Financial Results for the 3rd Quarterof Fiscal Year Ending July 31, 2024
SILVER LIFE CO., LTD.
The Standard Market of the Tokyo Stock Exchange (9262）

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Started handling from May
Frozen bento with rice

Fiscal Year Ending July 2024
3 rd Quarter Performance Highlights

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Fiscal Year Ending July 2024 Q3 Performance （vs YoY ）Net sales
Gross profit
Operating profit+11.5%+18.6％

Increase in all sales categories, with a moderate recovery in the main business of franchise stores.
Profitability improved due to internalization of in-house production, but costs are ahead of schedule as thecompany prepares to “raise the internalization ratio from 60% to 80% from Q4.
+20.5%
Freight costs increased due to in-house production of logistics, but gross profit improvement was
greater and operating margin improved.

FY2024 Q3Unit : million
yen

FY2023 Q3ActualVs.
FY2023Q3results

10,058+11.5%

-

76.8%

9,022

-

13,100-3,226+18.6%

32.1%

79.5%

2,720

30.1%

4,060

31.0%

Operatingprofit667+20.5%

6.6%

87.9%

554

6.1%

760

5.8%

Ordinary
profit822＋17.7%

8.2%

86.6%

698

7.7%

950

7.3%

Profit506＋15.9%

5.0%

81.7%

437

4.8%

620

4.7%

Net salesGrossprofit

Sales
ratio

Plan
Progressrate

Results

FY2024 Plan

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Sales
ratio

Plan

Sales
ratio

-3-

Sales per Category
Vs. FY2023 Q3

Franchise chains
Sales Unit : million yen
2,178

2,114

2,165

2,194

2,215

Sales ： Gradual recovery

2,064

Price revision in September 2023 (3% price increase) to maintain YoY growth
Successful sales taking over withdrawn stores through external M&A sites Existing
stores sales YoY: 109.2%*1

FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3

Number of Stores
978

975

964

970

958

948

953

73
352

85
342

95
335

107
326

107
317

110
311

120
310

553

548

534

537

534

527

523

FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3
Takushoku Life+ 4.2%

2,216

Haishokuno Fureai

Magokoro Bento

85% of food sales to franchisees are regular meals, 15% are special meals*2Salesof regular meals are in the 500-yen range at stores and continue to grow(+6.0%)Sales of special meals will be in the 700-yen range at stores, and will
decrease (-6.7%).
→Price reductions are scheduled in the next fiscal year due to a change in thepacking format upon arrival at stores.
Number of stores ： 953 stores, with a continued back-and-forth between exits
and withdrawals.
Started on-demand delivery of franchise information meetings as a store opening
measure.
Started using an external M&A site as a measure for exiting franchisees.

※1 Comparison between stores that existed in both the previous fiscal year and this fiscal year, excluding storesthat were withdrawn.
※2

Special diets include carbohydrate calorie adjusted meals, protein adjusted meals, and mousse meals.

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

-4-

Sales per Category
Unit:million yen

Facilities
for theelderly

322

323

329

350

359

374

395

Vs. FY2023 Q３+ 15.9%Chilled products maintained, frozen products
increased
Demand for fully cooked products for facilities isstrong due to labor shortage.
In addition to sales to facilities for the elderly,
sales to facilities for the disabled were also strong.
Frozen: 60.4% of division sales
Chilled: 39.6% of division sales

FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3

Unit:million yen
DirectSales/
Others

802
728

514

562

764

735

613

Vs. FY2023 Q３+ 36.2%

FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Direct sales:Decreased as planned (see p. 9 fordetails)
Q2 Decreased as planned; price increase of 4%
resulted in a greater-than-expected decrease inboth the number of meals and sales.
Q3 Decreased as planned, but sales are
expected to recover in the next fiscal year due
to a 10-15% price cut and a significant increasein the number of meals served. 66.2 % of sales
with in the division
OEM:Increase, 29.6% of sales with in thedivision
Warehousing: Stable, 4.3% of sales with in thedivision-5-Change Analysis of Sales（ Increased in all sectors, key word being labor shortage ）＋11.5％ YoY
Sales to franchise stores recovered moderately due to price revisions +3% and strengthened acquisitions of stores withdrawing from franchising, despite
headwinds from the shortage of store delivery personnel.→A number of stores intentionally reduced the number of meals to within their delivery capacity byrefusing orders or raising prices because they were unable to hire delivery personnel.
Sales of pre-prepared food ingredient packs to institutional customers increased continuously since Q1 of the previous fiscal year, driven by a shortage of
cooks at institutional facilities.
Direct sales and others increased mainly in frozen bento and OEM, where business is viable even without delivery staff(Unit : million yen)

FY23 Q3

FC Food Sales

FC Loyalties
etc.
Facilities for the
Elderly

FY24 Q3

9,022
Strengthening sales to transfer customers of 964 stores in Q3 oflast fiscal year → 953 stores in Q3 of this fiscal year, a step up
and a step down
Existing stores: 109.2% YoY

269

154
612
10,058Chilled food ingredients maintain certain level of sales
Demand for frozen food ingredients continues to grow(157.3% year-on-year for frozen food ingredients alone).
Direct sales prices fell 10-15% from February, but increased
129.1% YoY
OEM sales to existing customers increased Warehousingbusiness generally steady despite customer comings and goings

YoY Change

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

+ 1,036million yen-6-Change Analysis of Gross Profit（ Decrease in cost of sales due to in-house production ）Sales increased by 18.6% and gross profit margin improved by 1.9%.
The shift to in-house production (from 40% to 60%), which started in October 2022, has run its course and stabilized the
production site.However, costs increased in Q3 due to advance procurement in preparation for a further increase in in-houseproduction ratio (from 60% to 80%) from Q4.
(Unit : million yen)
Sales ratio

FY23 Q3

30.2％

2,720

increase in sales

1,036

Decrease in product costs

58

Decrease in outsourced commodity purchases-299

Material cost
Labor costs/
outsourcing costs-256

Number of in-house production increased along with sales growthMaterial, labor, outsourcing, and supplies costs also increased-15

supplies expense

23

Utilities charge-41

OthersSales ratio

FY24 Q3

Increase mainly in direct sales and other frozen bento

32.1％

3,226

Although the amount increased due to in-house production, the utility cost perunit of production ratio improved by 0.4% YoY due to the introduction of solar
power generation and various energy-saving devices.

Depreciation increased by 21 million due to the introduction of new
equipment, and freight costs increased by 16 million for lateraltransportation between plants (plans to purchase trucks and bring logistics
in-house next fiscal year).

YoY Change
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+ 506million yen-7-Change Analysis of Ordinary Profit (Decrease in cost vs. increase in SG&A expenses)
Value increased 17.7%, ordinary income margin improved 0.5％
The volume of shipments from the company will increase due to the shift to in-house production starting in October 2022. In addition, the centralization ofdelivery to the company's own bases in the Q3 led to an increase in distribution center labor costs, freight costs, depreciation, etc. (The logistics cost,which used to be included in the cost of goods purchased from other companies, is now included in the company's SG&A expenses. However, in the end,
the increase in SG&A costs was absorbed by the significant effect of cost reductions(Unit : million yen）
Sales ratio

FY23 Q3

7.7％

698
506

Increase in gross profit‐294

Personnel costs
fare costs, advertising costs, etc.

-61

depreciation

Increase in labor costs and freight costs at distribution centers
Increase in labor costs by 163 million yen, freight costs by 109 million yen, and advertisingcosts by 13 million yen
Installation of equipment to improve logistics bases and efficiency in conjunction with inhouse production, Increase due to the introduction of equipment to raise the ratio of inhouse logistics production from April.

Reserve for shareholder benefits
and fees paid

-54

No positive difference in unused shareholder gift certificates, which occurred in the firstquarter of the previous fiscal year, this quarter due to increased use of shareholder gift
certificates. Further more, an increase in settlement fees due to an increase in direct sales

Supplies
expense29

In the Q1 and Q2 of the previous fiscal year, initial supplies such as containers and pallets
were incurred as consumable expenses during the start-up period of the distribution center,but not in the current fiscal year.

Provision of allowancefor doubtful accounts-15

Increase due to revision of criteria for allowance for doubtful accounts

13

OthersSales ratio

FY24 Q3

8.2％

822

YoY Change

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+ 123million yen-8-Frozen bento price strategy (market share in a growing market, rather than immediate profit)
Number of Shipments in Magokoro Care Meals
Decided that raising prices was a failure, lowered prices by 10-15% in
February, and even though advertising costs were reduced, the number ofcustomers increased dramatically, and shipments increased 22.1% (Jan. vs.
Apr.) Sales decreased due to price cuts, but are expected to eventually
recover due to increased numbers.

4% price increase from October, manufacturing anddistribution costs were falling, but the inflationary atmosphereled to a plan to raise prices, increase profits, increase
advertising, and increase sales, but shipments were down 5%
from before (September vs. December) and sales were down

In-house production and logistics have enabled the company toincrease productivity through capital investment. The company
has succeeded in maintaining raw material purchase prices
through economies of scale and “now” has the capacity to
reduce prices.
On the production line
In 2023, 10 workers can barely produce 1,200 pieces per hour.
In 2024, 10 workers can produce 2,100 pieces per hour.
On the distribution line, too
Let the cost of shipping work per box in 2023 be 10.
The cost per box in 2024 is now 7.

Competitive price comparison of frozen lunches (including tax, excluding shipping)（Unit :yen）.

Price per unit

our company

Company A

Company B

first time

190

390

527

Lowest price forregular service

364

465

599

*As of May 2024, according to our research.

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

-9-Efforts after April「Magokoro Care Food Omakase「Unattended Employee Cafeteria」

Influencer Marketing Available

Kobachi」Sales to start in April

Service to begin in May

to the public from May✓ Contributing to the reduction of waste
emissions, a key sustainability issue for theCompany✓ Price in the 300-yen range per meal
achieved through economies of scale andproprietary manufacturing know-how✓ Pricing can be set based on labor andpackaging costs alone, without considering thecost of raw materials due to surplus materials「まごころケア食 おまかせ小鉢」
販売開始に関するお知らせ✓ Over 90 varieties of bento with 1 main dish+ 2 side dishes and rice
「無人で運営できる社員食堂」
サービス開始のお知らせ✓ Tested to expand awareness andincrease sales of Magokoro Care Meals✓ Started to open to the public, including
the following channels「父と子つなぐお弁当」チャンネル「最強ばあちゃんときどき玄孫」チャンネル※Information as of the end of May 2024

※ Frozen bento with rice

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- 10 -

FY2024 Financial Plan

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FY2024 Financial Plan

No change in progress of earnings forecast forthis fiscal year

Sales are expected to grow 6.7%, mainly from Franchise chains and Direct Sales / Others.
Operating profit margin is expected to improve by 0.3% due to the improvement of production andDistribution systems, personnel allocation, cost control
Unit : million yen

FY2023 Results

Net Sales
Operating Profit
Ordinary Profit
ProfitFY2024 Plan

fluctuation

12,266

13,100

+833

670

760

+89

Sales ratio 5.5％

5.8％

+0.3%

857

950

+92

Sales ratio 7.0％

7.3％

+0.3%

602

620

+17

Sales ratio 4.9％

4.7％

-0.2%

*Profit for the FY2023 includes a tax credit of 35 million due to the first dividend

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 12 -

FY2024 Financial Plan (Sales and operating profit by sales category)Sales are expected to grow only moderately in Franchise chains, Facilities for the elderly. Direct Sales / Others
grew strongly with increased demand for frozen bento meals, with overall growth of 6.7%.
Operating profit improved significantly due to the in-house production that had been undertaken since the Q1 ofthe previous year

Sales

Unit : million yen+6.7
Vs. FY2023
Q4 results

FY2022_results
FY2023_results
FY2024_plan

13,10012,266+2.2
Vs. FY2023
Q4 results
8,080

8,523

11,215

8,710

Operating profit+13.4
Vs. FY2023
Q4 results

Unit : million yen
FY2022_results
FY2023_results
FY2024_plan

760
670

562
+26.3
Vs. FY2023
Q4 results+0.8
Vs. FY2023
Q4 results
1,307 1,325

1,336

3,054

1,827

2,418

Franchise

Facilities for

Direct Sales /chainsthe elderly

OthersTotal Sales

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Operating profit- 13 -

Reference : Management index
Net sales
15,000+30.0%Net sales
Growth rate

Unit ： million yen

10,000

7,800

8,832

10,05011,215

12,266

SG&A expense margin+20.0%+13.2% +13.8%

+0.0%
FY19

FY20

FY21

FY22

60.2

FY21

FY22

63.8

50.9
11.8%

55.6
10.7%

10.0%

5,000

77.7%

4,854

8,262 8,860
5,614

5.5%

FY20

FY21

FY22

FY23

PBR
100.0%

4,000

4.6

Unit ： yen

4.1

3,000

50.0%

2,640

Closing stock
price at the end
of Q4
PBR

5.0

2.7

3.0

1,873 1,878

2,000

2.3

1,341 1,264
1,000

0.0%
FY19

FY20

FY21

FY22

FY23

0

0.0%

FY19 FY20 FY21 FY22 FY23
Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

4.0

2.0
1.0

7.9%

0.0

10.0%

0.0%
FY19

9,562

59.6% 59.9% 61.9%

670

8.3%

3.8

75.7%

561

0

FY23

Unit ： million yen

Capital adequacy
ratio

20.0% 10,000

43.7

FY20

30.0% 15,000Total assets

ROE

100.0

50.0

10.6%

Capital adequacy margin

Unit ： yen

16.9%

11.3%

839

5.0%

0.0%
FY19

FY23

150.0

19.0%

934

22.5% 24.8%

0.0%

ROE
Profit per share

885

500
17.3% 19.0% 18.7%

20.0%

Operating profit
Operating profit margin

50.0%

+9.4%
0

1,500

1,000

71.3% 70.4% 72.9% 72.5% 69.8%+10.0%+11.6%

Operating profit margin

Unit ： million yen

50.0%+19.2%
5,000

Cost of sales margin ＆SG&A expense margin
100.0%
100.0%
Cost margin

0.0

FY19

FY20

FY21

FY22

FY23

- 14 -

The Market to which we belong

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

External Environment (increasing population of late elderly)
Our main target, the late elderly,
will increase exponentially beyond 2025
Unit : ten thousand

Population trends and forecasts for the elderly (over 65 years old) and late elderly (over 75 years old)
2,433 2,479 2,437

2,500

2,155

Baby boomer
generation will
becomelate elderly

2,000

1,860

1,936

1,752

1,627
1,742

1,517

1,701

1,407

1,500

1,687

1,301

Population age 65-74
Population aged over 75

1,000

2,316

2,261 2,238 2,227 2,277

1,668

1,535
1,498

1,435

900

892

1,207

1,197

2060

2065

1,455

1,299

699

597
516
500

366

376

309

224

164

107

Forecast

0

1950

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000

2005

2010

2015

2018

2020

2025

2030

2035

2040

2045

2050

2055

Source: Government materials
Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 16 -

External Environment (a business that does not rely on care insurance)
Changes in the Working Generation and the Elderly Population
Unit : ten thousand

6,000

Population over 65

3,782

3,347

4,000

3,704

1,826

2,000

8.86

0

1975

-2,000

1995

2015

The working generation (15 to 64 years old) is
decreasing, and the elderly population isincreasing

2035

2055

Moving toward society where 1.3 people of theworking generation will support 1 person aged
over 65.Social security deposit benefits per person
will decrease-4,000-6,000The increase of expenditure toward COVID-19
measures in 2020 makes it even more difficult tosecure financial resources for care and welfare-8,000

Forecast-10,000

Population under 64

Source: Government materials
Unit : cases
200

Bankruptcies in Elderly Welfare / Care Businesses
143

150

108 111 105 111
100

50

81

76
23

35

46

38

54
27

19

122

118

54

33

0
2006

2008

2010

2012

Source: local Government materials

2014

2016

2018

2020

2022

(90% of sales rely on care insurance)
care business is destined to become difficult in the
future.

In this upcoming era, only businesses such as
food distribution services for the elderly, which
can be managed without relying on insurance,
can support the lives of the rapidly increasingelderly population

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 17 -

Our Company Advantages

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Our Advantage : FC Network
Overwhelming number of stores

1,100
1,000

number of FC stores

990

900

Since opening its first store in “Setagaya” in November

800
700

2007, it has 990 stores as of the end of July 2022. This

600

unparalleled number of stores in the industry enables

400

you to enjoy economies of scale in terms of200

productivity, purchasing, and cost reduction

Low-cost opening

500
300
100
0

profit and loss statement of FC stores

Since the FC stores that we are developing are not

Sales

100 * Available at the lowest price on the market

visit-type stores, there are advantages such as a wide

Costs

40

Gross profit

60

range of location options and rent reduction. In* Stable purchase of high quality without cooking* Easy operation without cooking

addition, we have prepared a plan that does not

expenses20* Low initial investment and location-free rent

require a large kitchen facility and can be operated byprofit40* Low fixed cost ratio generates profits

one person, and a plan with a low initial cost
Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 19 -

Our Advantage : variety of menus
Food Pack
Menu：More than 1,000 items

Sold to：FC and Facilities for the Elderly
varieties ：chilled・frozen
feature：Nutritional balance for the elderly
Food pack for FC stores, which are our main company. Since it isa daily meal, it is served refrigerated so that it does not lose its
taste. In addition, we also provide frozen due to the expiration
date loss and convenience required by the facility.

Chilled Pack

After serving at FC stores

Frozen bento meals
menu： More than 70 items
Sold to：EC & FC
varieties：Health balance and large cuts
Carbohydrate calorie and protein adjustment
Moose diet and salt-restricted dietfeature：Suitable for all ages, short-time cooking, healthmanagement

We make frozen bento meals to meet diverse dietaryneeds, including convenience, time efficiency, and healthmanagement.

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 20 -

Our Advantage : Production System
High-mix random production
With an overwhelming number of stores, even the high-mix random
production required for chilled food delivery services enjoys economies ofscale in terms of purchasing and productivity
Manufacturing line required in a
general food factory (dedicatedline for a single product group)
Meat bun factory (1 million meat buns a
day flow from a machine dedicated to
manju to the conveyor. Although there
are differences in meat buns and beanbuns, they are the same product group)

Manufacturing line required forfood distribution service (line that
can handle random production ofother varieties)
Since meals are distributed daily, the same
product group cannot be provided every day.
12 items made today, 12 items made , allshould be different

Diversity of products
In addition to more than 1,000 chilled meals, wemanufacture a wide range of frozen bento such as avariety of frozen meals, protein-adjusted meals, andmousse meals.

In addition, for frozen bento, both pillow type and top
seal type can be manufactured.

Chilled and frozen meals

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Frozen bento pillow type

Frozen bento Top Seal type- 21 -

参考）リンク先一覧
Products for FC

https://www.magokoro-bento.com/

EC siteProducts for Elderly Facilities

https://kodawari-chef.com/lp

OEM Business Site

OEM Business
https://l-meal.com/

https://www.silver-life.co.jp/oem

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

EC sitehttps://magokoro-care-shoku.com/

Business introduction

Business
Introduction
https://www.silver-life.co.jp/product- 22 -

Our Advantage : Product Development, Quality and Sanitation Manegement
Product Development
・Our Product Development Office is situated in our factory,
facilitating close collaboration with the production team forhigh-quality and authentic product reproduction
・Our product development team consists mainly of qualified 【qualification holders】
28 registered dietitians
registered dietitians who utilize their advanced knowledge to
3 nutritionists
achieve optimal nutritional balance and deliciousness
6 health managers(Product Development)

Quality and Sanitation Management
・Gunma Factory acquires FSSC 22000 certification, building
an advanced safety management system that meets
international standards

・Sanitation management team conducts bacterial testing,hygiene guidance and supervision in the factory.
・ In order to improve the taste of the bento boxes provided
to customers, tastings are held every day（foreign matter inspection）

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

（Bacterial testing）- 23 -

Our Advantage：Consistent System
GeneralFoodDistribution
RelatedCompanies

Manufacturer
Development
開発

Manufacturing
製造

Company
Product development
Manufacturing Factory,by Nutritionist
Affiliated Factory

Logistics
Companies

Logistics
物流

Food Distributor Business Area
販売
Sales

Picking of freezing andFranchise chains,
Chilled Distribution Facilities for the elderly,
CenterDirect Sales /Others

配達
Delivery

Delivery to customers
from our nationwide
Franchise chain store
network

Feedback from franchise chain stores and customers

Purposeand
Features・Cost advantage due to mass production
・Product development based on customer
feedback (franchise chain stores)
・Ensure the "Safety and Security"

・Efficiency of storage anddelivery
・OEM sales expansion

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Food distribution service for the elderly- 24 -

Company Overview

Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

Our Management Philosophy and Mission【Management Philosophy】
We will create a society where everyone can grow old with peace of mind fromthe perspective of food.

【Our Mission】
We prepare bento’s at reasonable prices and deliver to your home every day sothat elderly people living alone or needing care who have difficulty
cooking or going out to shop can eat without any trouble.
Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 26 -

Company Overview
Company NameSILVER LIFE Co., Ltd.

Representative

President, CEO : Takahisa Shimizu

Established

October 2007

Capital Stock

730 million yen (as of July 31, 2023)

Address

Highness Lofty Level 2, 4-32-4, Nishishinjuku, Shinjuku-ku, Tokyo, 160-0023,
Japan・Franchise management of food delivery service for the elderly(Service names: “Magokoro Bento”, “Haishokuno Fureai”, “Takushoku Life”)

Businesses

・Food ingredient sales to senior-care facilities(Service names: “Magokoro Shokuzai Service”, “Kodawari Chef”)
・Own brand and OEM sales of frozen bento meals(Service name: “Magokoro Care Shoku”)

Websitehttps://www.silver-life.co.jp/

Employees

417 (Full-time: 232 / Part-time: 185）As of the end of July 2023

Factory・Gunma Factory:1678-1, Nakano, Ora-machi, Ora-gun, Gunma, 370-0603, Japan・Tochigi Factory:576-6, Hakaricho, Ashikaga-shi, Tochigi, 326-0327, Japan

Distribution Center・Kazo Center:376, Sakae, Kazo-shi, Saitama, 349-0213, Japan
Copyright©2024 SILVER LIFE CO., LTD. All Rights Reserved.

- 27 -

Our History
Kazo Center

Change to TSE Standard Market
First dividend payment
Launched “Life Meal”

Oct. 2023

Feb. 2024

Began productionof Akaiwa Cut Center

Mar. 2022

Kazo Center begins operations

Mar. 2021
Jul. 2020

Tochigi Factory begins operations
Acquired FSSC22000 certification
for Gunma Factory

Oct. 2017
Feb. 2016

Distribution center opened to Chiyoda-machi, Ora-gun, Gunma
Acquired ISO9001 certification for Gunma
Factory

Feb. 2013

Purchase of the Company factory site in
Ora-machi, Ora-gun, Gunma

Mar.2023

Change to TSE Prime Market

Apr. 2022

Launch of our third franchise chain “Takushoku Life”

Sep. 2021

Listing shifted to the TSE,First Section
Accomplished a total of 700 "Magokoro
Bento" & “Haishokuno Fureai” stores
Listed on TSE Mothers

Jan. 2020
May. 2019
Oct. 2017

Enfranchisement of all directly managed stores

Oct. 2014

Launch of OEM sales
Launch of our second franchise
chain “Haishokuno Fureai”
Launch of our food ingredient delivery service “Magokoro
Shokuzai Service” to senior-care facilities
Accomplished 100 "Magokoro
Bento" stores

Apr. 2014
Feb. 2014
Jun. 2012
Sep. 2010

Launched our first franchise chain “Magokoro Bento”

Apr. 2009

Opened the 1st directly managed
store in Setagaya-ku, Tokyo

Nov. 2007

Company establishedOct. 2007

Gunma Factory

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Tochigi Factory- 28 -

Business Model
Schematics of our Business Operation
FY2023 Sales composition

Raw materials providers / Out-sourcing factories
Foods,
Cooked foods

Loyalties,
ロイヤリティ等
etc.

Payment

Our
Company

Our
Factory

Food 食材販売売上高& Ingredients SalesManagement
Deliveryfees

Cooked foods

FrozenBento
meals

Payment

Payment
loyalties,
Etc.

Franchise chain storesstoresstoresstoresnationwide537*nationwide326* nationwide107*
Bento
Payment
General Customer

OEM supplier

General Customer

Food
ingredientpayment
Food
Ingredient,
etc.

Foods
Delivery

Facilities for the
Elderly, etc.

Mainly Wholesale Ingredients
A continuous profit system in which ourfood net sales increases proportionally to
the growth in net sales (number of meals)of franchise chain stores.
(Food net sales include sales for facilities
for the elderly, Direct Sales and OEM.

*As of the end of July 2023

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Handling of this Document◼ The statements in this document regarding future-prospects are based on current
information and may fluctuate due to economic trends, market environment, our relatedindustry trends, and other internal and external factors. Therefore, please have in mind
that there are risks and uncertainties that the actual results may differ from thosedescribed in this document regarding future-prospects.
◼ This document does not constitute or solicit an application for acquisition of any
securities, an application for sale, or an application for purchase (hereinafter referred toas “solicitation”) and is not intended to perform any solicitation activities and may not be
the basis of any contracts or obligations.
◼ Although we take the utmost care for the information in this document, there may beerrors in the posted information, and you may experience damage from data falsification
or data downloaded by a third party, but we do not take any responsibility for any
reason.

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