5.1％ +0.1pt Renovatio 1.7％ +0.2pt
n
Chubu&
Tokai 9.3％ ▲0.3pt Overseas 3.8％ +0.3pt
FY2021 FY2022 13.6

Kinki ▲0.5pt Others 3.0％ +0.5pt
％
Product Development
• Ceramic-topped dining table “CERAL" with excellent functionality. Resistant to

scratches, abrasion, heat, and ultraviolet rays, allowing pots and pans to be
placed directly on the table.
• New ultra-lightweight type in the very popular "TORERU" series of frying
pans and pots with removable handles.
35% lighter than conventional products.
Dining Table “CERAL” “TORERU” series

Sales Promotion Measures in Japan
• “New Life Support Campaign”
Free furniture delivery for the purchase more than 50,000 yen.
Some furniture and interior products are offered at lower price.
• ”Free delivery Campaign for Home Appliances”
Providing home appliances which is required for starting a new life,
such as refrigerators, washing machines, microwave ovens and rice cookers
etc., all together with furniture purchased at NITORI.

Number of app members
• Number of app members FY2022: 16.01 million people
（Target: 16 million）
• Target of FY2023: 19 million people
• Improving shopping experience for customers by renewing
and adding functions to the NITORI app.
No. of app members
(10 thousand people)
1,900
1,601
▪FY 2022 Results
1,314 16.01 million people
908 ▪Compare to FY2021

+2.86 million people (121.8%)
▪FY2023 target
19 million people
FY2020 FY2021 FY2022 FY2023

E - Commerce
• Domestic EC sales at the end of FY2022 was 91.1billion yen.

(128.3% YoY）
• Total number of live commerce viewers exceeded 2.6 million people.
Domestic E-commerce sales Live Commerce

（100 million yen） • Held total of 86times on FY2022
• Increasing number of staff and
911 strengthening our Live Commerce on
FY2023
704 710
443
386
FY2018 FY2019 FY2020 FY2021 FY2022

DECO HOME
Existing stores generated sales YoY • 167 stores at the end of FY2022
（％） ※ Sales = Sales based on orders (+27 stores from the end of FY2021）
• Sales composition of DECO HOME original
105 products was increased to 60%
101.1％
100.2％
100
96.4％
95
FY2020 FY2021 FY2022
Number of stores
167
140
106
94
78
62
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022

N plus
2023 SPRING
COLLECTION
Overseas business (Taiwan and Mainland China)
Taiwan
Number of stores
• The end of FY2022: 53 stores
(+9 stores from the end of FY2021）
• Plan for FY2023: +10 stores
Measures to improve awareness

• Increasing TV and Online ads.
• Renewal of the application
⇒No. of app member has surpassed
1 million
Mainland China
Number of stores
• The end of FY2022: 67 stores
(+21 stores from the end of FY2021)
⇒ More than 100 stores in total
WEB strategy
• Collaboration with “Yidoutang”
• Expansion of original items for
online shopping
• Adding video contents, etc.

Overseas business (Malaysia and Singapore)
Malaysia
Number of stores
• FY2022: 7 stores
(+6 stores from the end of FY2021）
⇒Opened the store ”Suria KLCC”
⇒2 stores opened at Johor Bahru

⇒Planning to open at new areas
Singapore
Number of stores
• Opened the 1st store in Singapore
Sales promotion
• Conducting seasonal campaigns
such as Chinese New year sales
• Advertising and distributing sales
coupons though SNS

Shimachu segment Topics
Development of PB product
• Improving gross profit margin by converting HC products into
PB products by utilizing NITORI Group's product development
capabilities.
• Sales of PB products, especially daily necessities, are strong
against the plan.
PB product sales ranking FY2022
1st 2nd 3 rd
Boxed Tissues Recycled toilet paper Soft pack Tissues

200sets ×5 30meters ×18 150 sets ×5

店舗施策
Renovation of Wako and Soka Toneri stores
▪Wako store has installed escalators, replaced flooring, and expanded
the outside sales floor area in order to create a comfortable shopping
environment for our customers.
▪Soka Toneri store has remodeled the material section for professional
customers, including increasing number of professional items and amount
of stocks.

NITORI Group Topics
New collection - Living in Comfort -
▪Released new collection “Living in Comfort” using materials

that satisfies five senses of the people.
▪New collection proposes "a peaceful and loving life.”
Classic modern Natural modern
Natural vintage Simple modern

Sustainability
Promotion of resource circulation
▪Establish a framework for recycling carpet and futon mattress with
the cooperation of three companies.
①Collection ②Intermediate ③Recycling
NITORI TAKEEI SUMITOMO OSAKA CEMENT
▪Collects carpet and futon Pulverized into a ▪Used as heat energy in the
mattress at 8 stores. cement material calcination process.
▪After calcination, the
▪Collects 475kg of carpet and components are
futon mattress within 4 weeks. transformed into cement
products.
Sustainability
Promoting Diverse Work Styles
▪Introduced a new “My Area System”
▪No difference in benefits between employees who use the
system and those who do not.
My Area System details
A system that allows employees to commute to work without having
Summary to relocate, limiting the working area to a certain part of the country.
Employees who have been with the company for

Subject
a certain period of time.
Subject area Kanto area and Kansai area

※The area is to be expanded.
Duration Unlimited. Can be applied/ cancelled at any time
Benefits No reduction
Position No restriction
HR Recruitment
Earned first place in popularity by a poll of college

students who studies humanities graduating 2024.
※from Nikkei news published 14 April 2023
Humanities Science
Previous Previous
Rank Name of Company Rank Name of Company
Year Rank Year Rank
1 NITORI 3 1 SONY GROUP 1

2 TOKYO MARINE NICHIDO 1 2 AJINOMOTO 2
MITSUBISHI HEAVY
3 JTB GROUP 19 3 INDUSTRIES 8
4 FIRST RETAILING 13 4 SKY 7
5 ITOCHU CORPORATION 5 5 NTT DATA 4
6 MUFG BANK 21 6 SEGA 47
7 AJINOMOTO 10 7 KAGOME 9
NIPPON LIFE INSURANCE
8 COMPANY 4 8 FUJITSU 3
…
…
…
9 SONY MUSIC GROUP 6
10 Plan・Do・See 12 12 NITORI 14
HR development
Increased number of trainings for mid-level and above employees,
which had been lacking.
▪11,828 employees attended trainings (YoY 239%)
▪Resumed U.S. Seminar which had been postponed due to
COVID.
Number of employees U.S. Seminar
attended trainings ▪In FY2023, 435 employees
12,830 attended the seminar.
11,828
▪In FY2024, 1,008 employees
are expected to attend.
4,959
'22.2 '23.3 '24.3 (Plan)

FY2023 Key Subjects
FY2023 Key Subjects（Japan）
NITORI Japan business
‣Renovating 77 stores
‣Expansion of home appliances business
Sales ‣Development of DECO HOME original product
（Target Sales Composition：80%）
‣Expansion of Live Commerce
‣Enhancing TV and Web advertisement
‣Expansion of the new collection “Living in Comfort”
Number of (Up to 50 stores)
Customers ‣Updating NITORI App⇒UP to 19M App members
‣Increase EC limited products/ Enhance TV shopping
⇒Developing new customers
‣Promoting implementation of self-cash register
‣Construction of distribution centers (Nagoya/Satte)
Expenditure ‣Improving logistics efficiency through relocation of
distribution centers
‣Expanding the area of small parcel inhouse delivery
FY2023 Key Subjects（Overseas）
NITORI Overseas business
‣Increasing stores in Beijing, Suzhou, Chengdu,
Wuhan and Chongqing
Mainland ‣Opening store in EC platform “Pinduoduo”
China ‣Creating original application within WeChat
‣Enhancing new graduates recruitment
（approx. 400 employees ）
‣Large-scale renovation and expansion of stores
‣Preparation of new format stores
Taiwan ‣Enhancing TV and Web advertisement
‣Adding functions to application
(increasing number of members to 1.35M）
‣Opening stores at new districts
Southeast ‣Improving sales efficiency through optimizing
product lineups
Asia ‣Opening store in EC platform “Lazada”
‣Investigation for oversea expansion
FY2023 Key Subjects（Shimachu）
Shimachu
‣Conducting store renovations
‣Implementing floor management system in order to
Sales maintain the store in a timely manner
‣Improve store condition by hiring additional employees
‣Holding promotional events at the flagship stores
‣Preparation of new opening stores
‣Enhancing TV and Web advertisement
‣Promotion of Shimachu app and acquisition of new
Number of
Customers
members
‣Development of PB products
‣Expanding the range of customers by addition of
new furniture style
‣Preparation of deploying new distribution centers
‣Diminishing delivery cost by integration of logistics
systems with Nitori business
Expenditure
‣Improvement of work efficiency by the renewal of
store management system
‣Promoting implementation of self-cash register
Store roll-out plan in FY2023
Mar. 31, Mar. 31,
Net increase
Area Type 2023 2024
No. stores
Planned No.
No. stores Total 1,108 stores
NITORI
NITORI EX
523 36 559 +206 stores
J
DECO HOME 167 62 229
from the end of FY2022
A
P N plus 30 30 60
A
N Shimachu 53 1 54
Subtotal 773 129 902
Taiwan 53 10 63
Mainland China 67 41 108
Mainland China Korea USA
U.S.A. 1 ▲1 0 +41 stores +1 store ▲1 store
O Malaysia 7 5 12
Hong Kong
V +2 stores Japan
Singapore 1 2 3
E +129 stores
R Thailand 0 5 5
S Taiwan
Vietnam 0 5 5
+10 stores
E
Indonesia 0 5 5
A Southeast Asia
S Philippines 0 2 2 +24 stores
Hong Kong 0 2 2
Korea 0 1 1
Subtotal 129 77 206
Total 902 206 1,108

Consolidated Financial Plan for FY2023
▪FY2022 comprises 13 months and 11 days from February 21, 2022 to March 31, 2023.
Comparison figures are provided for reference purpose.
▪Existing store sales YoY (NITORI + DECOHOME + EC) : 104.4%
▪Exchange rate : 130 yen to a dollar, estimated capital investment : 102 billion yen
FY2023 FY2022
Prior Period Comparison
(Apr. 1, 2023 ~ Mar. 31, 2024) (Feb. 21, 2022 ~ Mar. 31, 2023)
Net sales 9,320 － 9,480 － ▲160 98.3％
Gross profit 5,004 53.7% 4,781 50.4％ 222 104.7％
SG&A
expenses 3,553 38.1% 3,380 35.7％ 172 105.1％
Operating
income 1,451 15.6% 1,400 14.8％ 50 103.6％
Ordinary
income 1,470 15.8% 1,440 15.2％ 29 102.0％
Profit attributable to
owners of parent 1,000 10.7% 951 10.0％ 48 105.1％

Distribution of Profits to Shareholders
▪Paying out dividend increased 19 consecutive fiscal year

▪Annual dividend：¥146 per share（+６ Yen from FY2021）
Annual Dividends
First half devidends (\) 150
Second half devidends (\)
146
140
123
108
97 70
73 75
92
82 66
54
65 50
47
55
50 47
35
29
27.5 70 73 75
54 57
45 47
30 35
22.5 26
'05.2 '06.2 '07.2 '08.2 '09.2 '10.2 '11.2 '12.2 '13.2 '14.2 '15.2 '16.2 '17.2 '18.2 '19.2 '20.2 '21.2 '22.2 '23.3 '24.3
（Plan）

【Note on the outlook】
This material contains projections and forward-looking statements regarding the future plans,
strategies and performance of the Company and its affiliates. These statements are not historical
facts, but rather assumptions and beliefs based on information currently available to the Company. It
also involves risks and uncertainties related to economic trends, consumer spending, market
demand, and taxation and other systems. Therefore, please be aware that actual results may differ
from our projections.
This material contains unaudited reference figures, and amounts are rounded down to the nearest
100 million yen and rounded for all other figures.

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NITORI Holdings Co., Ltd.

Financial Results Presentation for the FY2022

Actual To sales Actual To sales Change YOY

Net sales 9,480 - 8,115 - 1,365 116.8%

Gross profit 4,781 50.4％ 4,258 52.5％ 522 112.3％

FY1992 FY2002 FY2012 FY2022

Actual To sales Actual To sales Change YOY

Net sales 8,217 - 6,792 - 1,425 121.0%

Net sales 1,346 - 1,370 - ▲23 98.3%

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 3

• Purchase foreign • Impact of rising trade NITORI

Gross profit margin ratio FY2021

･FX impact ･Cost measures such

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 5

Current assets 3,303 2,783 519

Investment and other assets 330 381 ▲51

Total liabilities and net assets 11,337 9,838 1,499

FY2022 FY2021 Change Major factors on changes

Operating Profit before income taxes 1,389

資 Investing Purchase of property, plant

▲411 ▲344 ▲67 （Operating activities and investment

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 7

No. Indicator unit Target 2023.3 2022.2 2021.2 2020.2 2019.2

1 Return on assets ％ Over 15％ × 13.6 14.8 18.4 16.8 17.6

G 5 Return on equity ％ Over 15% × 12.3 14.1 15.5 13.5 14.5

Ratio of gross profit

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 9

S No. Indicator unit Target 2023.3 2022.2 2021.2 2020.2 2019.2

（％） No. of Customers, YOY

95 101.8 101.4 90.1

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 12

Sales E-commerce 921 128.8%

Others 156 165.3%

Sales composition by region

FY2021 FY2022 13.6

• Ceramic-topped dining table “CERAL" with excellent functionality. Resistant to

Dining Table “CERAL” “TORERU” series

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 14

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 15

908 ▪Compare to FY2021

FY2020 FY2021 FY2022 FY2023

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 16

• Domestic EC sales at the end of FY2022 was 91.1billion yen.

Domestic E-commerce sales Live Commerce

FY2018 FY2019 FY2020 FY2021 FY2022

Copyright 2023 Nitori Holdings All Rights Reserved ■不許複製印刷配布 17

FY2017 FY2018 FY2019 FY2020 FY2021 FY2022

Measures to improve awareness

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• Plan for FY2023: +5 stores

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Boxed Tissues Recycled toilet paper Soft pack Tissues

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▪Released new collection “Living in Comfort” using materials

Classic modern Natural modern

Natural vintage Simple modern

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