Declining Number of Marriages and Structural Changes in the Wedding Market

「However, because the number of wedding ceremonies held declined, net sales for the first quarter of the current consolidated cumulative period were ¥865,308 thousand, down 9.7% year on year, and segment loss was ¥203,141 thousand.」

「In China, demand for weddings stagnated and the number of ceremonies held declined because of economic conditions and weakening consumer sentiment among younger people. Combined with intensified price competition, the average revenue per ceremony also declined, and both sales and segment profit in China were below those of the previous consolidated fiscal year.」

「In Japan, the Group sought to expand future customer touchpoints by holding various events at wedding venues. For weddings, it sought to increase average prices by providing high-value-added services and improve profitability by reducing costs. However, revenue was below that of the previous interim consolidated accounting period due to a decline in the number of weddings held. In China, both the average price per wedding and the number of weddings held declined, resulting in revenue well below that of the previous interim consolidated accounting period.」

「According to the Ministry of Health, Labour and Welfare's Vital Statistics for 2023, the number of marriages in 2023 was approximately 470,000, a decrease of approximately 30,000 from the previous year.」

「In Japan, although the average price per wedding continued to recover, the decline in the number of weddings held due to fewer bookings resulted in revenue below that of the previous interim consolidated accounting period. The number of weddings in the order backlog at the end of the interim consolidated accounting period was 1,057, down 14.2% from the end of the previous interim consolidated accounting period.」

「According to the Ministry of Health, Labour and Welfare's Vital Statistics for 2023, the number of marriages in 2022 was approximately 500,000, broadly unchanged from the previous year.」

「In Japan, the number of weddings held declined from the same quarter of the previous year. Meanwhile, the average price per wedding was recovering. The number of weddings in the order backlog at the end of the third quarter was 1,099, down 9.3% from the end of the same quarter of the previous year.」

「In the domestic wedding business, the number of weddings held declined from the same quarter of the previous year, while spending per wedding showed signs of recovery. Revenue for the first six months of the current fiscal year was ¥2,315,792 thousand, up 15.9% year on year, partly due to the opening of a new facility by the Chinese subsidiary in September of the previous year. The number of weddings booked but not yet held at the end of the second quarter was 1,232, down 10.7% from the end of the same quarter of the previous year.」

「In the wedding business, the number of weddings held in Japan declined from the same quarter of the previous year, but the average price per wedding was recovering. With the opening of a new facility at the Chinese subsidiary in September last year, revenue for the cumulative first quarter was ¥1,228,776 thousand, up 7.3% year on year.」

「According to the Ministry of Health, Labour and Welfare's Annual Preliminary Report of Vital Statistics for 2022, the number of marriages in 2021 was approximately 500,000, a decrease of approximately 24,000 from the previous year.」

「According to the Ministry of Health, Labour and Welfare's Annual Preliminary Report of Vital Statistics for 2020, the number of marriages in 2020 was approximately 530,000, a decrease of approximately 170,000 over the past 10 years. If the population of marriageable age and the number of marriages continue to decline, this could affect the financial position and operating results of the Group.」

「The number of marriages in 2019 was approximately 600,000, a decrease of approximately 100,000 over the past 10 years. If the population of marriageable age and the number of marriages continue to decline, this could affect the financial position and operating results of the Group.」

「In the wedding industry, the number of marriages has continued to decline due to the decreasing population reaching marriageable age as a result of the declining birth rate, the rise in the unmarried population and other factors (Ministry of Health, Labour and Welfare, Annual Preliminary Report of Vital Statistics for 2018), while the market size has remained broadly flat at around ¥1.4 trillion (Yano Research Institute, Survey of the Bridal Market 2018).」

「Against this backdrop, the Group worked to review the content of its advertising and bridal fairs and provide new services for producing wedding ceremonies and receptions. In addition, the opening of a wedding venue by its Chinese subsidiary in March 2019 resulted in revenue from the wedding business for the first six months of the current fiscal year of ¥2,221,037 thousand, up 3.4% year on year. However, segment profit was ¥20,042 thousand, down 61.7%, due to selling, general and administrative expenses, including personnel, advertising and promotional, and consumables expenses incurred in advance in connection with the venue opening by the Chinese subsidiary.」

「Due to a decline in the number of weddings held as a result of competitive pressure from new openings and renovations by peer companies, an increase in small-scale weddings that drove down spending per wedding, and depreciation expenses related to Neos Mirabell, which reopened after renovation in August 2017, among other factors, revenue from the wedding business for the first nine months of the current fiscal year was ¥3,548,704 thousand, down 12.3% year on year, while segment profit was ¥333,506 thousand, down 53.7%.」

「Against this backdrop, the Group worked to review the content of its advertising and bridal fairs and provide new services for producing wedding ceremonies and receptions. However, due to a decline in the number of weddings held as a result of competitive pressure from new openings and renovations by peer companies, an increase in small-scale weddings that drove down spending per wedding, and depreciation expenses related to Neos Mirabell, which reopened after renovation in August 2017, among other factors, revenue from the wedding business for the first six months of the current fiscal year was ¥2,147,981 thousand, down 9.4% year on year, while segment profit was ¥52,348 thousand, down 78.5%.」

「Due to a decline in the number of weddings held as a result of competitive pressure from new openings and renovations by peer companies, an increase in small-scale weddings that drove down spending per wedding, and depreciation expenses related to Neos Mirabell, which reopened after renovation in August 2017, among other factors, revenue from the wedding business for the first quarter of the current fiscal year was ¥1,173,178 thousand, down 3.4% year on year, while segment profit was ¥116,379 thousand, down 34.2%.」

「Although the number of weddings held fell short of expectations, the increase in small weddings, which lowered the average price per wedding, and investment expenses related to the acquired wedding venue Neos Mirabelle, which reopened after renovation on 5 August 2017, resulted in cumulative nine-month wedding business revenue of ¥4,046,052 thousand, up 4.9% year on year, and segment profit of ¥720,234 thousand, down 18.5% year on year.」

「Due to an increase in the number of small weddings held and investments made in connection with the acquired wedding venue Neos Mirabelle, which reopened after renovation on 5 August 2017, wedding business revenue for the cumulative second quarter was ¥2,369,846 thousand, down 0.5% year on year, and segment profit was ¥243,205 thousand, down 47.3% year on year.」

「Due to an increase in the number of small weddings held and investments made in connection with the acquired wedding venue Neos Mirabelle, scheduled to reopen after renovation on 5 August 2017, wedding business revenue for the cumulative first quarter was ¥1,214,931 thousand, down 5.9% year on year, and segment profit was ¥176,810 thousand, down 40.3% year on year.」

「The number of marriages has continued to decline due to the decreasing population reaching marriageable age as a result of the declining birth rate, the rise in the unmarried population and other factors, while the market size has remained broadly flat at around ¥1.4 trillion」

「The number of marriages has continued to decline due to the decreasing population reaching marriageable age as a result of the declining birth rate, the rise in the unmarried population and other factors (Ministry of Health, Labour and Welfare, Annual Preliminary Report of Vital Statistics for 2015), while the market size has remained broadly flat at around ¥1.4 trillion (Yano Research Institute, Survey of the Bridal Market 2016).」

「The number of marriages has continued to decline due to the decreasing population reaching marriageable age as a result of the declining birth rate, the rise in the unmarried population and other factors」

「The number of marriages has continued to decline due to the decreasing population reaching marriageable age as a result of the declining birth rate, the rise in the unmarried population and other factors」