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.

December 14, 2022

Consolidated Financial Results
for the First Three 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 Officer
Phone:+81-3-3502-2020
Scheduled date to file quarterly securities report:
December 14, 2022
Scheduled date for commencing dividend payments:
Preparation of supplementary material 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 three months of the fiscal year ending July 31, 2023 (fromAugust 1, 2022 to October 31, 2022)(1) Consolidated operating results (cumulative)
Net sales(Percentage figures indicate year-on-year changes)

Operating profit

Profit attributable toowners of parent

Ordinary profit

Three months ended

Millions of yen%

Millions of yen

October 31, 2022

7,391

(25.1)

(244)

-

(224)

-

(198)

-

October 31, 2021

9,865

-

2,074

-

2,132

-

1,320

-

Note: Comprehensive income%

Three months ended October 31, 2022:
Three months ended October 31, 2021:

Basic earnings per share

Millions of yen%

Millions of yen%(194) million yen [ - %]1,344 million yen [ - %]Diluted earnings
per share

Three months ended

Yen

October 31, 2022

(22.71)-

October 31, 2021

151.43151.19Yen

Note: Premier Anti-Aging Co., Ltd. (“the Company”) started preparation of quarterly consolidated financial statements from the firstsix months of the fiscal year ended July 31, 2021. Accordingly, the rate of year-on-year change for the three months ended
October 31, 2021 is not indicated.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity ratio

Millions of yen

Millions of yen

October 31, 2022

12,483

8,153

65.3

July 31, 2022

12,300

8,348

67.9

Reference:

Total shareholders’ equity
As of October 31, 2022:
As of July 31, 2022:

8,153 million yen
8,348 million yen%

2. Cash dividends
Annual dividends per share
End of firstquarter

End of second
quarter
Yen

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

End of third quarter

Yen-

Fiscal year-end

Yen

Total

Yen

Yen

0.00

-

0.00

0.00

0.00

-

0.00

0.00

-

Fiscal year ending
July 31, 2023
(Forecast)

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 for full year and for six months)
Net sales
Millions of yen

Six months ending
January 31, 2023

Operating profit% Millions of yen

14,500 (19.3)-

Profit attributable toowners of parent

Ordinary profit% Millions of yen-

Full year
30,000 (11.5)
1,500 (37.9)
Note: Revisions to the most recently announced earnings forecasts: Yes% Millions of yen

20 (99.1)
1,520 (40.9)

Basicearnings per
share

%

Yen

-

(6.88)

820 (42.4)

94.03

(60)

* Notes(1) Changes in significant subsidiaries during the current period (changes in specified subsidiaries resulting in change in scope of
consolidation): None
(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 October 31, 2022
8,720,534 sharesii.

As of July 31, 2022
Number of treasury shares at the end of the period
As of October 31, 2022

iii.

As of July 31, 2022
155 shares
Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended October 31, 2022
8,720,379 shares
Three months ended October 31, 2021

8,720,534 shares
155 shares

8,719,911 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 three 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．

Qualitative information for the first three 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 …………………………….

2.

Quarterly consolidated financial statements and major notes ……………………………………………...
(1) Quarterly consolidated balance sheet …………………………………………………………………
(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income….
Quarterly consolidated statement of income
Three months ended October 31, 2022 ..……………………………………………………………
Quarterly consolidated statement of comprehensive income
Three months ended October 31, 2022 …..…………………………………………………………..
(3) Notes to quarterly consolidated financial statements ….……………………………………………...
(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.) …………………………………………………………………………..

1

2
2
2
3
4
4
5
5
6
7
7
7
7
7
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1. Qualitative information for the first three months of the fiscal year ending July 31, 2023
(1) Consolidated financial results
In the first three months of the consolidated fiscal year ending July 31, 2023, the Japanese economy saw gradualnormalization of economic activities due to the spread of vaccines, and a gradual recovery in domestic consumer
spending. On the other hand, prices of various consumer goods were being raised, making it difficult to predict the
impact, including future consumption trends. Price hikes in a wide range of fields will hinder a full-fledged recovery
in demand for consumer goods that rely heavily on preference, and it is expected that a full-fledged recovery in thedomestic cosmetics market will continue to take time.
Under such circumstances, Premier Anti-Aging Co., Ltd. (“the Company”) and its consolidated subsidiaries (“theGroup”) have been committed to “being unique” since its establishment and have promoted the expansion of anti-aging
related business by launching multiple brands in new categories by combining our strengths in “product planningcapability” and “marketing capability” with our “subscription sales model.”Sales of the “DUO” brand decreased in both mail order and wholesale sales channels due to the calming down of theboom for record-setting “DUO The Cleansing Balm Black Repair” and the continued intensification of competition in
the cleansing market and balm formulations. Although sales in the cleansing market as a whole is on a flattening trend,
intensifying competition is driving a shift from balm formulations to oil and gel formulations. In addition, among balm
formulations, “DUO” continued to struggle due to the introduction of a series of inexpensive balm products bycompetitors. Under these circumstances, the Company is trying to bolster sales by rolling out new TV commercials
from September and launching a new product, “DUO The Cleansing Balm Hot.”
In the “CANADEL” brand, the Company has steadily increased sales of unique new products including “CANADEL
Premier Zero” and “CANADEL Barrier Fix.” In the first three months of the previous fiscal year, new customer
acquisitions were restrained due to the impact of advertising regulations. However, this fiscal year, we are actively
investing in advertising and achieving a high level of new customer acquisitions. In September, we launched refill
products, and from October, we are developing promotions centered on new commercials, aiming to expand to the main
target segment of the all-in-one cosmetics market.
The “clayence” brand, launched in March, continued to attract new customers at a higher level than “DUO” and“CANADEL.” The Company expanded sales of “clayence” to retail outlets in line with the roll out of TV commercials
in October, and completed distribution to 8,000 retail outlets by the end of October. Until the previous fiscal year, it
was sold through mail order alone, but through a media mix strategy that utilizes mass marketing such as TVcommercials, it has further increased its recognition, and sales is growing in both mail order and wholesale sales
channels.
As a result of the above activities, net sales in the three months ended October 31, 2022 amounted to 7,391,604 thousandyen (down 2,474,145 thousand yen year-on-year), operating loss was 244,294 thousand yen (operating profit of
2,074,797 thousand yen in the same period of the previous year), ordinary loss was 224,861 thousand yen (ordinary
profit of 2,132,204 thousand yen in the same period of the previous year), and loss attributable to owners of parent was
198,039 thousand yen (profit attributable to owners of parent of 1,320,414 thousand yen in the same period of theprevious year).
Note that descriptions by segment are omitted, as the Group has a single business segment engaged in manufacturing
and sales of cosmetics.
(2) Consolidated financial position(Assets)
Total assets at the end of the first three months of the current fiscal year increased by 182,693 thousand yen from theend of the previous fiscal year to 12,483,140 thousand yen. The main factors of increase and decrease were as follows.
Current assets increased by 48,454 thousand yen from the end of the previous fiscal year to 11,565,387 thousand yen.
This was mainly due to a decrease of 343,523 thousand yen in accounts receivable - trade, an increase of 26,121
thousand yen in cash and deposits, an increase of 297,130 thousand yen in prepaid expense included in investments
and other assets and an increase of 67,919 thousand yen in accrued consumption taxes.
Non-current assets increased by 134,238 thousand yen from the end of the previous fiscal year to 917,752 thousand2

yen. This was mainly due to a decrease of 14,708 thousand yen in property, plant and equipment, an increase of 128,435
thousand yen in intangible assets due to investment in software, etc. and an increase of 20,511 thousand yen in
investments and other assets due to deferred tax assets, etc.
(Liabilities)
Total liabilities at the end of the first three months of the current fiscal year increased by 377,433 thousand yen fromthe end of the previous fiscal year to 4,329,861 thousand yen. The main factors of increase and decrease were as follows.
Current liabilities increased by 434,263 thousand yen from the end of the previous fiscal year to 3,654,804 thousand
yen. This was mainly due to an increase of 663,932 thousand yen in accounts payable - other and a decrease of 390,000
thousand yen in short-term borrowings.
Non-current liabilities decreased by 56,830 thousand yen from the end of the previous fiscal year to 675,056 thousand
yen. This was mainly due to a decrease of 57,004 thousand yen in long-term borrowings.
(Net Assets)
Net assets at the end of the first three months of the current fiscal year decreased by 194,740 thousand yen from theend of the previous fiscal year to 8,153,279 thousand yen. This was mainly due to loss attributable to owners of parentof 198,039 thousand yen.
As a result, the equity ratio was 65.3%.
(3) Forward looking information including consolidated earnings forecasts
We have revised the first six months and 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, and the progress of our business performance in the first three months of the current fiscal year. For
details, please refer to the "Notice Concerning Revision of Earnings Forecasts" separately released today (December
14, 2022)3

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

(Thousands of yen)
As of October 31, 2022

AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeFinished goods
Raw materials and supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Asset retirement obligations
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
Foreign currency translation adjustment
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

42,973,269
3,071,846
3,784,814
576,394
1,110,607
11,516,933

2,999,390
2,728,322
3,734,307
644,896
1,458,469
11,565,387

110,246
266,267
407,000
783,514
12,300,447

95,538394,702427,511917,752
12,483,140

435,845
390,000
322,114
1,568,285
165,723
18,607
319,964
3,220,541

765,489295,656
2,232,217
18,441
27,223
315,776
3,654,804

701,11430,772
731,886
3,952,427

644,11030,946
675,056
4,329,861

1,351,544
1,351,544
5,622,227(1,313)8,324,004

1,351,544
1,351,544
5,424,188(1,313)8,125,964

24,01624,016
8,348,020
12,300,447

27,31427,314
8,153,279
12,483,140

(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income(Quarterly consolidated statement of income)(Three months ended October 31, 2022)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Surrender value of insurance policies
Profit on currency exchange
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Miscellaneous losses
Total non-operating expenses
Ordinary profit (loss)
Profit (loss) before income taxes
Income taxes - current
Profit (loss)
Profit (loss) attributable to owners of parent

Three months ended October 31, 2021
(From August 1, 2021
to October 31, 2021)
9,865,750
1,941,531
7,924,218
5,849,421
2,074,797(Thousands of yen)Three months ended October 31, 2022
(From August 1, 2022
to October 31, 2022)
7,391,604
1,644,503
5,747,100
5,991,395(244,294)

432
35,693
26,317893
63,337440
19,442
2,898
22,780

4,313
1,616
5,930
2,132,204
2,132,204
811,790
1,320,414
1,320,414

3,083
263
3,347
(224,861)(224,861)(26,821)(198,039)(198,039)5

(Quarterly consolidated statement of comprehensive income)(Three months ended October 31, 2022)

Profit (loss)
Other comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

Three months ended October 31, 2021
(From August 1, 2021
to October 31, 2021)
1,320,414(Thousands of yen)Three months ended October 31, 2022
(From August 1, 2022
to October 31, 2022)(198,039)

24,01324,013
1,344,427

3,298
3,298
(194,740)

1,344,427(194,740)6

(3) Notes to quarterly consolidated financial statements(Notes on going concern assumption)
Not applicable(Notes when there are significant changes in amounts 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 consolidated fiscal year, including the first three months under review, andmultiplying profit (loss) before income taxes by the estimated effective tax rate. However, if tax expenses calculatedusing the estimated effective tax rate result in significantly lacking rationality, the statutory effective tax rate is used.
(Changes in accounting policies)(Application of implementation guidance on accounting standard for calculation of fair value and others)
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 the
beginning of the first three months of the current fiscal year, and in accordance with the transitional treatment set forthin Paragraph 27-2 of the Implementation Guidance on Accounting Standard for Fair Value Measurement, the Grouphas 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 financial
statements.
(Segment information, etc.)(Segment information)
This information is omitted as the Group has a single business segment engaged in manufacture and sale of cosmetics.

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