ZOZO, Inc.

It is time, so we would like to begin FY 2022 third quarter results briefing.

To prevent the spread of COVID-19, we are only holding this session online today, and This briefing session will take place till 535. And from 550 on the separate Zoom channel, we will have a Q&A session for institutional investors. I would like to introduce at this time our participants, President and CEO, Kotaro Sawada, and Executive Vice President and CFO, Kojiya Nagisawa. Thank you very much. We have two presenters today. The CFO Yanagisawa will take us through the results. This is the Executive Vice President and CFO Yanagisawa, and I will take you through the FY2022 third quarter results. Today's apologies about starting a little bit late today. And also, we're having some issues with the video, technical issues. So any video, we can only provide audio. But the presentation has been uploaded, and we can show you the presentations as we go along. So please follow along. And the same documentation is also available on the IR section. Now moving on to the results for this quarter. So the FY22 third quarter GMV was up 8.3% year-on-year, ending at 406.4 billion yen. The GMV excluding other GMV was up 8.9% year-on-year, ending at 372.0 billion yen. The operating profit increased 15.1% year-on-year, landing at 44.6 billion yen and the operating profit margin was 12%, improving 0.6 points year-on-year. As was the case in the first half of the year, the GMV and OP trended positively. Especially with respect to the OP, we determined that we will overachieve our initial target. Thus, as of today, we have revised our forecast upward.

Against the revised forecast, the GMV excluding other GMV has achieved 75% and the OP 81.2%.