Operating Results for the Fiscal Year Ended October 31, 2022 (FY2022)
During the fiscal year that ended in October 2022, the pandemic continued to impact the Japanese economysince the beginning of the year and restrictions on some social activities remained in place. Restrictions were eased during the year because of measures to prevent infections and progress with vaccinations. Worldwide,there was an increase in geopolitical risk due to the Ukraine crisis, China-Taiwan tension and other events.Economic risk also increased as the yen depreciated rapidly because of the widening gap between U.S. and Japanese interest rates, inflation in Japan and other problems. As a result, the outlook for the economyremains uncertain.
In the wedding industry, the number of weddings and receptions is gradually increasing due to the resumption of events to attract customers as restrictions on socio-economic activity have been reduced.
IKK Holdings Inc. (“IKK”) and its group companies (the “IKK Group”) are holding weddings and receptions while making the safety of guests and employees the highest priority. All activities include every possible measure based on the Guidelines for Preventing the Spread of COVID-19 for protection against infections.
Fiscal year sales increased 65.3% from one year earlier to 19,056 million yen. Operating profit was 1,808million yen compared with a 1,599 million yen loss one year earlier, ordinary profit was 2,096 million yen compared with a 610 million yen loss one year earlier, and profit attributable to owners of parent was 1,398 million yen compared with a 411 million yen loss one year earlier.
Although various restrictions on socio-economic activities have been reduced, the IKK Group continued to take numerous actions to prevent the spread of infections for holding weddings and receptions.
As a result, sales increased 68.6% from one year earlier to 18,442 million yen due to the higher number of weddings. Operating profit was 1,889 million yen compared with a 1,648 million yen loss one
Nursing care Operations
Sales decreased 0.9% from one year earlier to 545 million yen and operating loss was 2 million yen compared with a 41 million yen profit one year earlier.
Sales increased 62.2% from one year earlier to 182 million yen and operating profit increased 496.4% to 39 million yen.
A subsidiary was established in November 2021 to operate photography business. There were sales of 14 million yen and an operating loss of 87 million yen.
Matrimonial Matchmaking Business
A subsidiary was established in November 2021 to operate matrimonial matchmaking business. There were sales of 1 million yen and an operating loss of 29 million yen.