TSUKADA GLOBAL : 〔Delayed〕Tsukada Global Holdings Inc.Consolidated Earnings Report for the Six Months ended June 30, 2020(Japanese GAAP)

〔Delayed〕 The original disclosure in Japanese was released on August 7, 2020 at 15:00 (GMT+9)

August 7, 2020

Tsukada Global Holdings Inc.

Consolidated Earnings Report for the Six Months ended June 30, 2020 (Japanese GAAP)

Stock listing: Tokyo Stock Exchange (First Section)	Securities code: 2418
URL: http://www.tsukada-global.holdings/en/
Representative: Masayuki Tsukada, President and CEO
Information contact: Masahiro Yamazaki, Manager, Finance &	Tel:[phone]
Accounting Department
Scheduled dates:
Filing of statutory quarterly financial report (shihanki hokokusho):	August 14, 2020
Dividend payout:	-

Supplementary materials to quarterly financial results available: Yes

Quarterly earnings presentation held: Yes (Targeted at institutional investors and analysts)

(Amounts rounded down to the nearest million yen)

1. Consolidated Performance for the Six Months ended June 30, 2020 (January 1, 2020 - June 30, 2020)

(1) Consolidated Operating Results			(Percentages indicate year-on-year changes)
		Net sales			Operating income	Ordinary income		Profit attributable to
					owners of the parent
	Six months ended	million yen	%		million yen	%	million yen	%		million yen	%
	11,793	(59.4)		(7,740)	-	(8,186)	-		(6,719)	-
	June 30, 2020
	Six months ended	29,071	3.9		2,261	110.1	2,014	102.1		1,289	119.2
	June 30, 2019
	Note: Comprehensive income: Six months ended June 30, 2020: (6,856) million yen (- %)
		Six months ended June 30, 2019: 885 million yen (- %)
		Profit			Diluted profit
		per share			per share
		yen			yen
	Six months ended	(140.86)			-
	June 30, 2020
	Six months ended		27.04			-
	June 30, 2019
(2) Consolidated Financial Position
		Total assets	Net assets	Equity ratio
		million yen			million yen	%
	June 30, 2020		92,830		30,309		32.7
	December 31, 2019		99,343		37,404		37.7
	Reference: Total equity: June 30, 2020:	30,309 million yen

December 31, 2019: 37,404 million yen

2. Dividends

				Dividend per share
	End-Q1	End-Q2		End-Q3	Year-end	Annual total
Year ended	yen	yen		yen	yen	yen
-		5.00	-		5.00		10.00
December 31, 2019
Year ending	-		0.00
December 31, 2020
Year ending					-		-		-
December 31, 2020
(Forecast)

Note: No revision has been made to the latest dividends forecast.

Due to the difficulty in determining the consolidated earnings forecast at this time, the dividends forecast for the year ending December 31, 2020, remains underdetermined.

3. Earnings Forecast for the Fiscal Year ending December 31, 2020 (January 1, 2020 - December 31, 2020)

(Percentages indicate year-on-year changes)

	Net sales		Operating income	Ordinary income	Profit attributable to	Profit
		owners of the parent	per share
Year ending	million yen	%	million yen	%	million yen	%	million yen	%	yen
-	-	-	-	-	-	-	-	-
December 31, 2020
Note: No revision has been made to the latest earnings forecast.

*Notes

1. Changes in significant subsidiaries during the period: None
   (Changes in specific subsidiaries accompanying a change in scope of consolidation)

Newly Consolidated: None

Newly Deconsolidated: None

1. Use of accounting methods specific to the preparation of quarterly consolidated financial statements: Yes
   Note: For details, please refer to "(4) Notes on Quarterly Consolidated Financial Statements (Application of Specific Accounting Methods for the Preparation of Quarterly Financial Statements)" under "2. Quarterly Consolidated Financial Statements and Main Notes" on page 12 in the accompanying materials.
2. Changes in accounting policy, changes in accounting estimates, and retrospective restatement
3. 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: None
4. Shares issued (common stock)

	June 30, 2020	December 31, 2019
1) Number of shares issued at end of period	48,960,000	48,960,000
(including treasury stock)
2) Number of shares held in treasury at end of	1,259,834	1,259,834
period
	Six Months ended	Six Months ended
	June 30, 2020	June 30, 2019
3) Average number of shares outstanding during	47,700,166	47,700,166
the period

• Quarterly earnings reports are exempt from quarterly review conducted by certified public accountants or by auditing firms.

*Appropriate Use of Earnings Forecast and Other Important Information (Cautionary Statement with Respect to Forward-LookingStatements)

The above forecasts are based on information available as of this report's publication and on certain assumptions that are deemed reasonable. These forecasts are not guarantees of future performance, and actual results may differ from forecasts due to changes in the business environment. For the assumptions underlying the forecasts herein and other notice on the use of earnings forecasts, please refer to "(3) Earnings Forecast for the Fiscal Year ending December 31, 2020" in the section "1. Review of Consolidated Financial Results" on page 4 in the accompanying materials.

Accompanying Material - Contents
1. Review of Consolidated Financial Results	2
(1) Operating Results	2
(2) Analysis of Financial Condition	3
(3) Earnings Forecast for the Fiscal Year ending December 31, 2020	4
2. Quarterly Consolidated Financial Statements and Main Notes	5
(1) Consolidated Balance Sheets	5
(2) Consolidated Statements of Income and Comprehensive Income	7
Consolidated Statements of Income	7
Consolidated Statements of Comprehensive Income	8
(3) Consolidated Statements of Cash Flows	9
(4) Notes on Quarterly Consolidated Financial Statements	12
(Note on the Going-concern Assumption)	12
(Note on Significant Changes in the Amount of Shareholders' Equity)	12
(Application of Specific Accounting Methods for the Preparation of Quarterly Financial	12
Statements)
(Additional Information)	12
(Segment Information)	13
(Significant Subsequent Events)	15
3. Supplementary Information	15
(Weddings Held and Orders Received)	15

1

1. Review of Consolidated Financial Results

(1) Operating Results

In the first six months of the fiscal year ending December 31, 2020, the outlook for the Japanese economy remained uncertain, with corporate earnings, employment conditions, and personal spending deteriorating owing to restrictions on social and economic activities due to the impact of the novel coronavirus outbreak.

In this environment, the Tsukada Global Holdings Group ("the Group") focused on creating new value, developing high-quality, appealing outlets, and providing high value-added services in the bridal, hotel, and wellness and relaxation (W&R) markets. However, all segments of the Group were severely impacted by the sharp drop in the number of foreign visitors to Japan, an increase in the number of wedding reception postponements and cancellations, and an increase in membership suspensions and cancelations at comprehensive fitness club outlets, all resulting from the novel coronavirus outbreak.

As a result, in the first six months of 2020, the Group posted significantly decreased sales and profits. Consolidated net sales were ¥11,793 million (down 59.4% year on year). The Group recorded an operating loss of ¥7,740 (compared with a profit of ¥2,261 million a year earlier) and an ordinary loss of ¥8,186 million (compared with a profit of ¥2,014 million a year earlier). The net loss attributable to owners of the parent amounted to ¥6,719 million (compared with a profit of ¥1,289 million a year earlier).

The results for each business segment were as follows.

1. Wedding business
   In the first six months of fiscal 2020, the wedding business recorded a sales decline owing to an increase in the number of wedding reception postponements and cancelations due to the impact of the novel coronavirus outbreak, with the number of wedding receptions held falling significantly to 2,141 (down 63.8% year on year). Segment income also declined despite concerted companywide cost reduction efforts.
   As a result, net sales in the wedding business totaled ¥7,160 million (down 61.0% year on year) and segment loss was ¥3,464 million (compared with a profit of ¥2,943 million a year earlier).
2. Hotel business
   Segment sales and income declined in the first six months of fiscal 2020, because of a decrease in room revenue owing to the sharp drop in the number of foreign visitors to Japan, and because the number of weddings held at the Group's hotels decreased to 283 (down 64.1% year on year) owing to an increase in hotel wedding and banquet booking postponements and cancelations, all due to the impact of the novel coronavirus outbreak.
   As a result, net sales in the hotel business came to ¥3,492 million (down 60.1% year on year), and segment loss totaled ¥2,863 million (compared with a profit of ¥328 million a year earlier).
3. W&R business (Wellness & Relaxation business)
   Segment sales and income declined in the first six months of fiscal 2020 because of an

2

increase in membership suspensions and cancelations at the four Best Style Fitness comprehensive fitness club outlets due to the impact of the novel coronavirus outbreak.

As a result, the W&R business posted net sales of ¥1,139 million (down 41.5% year on year) and an operating loss of ¥538 million (compared with a loss of ¥174 million a year earlier).

(2) Analysis of Financial Condition

1) Assets, Liabilities, and Net Assets

Total assets as of June 30, 2020, the end of the first six months of fiscal 2020, amounted to

¥92,830 million, a decline of ¥6,513 million from the end of the previous fiscal year (December 31, 2019). The decrease mainly reflects an increase of ¥8,760 million in buildings and structures related to the handover of the newly completed Kimpton Shinjuku Tokyo hotel, which was offset by a decrease of ¥5,757 million from a transfer from construction in progress to buildings and structures, and a ¥10,382 million decrease in cash and deposits mainly due to capital investments and the impact of operating losses.

Total liabilities as of June 30, 2020, came to ¥62,520 million, an increase of ¥581 million from the end of the previous fiscal year. The increase mainly reflects an increase of ¥6,096 million in long-term debt mainly from capital investment financing and emergency loans, which was offset by decreases of ¥1,258 million in income taxes payable due to payment of income taxes, ¥2,038 million in accounts payable - trade, and ¥2,869 million in other current liabilities.

Net assets as of June 30, 2020, totaled ¥30,309 million, ¥7,094 million less than at the end of the previous fiscal year. The major changes are a ¥6,957 million reduction in retained earnings owing mainly to the posting of a quarterly net loss attributable to owners of the parent.

2) Cash flow

Cash and cash equivalents ("cash") at the end of the first half totaled ¥17,876 million, ¥10,382 million less than at the end of the previous fiscal year.

Cash flows and factors behind changes in the cash flows during the six months ended June 30, 2020, are as follows.

(Operating Cash Flow)

Cash used in operating activities totaled ¥9,471 million (cash provided in the first half of the previous year was ¥2,240 million). This is mainly attributable to ¥1,576 million in depreciation and amortization, which offset ¥8,587 million in loss before income taxes, and a ¥2,037 million decrease in notes and accounts payable - trade.

(Investing Cash Flow)

Cash used in investing activities totaled ¥6,666 million (cash used in the first half of the previous year was ¥3,964 million). This is mainly attributable to ¥6,507 in payments for purchase of tangible assets due to capital investments.

(Financing Cash Flow)

Cash provided by financing activities totaled ¥5,773 million, an increase of 34.9% from the previous fiscal year. This chiefly reflects ¥8,300 million in proceeds from long-term debt, which offset ¥2,806 million in repayments of long-term debt.

3

(3) Earnings Forecast for the Fiscal Year Ending December 31, 2020

As announced on May 8, 2020, the consolidated earnings forecast for the full fiscal year ending December 31, 2020 has been left undetermined. This is because the present uncertainty as to when the novel coronavirus outbreak will end means it is difficult to reasonably calculate the full-year consolidated earnings forecast figures at this time. The Group will continue to monitor trends relating to the outbreak and will announce its consolidated earnings forecasts when it becomes possible to calculate the forecast figures.

4

2. Quarterly Consolidated Financial Statements and Main Notes

1. Consolidated Balance Sheets

		(millions of yen)
	December 31, 2019	June 30, 2020
	Amount	Amount
Assets
Current assets
Cash and deposits	28,347	17,965
Accounts receivable - trade	1,259	385
Marketable securities	2,455	1,299
Merchandise	116	118
Raw materials and supplies	530	510
Other	1,389	2,005
Allowance for doubtful receivables	(22)	(24)
Total current assets	34,076	22,259
Fixed assets
Tangible assets
Buildings and structures, net	22,199	30,959
Land	9,574	10,945
Construction in progress	9,837	4,079
Other, net	1,909	2,009
Total tangible assets	43,520	47,995
Intangible assets
Goodwill	1,475	1,356
Other	195	624
Total intangible assets	1,670	1,981
Investments and other assets
Investment securities	6,721	5,565
Lease and guarantee deposits	8,451	8,258
Other	4,964	6,867
Allowance for doubtful receivables	(213)	(240)
Total investments and other assets	19,925	20,451
Total fixed assets	65,115	70,427
Deferred assets	151	143
Total assets	99,343	92,830

5

		(millions of yen)
	December 31, 2019	June 30, 2020
	Amount	Amount
Liabilities
Current liabilities
Accounts payable - trade	2,298	259
Short-term debt	-	852
Current portion of long-term debt	4,617	4,014
Current portion of bonds	668	668
Income taxes payable	1,275	17
Advances received	2,442	3,147
Other	6,557	3,688
Total current liabilities	17,859	12,647
Fixed liabilities
Bonds	5,157	4,823
Long-term debt	34,209	40,305
Net defined benefit liability	303	327
Provision for directors' retirement benefits	831	852
Asset retirement obligations	2,412	2,405
Other	1,167	1,160
Total fixed liabilities	44,080	49,873
Total liabilities	61,939	62,520
Net assets
Shareholders' equity
Capital stock	472	472
Capital surplus	634	634
Retained earnings	37,937	30,980
Treasury stock	(892)	(892)
Total shareholders' equity	38,151	31,193
Accumulated other comprehensive income
Net unrealized gain on available-for-sale securities	(72)	(104)
Deferred gain (loss) on derivatives under hedge	(504)	(533)
accounting
Foreign currency translation adjustments	(163)	(240)
Remeasurements of defined benefit plan	(5)	(5)
Total accumulated other comprehensive income	(747)	(884)
Total net assets	37,404	30,309
Total liabilities and net assets	99,343	92,830

6

1. Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income

		(millions of yen)
	Six months	Six months
	ended June 30,	ended June 30,
	2019	2020
	Amount	Amount
Net sales	29,071	11,793
Cost of sales	19,329	12,554
Gross profit (loss)	9,742	(760)
Selling, general and administrative expenses	7,480	6,979
Operating income (loss)	2,261	(7,740)
Non-operating income
Interest income	13	86
Gain on investments in silent partnership	73	73
Real estate rental income	175	16
Other	39	60
Total non-operating income	302	237
Non-operating expenses
Interest expenses	265	363
Loss on investments in marketable securities	-	162
Foreign exchange loss	117	76
Other	166	81
Total non-operating expenses	549	683
Ordinary income (loss)	2,014	(8,186)
Extraordinary Income
Gain on sales of fixed assets	23	0
Gain on sales of shares of subsidiaries	208	-
Gain on sales of investment securities	-	64
Total extraordinary gain	231	64
Extraordinary loss
Loss on disposal of fixed assets	5	6
Shop closing expenses	2	41
Loss on redemption of securities	12	-
Loss on valuation of investment securities	-	145
Loss on valuation of affiliated companies' shares	-	110
Provision of allowance for doubtful receivables	5	27
Other	0	134
Total extraordinary loss	25	465
Profit (loss) before income taxes	2,221	(8,587)
Income taxes	962	(1,868)
Profit (loss)	1,259	(6,719)
Profit (loss) attributable to non-controlling interests	(30)	-
Profit (loss)attributable to owners of the parent	1,289	(6,719)
7

Consolidated Statements of Comprehensive Income

		(millions of yen)
	Six months	Six months
	ended June 30,	ended June 30,
	2019	2020
	Amount	Amount
Profit (loss)	1,259	(6,719)
Other comprehensive income
Net unrealized gain (loss) on available-for-sale	32	(31)
securities
Deferred gain (loss) on derivatives under hedge	(282)	(28)
accounting
Foreign currency translation adjustments	(91)	(45)
Remeasurements of defined benefit plan	(1)	0
Share of other comprehensive income of entities	(30)	(31)
accounted for using equity method
Total other comprehensive income	(374)	(136)
Comprehensive income	885	(6,856)
(Breakdown)
Comprehensive income attributable to owners of the	915	(6,856)
parent
Comprehensive income attributable to non-	(30)	-
controlling interests

8

(3) Consolidated Statements of Cash Flows

			(millions of yen)
		Six months	Six months
		ended June 30,	ended June 30,
		2019	2020
		Amount	Amount
Cash flows from operating activities
Profit (loss) before income taxes	2,221	(8,547)
Depreciation and amortization	1,515	1,576
Impairment loss	-	54
Amortization of goodwill	133	135
Amortization of bond issuance expenses	9	8
Loss on disposal of fixed assets	5	6
Increase (decrease) in allowance for loss on shop	(15)	-
closing
Increase (decrease) in provision for directors'	26	20
retirement benefits
Increase (decrease) in allowance for doubtful	3	28
receivables
Increase (decrease) in net defined benefit liability	(2)	24
Interest and dividend income	(13)	(102)
Interest expenses	265	363
Share of loss (profit) of entities accounted for using	-	32
equity method
(Gain) loss on sales of shares of subsidiaries	(208)	-
(Gain ) loss on redemption of securities	12	-
(Gain) loss on investments in securities	-	162
(Gain) loss on sales of investment securities	-	(64)
(Gain) loss on valuation of investment securities	-	145
Loss on valuation of affiliated companies' shares	-	110
(Gain) loss on sales of fixed assets	(23)	(0)
Shop closing expenses	2	41
(Gain) loss on valuation of derivatives	(5)	(0)
(Gain) loss on investments in silent partnerships	(73)	(73)
Foreign exchange (gain) loss	116	97
(Increase) decrease in notes and accounts receivable	0	872
- trade
(Increase) decrease in inventories	19	18
Increase (decrease) in notes and accounts payable -	(269)	(2,037)
trade
Increase (decrease) in advances received	409	709
Increase (decrease) in other liabilities	(37)	(1,171)
Other	(128)	(319)
Sub total	3,964	(7,946)
9

Interest and dividends received	4	93
Interest paid	(259)	(365)
Income taxes paid	(1,468)	(1,253)
Net cash provided by (used in) operating activities	2,240	(9,471)

10

		(millions of yen)
	Six months	Six months
	ended June 30,	ended June 30,
	2019	2020
	Amount	Amount
Cash flows from investing activities
Purchase of tangible assets	(4,835)	(6,507)
Proceeds from sales of tangible assets	24	0
Purchase of intangible assets	(42)	(482)
Proceeds from sales of investment securities	110	215
Proceeds from withdrawal of investment in silent	36	36
partnership
Loans receivable	(13)	(35)
Lease and guarantee deposits	(39)	(5)
Collection of lease and guarantee deposits	47	137
Proceeds from sales of shares of subsidiaries resulting	771	-
in change in scope of consolidation
Other	(24)	(26)
Net cash provided by (used in) investing activities	(3,964)	(6,666)
Cash flows from financing activities
Net increase (decrease) in short-term debt	-	852
Proceeds from long-term debt	5,800	8,300
Repayments of long-term debt	(1,654)	(2,806)
Proceeds from issuance of bonds	1,195	-
Payments for redemption of bonds	(295)	(334)
Repayments to non-controlling interests	(525)	-
Dividends paid to shareholders	(238)	(238)
Net cash provided by (used in) financing activities	4,281	5,773

Foreign currency translation adjustments on cash and cash equivalents

Net increase (decrease) in cash and cash equivalents

(74)(17)

2,482(10,382)

Cash and cash equivalents, beginning of period	24,117	28,259
Cash and cash equivalents, end of period	26,600	17,876

11

1. Notes on Quarterly Consolidated Financial Statements (Note on the Going-concern Assumption)
   Not applicable

(Note on Significant Changes in the Amount of Shareholders' Equity)

Not applicable

(Application of Specific Accounting Methods for the Preparation of Quarterly Financial Statements)

(Simplified accounting methods)

1) Calculation method for depreciation of fixed assets

Depreciation expenses for assets to which the declining-balance method is applied are calculated by allocating a quarterly proportion of the amount for the full fiscal year.

2) Calculation method for deferred tax assets and deferred tax liabilities

Regarding judgments on the amount of recoverable deferred tax assets, the Company has determined that there have been no significant changes in the economic environment or emergence of temporary differences since the end of the previous fiscal year, and therefore the calculations are based on future earnings forecasts from the previous year and tax planning methods.

(Special accounting treatments)

Calculation of taxes

The Company calculates tax liabilities by producing a reasonable estimate of the effective tax rate after applying tax-effect accounting to income before income taxes for the fiscal year, which encompasses the second quarter ended June 30, 2020, and then multiplying profit (loss) before income taxes by this estimated effective tax rate. In cases where this estimated effective tax rate cannot be used, the statutory effective tax rate is used.

(Additional Information)

Although it is difficult to predict at this time when the novel coronavirus outbreak will be contained, the Group has made accounting estimates including judgments on the recoverability of deferred tax assets and the impairment of fixed assets, on the assumption that the wedding business, the Group's mainstay business, will gradually recover its number of customers and orders received from the fourth quarter (around October) of the current fiscal year, and that the occupancy rate of the hotel business will gradually recover from the second quarter (around April) of the following fiscal year.

However, given the many uncertainties surrounding the impact of the novel coronavirus outbreak, the Group's financial position and the operating results for the fiscal year ending December 31, 2021 could be significantly affected, in the event that social and economic activities stall due to further spread of infections.

12

(Segment Information)

[Segment Information]

I. Six months ended June 30, 2019 (January 1 to June 30, 2019) 1. Net sales and income/loss by reportable segment

						(millions of yen)
		Reportable segment
						Amount
	Wedding	Hotel	W&R		Adjustments	recorded on
	Total	consolidated
	business	business	business	(note 1)
		statements of
						income (note 2)
Net sales
Sales to outside	18,378	8,745	1,947	29,071	-	29,071
customers
Inter-segment sales	753	156	5	915	(915)	-
and transfers
Total	19,132	8,901	1,953	29,987	(915)	29,071
Segment income (loss)	2,943	328	(174)	3,097	(835)	2,261

Notes:	1. Minus 835 million yen adjustments for the segment income or loss include 65 million yen
	elimination of inter-segment sales and minus 901 million yen corporate expenses that are not
	allocated to each reportable segment. The main component of these unallocated corporate
	expenses is SG&A expenses that are not attributable to reportable segments.

2. Segment income or loss adjustments are based on operating income reported on the quarterly consolidated statements of income for the corresponding period.

2. Impairment loss on fixed assets or goodwill by reportable segment Not applicable.

13

1. Six months ended June 30, 2020 (January 1 to June 30, 2020)

1. Net sales and income/loss by reportable segment

						(millions of yen)
		Reportable segment
						Amount
	Wedding	Hotel	W&R		Adjustments	recorded on
	Total	consolidated
	business	business	business	(note 1)
		statements of
						income (note 2)
Net sales
Sales to outside	7,160	3,492	1,139	11,793	-	11,793
customers
Inter-segment sales	324	72	5	402	(402)	-
and transfers
Total	7,485	3,565	1,144	12,196	(402)	11,793
Segment income (loss)	(3,464)	(2,863)	(538)	(6,866)	(873)	(7,740)

Notes:	1. Minus 873 million yen adjustments for the segment income or loss include 56 million yen
	elimination of inter-segment sales and minus 930 million yen corporate expenses that are not
	allocated to each reportable segment. The main component of these unallocated corporate
	expenses is SG&A expenses that are not attributable to reportable segments.

2. Segment income or loss adjustments are based on operating income reported on the quarterly consolidated statements of income for the corresponding period.

2. Impairment loss on fixed assets or goodwill by reportable segment

(Significant impairment loss on fixed assets)

As decreased profitability has remained in some fixed assets held in the "Wedding business" segment, the Company has concluded that the recovery of the investment in these assets could not likely be made during the course of the first six months of the fiscal year ending December 31, 2020. Hence, the book value of these assets has been written down to the recoverable amount, and the resulting loss of 54 million yen has been reported as impairment loss under the extraordinary loss.

14

(Significant Subsequent Events)

(Change in Specified Subsidiary)

A sub-subsidiary of the Company based in the state of Delaware in the United States, which was established on July 1, 2020, by US subsidiary, Best Bridal Hawaii, Inc. has become a specified subsidiary, as the Company' investment in said company has reached 10 percent or more of the stated capital of the Company.

(1) Purpose for the establishment of the sub-subsidiary

Best Bridal Hawaii, Inc., the Company's US subsidiary, has established a sub-subsidiary for the purpose of acquiring and managing real estate in the US.

(2) Profile of the specific subsidiary

1) Name:	TGU LLC
2) Address:	251 Little Falls Dr., New Castle County, Wilmington, DE 19808
3) Representative:	Masayuki Tsukada, Manager
4) Business description:	Acquisition and management of real estate in the United States
5) Capital:	US$6,277,658
6) Date of establishment: July 1, 2020
7) Investment ratio:	100.0% (indirectly held)

3. Supplementary Information (Weddings Held and Orders Received)

1. Number of weddings held

		Six months ended	Six months ended	Year ended
		June 30, 2019	June 30, 2020	December 31, 2019
Segment		Number of weddings	Number of weddings	Number of weddings
	held (cases)	held (cases)	held (cases)
Wedding business			5,909			2,141		12,385
Hotel business			788			283		1,611
Total			6,697			2,424		13,966
2) Wedding orders received
		Six months ended		Six months ended	Year ended
		June 30, 2019		June 30, 2020	December 31, 2019
		Orders	Order		Orders	Order	Orders	Order
Segment		received	backlog		received	backlog	received	backlog
		(cases)	(cases)		(cases)	(cases)	(cases)	(cases)
Wedding business		6,826	8,036		2,453	6,830	11,784	6,518
Hotel business		877	1,268		459	1,207	1,463	1,031
Total		7,703	9,304		2,912	8,037	13,247	7,549

15