During the first quarter of the current consolidated cumulative period, the Japanese economy as a whole remained on a gradual recovery trend due to the effects of various government policies, including improvements in corporate profits, the employment and income environment, and the transformation from a cost-cutting economy to a growth-oriented economy. Ta. However, the outlook remains uncertain due to rapid fluctuations in foreign exchange rates due to global monetary tightening and increases in consumer prices, including energy costs and raw material prices.
　In this environment, our group strives to create new value in the bridal market, hotel market, and wellness and relaxation (W&R) market, create high-quality and attractive stores, and provide high-value-added services to diversify. We have strived to expand sales and improve profitability by accurately responding to the needs of our customers.
　In the hotel business, the number of domestic tourists will increase and the number of foreign visitors to Japan will reach 3 million in March 2024 for the first time in a single month (Japan National Tourism Organization "Number of foreign visitors to Japan (estimated for March 2024)") This was an 11.6% increase compared to the same month in 2019, and due to these factors, the accommodation occupancy rate and unit price increased, and the situation remained stable overall. In addition, the unit price for weddings in the wedding business and hotel business has been recovering slowly, although recovery has been slow. In the W&R business, we worked to strengthen our future earnings base by closing unprofitable stores whose recovery from the coronavirus pandemic has been delayed and by improving business efficiency.