Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the original shall prevail.

Summary of Non-consolidated Financial Results
for the Year Ended July 31, 2024
[Based on Japanese GAAP]
September 12, 2024
Company name: SILVER LIFE CO., LTD.
Listing: Tokyo
Securities code: 9262
URL: https://www.silver-life.co.jp/
Representative: Takahisa Shimizu
President, CEO
Inquiries: Hirokazu Masuyama
Director, Administration Manager
Telephone: +81-03)6300-5629
Scheduled date of annual general meeting of shareholders: October 29, 2024
Scheduled date to commence dividend payments: October 30, 2024
Scheduled date to file annual securities report: October 30, 2024
Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: Yes(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Non-consolidated Financial Results for the Fiscal Year Ended July 31, 2024 (August 1, 2023 to July 31, 2024)(1) Non-consolidated Operating Results(Percentages indicate year-on-year changes.)
Net sales
Fiscal year ended
July 31, 2024
July 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

13,555
12,266

10.5
9.4

768
670

14.7
19.3

965
857

12.6
20.9

668
602

10.9
49.9

Basic earnings per Diluted earnings per Rate of return on
share
shareequity

Ordinary profit tototal assets ratio

Yen
Yen%
Fiscal year ended
July 31, 2024
61.58
61.02
10.8
July 31, 2023
55.74
55.02
10.7
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended July 31, 2024:
Fiscal year ended July 31, 2023:

Operating profit tonet sales ratio

%%

9.9
9.3
¥
¥

5.7
5.5
- million- million(2) Non-consolidated Financial Position
Total assets
As ofJuly 31, 2024
July 31, 2023
(Reference) Equity:

Net assets

Millions of yen

Millions of yen

9,875
9,562
As of July 31, 2024:
As of July 31, 2023:

Capital adequacy ratio

¥¥

6,423
5,916
6,423 million
5,916 million

Net assets per share%Yen

65.1
61.9

591.51545.65(3) Non-consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
July 31, 2024
July 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

1,315
1,201

(1,157)
(937)

(400)
(230)

1,265
1,507

―1―2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end
Fiscal year ended

Year-end

Total
dividends

Total

Yen

Yen

Yen

Yen

July 31, 2023

-0.00

-

15.00

15.00

July 31, 2024

-

0.00

-

15.00

15.00

-

0.00

-

16.00

16.00

Dividends
to netassetsPayoutratio

Yen Millions of yen%

%

162

26.9

2.9

162

24.4

2.6

Fiscal year ending
July 31, 2025

24.8

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended July 31, 2024 :Commemorative dividend- yenSpecial dividend- yen
3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending July 31, 2025 (August 1, 2024 to July 31, 2025)(Percentages indicate year-on-year changes.)
Net sales

Six months ending January
31, 2025
Full year

Operating profit

Ordinary profit

Basic earnings pershare

Net income

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

7,080

5.5330(32.8)

420(27.9)285(21.1)

26.27

14,500

7.0

850

10.6

1,030

6.7

700

4.8

64.53

* Notes:(1) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None
4) Restatement: None
(2) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
July 31, 2024:
10,860,400 shares
July 31, 2023:
10,842,800 shares
2) Number of treasury shares at the end of the period:
July 31, 2024:
422 shares
July 31, 2023:
422 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended July 31, 2024:
Fiscal Year ended July 31, 2023:

10,848,052 shares
10,811,156 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
* Proper use of earnings forecasts, and other special matters―2―Non-consolidated Financial Statements
Non-consolidated Balance Sheets(Thousands of yen)
As of July 31, 2024

As of July 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

1,507,524
1,138,985

1,265,092
1,296,993

Merchandise and finished goods
Raw materials and supplies

420,316
45,642417,266
112,768

Prepaid expenses
Accounts receivable - other58,071
381,663

87,367403,401

Other
Allowance for doubtful accounts

106,139(78,858)

116,397(113,567)

3,579,485

3,585,719

3,733,475

4,065,599

Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation(697,423)(957,667)

Buildings, net

3,036,051

3,107,932

206,896

207,146

Structures
Accumulated depreciation(38,794)(55,717)Structures, net

168,101

151,429

Machinery and equipment

2,366,110

2,805,655

Accumulated depreciation(944,782)(1,251,861)

Machinery and equipment, net

1,421,328

1,553,794

34,260(17,087)

110,537(39,696)

17,172

70,840201,290(115,202)

240,964(143,592)

VehiclesAccumulated depreciation
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

86,08897,371575,900
3,276

649,211
3,276

Accumulated depreciation(764)(1,419)Leased assets, net

2,511

1,856

Land
Leased assets

Construction in progress
Total property, plant and equipment

52,08576,9325,359,240

5,709,367

1,168
366,997343
345,846

Intangible assets
Trademark right
SoftwareOther

31,513

10,326

Total intangible assets

399,679

356,517Long-term loans receivable
Distressed receivables

46,367
1,066

37,601
1,066

Long-term prepaid expenses
Deferred tax assets

28,427
105,370

30,904103,459

Other
Allowance for doubtful accounts

57,139(14,278)

64,457(14,019)

Investments and other assets

Total investments and other assets
Total non-current assets
Total assets―3―

224,092

223,470

5,983,012

6,289,355

9,562,497

9,875,074

(Thousands of yen)
As of July 31, 2023

As of July 31, 2024

Liabilities
Current liabilities
Accounts payable - trade
Current portion of long-term borrowings

591,357
239,400

648,335
239,400

Accounts payable - otherAccrued expenses

564,476
31,383590,305
40,985

Income taxes payable
Deposits received

173,545
17,797

168,523
18,336

Provision for shareholder benefit program
Contract liabilities

57,923
8,681

21,826
5,956

Lease liabilities
Other

720
67,497

720
84,215

1,752,782

1,818,605

1,712,050
2,042

1,472,650
1,321

163,290
12,927

149,901
5,571

3,210

3,210

1,893,520

1,632,6543,646,302

3,451,259

730,286

731,387

Legal capital surplus

720,286

721,387

Total capital surplus

720,286

721,387

Other retained earnings
Retained earnings brought forward

4,466,578

4,971,996

Total retained earnings

4,466,578

4,971,996

(956)

(956)

5,916,194

6,423,815

5,916,194

6,423,815

9,562,497

9,875,074

Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Guarantee deposits received
Long term contract liabilities
OtherTotal non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus

Retained earnings

Treasury shares
Total shareholders' equity
Total net assets
Total liabilities and net assets―4―Non-consolidated Statements of Income(Thousands of yen)
For the fiscal year
ended July 31, 2023
Net sales
Cost of sales
Beginning inventory of merchandise and finished
goods
Cost of products manufactured

For the fiscal year
ended July 31, 2024

12,266,758

13,555,288

287,792

420,316

5,519,832

6,319,884

Cost of purchased goods

3,173,034

2,867,178

Total8,980,659

9,607,380

420,316

417,266

Ending inventory of merchandise and finished goods
Total cost of sales

8,560,343

9,190,113

3,706,414

4,365,174

Salaries and allowances
Freight costs

331,624
718,631414,939
950,035

Depreciation
Outsourcing expenses

218,380
122,928

298,500
135,840

Advertising expenses
Bad debt expenses

481,081
2,362

491,969
7,704

Provision of allowance for doubtful accounts
Provision for shareholder benefit program

20,92925,05543,605-Other

1,115,268

1,254,170

Total selling, general and administrative expenses3,036,262

3,596,766

670,152

768,408

Gross profit
Selling, general and administrative expenses

Operating profit
Non-operating income
Interest income

12,853

11,680Compensation income
Commission income

165,890
33,364

170,959
35,167

Other

17,52026,225

Total non-operating income

229,629

244,032

Non-operating expenses
Interest expenses

4,456

4,717

Rental expenses
Depreciation

18,19812,25927,1703,483

Bad debt expenses
Provision of allowance for doubtful accounts

3,368
1,532

5,376
4,702

Other

2,118

1,461

Total non-operating expensesOrdinary profit
Extraordinary losses
Loss on retirement of non-current assets
Other41,933

46,910857,848965,529

1,320

9,108

-500

1,320

9,608

Profit before income taxes

856,528

955,920

Income taxes - current
Income taxes - deferred

267,195(13,238)

285,956
1,910

Total income taxes

253,956

287,867

Profit

602,571

668,053

Total extraordinary losses―5―Non-consolidated Statements of Changes in Equity
For the fiscal year ended July 31, 2023
(Thousands of yen)
Shareholders' equity
Capital surplus

Balance at beginningof periodChanges during
periodIssuance of newshares - exercise ofshare acquisitionrightsPurchase oftreasury shares
Dividends ofsurplusProfitTotal changes
during period
Balance at end ofperiod

Retained earnings
Otherretainedearnings
Total
Total capitalretained
Retained
surplusearnings
earnings
brought
forwardSharecapitalLegalcapitalsurplus725,645715,645715,645

4,640

4,640

4,640

3,864,006

3,864,006

Total net
Total
Treasury
assetsshareholders
shares' equity(919) 5,304,378

5,304,378

9,281

9,281

(36)

(36)

--

602,571

602,571

611,816

611,816(956) 5,916,194

5,916,194(36)

602,571

602,571

4,640

4,640

4,640

602,571

602,571

730,286

720,286

720,286

4,466,578

4,466,578(36)

For the fiscal year ended July 31, 2024
(Thousands of yen)
Shareholders' equity
Capital surplus

Balance at beginningof period
Changes during
periodIssuance of newshares - exercise ofshare acquisitionrightsPurchase oftreasury shares
Dividends ofsurplus
ProfitTotal changes
during period
Balance at end ofperiod

Retained earnings
Otherretainedearnings
Total
Total capitalretained
Retained
surplusearnings
earnings
brought
forwardSharecapitalLegalcapitalsurplus730,286

720,286

720,286

1,101

1,101

1,101

4,466,578

4,466,578

Total net
Total
Treasury
assetsshareholders
shares' equity(956) 5,916,194

5,916,194

2,203

2,203

-

-

(162,635)(162,635)(162,635)(162,635)

668,053

668,053

668,053

668,053507,620507,620(956) 6,423,815

6,423,815

1,101

1,101

1,101

505,417505,417731,387

721,387

721,387

4,971,996

4,971,996―6―-

Non-consolidated Statements of Cash Flows(Thousands of yen)
For the fiscal year
ended July 31, 2023
Cash flows from operating activities
Profit before income taxes

For the fiscal year
ended July 31, 2024

856,528

955,920

Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for shareholder
benefit program
Interest and dividend income

689,725
19,765

797,865
34,449(3,604)(36,097)(12,853)(11,680)

Interest expenses
Loss on retirement of property, plant and equipment

4,456
1,320

4,717
8,029

Loss on retirement of intangible assets
Decrease (increase) in trade receivables(119,846)

1,079(158,007)

Decrease (increase) in inventories
Increase (decrease) in trade payables(150,112)
20,440(64,075)
56,978

Increase (decrease) in accrued consumption taxes
Increase (decrease) in contract liabilities

43,242(10,971)

11,799(10,081)

Other, net

12,401

9,611

Subtotal

1,350,491

1,600,508

12,853

11,680Interest paid
Income taxes paid

(4,400)(157,515)(4,861)(292,069)

Net cash provided by (used in) operating activities

1,201,428

1,315,257

Purchase of property, plant and equipment
Purchase of intangible assets(787,429)(171,387)(1,074,228)(88,898)

Loan advances
Proceeds from collection of loans receivable(8,574)
12,580(3,618)12,389Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Refund of guarantee deposits received(1,249)(2,737)

13,372

1,345(8,000)(6,800)

Guarantee deposits received
Purchase of other investments

18,470(5,655)

11,337(5,927)(937,873)(1,157,136)(239,400)
9,281(239,400)
2,203

(36)
-(162,635)

Interest and dividends received

Cash flows from investing activities

Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Proceeds from exercise of employee share options
Purchase of treasury shares
Dividends paid
Repayments of lease liabilities
Net cash provided by (used in) financing activities

(720)

(720)

(230,876)(400,553)

Net increase (decrease) in cash and cash equivalents

32,679(242,431)

Cash and cash equivalents at beginning of period

1,474,844

1,507,524

Cash and cash equivalents at end of period

1,507,524

1,265,092―7―