〔Delayed〕The original disclosure in Japanese was released on May 7, 2021 at 15:00 (GMT+9)
May 7, 2021
Tsukada Global Holdings Inc.
Consolidated Earnings Report for the Three Months ended March 31, 2021 (Japanese GAAP)
Stock listing: Tokyo Stock Exchange (First Section) | 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 10, 2021 |
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, 2021 (January 1, 2021 - March 31, 2021)
(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 | 5,138 | (49.8) | (3,774) | - | (3,340) | - | (2,787) | - | |||||||
March 31, 2021 | |||||||||||||||
Three months ended | 10,232 | (21.6) | (2,088) | - | (2,568) | - | (2,417) | - | |||||||
March 31, 2020 | |||||||||||||||
Note: Comprehensive income: Three months ended March 31, 2021: (2,457) million yen (- %) | |||||||||||||||
Three months ended March 31, 2020: (2,849) million yen (- %) | |||||||||||||||
Profit | Diluted profit | ||||||||||||||
per share | per share | ||||||||||||||
yen | yen | ||||||||||||||
Three months ended | (58.43) | - | |||||||||||||
March 31, 2021 | |||||||||||||||
Three months ended | (50.68) | - | |||||||||||||
March 31, 2020 | |||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||
million yen | million yen | % | |||||||||||||
March 31, 2021 | 96,003 | 23,980 | 24.8 | ||||||||||||
December 31, 2020 | 99,814 | 26,437 | 26.3 | ||||||||||||
Reference: Total equity: March 31, 2021: | 23,796 million yen | ||||||||||||||
December 31, 2020: | 26,265 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, 2020 | |||||||||||
Year ending | - | ||||||||||
December 31, 2021 | |||||||||||
Year ending | |||||||||||
December 31, 2021 | 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, 2021 (January 1, 2021 - December 31, 2021)
(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 | 15,300 | 29.7 | (2,780) | - | (2,990) | - | (1,970) | - | (41.30) |
June 30, 2021 | |||||||||
Year ending | 40,000 | 47.5 | 1,000 | - | 580 | - | 380 | - | 7.97 |
December 31, 2021 | |||||||||
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.: None
- Changes other than noted in 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Shares issued (common stock)
March 31, 2021 | December 31, 2020 | |
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, 2021 | March 31, 2020 | |
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, 2021" 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, 2021 | 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) | |
(Additional Information) | 8 |
(Segment Information) | 9 |
3. Supplementary Information | 11 |
(Weddings Held and Orders Received) | 11 |
1
1. Review of Consolidated Financial Results
(1) Operating Results
In the first three months of the fiscal year ending December 31, 2021, the Japanese economy continued to face extremely difficult conditions with stagnation of economic activities owing to the resurgence of novel coronavirus infections impacting corporate earnings and employment conditions. The outlook remains uncertain as the unchecked resurgence of new infections has led to the declaration of a third state of emergency.
In this environment, the Tsukada Global Holdings Group ("the Group") focused on creating new value, developing high-quality, appealing outlets, and 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 its facilities. However, all segments of the Group were severely impacted by deteriorating consumer sentiment, which led to a decline in the number of weddings held, declines in hotel occupancy and restaurant customer numbers, which were also impacted by ongoing restrictions on overseas travel, and sluggish growth in the number of people reactivating their frozen fitness club memberships.
As a result, in the first quarter of 2021, the Group posted consolidated net sales of ¥5,138 million (down 49.8% year on year). The Group recorded a first-quarter operating loss of ¥3,774 million (compared with a loss of ¥2,088 million a year earlier) and an ordinary loss of ¥3,340 million
(compared with a loss of ¥2,568 million a year earlier). The net loss attributable to owners of the parent amounted to ¥ 2,787 million (compared with a loss of ¥2,417 million a year earlier).
The results for each business segment were as follows.
-
Wedding business
In the first three months of fiscal 2021, the wedding business recorded a sales decline owing to a decrease in the number of weddings held to 959 (down 51.1% year on year) and a decrease in the number of attendees per wedding amid the unclear prospects for an end to the pandemic. The decline came despite signs that consumer sentiment was bottoming out against the background of the resurgence of novel coronavirus infections. The segment recorded a loss due to a significant decrease in sales despite efforts to streamline wedding services through in-sourcing.
As a result, net sales in the wedding business totaled ¥2,751 million (down 57.3% year on year) and segment loss was ¥1,799 million (compared with a loss of ¥505 million a year earlier). - Hotel business
Segment sales declined in the first three months of fiscal 2021 owing to decreases in hotel occupancy and the number of restaurant customers due to the impact of restrictions on travel to Japan from overseas, falling demand for corporate banquets, and a decline in the number of weddings held at the Group's hotels to 199 (down 23.2% year on year). The segment posted a loss despite efforts to control costs through such measures as efficient personnel allocation and shift management.
As a result, net sales in the hotel business came to ¥1,720 million (down 42.1% year on year), and segment loss totaled ¥1,492 million (compared with a loss of ¥973 million a year earlier).
2
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