FY2024 3Q
Results Briefing Material
June 13, 2024

Premier Anti-Aging Co., Ltd.
TSE Growth Market 4934

INDEX

01 ｜Executive Summary
02 ｜FY2024 3Q Results
03 ｜Status by Segment
04 ｜FY2024 Earnings Forecast
05 ｜Sustainability
06 ｜Appendix

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01 ｜Executive Summary

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01. Executive Summary

Executive Summary【 FY2024 3Q Results】
 Despite a decrease in company-wide sales, operating profit exceeded the
projection
 Anti-aging business saw lower sales and an operating loss Recovery business posted new records in sales and operating profit【FY2024 Full-year Forecast】
 No change to earnings forecast for FY2024
 In 4Q, plans to make future-oriented investments such as strengthening thecustomer structure and marketing investments, including sales promotion
investments, as well as take measures to strengthen our financial position
 Work together as one company to implement measures toward a lean and robust
corporate structure that can steadily generate profits even in a tough businessenvironment
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02 ｜ FY2024 3Q Results

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02. FY2024 3Q Results

Statement of income (year-on-year) Loss attributable to owners of parent significantly worsened due to posting of extraordinary loss related to impairment of softwarein progress and contract loss as well as the complete reversal of deferred tax assets during 2Q
 Although sales in newly added recovery business grew, sales in anti-aging business continued to struggle for DUO and CANADEL,
and mail order/EC and wholesale sales declined, resulting in a decrease in sales compared to the same period last fiscal year Lower sales in anti-aging business led to fall in gross profit, causing fall in operating profit. However, recovery business profit
growth and control of ad spending led to an operating profit significantly exceeding projection and the posting of a profit in 3Q（単位：百万円）

FY2023
1Q-3Q

FY2024
1Q-3Q

Increase/(decrease)

Percentagechange20,60915,439(5,170)(25.1%)└ Mail order/EC

14,43910,180(4,258)(29.5%)└ Wholesale

4,688

2,915

(1,773)(37.8%)└ Others

1,481

2,343

862

58.2%

42

3

(39)

(92.4%)

0.2%

0.0%

－

(0.2pts)

Ordinary profit (loss)

43

44

0

1.3%

Extraordinary losses

－

(908)

(908)

－

Income taxes - current

196

585

389

197.8%(153)(1,450)(1,297)－

Net sales

Operating profit (loss)
Operating profit margin (%)

Loss attributable to ownersof parent（Millions of yen)

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02. FY2024 3Q Results

Factors affecting operating profit for 3Q (cumulative) Limited SG&A compared to same period last year mostly in outsourcing and ad expenses, thus mitigating
profit declines associated with lower sales

Increase

Sales-linked
OthersDecrease（Millions of yen）

Outsourcing costs linked to sales, including
delivery costs, call center costs, etc.
Other outsourcing costs not linked to sales

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02. FY2024 3Q Results

Statement of income (quarterly comparison)
 Sales fell short of 2Q due to a decline in sales in anti-aging business, despite growth in recovery business Recovery business increased income combined with control of ad spending in anti-aging business led to theposting of an operating profit with figures much better than projection（Millions of yen）

FY2023
3Q

FY20234Q

FY20241Q

FY20242Q

FY20243Q

QonQ percentagechangeNet sales

6,351

5,790

5,264

5,385

4,789

△11.1%└ Mail order/EC

4,122

3,876

3,543

3,508

3,128

△10.8%└ Wholesale

1,586

952

1,044

949

921

△2.9%

└ Others

642

961

677

927

738

△20.3%

Gross profit

4,516

3,557

4,194

4,294

3,867

△10.0%

SG&A Expenses

4,582

4,212

4,230

4,464

3,658

△18.1%└ Advertising expenses

1,809

1,313

1,632

1,994

1,464

△26.6%└ Outsourcing

1,205

1,169

1,032

947

853

△10.0%└ Payroll and allowances

430

393

428

364

390

7.1%

└ R&D

146

212

110

103

151

47.2%

└ Others

991

1,078

1,026

1,055

798

△24.3%

Operating profit (loss)

△66

△654

△35

△169

208

－

Operating profit (％)△1.0%△11.3%

△0.7%

△3.2%

4.4%

8.1ptsOrdinary profit (loss)

△51

△674

△26

△172

243

－

Quarterly profit (loss) attributableto owners of parent

△127

△580

△35

△1,649234－

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02. FY2024 3Q Results

Advertising expenses
 Ad expenses/net sales fell from 35.3% over the same period last year to 33.0%. Standalone, the 3Q figure was 30.6%- a significant decrease from 2Q
 Ad market competition continues to intensify, but high CPO likely leveled off. Conversion rates are improving as a result ofchanging the policy to emphasize subsequent conversion rates for new customer acquisition
 Continued focus on measures to increase conversion rate and promote loyal customer retention

Breakdown of advertising expenses

CPO for mail order/EC and number of new
customer acquisitions

cf. QonQ ad expenses to net sales
FY2024 2Q）37.0％

FY2024 3Q）30.6%

 Ad expenses/net sales

35.3％

33.0％

 Customer acquisition costs/net sales

20.2％

16.0％

（Millions of yen）

clayence
CANADELDUO
OthersCPO

7,285
Others
TVCM
CAC

5,091
OthersTVCM
CAC

FY2023 1Q-3Q

FY2024 1Q-3Q

8

9

1Q

10 11 12

1

2

3

2Q
3Q
FY2023

4

5

6

4Q

7

8

9

10 11 121Q

2Q
FY2024

1

2

3

4

3Q

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02. FY2024 3Q Results

Balance sheet (year-end comparison) Large inventory write-downs in second half of FY2023. Continued controls on inventory figures.
 Addressed system impairment to dispel major balance sheet concerns, improved asset transparency andsoundness（Millions of yen）
FY20234Q

FY2024
3Q

Increase/(decrease)

PercentagechangeTotal assets

12,135

11,169(966)(8.0%)└ Current assets

9,229

8,958

(271)

(2.9%)└ Inventories ※

1,909

1,954

45

2.4%

└ Non-current assets

2,905

2,210

(694)

(23.9%)└ Intangible assets

1,511

1,055

(455)

(30.1%)

Total liabilities

4,525

5,012

486

10.8%

└ Current liabilities

3,016

3,766

750

24.9%

└ Non-current liabilities

1,509

1,245

(263)

(17.5%)

Total net assets

7,609

6,156

(1,452)(19.1%)

Total liabilities and net assets

12,135

11,169(966)(8.0%)

Equity ratio (%)

62.7%

55.1%

－

(7.6pts)＊Inventories = Finished goods + Raw materials and supplies
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03 ｜ Status by Segment

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03. Status by segment

Anti-aging business Despite growing sales of clayence as planned, DUO and CANADEL sales fell amid intensifying competition,
causing net sales to fall below last year’s levels in both mail order/EC and wholesale channels
 Fall in net sales reduced gross profit, prompting ad spending controls, but still posted an operating loss

（Millions of yen）

FY2023
1Q-3Q

FY2024
1Q-3Q

Increase/(decrease)

PercentagechangeNet sales

20,303

14,102(6,201)(30.5%)└ Mail order/EC

14,43910,180(4,258)(29.5%)└ Wholesale

4,688

2,915

(1,773)(37.8%)└ Others

1,175

1,006

(168)

(14.4%)

56

(166)

(222)

－

0.3%

(1.2%)－(1.5pts)

Operating profit (loss)
Operating profit margin (%)

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03. Status by segment

Anti-aging business (DUO)

 Cleansing market shift from balms to oil formulation and ongoing outflow to low-price balm alternatives
 Due to revised acquisition policy focused on efficiency and conversion rates, sales decline to continue, but thisis in line with projections

Results & Next Steps

Quarterly net sales of DUO

 The Cleansing Balm: No. 1 brand* in cleansing sales for the fifth consecutive year,with total cumulative shipments exceeding 50 million units as of the end of February
 Mail order/EC focus is on measures to improve retention rate and loyal customer
retention
 Continue marketing strategy leveraging Yuko Araki（Millionsof yen）

Mail order/EC

Wholesale

Others

3Q

4Q

6,000

5,000

 In retail, heighten appeal with special campaigns offering larger volume balm
packages and by strengthening sales activities in stores
 Overseas, release 7 SKUs of
DUO The Cleansing Balmunder the branding DUOPREMIER, targeting
consumers in China’s generalmarket. Roll out to top sales
1,000 stores in Mainland
China of WATSONS - Asianlargest drugstore

4,000

3,000

2,000

1,000

0
DUO PREMIER product lineup

1Q

2Q

FY2023

1Q

2Q

3Q

FY2024* TPC Marketing Research Co. Ltd. survey on cleansing by brand (Survey period：April 2019̵-March 2024/ Survey timing: April 2024)
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03. Status by segment

Anti-aging business (CANADEL)

 Advertising costs remain high in mail order/EC channel due to increased ad placement by competitors for skin careproducts, and new acquisitions are sluggish after acquisition policy revision. In retail, continued shrinkage of all-in-one
market led to lower sales than in the same period last year Two new products, "Cleansing Water" and " “Gelée Lotion (quasi-drug)," were launched in March and distribution outlets
were expanded. Various initiatives were implemented

Quarterly net sales of CANADEL

Results & Next Steps Mail order/EC: As with DUO, shifted focus of acquisition policy
to acquisition efficiency and conversion rates. Selection/
optimization of advertising media targeting acquisitions
expected to improve LTV and CPO balance Continue to promote value to customers through posts andvideos by famous beauty experts and influencers
 In retail, in addition tolinking with SNS initiatives,
we have implemented
point-based initiatives andcontinue to focus on
expanding the number ofstores stocking our new
products, "Cleansing
Water" and "Gelée Lotion(quasi-drug)"（Millions ofMail order/EC
yen）

Wholesale

Others

3Q

4Q

1,800
1,600
1,400
1,200
1,000
800
600
400
200
0

CANADEL Cleansing Water and Gelée Lotion (quasi-drug)

1Q

2Q

FY2023

1Q

2Q

3Q

FY2024

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03. Status by segment

Anti-aging business (clayence) clayence sales gradually growing and progressing as planned despite stiffer competition in the market forcolor treatments

Results & Next Steps
 Experiencing growing competition for color treatments andpersistently high advertising costs, but sales rising steadily in linewith projections
 Expanded distribution to 600 new stores for a total of 11,000
stores Focus on acquisition efficiency suppresses new acquisitions;strengthening measures to raise LTV by improving retentionrates Continued efforts to promote product understanding and correct
usage through beauty experts and influencers

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03. Status by segment

Anti-aging business (brands under cultivation)
 Running test marketing in growth categories, such as skin care for men, inner care, high-concentration
vitamin C skin care, and skin care whose core ingredient is our proprietary stem cell extract

Results & Next Steps Since SINTO VC performed well in test marketing, we havebeen strengthening influencer measures to increase newacquisitions
 Boost acquisitions through trials appealing to customer
demand for UV care from spring to summer C+mania enzyme face wash expanded to 6,300 stockists
 Utilize influencers and implement in-store promotions tobolster shopfront unit prices

 Engage power influencers to expand awareness of the
products among the beauty conscious

Marketing initiatives using SNS

LOFT Ikebukuro store in-store promotion
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03. Status by segment

Recovery business (Venex)
 Harnessed group synergies in areas of strengthened supply chain management and cultivation of new sales
channels to post record-high profit in 3Q
 Sudden spike in website access due to higher ad spending targeting brand awareness, and in April, achieved
highest ever single-month sales figures. Net sales growth contributed to record profit in 3Q（Millions of yen）＊

FY2023
1Q-3Q

FY2024
1Q-3Q

Net sales

306

1,337

Operating profit

(13)

163

(4.5%)

12.3%

Operating profit margin (%)*Our recovery business started from the 3Q consolidated accounting period of the previous consolidated fiscal year; thus, the figures fornet sales and operating profit for the FY2023 1Q-3Q period show the cumulative figures from the third quarter.

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03. Status by segment

Recovery business (Venex)
 Launched sales of “Recovery Move” (registered as general medical equipment*) – a new concept forrecuperating while on the move *excluding some products
 “Venex de Rikabaru” project with new brand ambassador Ayako Imoto had major impact on website accessResults & Next Steps
 Improved sales capability due to solid growth in online/offline sales channels
 Rewriting the narrative from old-generation common sense, which carries a senseof guilt around rest and relaxation, to a new normal by announcing the “9Declarations to Change the Thinking Around Rest and Recuperation”
 Signed new contracts with top athletes and teams
 Plan to expand communications to improve understanding of the Venex brand,
product features, benefits, efficacy, and recommended uses among newcustomers reached through our “Venex de Rikabaru” project

Hiroaki Sugimoto
Rugby League One
Kubota Spears Funabashi
TOKYO-BAY

Hiroshi Yamashita
Rugby League One
KOBELCOKOBE EELERS

Rugby League One
Kubota Spears
Funabashi TOKYO-BAY Continue to build systems to support sales growth by boosting sales capability

Arisa Sato
Kaori Maruyama
Former Japan National Team
Deaf Basketball
Volleyball player
Japan National Team player

Martial arts gym
EXFIGHTby LDH Japan

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04 ｜FY2024 Earnings Forecast

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04. FY2024 Earnings Forecast

FY2024 Earnings Forecast
 No revision to full-year earnings forecast
 In 4Q, plans to make future-oriented investments such as strengthening the customer structure and marketinginvestments, including sales promotion investments, as well as take measures to strengthen our financial position（Millions of yen）

FY2023
ActualFY2024
Forecast

Increase/(decrease)

Percentagechange26,40020,000(6,400)(24.2%)

Operating profit (loss)(611)(1,000)(388)－

Operating profit margin (%)(2.3%)(5.0%)－(2.7pts)

Ordinary profit (loss)(631)(1,000)(368)－

Profit (loss) attributable to ownersof parent(733)(2,500)(1,766)－

Net sales

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04. FY2024 Earnings Forecast

FY2024 Earnings Forecast
 Even in increasingly difficult business conditions, we will work as one company on the following measures
to establish a lean and robust corporate structure that can steadily generate profits

Rebuilding mail order/EC business

Brand management

 Improving investment efficiencyof acquisition costs
 Further improvement of CRM
measures Measures to improve customer
satisfaction

 Plans to launch new products
for fall/winter 2024 andspring/summer 2025

 Progress in the selection andoptimization of advertising media
 Conversion rate of existingcustomers showing signs ofimprovement

 Moving ahead with new products
launch preparations
 Driving brand /SKU selection andfocus towards FY2025→ Anti-aging business SKUs reduced from 63 at
end FY2023 to 50 at present

Improving cost structure Review of fixed costs (organization,
outsourcing, systems)
 Control of costs and variable
costs Company-wide project team
actively reviewing fixed costs
 Initiatives underway to strengthen
profitability

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05 ｜Sustainability

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05．Sustainability

Sustainability Initiatives

Initiatives for resolving social issues based on materialities identified in our sustainability policy
Furthering understanding and raisingawareness about sustainability
 Online information sharing about
our company’s materialities
aimed at furthering employee
understanding and raisingawareness
Pursuing a corporate culture that we build and nurture together

Study session: UNIPAL Academy
 Wishing to fully capitalize on theprofessionals in our company,
started “UNIPAL Academy” study
session in May as an opportunity
for all employees to share theirknowledge

Improving well-being

Improving health × encouraging communication
 Establishment of “Health Management
Month” to raise awareness of mental
and physical health Be it sports or culture-based,recommending activities involving
multiple departments
Providing unique value

Cosme Bank Project ongoing participation
 Continued participation since 2022
through the supply of cosmetics topeople who cannot afford to buy them
 Employees engaged in collaborative
activities again this year

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06 ｜Appendix

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06. Appendix

Company Profile
Name

Premier Anti-Aging Co., Ltd.

Established

December 2009

Head office

Toranomon Hills Station Tower 34F, 2-6-1 Toranomon, Minato-ku, Tokyo

Board
members

Kiyoshi Matsuura, President
Yoichiro Ito, Director and Managing Executive Officer, CFO
Takuyuki Fukumoto, Independent Outside Director
Sakiko Sakai, Independent Outside Director
Motoyasu Ishihara, Independent Audit and Supervisory Board Member
Akira Ide, Independent Audit and Supervisory Board Member
Yosuke Kondo, Independent Audit and Supervisory Board Member
Keigo Uemura, Executive Officer
Kiyoshi Iwakawa, Executive Officer
Yuka Uehara, Executive Officer

Consolidated
number of
employees

237 (as of April 30, 2024)

Line ofbusiness

Planning, development, import/export, mail-order/EC, wholesale
and retail business of cosmetics, health food products and recovery wearGroupcompanies

Premier Anti-Aging (Shanghai) Co., Ltd.
Venex Co., Ltd.

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06. Appendix

Corporate Identity
 In formulating our medium-term management plan, we redefine our slogan, purpose, and promise

SloganPurpose

Corporate Logo

PromiseCopyright©2024 Premier Anti-Aging Co.,Ltd.

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06. Appendix

Corporate History
2009
2010
2012
2019
2020

2021
2022
2023

2024

●

- December:

Established Premier Anti-Aging Co., Ltd. in Toranomon, Minato-ku, Tokyo●- February:

Started sales of cosmetic products with the launch of the DUO brand and began selling The Cleansing Balm through mail-order/EC
service●- July:Relocated the head office to Roppongi Hills Keyakizaka Terrace●- April:

Launched the CANADEL brand, an aging care brand for adults- October：

Cumulative sales of the DUO “The Cleansing Balm” series exceeded 10 million units- March：Relocated the head office to Toranomon Hills Mori Tower●- September ：Launched “sitrana,” a new brand for sensitive skin

- October：

Listed on the Tokyo Stock Exchange Mothers market- December：

Established Premier Wellness Science Co., Ltd.

●- February：

Established Premier Anti-Aging (Shanghai) Co., Ltd.

●

- March：Launched the “clayence” hair care brand- April：

Launched “DUO MEN,” a men’s skin care brand- January：

Launched the “SINTO” inner care brand- January：

Venex Co., Ltd. became a consolidated subsidiary- February：

Launched the “X” inner care brand- August：

Launched vitamin skin care brand “C+mania” brand- November：

Merger with Premier Wellness Science Co., Ltd.

- November：

Relocated the head office to Toranomon Hills Station Tower- February:

Cumulative sales of the DUO “The Cleansing Balm” series exceeded 50 million units●●

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06. Appendix

Key Brands and Sales Composition Ratio Skin care brands “DUO” and “CANADEL” and hair care brand “clayence” drove sales

Skin careMain brand since ourfounding. Has driven sales
for our company as apioneer in the cleansing
Salesbalm market.
composition
Launched February 2010.
ratio*2
Offering 27 SKUs*1

62％

Hair careBeing nurtured as thesecond key brand after
DUO.
Addresses needs ofcontemporary womenby saving time.
Launched April 2019.
Offering 8 SKUs*1



Sales
composition
ratio*2

19％






Applying brand nurturing know-how
gained through DUO and CANADEL.
Home hair care brand thatSales
focuses on young
composition
generation with graying
ratio*2
hair.
Launched March 2022.
％
Offering 12 SKUs*1

10*1: SKU refers to the number of regular products as of April 30, 2024, excluding limited editions and different sizes *2: Calculated based on FY2024 3Q net sales.
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06. Appendix

Net sales by channel

 Our mainstay mail order/EC sales, which we have been engaged in since our founding, account for approximately
65% of sales in 3Q of FY2024
 Wholesale sales, which are responsible for sales to retail stores such as variety shops, account for approximately
19% of sales. Number of delivery stores are approximately 18,000 stores(Millions of yen)

Mail order/EC

12,000Wholesale
Others (including overseas subsidiary)

10,000

8,000

35%
25%
27%

6,000

18%

33%

16%
28%
26%

32%

17%

21%
18%

4,000

17%

16%

22%

13%

13%

71%

85%

85%

1Q

2Q

82%

76%

4Q

1Q

20%

18%
19%

21%

2,000

25%

23%

81%

75%

76%

67%

70%

62%

78%

78%
68%

64%

68%

77%
65%

67%

67%

65%

65%

76%

0
3Q

FY20192Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY2022

4Q

1Q

2Q

3Q

FY2023

4Q

1Q

2Q

FY20243Q

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06. Appendix

Total Number of Mail-order/EC Customers
 The number of members supporting the subscription sales model has steadily increased, with the total
number of members exceeding 3.9 million(People)4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY2022

4Q

1Q

2Q

3Q

FY2023

4Q

1Q

2Q

3Q

FY2024
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06. Appendix

Number of cross-selling customers
 Cross-selling rate remained steady due to aggressive CX promotion

Number of customers who subscribe to two or more products and the relevant ratio
Number of customers who subscribe to two or more products
Ratio of customers who subscribe to two or more products

14.0%

9.7%

100,000
people

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY2022

4Q

1Q

2Q

3Q

FY2023

4Q

1Q

2Q

3Q

FY2024

Note: The number of customers who subscribe to two or more products refers to customers who are purchasing two or more product categories (e.g., balms and serums) on a regular basis.
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06. Appendix

Situation by Brand: DUO
 The core brand since inauguration, DUO continues to drive sales as the pioneer in the cleansing balm
market
DUO is an aging care brand with the concept of “nourishing the skinfrom its foundation,” created under the policy of developing highly
effective products by combining natural ingredients that are kind to
the skin, body and nature with advanced science based ondermatology.
We currently have 27 SKUs* centering on cleansing balm.

Major cosmetics awards granted in 2023

MAQUIAupPLUS July issue
September issue Everyone's Cosmetics recommended byBest Cosmetics 2023 first half beauty connoisseur STAFF &Just dropping it is not enough!
discerning buyers
Cleansing category
Skin care category cleansing
First place
First place+20 more awards*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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06. Appendix

Situation by Brand: CANADEL Being fostered as the second brand following DUO, CANADEL focuses on the busy modern women’s
needs for spending less time on skin care
Based on the concept of “continuously pursuing beauty, being true
to oneself, and enjoying life,” CANADEL is a highly advanced aging
care brand launched in April 2019 to address the changing skincare needs of mature consumers. Four types of all-in-one creams
and eye cream are currently available, taking in mind the lifestyles
of modern women proactively living busy daily lives.
We currently have 8 SKUs* centering on all-in-one cosmetics.

Major cosmetics awards granted in 2023

ESSE July issue

Beauty Trend Award 2023
Gel/Oil Department

LEE August issue

LEE Best Cosmetics 2023 First
Half
Positive Aging Award+4 more awards*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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Situation by Brand: sitrana
 A cosmetics brand for sensitive skin with cica substance* in all products

Featuring a unique anti-pollution capability, the sitrana
products protect the skin from dryness that causes skinirritation and such external stimuli as air pollution anddirt/grime. The cica substances* under our original blending
help fix the damaged skin and facilitate users to attain theirideal skin.
*Cica substances refers to the substance extracted from a plant called Centella asiatica.

Major cosmetics awards granted in 2022

MAQUIA September Issue
Everyone's Best Cosmetics
Maquia Influencers
BEST COSMETICSBAILA August issue

Best Cosmetics Grand Prize
for Working 30s
in the first half of 2022
Skin Care Category Award+4 more awards
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Situation by Brand: clayence A home hair care brand that focuses on young generation with graying hair, clayence was developed byapplying the brand nurturing know-how gained through DUO and CANADEL
A hair care brand inspired by a clay spa, clayence wascreated by combining the power of clay and cutting-edge
science to provide hair and scalp treatment while coloringgray hair. With calming aroma on top of carefully selectedclay and beauty substances, the product transforms tedioushair care into luxurious time at the spa.
We currently have 12 SKUs*.

Major cosmetics awards granted in 2023

MAQUIA January issue
VOCE March issue
Best cosmetics
Bath beauty is the bestin the second half of 2023
in time performance!
Shampoo & Conditioner Category
VOCE Bath Best cosmetics
First place
Shampoo & Treatment Category
First place+21 more award*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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Situation by Brand: DUO MEN With DUO men, we newly entered the fast-growing men’s cosmetics market by taking advantage of the highawareness of DUO brandWhile staying true to DUO’s brand concept of “Beauty is reborn
from skin care,” we took a close look at skin problems anddamage specific for men from the viewpoint of ecological andbiological science. DUO MEN offers secure and effective skincare requiring only a few easy steps, allowing all men living
busy lives to continue skin care in an enjoyable way.
We currently have 5 SKUs*.

Major cosmetics awards granted in 2023

MEN’S NON-NO
December issue

MEN’S NON-NO
December issue

Men's Non-No Beauty Award 2023 Men’s Non-No Beauty Award 2023
All-in-one Category
Face Wash Category
2nd place
2nd place+5 more award*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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Situation by Brand: SINTO/X
 Developing two inner care brands based on the development philosophy of “response with results”

Based on the idea that bodily sensations are the essence of supplements, we

Aiming to support the creation of an ideal body, it was born under the lead of aadopted the same DDS technology as in the medical field. Thoroughly sticking

food health instructor certified by the Japan Health and Nutrition Foodto the "experience" of the ingredients, we aim to renew the relationship

Association. We propose optimal supplements (functional foods) that match thebetween the body and the ingredients from the area of "penetration". It is a

two styles of “those who want to incorporate exercise” and “those who want tohealth care supplement for adults who enjoy aging that pursues a highimprove their eating habits” to support body fat reduction.

experience with a high amount of compounding (high compounding) and highabsorption and high penetration type (liposomes).
We currently have 2 SKUs*.

We currently have 2 SKUs*.

Major cosmetics awards
granted in 2023

Biteki.com
November 22nd issue

LEE Jan/Feb issue

LEE Best Cosmetics Award
2nd half of 2023
Beauty Sage’s
Beloved Cosmetics Award
Inner care category

Biteki HEN 2023
Best cosmetics of the year
Biteki HEN Annual Sage
Inner care ranking
First place +15 more awards*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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Situation by Brand: C+mania
 A high-concentration vitamin skin care brand for “consumers with high beauty information literacy” whopursue reliable effects
An “aggressive” vitamin skin care brand that focuses on highpurity, high penetration, and high concentration, with carefully
selected vitamin C from over 70 types and add α that enhances C.
Based on the concept of "enjoying vitamin C for maniacs", we aim
to propose skin care products with high immediate effect in orderto maximize the power of vitamin C.
We currently have 3 SKUs*.

Major cosmetics awards granted in 2023

an・an No. 2365

LEE January/February issue2023 Autumn Anan Mote
Close to your skin and feelings
Cosmetics AwardLEE Best Cosmetics Award 2023 Second HalfSkin care category
Cleansing/Facial Wash Award
The power of VC that everyone loves+13 more award
An award you can feel*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.

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Situation by Brand : Reinca
 A skin care brand that uses a unique stem cell extract as a core ingredient created through joint researchwith the University of Tokyo

Based on the brand concept of “Facing the sourceof skin and sensibility with the power of SKIN &SENSE science,” we advocate skin cell care bornfrom advanced skin research and care for the fivesenses that pursues the comfort of physicalsensations.
We have developed a brand based on our original
dental pulp stem cell culture supernatant "ENGY
Stem S", which was successfully commercialized
through joint research with the University of Tokyo.
We currently have 5 SKUs*.

*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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Situation by Brand : Ko
 A brand with CBD (cannabidiol) as a key ingredient, which has a wide range of usefulness in beauty andhealthFocusing on the human endocannabinoid system(ECS) and circadian rhythm. The key ingredient CBD(cannabidiol) supports daily rhythms and helps
maintain a healthy mind and body. To ensure thesafety and transparency of CBD raw materials, wehave introduced a traceability system that allows
inspection, identification, and tracking through a
combination of lot number and serial number
identifiers.
We currently have 3 SKUs*.

*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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06. Appendix

Situation by Brand: VENEX As a pioneer in the recovery field, Venex has developed products using fabrics made with its uniquepatented technology

Based on the concept of "maximizing the self-healing
power that humans have," we propose clothing forrecovery. With our proprietary special fiber "PHT
(Platinum Harmonized Technology)" and a noncompression design that does not constrict the body, it
supports high-quality recovery just by wearing it.
We currently have 84 SKUs*.

*The SKU figure refers to the number of regular products as of April 30, 2024, excluding limited items and different sizes.
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06. Appendix

Market Size of the Domestic Cosmetics Market
 The domestic cleansing market, which includes balms, totaled 139.0 billion yen in 2023
Supplements

Cosmetics

H/B foods market(functional foods)
1,065.1 billion yen*²

MakeupSkin care
Face wash

Cleansing

PowderFoam

Makeup

Solid soap

Balm
Toner
Moisturizer

Cosmetics market
2,931.0 billion yen*¹(of which the
men’s market is159.3 billion yen*¹)
Skin care market
1,351.9 billion yen*³

Cleansing market
139.0 billion yen*³

Hair care
Shampoo
Conditioner
Scalp care
Hair care/hair makeup
market 662.0
billion yen*¹

Color treatment

Face wash market
127.8 billion yen*³

All-in-one
Moisturizing
Whitening
UV whitenoning
Emulsion

BoosterWhitening
Moisturizing

All-in-one market
133.7 billion yen*³

Essence

Note: Gray circles indicate the markets, and red boxes represents our products.
Source: "Cosmetics Marketing Handbook 2024 No. 1", "Cosmetics Marketing Handbook 2023 Overview", "H/B Foods Marketing Handbook 2023 <Overview>" by Fuji Keizai.
*¹ The figures for cosmetics market, men's market, and hair care/makeup market are actual figures for 2022. *² *H/B foods markets figures are estimates for 2022. Copyright©2024 Premier Anti-Aging Co.,Ltd.
*³ The figures for the skin care market, cleansing market, face wash market, and all-in-one market are actual figures for 2023.

4206. Appendix

Domestic Market Size for Cosmetics and Skin Care The domestic cosmetics market, which declined significantly due to the COVID-19 pandemic, has been recoveringslowly since 2020
Trends in the domestic market sizefor cosmetics and skin care(100 million yen)

35,000COVID-19
OutbreakSkin care
Cosmetics market excluding skin care

30,00025,000Cosmetics market excluding skin care
CAGR 1.41%(2015-2023)

20,00015,00010,000Skin care market
CAGR 0.88%(2015-2023)

5,000

0
2015

2016

2017

2018

2019

2020

2021

2022

2023

(Estimate)2024(Forecast)

2025(Forecast)

Source: “Cosmetics Marketing Handbook 2023 Overview” by Fuji Keizai
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06. Appendix

Domestic Market Size for Cleansing Domestic cleansing market plummeted due to disappearance of inbound demand caused by COVID-19
 The position of cleansing has changed from makeup remover to skin care product, and the market has been
gradually expanding since 2021
Trends in the domestic market size for cleansing

COVID-19
Outbreak

100 million yen 1,600

1,400
1,200
1,000
800

120.7 billion yen →147.5 billion yen
22％UP（2014-2019）

600

128.2 billion yen →139.0 billion yen
8%UP（2020-2023）

400
200
0
2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

(Estimate)(Forecast)(Forecast)

Source: “Cosmetics Marketing Handbook 2024 No. 1” by Fuji Keizai
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06. Appendix

Domestic Market Size for All-in-one Cosmetics
 A product that promotes the ability to complete skin care after washing face with just one item
 Market size remains stable
Trends in the domestic market size for all-in-one cosmetics(100 million yen)

1,400

1,380

1,360

1,340

135.0 billion yen →134.9 billion yen（2021-2024）

1,320

1,300

1,280

1,260
2021

2022

Source: “Cosmetics Marketing Handbook 2024 No. 1” by Fuji Keizai

2023

2024
(Estimate)
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06. Appendix

Domestic Market Size for Hair Color and Female Scalp Care The hair color market remains strong from 2022 onwards, with the entry of highly convenient color
treatments for gray hair The female scalp care market has expanded rapidly since the COVID-19 outbreak due to increased time athome and heightened awareness of scalp care
Trends in the domestic market size for hair color

Trend in the domestic market size for female scalp care(100 million yen)(100 million yen)

700

2,000
1,800

600

1,600
500

1,400
1,200

400

1,000
300

800

148.2 billion yen →166.1billion yen
12％UP（2020-2023）

600
400

32.0 billion yen → 56.2 billion yen
76％UP（2020-2023）

200
100

200
0

0
2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

(Estimate)(Forecast)(Forecast)

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

(Estimate)(Forecast)(Forecast)
Source: “Cosmetics Marketing Handbook 2023 No. 2” by Fuji Keizai

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06. Appendix

Domestic Market Size for Functional Food and Recovery Wear

 The functional food market has been performing well due to increasing demand for health since the COVID-19
outbreak The recovery market is expected to grow approximately 3.6 times from 2019, and the rest solution (clothing) is
expected to grow approximately 6.5 times
Trends in the domestic market size for functional foodDomestic market size for recovery wear

(100 million yen)

12,000Total recovery market

3.9 ⇒ 14.1trillion yen

10,000（2019）

8,000

6,000

4,000

1.0075 trillion yen→1.0882 trillion yen
8％UP（2020-2023）

2,000

0
2014

2015

2016

2017

2018

2019

2020

Source: “H/B Foods Marketing Handbook 2023 <Overview>" by Fuji Keizai

2021

2022

2023

(Estimate) (Forecast)（2030）

Recovery market (clothing)
86.7 ⇒ 564.2 billion yen＊Rest Week Promotion Secretariat: "In collaboration with the Kanagawa Prefecture Meibyou Industry ResearchGroup, we estimate the market size of the three elements of health, ``recovery,'' for the first time in Japan.
The recovery market in 2030 will be worth 14.1 trillion yen."

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06. Appendix

Brand Share for Cleansing (Balm type) and All-in-one Cosmetics
 Established a competitive position with cleansing (balm type) by DUO and all-in-one by CANADEL
Cleansing (Balm type)
Premier AntiAging

All-in-one
55.5%

11.3%

A

16.5%

A
B

5.4%

B

4.1%

C

5.3%

C

3.9%

D

5.0%

D

2.7%

E

E

2.5%

Premier AntiAging

3.8%

F

2.1%

F

3.5%

G

1.8%

H

2.8%

H

1.4%

G

2.6%

I

1.3%

I

Source: “Cosmetics Marketing Handbook 2024 No. 1” Cleansing <Balm: Brand Share> 2023 by Fuji Keizai

4.3%

2.1%

Source: “Cosmetics Marketing Handbook 2024 No. 1” Moisture <All-in-one: Brand Share> 2023 by Fuji Keizai

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06. Appendix

Basic Sustainability Policy In April 2023, we established the "Basic Sustainability Policy," which describes our group's basic approach tosustainability～Enabling unique pathways through life～
Untether time.
As humanity approaches the era of 100-year live spans,
we aim to create a world where every individual canpursue new challenges with confidence and curiosity,
free from preconceived notions of age and gender.
Working together with our stakeholders, we will thinkoutside the square to provide unique value that canchange the world, addressing social issues for a brighter,sustainable future.
Copyright©2024 Premier Anti-Aging Co.,Ltd.

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06. Appendix

Materiality and Goals
 Identified five materiality as themes that should be prioritized to improve corporate value and set initiatives andtargets

Copyright©2024 Premier Anti-Aging Co.,Ltd.

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Disclaimers and Notes on Forecasts and Projections

 The document and information provided in our results briefing include forward-looking statements,
which are based on our current expectations, forecasts and assumptions involving risks. As such, there
are uncertainties that may cause actual results to practically differ from what are described in suchstatements.
 These risks and uncertainties include general industry and market conditions as well as generaldomestic and international economic conditions such as interest rate and currency exchange rate
fluctuations.
 The Company considers cosmetics market trends to be a major risk that may materially impact its
growth and execution of business plans. However, the Company endeavors to mitigate such risks andmaintain the competitive edge of its products by actively conducting promotions and understanding
customers’ potential needs to reflect on product planning. For other types of risks, please refer to the“Business Risks, etc.” as highlighted in our Securities Report.

Contact: Corporate Communication Division
E-mail ：ir@p-antiaging.co.jp

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