#BellunaCoLtd

Consolidated group sales for January 2026 were JPY 15,554 million, a 10% increase year-over-year, driven by growth in the hotel and wine businesses.

As of March 31, 2026, the largest major shareholder will be transferred from Friend Stage Asset Management Co., Ltd. to the surviving company Friend Stage Co., Ltd., with a total of 41,383,714 voting rights (43.02%).

Group consolidated sales for December 2025 were 24,702 million yen, a 4% increase year-over-year. The hotel business grew 45% year-over-year despite earthquake impacts and reduced tourism, driven by effects from newly acquired hotels.