Financial Results Briefing for the Fiscal Year
Ended March 31, 2022
April 1, 2021 - March 31, 2022
May 19, 2022
Securities code: 7817
PARAMOUNTBED
HOLDINGS CO., LTD.
Securities code:
7817
PARAMOUNT BED HOLDINGS CO., LTD.

Copyright (C) 2022 Paramount Bed Holdings CO.,LTD. All Rights Reserved.

1

Executive Summary
Impact of COVID-19, depreciation of yen, material price hike, semiconductor
shortage, etc.
Impact of COVID-19, semiconductor shortage, etc. on material procurement ended
up being minor.
Current depreciation of yen and material price hike have considerable impact.
Sales price revisions scheduled for Oct. 1st, 2022.
Will continue to watch semiconductor shortage.
FYE3/2022 results and FYE3/2023 forecasts
Sales and income at record highs despite impact of change in accounting standards.
PARAMOUNT VISION 2030
Targets of Phase II of Medium-term Management Plan announced
Performance targets of Phase I of vision exceeded FY2022.
With keeping steady implementaion of priority measures of Phase I, we will also
carry out activities taking Phase II direction into account.
Targets for final year of Phase II (FY2027) are 120 billion yen in sales and 17 billion
yen in operating income.

Copyright (C) 2022 Paramount Bed Holdings CO.,LTD. All Rights Reserved.

2

Table of Contents
1. Overview of Financial Results for the Fiscal Year
Ended March 31, 2022
2. Overview by Business3. Outlook for the Fiscal Year Ending March 31, 2023
4. Medium-term Management Plan Phase II Targets
5. Topics

Copyright (C) 2022 Paramount Bed Holdings CO.,LTD. All Rights Reserved.

31. Overview of Financial
Results for the Fiscal Year
Ended March 31, 2022

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4

1-1. Overview of Financial Results
Sales and income increased, both to record highs
The year-end dividend increased by 2 yen. The annual dividend increased 6.8% in
real terms.
(Millions of yen)

*1. Revision announced on October 28.

Fiscal year ended March
31, 2021
ResultFiscal year ended March 31, 2022

Forecast*1

Resultvs. forecast

vs. previous year*2

Net sales

87,171

83,20090,352+8.6%-

Operating income(Operating margin)

11,582(13.3%)

11,800(14.2%)

12,340(13.7%)

+4.6%

+6.5%

Ordinary income(Ordinary margin)

13,461(15.4%)

12,550(15.1%)

13,543(15.0%)

+7.9%

+0.6%

8,611
(9.9%)

8,650(10.4%)

9,092(10.1%)

+5.1%

+5.6%

103 yen-

55 yen

-+6.8% in realterms

Net income
attributable to ownersof parent(Net margin)

Annual dividend*3*2. The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.
3. A 1:2 stock split of common shares was carried out effective April 1, 2021. The results for the fiscal year ended March 31, 2021 are the actual figures prior to the split.

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5

1-2. Factors Behind Change in Operating Income
Up 758 million yen despite increase in SG&A expenses
Increase in SG&A expenses was primarily from increase in transportation
expenses and that aimed at future growth.
(Millions of yen)

Operating income+758+1,11914,00012,000-808+1,476
11,582
Increase in income
from increased
sales

10,000

Increase inincome from
improvement ingross margin

Increase inpersonnel
expenses-1,03012,340
Other increase in
SG&A expenses
associated withincreased sales

8,000

Increase+2,5956,000-1,838Decrease

Other main SG&A
expenses that increased- Transportation
expenses- Advertising expenses- Outsourcing expenses,
etc.

4,000
2,000

Total

0
Fiscal year ended
March 31, 2021
Copyright (C) 2022 Paramount Bed Holdings CO.,LTD. All Rights Reserved.

Fiscal year ended
March 31, 20226

1-3. Financial Situation
Net assets up 7,853 million yen(Millions of yen)vs.
previous
year

March 31, 2021

March 31, 2022

Amount ofchangeCurrent assets

86,144

94,035+7,891+9.2%

Fixed assets

68,21370,246+2,033+3.0%

Total assets

154,358

164,281+9,923+6.4%

Current liabilities

23,72025,387+1,667+7.0%

Fixed liabilities

16,814

17,218

+404

+2.4%

Total liabilities

40,53542,606+2,071+5.1%

Net assets

113,822

121,675+7,853+6.9%

Total liabilities
and net assets

154,358

164,281+9,923+6.4%

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7

2. Overview by Business

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8

2-1. Results in Medical Care Business
Recurring businesses
expanded

FYE3/2022
FYE3/2019

Net sales

売上高(国内)(Millions of yen)
40,00034,44530,0006,892

35,946
6,607

FYE3/2021

vs.
previous yearResult(Millions of yen)

34,44535,94633,444

34,230-Japan

27,55329,33925,76926,435-

Overseas

6,892

6,607

7,675

7,795

-

Net sales

Medical institutions in Japan
improved profitability.
Rental/on-site services for
hospitals expanded.
Special demand dropped off
overseas.

FYE3/2020(Thousands of beds rounded to nearest thousand; comparison with previous year
calculated based on actual numbers)

Number of beds sold

85

88

90

89

-2%

Japan

48

48

44

47

+8%

Overseas

37

40

47

41

-11%

Number of beds

売上高（海外）

ベッド台数(国内)(Thousands)

33,444

34,230

7,675

7,795

100

ベッド台数（海外）

90

89

40

47

41

48

48

44

47

FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2022

85

88

37

80
60

20,00010,000027,55329,33925,76926,43540
20

FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2022

0*The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.

Copyright (C) 2022 Paramount Bed Holdings CO.,LTD. All Rights Reserved.

92-2. Results in Nursing Care Business
Sales and rentals both
continued to performwell
New product effect in home care
continues.
Rental wholesale also performed
well (182k beds in operation).
Overseas, large project for nursing
care facility in Singapore
contributed.
Net sales

売上高(国内)(Millions of yen)

40,00044,596313

44,734416

44,191

50,48252,317-

Japan

44,282

44,19150,06551,298-Overseas

313

542

416

1,018

-

(Thousands of beds rounded to nearest thousand; comparison with previous
year calculated based on actual numbers)

Number of beds sold

112

95

108

123

+14%

Japan

107

91

105

117

+11%

Overseas

543

6 +103%*Number of beds sold includes sales to operating companies within the Group.

Number of beds

ベッド台数(国内)(Thousands)

ベッド台数（海外）

52,317
1,018

123
120
100

50,065vs.
previous yearResult

44,734112
551,298

60

108
95

3

6

4

80

44,282

FYE3/2021

44,596

Net sales

107

40

10,0000

FYE3/2020(Millions of yen)542

30,00020,000FYE3/2019

売上高（海外）50,48250,000FYE3/2022

91

105

117

FYE3/2021

FYE3/2022

20

FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2022

0

FYE3/2019

FYE3/2020*The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.

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102-3. Results in Health Promotion Business
FYE3/2022

Up 35% in real terms

FYE3/2019

FYE3/2020

FYE3/2021

vs.
previous yearResult(Millions of yen)

New INTIME3000 released lastSeptember also contributed.
Enhanced PR, including events, inaddition to television, radio, andsocial media.

Net sales

売上高(国内)(Millions of yen)

1,231

1,584

2,141

-

Japan

1,047

1,231

1,584

2,141

-

Overseas

0

0

0

0

-

(Thousands of beds rounded to nearest thousand; comparison with previous
year calculated based on actual numbers)

Number of beds sold

5

6

7

9

+25%

Japan

5

6

7

9

+25%

Overseas

0

0

0

0

0%

Number of beds

売上高（海外）

2,500

0

1,584

1,500

1,047
1,000

0

500

1,047

FYE3/2019

1,231

1,231

FYE3/2020

1,584

4
2

FYE3/2021

9
7

8
6

2,141

FYE3/2022

ベッド台数（海外）

10

6

0

0

ベッド台数(国内)(Thousands)

2,141

2,000

0

1,047

Net sales

0

5
0
5

FYE3/2019

06

FYE3/2020

00

7

FYE3/2021

9

FYE3/2022*The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.

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112-4. Results by Business At a Glance
Number of beds up 7% overall to 220,000 beds
Number of beds soldNet sales(Millions of yen)

FYE3/2021
ResultMedical Care
Business

FYE3/2022

FYE3/2021

vs. previous
year

Result(Thousands of beds, rounded to nearest thousand)

FYE3/2022

Resultvs. previous
year

Result33,444

34,230

-

90

89

-2%

25,7697,675

26,435
7,795

-

47
41

+8%

-

44
47

-11%

50,48252,317

-

108

123

+14%

50,065416

51,298
1,018

-

117
6

+11%

-

105
3

+103%

1,584

2,141

-

7

9

＋25%

1,584
0

2,141
0

-

9
0

＋25%

-

7
0

Other

1,659

1,662

-

ー

ー

ー

Total

87,17190,352

-

205

220

+7%

Japan
Overseas

Nursing Care
Business
Japan
Overseas

Health Promotion
Business
Japan
Overseas

0%*The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.

*Number of beds sold includes sales to operating companies within the Group.
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122-5. Net Sales by Overseas Region
Drop in special demand covered by other regions
Demand is recovering in China, driven by high-performance beds.
India and Singapore are driving expansion in Asia.
Consolidated overseas net sales by region(Millions of yen)

FYE
3/2021FYE
3/2022

vs.
previousyear

FYE
3/2021FYE
3/2022(Millions of yen)

Consolidated
overseas net
sales

8,091

8,813

-

Overseas sales
ratio

9.3%

9.8%

-

Consolidated
overseas net
sales
10,000(Millions of yen)
8,000
6,000

Consolidated overseas net sales
Overseas sales ratio

8,091

9.3

6,914

7,923

-

Indonesia

3,057

2,772

-

China

2,199

2,803

-

Other Asian
countries

1,656

2,346

-

Middle East

222

68

-

Central andSouth America

808

227

-

Other

147

595

-

Asia

Overseas sales ratio
（％）

8,813

15.0
14.0
13.0

9.8

12.0
11.0

vs.
previous
year

10.0

4,000

9.0
8.0

2,000

7.0
6.0

0

FY3/2021

FY3/2022

5.0*The year-on-year change in net sales is not shown because the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) will be applied from the fiscal year ending March 31, 2022.

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13

3. Outlook for the Fiscal Year Ending March
31, 2023

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143-1. Full-year Forecast
Increase in sales and income
2 yen increase in dividend expected.
(Millions of yen)
FYE3/2022

ResultFYE3/2023

1H

2H

Full-year forecast

vs. previous
year

Net sales

90,35242,70051,30094,000+4.0%

Operating income(Operating margin)

12,340(13.7%)

4,700(11.0%)

7,800(15.2%)

12,500(13.3%)+1.3%

Ordinary income(Ordinary margin)

13,543(15.0%)

4,900(11.5%)

8,000(15.6%)

12,900(13.7%)-4.8%

Net income
attributable to ownersof parent(Net margin)

9,092(10.1%)

3,300(7.7%)

5,500(10.7%)

8,800(9.4%)-3.2%

55 yen28 yen29 yen57 yen+3.6%

Annual dividend

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15

3-2. Factors Behind Change in Operating Income
Actively roll out activities for future growth
1H operating income down YoY, but full-year operating income up.
(Millions of yen)

Operating income+160

14,00012,000+632-400

Increase inincome from
improvementin grossmarginIncrease insystemrelated
expenses+1,737
12,340
Increase inincome fromincreased sales

10,000-1,401
12,500
Other increasein SG&A
expenses
associated withincreased sales

Increase
8,000+2,369-2,209Decrease

Other main SG&A
expenses that will
increase- Personnel expenses- Transportation
expenses- R&D expenses, etc.

6,000
4,000

Total

2,000
0

FYE3/2022
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FYE3/2023
16

3-3. Outlook for Medical Care Business
Expand large markets
overseas

FYE3/2023
FYE3/2020

Net sales

売上高(国内)(Millions of yen)

30,00035,946
6,607

33,444

34,23034,469+1%

Japan

29,33925,76926,435

26,145-0%Overseas

6,607

7,675

7,795

8,324

+7%

(Thousands of beds rounded to nearest thousand; comparison with previous
year calculated based on actual numbers)

Number of beds sold

88

90

89

93

+4%

Japan

48

44

47

45

-5%

Overseas

40

47

41

48

+15%

Number of beds

売上高（海外）10,0000

FYE3/2020

ベッド台数(国内)(Thousands)

33,444

34,23034,469

7,675

7,795

8,324

25,76926,435

26,145

FYE3/2021

FYE3/2022

FYE3/2023

20,00029,339vs.
previous year

Forecast

35,946100
40,000FYE3/2022(Millions of yen)
Net sales

Expand recurring business inJapan despite decrease in numberof beds.
Grow large markets overseas suchas those in Indonesia, China, andIndia.

FYE3/2021

ベッド台数（海外）

88

90

89

93

40

47

41

48

48

44

47

45

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023

80
60
40

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20
0

17

3-4. Outlook for Nursing Care Business
FYE3/2023

Both nursing homeand home care will
expandFYE3/2020

FYE3/2021

FYE3/2022

vs.
previous year

Forecast(Millions of yen)

44,73450,48252,317

55,104+5%

Japan

44,19150,06551,29854,127+6%

Overseas

542

416

1,018

976

-4%

Net sales

Rental business will remain solid.
New home care product to bereleased in March will contribute
throughout year.
Focusing on getting NEMURISCAN penetrate through nursing
home market.

(Thousands of beds rounded to nearest thousand; comparison with previous
year calculated based on actual numbers)

Number of beds sold

95

108

123

129

+5%

Japan

91

105

117

123

+5%

Overseas

4

3

6

6

+10%

*Number of beds sold includes sales to operating companies within the Group.

Net sales

売上高(国内)(Millions of yen)
60,00050,00040,00050,482
44,734542

30,00020,00044,191

416

Number of beds

売上高（海外）52,317
1,018

55,104976

51,29854,127

ベッド台数（海外）

150

123
108
100

50,065ベッド台数(国内)(Thousands)

50

95
4

91

3

105

129

6

6

117

123

FYE3/2022

FYE3/2023

10,0000

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023

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0

FYE3/2020

FYE3/202118

3-5. Outlook for Health Promotion Business
FYE3/2023

Up 26% YoY

FYE3/2020

FYE3/2021

FYE3/2022

vs.
previous year

Forecast(Millions of yen)

INTIME3000 will contribute
throughout year.
Will continue to enhance PR,
increase events, implement
measures to improve user
satisfaction, and strengthen
relationships with retail shops.

Net sales

売上高(国内)(Millions of yen)

0

2,700

+26%

Japan

1,231

1,584

2,141

2,700

+26%

Overseas

0

0

0

0

0%

Number of beds sold

6

7

9

11

+23%

Japan

6

7

9

11

+23%

Overseas

0

0

0

0

0%

Number of beds

売上高（海外）

2,141

2,000

500

2,141

1,584
1,231
0
1,231

FYE3/2020

1,584

FYE3/2021

0

0

0
2,141

FYE3/2022

ベッド台数(国内)(Thousands)

2,700

2,500

1,000

1,584

(Thousands of beds rounded to nearest thousand; comparison with previous
year calculated based on actual numbers)

3,000

1,500

1,231

Net sales

15

11
9

10

2,700

FYE3/2023

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ベッド台数（海外）

6
5

0

0

7
0

6

7

FYE3/2020

FYE3/2021

00

9

FYE3/2022

11

FYE3/2023

19

3-6. Businesses At a Glance
Number of beds up 6% overall to 233,000 beds
Net sales

Number of beds sold(Millions of yen)

FYE3/2022
ResultMedical Care
Business

FYE3/2023
Forecast(Thousands of beds, rounded to nearest thousand)

FYE3/2022

vs. previous
year

FYE3/2023

Resultvs. previous
year

Forecast

34,23034,469

+1%

89

93

+4%

26,435
7,795

26,145
8,324

-0%

45
48

-5%

+7%

47
41

+15%

52,317

55,104

+5%

123

129

+5%

51,2981,018

54,127
976

+6%

123
6

+5%

-4%

117
6

+10%

2,141

2,700

＋26%

9

11

＋23%

2,141
0

2,700
0

＋26%

11
0

＋23%

0%

9
0

Other

1,662

1,726

+4%

ー

ー

ー

Total

90,352

94,000

+4%

220

233

+6%

Japan
Overseas

Nursing Care
Business
Japan
Overseas

Health Promotion
Business
Japan
Overseas0%*Number of beds sold includes sales to operating companies within the Group.
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20

3-7. Net Sales by Overseas Region
Expand large markets overseas such as those inIndonesia, China, and India.
Consolidated overseas net sales by region(Millions of yen)

FYE
3/2022FYE
3/2023
Forecast

vs.
previous
year

8,813

9,300

+6%

Overseas sales
ratio

9.8%

9.9%

-

(Millions of yen)

Consolidated overseas net sales

7,923

8,564

+8%

Indonesia

2,772

3,220

+16%

China

2,803

2,952

+5%

Net sales (overseas)

8,813

Other Asian
countries

2,346

2,391

+2%

Middle East

68

172

+153%

Central andSouth America

227

360

+59%

Other

595

204

-66%

Asia

Overseas
sales ratio

9,300

8,000
6,000

vs.
previous
year(Millions of yen)

Consolidated
overseas net
sales

Consolidated
overseas net
10,000sales

FYE
3/2023
Forecast

FYE
3/2022

（％）
15.0
14.0
13.0

9.8

9.9

12.0
11.0
10.0

4,000

9.0
8.0

2,000

7.0
6.0

0

FY3/2022

FY3/2023

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5.0

21

3-8. Capital Investment
Depreciation of rental assets for home care and medicalcare business will increase
Capital investment will include development of large-scale PCS facilities andpainting equipment upgrades at plant in Indonesia.
(Millions of yen)

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023
Forecast

Capital investment
expense

3,984

2,976

1,822

3,600

Depreciation expense

6,895

7,540

7,898

8,463

R&D expenses

1,677

1,782

1,697

1,774

Number of
employees

3,494

3,614

3,682

-

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22

3-9. Shareholder Return (Dividends/Share Buybacks)
Basic policy: Stable dividends with 2.7% DOE and payout ratio of 30%
as a guide
Dividends are planned to be 57 yen per share in the fiscal year ending March 31,
2023. Increase in dividend expected for third consecutive year.
FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2023
Forecast

FYE3/2022

50 yen50 yen51.5 yen

55 yen57 yen

2.8%

2.7%

2.7%

2.7%

-

Dividend payout

44.7％

42.3％

34.8％

35.2％

37.7%

Share buybacks

0 yen

4,382 million yen

0 yen

0 yen

-

Annual dividend*
Dividend on equity (DOE)

Annual dividend*

Annual dividend

(yen)
60

50

50

Dividend payout

51.5

55

Dividend payout

57

（％）
120

50

100

40

80

30

60

20
10
0

40

44.7

42.3

FY3/2019

FY3/2020

34.8

35.2

37.7

FY3/2021

FY3/2022

FY3/2023(Forecast)

200* The Company carried out a 1:2 stock split of common shares effective April 1, 2021.
The above figures show the annual dividend per share calculated based on the assumption that the split took place on April 1, 2018.
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23

4. Medium-term Management Plan
Phase II Targets

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24

4-1. Positioning of Management Corporate Principles, Long-term Vision, andMedium-term Management Plan

Corporate Principles

Corporate Principles
We will create a comfortable healthcare environment
through cutting-edge technology with a human touch

Statement

Corporate Principles

as human, for human
VisionPARAMOUNT VISION 2030
Smiles for everyone from medical andnursing care to health field

VisionIdeal Future Image

Medium-term Management Plan

Phase I（April 2020 - March 2024）
Phase II（April 2024 - March 2027）

Medium-term Management Plan

Phase III（April 2027 - March 2030）
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25

4-2. Status of Phase I
Phase I
Medium-term Management Plan
(April 2020 - March 2024)

Phase II
(April 2024 - March
2027)

Phase III
(April 2027 - March
2030)

Expansion of current businesses
Medium- to long-term
Fully engaging in Health Promotion
investment phase
Business
anticipating 10 years ofEstablishing the foundations for
growthchangeInitiatives to address SDGs and make social contributions, strengthening of human resource foundations,renewal of system infrastructure[Current situation]- Phase I performance targets
Aiming for 12 billion yen in operating income and89 billion yen in sales in FYE3/2024
Exceeded in FYE3/2022

With keeping steady implementaion of priority
measures of Phase I, we will also carry out activities
taking Phase II direction into account.
April 2021 Briefing Materials
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26

4-3. Phase II (FYE3/2025 - FYE3/2027) Performance Targets
Final year of Phase II: 120 billion yen in sales and 17 billion yen in operating income
Net sales(Hundred
1,300
millions of yen)Phase II
Phase I

Operating income(Hundred millionsof yen)

1,100

160
CAGR
6.6％

900

140
120

700

100

500

80

FY3/2020

FY3/2021

FY3/2022*1

FY3/2023
Forecast

FY3/2027
TargetNet sales

82.3 billionyen

87.1 billion
yen

90.3 billion
yen

94.0 billion
yen

120.0 billion
yen

Operatingincome9.9 billion
yen

11.5 billion
yen

12.3 billion
yen

12.5 billion
yen

17.0 billion
yen

Operatingmargin

12.0%

13.3%

13.7%

13.3%

14.2%

Recurring
net salesratio in
Japan

33.8%

34.6%

36.0%

37.6%

45.0%

*1
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The “Accounting Standard for Revenue Recognition” will apply from FY3/2022
27

4-4. Phase II Direction and Focal Points
PARAMOUNT VISION 2030

Smiles for everyone from medical and nursing care to health field
2024.32027.32030.3Phase I priority measures
Expansion of current businesses
Fully engaging in Health Promotion
Business
Establishing the foundations for change

Phase II direction and focal points
Expansion of recurring businesses
Advancement of Health Promotion Business
Leap forward in key areas of Asia

Enhance partnerships with other companys to expand
and create businesses,and achieve the above
We will Become an indispensable
partner to our customers
Initiatives to address SDGs and make social contributions, strengthening of
human resource foundations, renewal of system infrastructure
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28

4-5. Phase II Direction and Focal Points
Expansion of recurring businesses- Accelerate expansion of current recurring businesses
Assistive products rental wholesale business (Nursing Care)
On-site hospital services (Medical Care)
Hospital packaged rentals (Medical Care)- Develop new recurring business menu utilizing sensing technology,
AI, IoT, etc.

Advancement of Health Promotion
Business- Expansion of sleep improvement products- Products and services contributing to extending healthy life
expectancy- Expand users by partnering with other companies

Leap forward in key areas of Asia
- No. 1 share of medical beds in countries of operations- Increase production capacity to support increase in number of beds
sold
- Aim for CAGR 10% in sales

Increase recurring sales
ratio in Japan from current
36% to 45%

Increase Health Promotion
Business net sales toover 5 billion yen

Increase overseas net sales
to 15 billion yen

Accelerate speed of expansion of each focal point utilizing
partnerships and CVC
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29

4-6. Phase II Performance Targets (Overseas)
Consolidated overseas net sales
FYE3/2022
Result(Millions of yen)

FYE3/2027
Targetvs. FYE3/2022
result7,923

13,500+70%

Indonesia

2,772

4,900

+77%

China

2,803

4,600

+64%

Other Asian
countries

2,346

4,000

+71%

890

1,500

+69%

Total

8,813

15,000+70%

Overseas sales
ratio

9.8%

12.5%

-

Asia

Outside of
Asia

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30

4-7. Phase II Performance Targets (By Business)
Net sales by business(Millions of yen)

FYE3/2022
ResultFYE3/2027
Targetvs. FYE3/2022
resultMedicalBusiness

34,23049,600+45%

Nursing Care
Business

52,31762,900+20%

Health Business

2,141

5,500

+157%

Other

1,662

2,000

+20%

Total

90,352120,000+33%

Operatingincome12,34017,000+38%

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31

4-8. Cash Allocation Plan
Priority allocation to recurring asset investments,
venture investments, etc.
Aiming to strengthen ties with customers and shift to a recurring business model
Cumulative total for FYE3/2023-FYE3/2027
Cash inCash out
Shareholder return
20 billion yen~

Income tax
20 billion yen~
EBITDA
115 billion yen~

Allocation of
cash on hand
10 billion yen~

Growthinvestment

Shareholder return
Dividend on equity (DOE) ratio of 2.7%, dividend
payout ratio of 30% as a guide
Flexible additional return considering market
environment, etc.
Growth investment

Capital investment
15 billion yen~

Recurring assets to strengthen ongoing relationships with customers

Recurring asset,
CVC
establishment,
etc.

Active development of partnerships with other companies, including
establishment of CVC for business development

70 billion
yen~

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Enhancement of production facilities and equipment of maintenance ofrental assistive products / Renewal of system infrastracture<Stance on level of cash on hand>
Approx. 3 months of working capital＋ providing products and services that contribute to medical

Maintain business operation system capable of continuously

and nursing care even in the event of a disaster32

5-1. Topics
Accelerate activities to contribute to SDGs
Identify 6 material issues (materiality) and promote efforts to address them
1. Support for the establishment of a sustained medical and nursing care system

4. Promotion of employee health, diversity, and work style reform

2. Creation of an environment where everyone can live healthily and happily

5. Environmentally conscious business activities

3. Pursuit of product safety

6. Ensuring compliance

Launch of approx. 20-hectare mangrove forest
planting activities in Indonesia- Company: PARAMOUNT BED CO., LTD.
- Subcontracting agreement signed with YL Forest Co., Ltd., which is engaged inmangrove forest planting and conservation business.
- Will establish PB Mangrove Forest with 50,000 mangroves on approx. 20-hectare plot in
Nusa Tenggara, Indonesia.
- Part of a social contribution program that supports tree planting based on points
accumulated in the Active Sleep BED app that tracks sleep on motorized beds
- Expecting absorption of equivalent of up to 25,000 tons of CO2- We also aim to contribute to the restoration and conservation of the natural environment
and ecosystem, the improvement of the lives of local residents, and more utilizing the“silvofishery” method aiming to restore aquaculture by planting trees in abandoned shrimp
breeding ponds.
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Illustration of mangrove forest(Provided by YL Forest Co., Ltd.)33

5-2. Topics
New product for medical and nursing care businesses
Launched reversible antiviralmattresses in March- Features a cover that offers both antiviralproperties and chemical resistance, a first in the
medical and nursing care industry.
- Adopt to the reversible Everfit C3, which allows
selection of body pressure dispersion and easeof movement, and to the bed sore preventing
Everproud, which has the highest class of bodypressure dispersion among stationary
mattresses.

Antiviral Everfit C3 mattress

Virus- Launched in March 2022
- Open price

Adhesion

Base fabric

Waterproof film containing antiviral ingredients

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34

5-3. Topics
New product for Nursing Care Business
Q-AURA ONE motorized bed forhome care released nationwide in
March- One bottom unit can be transformed into total of fourtypes with two widths and two lengths, an industry first.
Contributing to operational efficiency of rental dealers.
- Function to link raising the back bottom and the legbottom with a single button to prevent body slippage.
- Can be operated via smartphone.
- Function to notify smartphones to family members- Automatic bed inspection function for rental dealers.

Kuora ONE with wooden board (grip)- Launched nationwide in March 2022
- Open price

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35

5-4. Topics
New product for Nursing Care Business
Eleveo bed-mounted nursing care lift released in November 2021
- Fits the Company’s home care beds (excluding some models).
- Switch allows adjustment of bed height.
- Vertical up-and-down for less body movement.
- Allows space for caregiver’s feet.
- Equipped with safety devices, including emergency stop lever.
- Voice report function announces errors and status reports.
- Launched in November 2021
- Open price
Eleveo installed on Rakusyou Plus series

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36

Disclaimer
The figures from performance forecasts in this document were preparedbased on information currently available as of the date of publication.
Actual results may differ from these forecasts due to various factors.
The monetary amounts in this document are rounded down.
The percentages shown for comparisons with forecasts and the previous
year have plus and minus signs for the change and are rounded to thenearest value.

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37