〔Delayed〕The original disclosure in Japanese was released on February 14, 2013 at 15:00 (GMT+9)
February 14, 2013

Best Bridal Inc.
Consolidated Earnings Report for the Fiscal Year ended December 31, 2012
(Japanese GAAP)
Stock listing: Tokyo Stock Exchange (First Section)
Securities code: 2418
URL: http://www.bestbridal.co.jp/english/
Representative: Masayuki Tsukada, President and CEO
Information contact: Keiji Ishihara, Director
Tel: +81-3-5464-0081
Scheduled dates:
Annual general meeting of shareholders:March 28, 2013
Filing of statutory year-end financial report:
March 28, 2013
Dividend payout:
March 29, 2013
Supplementary materials to year-end financial results available: Yes
Year-end earnings presentation held: Yes (targeted at institutional investors and analysts)(Amounts rounded down to the nearest million yen)

1. Consolidated Performance for the Fiscal Year ended December 31, 2012
(January 1, 2012 – December 31, 2012)(1) Consolidated Operating Results
Net sales
million yen(Percentages indicate year-on-year changes)
Operating income
million yen%%

Ordinary income
million yen%

Year ended
44,494
6.6
6,519
1.9
6,610
December 31, 2012
Year ended
41,741
8.6
6,395(11.4)
6,222
December 31, 2011
Note: Comprehensive income: Year ended December 31, 2012: 3,479 million yen (31.1 %)Year ended December 31, 2011: 2,654 million yen (-27.6%)

Net income per shareyen

Diluted net income
per share
yen

6.2

3,270

22.5

(10.4)

2,670(29.2)

Ordinary income
to total assets%

Operating income
to net sales
%

16.9

13.8

14.7

15.9

14.1

15.3

Return on equity%

Year ended
13,358.47
December 31, 2012
Year ended
10,909.27
December 31, 2011
Reference: Investment gains/losses on equity-method:Year ended December 31, 2012: 3 million yen
Year ended December 31, 2011: 36 million yen

Net income
million yen%(2) Consolidated Financial Position

December 31, 2012

Total assets
million yen
48,381

20,81547,382
17,825
December 31, 2011
Reference: Total equity: December 31, 2012: 20,815 million yen
December 31, 2011: 17,825 million yen
Total equity=Shareholders’ equity plus total accumulated other comprehensive income.

1

43.0

Net assets per shareyen
85,029.46

37.6

72,817.26

Equity ratio%

Net assets
million yen

(3) Consolidated Cash Flows
Cash flows fromoperating activities
million yen
Year ended
December 31, 2012
Year ended
December 31, 2011

Cash flows from investing
activities
million yen

Cash and cash
equivalents at end of
periodmillion yen

Cash flows fromfinancing activities
million yen

5,223(2,409)(2,198)

11,205

5,190(3,488)388

10,532

2. Dividends
Dividend per share

Year ended
December 31, 2011
Year ended
December 31, 2012
Year ending
December 31, 2013
(Forecast)

Dividend
payout ratio%

Rate of total
dividend to
net assets%

End-Q1yen

End-Q2yen

End-Q3yen

Year-endyen

Annual total
yen

Total
dividends
million yen-

1,000.00-

1,000.00

2,000.00

489

18.3

2.9

-

1,000.00-

1,000.00

2,000.00

489

15.0

2.5

-

1,000.00-

1,000.00

2,000.00

11.4

3. Earnings Forecast for the Fiscal Year ending December 31, 2013
(January 1, 2013 – December 31, 2013)(Percentages indicate year-on-year changes)
Net income perSix months ending
June 30, 2013
Year ending
December 31, 2013

share
yen

Net sales
million yen%

Operating income
million yen%

Ordinary income
million yen%

Net income
million yen%

22,600

10.9

2,700

22.6

2,650

20.2

1,450

45.0

5,923.20

48,200

8.3

7,400

13.5

7,300

10.4

4,300

31.5

17,565.36*Notes(1) Changes affecting the consolidation status of significant subsidiaries during the period: None
(2) Changes in accounting policy, changes in accounting estimates, and retrospective
restatement
1) Changes in accordance with amendments to accounting standards, etc.: None
2) Changes other than noted in 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None2(3) Shares issued (common stock)
December 31, 2012
1) Number of shares issued at end of period(including treasury stock)2) Number of shares held in treasury at end of
period3) Average number of shares outstanding during
the period

December 31, 2011

244,800

244,800--

Year ended
December 31, 2012

Year ended
December 31, 2011

244,800

244,800* Audit Status
As of this report publication, an audit of the consolidated financial statements in accordance with Japan’s
Financial Instruments and Exchange Act is underway.
*Appropriate Use of Earnings Forecast and Other Important Information(Cautionary note on forward-looking statements)
The above forecasts are based on information available as of this report’s publication. Best Bridal
makes no assurances as to the actual results, which may differ from forecasts due to changes inthe business environment. For the assumptions underlying the forecasts herein and other noticeon the use of earnings forecasts, please refer to (1) Operating Results, in 1. Review ofConsolidated Financial Results and Financial Condition on page 5 in the accompanying material.
(Presentation handout materials)
The Company has scheduled an earnings presentation targeted at institutional investors andanalysts on February 14, 2013.
The presentation handout materials will be posted on the Company's website immediately after
the event.

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Accompanying Material – Contents
1. Review of Consolidated Financial Results and Financial Condition(1) Operating Results(2) Financial Condition(3) Basic Policy on Profit Distribution, Dividends for Fiscal 2012, and Dividend
Forecast for Fiscal 2013
(4) Business and Other Risks
2. Management Policy(1) Basic Management Policy(2) Management Goals and Indicators(3) Medium-to Long-term Management Strategy(4) Issues to Address
3. Consolidated Financial Statements(1) Consolidated Balance Sheets(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
Consolidated Statements of Comprehensive Income(3) Consolidated Statements of Changes in Net Assets(4) Consolidated Statements of Cash flows(5) Note on the Going-concern Assumption(6) Basis for Preparation of Consolidated Financial Statements(7) Additional Information(8) Notes to the financial statements(Segment and Other Information)(Per Share Information)(Significant Subsequent Events)
4. Other Information(1) Changes in Officers(2) Weddings Held, Orders Received, and Sales Volume

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1. Review of Consolidated Financial Results(1) Operating Results(1) Results for Fiscal 2012
In the fiscal year under review (January 1, 2012 – December 31, 2012), the economic
outlook in Japan remained shrouded in uncertainty. Although signs of recovery
emerged on the strength of reconstruction-related demand following stagnant
conditions stemming from the Great East Japan Earthquake, the global economy
languished due to the European debt crisis and a slowdown in the growth of emerging
economies.
Regarding the bridal market in which the Best Bridal Group operates, the number of
weddings in Japan in 2012 was estimated at 669,000 (compared with 661,895 in 2011;
both figures from the Ministry of Health, Labour and Welfare). Although the declining
birthrate is gradually having a discernable impact, the size of Japan’s wedding market
remains generally firm due to the moderate rise in wedding expenditures.
Amid this environment, the Best Bridal Group endeavored to increase sales andprofitability by continually creating new value in the guest house and wedding businessthrough high-quality, appealing outlets and value-added services which enable theGroup to accurately respond to the individualization and diversification of customer
needs.
As a result of the above factors, the Group posted consolidated net sales of ¥44,494
million in the fiscal year ended December 31, 2012, an increase of 6.6% over theprevious fiscal year, operating income of ¥6,519 million, a year-on-year increase of
1.9%, ordinary income of ¥6,610 million, a year-on-year increase of 6.2%, and net
income of ¥3,270 million, a year-on-year increase of 22.5%.
The following are results by business segment.
a. Domestic operations
The addition of Omiya-Rikyu and the consolidation of Hospitality Network Corporationin the previous fiscal year contributed to higher sales in the domestic business. On an
existing-outlet basis, sales rose owing to an increase in both the number of weddings
and orders.
As a result, net sales in the domestic business for the year ended December 31,
2012 totaled ¥41,633 million, an increase of 6.8% over the previous fiscal year, and thesegment’s operating income totaled ¥7,653 million, a year-on-year increase of 4.6%.
b. Overseas operations
The number of weddings and orders increased over the previous year as the overallmarket showed a moderate recovery and the Group strengthened its sales foundation.
As a result, overseas business net sales totaled ¥2,861 million, an increase of 3.9%
over the previous fiscal year, and operating income totaled ¥218 million, a year-on-yearincrease of 45.7%.
(2) Earnings Forecast for Fiscal Year Ending December 31, 2013
Regarding the economic environment in which the Best Bridal Group operates, theeconomic outlook remains uncertain despite the expected beneficial impact of
economic stimulus measures in various countries and a moderate improvement incorporate earnings.
The Best Bridal Group will actively develop competitive products and strive tocontinually create new value. The Group will also aim to strengthen its
cost-competitiveness and enhance profitability through efficient outlet development andthe cultivation of its human resources.
The order backlog at the end of the fiscal year under review (December 31, 2012)
was 7,618, an increase of 10.2% over the previous fiscal year. For the fiscal year5

ending December 31, 2013, the Group forecasts consolidated net sales of ¥48,200
million, operating income of ¥7,400 million, ordinary income of ¥7,300 million, and net
income of ¥4,300.
(2) Financial Condition(1) Assets, liabilities, and net assets
Assets at the end of the fiscal year totaled ¥48,381 million, an increase of ¥999 million
compared with the end of the previous fiscal year due mainly to increases of ¥673 million
in cash and cash equivalents and ¥338 million in investment securities.
Liabilities at the end of the fiscal year totaled ¥27,566 million, a decrease of ¥1,990
million from the end of the previous fiscal year. This was mainly attributable to a decreaseof ¥1,675 million in long-term debt and bonds.
Net assets at the end of the fiscal year totaled ¥20,815 million, an increase of ¥2,989
million compared with the end of the previous fiscal year. The increase was due mainly tothe booking of ¥3,270 million in net income, which outweighed ¥489 million in dividends
paid from retained earnings.
(2) Cash flow
Cash and cash equivalents (“cash”) at the end of the fiscal year increased by ¥673
million from the end of the previous fiscal year to ¥11,205 million. Cash flows and factors
behind changes in the cash flows are explained below.
(Operating cash flow)
Cash generated from operating activities during the fiscal year totaled ¥5,223 million, an
increase of 0.6% from the previous fiscal year. Among the main factors were ¥6,324
million in income before income taxes and ¥2,521 million in depreciation expenses, thesum of which was partially offset by ¥3,302 million in income taxes paid.
(Investing cash flow)
Cash used in investing activities totaled ¥2,409 million, a decrease of 30.9% from thesame period a year ago. This was mainly the result of outflows of ¥2,172 million for thepurchase of tangible assets, ¥416 million for the purchase of investment securities, and¥221 million in lease and guarantee deposits, which outweighed an inflow of ¥332 million
in proceeds from the sale of investment securities.
(Financing cash flow)
Cash used in financing activities in the fiscal year totaled ¥2,198 million, compared with
¥388 million in cash provided in the previous fiscal year. This was mainly attributable to a
net decrease of ¥1,709 million in interest-bearing debt (short-term loans, long-termloans, bonds, leases) and ¥489 million for the payment of dividends.
The following are changes in cash flow indices for consolidated results.
FY2009FY2010FY2011FY2012Equity ratio (%)

33.4

38.7

37.6

43.0

Equity ratio based on market value (%)

58.6

46.1

36.1

39.9

Cash flow to interest-bearing debt (years)

2.7

2.5

3.5

3.2

Interest coverage ratio (times)

20.7

19.6

14.9

16.7

(Notes)Equity ratio: Equity/Total assets
Equity ratio based on market value: Market valuation/Total assets
Cash flow to interest-bearing debt: Interest-bearing debt/Operating cash flow
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Interest coverage ratio: Operating cash flow/Interest expenses
1. All indicators are calculated based on consolidated figures.
2. The figure for operating cash flow is taken from the consolidated statements of cash
flows. Interest-bearing debt includes all liabilities recorded on the consolidated balance
sheets on which interest is paid. The figure for interest expenses is taken from theconsolidated statements of cash flows.
(3) Basic Policy on Profit Distribution, Dividends for Fiscal 2012, and Dividend
Forecast for Fiscal 2013
Best Bridal (“the Company”) considers the return of profits to shareholders to be an
important management issue. The Company uses profits to strengthen the
management base, and returns profits to shareholders in a flexible manner based on
the annual operating results after making a comprehensive analysis of the financial
condition and profit levels, and ensuring ample internal reserves.
With regard to dividends for fiscal 2012, the Company has decided to make a
year-end payment of ¥1,000 per share. The Company made an interim payment of¥1,000 per share in August 2012, and therefore the annual dividend is ¥2,000 per
share.
The Company plans to make an annual dividend payment of ¥2,000 a share(including an interim payment of ¥1,000 a share) for the year ending December 31,
2013.
(4) Business and Other Risks
The following is information regarding risk factors to the business operations of the Best
Bridal Group. The information includes items that are not necessarily risk factors, butwhich are included proactively from an information disclosure perspective as important
to making investment decisions and understanding the Group’s business activities.
Forward-looking statements contained herein are based on the Company’s best
judgment as of the end of fiscal 2012. The Company strives to prevent the emergenceof risks and respond to risks when they materialize.
(1) Special characteristics of the businessa. Services
The Best Bridal Group aims to provide the latest wedding styles based on services
highly responsive to the interests and tastes of its customers. The Group continually
makes a meticulous analysis of contemporary needs and fashion trends and createshighly sophisticated services based on the accumulated know-how inside the Groupand among partner companies, including dining and other services delivered by chefs
and service staff specially assigned to each facility.
In the event that the Group’s services are unable to respond to current needs andfashion trends, secure partner companies or chefs which meet the requirements of theGroup, or provide sufficient services to customers, the Group’s operating results may
be affected.
b. Human resources
In order to expand its business scope and diversify its business operations, the Groupis actively recruiting recent university graduates as well as establishing training
systems to enhance the abilities of staff in the sales and administrative departments. In
the event that the Group cannot acquire the number of employees needed to expand
its business, the Group’s competitiveness may decline or the scope of businessexpansion may be restricted, and the Group’s operating results may be affected.
(2) Market in which the Group operates

7

According to statistics from the Ministry of Health, Labour and Welfare, Japan’s
population of marriageable age adults is gradually declining. If the overall size of thebridal market shrinks in the future, the Group’s operating results may be affected.
The Group plans to increase demand for its guest houses and weddings by being
recognized for its new wedding styles and expanding market share as its recognition
rises. In the event that existing hotels or ceremony hall operators become attracted to
the growth of the market and enter the guest house and wedding market with original
services, competition with other companies may arise on account of the new market
entrants, and the Group’s operating results may be affected.
(3) Operating results and financial conditiona. Seasonal changes in operating results
The Group’s net sales increase with the construction of new facilities as well as during
the prime wedding seasons in Japan, which are April–June and October–December(the second and fourth quarters of the fiscal year).
Quarterly results for the fiscal year ended December 31, 2012

Net sales
Operating
IncomeFirst Quarter

Second Quarter

Third Quarter

Fourth Quarter(year-on-year % change)(year-on-year % change)(year-on-year % change)(year-on-year % change)

million yen
8,769(19.7%)
345(5.3%)

million yen
11,600(26.1%)
1,857(28.5%)

million yen
10,031(22.5%)
805(12.3%)

million yen
14,093(31.7%)
3,510(53.9%)

b. Heavy reliance on debt
The Best Bridal Group procures loans from financial institutions as investment capitalto build new guesthouses and to pay for construction costs, deposits, guarantees andother expenses incurred. Consequently, the ratio of interest-bearing debt to total
assets is high. The balance of interest-bearing debt as of December 31, 2011 was¥18,332 million, and it declined to ¥16,647 million as of December 31, 2012. The ratio
of interest-bearing debt to total assets stood at 38.7% as of December 31, 2011, and34.4% as of December 31, 2012, reflecting the Group’s heavy reliance on debt. The
ratio of interest expenses to net sales was 0.8% in the year ended December 31, 2011
and 0.7% in the year ended December 31, 2012.
In the event that the financial situation changes significantly and interest rates rise,
the Group’s operating results may be affected.
Additionally, some of the Group’s loans have financial covenants attached. In theevent that a lender enforces a covenant and demands settlement due to a conflict, theGroup may be forced to forfeit profits and repay the loan in full.
c. Overseas conditions
The Best Bridal Group offers overseas wedding services, mainly to Japanesecustomers, in the United States and Indonesia (Bali). As of December 31, 2012, inHawaii the Group directly operated five wedding chapels and had exclusive usage
rights to two churches, while in Bali the Group directly operated two wedding chapels.
Wedding plans for each of these markets are sold through four sales salons in Japanand one in Hawaii, making a total of five sales salons. Changes in political or economic
situations in these overseas regions, including acts of war, terrorism, or major natural
disasters, could cause cancellations and may affect the Group’s operating results.

8Local companies Best Bridal Hawaii, Inc. and PT. Tirtha Bridal provide wedding
services based on orders from the sales salons and also arrange weddings for local
customers. Additionally, Best Bridal Korea Inc. is constructing guest houses and has
signed lease contracts with Marizin Inc. as part of its plans to enter the Korean bridal
market. In the event that these businesses do not perform according to the Company’s
forecasts, the Group’s operating results may be affected.
d. Foreign exchange rate volatility
The Company has liabilities denominated in foreign currencies, including outstandingloans to subsidiaries. Overseas subsidiaries also have outstanding loans denominatedin foreign currencies. Consequently, significant changes in foreign exchange rates
change may affect the Group’s operating results.
e. Food safety
The Best Bridal Group operates restaurants in its ceremony halls and hotels which are
subject to Food Sanitation Laws. To avoid the possibility of business suspension due
to food poisoning or any other hygiene-related issue, the Group appoints sanitary
managers to its outlets and restaurants and continually takes other measures toconsistently maintain the highest levels of food safety and quality. In the event,
however, of a major food quality problem which goes beyond the scope of the Group’s
measures, the Group’s operating results may be affected.
(4) Continuity of management personnel
Masayuki Tsukada is the president and CEO of Best Bridal Inc. He performs animportant role in the performance of business activities by making decisions on
management policies and strategy. The Company mitigates management risks throughthe use of management committees, the delegation of management responsibilities,
and the strengthening of human resources in each business area, to ensure thatbusiness operation and performance are not overly reliant on Masayuki Tsukada. If,
however, an unforeseen event precluded Masayuki Tsukada from performing his
duties, the promotion of the Group’s business activities and the Group’s businessresults may be affected.
(5) Laws and regulations
In Japan, the Best Bridal Group is subject to various regulations on the construction andrenovation of its guest houses, including the Building Standards Act the Fire Service
Act, and the Sewerage Act. In addition, the Group is subject to wastewater emission,
noise emission, and other local ordinances pertaining to the building structure andconstruction location. When the Group constructs or renovates its facilities, it hires alicensed architect or construction company to verify the structure. Additionally,
verifications are made directly by the Company’s marketing department and the fire
department. Despite these measures, infringements of the above regulations could
delay construction plans or interfere with operations, and the Group’s operating results
may be affected.
The Group registers its overseas salons in accordance with the Travel Agency Act(type one business activities). In the event that the Group contravenes this Act and isunable to renew its registration or has its registration revoked, the Group’s operating
results may be affected.
The Group operates its hotels in accordance with the Inns and Hotels Act. In addition,
beauty services offered prior to wedding ceremonies are subject to the Act on Specified
Commercial Transactions.
(6) Capital investment and new construction
a. Current guest houses
9Facility nameNihonbashi Shirogane Yokohama Osaka Sendai Hoshigaoka Shinurayasu Omiya Aoyama Ichigaya

No. of guest houses
Facility name
No. of guest houses

1

2

4

5

3

2

5

8

3

Shinsaibashi Marunouchi Yagoto Kamogawa Chiba Akasaka Odaiba Nagoya Minato Iseyama

2

1

4

3

2

1

1

3

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As of December 31, 2012, the Best Bridal Group operated 19 outlets (58 guest
houses) inside Japan. All of the facilities were planned internally by the Company’s
design and construction department.
In the future, the Group will continue to launch new guest houses, mainly in theTokyo metropolitan, Kansai, and Chukyo regions, after meticulous market analysis,
facility planning, and site selection.
The Group renovates existing guest houses on a three-year renewal cycle as it
seeks to sustain a stable customer acquisition rate by maintaining the facilities’
newness and high-quality design.
In the event, however, that the Group is unable to acquire real estate (primarily land)
suitable for facilities construction or employ necessary operations staff, or fail toreceive customer support for new or existing facilities, the Group’s operating results
may be affected.
Additionally, in the event that the Group recognizes an impairment stemming from asignificant decline in the real prices of the Group’s property caused by changes inmarket trends or the business environment, the Group’s operating results and financial
condition may be affected.
b. Outlet development
The Group typically signs lease contracts to secure sites needed for its directly
operated outlets and pays deposits and guarantees as well as upfront interior andexterior design expenses. Human resources, rental and other running costs are
incurred after outlet opening. The payment of deposits and guarantees as well as
related upfront expenses increases with each new outlet. The Group may be required
to pay a penalty in the event that it closes an outlet prior to the planned period of
operation. Additionally, the Group may be unable to recover a portion or all of its
deposits and guarantees in the event that a lessor goes bankrupt.
With regard to securing sites for future outlets, in order to raise the assurance ofoutlet planning and promote guest house construction, the Group will maintain a policyof using land acquisition and securitization as an option to leasing. The Group willcontinue to prioritize management efficiency and avoid the deterioration of its financial
condition in planning new outlets, but the acquisition of land may affect the financial
condition.
As an original outlet design, the Group also maintains large-scale sites containing
multiple guest houses. The construction of multiple guest houses within a single siteenables the Group to better serve the diverse needs and tastes of customers byoffering an array of concepts to a large number of occupants. The Group’s policy is tocontinue to focus on the development of large-scale outlets. However, thedevelopment of large-scale outlets requires suitable sites which the group may not beable to secure. If, as a consequence, the Group is unable to carry out its development
plans, the Group’s operating results may be affected.
c. Special-purpose company
The Best Bridal Group utilizes the Shirogane office as a special-purpose company(Shirogane SPC Co., Ltd.). The Company invests in an anonymous partnership inconnection with the SPC and has used the Practical Solution on Application ofControl Criteria and Influence Criteria to Investment Associations (ASBJ Practical
101Issues Task Force No. 20, September 8, 2006) to determine whether or not theCompany has control and influence over the SPC. The executive authority for the
anonymous partnership is the SPC, and the Company does not have any direct
voting rights or other authority which would give it control over the SPC. Since it isclear that the Company cannot make decisions over financial, operating, or business
policies, the anonymous partnership operated by Shirogane SPC Co., Ltd. does not
qualify as a subsidiary and is excluded from the consolidated results.
The Company recognizes the issues surrounding special purpose companies,
which have been the subject of international debate. Namely, in recent years
transactions involving special purpose companies have surged and become more
complex and diversified, raising concerns that the Company could cause interested
parties to make incorrect judgments regarding business combinations. In the eventthat the Company’s scope of consolidation changes in the future based on theannouncement of new accounting standards or practical solutions, the Group’s
operating results and financial condition may be affected.
The anonymous partnership operated by Shirogane SPC Co., Ltd. had trust
beneficiary rights of ¥2,783 million as of December 31, 2012, and loans fromfinancial institutions totaling ¥2,174 million.
(7) Management of customer information
The Best Bridal Group gathers personal information on many customers through its
order receipt activities. The Group takes measures to maintain the confidentiality ofthis personal information and mitigate the risk of information leaks, including storing
the information in locked cabinets and using passwords to secure electronic
information. If, however, an unforeseen incident caused the leakage of personal
information, society’s trust in the Group would decline, and the Group’s operating
results may be affected.
2. Management Policy(1) Basic management policy
Through its global bridal business, Best Bridal works to bring people together andbind their hearts, while pursuing high added value and striving to be a company
abounding in creativity. Based on this corporate philosophy, the Company provides
high-quality services and facilities with high added value by accurately understanding
the ever-changing needs of customers. Going forward, the Company will continue topursue the creation of new value in the bridal market, seeking to achieve sustainablegrowth for the Best Bridal Group and enhancing corporate value.
The Group has five basic strategies to accomplish its basic management policy.
1. Outlet development strategy: Develop guest houses, primarily in the Tokyo
metropolitan, Kansai, and Chukyo regions, which are geared towards the uniquecharacteristics of each market.
2. Product development capabilities: Develop competitive products with high added
value, aiming to provide customers with highly satisfying products and services.
3. Proposal and sales capabilities: Accurately understand the needs—the “dreams”—of
customers and enhance proposal and sales capabilities to realize these dreams.
4. Enhanced profitability: Rationalize management and enhance the efficiency ofbusiness operations in order to achieve high profitability.
5. Fund procurement: Procure funding with a priority on funding costs and with a viewto maintaining a sound financial condition, enhancing capital efficiency, and carefully
considering stock price dilution.
(2) Management goals and indicators
The Best Bridal Group aims to remain a corporate entity capable of stable andcontinuous growth. To enhance corporate value, the Group will strive to strengthen its
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financial condition while increasing its equity ratio, an important index measuring
improvement in comprehensive profitability.
(3) Medium- to long-term management strategy(1) Product strategy
Based on meticulous analysis of contemporary needs and fashion trends, theCompany provides guest houses and wedding services which embody the desires ofbridal couples.
In the Company’s guest house and wedding services, the bridal couples become
the lords of the manor, acting as party hosts to their many guests. Bridal customers
have their own personal dreams and hopes, and the Company establishes astructure to provide sophisticated services highly responsive to the interests andtastes of its customers by combining the accumulated know-how inside the Company
with its many partner companies. Additionally, in the dining and other service areas,
the Company appoints chefs and other specialized staff to each outlet in order tomaintain the highest levels of service quality.
(2) Outlet development strategy
The Company aims to create high-quality, authentic facilities. The domestic network
comprises 19 facilities. The continued growth of the Company depends on efficientfacility development based on meticulous marketing analysis, facility planning, andsite selection.
The Company is focusing its outlet development on the Tokyo metropolitan, Kansai,
and Chukyo regions, which offer strong future growth potential. Existing guest houses
are renovated on a three-year renewal cycle in order to sustain a stable customer
acquisition rate by maintaining the facilities’ newness and high-quality design.
(3) Sales strategy
The Company does not conduct door-to-door selling, but rather uses its sales staff toprovide face-to-face sales to customers visiting facilities.
Sales staff greet customers visiting guest houses and sales salons and provide
them with a tour of the facilities in addition to using pamphlets and sales materials.
Having customers actually experience the attraction of the facilities first-hand leads topositive sales results. In proposing new wedding styles, sales personnel utilize theirknow-how and experience to earn customers’ trust and satisfaction and successfullycomplete sales. The Company will establish a training system to enhance theproposal capabilities of staff and nurture employees with even higher skills.
For marketing and advertising, the Company relies heavily on paid advertisements
in wedding magazines and other print media. To beat the competition in winningorders, it is critical to create more appealing advertisements. The Company aims tocreate highly appealing advertisements by featuring photographs that maximize theattractions of the guest house design and service content. The Company also actively
solicits customers over the Internet through its websites featuring the guest houses
and service offerings.
Sales success rates and other sales results from each guest house are compiled
and analyzed weekly. Domestic business managers consult with managers and staff
at guest houses which show signs of declining success rates, and provide them withguidance on how to improve success rates.
For overseas wedding services, the Company is strengthening the overseas
wedding salons in Japan (four outlets) and sales channels in order to enhance theability of salons to draw customers and achieve high success rates.
(4) Issues to Address
Regarding the economic environment in which the Best Bridal Group operates, theeconomic outlook remains uncertain despite the expected beneficial impact of12

economic stimulus measures in various countries and a moderate improvement incorporate earnings.
In this environment, there is a need for the Best Bridal Group to accurately
understand the increasingly individualized and diversified needs of customers, andbased on that understanding, offer highly competitive and attractive guest houses aswell as create and provide services with high added value.
In addition, as the Group responds to business environment changes and bridal
market diversification, it must also strengthen its financial condition, secure and foster
talented human resources, bolster the risk management structure for the entire
Group, and establish a more sound and efficient management structure in order toraise corporate value.
(1) Guest house development
The Company operates 19 outlets in Japan. Since the development of highly
competitive guest houses is a core competency, the Company plans to diversify its
outlet development strategy plans and promote more efficient development.
(2) Securing and fostering human resources
The Company considers the strengthening of its wedding presentation capabilities tobe an effective way to bolster customer service and differentiate its services fromcompetitors. To this end, the Company will continue to create systems to raise themotivation of its employees while building a structure to support the medium- tolong-term nurturing of employees.

133. Consolidated Financial Statements(1) Consolidated Balance Sheets

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful receivables
Total current assets
Fixed assets
Tangible assets
Buildings and structures, net
Accumulated depreciation
Buildings and structures, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total tangible assets
Intangible assets
Goodwill
Other, net
Total intangible assets
Investments and other assets
Investment securities
Lease and guarantee deopsits
Deferred tax assets
Other
Total investments and other assets
Total fixed assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets

14

December 31, 2011

(millions of yen)
December 31, 2012

AmountAmount10,640
273
47
312
368
722
(32)
12,332

11,314
333
39
327
364
824
(48)
13,154

27,148(10,281)
16,867
4,560
16
3,372
(2,457)914
22,35828,310(12,062)
16,247
4,760
175
3,837
(2,796)1,040
22,224

1,124
245
1,370

1,042
231
1,273

2,143
5,705
1,733
1,696
11,27835,007

2,481
5,827
1,961
1,426
11,69735,195424247,38232
32
48,381

December 31, 2011
Amount(millions of yen)
December 31, 2012
AmountLiabilities
Current liabilities
Accounts payable - trade
Current portion of long-term debt
Current portion of bonds
Income taxes payable
Advances received
Provision for loss on cancellation of rental contract
Other
Total current liabilities

1,966
3,408
640
2,226
1,288
52
2,304
11,886

2,157
3,191
612
2,237
942
52
2,527
11,722

Fixed liabilities
Bonds
Long-term debt
Provision for employees’ retirement benefits
Provision for directors’ retirement benefits
Provision for loss on cancellation of rental contract
Asset retirement obligations
Other
Total fixed liabilities
Total liabilities

2,202
12,049
218
374
152
1,048
1,623
17,66929,556

1,590
11,230
268
594
100
1,068
992
15,84427,566472
634
16,94918,056472
634
19,72920,836

(31)

41

(8)

13

(190)
(230)
17,82547,382(76)(21)
20,81548,381

Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Total shareholders’ equity
Accumulated other comprehensive income
Net unrealized gain on available-for-sale securities
Deferred gain (loss) on derivatives under hedge
accounting
Foreign currency translation adjustments
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

15

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

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Gain on investments in silent partnership
Foreign exchange gains
Surrender value received
Equity in earnings of affiliates
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Amortization of bond issuance costs
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of fixed assets
Gain on sales of business
Reversal of provision for employees’ retirement
benefits
Reversal of provision for shop closing expenses
Total extraordinary income
Extraordinary loss
Loss on disposal of fixed assets
Loss on sales of fixed assets
Effect of adoption of new accounting standards for
asset retirement obligations
Loss on phased acquisition
Impairment loss
Total extraordinary loss
Income before income taxes and minority interests
Income taxes—current
16Year ended
December 31, 2011
Amount41,741
27,496
14,245
7,850
6,395(millions of yen)
Year ended
December 31, 2012
Amount44,49428,955
15,539
9,020
6,519

46
125
36
51
63
323

56
108
78
61
3
10
92
410

352
8
101
33
496
6,222

308
9
1
319
6,610

3
47

0
-

11

-

3
66

0

23
0

104
-

446

-

96
566
5,721
3,108

181
286
6,324
3,325

Year ended
December 31, 2011
Amount
(57)
3,051
2,670
2,670

Income taxes—deferred
Total income taxes
Income before minority interests
Net income

17(millions of yen)
Year ended
December 31, 2012
Amount
(270)
3,054
3,270
3,270

Consolidated Statements of Comprehensive Income

Income before minority interests
Other comprehensive income
Net unrealized gain on available-for-sale securities
Deferred gain (loss) on derivatives under hedge
accounting
Foreign currency translation adjustments
Share of other comprehensive income of affiliates
accounted for under the equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of theparentComprehensive income attributable to minority
interests

18

Year ended
December 31, 2011
Amount2,670(millions of yen)
Year ended
December 31, 2012
Amount
3,270

(26)

72

51

21

(32)

86

(8)

27

(15)
2,654

208
3,479

2,654

3,479

-

-

(3) Consolidated Statements of Changes in Net Assets
Year ended
December 31, 2011
Amount(millions of yen)
Year ended
December 31, 2011
AmountShareholders’ equity
Capital stock
Balance at beginning of term
Balance at end of term

472
472

472
472

Capital surplus
Balance at beginning of term
Balance at end of term

634
634

634
634

14,93916,949

(660)
2,670
2,009
16,949

(489)
3,270
2,780
19,72916,046

18,056

(660)
2,670
2,009
18,056

(489)
3,270
2,780
20,836

(4)

(31)

(26)
(26)
(31)

72
72
41

(60)

(8)

51
51
(8)

21
21
13

Retained earnings
Balance at beginning of term
Changes during term
Cash dividends
Net income
Total changes during term
Balance at end of term
Total shareholders’ equity
Balance at beginning of term
Changes during term
Cash dividends
Net income
Total changes during term
Balance at end of term
Accumulated other comprehensive income
Net unrealized gain on available-for-sale securities
Balance at beginning of term
Changes during term
Net changes in items other than shareholder's equity
Total changes during term
Balance at end of term
Deferred gain (loss) on derivatives under hedge
accounting
Balance at beginning of term
Changes during term
Net changes in items other than shareholder's equity
Total changes during term
Balance at end of term19

(millions of yen)

Foreign currency translation adjustments
Balance at beginning of term
Changes during term
Net changes in items other than shareholder's equity
Total changes during term
Balance at end of term
Total accumulated other comprehensive income
Balance at beginning of term
Changes during term
Net changes in items other than shareholder's equity
Total changes during term
Balance at end of term
Total net assets
Balance at beginning of term
Changes during term
Cash dividends
Net income
Net changes in items other than shareholder's equity
Total changes during term
Balance at end of term

20

Year ended
December 31, 2011

Year ended
December 31, 2011

AmountAmount
(149)

(190)

(41)
(41)
(190)

114
114
(76)

(214)

(230)

(15)
(15)
(230)

208
208
(21)

15,832

17,825

(660)
2,670
(15)
1,993
17,825

(489)
3,270
208
2,989
20,815

(4) Consolidated Statements of Cash flows(millions of yen)

Year ended
Year ended
December 31, 2011 December 31, 2012
AmountCash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Effect of adoption of new accounting standards for asset
retirement obligations
Amortization of goodwill
Amortization of bond issuance costs
Loss on disposal of tangible assets(Gain) loss on sales of fixed assets(Gain) loss on investments in silent partnership
Equity in (earnings) losses of affiliates
Foreign exchange (gain) loss
Impairment loss
(Gain) loss on phased acquisition(Gain) loss on sales of business
Increase (decrease) in provision for shop closing expenses
Increase (decrease) in allowance for doubtful receivables
Increase (decrease) in provision for employees’ retirement
benefits
Increase (decrease) in provision for directors’ retirement
benefits
Increase (decrease) in provision for loss on cancellation ofrental contract
Interest and dividend income
Interest expenses(Increase) decrease in notes and accounts receivable trade(Increase) decrease in inventories
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in advances received
Increase (decrease) in other liabilities
Other- net
Sub totalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities

21

Amount
5,721
2,538

6,324
2,521

446

-

93
8
23
(3)
(125)
(36)
56
96
(47)
(9)

83
9
55
(0)
(108)
(3)
(89)
181
-

14

16

(30)

49

29

220

(52)

(52)

(55)

(59)

352

308

24

(55)

154
124
30

(7)
187
(347)

(1,574)

(503)

778

60

8,560
31
(347)
(3,055)
5,190

8,792
46
(312)
(3,302)
5,223

Year ended
Year ended
December 31, 2011 December 31, 2012
AmountCash flows from investing activities
Purchase of tangible assets
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from purchase of stocks of subsidiaries resulting
in changes in scope of consolidation
Loans receivableCollection of loans receivable
Lease and guarantee deposits
Collection of lease and guarantee deposits
Other- net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term debt
Proceeds from long-term debt
Repayments of long-term debt
Proceeds from issuance of bonds
Payments for redemption of bonds
Dividends paid to shareholders
Other – net
Net cash provided by (used in) financing activities
Foreign currency translation adjustments on cash andcash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period

22

Amount(3,092)
(130)
(416)
126

(2,172)
(95)
(416)
332

292

-

(164)
54
(233)
92
(16)
(3,488)

(85)
200
(221)
60
(12)
(2,409)

(494)
4,120
(4,034)
1,963
(498)
(658)
(10)
388

2,450
(3,509)
(640)
(489)
(9)
(2,198)

(31)

58

2,059
8,473
10,532673
10,532
11,205(5) Note on the Going-concern Assumption
Not applicable(6) Basis for Preparation of Consolidated Financial Statements
1. Scope of consolidation(1) Number of consolidated subsidiaries: 6
Name of consolidated subsidiaries:
Best Planning Inc.
Best Bridal Hawaii, Inc.
Acqua Grazie, Inc.
Best Bridal Korea Inc.
PT. Tirtha Bridal
Hospitality Network Corporation(2) Name of principal non-consolidated subsidiaries:
Non-consolidated subsidiary
Life Create Bank, Inc.
(Reason for excluding Life Create Bank, Inc. from consolidation)
Life Create Bank, Inc. has been excluded from consolidation, because it is small in size and its
total assets, net sales, net income/loss for the year ended December 31, 2012 (amounts
proportionate to the Company’s equity interest),and retained earnings (amount proportionate to
the Company’s equity interest) have no significant impact on the consolidated financial
statements.
2. Application of equity method(1) Number of equity method affiliates: 1
Name of equity method affiliate:
Marizin Inc.
(2) The equity method was not applied to a non-consolidated subsidiary (Life Create Bank, Inc.),
because it is of minor importance in terms of the bearing of net income/loss (amounts
proportionate to the Company’s equity interest) and retained earnings (amount proportionate to
the Company’s equity interest) on the consolidated financial statements for the year ended
December 31, 2012, and in terms of its position within the whole Best Bridal Group.
3. Accounting period of consolidated subsidiaries
Consolidated subsidiaries have the same accounting period as the parent company.
4. Accounting standards(1) Valuation of principal assets
1) Securities
Securities held to maturity:
Amortized cost method (straight-line method)
Available-for-sale securities:
For which market quotations are available:
These securities are recorded at fair value based on market quotations, etc. on the consolidatedbalance sheet date. (Unrealized holding gains and losses are recorded as a net amount in net
assets. The cost of securities sold is calculated with the moving average method.)
For which market quotations are not readily available:23Calculated using the moving average cost method.
With respect to investments in silent partnership, the Company uses a method whereby itrecords the net amount of the percentage interest held based on the most recent statement ofaccounts that the Company is able to obtain as of the day stipulated in the partnershipagreement on which the latest statement of accounts is reported.
2) Derivatives
Recorded at fair value.
3) Inventory
Merchandise:
Cost determined by identified cost method (The balance sheet amounts are calculated by way ofwrite-down of book value to reflect reduced profitability.)
Raw materials and supplies:
Cost determined by last purchase cost method (The balance sheet amounts are calculated by
way of write-down of book value to reflect reduced profitability.)(2) Depreciation/amortization of material depreciable/amortizable assets
1) Tangible assets (excluding lease assets)
Declining balance method
Buildings (excluding leasehold improvements) acquired by some consolidated subsidiaries on orafter April 1, 1998, however, are depreciated with the straight-line method.
Buildings and structures held by the Company on leased land based on fixed term land leaseagreements are depreciated by the straight-line method over the period equal to the remaining
period of the fixed term land lease right with a residual value of nil.
2) Intangible assets (excluding lease assets)
Straight-line method
Software obtained for internal use is amortized over its estimated useful life (five years).
3) Lease assets
The straight-line method is used with the lease period as the useful life and a residual value of nil.
Leased assets under finance leases other than those that transfer the ownership of the leased
assets to the lessee and which constitute lease transactions entered into on or before December
31, 2008, are accounted for in the same manner as operating leases.
(3) Accounting standards for principal reserves and allowances
1) Allowance for doubtful receivables
To cover possible losses from bad debts, the Company records an allowance for doubtfulreceivables in the uncollectible amount estimated based on historical default rates for general
receivables and based on analysis of debtors’ financial positions for specific doubtful receivables.
2) Provision for employees’ retirement benefits
To prepare for the payment of employees’ retirement benefits, a provision is recorded for theperiod based on projected benefit obligations and the estimated value of pension plan assets at
the end of the fiscal year. Prior service costs incurred at some of the foreign consolidated
subsidiaries are expensed using the straight-line method over a certain number of years, which is
not to exceed the estimated average remaining service life of the plan participants at the time ofincurrence. Actuarial gains and losses are expensed on a straight-line basis starting from the year
immediately following the year when they were incurred over a certain number of years, which is24

not to exceed the expected average remaining service life of the plan participants at the time ofincurrence.
3) Provision for directors’ retirement benefits
To prepare for the payment of directors’ retirement benefits, the necessary amount is charged
based on year-end provision calculated using the in-house regulations.
4) Provision for loss on cancellation of rental contract
To cover possible losses from withdrawal of branches or other similar events, the Company
records a provision for the amount of estimated penalties for the cancellation of rental contracts.
(4) Standards for translating significant assets or liabilities denominated in foreign currencies into
Japanese yen
Foreign currency denominated claims and obligations are translated into Japanese yen at the spot
rate prevailing on the consolidated balance sheet dates. Currency translation losses or gains arerecorded on the income statement as such. The assets and liabilities of foreign subsidiaries arealso translated into Japanese yen at the spot rate prevailing on the consolidated balance sheet
date, and revenues and expenses are translated into Japanese yen at the average rate over theperiod. Any translation losses or gains are recorded in the net assets under the account “Foreign
currency translation adjustments.”(5) Accounting for significant hedges
1) Hedge accounting
Deferred hedge accounting is applied. The company applies special treatment to interest-rate
swap agreements that meet the criteria for such special treatment.
2) Hedging instruments and hedged transactions
Hedging instruments:
Interest rate swap, foreign exchange forward contracts
Hedged transactions:
Foreign currency-denominated claims and obligations, foreign currency-denominated-forecasted
transactions, debts
3) Hedging policy
The Company uses derivative transactions for the purpose of hedging foreign exchange risks andinterest rate risks to meet the Company’s actual needs. It is the Company's policy not to engage inderivative transactions for speculative purposes.
4) Method for evaluating effectiveness of hedges
The effectiveness of hedges is assessed by measuring the high correlation between changes inmarket values or cash flows of hedge instruments and changes in market values or cash flows of
the hedged items.
(6) Amortization method and period for goodwill
Goodwill is equally amortized over the period of the future economic benefits for each investment.
(7) Scope of cash and cash equivalents in the consolidated statements of cash flows
Cash on hand, bank deposits able to be withdrawn on demand, and short-term investments withmaturities of three months or less at the date of acquisition and that are readily convertible to cash
and represent a minor risk of fluctuation in value.
(8) Other important matters for preparation of consolidated financial statements
Consumption taxes:
25Transactions are recorded exclusive of consumption taxes.

(7) Additional information(Adoption of accounting standard for accounting changes and error corrections)
The Company has adopted the Accounting Standard for Accounting Changes and Error Corrections(ASBJ Statement No. 24, December 4, 2009) and Guidance on Accounting Standard for Accounting
Changes and Error Corrections (ASBJ Guidance No. 24, December 4, 2009) for accounting changes
and corrections of prior period errors made after the beginning of the fiscal year ended December 31,
2012.

26

(8) Notes to the financial statements(Segment and Other Information)
Segment Information
1. Overview of reportable segment
The Best Bridal Group’s reportable segments are components of the Group about which separate
financial information is available. These segments are subject to periodic examinations to enable theCompany’s board of directors to decide how to allocate resources and assess performance.
The Group’s operations are classified into two reportable segments: the domestic operations
segment that provides services such as planning and operation related to wedding ceremonies andbanquets in Japan and the overseas operations segment that conducts weddings abroad.
Domestic operations comprises store management in Japan and sales to customers, provision offood and drink at wedding banquets, dress rental and beauty care services, as well as the
management of hotel weddings/banquet and provision of hotel accommodation services. Overseas
operations consist mainly of management of wedding venues and operation of weddings and banquet
in Hawaii and Bali Indonesia, for customers who booked through the Group’s sales salons in Japan.
The segment also subleases wedding facilities to an affiliate in South Korea.
2. Calculation of net sales, income/loss, assets, liabilities, and other items by reportable segment
Accounting methods applied in reportable segment by industry largely corresponding to thosepresented under “Basis for Preparation of Consolidated Financial Statements.”
Reportable segment income is based on operating income.
Intersegment sales or transfers are based on market price.
3. Net sales, income/loss, assets, liabilities, and other items by reportable segment
Year ended December 31, 2011 (January 1 to December 31, 2011)(millions of yen)
Reportable segment

Amount recordedon consolidated

Domestic

Overseas

operations

operations

38,986

2,755

41,741-

41,741

7

10

18

(18)

-

38,993

2,766

41,759(18)

41,741

Total

Adjustments

statements of(note 1)income (note 2)

Net sales
Sales to outside customers
Inter-segment sales and transfers
Total
Segment income

7,317

149

7,467

(1,071)

6,395

Segment assets

35,3992,118

37,517

9,864

47,382

Depreciation/amortization

2,394

97

2,492

46

2,538

Amortization of goodwill

80

12

9

-

93

-

135

135

-

135

4,191

37

4,228

15

4,243

Other items

Investment in equity method
affiliates
Increase(decrease) in tangible andintangible assets
Note: 1. Details of adjustments are as follows:27

(1) The minus 1,071 million yen adjustment for segment income includes 16 million yen elimination ofinter-segment sales and minus 1,087 million yen of unallocated corporate expenses. The main
component of these unallocated corporate expenses is SG&A expenses that are not attributable toreportable segments.
(2) The 9,864 million yen adjustment for segment assets comprises unallocated corporate expenses.
Unallocated corporate expenses consist mainly of cash and deposits held by the Company which are
not attributable to reportable segments.
2. Segment income (loss) adjustments are based on operating income reported on the consolidated
statements of income for the corresponding period.

Year ended December 31, 20112 (January 1 to December 31, 2012)(millions of yen)
Reportable segment

Amount recordedon consolidated

Domestic

Overseas

operations

operations

41,6332,861

44,494-44,494

6

0

7

(7)

-

Total

41,6402,861

44,502(7)

44,494

Segment income

7,653

218

7,871

(1,352)

6,519

Segment assets

33,491

2,671

36,163

12,21848,381

Depreciation/amortization

2,382

102

2,484

37

2,521

Amortization of goodwill

81

2

83

-

83

-

166

166

-

166

1,951

504

2,455

45

2,501

Total

Adjustments

statements of(note 1)income (note 2)

Net sales
Sales to outside customers
Inter-segment sales and transfers

Other items

Investment in equity method
affiliates
Increase(decrease) in tangible andintangible assets
Note: 1. Details of adjustments are as follows:(1) The minus 1,352 million yen adjustment for segment income includes 15 million yen elimination ofinter-segment sales and minus 1,368 million yen of unallocated corporate expenses. The main
component of these unallocated corporate expenses is SG&A expenses that are not attributable toreportable segments.
(2) The 12,218 million yen adjustment for segment assets comprises unallocated corporate expenses.
Unallocated corporate expenses consist mainly of cash and deposits held by the Company which are
not attributable to reportable segments.
2. Segment income (loss) adjustments are based on operating income reported on the consolidated
statements of income for the corresponding period.

28

(Per Share Information)
Year ended December 31, 2011

Year ended December 31, 2012

Net assets per share

72,817.26

Net assets per share

85,029.46

Net income per share

10,909.27

Net income per share

13,358.47

Diluted net income per share is not presented as
there are no potentially dilutive securities.

Diluted net income per share is not presented as
there are no potentially dilutive securities.

(Note) Calculation base for net income per share are as follows.

Net income (millions of yen)Amount not attributable to common stockholders(millions of yen)
Net income attributable to common stock (millionsof yen)Average number of shares outstanding during theterm (shares)(Significant Subsequent Events)
Not applicable

29

Year ended
December 31, 2011

Year ended December
31, 2012

2,670

3,270

-

-

2,670

3,270

244,800

244,800

4. Other Information(1) Changes in Officers
Not applicable(2) Weddings Held, Orders Received, and Sales volume
1) Number of weddings held
Year ended December 31, 2011

Year ended December 31, 2012

Number of weddings held (cases)

Number of weddings held (cases)

Domestic operations

8,478

9,543

Overseas operations

2,768

2,974

Total

11,246

12,517

Year ended December 31, 2011

Year ended December 31, 2012

Segment

2) Orders received

Segment

Orders received

Order backlog

Orders received

Order backlog(cases)(cases)(cases)(cases)Domestic operations

8,596

5,462

10,277

6,196

Overseas operations

2,830

1,454

2,942

1,422

Total

11,426

6,916

13,2197,6183) Sales volume
Segment

Year ended December 31, 2011

Year ended December 31, 2012

million yen

million yen

Domestic operations

38,986

41,633

Overseas operations

2,755

2,861

Total

41,74144,494

Notes: 1. Inter-segment transactions have been eliminated from the amounts shown above.
2. The above amounts do not include consumption tax.

30