During the fiscal year that ended in October 2022, the pandemic continued to impact the Japanese economy since 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 economy remains 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 1,808 million 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.
A fundamental management objective at IKK is for our corporation to become indispensable to local communities through the contributions we make to society with our style of corporate management based on our management philosophy, “To touch our customers' hearts!” We are also aware that strengthening the growth potential and excellence of our company while increasing corporate value and longevity are among the challenges we face as management.
At IKK, we take seriously our mission and responsibility as a public institution of society and are determined to be a leading company in the wedding industry as we continue to share and test our corporate philosophy. Toward that end, we ask our shareholders and investors for their continued guidance and encouragement.
December 12, 2022