〔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
million yen%

Operating income

Ordinary income

million yen

million yen%%

Profit attributable toowners of the parent
million yen%

Three months ended
8,699
69.3
(I,845)(973)
March 31, 2022
Three months ended
5,138(49.8)(3,774)(3,340)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 (- %)Diluted profit
per shareyen

Profitper shareyen
Three months ended
March 31, 2022
Three months ended
March 31, 2021

(26.91)-(58.43)-(2) Consolidated Financial Position

March 31, 2022

Total assets

Net assets

Equity ratio

million yen

million yen%

87,01290,901
December 31, 2021
Reference: Total equity: March 31, 2022:
19,222 million yen
December 31, 2021:
20,452 million yen

19,42422.1

20,64122.5(1,283)-(2,787)-

2. Dividends
End-Q1yen

End-Q2yen

Dividend per share
End-Q3yen

Year ended
0.00
December 31, 2021
Year ending
December 31, 2022
Year ending
December 31, 2022
0.00
(Forecast)
Note: No revision has been made to the latest dividends forecast.

Year-endyen

Annual total
yen

-

0.00

0.00

-

0.00

0.00

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
million yen
Six months ending
June 30, 2022
Year ending
December 31, 2022%

Operating income

Ordinary income

million yen

million yen%%

Profit attributable toProfitowners of the parent
million yen%

per shareyen

25,210

92.1

(40)

-

(160)

-

(105)

-

(2.20)

60,230

80.2

5,325

-

5,055

-

3,355

-

70.34

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
(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 section “2. Quarterly Consolidated Financial Statements and Main
Notes” on page 8 in the accompanying materials.
(3) 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)1) Number of shares issued at end of period(including treasury stock)2) Number of shares held in treasury at endof period

March 31, 2022

December 31, 2021

48,960,000

48,960,000

1,259,834

1,259,834

Three Months ended Three Months ended
March 31, 2022
March 31, 2021
3) Average number of shares outstanding
during the period

47,700,166

47,700,166* Quarterly earnings reports are exempt from quarterly review conducted by certified public accountants orby 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 thisreport’s publication and on certain assumptions that are deemed reasonable. These forecasts are notguarantees of future performance, and actual results may differ from forecasts due to changes in thebusiness 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(1) Operating Results(2) Analysis of Financial Condition(3) Earnings Forecast for the Fiscal Year ending December 31, 2022
2. Quarterly Consolidated Financial Statements and Main Notes(1) Consolidated Balance Sheets(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
Consolidated Statements of Comprehensive Income(3) Notes on Quarterly Consolidated Financial Statements(Note on the Going-concern Assumption)(Note on Significant Changes in the Amount of Shareholders’ Equity)(Application of Specific Accounting Methods for the Preparation of Quarterly
Consolidated Financial Statements)(Changes in Accounting Policies)(Additional Information)(Segment Information)(Revenue Recognition)
3. Supplementary Information(Weddings Held and Orders Received)

1

2
2
3
3
4
4
6
6
7
8
8
8
8
8
10
11
12
13
13

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 tosupply 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 newvalue, 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 thepostponement 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 (comparedwith a loss of ¥3,774 million a year earlier) and an ordinary loss of ¥973 million (compared with a lossof ¥3,340 million a year earlier) due to the receipt of various subsidies and foreign exchange gains fromthe 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 "AccountingStandard 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) andsegment loss was ¥304 million (compared with a loss of ¥1,799 million a year earlier). Note thatapplication 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 aswell as demand for corporate banquets remained stagnant due to ongoing restrictions on travel fromoverseas. 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 togenerally 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), and2

segment loss totaled ¥1,077 million (compared with a loss of ¥1,492 million a year earlier). Note thatapplication of the Accounting Standard for Revenue Recognition, etc. increased net sales by ¥30
million and decreased segment loss by ¥29 million.
3) W&R businessIn the first three months of fiscal 2022, the number of visitors, net sales, and segment profit of the
Beauty & Relax SPA-HERBS spa complex all exceeded those of the previous fiscal year, but the
British-style Queensway reflexology salons struggled to attract customers, resulting in a loss despite
a slight increase in segment sales and recovering profitability.
As a result, the W&R business posted net sales of ¥685 million (up 2.8% year on year) and asegment loss of ¥107 million (compared with a loss of ¥119 million a year earlier). Note that theapplication of the Accounting Standard for Revenue Recognition, etc. decreased net sales by ¥7
million and increased segment loss by ¥1 million.
(2) Analysis of Financial Condition
Assets, Liabilities, and Net Assets
Total assets as of March 31, 2022, the end of the first three months of fiscal 2022, amounted to¥87,012 million, a decrease of ¥3,889 million from the end of the previous fiscal year (December 31,2021). The decrease was primarily due to sales of investment securities and marketable securities.
Total liabilities as of March 31, 2022, came to ¥67,587 million, a decrease of ¥2,672 million fromthe end of the previous fiscal year. The decrease mainly reflects a ¥2,899 million decline in long-term
debt and a ¥2,420 reduction in other current liabilities, which offset a ¥1,025 million increase due tothe issuance of bonds.
Net assets as of March 31, 2022, totaled ¥19,424 million, a decrease of ¥1,216 million from the endof the previous fiscal year. The decrease was primarily due to a ¥1,575 million decline in retained
earnings due chiefly to the posting of a net loss attributable to owners of the parent.
(3) Earnings Forecast for the Fiscal Year Ending December 31, 2022
There is no change to the consolidated earnings forecasts for the six months ending June 30, 2022
and the full fiscal year ending December 31, 2022 as announced in the Group’s full-year
Consolidated Earnings Report released on February 14, 2022. Note that as the impact of the
COVID-19 pandemic is highly uncertain, the Company will promptly release any revisions to its
earnings forecasts should this become necessary due to developments relating to the pandemic.

3

2. Quarterly Consolidated Financial Statements and Main Notes(1) Consolidated Balance Sheets(millions of yen)

December 31, 2021
AmountMarch 31, 2022
AmountAssetsCurrent assets
Cash and deposits
Accounts receivable - tradeMarketable securities
Merchandise
Raw materials and supplies
Other
Allowance for doubtful receivables
Total current assets

16,539
1,000
1,526
182
381
1,192
(31)
20,792

15,600
874
191
334
1,129
(30)
18,099Fixed assets
Tangible assets
Buildings and structures, net
LandConstruction in progress
Other, net
Total tangible assets

31,327
12,276611
1,633
45,84730,824
12,498763
1,583
45,670

1,732
651
2,383

1,646
833
2,479

6,361
7,369
8,032
(107)
21,65669,887
221
90,901

5,415
7,158
8,082
(113)
20,542
68,693219
87,012Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Lease and guarantee deposits
Other
Allowance for doubtful receivables
Total investments and other assets
Total fixed assets
Deferred assets
Total assets

4

(millions of yen)

December 31, 2021
AmountLiabilities
Current liabilities
Accounts payable - trade
Short-term debt
Current portion of long-term debt
Current portion of bonds
Income taxes payable
Advances received
Allowance for loss on shop closing
Asset retirement obligations
Other
Total current liabilities
Fixed liabilities
Bonds
Long-term debt
Net defined benefit liability
Provision for directors’ retirement benefits
Asset retirement obligations
Other
Total fixed liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Net unrealized gain (loss) on available-for-salesecurities
Deferred gain (loss) on derivatives under hedge
accounting
Foreign currency translation adjustments
Remeasurements of defined benefit plan
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

March 31, 2022
Amount1,726
500
11,291
2,154
222
2,788
22
277
5,543
24,525

1,638
500
11,696
2,434
324
4,100
3
34
3,122
23,855

5,393
33,528
393
914
4,529
975
45,73470,2606,418
30,629
405
922
4,536
819
43,732
67,587472
634
20,933(892)
21,146472
634
19,358(892)
19,571

(38)

(61)

(584)

(383)

(64)
(6)
(694)
189
20,64190,901

102
(7)
(349)
202
19,42487,012

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(millions of yen)

Net sales
Cost of sales
Gross profit (loss)
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Gain on investments in silent partnership
Subsidy income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on investments in capital
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary income (loss)
Extraordinary income
Gain on sales of fixed assets
Total extraordinary income
Extraordinary loss
Loss on disposal of fixed assets
Shop closing expenses
Loss on valuation of investment securities
Other
Total extraordinary loss
Profit (loss) before income taxes
Income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of the parent

6

Three months
ended March 31,
2021
Amount
5,138
5,959
(821)
2,952
(3,774)Three months
ended March 31,
2022
Amount
8,699
7,148
1,551
3,397
(1,845)

28
94
174
294
59
651

16
71
755
455
21
1,319

114
-

111
138

64

21

39
218
(3,340)

176
447
(973)

-

0
0

2
1
3
(3,344)(558)(2,786)0(2,787)0
32
3
36(1,009)272(1,282)
1(1,283)

Consolidated Statements of Comprehensive Income(millions of yen)

Profit (loss)
Other comprehensive income
Net unrealized gain (loss) on available-for-salesecurities
Deferred gain (loss) on derivatives under hedge
accounting
Foreign currency translation adjustments
Remeasurements of defined benefit plan
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of theparentComprehensive income attributable to noncontrolling interests

7

Three months
ended March 31,
2021
Amount(2,786)

Three months
ended March 31,
2022
Amount(1,282)

(20)

(23)

135

201

110
(0)

83
(0)

103

96

329
(2,457)357(924)(2,469)

(938)

12

13

(3) Notes on Quarterly Consolidated Financial Statements(Note on the Going-concern Assumption)
Not applicable(Note on Significant Changes in the Amount of Shareholders’ Equity)
Not applicable(Application of Specific Accounting Methods for the Preparation of Quarterly
Consolidated Financial Statements)(Simplified accounting methods)
1) Calculation method for depreciation of fixed assets
Depreciation expenses for assets to which the declining-balance method is applied are
calculated by allocating a quarterly proportion of the amount for the full fiscal year.
2) Calculation method for deferred tax assets and deferred tax liabilities
Regarding judgments on the amount of recoverable deferred tax assets, the Company has
determined that there have been no significant changes in the economic environment or
emergence of temporary differences since the end of the previous fiscal year, and therefore
the calculations are based on future earnings forecasts from the previous fiscal year and tax
planning methods.
(Special accounting treatments)
Calculation of taxes
The Company calculates tax liabilities by producing a reasonable estimate of the effective tax
rate after applying tax-effect accounting to profit (loss) before income taxes for the fiscal year,
which encompasses the first quarter ended March 31, 2022, and then multiplying profit (loss)
before income taxes by this estimated effective tax rate. In cases where this estimatedeffective tax rate cannot be used, the statutory effective tax rate is used.
(Changes in Accounting Policies)(Application of Accounting Standard for Revenue Recognition, etc.)
The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020)
and related guidelines have been applied from the beginning of the first quarter of fiscal 2022. Inline with this, revenue is recognized upon the transfer of control for the promised goods orservices to customers in an amount that reflects the consideration which they expect to receive in
exchange for those goods or services.
The major changes due to the application of the Accounting Standard for Revenue
Recognition, etc. are as follows.
1) Revenue recognition related to the Wedding business
Regarding the recognition of revenue related to the Wedding business, revenue had
previously been recognized on the date on which the wedding ceremony or banquet was held
but from the beginning of the first quarter of fiscal 2022, the recognition method has beenchanged so that revenue is recognized for certain transactions at the point in time when thehandover of the goods or the delivery of the goods has been completed.

82) Revenue recognition related to the Hotel business
Regarding the recognition of revenue related to the Hotel business, revenue had previously
been recognized on the check-in date of the customer (or on the first day of the stay forconsecutive night stays) but from the beginning of the first quarter of fiscal 2022, given that
services are provided throughout the period from the check-in date to the check-out date, therecognition method has been changed so that revenue is recognized in line with the progress
made in the provision of services.
3) Revenue recognition related to bonus points
Regarding the recognition of revenue related to the W&R business, bonus points awarded tocustomers at the time of sales had previously been recognized as selling, general andadministrative expenses but from the beginning of the first quarter of fiscal 2022, therecognition method has been changed so that they are recognized as performanceobligations and the transaction price is allocated to the performance obligations based on thestand-alone selling price calculated considering the expected forfeiture rate, etc. of the bonus
points.
In the application of the Accounting Standard for Revenue Recognition, etc., in accordance withthe transitional treatment set forth in the proviso of Paragraph 84 of the Accounting Standard for
Revenue Recognition, the cumulative effect of retrospective application of the new accounting
policies prior to the beginning of the first quarter of fiscal 2022 was added to or subtracted fromretained earnings at the beginning of the first quarter of fiscal 2022. However, based on themethod set forth in Paragraph 86 of the Accounting Standard for Revenue Recognition, the new
accounting policies have not been retrospectively applied to the contracts in which almost all of
the revenue amount had been recognized prior to the beginning of the first quarter of fiscal 2022
in accordance with the previous treatment. In addition, based on supplementary provision (1),Paragraph 86 of the Accounting Standard for Revenue Recognition, regarding contracts modified
prior to the beginning of the first quarter of fiscal 2022, accounting treatment has been
implemented based on the contract conditions made after reflecting all the modifications to thecontracts, and the cumulative effects are added to or subtracted from retained earnings at the
beginning of the first quarter of fiscal 2022.
As a result, for the first quarter of fiscal 2022, net sales increased by ¥127 million; cost of
sales increased by ¥1 million; selling, general and administrative expenses decreased by ¥2
million; and operating loss, ordinary loss and loss before income taxes decreased by ¥128
million, respectively. In addition, the balance of retained earnings at the beginning of the year
decreased by ¥291 million.
Due to the application of the Accounting Standard for Revenue Recognition, etc., a portion of“Advances received” reported under “Current liabilities” in the consolidated balance sheets of the
fiscal year ended December 31, 2021 has been included in “Other” from the first quarter of fiscal
2022. Based on the transitional treatment set forth in Paragraph 89-2 of the Accounting Standard
for Revenue Recognition, comparative information for the previous fiscal year has not been
restated to reflect the new method of presentation. Furthermore, in accordance with thetransitional treatment set forth in Paragraph 28-15 of the "Accounting Standard for Quarterly
Financial Reporting" (ASBJ Statement No. 12, March 31, 2020), information on the
disaggregation of revenue arising from contracts with customers for the first three months ended
March 31, 2021 is not presented.

9

(Application of “Accounting Standard for Fair Value Measurement,” etc.)
The “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4,2019) and related guidelines have been applied from the beginning of the first quarter of fiscal
2022. In accordance with the transitional treatment set forth in Paragraph 19 of the AccountingStandard for Fair Value Measurement and Paragraph 44-2 of the “Accounting Standard for
Financial Instruments” (ASBJ Statement No. 10, July 4, 2019), the new accounting policies
set forth in the Accounting Standard for Fair Value Measurement, etc., have beenprospectively applied. These changes have no impact on the quarterly consolidated financial
statements.
(Additional Information)
There are no significant changes to the assumptions regarding the impacts of the COVID-19
pandemic stated under “Additional Information” of the Consolidated Earnings Report for the
Fiscal Year ended December 31, 2021.
However, given the many uncertainties surrounding the impacts of the pandemic, theGroup’s financial position and the operating results for the fiscal year ending December 31,
2022 could be significantly affected, in the event that social and economic activities stall due tothe further spread of infections.

10(Segment Information)
I. Three months ended March 31, 2021 (January 1 to March 31, 2021)
1. Net sales and income/loss by reportable segment(millions of yen)

Reportable segment

Amountrecorded on

Weddingbusiness
Net sales
Sales to outside
customers
Inter-segment sales andtransfersHotelbusiness

W&R
business

Total

consolidated
Adjustments

statements of(note 1)income (note 2)

2,751

1,720

666

5,138

-

5,138

232

34

7

274

(274)

-

Total

2,983

1,754

674

5,412

(274)

5,138

Segment loss

(1,799)(1,492)(119)(3,411)(362)(3,774)

Notes: 1. Minus 362 million yen adjustments for the segment loss include 4 million yen elimination of intersegment sales and minus 367 million yen corporate expenses that are not allocated to eachreportable segment. The main component of these unallocated corporate expenses is general andadministrative expenses that are not attributable to reportable segments.
2. Segment loss adjustments are based on operating loss reported on the quarterly consolidated
statements of income for the corresponding period.

2. Impairment loss on fixed assets or goodwill by reportable segment
Not applicable11II. Three months ended March 31, 2022 (January 1 to March 31, 2022)
1. Net sales and income/loss by reportable segment and information on the disaggregation of revenue(millions of yen)

Reportable segment

Amountrecorded on

Weddingbusiness
Net sales
Revenue from contracts
with customers
Other revenue

Hotelbusiness

W&R
business

Total

consolidated
Adjustments

statements of(note 1)income (note 2)

5,519

2,472

685

8,676

-

8,676

22

-

-

22

-

22

5,542

2,472

685

8,699

-

8,699

354

169

6

531

(531)

-

Total

5,897

2,641

691

9,230

(531)

8,699

Segment loss

(304)

(1,077)(107)(1,489)(356)(1,845)

Sales to outside
customers
Inter-segment sales andtransfers

Notes: 1. Minus 356 million yen adjustments for the segment loss include 19 million yen elimination of intersegment sales and minus 375 million yen corporate expenses that are not allocated to eachreportable segment. The main component of these unallocated corporate expenses is general andadministrative expenses that are not attributable to reportable segments.
2. Segment loss adjustments are based on operating loss reported on the quarterly consolidated
statements of income for the corresponding period.

2. Impairment loss on fixed assets or goodwill by reportable segment
Not applicable
3. Matters related to changes in reportable segments, etc.
As stated in (Application of Accounting Standard for Revenue Recognition, etc.) under Changes
in Accounting Policies, due to changes in accounting treatment for revenue recognition as a resultof the application of the Accounting Standard for Revenue Recognition, etc., similar changes
have been made to the method of calculating segment income/loss. As a result of this change, forthe three months ended March 31, 2022, net sales in the “Wedding business” and the “Hotelbusiness” increased by ¥104 million and ¥30 million, respectively, while net sales in the “W&Rbusiness” decreased by ¥7 million. Additionally, segment loss in the “Wedding business” and in
the “Hotel business” decreased by ¥100 million and ¥29 million, respectively, while segment loss
in the “W&R business” increased by ¥1 million.
(Revenue Recognition)
Information on the disaggregation of revenue from contracts with customers is as stated in“Notes on Quarterly Consolidated Financial Statements (Segment Information)”.

12

3. Supplementary Information(Weddings Held and Orders Received)1) Number of weddings held

Segment

Three months ended
March 31, 2021

Three months ended
March 31, 2022

Year ended
December 31, 2021

Number of weddings

Number of weddings

Number of weddings

held (cases)

held (cases)

held (cases)

Wedding business

959

1,762

7,084

Hotel business

199

286

1,259

Total

1,158

2,048

8,343

2) Wedding orders received

Segment

Three months ended
March 31, 2021

Three months ended
March 31, 2022

Year ended
December 31, 2021

Orders

Order

Orders

Order

OrdersOrder

receivedbacklog

receivedbacklog

receivedbacklog(cases)(cases)(cases)(cases)(cases)(cases)

1,688

7,067

2,751

7,996

7,753

7,007

Hotel business

318

1,297

446

1 ,381

1,302

1,221

Total

2,006

8,364

3,197

9,377

9,055

8,228

Wedding business13