Change in Fiscal Year-End Accompanying the Transition to an Operating Company and Alignment with Overseas and Retail Operations

「The current second quarter cumulative consolidated period, from 1 March 2020 to 31 August 2020, differs from the comparative prior-year second quarter cumulative consolidated period, from 1 April 2019 to 30 September 2019. For reference, the total results for the 6 months from April to September 2019 are presented as the "same period of the previous year."」

「The company changed its fiscal year-end from March to February in the previous fiscal year. As a result, the current first quarter cumulative consolidated period, from 1 March 2020 to 31 May 2020, differs from the comparative prior-year first quarter cumulative consolidated period, from 1 April 2019 to 30 June 2019. For reference, the total results for the 3 months from April to June 2019 are presented as the "same period of the previous year."」

「As our business partners are primarily retailers and many of them have a fiscal year ending at the end of February, and as we sought to align our fiscal year-end with those of our overseas consolidated subsidiaries, which account for half of our profits, we changed our fiscal year from 1 March through the end of February of the following year. This is intended to promote integrated global business operations and increase management transparency through timely and appropriate disclosure of management information. Accordingly, the current consolidated fiscal year covers the 11 months from 1 April 2019 to 29 February 2020.」