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.

June 14, 2023

Consolidated Financial Results
for the First Nine Months of the Fiscal Year Ending July 31, 2023
(Under Japanese GAAP)

Company name: Premier Anti-Aging Co., Ltd.
Listing exchange: Tokyo Stock Exchange
Securities code:
4934
URL:
https://www.p-antiaging.co.jp/en
Representative:
Kiyoshi Matsuura, President
Inquiries:
Yuka Uehara, Head of Corporate Communication Division and Executive OfficerPhone:+81-3-3502-2020
Scheduled date to file quarterly securities report:
June 14, 2023
Scheduled date for commencing dividend payments:
Preparation of supplementary materials on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes (for institutional investors and analysts)(Amounts are rounded down to the nearest million yen, unless otherwise noted)

1. Consolidated financial results for the first nine months of the fiscal year ending July 31, 2023 (fromAugust 1, 2022 to April 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended(Percentage figures indicate year-on-year changes)

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

April 30, 2023

20,609(20.4)

42(97.8)43(98.0)(153)-April 30, 2022

25,8969.0

1,957(55.8)

2,141(51.5)

1,222(56.8)

Note: Comprehensive income

Nine months ended April 30, 2023:
Nine months ended April 30, 2022:

Basic earnings per share
Nine months ended(165) million yen [ - %]1,248 million yen [ (55.9) %]Diluted earnings
per share

Yen

April 30, 2023%

Yen(17.58)-April 30, 2022
140.18139.97
Note: Although there are dilutive shares, diluted earnings per share for the nine months ended April 30, 2023 is not indicated due tonet loss per share for the nine months ended April 30, 2023.

(2) Consolidated financial position
Total assets
As ofNet assets

Equity ratio

Millions of yen

Millions of yen

April 30, 2023

13,262

8,182

61.7

July 31, 2022

12,300

8,348

67.9

Reference:

Total shareholders’ equity
As of April 30, 2023:
As of July 31, 2022:

8,182 million yen
8,348 million yen%

2. Cash dividends
Annual dividends per share

Fiscal year ended
July 31, 2022
Fiscal year ending
July 31, 2023

End of first quarterEnd of second quarterEnd of third quarter

Yen

Yen

Yen

-0.00--0.00--

Fiscal year-endTotal

Yen

Fiscal year ending
July 31, 2023
(Forecast)

Yen

0.00

0.00

0.00

0.00

Note: Revisions to the most recently announced cash dividends forecast: None

3. Consolidated earnings forecasts for the fiscal year ending July 31, 2023 (from August 1, 2022 to July 31,2023)(Percentage figures indicate year-on-year changes)
Net sales
Millions of yen

Operating profit% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen

Full year
26,500 (21.9)(720)
Note: Revisions to the most recently announced earnings forecast: Yes(710)

Basic earnings
per share% Millions of yen%Yen--(82.57)(720)* Notes(1) Changes in significant subsidiaries during the current period (changes in specified subsidiaries resulting in change in scope ofconsolidation): None(Note) Venex Co., Ltd., whose shares were acquired on January 31, 2023, has been included in the scope of consolidation from thesecond quarter of the current fiscal year, although it does not fall under the category of change in specified subsidiary.
(2) Adoption of accounting treatments specific to the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates, and restatementsi.
Changes in accounting policies due to revisions to accounting standards, etc.: Yesii.
Changes in accounting policies other than those in i. above: Noneiii.
Changes in accounting estimates: Noneiv.
Restatements: None(Note) For details, please refer to "2. Quarterly consolidated financial statements and major notes (3) Notes to quarterly
consolidated financial statements (Changes in accounting policies)" on page 7 of the attached document.
(4) Number of shares issued and outstanding (common shares)i.
Number of shares issued and outstanding at the end of the period (including treasury shares)
As of April 30, 20238,720,534 sharesii.

As of July 31, 2022
Number of treasury shares at the end of the period
As of April 30, 2023

iii.

As of July 31, 2022
155 shares
Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended April 30, 2023
8,720,379 shares
Nine months ended April 30, 2022

8,720,534 shares
155 shares

8,720,216 shares* The report on quarterly financial results is not subject to audit procedures by a certified public accountant or an auditing firm.
* Explanation regarding appropriate use of earnings forecasts, and other notes
The earnings outlook and other forward-looking statements contained in this document are based on information currently available
to, and certain assumptions that are deemed to be reasonable by the Company. Such statements are not intended as a promise by theCompany that they will be achieved. Actual results may differ from the forecasts in this document due to various factors. For theconditions forming the assumptions used in forecasting earnings and precautions regarding the use of earnings forecasts, please refer
to “1. Qualitative information for the first nine months of the fiscal year ending July 31, 2023, (3) Forward-looking information
including consolidated earnings forecasts” on page 3 of the Attachment.

Contents of Attachment

1．

2.

Qualitative information for the first nine months of the fiscal year ending July 31, 2023 …..………………
(1) Consolidated financial results …..……………………………………………………………………
(2) Consolidated financial position ………..……………………………………………………………..
(3) Forward-looking information including consolidated earnings forecasts ……………………………
Quarterly consolidated financial statements and major notes ……………………………………………...
(1) Quarterly consolidated balance sheet …………………………………………………………………
(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income…
Consolidated statement of income
Nine months ended April 30, 2023 ……………………………………………………………..……
Consolidated statement of comprehensive income
Nine months ended April 30, 2023 ……………..……………………………………………………
(3) Notes to quarterly consolidated financial statements ………………….……………………………..
(Changes in scope of consolidation or scope of application of equity method) ………………………
(Notes on going concern assumption) ………………………………………………………………..
(Notes when there are significant changes in amounts of equity) ……………………………………..
(Application of accounting treatments specific to the preparation ofquarterly consolidated financial statements) ………………………………………………………...
(Changes in accounting policies) ……………………………………………………………………..
(Segment information, etc.) …………………………………..………………………………………

12223445567777777

1. Qualitative information for the first nine months of the fiscal year ending July 31, 2023

(1) Consolidated financial results
In the first nine months of the fiscal year ending July 31, 2023, the Japanese economy showed signs of weakness insome areas, but economic activity gradually returned to normal, and the economy gradually recovered. Regarding theoutlook for the economy, it is expected that the economy will continue to recover due to the effects of variousgovernment policies under the COVID-19 pandemic. In the domestic cosmetics market, the removal of the obligation
to wear masks from March and the reduction of COVID-19 to category 5 from May have led to an increase in thenumber of people taking off masks in the streets, and demand for cosmetics continues to recover. However, as theglobal financial tightening continues, there is a risk that a downturn in overseas economies will put downward pressure
on the Japanese economy, and we need to pay close attention to the effects of price increases, supply-side constraints,and fluctuations in financial and capital markets.
Under such circumstances, Premier Anti-Aging Co., Ltd. (“the Company”) and its consolidated subsidiaries (“theGroup”) have been committed to “being unique” since establishment and have been striving to expand its core
cosmetics business by combining our strengths in “product planning capability” and “marketing capability” with our“subscription sales model.” In addition, the Company has promoted the expansion of business areas related to antiaging, such as newly entering the inner care business and the recovery business.
In order to stop the decline of the main brand “DUO”, the Company has been implementing various measures by rollingout new TV commercial “King of Balm” from February this year, introducing a new limited product “DUO The
Kingdom Cleansing Balm”, and strengthening the approach to existing customers. However, both mail-order sales andwholesale sales declined due to continued intensification of competition in the cleansing market and balm formulations,as well as low level of new customer acquisitions remained since new acquisition measures to further improve LTV
were not as effective as expected. From May of this year, the Company continues to bolster the “DUO” brand, including
the introduction of a new product, Matcha (Green Tea) Balm, aimed at capturing inbound demand.
The "CANADEL" brand continued to steadily increase sales centered on the highly appealing quasi-drugs “PremierBarrier Fix” and “Premier White.” The Company aims to maximize the number of new customers by deploying therenewal product of "Premier Lift" as a quasi-drug through the mail-order channel.
The Company has been increasing the recognition of the “clayence” brand through a media mix strategy that utilizes
mass marketing such as TV commercials and is working to expand sales through mail-order and wholesale sales
channels. LTV of “clayence” is on an upward trend currently due to aggressive cross-selling measures, and theCompany is strengthening new customer acquisitions. The Company will strive to develop “clayence” as acomprehensive hair care brand by introducing gray hair color quasi-drugs and developing new scalp care series.
As a result of the above activities, net sales in the first nine months ended April 30, 2023 amounted to 20,609,823
thousand yen (down 5,287,067 thousand yen year-on-year), operating profit was 42,547 thousand yen (down 1,914,942
thousand yen year-on-year), ordinary profit was 43,447 thousand yen (down 2,098,185 thousand yen year-on-year),and loss attributable to owners of parent was 153,280 thousand yen (profit attributable to owners of parent of 1,222,406
thousand yen in the same period of the previous fiscal year).
Note that descriptions by segment are omitted, as the Group is engaged in the manufacturing and sales of cosmetics
and other businesses, but other businesses are not important in monetary terms.
(2) Consolidated financial position
Assets, liabilities and net assets at the end of the third quarter of the current fiscal year were as follows.
(Assets)
Total assets at the end of the third quarter of the current fiscal year increased by 961,730 thousand yen from the end of
the previous fiscal year to 13,262,177 thousand yen. The main factors of increase and decrease were as follows.
Current assets decreased by 187,948 thousand yen from the end of the previous fiscal year to 11,328,984 thousand yen.
This was mainly due to an increase of 1,474,755 thousand yen in cash and deposits, a decrease of 811,128 thousand
yen in accounts receivable - trade, a decrease of 1,306,279 thousand yen in finished goods, and an increase of 378,976
thousand yen in receivable income taxes, etc. included in current assets “other”.
2

Non-current assets increased by 1,149,678 thousand yen from the end of the previous fiscal year to 1,933,193 thousand
yen. This was mainly due to an increase of 446,403 thousand yen in software in progress included in intangible assets“other” and an increase of 547,893 thousand yen in goodwill.
(Liabilities)
Total liabilities at the end of the third quarter of the current fiscal year increased by 1,126,978 thousand yen from theend of the previous fiscal year to 5,079,406 thousand yen.
Current liabilities increased by 301,838 thousand yen from the end of the previous fiscal year to 3,522,380 thousand
yen. This was mainly due to an increase of 346,000 thousand yen in short-term borrowings.
Non-current liabilities increased by 825,139 thousand yen from the end of the previous fiscal year to 1,557,026
thousand yen. This was mainly due to an increase of 741,048 thousand yen in long-term borrowings.
(Net Assets)
Net assets at the end of the third quarter of the current fiscal year decreased by 165,248 thousand yen from the end of
the previous fiscal year to 8,182,771 thousand yen. This was mainly due to recording loss attributable to owners ofparent of 153,280 thousand yen.
As a result, the equity ratio was 61.7%.
(3) Forward-looking information including consolidated earnings forecasts
We have revised the full-year earnings forecasts for the fiscal year ending July 31, 2023, based on currently available
information and forecasts, taking into consideration sales trends for cosmetics, the Group's main sales products, andthe progress of our business performance in the first nine months of the current fiscal year. For details, please refer tothe "Notice Concerning Revision of Earnings Forecasts" separately released today (June 14, 2023).

3

2. Quarterly consolidated financial statements and major notes(1) Quarterly consolidated balance sheet(Thousands of yen)
As of July 31, 2022

As of April 30, 2023

AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeFinished goods
Raw materials and supplies

2,973,269
3,071,846
3,784,814
576,394

4,448,024
2,260,718
2,478,535
652,927

Other

1,110,607

1,488,777

Total current assets

11,516,933

11,328,984

110,246

129,020

Non-current assets
Property, plant and equipment
Intangible assets
Goowill-547,893

Other

266,267

841,818

Total intangible assets

266,267

1,389,712

Investments and other assets

407,000

414,460

Total non-current assets

783,514

1,933,193

12,300,447

13,262,177

435,845
390,000
322,114
1,568,285
165,723
18,607393,054736,000
369,948
26,6001,297,350
31,681
27,725319,964

640,020

Total current liabilities

3,220,541

3,522,380

Non-current liabilities
Bonds payable
Long-term borrowings

701,11476,6001,442,162

Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Current portion of bonds payable
Accounts payable - other
Income taxes payable
Provision for bonuses
OtherAsset retirement obligations

30,772

38,264

Total non-current liabilities
Total liabilities

731,886

1,557,026

3,952,427

5,079,406

1,351,544
1,351,544
5,622,227

1,351,544
1,351,544
5,468,946(1,313)(1,313)8,324,004

8,170,723

24,016

12,048

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment

24,016

12,048

Total net assets

Total accumulated other comprehensive income8,348,020

8,182,771

Total liabilities and net assets

12,300,447

13,262,177

4

(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income(Quarterly consolidated statement of income)(Nine months ended April 30, 2023)(Thousands of yen)
Nine months ended April 30, 2022

Nine months ended April 30, 2023

(From August 1, 2021

(From August 1, 2022

to April 30, 2022)

to April 30, 2023)

Net sales

25,896,891

Cost of sales

5,235,023

4,924,828

Gross profit

20,661,867

15,684,995

Selling, general and administrative expenses

18,704,377

15,642,447

Operating profit

1,957,490

42,547967
35,693
134,174
-

1,168
5,780

Miscellaneous income

28,12015,180Total non-operating income

198,956

22,128Non-operating expenses
Interest expenses
Loss on currency exchange

11,674-

12,446
7,904

Non-operating income
Interest income
Surrender value of insurance policies
Profit on currency exchange
Commission received

20,609,823

Miscellaneous losses

3,138

877

Total non-operating expenses

14,813

21,228

Ordinary profit

2,141,632

43,447

Profit before income taxes2,141,632

43,447

Income taxes - current

919,225

196,728

Profit (loss)

1,222,406(153,280)

Profit (loss) attributable to owners of parent

1,222,406(153,280)

5

(Quarterly consolidated statement of comprehensive income)(Nine months ended April 30, 2023)(Thousands of yen)
Nine months ended April 30, 2022

Nine months ended April 30, 2023

(From August 1, 2021

(From August 1, 2022

to April 30, 2022)

to April 30, 2023)

Profit (loss)
Other comprehensive income
Foreign currency translation adjustment

1,222,406(153,280)

25,599(11,967)

Total other comprehensive income

25,599(11,967)

Comprehensive income

1,248,005(165,248)

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,248,005(165,248)6

(3) Notes to quarterly consolidated financial statements(Changes in scope of consolidation or scope of application of equity method)
Venex Co., Ltd. was included in the scope of consolidation as it was acquired during the second quarter of the fiscal
year ending July 31, 2023. Since December 31, 2022 was set as the deemed acquisition date, the statement of income
is consolidated from the third quarter of the fiscal year ending July 31, 2023.
In addition, there are no material changes to the scope of application of the equity method.
(Notes on going concern assumption)
Not applicable(Notes when there are significant changes in accounts of equity)
Not applicable(Application of accounting treatments specific to the preparation of quarterly consolidated financial statements)(Calculation of income tax expense)
Income tax expenses are calculated by reasonably estimating the effective tax rate after applying tax effect accounting
to profit before income taxes for the fiscal year, including the third quarter, and multiplying profit before income taxes
by the estimated effective tax rate.
(Changes in accounting policies)(Application of implementation guidance on accounting standard for fair value measurement)
The "Implementation Guidance on Accounting Standard for Fair Value Measurement" (ASBJ Guidance No. 31, June17, 2021, the “Implementation Guidance on Accounting Standard for Fair Value Measurement”) is applied from thebeginning of the first quarter of the fiscal year ending July 31, 2023, and in accordance with the transitional treatment
set forth in Paragraph 27-2 of the Implementation Guidance on Accounting Standard for Fair Value Measurement, theGroup has decided to apply prospectively the new accounting policies established by the Implementation Guidance on
Accounting Standard for Fair Value Measurement. This change has no impact on the quarterly consolidated financialstatements.
(Segment information, etc.)(Segment information)
This information is omitted as the Group is engaged in the manufacturing and sales of cosmetics and other businesses,
but other businesses are not important in monetary terms.

7