〔Delayed〕The original disclosure in Japanese was released on May 11, 2023 at 15:00 (GMT+9)

May 11, 2023

Tsukada Global Holdings Inc.

Consolidated Earnings Report for the Three Months ended March 31, 2023 (Japanese GAAP)

Stock listing: Tokyo Stock Exchange (Prime Market)

Securities code: 2418

URL: https://www.tsukada-global.holdings/en/

Representative: Masayuki Tsukada, President and CEO

Information contact: Masahiro Yamazaki, Manager, Finance &

Tel: +81-3-5464-0081

Accounting Department

Scheduled dates:

Filing of statutory quarterly financial report (shihanki hokokusho):

May 12, 2023

Dividend payout:

-

Supplementary materials to quarterly financial results available: No

Quarterly earnings presentation held: No

(Amounts rounded down to the nearest million yen)

1. Consolidated Performance for the Three Months ended March 31, 2023 (January 1, 2023 - March 31, 2023)

(1) Consolidated Operating Results

(Percentages indicate year-on-year changes)

Net sales

Operating income

Ordinary income

Profit attributable to

owners of the parent

million yen

%

million yen

%

million yen

%

million yen

%

Three months ended

12,250

40.8

(13)

-

72

-

37

-

March 31, 2023

Three months ended

8,699

69.3

(1,845)

-

(973)

-

(1,283)

-

March 31, 2022

Note: Comprehensive income: Three months ended March 31, 2023: (182) million yen (- %)

Three months ended March 31, 2022: (924) million yen (- %)

Profit

Diluted profit

per share

per share

yen

yen

Three months ended

0.78

-

March 31, 2023

Three months ended

(26.91)

-

March 31, 2022

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

million yen

million yen

%

March 31, 2023

85,316

22,665

26.3

December 31, 2022

87,472

23,086

26.1

Reference: Total equity: March 31, 2023:

22,445 million yen

December 31, 2022:

22,866 million yen

2. Dividends

Dividend per share

End-Q1

End-Q2

End-Q3

Year-end

Annual total

yen

yen

yen

yen

yen

Year ended

-

0.00

-

5.00

5.00

December 31, 2022

Year ending

-

December 31, 2023

Year ending

December 31, 2023

5.00

-

5.00

10.00

(Forecast)

Note: No revision has been made to the latest dividends forecast.

3. Earnings Forecast for the Fiscal Year ending December 31, 2023 (January 1, 2023 - December 31, 2023)

(Percentages indicate year-on-year changes)

Profit attributable to

Profit

Net sales

Operating income

Ordinary income

owners of the

per share

parent

million

million yen

%

million yen

%

million yen

%

yen

%

yen

Six months ending

26,490

17.5

786

-

614

(54.1)

293

-

6.14

June 30, 2023

Year ending

57,990

12.2

4,508

51.5

4,171

(12.3)

2,927

95.3

61.36

December 31, 2023

Note: No revision has been made to the latest earnings forecast.

*Notes

(1) Changes in significant subsidiaries during the period: None

(Changes in specific subsidiaries accompanying a change in scope of consolidation)

Newly Consolidated: None

Newly Deconsolidated: None

  1. Use of accounting methods specific to the preparation of quarterly consolidated financial statements: Yes
    Note: For details, please refer to "(3) Notes on Quarterly Consolidated Financial Statements (Application of Specific Accounting Methods for the Preparation of Quarterly Consolidated Financial Statements)" in section "2. Quarterly Consolidated Financial Statements and Main Notes" on page 4 in the accompanying materials.
  2. Changes in accounting policy, changes in accounting estimates, and retrospective restatement
    1. Changes in accordance with amendments to accounting standards, etc.: Yes
    2. Changes other than noted in 1) above: None
    3. Changes in accounting estimates: None
    4. Retrospective restatement: None

(4) Shares issued (common stock)

March 31, 2023

December 31, 2022

1) Number of shares issued at end of period

48,960,000

48,960,000

(including treasury stock)

2) Number of shares held in treasury at end

1,259,834

1,259,834

of period

Three Months ended

Three Months ended

March 31, 2023

March 31, 2022

3) Average number of shares outstanding

47,700,166

47,700,166

during the period

  • Quarterly earnings reports are exempt from quarterly review conducted by certified public accountants or by audit firms.

*Appropriate Use of Earnings Forecast and Other Important Information

(Cautionary Statement with Respect to Forward-Looking Statements)

Any forecasts and forward-looking statements given herein are based on information available as of this report's publication and on certain assumptions that are deemed reasonable. These forecasts are not guarantees of future performance, and actual results may differ from forecasts due to changes in the business environment. For the assumptions underlying the forecasts herein and other notice on the use of earnings forecasts, please refer to "(3) Earnings Forecast for the Fiscal Year ending December 31, 2023" in the section "1. Review of Consolidated Financial Results" on page 3 in the accompanying materials.

Accompanying Material - Contents

1. Review of Consolidated Financial Results

2

(1)

Operating Results

2

(2) Analysis of Financial Condition

3

(3)

Earnings Forecast for the Fiscal Year ending December 31, 2023

3

2. Quarterly Consolidated Financial Statements and Main Notes

4

(1)

Consolidated Balance Sheets

4

(2)

Consolidated Statements of Income and Comprehensive Income

6

Consolidated Statements of Income

6

Consolidated Statements of Comprehensive Income

7

(3)

Notes on Quarterly Consolidated Financial Statements

8

(Note on the Going-concern Assumption)

8

(Note on Significant Changes in the Amount of Shareholders' Equity)

8

(Application of Specific Accounting Methods for the Preparation of Quarterly

8

Consolidated Financial Statements)

(Changes in Accounting Policies)

8

(Segment Information)

9

(Revenue Recognition)

10

3. Supplementary Information

11

(Weddings Held and Orders Received)

11

1

1. Review of Consolidated Financial Results

(1) Operating Results

In the three months ended March 31, 2023, the future outlook of the Japanese economy remained uncertain due to supply chain disruptions caused by heightened geopolitical risks and to soaring energy costs and raw material costs. This was despite the fact that economic momentum was revived, helped by various government policies, as witnessed by rebounding consumer spending and private- sector capital expenditures even amid COVID-19.

Amidst this environment, the Tsukada Global Holdings Group ("the Group") focused on creating new value, developing high-quality and attractive outlets, providing high value-added services in the bridal, hotel, and wellness and relaxation (W&R) markets, and taking all possible measures to prevent coronavirus infections at all of its facilities.

In the Hotel business, the number of foreign visitors to Japan increased to 1.81 million in March 2023, supported by the gradual lifting of travel restrictions (Japan National Tourism Organization, "Number of Foreign Visitors to Japan (March 2023 estimate)"), a recovery of 65.8% from March 2019, thus causing occupancy rates and unit prices for accommodation to rise with stable conditions continuing. The number of weddings held in the Wedding and Hotel businesses more or less returned to normal as postponements due to COVID-19, a phenomenon which had occurred frequently until the previous fiscal year, largely disappeared. However, the recovery in spend per wedding stalled, making it difficult to predict the future outlook.

As a result, in the first three months of fiscal 2023, the Group posted consolidated net sales of ¥12,250 million (up 40.8% year on year). The Group recorded an operating loss of ¥13 million (compared with a loss of ¥1,845 million a year earlier), ordinary income of ¥72 million (compared with a loss of ¥973 million a year earlier), and net income attributable to owners of the parent of ¥37 million (compared with a loss of ¥1,283 million a year earlier).

The results for each business segment were as follows.

1) Wedding business

During the first three months of fiscal 2023, the number of weddings increased to 2,157 (up 22.4% year on year) amid COVID-19, and the segment posted a profit although the recovery in spend per wedding remained stagnant.

As a result, net sales in the Wedding business totaled ¥7,149 million (up 29.0% year on year) and segment profit was ¥264 million (compared with a loss of ¥304 million a year earlier).

2) Hotel business

The number of hotel weddings increased to 354 (up 23.8% year on year) in the first three months of fiscal 2023. Overnight occupancy rates and average charge per night were also strong as foreign visitors to Japan grew in number, and inbound tourism-related demand recovered moderately after a period of sharp decline.

As a result, net sales in the Hotel business totaled ¥4,382 million (up 77.3% year on year) and segment profit was ¥215 million (compared with a loss of ¥1,077 million a year earlier).

3) W&R business

In the first three months of fiscal 2023, the number of visitors, net sales, and segment profit

2

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Tsukada Global Holdings Inc. published this content on 19 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2023 06:09:09 UTC.