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.

October 30, 2023

Consolidated Financial Results
for the First Six Months of the Fiscal Year Ending March 31, 2024
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Contact:

Paramount Bed Holdings Co., Ltd.
Tokyo Stock Exchange
7817
https://www.paramountbed-hd.co.jp
Tomohiko Kimura, President and Chief Executive Officer
Tatsuya Udagawa, General Manager, Finance Dept.
TEL: 03-3648-1100

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results presentation meeting:

November 13, 2023
December 4, 2023
Yes
Yes (for institutional investors andanalysts)(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated financial results for the first six months of the fiscal year ending March 31, 2024
(from April 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Six months ended
September 30, 2023
September 30, 2022

Operating profit

Millions of yen

49,72046,850Note: Comprehensive income% Millions of yen

6.1
13.6

6,480
6,218

Profit attributable toowners of parent

Ordinary profit% Millions of yen

4.2
(1.3)

Six months ended September 30, 2023:
Six months ended September 30, 2022:

Basic earnings
per share
Six months ended(Percentages indicate year-on-year changes.)

Diluted earnings
per share
Yen

Yen

September 30, 2023

90.89

–

September 30, 2022

86.73

–7,8197,601% Millions of yen

2.9
11.3

¥7,278 million¥6,917 million

5,298
5,044
[5.2%][28.4%]

%

5.0
2.4

(2) Consolidated financial position
Total assets
As ofSeptember 30, 2023
March 31, 2023
Reference:

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

175,345
172,293

134,248
128,69776.6
74.7

EquityAs of September 30, 2023:
As of March 31, 2023:¥134,247 million¥128,696 million

2. Dividends
Dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

YenFiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024

–

28.00

–

31.00

Fiscal year ending
March 31, 2024
(Forecast)Fiscal year-end

Total

YenYen–

31.00

59.00

–

31.00

62.00

Note: Revisions to the dividends forecasts most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 toMarch 31, 2024)
Net sales

Fiscal year ending
March 31, 2024

(Percentages indicate year-on-year changes.)
Profit attributable to Basic earnings
Ordinary profit
owners of parentper share

Operating profit

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

105,000

6.1

14,0004.1

14,500

2.6

9,800

6.3

Note: Revisions to the earnings forecasts most recently announced: None

Yen

168.12

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Application of special accounting for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies in accordance with changes in accounting standards, etc.: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of shares issued (common shares)(i)

Number of shares issued at the end of the period (including treasury shares)
As of September 30, 2023

61,754,974 shares

As of March 31, 2023

61,754,974 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2023

3,433,682 shares

As of March 31, 2023

3,464,828 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of thefiscal year)
Six months ended September 30, 2023

58,303,227 shares

Six months ended September 30, 2022

58,165,131 shares* Indication regarding execution of quarterly review procedures
The completion of quarterly review procedures in accordance with the Financial Instruments and Exchange Act
is not required for preparing this quarterly financial results report. At the time of disclosure of this quarterly
financial results report, the review procedures for quarterly consolidated financial statements in accordance with
the Financial Instruments and Exchange Act are incomplete.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
Consequently, the statements herein do not constitute assurances regarding the Company’s actual results. Actual
financial and other results may differ substantially from the statements herein due to various factors. Please referto “1. Qualitative information regarding financial results for the period under review, (3) Information regarding
consolidated earnings forecasts and other forward-looking statements” on page 3 of the attached materials forthe suppositions that form the assumptions for the earnings forecasts and cautions regarding the use of theearnings forecasts.

Paramount Bed Holdings Co., Ltd. (7817)

Contents of Attached Materials
Index
1. Qualitative information regarding financial results for the period under review ...................................... 2(1) Information regarding operating results ............................................................................................. 2(2) Information regarding financial position ............................................................................................ 3(3) Information regarding consolidated earnings forecasts and other forward-looking statements ......... 32. Quarterly consolidated financial statements and significant notes thereto ............................................... 4(1) Quarterly consolidated balance sheet ................................................................................................. 4(2) Quarterly consolidated statement of income and quarterly consolidated statement ofcomprehensive income ....................................................................................................................... 6Quarterly consolidated statement of income (cumulative) ................................................................. 6
Quarterly consolidated statement of comprehensive income (cumulative) ........................................ 7(3) Notes to quarterly consolidated financial statements ......................................................................... 8Notes on premise of going concern .................................................................................................... 8Notes on significant changes in the amount of shareholders’ equity .................................................. 8-1-Paramount Bed Holdings Co., Ltd. (7817)

1. Qualitative information regarding financial results for the period under review(1) Information regarding operating results
During the six months ended September 30, 2023, the Japanese economy saw the easing of various
restrictions related to COVID-19 infections and the normalization of social and economic activities.
However, the future remains unclear due to factors such as the protracted Ukrainian crisis, instabilities
in foreign exchange rate trends associated with rising overseas interest rates and prices, and theslowdown of the Chinese economy.
The fiscal year ending March 31, 2024 is the final year of Phase I of the Group’s medium-term
management plan based on “Paramount Vision 2030,” which describes the type of company we aim tobe in 2030. We steadily implement initiatives for the key measures of Phase I, “expansion of currentbusiness,” “fully engaging in health promotion business,” and “establishing the foundations forchange,” to build a foundation for medium- to long-term growth. We are also moving forward withactivities in preparation for the basic policies of Phase II: “expansion of recurring revenue business,”“advancement of health promotion business,” and “leap forward in key areas of Asia.” The Group has
set targets for Phase II of ¥120,000 million in net sales and ¥17,000 million in operating profit for thefiscal year ending March 31, 2027.
In terms of our results for the six months ended September 30, 2023, net sales in the medical carebusiness increased by 10.2% year-on-year to ¥19,770 million, mainly due to the continuation of thesteady expansion of recurring revenue business in Japan and higher overseas sales year-on-year. In thenursing care business, net sales increased by 3.6% year on year to ¥27,767 million, mainly due toefforts to expand sales of the “Nemuri SCAN” body motion sensor for nursing facilities, and sales ofbeds and other assistive products for home care. In the health promotion business, net sales increased
just by 0.4% year on year to ¥1,282 million, due to changes in consumer behavior following thedowngrading of COVID-19 to a Class 5 disease and the impact of extremely hot weather, which
resulted in a slump in visitors to stores.
In terms of product development, we launched the wide-sized electric beds “Rakusho Wing” series forhome care on August 1. In addition to increasing the width of the bed to 100 cm, 9 cm more than ourstandard size, we adopted a structure that enables the length to be switched from our standard length of
191 cm to a 14 cm-longer 205 cm. This expands our lineup to address the needs of elderly people withlarger frames, the number of which has been increasing in recent years. Moreover, on September 21 weannounced the launch on October 2, 2023, of the “Nemuri CONNECT” monitoring support system,
which enables information from the “Nemuri SCAN” body motion sensor, used mainly for monitoring
applications in nursing facilities, to be managed in the cloud. By supporting DX in the nursing carefield through the provision of this system, we aim to contribute to enhancements in nursing carequality, reductions in workload, and improvements in productivity.
The information on disaggregation of net sales for the six months ended September 30, 2023 is asfollows.
Net sales by business(Millions of yen)
Sales categories

Six months ended
September 30, 2022

Six months ended
September 30, 2023

ChangeMedical care

17,933

19,770

10.2%

Nursing care

26,797

27,767

3.6%

Health promotion

1,276

1,282

0.4%

Others

842

900

6.9%

Total

46,85049,720

6.1%-2-Paramount Bed Holdings Co., Ltd. (7817)

Net sales by region(Millions of yen)
Sales categories

Six months ended
September 30, 2022

Six months ended
September 30, 2023

ChangeDomestic

42,02244,437

5.7%

Overseas

4,828

5,283

9.4%

Total

46,85049,720

6.1%

As a result of the above, net sales for the six months ended September 30, 2023 increased by ¥2,870
million (up 6.1%) year-on-year to ¥49,720 million. In terms of profits, in addition to gross profit
margin improving, there were delays in the incurring of some expenses such as system-related expenses
for the launch of a new Enterprise Resource Planning system, which the Group had previouslyexpected. This resulted in operating profit increasing by ¥261 million to ¥6,480 million (up 4.2%),
ordinary profit increasing by ¥218 million to ¥7,819 million (up 2.9%), and profit attributable toowners of parent increasing by ¥254 million to ¥5,298 million (up 5.0%).
As the Group’s business consists of a single segment, segment information has been omitted.
(2) Information regarding financial position
Total assets as of September 30, 2023 stood at ¥175,345 million, an increase of ¥3,051 million
compared with the end of the previous fiscal year. The main aspects that contributed to this increase
were increases in investment securities.
Total liabilities stood at ¥41,096 million, a decrease of ¥2,500 million compared with the end of theprevious fiscal year. The main aspects that contributed to this decrease were decreases in notes andaccounts payable - trade.
Net assets stood at ¥134,248 million, an increase of ¥5,551 million compared with the end of theprevious fiscal year. The main aspects that contributed to this increase were increases in retained
earnings, and foreign currency translation adjustment.
As a result of the above, equity-to-asset ratio as of September 30, 2023 rose by 1.9 points, comparedwith the end of the previous fiscal year to 76.6%.
(3) Information regarding consolidated earnings forecasts and other forward-looking statements
No revisions have been made to the consolidated earnings forecasts announced on October 26, 2023.

-3-Paramount Bed Holdings Co., Ltd. (7817)

2. Quarterly consolidated financial statements and significant notes thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Lease receivables and investments in leases
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assetsProperty, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, netLand
Leased assets
Accumulated depreciation
Leased assets, net
Assets for rent
Accumulated depreciation
Assets for rent, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-4-

As of September 30, 2023

39,82024,793
5,526
13,412
8,233
362
2,660
2,408(83)97,135

38,10023,321
6,065
13,662
8,509
371
2,934
1,410
(82)
94,292

32,171(22,617)
9,553
9,440
(8,068)
1,371
8,846
2,652
(1,428)
1,223
52,976(32,245)
20,731579
10,682(9,409)1,273
43,57932,474(23,101)
9,372
9,680
(8,291)
1,389
8,846
2,611
(1,480)1,130
55,180(33,919)
21,260743
11,380(9,764)
1,616
44,359

4,344
4,344

4,773
4,773

18,2449,820(830)
27,23475,158172,293

21,046
11,855(982)
31,91981,052
175,345

Paramount Bed Holdings Co., Ltd. (7817)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Lease liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-5-

As of September 30, 2023

13,432
1,542
2,410
1,647

11,330
1,349
2,289
1,593

28–

7,239
26,3006,749
23,311

3,965
7,005
6,325
17,296
43,596

3,835
7,227
6,721
17,78441,096

4,207
51,902
76,338(6,742)
125,705

4,207
51,91879,830(6,678)129,278889
2,400(299)2,990
0128,697
172,293

1,411
3,842
(284)
4,969
0
134,248
175,345

Paramount Bed Holdings Co., Ltd. (7817)(2) Quarterly consolidated statement of income and quarterly consolidated statement ofcomprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)Six months ended
September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Gain on investments in investment partnerships
Gain on investments in silent partnerships
Other
Total non-operating income
Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on redemption of investment securities
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-6-

Six months ended
September 30, 2023

46,85024,86921,98015,762
6,218

49,72025,751
23,96917,489
6,480

85
126
1,134
99
81
145
1,673

133
125
1,072
55
85
111
1,583

48
228
13
290
7,601

54
174
15
244
7,819

23
23

19
19

31
31
7,593
2,345
203
2,548
5,044
0
5,044

10
10
7,827
2,436
92
2,529
5,298
05,298Paramount Bed Holdings Co., Ltd. (7817)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)Six months ended
September 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-7-

Six months ended
September 30, 2023

5,044

5,298

(35)
1,879
29
1,872
6,917

5221,442
15
1,979
7,278

6,917

7,278

00

Paramount Bed Holdings Co., Ltd. (7817)(3) Notes to quarterly consolidated financial statements
Notes on premise of going concern
Not applicable.
Notes on significant changes in the amount of shareholders’ equity
Not applicable.

-8-