KURAUDIA HOLDINGS CO.,LTD.

Business Details

Under the holding company Claudia Holdings, the group operates two divisions: the Wholesale Business division (planning, manufacturing, wholesale, and rental of bridal costumes) and the Consumer Business division (costume sales/rental, resort wedding production, photography/video/beauty, and wedding venue operations). The Consumer Business division accounts for approximately 79% of net sales, and the group is pursuing a strategic shift toward the B-to-C domain. It has production and sales bases both domestically and overseas (the United States, Vietnam, China, etc.).

Recent Overview

Cumulative Q3 operating profit rose sharply by 55.5%, with the newly opened Tokyo Daijingu Daijingu Kaikan contributing for the first time

Net sales for the cumulative nine months of FY2026 (ending August 2026) (September 2025 to May 2026) were ¥11,148 million (up 3.5% year on year), and operating profit was ¥1,142 million (up 55.5% year on year). The main driver of the profit increase was growth in low-cost-ratio revenue streams—costume handling revenue (¥2,814 million, up 3.7% year on year) and wedding venue operations revenue (¥3,035 million, up 8.8% year on year)—such that cost of sales did not increase proportionally with the rise in net sales. The company newly opened "Tokyo Daijingu Daijingu Kaikan" in April 2026 and is focusing on securing bookings. The Resort Wedding Business continued to struggle, with sales of ¥1,142 million (down 6.4% year on year). The full-year earnings forecast remains unchanged (net sales of ¥14,300 million, operating profit of ¥450 million).

Key Products

Growth Drivers

• Continued growth in wedding venue operations revenue (cumulative nine-month figure of ¥3,035 million, up 8.8% year on year) and the new expansion into the Shinto-style wedding ceremony business through the April 2026 opening of "Tokyo Daijingu Daijingu Kaikan"
• Stable growth in costume handling revenue (cumulative nine-month figure of ¥2,814 million, up 3.7% year on year) and margin improvement driven by an increasing proportion of low-cost-ratio service-related sales
• Increased rental revenue and other income in the Wholesale Business (cumulative nine-month figure of ¥1,430 million, up 5.2% year on year)
• Enhanced overseas brand recognition following the flagship brand "KIYOKO HATA"'s first-ever participation in the official fashion show of Barcelona Bridal Fashion Week (BBFW)
• A gradual recovery trend in personal consumption, including inbound demand

Risks

• Continued decline in sales at the Resort Wedding Business (cumulative nine-month figure of ¥1,142 million, down 6.4% year on year)
• Cost increases driven by the yen's depreciation (impact on raw material and manufacturing costs) and rising interest expenses (cumulative nine-month figure of ¥54 million, up 23.0% year on year)
• Risk of seasonal concentration of sales and profit in the wedding seasons (Q1 and Q3: September–November and March–May)
• Impact on personal consumption from factors such as escalating tensions in the Middle East
• Increased selling, general and administrative expenses associated with new openings such as "Tokyo Daijingu Daijingu Kaikan" (cumulative nine-month figure of ¥7,744 million)
• High degree of seasonal fluctuation, with cumulative nine-month operating profit of ¥1,142 million already exceeding the full-year forecast of ¥450 million, implying a substantial loss is expected in the fourth quarter (off-peak season)