〔Delayed〕The original disclosure in Japanese was released on May 12, 2022 at 15:00 (GMT+9)
May 12, 2022
Tsukada Global Holdings Inc.
Consolidated Earnings Report for the Three Months ended March 31, 2022 (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 13, 2022 |
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, 2022 (January 1, 2022 - March 31, 2022)
(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 | 8,699 | 69.3 | (I,845) | - | (973) | - | (1,283) | - | |||||||
March 31, 2022 | |||||||||||||||
Three months ended | 5,138 | (49.8) | (3,774) | - | (3,340) | - | (2,787) | - | |||||||
March 31, 2021 | |||||||||||||||
Note: Comprehensive income: Three months ended March 31, 2022: (924) million yen (- %) | |||||||||||||||
Three months ended March 31, 2021: (2,457) million yen (- %) | |||||||||||||||
Profit | Diluted profit | ||||||||||||||
per share | per share | ||||||||||||||
yen | yen | ||||||||||||||
Three months ended | (26.91) | - | |||||||||||||
March 31, 2022 | |||||||||||||||
Three months ended | (58.43) | - | |||||||||||||
March 31, 2021 | |||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||
million yen | million yen | % | |||||||||||||
March 31, 2022 | 87,012 | 19,424 | 22.1 | ||||||||||||
December 31, 2021 | 90,901 | 20,641 | 22.5 | ||||||||||||
Reference: Total equity: March 31, 2022: | 19,222 million yen | ||||||||||||||
December 31, 2021: | 20,452 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 | - | 0.00 | 0.00 | ||||||
December 31, 2021 | |||||||||||
Year ending | - | ||||||||||
December 31, 2022 | |||||||||||
Year ending | |||||||||||
December 31, 2022 | 0.00 | - | 0.00 | 0.00 | |||||||
(Forecast) |
Note: No revision has been made to the latest dividends forecast.
3. Earnings Forecast for the Fiscal Year ending December 31, 2022 (January 1, 2022- December 31, 2022)
(Percentages indicate year-on-year changes)
Net sales | Operating income | Ordinary income | Profit attributable to | Profit | |||||
owners of the parent | per share | ||||||||
million yen | % | million yen | % | million yen | % | million yen | % | yen | |
Six months ending | 25,210 | 92.1 | (40) | - | (160) | - | (105) | - | (2.20) |
June 30, 2022 | |||||||||
Year ending | 60,230 | 80.2 | 5,325 | - | 5,055 | - | 3,355 | - | 70.34 |
December 31, 2022 | |||||||||
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 |
- 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 8 in the accompanying materials.- Changes in accounting policy, changes in accounting estimates, and retrospective restatement
- Changes in accordance with amendments to accounting standards, etc.: Yes
- Changes other than noted in 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
(4) Shares issued (common stock) | |||
March 31, 2022 | December 31, 2021 | ||
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, 2022 | March 31, 2021 | ||
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-LookingStatements)
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, 2022" 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, 2022 | 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 |
(Additional Information) | 10 |
(Segment Information) | 11 |
(Revenue Recognition) | 12 |
3. Supplementary Information | 13 |
(Weddings Held and Orders Received) | 13 |
1
1. Review of Consolidated Financial Results
(1) Operating Results
During the first three months of the fiscal year ending December 31, 2022, the Japanese economy showed signs of recovery in economic and social activities, as evidenced by the lifting of priority measures to prevent the spread of COVID-19 infections, but the outlook remains uncertain due to supply chain disruptions caused by heightened geopolitical risks and soaring logistics costs and raw material prices.
In this environment, the Tsukada Global Holdings Group ("the Group") focused on creating new value, developing high-quality, appealing outlets, providing high value-added services in the bridal, hotel, and wellness and relaxation (W&R) markets, and on taking all possible measures to prevent novel coronavirus infections at all of its facilities.
Although signs of recovery began to emerge with the lifting of priority measures to prevent the spread of the Omicron variant in March of this year, it remains difficult to predict the future due to the postponement of wedding ceremonies in January as a result of the rapid spread of Omicron infections and the slow recovery in the average number of guests per wedding and overnight occupancy rates.
As a result, in the first quarter of 2022, the Group posted consolidated net sales of ¥8,699 million (up 69.3% year on year). The Group recorded a first-quarter operating loss of ¥1,845 million (compared with a loss of ¥3,774 million a year earlier) and an ordinary loss of ¥973 million (compared with a loss of ¥3,340 million a year earlier) due to the receipt of various subsidies and foreign exchange gains from the sharp depreciation of the yen. The net loss attributable to owners of the parent amounted to ¥1,283 million (compared with a loss of ¥2,787 million a year earlier). Note that application of the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc., increased net sales by ¥127 million and decreased operating loss, ordinary loss, and loss before income taxes by ¥128 million, respectively.
The results for each business segment were as follows.
1) Wedding business
During the first three months of fiscal 2022, amid priority measures to prevent a resurgence of COVID-19 infections, the number of weddings held increased to 1,762 (up 83.7% year on year), contributing to a gradual recovery in sales. However, the segment recorded a loss due to a decline in profitability as a result of a decrease in the average number of guests per wedding.
As a result, net sales in the wedding business totaled ¥5,542 million (up 101.5% year on year) and segment loss was ¥304 million (compared with a loss of ¥1,799 million a year earlier). Note that application of the Accounting Standard for Revenue Recognition, etc. increased net sales by ¥104 million and decreased segment loss by ¥100 million.
2) Hotel business
During the first three months of fiscal 2022, demand from hotel guests and restaurant customers as well as demand for corporate banquets remained stagnant due to ongoing restrictions on travel from overseas. Although the number of weddings held at the Group's hotels increased to 286 (up 43.7% year on year), contributing to a gradual recovery in sales, the segment recorded a loss due to generally low overnight occupancy rates, the earnings pillar of the business.
As a result, net sales in the hotel business came to ¥2,472 million (up 43.7% year on year), and
2
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