Results of Operations
for the First Quarter of the Fiscal Year Ending October 31, 2024

IKK Holdings Inc.
(Listed on TSE Prime Market,
Securities code 2198)

I.1Q FY2024 Consolidated Financial Highlight

Copyright IKK Inc. All Right Reserved.

1

1Q FY2024 Consolidated Overview

I. FY2024 1Q results

Net sales reached a new record for the quarter and the average sales per wedding exceeded the plan.

Net sales: ¥5,156 million (+5.0 % YoY)
The number of weddings and receptions remained high, and the average sales per wedding was ¥3,965 thousand,which exceeded the plan.

Operating profit: ¥436 million (+20.6 % YoY)
Based on the above results, operating profit remained firm.

Profit attributable to owners of parent: ¥286 million (+58.8% YoY)
Order backlog (at the end of January 2024): 4,926 weddings (-6.5% YoY)
Despite a decrease due to an increase in the number of weddings and receptions, order backlog remained high.
[Reference]
The order backlog at the end of January 2024 had 5.6% more couples than the backlog of 4,663 weddings* at the end ofJanuary 2020, which is the most recent first quarter prior to the start of the pandemic. This is a return to growth incomparison with pre-pandemic figures.

*The backlog as of the end of January 2020 does not include the Mito Branch and four overseas locations, which were not yet accepting orders.

Copyright IKK Inc. All Right Reserved.

2

1Q FY2024 Consolidated Financial Highlights

I. FY2024 1Q results(Millions of yen)

1Q FY2023
Amount1Q FY2024% to sales

AmountYoY change% to sales

Amount%Net sales

4,912

100.0

5,156

100.0

244

5.0

Wedding operations

4,696

95.6

4,821

93.5

124

2.7

Nursing-care operations

140

2.9

156

3.0

16

11.5

Food Business

66

1.3

70

1.4

4

6.1

Photography Business

43

0.9

150

2.9

106

243.5

Matrimonial Matchmaking
Business

1

0.0

5

0.1

3

199.5

Gross profit

2,838

57.8

3,041

59.0

202

7.1

SG&A expenses

2,476

50.4

2,604

50.5

128

5.2

Operating income

362

7.4

436

8.5

74

20.6

Ordinary income

369

7.5

442

8.6

72

19.7

Profit attributable to owners ofparent

180

3.7

286

5.5

105

58.8

Net income per share (Yen)

6.15

-

9.90

-

-

-

Copyright IKK Inc. All Right Reserved.

3

Net Sales

I. FY2024 1Q results

Net sales, number of banquet halls

1Q
Net sales
Banquet halls (Japan)(Millions of yen)
24,000+65.3%

20,00019,056

16,00014,00012,00010,0008,000
6,000

 Steady recovery from the sales decline
caused by COVID-19 to record-high sales

0

4Q

Banquet halls (Overseas)+6.2%-56.7%

8,746
1,087
283
3,129
4,246
3

+31.8%

3,507

FY2020

Copyright IKK Inc. All Right Reserved.

60

50
45
40

36

35

5,763

30

5,670

25
20

5,024

15

3,716
5,156

10
5

2,392

3,897

4,912

5

6

6

7

FY2021

FY2022

FY2023

FY2024(1Q)

1,900(Number ofbanquet halls)

55

6,289

36

11,5303,729

21,99023,350（Plan）

5,771
35

35

35

4,000
2,000

3Q

+15.4%

22,00018,0002Q

04

Quarterly Net Sales

I. FY2024 1Q results

Net sales
1Q(Millions of yen)
7,000
6,500

2Q

3Q

 Record-high sales
in each quarter4Q

 Fewer weddings due to the growing number of
postponements because of COVID-19
 Recommended postponements of weddings and receptions
until the end of August 2020

6,289

6,000
5,500

4,912 5,024

5,000
4,500

3,000

3,507

3,729

3,897 3,716

3,129
2,392

2,500
1,900

2,000
1,500

1,087

1,000
500
0

5,156

4,246

4,000
3,500

5,763

5,6705,771

283

FY2020

Copyright IKK Inc. All Right Reserved.

 A gradual recovery
started in September
2020

FY2021

FY2022

FY2023

FY2024(1Q)

5

Wedding Business
1Q FY2023 1Q FY2024
results
results

I. FY2024 1Q results
YoY change

AmountNumber of weddings, average sales per wedding%

Net sales(Millions of yen)

4,696

4,821

124

2.7

Number of
branches in Japan

19

20

1

5.3

Number of
branches overseas

5

6

1

20.0

 Due to COVID-19, the average number wedding reception/party guests
declined. But this trend stopped in FY2021 and a recovery is expected.

(Number of
weddings)
7,000

3,798

3,847

1,254

Japan

1,233

1,180

(53)

(4.3)

Overseas

21

21

0

0.0

1,201

(53)

(4.2)

Orders for
weddings*¹

1,300

1,253

(47)

(3.6)

Order backlog*¹

5,269

4,926

(343)

(6.5)

3,965

240

6.5

*1 The number of overseas branches includes locations operating on an outsourcing basis.
*2 Orders for weddings and order backlog do not include overseas wedding business.
*3 The average sales per wedding does not include ordinary banquets, cancellation fees andoverseas wedding business.

3,215

6,000
5,500

(Thousands of
yen)
4,200
4,000
3,800

5,515

5,665
(Plan)

5,088

5,000

3,600
3,400
3,200
3,000

4,500
4,000

3,381

3,500
3,000
2,500

3,725

3,965

3,608

6,500

Number of
weddings

Average sales per
wedding*²(Thousands of yen)

Number of weddings
Average sales per wedding (Thousands of yen)

2,000

2,136

1,500

1,201

1,000
500
0

FY2020

FY2021

FY2022

FY2023

FY2024(1Q)* Number of weddings include results of overseas business.
Copyright IKK Inc. All Right Reserved.

6

Quarterly Trends in Number of Weddings

I. FY2024 1Q results

Number of weddings(Number of
weddings)

1Q

2Q

3Q

 Record-high number of
weddings in eachquarter except 3Q

4Q

1,800
1,600

 Fewer weddings due to the growing number of
postponements because of COVID-19
 Recommended postponements of weddings andreceptions until the end of August 2020

1,540

1,490 1,532

1,436

1,400
1,254
1,200
1,000
800

1,063 1,081

1,002

751

1,201

1,049 1,017

712

600

525

400

 A gradual recovery started in
September 2020

319

200
0

1,285

64

FY2020

FY2021

FY2022

FY2023

FY2024(1Q)* Number of weddings include results of overseas business.
Copyright IKK Inc. All Right Reserved.

7

Quarterly Trends in Orders for Weddings

I. FY2024 1Q results

Orders for weddings(Orders for
weddings)

1,600

1Q

2Q

3Q

4Q

Order decreased because of fewer
customers due to COVID-19

1,497

1,400
1,277 1,267

1,300
1,289 1,275 1,302

1,253

1,186

1,200

1,031
1,000

906

882

800

699

848

886

717

600
464
400
200
0

FY2020

FY2021

FY2022

FY2023

FY2024(1Q)* Orders for weddings include results of overseas business.
Copyright IKK Inc. All Right Reserved.

8

Quarterly Trends in Operating Profit

I. FY2024 1Q results

Operating profit
1Q(Millions of yen)
2,500

2Q

3Q

4Q

 Fewer weddings due to the growing
number of postponements becauseof COVID-19
 Recommended postponements of
weddings and receptions until theend of August 2020

2,000
1,500

1,078

1,000
500
0

970

774

707
436

362
82

7
(33)

120
(164)

(84)

FY2022

FY2023(500)(596)(1,000)(909)(1,500)(1,453)(2,000)(2,500)(738)(1,938)FY2020

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FY2021

FY2024(1Q)

9

Trends in Gross Profit and SG&A
Gross Profit

SG&A
1Q

2Q

3Q

1Q
(Millions of yen)

4Q

(Millions of yen)

14,00014,00012,887
12,000

11,24010,000

6,473
6,000
4,237
435
1,654
2,000
2,299
0

2,161

3,797

3,380

8,000

3,416
6,000

2,870
2,022
1,317
971

4,000
2,267

2,838

3,041

8,072

1,888

2,079

1,786

2,251

4Q

SG&A/sales ratio
（% ）

60

70.0

8,218

2,291
FY2021

3Q

49.5

49.7

50

10,932
9,431

2,826

40

2,673

30

2,629

2,338
2,055

20
2,955

2,056

2,316
10

2,000

(2,000)

Copyright IKK Inc. All Right Reserved.

94.0

2,152

(151)
FY20202Q

 SG&A expenses in the thirdand forth quarter
12,000 decreased from one year
earlier as a result ofrevisions to investment
plans and theof
10,000 implementation
proactive cost reductions

3,403

8,000

4,000

I. FY2024 1Q results

FY2022

FY2023

FY2024
(1Q)

1,881

2,146

2,476

2,604

0

0
FY2020

FY2021

FY2022

FY2023

FY2024(1Q)

10

Trends in Operating Profit and Ordinary Profit
Operating Profit
1Q

Ordinary Profit
2Q

3Q

4Q

(Millions of yen)operating profit margin（%）(Millions of yen)

5,000
9.5

4,000

8.9

3,000

0

(3,981)
7
(596)

82
(909)

(1,938)

(738)
(33)

(1,000)(2,000)(3,000)(1,599)

1,808

1,955

774

970

1,078
120
(164)

707
362
(84)

4,000

10

3,000
2,000

(3,524)0(4,000)(4,000)(5,000)(5,000)

Copyright IKK Inc. All Right Reserved.

FY202314(589)(1,000)(2,000)

FY2022

FY2024
(1Q)

4Q

15

9.1

10
5

1,000
436

3Q

11.0

(3,000)

FY20212Q

0(1,453)

FY2020

1Q

5,000

15

5

2,000
1,000

I. FY2024 1Q results

2,096

2,005

815

988

1,112

442

FY2024

225
92
(448)
(480)

220
(52)

713
369
(65)

FY2021

FY2022

FY2023(610)

0(1,934)(1,014)FY2020(1Q)

11

Consolidated Balance Sheet

I. FY2024 1Q results(Millions of yen)Oct. 31, 2023
AmountJan. 31, 2024

Comp. (%)

AmountComp. (%)

YoY change

Current assets

6,376

31.9

4,800

26.3

(1,576)(Cash and deposits)

5,011

25.0

3,683

20.2

(1,328)

447

2.2

231

1.3

(216)

Non-current assets

13,63568.1

13,461

73.7

(173)

(Property, plant and equipment)

11,10955.5

11,07960.7(30)

Total assets

20,012100.0

18,261100.0(1,750)Current liabilities

5,103

25.5

3,969

21.7

(1,134)(Accounts payable-trade)

915

4.6

475

2.6

(440)

(Income taxes payable)

315

1.6

5

0.0

(309)

Non-current liabilities

4,858

24.3

5,158

28.2

299

Total liabilities

9,961

49.8

9,127

50.0

(834)

(Interest-bearing debt)

4,397

22.0

4,673

25.6

276

Total net assets

10,050

50.2

9,134

50.0

(915)

Total liabilities and net assets

20,012100.0

18,261100.0(1,750)(Accounts receivable-trade)

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12

Financial Position

I. FY2024 1Q results

Total assets, net assets, equity ratio
Total
assetsNet
assetsInterest-bearing debt
Loans

Equity ratio

Dependence oninterest-bearing debt

(Millions of yen)(%)

(Millions of yen)(%)

25,00090

15,00050

20,251
20,00017,89880
20,012
18,261

17,60360
50.0

15,000
44.1

43.0

45.1

9,170

10,0007,923

49.8

10,050

9,134

7,604

40

70

34.8
10,000

30.2

50

23.7

22.0

5,314
5,000

4,802

4,397

4,673

20

5,000

30

6,227

40
30

25.6

20

10

10
0

FY2020

FY2021

FY2022

FY2023

FY2024(1Q)

0

0

FY2020

FY2021

FY2022

FY2023

FY2024(1Q)

0*Dependence on interest-bearing debt = Interest-bearing debt / Total assets
Copyright IKK Inc. All Right Reserved.

13

Topics
Plan to open the second branch of wedding business in Koto-ku

Name

Not yet decided

Location

1-chome Ariake, Koto-ku, Tokyo

Opening

Spring 2026 (tentative)

Facilities
Nearest station

Marine sports, beach sports, café,
restaurant, multipurpose hall (tentative)
Ariake Tennis no Mori Station,
Tokyo Waterfront New Transit Rinkai Line

Copyright IKK Inc. All Right Reserved.

 Following submission of an application, IKK has been selected as one of thecompanies to operate a business at the Private-Public Sector Project at the Tokyo
Metropolitan Ariake Shinsui Kaihin Park.
 Development projects are continuing at this park, which is being transformed after
its use as part of the activities involving the 2020 Tokyo Summer Olympics.
 IKK plans to build a waterfront facility in the west cove zone with a restaurant, caféand other amenities that are also suitable for weddings and other events as well as
space for marine and beach sports.

14II. FY2024 Consolidated Forecast

Copyright IKK Inc. All Right Reserved.

15

Summary of FY2024 Consolidated Forecast

II. FY2024 forecast

Forecast record-high number of weddings and sales

Forecast record-high sales due to first full-year operation of the Mito location andhigher sales per wedding
Net sales ¥ 23,350 million (+6.2% YoY) The Mito location opened in April 2023 and will make its first full fiscal-year contribution to sales andearnings in FY2024.
 In Japan, planning on 5,550 weddings, up 120, and avg. sales per wedding of ¥3,914,000.

Operating profit ¥ 2,130 million (+8.9% YoY) Forecast higher personnel expenses because of activities for recruiting, training and retaining skilled
people who will be essential for growth in the future.
 Planning on substantial expenditures for advertising, renovations and other activities for more growth ofsales and earnings.

Profit attributable to owners of parent ¥ 1,420 million (+5.9% YoY)
*The forecast does not take into account the impact of the declaration of a state of emergency due to the reemergence of the COVID-19

infection. These forecasts are based on currently available information and actual results may differ substantially due to various factors.

Copyright IKK Inc. All Right Reserved.

16

FY2024 Consolidated Forecast

II. FY2024 forecast(Millions of yen)

FY2023

FY2024
YoY change

Amount% to sales

Plan% to sales

Amount%Net sales

21,990100.0

23,350

100.0

1,359

6.2

Gross profit

12,887

58.6

13,630

58.4

742

5.8

SG&A expenses

10,93249.7

11,500

49.3

567

5.2

Operating profit

1,955

8.9

2,130

9.1

174

8.9

Ordinary profit

2,005

9.1

2,145

9.2

139

7.0

Profit attributable to ownersof parent

1,340

6.1

1,420

6.1

79

5.9

Net income per share(Yen)

45.93

－

49.52

－

－

－

Copyright IKK Inc. All Right Reserved.

17

Forecast of Net Sales, Operating Profit and Ordinary Profit
Net sales, number of banquet halls(Millions of yen）

Net sales

Banquet halls(Japan)

24,000Banquet halls(Overseas)
21,99022,00020,00018,000(Number ofbanquet halls)
23,350

35

35

50

36

40
36
35
30

11,530

25
20

8,746

8,000

15

6,000
4,000
2,000
0

5

3

FY2020

FY2021

Copyright IKK Inc. All Right Reserved.

6

6

7

10
5

FY2022

Ordinary Profit

Operating Profit

FY2023

FY2024(Plan）

0（%）

Operating Profit margin

15
8.9

4,000

14,00010,000(Millions of yen）

45

16,00012,000Operating Profit, Ordinary Profit andOperating Profit margin

5,000

19,05635

II. FY2024 forecast

9.1

3,000

10
5

2,000

1,808

2,130 2,145
2,096
1,955 2,005

0

1,000
0
(610)

(1,000)(1,599)(2,000)(3,000)(4,000)(5,000)(3,524)(3,981)
FY2020

FY2021

FY2022

FY2023

FY2024（Plan）

18

Outlook of New Branch Openings, Number of Weddings,
Capital Expenditures and Depreciation
FY2023Results

FY2024
Plan

AmountNumber of branches at endof period (Japan)

20

20

ー

Wedding facility: 4 banquet halls

1

1

ー

Wedding facility: 3 banquet halls

5

5

ー

Wedding facility: 2 banquet halls

3

3

ー

Wedding facility: 1 banquet hall

6

6

ー

Restaurant: 1 banquet hall

5

5

ー

Number of branches at endof period (Overseas)

5

6

1

Wedding facility: 2 banquet halls

1

1

ー

Wedding facility: 1 banquet hall

4

5

1

Number of banquet halls

42

43

1

Number of weddings

5,515

5,665

150

Japan

5,430

5,550

120

Overseas

85

115

30
(Millions of yen)

FY2023Results
Capital expenditures
Depreciation

Copyright IKK Inc. All Right Reserved.

1,939
1,094

FY2024
Plan

501
1,010

AmountII. FY2024 forecast

Capital expenditures and depreciation
Capitalexpenditures

Depreciation(Millions of yen）

4,000
3,500
3,000
2,500
1,939

2,000
1,500
1,211
1,000

977

1,111

1,011
800

1,094

1,010
501

500
150

（1,438）(83)

0

FY2020

FY2021

FY2022

FY2023

FY2024（Plan）

19

Dividend Plan

II. FY2024 forecast

Plan to pay a dividend of ¥24 for FY2024 because of the recovery in sales and earnings

Our policy is to pay dividends that reflect operating results while retaining earnings needed forachieving the medium to long-term business plan and strengthening our operations.
Established basic policy of steady and sustained ordinary dividend growth to maintain the dividend
payout ratio of 40-50%.
Ordinary dividend

Dividend payout ratio (%)

Dividends
150

30

¥24.0

25

¥24.0

90

20

70
15

¥10.0
10

5

No dividends during
the pandemic

50

52.3

48.5

-10

0

FY2020

FY2021

30
10

21.1

FY2022

FY2023

FY2024FY2020¥0.0-

FY2021¥0.0-

FY2022

¥10.0

21.1%

FY2023

¥24.0

52.3%

FY2024(Plan)

¥24.0

48.5%

130
110

-30

Dividend
payout ratio(Plan)

Copyright IKK Inc. All Right Reserved.

20

III. Initiatives for FY2024

Copyright IKK Inc. All Right Reserved.

21

Initiatives for FY2024 (1)III. FY2024 initiatives

Renovations to increase the quality of existing locations
 Expenditures for regular maintenance as well as for brushing up design concepts s in order to reflect
shifts in market trends
 La Rinzai Chance Bel Ami (Tosu City, Saga Pref.): Major garden renovation
 Canal side La La Chance (Toyama City, Toyama Pref.): Renovation of lounge and main hall
 La La Chance Bel Ami (Morioka City, Iwate Pref.): Added poolside wood deck in the garden
Canal side La La Chance(Toyama City, Toyama Pref.)Banquet : Bruges Remodeled the lounge and main hall to provide
spaces for even more personalized services forcustomers.
 The main hall includes wood accents for warmthand a “cute” atmosphere that appeals to peopleof all ages.

Other existing locations will berenovated in accordance with the planfor these investments.
Copyright IKK Inc. All Right Reserved.

22

Initiatives for FY2024 (2)III. FY2024 initiatives

New business alliance for the wedding business outside Japan
 Business alliance established for producing weddings at two locations inIndonesia that use the well-known Plataran brand.
 Operations started in October 2023
■ Background of business allianceThis alliance was established due to the outlook for synergies
with IKK’s existing operations in Indonesia. One Plataran
brand location is in front of IKK’s Menara Mandiri wedding
hall. The Plataran locations differ significantly from current
IKK wedding facilities in Indonesia in terms of the size of thewedding hall, price range, ability to hold outdoor weddings,
and powerful and highly respected brand.

Hutan Kota
Area: 32,000m2
Capacity: 700 people

Overseas locations

Wedding bride and groom seats

Kinandari
Area: 5,151m2
Capacity: 800 people

・Menara Mandiri
・Skenoo Hall・Financial Hall
・Artotel Suites Mangkuluhur
・Plataran (Hutan Kota)
・Plataran (Kinandari)BanquetCopyright IKK Inc. All Right Reserved.

23

Initiatives for FY2024 (3)III. FY2024 initiatives

Established the Digital Marketing Promotion Department for strengthening strategic sales activities

 The department increases information gathering, analysis and utilization capabilities.
 Strategic promotions of products and services of the entire IKK Group Effective advertisements and other activities are expected to attract more customers andreinforce corporate branding.
General Meeting of Shareholders

Compliance Committee

Board of Directors

Audit and Supervisory Committee

Chairman and chief Executive Officer
Internal Auditing Department

Management Committee

Matrimonial Matchmaking
Business Department

Photography Business
Department

Purchasing Section

Food Business
Department

Purchasing
Department

Store Development
SectionOverseas Business
Development Department

New Business
Development
Department

Human Resources
SectionNursing-care Operations
Department

Human Resources
Department

Legal Section

Wedding Operations
Department

IT Systems
Department

Finance andAccounting Section

Digital Marketing
Promotion Department

Management
Department
Corporate Planning
SectionCopyright IKK Inc. All Right Reserved.

24

Reference:
Company Profile, Business Activities and Industry Overview

Copyright IKK Inc. All Right Reserved.

25

Company Profile
Company profile (as of Oct. 31,2023)
Company nameIKK Holdings Inc.

Head office722-5 Shintencho, Imari, SagaBusiness activities

Management of the Group companies

Representative

Katsushi Kaneko, Chairman and chief Executive Officer

Established

November 1, 1995

Fiscal year end

October 31

Stock listing

Prime Market of the Tokyo Stock Exchange(Securities code: 2198)

Capital

351 million yen

Reference

Sales ratio by business segments (FY2023)

Marriageagency0.1%

Group Company(Nursing-care business) I Care Inc.
(Food Business) Meitokuan Inc.
(Matrimonial matchmaking business) LALA COEUR Inc.
(Photography business) Ambihone Inc.

Number of employees

999 (consolidated)

Number of Shareholders

39,773Copyright IKK Inc. All Right Reserved.

2.7%

Food Business

1.2%
Consolidated net sales¥21,990 million(Overseas wedding business)
PT. INTERNATIONAL KANSHA KANDOU INDONESIA

Nursing-careBusiness

Photographybusiness/Matrimonial
matchmaking business1.4%

Wedding Business
95.5%

26

The History of IKKNet sales(Millions of yen)

22,000

Wedding facilities

The Geihinkan Kairakuen Bettei (Mito City, Ibaraki Pref.)
La La Chance Garden TOKYO BAY (Tokyo Koto Ward.)

Kyushu region

La La Chance Kobe (Kobe city, Hyogo Pref.)Hokuriku/Tohoku region

20,00018,00016,000Castle Garden OSAKA (Osaka City, Osaka Pref.）
La La Chance Okazaki Geihinkan(Okazaki City, Aichi Pref.)
La La Chance Hiroshima Geihinkan(Hiroshima City, Hiroshima Pref.)Harbor Terrace Sasebo Geihinkan(Sasebo City, Nagasaki Pref.)Chugoku/Shikoku region

Tokai region
Kansai region

Suite Villa Garden (Kasuya District, Fukuoka Pref
La La Chance Bel Ami (Morioka City, Iwate Pref.)Kanto region

14,000

Reference※As of Oct. 31, 2023

Cuisine Française LA CHANCE(Toyama City, Toyama Pref.)

La La Chance Bel Ami (Fukui City, Fukui Pref.)
La La Chance Geihinkan (Kochi City, Kochi Pref.)12,000La La Chance Iwaki (Iwaki City, Fukushima Pref.)Plaisir Geihinkan (Miyazaki City, Miyazaki Pref.)
La La Chance Taiyo no Oka(Kanazawa City, Ishikawa Pref.)
La La Chance Geihinkan (Oita City, Oita Pref.)8,000
La La Chance Geihinkan(Miyazaki City, Miyazaki Pref.)Canal Side La La Chance
6,000(Toyama City, Toyama Pref.)
La La Chance Geihinkan (Imari City, Saga Pref.)
La La Chance Hakata no Mori
4,000
(Fukuoka City, Fukuoka Pref.)
La La Chance Bel Ami (Tosu City,Saga Pref.)10,000

Guest house weddings using the La La Chance brand in regions other than Japan’s major metropolitan areas

2,000
0

IKK was first to offer
guest house weddings in Kyushu

1996 97 98 99 2000 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 2023

Copyright IKK Inc. All Right Reserved.

27

Our Wedding Facilities

Reference

Using an innovative wedding facility design concept for growth from the core Kyushu region to all areas of Japan

 Currently operating 20 wedding locations in 18 cities in Japan featuring a distinctive design conceptthat is in harmony with natural surroundings Overseas business consist of six wedding facilities in Jakarta, Indonesia
Wedding facilities in Japan
Tohoku area 2 locations

・La La Chance Iwaki (Iwaki City, Fukushima Pref.)・La La Chance Bel Ami (Morioka City, Iwate Pref.)Kanto area

2 location(to be opened) 1 location

・La La Chance Garden Tokyo Bay (Tokyo, Koto, Ward.)
・The GEIHINKAN KAIRAKUEN BETTEI (Mito City, Ibaraki Pref.)Tokai area

1 location

・La La Chance Okazaki Geihinkan (Okazaki City, Aichi Pref.)Kansai area

2 locations

Hokuriku area

4 locations

Kyushu area

7 locations

・Castle Garden OSAKA (Osaka City, Osaka Pref.)・La La Chance Kobe (Kobe City, Hyogo Pref.)・Canal Side La La Chance (Toyama City, Toyama Pref.)・Cuisine Française LA CHANCE (Toyama City, Toyama Pref.)・La La Chance Taiyo no Oka (Kanazawa City, Ishikawa Pref.)・La La Chance Bel Ami (Fukui City, Fukui Pref.)・La La Chance Geihinkan/Imari Geihinkan (Imari City, Saga Pref.)Chugoku/Shikoku area 2 locations
・La La Chance Bel Ami (Tosu City, Saga Pref.)・La La Chance Hiroshima Geihinkan (Hiroshima City, Hiroshima Pref.) ・La La Chance Hakata no Mori (Fukuoka City, Fukuoka Pref.)・La La Chance Geihinkan (Kochi City, Kochi Pref.)・La La Chance Geihinkan (Oita City, Oita Pref.)・La La Chance Geihinkan (Miyazaki City, Miyazaki Pref.)Overseas locations
・Plaisir Geihinkan (Miyazaki City, Miyazaki Pref.)・Harbor Terrace Sasebo Geihinkan (Sasebo City, Nagasaki Pref.)Jakarta, Indonesia 6 locations
・Menara Mandiri
・Skenoo Hall・Financial Hall
・Artotel Suites
・Plataran(Hutan Kota)
・Plataran(Kinandari)

Copyright IKK Inc. All Right Reserved.

28

IKK Group’s Management Philosophy
MissionReference

Dedicated to the smiles and happiness of the special people
in your life
- Sincerity, Trust, RelianceManagement
Philosophy- We will do our best immediately in a sincere spirit of collaboration- We will be the talented personnel regardless of its nationality, religion,
gender, age or experience and will challenge to create the wonderful
futureCode of Conduct

This code establishes guidelines for all activities of the people of IKK

Vision 2042

VisionWith the love and passion of each and every one of us,
Connecting and challenging ourselves, and become Japan's leading inspirational
company that bring smiles and happiness to our customers

Vision 2032

With the love and passion of each and every one of us, Connecting andchallenging ourselves, and become Japan's leading inspirational company thatbring smiles and happiness to our customers

Core Strategy
Strategy
Copyright IKK Inc. All Right Reserved.

Use relationships and the desire to take on new challenges toattract and serve more customers
Specific measures for achieving these visions (Medium-term management plan)29

Wedding Facilities in Harmony with Natural Surroundings (1)Reference

Unlike operators of chains of wedding halls with identical designs, IKK uses a different design concept foreach location

Couples can hold wedding receptions at elegant mansions with abundant sunlight andgreenery and large sites with an average area of about 9,000m2

Copyright IKK Inc. All Right Reserved.

30

Wedding Facilities in Harmony with Natural Surroundings (2)Reference

Our goal is creating the best wedding facilities that can succeed for 20 years by featuring expansive
buildings in harmony with nature and their surroundings along with services that incorporate thedistinctive elements of the local culture
Exclusive use of an entire mansion-style
room for a highly unusual private
atmosphere

Copyright IKK Inc. All Right Reserved.

A garden filled with greenery is the perfectplace for weddings with a homey
atmosphere

The flexibility to include events that reflect
the desires and characteristics of eachcouple31

Mainly Carefully Chosen Regional Cities
Based on a Long-term Perspective (1)Reference

The facilities best suited for each market location from a long perspective that looks ahead two decades
One banquet hall

Two banquet halls

Three banquet halls or more

Miyazaki

Kochi

Sasebo

Iwaki

Tosu

ToyamaLa La Chance Geihinkan

La La Chance Geihinkan

Harbor Terrace Sasebo Geihinkan

La La Chance Bel Ami

Canalside La La Chance(Kochi City:
319 thousand people)(Sasebo City:
240 thousand people)

La La Chance Iwaki(Miyazaki City:
399 thousand people)(Iwaki City:
310 thousand people)(Tosu City:
74 thousand people)(Toyama City:
409 thousand people)

Plaisir Geihinkan

Cuisine Française LA CHANCE

Castle Garden OSAKA

La La Chance Bel Ami(Osaka City:2,741 thousand people)

La La Chance Taiyo no Oka(Toyama City:
409 thousand people)(Fukui City:
257 thousand people)

La La Chance Geihinkan(Miyazaki City:
399 thousand people)

Hiroshima

Fukuoka (4 banquet halls)

La La Chance Geihinkan

La La Chance Bel Ami

La La Chance KOBE

La La Chance Okazaki Geihinkan

La La Chance Hakata no Mori

(Oita City:
476 thousand people)(Morioka City:
282 thousand people)

La La Chance Hiroshima
Geihinkan

Tokyo

Mito

MiyazakiOita

ToyamaMorioka

Osaka

Fukui

Kobe

(Kobe City:
1,510 thousand people)

Okazaki(Okazaki City:
384 thousand people)

Imari(Imari City:
52thousand people)(Hiroshima City:
1,184 thousand people)

Kanazawa(Kanazawa City:
447 thousand people)(Fukuoka City:
1,581 thousand people)

All locations except those in Fukuoka, Hiroshima, Osaka, Kobe andKoto-ku, Tokyo are in regional cities with populations under 500,000
La La Chance Garden TOKYO BAY

Mito Branch(Not yet decided )(Koto-ku:
532thousand people)(Mito City:
270 thousand people

Copyright IKK Inc. All Right Reserved.

The figures in parentheses show the populations of cities where IKK’s branches are locatedSource: Japan Geographic Data Center “Basic Resident Register 2023”

32

Mainly Carefully Chosen Regional Cities
Based on a Long-term Perspective (2)Reference

Targeting regional cities by using expertise (location, marketing, operations, etc.) and experience gained
from operations in small markets
Investment per location (large)

Large metro areas(Example: Tokyo)

Multiple facilities /guest house type

Mainly large
metro areas

Mainlysuburbs ofregional cities
Singlechapel/banquet
hall type

Regional cities(Example: Large cities
in Kyushu)

MarketLarge

Small/
MediumCompetition

High

Low

Operating cost
(rent, advertising, etc.)

High

Low

Greenery/nature

MinimalAbundant

Word-of-mouth

Small/medium

Big effecteffectInvestment per location (small)
Copyright IKK Inc. All Right Reserved.

33

Mainly Carefully Chosen Regional Cities
Based on a Long-term Perspective (3)Reference

Regional city markets are small but wedding receptions and parties are very large events
Average number of people attending a reception/party for all locations and individual locations*Comparison based on FY2022 results
All locations (IKK average)
La La Chance Geihinkan (Imari City)La La Chance Geihinkan (Kochi City)
Plaisir Geihinkan (Miyazaki City)La La Chance Geihinkan (Oita City)La La Chance Geihinkan (Miyazaki City)
Harbor Terrace Sasebo Geihinkan (Sasebo City)

Average number of wedding
reception/party guests (IKK average)

La La Chance Hakata no Mori (Fukuoka City)La La Chance Garden Tokyo Bay (Koto-ku)

60.6 people

La La Chance Bel Ami (Tosu City)*As of Oct. 31, 2022

Castle Garden OSAKA (Osaka City)La La Chance Kobe (Kobe City)

Average number of wedding reception/party
guests in the Tokyo area

La La Chance Hiroshima Geihinkan （Hiroshima City)La La Chance Bel Ami (Fukui City)

44.0 people

La La Chance Okazaki Geihinkan （Okazaki City)
Cuisine Française LA CHANCE (Toyama City)La La Chance Iwaki (Iwaki City)La La Chance Taiyo no Oka (Kanazawa City)
Canalside La La Chance (Toyama City)La La Chance Bel Ami (Morioka City)

20people

Copyright IKK Inc. All Right Reserved.

Source: Zexy Wedding Magazine Trend Survey 2022 in
the Tokyo area

The average is higher than in theTokyo area at all locations

44.0 people
40people60people80people

100people

34

A Brand with Deep Local Roots and Strong Ties with
Local Residents (1)Reference

Creating strong emotions produces a virtuous cycle where satisfied customers attract more customers
A local reputation for serving
outstanding foodWeddings and receptions(Grooms, brides and guests)

Wedding
reception
contracts

Attract
potential
customers

Excitement

The
word-of-mouth

Simulated wedding ceremony/reception
Participatory facility tour
Try on dresses/sample food menu items

The kitchen staff includes several
people who have won medals atinternational cooking contests

Copyright IKK Inc. All Right Reserved.

Services with warmth andsincerity

cycle

Attendevent at
IKK facility

Friends
FamilyAn extraordinary wedding/reception location full of
natural beauty for this once-in-a-lifetime event

35

A Brand with Deep Local Roots and Strong Ties with
Local Residents (2)Reference

Two of our restaurants listed in Michelin Guides with one-starred restaurant designations
Cuisine Française LA CHANCE (Toyama City, Toyama Pref.) Listed as one of 20 starred restaurants in Toyama Attractive location alongside the canal in the
Fugan Canal Kansui Park, Toyama Prefecture, with
its rich natural beauty©MICHELIN▲The MICHELIN Guide Hokuriku 2021 Special Edition*

Harbor Terrace Sasebo Geihinkan (Sasebo City, Nagasaki Pref.) Listed as the only starred restaurant in Sasebo City
 Located in the “Sasebo Gobangai” commercial
facilities complex, just one minute’s walk from
Sasebo Station©MICHELIN▲The MICHELIN Guide Fukuoka-Saga-Nagasaki 2019 Special Edition** Nippon Michelin Co., Ltd. conducts a process of gastronomic assessment based on an evaluation method conducted anonymously by Michelin investigators who have been selected
to have expertise in the hotel and restaurant industries and compiles the results in a ranking system that “expresses the deliciousness of the cuisine by the number of stars awarded.”
There are five evaluation criteria: “quality of ingredients, high degree of culinary skill, originality, price commensurate with value, and uniform and consistency in the quality of all of
the food served.” Three stars, two stars, and one star are assigned in descending order on the basis of these criteria.
Copyright IKK Inc. All Right Reserved.

36

A Brand with Deep Local Roots and Strong Ties with
Local Residents (3)Reference

Many winning entries from IKK locations in wedding photo contests in JapanCOSMOS AWARDS Pre Wedding Bride Alone 1st Place

Title: Hinomaru

Comments from award
winner: This photo,which strictly adheresto the basics ofcomposition, combines
horizontal and verticallines and clearly shows
the pattern of the
shiromuku, a traditional
white kimono, with a
red umbrella against aplain white background.
The proportions areintentionally similar to
those of the Japaneseflag. I will do my best tocontinue to bring goodnews.

Award of Excellence, 23rd Zexy Wedding Photo Contest
Comments from award
winner: The groom’s
grandmother sheds
tears of emotion as her
grandson passes by, He
responds by gently
stroking her head. I amvery happy to be able topreserve the happinessof the wedding
ceremony, a place
where family members
and friends can also be
happy.

Title: Thank you grandma
Copyright IKK Inc. All Right Reserved.

Prize-winning photos
2020
・WPPI 2020 Annual, selected for award judging (3 works)
・AsiaWPA2019 Annual Grand award(2people), other prizes (1people)
・20th Zexy Wedding Photo Contest selected for award judging (3 works)First Prize, other prizes (2 people)

2021

・Japan Wedding Photo Grand Prix, ,8th place, 10th place
・AsiaWPA2020 Annual Silver award(4people), Bronze award(5people)
・21st Zexy Wedding Photo Contest, award of excellence, other prizes (2 people)
・WPPI2021 THE ANNUAL selected for award judging (3 people)

2022
・22nd Zexy Wedding Photo Contest, First Prize, other prizes (2 people)
・Japan Wedding Photo Grand Prix, 1st place, 3,4,8th place.
・AsiaWPA2020 Annual, prizes (15 people)
・WPE awards 2022, selected for award judging (2 works)
・COSMOS AWARDS 2022 Annual First Place(1 people), other prizes(9 people)
・NAPA 2022 First Place(1 people), other prizes (7 people)

2023
・WPE Annual final Silver Award (1 people), selected for award judging(1 people)
・AsiaWPA2020 Annual , prizes (4 people)
・23rd Zexy Wedding Photo Contest, award of excellence, other prizes (3 people)
・WPE International photography awards 1st half 2023Silver badge (3 people),
1st place (1 people), 3rd place (1 people)
・COSMOS AWARDS International Competition 2023 trimester 1
1st Place(2 people),3rd place(1 people),Silver Award(6 people)
・Asia WPA2023 1st half Silver Award(12 people)
・COSMOS AWARDS International Competition 2023 trimester 2
2nd Place(1 people),3rd place(1 people),Silver Award(7 people)
・WPE international photography awards 2nd final Silver badge(3 people),、Bronze badge(2 people)

37

A Brand with Deep Local Roots and Strong Ties with
Local Residents (4)Reference

Wedding planning skills backed by training programs based on a sound concept
Second Prize at Good Wedding Awards 2021
Comments from award
winner: “Only today” is thetheme that defines ourapproach to planning every
wedding, a precious timethat happens only once.
Weddings are designed toconvey to all participants
emotions and feelings thatare possible only on thisspecial day. Every event has
decorations and activities
for this purpose along withan atmosphere forcommunicating words ofappreciation that create
unforgettable memories.

Wedding theme: One piece of a journey – A day of love filled with light

Soul Prize at Good Wedding Awards 2023
Comments from award
winner: The bride wanted
to wear her wedding dressfor her father, who had anincurable illness, but thefather did not wantanything special done forhim. To respect both oftheir wishes, a mockwedding ceremony with aphotographer was held asa surprise for the father.

Wedding planner awards
2011
・Good Wedding Awards 2011, Soul Prize
・Good Wedding Awards 2011, selected as one of 8 finalists

2013

・2nd Home Town Wedding Contest, honorable mention

2014
・Good Wedding Awards 2014, Second Prize
・Good Wedding Awards 2014, Creative Award

2015
・Good Wedding Awards 2015, Creative Award

2016
・5th Home Town Wedding Contest, Bridal Industry Newspaper Prize2017
・6th Home Town Wedding Contest, Bridal Industry Newspaper Prize

2018
・7th Home Town Wedding Contest, Bridal Industry Newspaper Prize

2019
・Good Wedding Awards 2019, Soul Prize

2021
・Good Wedding Awards 2021, Second Prize

2023
・Good Wedding Awards 2023, Soul Prize
Wedding theme: Life-size -simply as they are
Copyright IKK Inc. All Right Reserved.

38

Measures to Firmly Establish the IKK Corporate Philosophy (1)Reference

Benefits of recruiting outstanding human resources and providing extensive training IKK ranks high in Kyushu/Okinawa every year in the regional job-hunting popularity survey of
Mynavi/Nikkei
 First place for the six consecutive year in the Job-hunting Popularity for Individual Industries.
 53th place in the New Graduate Company Popularity Ranking for humanities college graduates.
■ Job-hunting Popularity Based on Head Office Location Top 5
for Kyushu and Okinawa *Survey of 3,367 people
Rank

Company

Votes

Rank in 2023

1
2
3
4
5

IKK Holdings Inc.
Fukuoka Financial GroupTHE NISHI-NIPPON CITY BANK, LTD.
Cosmos Pharmaceutical Corporation
Nishi-Nippon Railroad Co., Ltd.

244
144
134
128
121

3
2
1
5
6

■ Job-hunting Popularity for Individual Industries Top 3 for the Wedding,
Funeral and Other Services Sector
Rank

1
2
3

Company

IKK Holdings Inc.
DEARS BRAIN
Treat Co., Ltd.

Votes

244
51
41

■The survey covers third-year university students and first-year graduate school students in Japanplanning to graduate in March 2024. ■The survey took place from December 1, 2022 to March 26,
2023.
■The survey was conducted by using the Mynavi 2023 job hunting site, the Mynavi job hunting
magazine, and special events sponsored by Mynavi to ask individuals to participate in the survey
by completing a questionnaire on the internet. *Individuals entered their five favorite companies.
*Two reasons were selected as the reasons for choosing each company. ■There were 41,185
responses.

Copyright IKK Inc. All Right Reserved.

 Five-year New Graduate Job-hunting Popularity Ranking of IKK
Based on Head Office Location■ 業種別就職企業人気ランキング(Rank)
0位 ［冠婚葬祭］：上位10位
11位
22位
33位
44位
55位
Graduate in Graduate in Graduate in Graduate in Graduate in Graduate inMar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024

 Five-year New Graduate Job-hunting Popularity Ranking by
Industry(Rank)
0位
1位
1
2位
2
3位
3
4位
4
5位
5

Graduate in Graduate in Graduate in Graduate in Graduate in Graduate inMar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024

*Based on survey for popularity of companies for job-hunting among new college graduates

39

Measures to Firmly Establish the IKK Corporate Philosophy (2)Reference

Benefits of recruiting outstanding human resources and providing extensive training IKK placed high in rankings based on the surveys of OpenWork, a company that operates
a job market platform for finding jobs and changing jobs.
Service Sector
Employee Satisfaction Ranking(Employee Satisfaction leads to Customer Satisfaction)
Rank

1

Company

Total scoresCompanies with an Environment for the Advancement of Women
Rank

Company

Scores1

The P&G Japan Limited

26.2952

Google LLC

26.1903

Recruit Management Solutions Co.,Ltd.

25.5944Goldman Sachs

25.436

5

Suntory Holdings Limited.

25.4035

9.90
Plan Do See Inc. 2012年1月20日 東証上場セレモニーの様子
Recruit Zexy Navi Co., Ltd.
9.57
Oriental Land Co.,Ltd.
9.50
IKK Inc.
9.43
Starbucks Coffee Japan, Ltd.
9.39

6

MITSUKOSHI U.S.A., INC.

9.10

6

Salesforce.com Co., Ltd.

25.222

7

ANNIVERSAIRE Inc.

9.06

7

IKK Inc.

25.215

8

DOCOMO CS, Inc.

8.93

8

COSMOS INITIA Co.,Ltd.

25.0269

MARUI CO., LTD.

8.89

J.P. Morgan

25.01410

Bell-Park Co.,Ltd.

9

8.86

10

The Prudential Life Insurance Co., Ltd.

24.9402
3

4■To prepare the above ranking, employees who were at their respective companies for at least
one year were polled. Employees were asked to write a minimum 500-word essay on the subjectof their choice and answer questions on eight evaluation parameters.
■Only companies that produced more than 25 responses were included in evaluation reports ofservice sector companies. (Data was collected between July 2007 and May 2018.)

 This ranking uses only data for the 1,281 companies where at least 30 female employees submitted
evaluation reports to OpenWork from the total of 185,201 reports submitted during the period covered(July 2007 to July 2021).
 Scores use five levels of scores for five key items for determining career advancement: (1) Proper
performance assessments; (2) Environment for advancement of people in their 20s; (3) Long-term
development of skills; (4) Satisfaction with benefits; (5) Employee morale. Scores also use mechanicallearning analysis of subjective answers to questions about the ease for women to do their jobs and*Ranking scores, the number of comments and other numbers are as of the time the information was collected.
motivation/growth.
As a result, these numbers may not match the numbers on the company pages of OpenWork

Copyright IKK Inc. All Right Reserved.

40

Measures to Firmly Establish the IKK Corporate Philosophy (3)Reference

Main reasons that IKK was chosen as a “great place to work”
 IKK has placed in the 2019 Best Workplaces Lists by the Great Place to Work® Institute Japan for the
past seven consecutive years
 Input from annual employee questionnaires is used to maintain workplaces that are pleasant andrewarding

Trust

Pride

Solidarity

 Employees are entrusted with responsible workat this company

90% (avg. for all companies*

 Executives and managers clearly define a vision andhow to accomplish that vision

85% (avg. for all companies*

 I am proud of the business operations of the company

87% (avg. for all companies*

 I believe the company is contributing to communities
and society

88% (avg. for all companies* The company holds celebrations whenever there is a
special occasion

88% (avg. for all companies* The company creates a mood of solidarity andteamwork

77% (avg. for all companies*

is 86%)
is 78%)

is 80%)
is 76%)

is 84%)
is 72%)*Average for companies in the 2018 Best Workplaces Lists

Copyright IKK Inc. All Right Reserved.

41

Measures to Firmly Establish the IKK Corporate Philosophy (4)Reference

Dedicated to maintaining an environment for fully using the skills of women A commitment to a workplace environment where women can realize their full potential
 Demonstrating progress with measures for women, IKK was the first company in the wedding industry
to receive a Development Bank of Japan loan under this bank’s DBJ Employees’ Health Management
Rated Loan Program•Promotions are based on performance, in accordance withconsistent standards, to recognize the best people; 25.0% of
officers and 31.8% of supervisors are women•Employees are encouraged to use paid vacation time and can use
up to 16 days consecutively•Mental health support program; periodic distribution ofquestionnaires with unrestricted responses to hear the thoughts
and suggestions of employees• Regular health check-ups as well as blood tests and assistance forgynecology examinations; started providing group long-term
disability insurance in November 2022 as part of employee benefits
The DBJ Employees’ Health Management Rated Loan Program
The Development Bank of Japan uses its own evaluation system to identify companies with outstanding measures for keeping their employees healthy. Theseevaluations are used for the world’s first financing menu that incorporates employee health management ratings.

Copyright IKK Inc. All Right Reserved.

42

Measures to Firmly Establish the IKK Corporate Philosophy (5)Reference

Japan’s first hotel/wedding company to earn ISO22000:2005 certification for food safety management
Food safety is one of our highest priorities and we are always improving safety and hygiene measures We have established a Sanitation Standard Operating Procedure (SSOP) Manual that complies with Food Hygiene
Management Standards (Prerequisite Program) and follow these procedures to fulfill our corporate responsibility of
preventing food problems and rigorously supervising all activities involving foodEstablished the Food Safety Management System that covers food preparation and services
 Suppliers of food must submit product specifications to ensure the safety of all ingredients and finished products
 Food preparation processes are thoroughly supervised and constantly recorded to ensure the safety of all foodserved to guests
 All personnel must strictly comply with the Food Safety Management System standards
 The three La La Chance Hakata no Mori locations have ISO22000:2005 certification (August 2009)*When this certification was renewed in June 2021, certification was expanded to four La La Chance Hakata locations: Villa Foret, Chez laForet, Grand Vent-Vert and the Hakata no Mori Geihinkan

 All other food businesses at IKK also comply with the standards of the Food Safety Management System

FSMS:548713 / ISO22000:2018

ISSO22000 is an international standard for food safety management systems. This standard combines HACCP food hygiene management methods with thequality management methods of the ISO9001 standard for quality management systems.
Copyright IKK Inc. All Right Reserved.

43

Measures to Firmly Establish the IKK Corporate Philosophy (6)Reference

Many of our customers give high ratings to the wedding organizer who served them
Rank of customer service in reasonsfor selecting an IKK location2

Zexy Wedding Magazine Trend Survey 2020–
Key points when selecting a wedding reception/party location
Food
Access to tranportation
Atmosphere of reception room
Located in desired place/area
Atmosphere of wedding room (chapel,
shrine, etc.)

No.

6

Quality of all staff at the location

Atmosphere of the lobby and exterior
In the Zexy survey,
quality of all staff at thelocation was the six
most important factor
when selecting awedding
reception/party location.

Available on desired date
Quality of the wedding organizer
Reasonable cost

0%

20%

40%

60%

Source: Zexy Wedding Magazine Trend Survey 2022 – Tokyo Area, listing in order of the key points for selecting a location
for a wedding reception/party.
Copyright IKK Inc. All Right Reserved.

Imari BranchTosu Branch
Fukuoka Branch
Toyama Branch
Miyazaki Branch
Oita Branch
Kanazawa Branch
Miyazaki Branch #2
Iwaki Branch
Kochi Branch
Fukui Branch
Morioka Branch
Toyama Restaurant Branch
Sasebo Branch
Hiroshima Branch
Okazaki Branch
Osaka Branch
Kobe BranchTokyo Branch
Mito Branch

Rank
1
1
2
1
1
2
2
1
1
1
1
1
2
3
1
1
2
1
3
1

Source: IKK study (Oct. 31, 2022)

 Thanks to extensive training programs, thededication of our people to excellence incustomer service is the most important reason
that people select an IKK wedding facility
 Customer service is the main reason thatpeople select IKK at more than half of all
locations44

Long-term Strategy:
Sustained Growth of Wedding Business in Japan (1)Reference

Extremely thorough site selection process to create branches that can succeed for 20 years– Building a base for stable, long-term operation of branches
StudiesPotential sites are cities with a population of atleast 300,000 (85 cities)

 Prime locations in regional cities

Build wedding facilities in locations with natural
beautyIKK’s small-market sales expertise is a key strength
Selection

Select key 48 cities based on competition andwedding reception activity

SurveyExamine prospective sites (transportation access,natural surroundings, etc.), market trends,
competition and other items

Examination

Determine the suitability of a prospective newlocation by looking at its concept, the investments
needed and other factors affecting the outlook for a
return on the investment

Oita Branch

Kanazawa Branch Use sales expertise acquired in small markets for
opening new locations in major metro areas, too
Also establish a scheme that leverages IKK’s strengths
for opening locations in major metropolitan areas
Also opening locations in Japan’s three big metro areas

Approval

Final decision
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Osaka BranchTokyo Branch
45

Long-term Strategy:
Sustained Growth of Wedding Business in Japan (2)Reference

Much potential for new locations in places with little competition, both outside Japan’s three big metro
areas as well as within these areas
Outside Japan’s three big metro areas
Within Japan’s three big metro areas

Locations of Japan’s major wedding facility operators
75%

IKK
Company
A

25%

35%

65%

Company
B

22%

78%

Company
C

22%

78%

CompanyD

5%95%

IKK wedding facility locations

Primary targets: 48 cities
Potential sites
are 85 cities
with apopulation of
300,000+

Currently operating in 6 of
the 48 primary target cities
No presence in 42 ofthese cities

Plan on opening one to two locations
every year, using the significant
potential for expanding the wedding
network for steady medium to longterm growth
Source: Prepared by IKK based on the data disclosed by each company

Copyright IKK Inc. All Right Reserved.

46

Long-term Strategy:
Expand Overseas Business to Many Locations

Reference

The Indonesia wedding business is the first step of the overseas growth strategy
 Use wedding business expertise in Japan for growth in other countries
 Weddings and other services that reflect the needs and customs ofcustomers in other countries
 Constantly conducting market surveys to identify attractive opportunities
Company namePT INTERNATIONAL KANSHA KANDOU INDONESIA

Location
CapitalJakarta, Indonesia
50 billion rupiah▲ Colorful floral decorations

Copyright IKK Inc. All Right Reserved.

Establishment
Start of operations▲ A traditional dance by the bride

January 2017
February 2017

▲ A party with a buffet

47

Long-term Strategy: Add the wedding photo business

ReferenceStarting a wedding photo business featuring award-winning photographers Photographers who have won numerous awards in Japan and othercountries will create photographs preserving moments and images
for families to cherish for many years to come.
 This business may also target the demand for commemorativeand other types of photographs.
Company profile

The Wedding Photo Market

No planPhotos taken

25.2%

Name

Photo wedding/preliminary photo
use

×

74.8%

504,930*1

2022 marriages

74.8%

Location

Kasuyagun Fukuoka＝

Pct. of couples using photoweddings/preliminary photos

Established

November 2021

Couples using
this service

377,687

Capital25 million yen

Avg. cost of photowedding¥274,624*2

Planning to(scheduled)

17.6%

10.1%
*Source: Photo wedding survey 2023 (Photorait)
Did you use a photo wedding/preliminary photo service?
Single reply survey with 3,888 responses. Participants were
couples between the ages of 18 and 49 who were married
between April 2022 and March 2023.

Copyright IKK Inc. All Right Reserved.

×

47.1%

Planning to (noapplication yet)Market size is ¥103.7billion*1 Source: 2022Vital Statistics, Ministry of Health, Labour and Welfare*2 Source: Photo wedding survey 2023 (Photorait)
How much did your photo wedding/preliminary photo cost (or is planned
to cost)?
Single reply survey with 1, responses. Participants were couples in thephoto wedding/preliminary photo survey on the left who said they used
this service.

Ambihone Inc.

 Operates a studio in Osaka at the endof October 2022 and opened a studioin Nagoya in March 2023.
 Plans to open one or two studios every
year primarily in cities with apopulation of at least 500,000.

48

Wedding Market Trends (1)Reference

Weddings and receptions in Japan continue to decline along with the numbers of children and people in
the prime age segments for marriage
Number of marriages in Japan(Thousands)
1,200(Millions of people)
25

Approx. 1,100 thousand (1972)

Population of prime age segments
for marriage and forecast
Age 35-39
Age 30-34

Baby boomers

1,000

Age 25-29
Approx. 500 thousand (2022)

Age 20-24

20
18.2

2.2 2.4 2.5Children of
baby boomers

800

15

600
10
400

Declining birthrates
Unmarrying/late-marrying

200

0

3.9 3.9 3.8

17.6

2.6 2.7 3.0
3.7 3.6 3.6

5.4 5.3 5.1 5.0

5.0 5.0

3.0 2.9
3.4 3.3

1970

1980

1990

2000

Source: Ministry of Health, Labour and Welfare, "Vital Statistics 22”(Vital Statistics, Final Figures)
Copyright IKK Inc. All Right Reserved.

2010

2020

2.3

3.2 3.1 3.1 2.8

14.4

2.0
2.6

1.9
2.7

4.3 4.0

2.0
2.5

12.5

1.8
2.4

3.8 3.6

501960

2.8 2.7 2.6

4.9 4.8 4.6 4.5 4.5 4.2

6.7 6.7 6.6 6.4 6.3 6.0 5.8 5.7

1950

16.0

2005

2010

5.6 5.6 5.6 5.7 5.3 5.0 4.8
2015

2025

4.5

2040

Source: National Institute of Population and Social Security Research, "Household Projections
for Japan" (2018) Population by sex, five-year age group, and marital status

49

Wedding Market Trends (2)Reference

Annual wedding market sales are forecast to exceed ¥1 trillion in 2022 and afterward despite
Japan’s declining population
Annual sales in Japan’s wedding reception/party
market and forecast(Billions of yen)
25,0002,500

 Sales fell in 2020 because of the pandemic but
are expected to return to approx. ¥1 trillion in
2022 and increase in the following years.

20,0002,000

1,500
15,00010,000
1,000

5,000
500
Wedding market (LHS)

0
2017

2018

2019

2020

2021

2022

(Estimate)2023(Forecast)

2024(Forecast)(Year)

Sources: Wedding Industry 2022, Yano Research Institute Note: Figures for forecasts are as of March 2023
Copyright IKK Inc. All Right Reserved.

50

Wedding Market Trends (3)Reference

The guest house market share is rising as more couples in Japan want original weddings/receptions not
restricted by traditions and formalities
Wedding reception market
composition for different styles(%)

Others (restaurants, etc.)
Hotels
Wedding halls, guesthouse-style weddings

100%
90%

16.3 16.4 15.8 15.8 14.5 16.9 15.1 14.9 15.2 13.8 13.1 13.2
18.7
18.8
19.3
19.8
20.8
21.5
21.7 22.0

80%
70%
60%

38.0 34.6
41.3 38.8

32.9 32.7 32.1 31.2

20.0
21.1 22.0 22.4 22.6
23.5
26.1
23.1
27.0 28.0 27.9 26.4

50%
40%
30%
20%

47.8 47.5 49.1 50.1
43.9
41.2
37.0 39.2

63.9 62.8 63.8 64.3 66.8
61.4
59.8
59.4
56.7 55.6 56.3 57.8

10%0%2003 2004 2005 2006 2007 2008 2009 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 （Year）
Source: Zexy Wedding Magazine Trend Survey 2023 Nationwide(Estimates), facilities that host wedding receptions/parties

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51

Wedding Market Trends (4)Reference

Japan’s wedding market is still highly fragmented, leaving significant potential for IKK to capture market share

Market share of the five listed wedding companies (based on number of weddings/receptions)

1.4% 1) IKK
2.9% 2) Company A
2.9% 3) Company B
1.6% 4) Company C
Number of weddings/receptions:
About 380,000

Combinedmarket share of
the fivecompanies is
9.6%

0.8% 5) Company D

IKK’s market shareis about 1.4%

Source: Prepared by IKK based on the data disclosed by each company

Copyright IKK Inc. All Right Reserved.

52

Wedding Market Trends (5)Average age of first marriage and money
spent per wedding reception guest(Age)

Average age of first mariage (men)Average age of first mariage (women)

28.8

29.1

(Thousands of yen)

120
110

27.0

27.4

29.6

27.8

30.0 30.2

28.2

28.5

30.5

28.8

30.8

31.2

31.1 31.1

32
31.0 31.1

29.6 29.5 29.7

29.2 29.4 29.4

30
29
28

108
27

100

94

90
80
68

70
60
48

50
40

31

39

50

54

58

57

74

26

Couples continue to spend more on weddings
despite deflation in Japan
Primary causes
1. Couples want a once-in-a-lifetime event that people willremember for a long time
2. As the age of first marriages rises, more couples want
better food and entertainment for guests and activities
that incorporate each couple’s personal preferences
3. More young people who do not care about luxury in theireveryday lives want to spend money to make a wedding amemorable experience

76

61

41

30
20

Reference

Consistent growth in the amount spent per
wedding guest(Increased about 90% between 2000 and 2020)

000102030405060708091011121314151617181920212223（Year）

Source: Zexy Wedding Magazine Trend Survey 2023 – Tokyo Area, total per-guest cost for wedding ceremony and reception/party, Ministry of Health, Labour and Welfare, "Vital Statistics 2022"
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53

Precautions about this presentation
This presentation includes forecasts and other forward-looking statements about the performance, strategies, businessplans and other subjects concerning IKK HD.

These forward-looking statements, which are not historical facts, reflect the outlook of IKK HD based on informationthat was available when this announcement was made.



Forward-looking statements incorporate uncertainties about the economy, competition from other companies andmany other potential sources of risk.
Consequently, actual performance, business activities and/or the financial position may differ significantly from theforward-looking statements in this presentation due to upcoming changes in the economy, competition in theindustry, market demand, other economic, social and political events, and many other factors.

IR Contact:Tsutsuki
Management Dpt. ( info-ir@ikk-grp.jp )URL https://www.ikk-grp.jp/

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54