2026.02.19 〔Delayed〕Tsukada Global Holdings Inc.Consolidated Earnings Report for the Fiscal Year ended December 31, 2025(Japanese GAAP)

〔Delayed〕The original disclosure in Japanese was released on February 10, 2026 at 15:30 (GMT+9)

February 10, 2026

Stock listing: Tokyo Stock Exchange Securities code: 2418 URL: https://www.tsukada-global.holdings

Representative: Masayuki Tsukada, President and CEO

Information contact: Masahiro Yamasaki, Manager, Finance & (TEL) 03-5464-0081 Accounting Department

Scheduled date of annual general meeting of shareholders: March 30, 2026 Commence dividend payments: March 31, 2026

Filing securities report: March 25, 2026

Supplementary material on financial results: Yes

Year-end earnings presentation held: Yes: (targeted at institutional investors and analysts)

(Amounts rounded down to the nearest million yen)

1. Consolidated Performance for the Fiscal Year Ended December 31, 2025 (January 1, 2025, to December 31, 2025)

   (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 9,540 7,408	%	million yen	%	million yen	%
   Year ended December 31, 2025	73,095	15.0		28.8	7,494	(3.0)	4,768	(7.4)
   Year ended December 31, 2024	63,545	10.6		38.7	7,726	34.5	5,147	8.8

   (Note) Comprehensive income For the fiscal year ended December 31, 2025: 5,588 million yen (1.9%)

   For the fiscal year ended December 31, 2024: 5,484 million yen (13.8%)

   	Profit per share	Diluted earnings per share	Return on Equity	Return on Assets	Operating profit margin
   	Yen	Yen	%	%	%
   Year ended December 31, 2025	100.62	-	13.7	6.0	13.1
   Year ended December 31, 2024	107.92	-	17.3	7.5	11.7

   Reference: Equity in earnings (losses) of affiliates:	Year ended December 31, 2025:	(0) million yen
   	Year ended December 31, 2024:	(160) million yen
   (2) Consolidated Financial Position

   	Total assets	Net assets	Equity ratio	Net assets per share
   	million yen	million yen	%	Yen
   December 31, 2025	140,138	39,792	26.6	785.95
   December 31, 2024	111,711	34,030	28.9	675.73

   Reference: Total equity December 31, 2025 37,212 million yen

   December 31, 2024 32,232 million yen

   (3) Consolidated Cash Flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   	million yen	million yen	%	Yen
   Year ended December 31, 2025	10,340	(7,258)	3,597	27,903
   Year ended December 31, 2024	10,394	(11,132)	2,730	21,094

2. Dividends

   	Dividend per share					Total dividends	Dividend payout ratio (consolidated)	Rate of total dividend to net assets (consolidated)
   	End-Q1	End-Q2	End-Q3	Year-end	Annual total
   	Yen	Yen	Yen	Yen	Yen	million yen 524 568	%	%
   Year ended December 31, 2024	-	5.00	-	6.00	11.00		10.2	1.8
   Year ended December 31, 2025	-	5.00	-	6.00	12.00		11.9	1.6
   Year ending December 31, 2026 (Forecast)	-	6.00	-	7.00	14.00		11.0

3. Earnings Forecast for the Fiscal Year Ending December 31, 2026 (January 1, 2026, to December 31, 2026)

   (Percentages indicate year-on-year changes)

   	Net sales		Operating income		Ordinary income		Profit attributable to owners of the parent		Basic earnings per share
   	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   Six months ending June 30, 2026	37,090	9.9	3,690	(4.7)	3,044	31.6	2,092	(52.3)	44.16
   Year ending December 31, 2026	77,797	6.4	10,095	5.8	8,814	17.6	6,014	26.1	126.91

   *Notes

   1. Changes in significant subsidiaries during the period: Yes Newly Consolidated: Three companies

      (Company name) Victory Hotel Dunhill HN Investors LLC, Victory Dunhill Hotel Mezz LLC, and Victory Dunhill Hotel HN LLC

   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

   3. Number of issued shares (common shares)

      Year ended December 31, 2025

      Year ended December 31, 2024

      1. Number of shares issued at end of period (including treasury stock)

      2. Number of shares held in treasury at end of period

      3. Average number of shares outstanding during the period

48,960,000 48,960,000

1,613,534 1,259,834

47,391,633 47,700,166

• This Earnings Report is exempt from auditing 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 "(4) Earnings Forecast for the Fiscal Year Ending December 31, 2025" in the section "1. Review of Consolidated Financial Results" on page 6 in the accompanying materials.

(Presentation Handout Materials)

The Company has scheduled an earnings presentation targeted at institutional investors and analysts on February 16, 2026.

The presentation handout materials will be posted on the Company's website immediately after the event.

1. Review of Consolidated Financial Results 2

   1. Operating Results 2

   2. Analysis of Financial Condition 4

   3. Overview of Cash Flows 5

   4. Earnings Forecast for the Fiscal Year Ending December 31, 2026 6

2. Basic Views on Adoption of Accounting Standards 6

3. Consolidated Financial Statements and Main Notes 7

   1. Consolidated Balance Sheets 7

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income 9

      Consolidated Statement of Income 9

      Consolidated Statement of Comprehensive Income 10

   3. Consolidated Statement of Changes in Net Assets 11

   4. Consolidated Statement of Cash Flows 13

   5. Notes on Consolidated Financial Statements 15

      (Note on the Going-concern Assumption) 15

      (Changes in Significant Subsidiaries During the Period) 15

      (Changes in Accounting Policies) 15

      (Changes in Presentation) 15

      (Notes to Segment Information, etc.) 15

      (Revenue Recognition) 18

      (Per Share Information) 19

      (Significant Subsequent Events) 19

4. Other 20

   1. Changes in Officers 20

   2. Weddings Held and Orders Received 20

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In the fiscal year ended December 31, 2025, the Japanese economy was on a moderate recovery path, supported by a pick-up in capital investment and consumer spending, as well as signs of improvement in employment conditions. However, the outlook remains uncertain due to the presence of downside risks to the economy, such as rising consumer prices and U.S. trade policy, as well as the impact of volatility in foreign exchange markets.

Amidst this environment, the Tsukada Global Holdings Group ("the Group") focused on creating new value, developing high-quality and attractive outlets, and providing high-value-added services in the bridal, hotel, and wellness and relaxation (W&R) markets. The Group also responded proactively to diversifying customer needs and worked to expand net sales and improve profitability.

In the Hotel business, the number of foreign visitors to Japan reached a record annual high of 42 million on a cumulative basis according to the December 2025 estimate (up 15.8% year on year; Japan National Tourism Organization, "Number of Foreign Visitors to Japan (Estimated for December 2025)") and has continued to remain at a high level. As a result, domestic luxury hotels, including "Hotel InterContinental Tokyo Bay" (Minato-ku, Tokyo), remained stable on the whole. As for "Kaimana Beach Hotel" (Hawaii, U.S.) and "Kimpton Palladian Hotel" (Washington, U.S.), which were acquired last year, we worked to improve profitability by implementing further revenue management and cost control. In April 2025, the Company opened "ANA Holiday Inn Tokyo Bay" (Shinagawa-ku, Tokyo), its fifth facility in Japan, and acquired "W Hotel Dallas Victory" (Texas, U.S.) in May of the same year, focusing on expanding its business portfolio and strengthening its operating base in the U.S. market.

In the Wedding business, the number of weddings held was 9,387 (down 0.2% year on year), a slight decrease due to the closure of some facilities, but the average wedding price has been gradually recovering. On the other hand, the number of orders decreased to 8,880 (down 11.6% year on year) due to the impact of the closure of unprofitable stores and closures for renovations. In addition, the situation for overseas weddings remains difficult in some areas due to the slow recovery in the number of Japanese traveling overseas, partly as a result of unfavorable exchange rates.

In the W&R business, the closing of unprofitable outlets last year helped stabilize earnings and enabled us to return to profitability.

As a result, net sales for the current fiscal year were ¥73,095 million (up 15.0% year on year), and in terms of profits, operating income was ¥9,540 million (up 28.8% year on year), while ordinary income was ¥7,494 million (down 3.0% year on year) due to the recording of interest expenses of

¥1,526 million associated with increased interest-bearing debt. Additionally, under extraordinary income, we recorded a gain of ¥1,259 million related to the step acquisition of equity interests in Victory Dunhill Hotel HN LLC and others, the operating company of the previously mentioned W Hotel Dallas Victory, as well as a gain on bargain purchase of ¥1,033 million. Meanwhile, under extraordinary losses, the Company recorded a loss on valuation of investment securities of ¥2,571 million. This impairment loss was recognized after carefully reviewing the performance trends and business plans of certain investee companies and reassessing the fair value of the securities held. As a result, profit attributable to owners of the parent totaled ¥4,768 million, down 7.4% year on year.

(Consolidated Statement of Income)

Results by segment are as follows:

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