2026.05.20 〔Delayed〕Tsukada Global Holdings Inc.Consolidated Earnings Report for the Three Months ended March 31, 2026(Japanese GAAP)

May 12, 2026

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

Representative: Masayuki Tsukada, President and CEO

Information contact: Masahiro Yamasaki, Manager, Finance &

Accounting Department

(TEL) 03-5464-0081

Dividend payout: -

Supplementary materials to financial results available: No Earnings presentation held: No

(Amounts rounded down to the nearest million yen)

1. Consolidated Performance for the Three Months Ended March 31, 2026 (January 1, 2026 - March 31, 2026)

   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 March 31, 2026	17,235	8.8	1,200	(7.7)	1,069	101.0	836	203.3
      Three months ended March 31, 2025	15,842	18.0	1,301	74.1	532	(60.3)	275	(72.4)

      Note: Comprehensive income Three months ended March 31, 2026: 1,618 million yen (- %)

      Three months ended March 31, 2025: (360) million yen (- %)

      	Profit per share	Diluted profit per share
      	yen	yen
      Three months ended March 31, 2026	17.71	-
      Three months ended March 31, 2025	5.80	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   	million yen	million yen	%
   March 31, 2026	139,544	39,890	26.7
   December 31, 2025	140,138	39,792	26.6

   Reference: Total equity: March 31, 2026: 37,299 million yen

   December 31, 2025: 37,212 million yen

2. Dividends

   	Dividend per share
   	End-Q1	End-Q2	End-Q3	Year-end	Annual total
   	yen	yen	yen	yen	yen
   Year ended December 31, 2025	-	6.00	-	6.00	12.00
   Year ending December 31, 2026	-
   Year ending December 31, 2026 (Forecast)		7.00	-	7.00	14.00

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

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

   (Percentages indicate year-on-year changes)

   	Net sales		Operating income		Ordinary	income	Profit attributable to owners of the parent		Profit per share
   	million yen	%	million yen	%	million yen	%	million yen	%	yen
   Six months ending June 30, 2026	37,090	9.9	3,690	(4.7)	3,044	31.6	2,092	(52.3)	44.40
   Year ending December 31, 2026	77,797	6.4	10,095	5.8	8,814	17.6	6,014	26.1	127.72

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

   *Notes

   1. Significant changes in the scope of consolidation during the period: None Newly consolidated: None Deconsolidated: None

   2. 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 the section "2. Quarterly Consolidated Financial Statements and Main Notes" on page 9 in the accompanying materials.

   3. Changes in accounting policy, changes in accounting estimates, and retrospective restatement

      1. Changes in accounting policy in accordance with amendments to accounting standards, etc.: None

      2. Changes in accounting policy other than noted in 1) above: None

      3. Changes in accounting estimates: None

      4. Retrospective restatement: None

   4. Shares issued (common stock)

• Review of the accompanying quarterly consolidated financial statements by a certified public accountant or an auditing firm: None

• Appropriate Use of Earnings Forecast and Other Important Information

(Cautionary Statement with Respect to Forward-Looking Statements)

Pursuant to a resolution adopted at the Board of Directors meeting held on February 10, 2026, the Company purchased treasury stock. "Profit per share" in the consolidated earnings forecast takes into account the purchase of treasury stock.

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, 2026" in the section "1. Review of Consolidated Financial Results" on page 2 in the accompanying materials.

Accompanying Material - Contents

1. Review of Consolidated Financial Results 2

   1. Operating Results 2

   2. Analysis of Financial Condition 4

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

2. Quarterly Consolidated Financial Statements and Main Notes 5

   1. Consolidated Balance Sheets 5

   2. Consolidated Statements of Income and Comprehensive Income 7

      Consolidated Statements of Income 7

      Consolidated Statements of Comprehensive Income 8

   3. Notes on Quarterly Consolidated Financial Statements 9

      (Note on the Going-concern Assumption) 9

      (Note on Significant Changes in the Amount of Shareholders' Equity) 9

      (Application of Specific Accounting Methods for the Preparation of Quarterly Consolidated Financial Statements) 9

      (Notes on Consolidated Statements of Cash Flows) 9

      (Notes to Segment Information, etc.) 10

      (Revenue Recognition) 11

3. Supplementary Information 11

(Weddings Held and Orders Received) 11

1. ‌Review of Consolidated Financial Results

Operating Results and Analysis of Financial Condition

In the three months ended March 31, 2026, 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 rising domestic corporate and consumer prices as well as the impact of the situation in the Middle East.

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 on accurately responding to diversifying customer needs, and thereby strived to expand net sales and to improve profitability.

In the Hotel business, the cumulative number of foreign visitors to Japan for 2026 in the quarter through March reached record-high 10 million (up 1.4% from the same quarter of the previous year: Japan National Tourism Organization "2026 Visitor Arrivals & Japanese Overseas Travelers (Preliminary figures in March 2026)"), remaining at a high level despite negative factors such as travel restrictions imposed by the Chinese government and the impact of the situation in the Middle East. As a result, domestic luxury hotels, including "Hotel InterContinental Tokyo Bay" (Minato-ku, Tokyo), "The Strings by InterContinental Tokyo" (Shinagawa-ku, Tokyo), and "Kimpton Shinjuku Tokyo" (Shinjuku-ku, Tokyo) remained stable. In addition, as for our three hotels in the U.S., we worked to improve profitability by implementing further revenue management and cost control.

In the Wedding business, the number of weddings held was 1,796 (down 11.4% year on year), the number of orders received was 2,558 (down 7.4% year on year), due to store closures and closures for large-scale renovations, but the average wedding price continued to recover gradually.

As a result, in the first three months of fiscal 2026, the Group posted consolidated net sales of

¥17,235 million (up 8.8% year on year). Operating income was ¥1,200 million (down 7.7% year on year), and the ordinary income was ¥1,069 million (up 101.0% year on year) as the foreign exchange loss of ¥560 million recorded in non-operating expenses in the same period of the previous year changed to a foreign exchange gain of ¥140 million in the current period. Profit attributable to owners of the parent was ¥836 million (up 203.3% year on year).

(Consolidated Statement of Income)

The results for each business segment were as follows.

1. Wedding business

   In the first three months of fiscal 2026, the number of weddings held fell to 1,796 (down 11.4% year on year) due to store closures and closures for large-scale renovations. Although the average price per wedding continued its gradual recovery, net sales decreased. In terms of profits, earnings declined due to a decrease in the number of weddings held, as well as the impact of rising energy costs and raw material prices.

   As a result, net sales in the Wedding business totaled ¥8,099 million (down 3.7% year on year) and segment income was ¥805 million (down 17.8% year on year).

2. Hotel business

   In the first three months of fiscal 2026, the number of hotel weddings held slightly decreased to 370 (down 1.1% year on year). However, "W Hotel Dallas Victory" (Texas, U.S.) and "ANA Holiday Inn Tokyo Bay" (Shinagawa-ku, Tokyo) acquired last year contributed to sales and the impact of the record-high number of foreign visitors to Japan contributed to steady occupancy rates and ADR (Average Daily Rate) at domestic luxury hotels such as "Hotel InterContinental Tokyo Bay" (Minato-ku, Tokyo).

   As a result, net sales in the Hotel business totaled ¥8,405 million (up 25.5% year on year) and segment income was ¥947 million (up 21.2% year on year).

3. W&R business

In the first three months of fiscal 2026, while the number of visitors and food and beverage sales of the "Beauty & Relax SPA-HERBS" spa complex remained strong, the business environment for the British-style "Queensway" reflexology salons continued to be challenging, resulting in both net sales and segment income declining slightly.

As a result, net sales in the W&R business totaled ¥731 million (down 0.7% year on year) and segment income was ¥53 million (down 3.0% year on year).

(Segment information) (Millions of yen)