FY2023

4Q

September 14, 2023

Premier Anti-Aging Co., Ltd.
TSE Growth 4934
FY2023 Full Year Results

INDEX

01

Executive Summary

02

FY2023 Results

03

FY2023 Performance of Each Brand

04

FY2024 Earnings Forecast

05

Appendix© 2023 Premier Anti-Aging, Co., Ltd.

2

01 Executive Summary© 2023 Premier Anti-Aging, Co., Ltd.

3

01. Executive Summary

Executive Summary

FY2023 Results✓ Sales and profit/loss were generally in line with plan
✓ Boosted CANADEL and clayence sales, but overall decline due to fall in DUO sales✓ Structural reforms during FY2023 caused a temporary cost rise, leading to losses at each level✓ Maintaining a profit structure under normal business conditions even in a challenging businessenvironment
FY2024 Earnings Forecast✓ Expect 26 billion yen in sales and 100 million yen in operating profit for FY2024✓ Continue structural reforms from FY2023✓ Positioning the first year of the four-year medium-term management plan starting from FY2024 as astructural reform phase, we will strengthen the foundation that will enable us to execute the growthstrategy from FY2025© 2023 Premier Anti-Aging, Co., Ltd.

4

02 FY2023 Results© 2023 Premier Anti-Aging, Co., Ltd.

5

02. FY2023 Results

Statement of income (year-on-year)✓ Boosted CANADEL and clayence sales, but overall decline due to fall in DUO sales✓ Posted operating loss as gross profit fell due to lower sales coupled with an inventory write-down,
although selling, general and administrative expenses, mainly advertising expenses, were suppressed✓ Sales and profit/loss were generally in line with full-year plan

(Millions of yen)

FY2022

FY2023

Increase/(decrease)33,911

26,400(7,511)(22.1%)

ＬMail order/EC

24,15018,316(5,834)(24.2%)

ＬWholesale

8,382

5,641

(2,741)(32.7%)

ＬOthers

1,378

2,443

1,064

77.2%

Operating profit (loss)

2,414

(611)

(3,026)－

Operating profit margin (%)

7.1%(2.3%)－(9.4pts)

Ordinary profit (loss)

2,572

(631)

(3,203)－

Profit (loss) attributable toowners of parent

1,424

(733)

(2,158)－Net sales

Percentagechange© 2023 Premier Anti-Aging, Co., Ltd.

6

02. FY2023 Results

Statement of income (quarterly comparison)✓ 4Q sales as projected✓ Posted operating loss as gross profit fell due to lower sales coupled with an inventory write-downfollowing 3Q, although SG&A expenses, mainly advertising expenses, were suppressed(Millions of yen)

FY20224Q

FY2023
1Q

FY20232Q

FY2023
3Q

FY20234Q% changefrom lastquarter

8,015

7,391

6,867

6,351

5,790

(8.8%)

Ｌ Mail order/ EC

6,281

5,055

5,261

4,122

3,876

(6.0%)Ｌ Wholesale

1,266

1,929

1,172

1,586

952

(40.0%)

Ｌ Others

467

406

432

642

961

49.8%

Gross profit

5,967

5,747

5,421

4,516

3,557

(21.2%)

SG&A expenses

5,510

5,991

5,068

4,582

4,212

(8.1%)

Ｌ Advertising expenses

2,718

3,045

2,430

1,809

1,313

(27.4%)Ｌ Outsourcing

1,388

1,248

1,252

1,205

1,169

(2.9%)

Ｌ Payroll and allowances

304

325

293

430

393

(8.6%)

Ｌ R&D

122

127

102

146

212

45.0%

Ｌ Others

976

1,244

988

954

1,078

13.0%

456

(244)

353

(66)

(654)

－

5.7％

(3.3％)

5.1％(1.0％)(11.3%)(10.3pts)

Ordinary profit (loss)

430

(224)

320

(51)

(674)

－

Profit (loss) attributable toowners of parent

202

(198)

172

(127)

(580)

－

Net sales

Operating profit (loss)
Operating profit margin (%)© 2023 Premier Anti-Aging, Co., Ltd.

7

02. FY2023 Results

Advertising expenses✓ Reduced ad spending as a ratio of net sales compared to same period last year from 38.1% to 32.6%✓ Overall CPO stabilizing, but emphasis on acquisition efficiency made new acquisitions sluggish

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

Breakdown of advertising expenses
cf. QonQ ad expenses to net sales3Q）28.5％➡4Q）22.7％）

clayence
CANADELDUO
Others
CPO

12,920(Millions of yen)

Other

TVCM

8,598

FY2022

TVCM

New
acquisitionNew
acquisition

Other

FY20238 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7
1Q

2Q

3Q

FY2022

4Q

1Q

2Q

3Q

4Q

FY2023© 2023 Premier Anti-Aging, Co., Ltd.

8

02. FY2023 Results

Analysis of operating profit/loss fluctuation factors✓ Temporary costs due to structural reforms undertaken in FY2023 and FY2024✓ Maintained profitability even in a challenging business environment

Measures for financial soundness✓ Valuation loss due toinventory optimization

Analysis of FY2023 Operating profit/loss fluctuation factors(Millions of yen)

2Q

Increase

Decrease

Profit/loss
損益

4Q

3Q

After adjusting
one time losses①+②✓ Eliminate financial concerns(review of some new
businesses, etc.)①②✓ Merger of PremierWellness Science, etc.

© 2023 Premier Anti-Aging, Co., Ltd.

9

02. FY2023 Results

Balance sheet (comparison with end of FY2022)✓ Venex Co. Ltd. balance sheet incorporated from 2Q✓ Substantial reductions to inventories, improved financial soundness(Millions of yen)

FY2022

FY2023

Increase/(decrease)12,30012,135(165)(1.3%)

ＬCurrent assets

11,516

9,229(2,287)(19.9%)L Inventories

4,361

1,909

(2,451)(56.2%)

783

2,905

2,121

270.8%

3,952

4,525

573

14.5%

3,220

3,016

(204)

(6.3%)

731

1,509

777

106.2%

Total net assets

8,348

7,609

(738)

(8.8%)

Total liabilities andnet assets

12,30012,135(165)(1.3%)

Equity ratio（％）

67.9％

62.7%

－

(5.2pts)

Total assets

ＬNon-current assets

Total liabilities
ＬCurrent liabilities

ＬNon-current liabilities

Percentagechange© 2023 Premier Anti-Aging, Co., Ltd.

10

03 FY2023 Performance of Each Brand© 2023 Premier Anti-Aging, Co., Ltd.

11

03. FY2023 Performance of Each Brand

Skin care business: DUO✓ No. 1 in cleansing sales* for 4 consecutive years✓ Aim to turn sales around through communications to boost understanding of DUO product value

TopicsQuarterly net sales of DUO✓ Achieved No. 1 in cleansing sales* 4 consecutive years(Millions of yen)

✓ Some success as we sought new customer acquisition✓

Mail order/EC

through Mermaid Balm, produced in collaboration with

10,000

Disney, and to meet inbound tourism demand with Matcha

9,000(green tea) Balm

8,000

Shift from balms to oil-based products continues, as does

7,000

outflow to low-price products, causing a downward trend in

6,000

sales

5,000

✓ Strengthen measures around beauticians and influencers.
Initiate a communication shift for a better understanding ofproduct value.

Wholesale

Other

4,000

3,000
2,000
1,000
0
1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

4Q

FY2022

1Q

2Q

3Q

4Q

FY2023＊TPC Marketing Research Corp. survey into market share ranking by cleansing brand (Target period: April 2019-March 2023/ Survey period: June 2023)© 2023 Premier Anti-Aging, Co., Ltd.

12

03. FY2023 Performance of Each Brand

Skin care business: CANADEL✓ Sales lower than forecast due to tighter competition in the “all-in-one” market but higher than last year
✓ “Premier Lift,'' which has been made into a quasi-drug, is available through mail-order channels.
Completed lineup that addresses customer concerns in all directions

Topics✓ Sales lower than forecast due to tighter competition in
the “all-in-one” market but higher than last year
✓ Gained customer support for the redeveloped quasi-drug

Quarterly net sales of CANADEL
Mail order/EC

Other

4Q

2Q

(Millions of yen)

2,000

1,800

product “Premier Lift” released to mail order/EC

1,600channels in 4Q

1,400✓ Complete lineup with three quasi-drug products,

Wholesale

1,200“Premier Barrier Fix”, “Premier White” and “Premier Lift”
1,000

to deal with customer concerns from all directions
800

600

400

200

0
1Q

2Q

3Q

FY2021

1Q

3Q

FY2022

4Q

1Q

2Q

3Q

4Q

FY2023© 2023 Premier Anti-Aging, Co., Ltd.

13

03. FY2023 Performance of Each Brand

Hair care business: clayence✓ Became the No. 1 hair coloring treatment in sales* in one year since launch. Solid progress in market
penetration✓ Evolution into a comprehensive hair care brand with the development of foaming grey hair color
treatment (quasi-drug product) and a scalp care series
Topics✓ Achieved No. 1 spot in sales of coloring treatments*

within one year of launch. Sales exceed 2 billion yen✓ Began test marketing of “Clay Spa Quick Color”, afoaming grey hair color treatment (quasi-drug
product ) and a scalp care series✓ Aim to be the No. 1 total hair care brand* “Survey on hair color treatment” (sales by brand) TPC Marketing Research Corp. (target period: July to December 2022)© 2023 Premier Anti-Aging, Co., Ltd.

14

03. FY2023 Performance of Each Brand

Inner care business and recovery business (Venex)✓ Positive response to test marketing in the newly entered inner care business✓ Recovery business company Venex posted its highest earnings since founding. Continuing efforts torapidly realize integration impacts
Inner care
✓ Positive response from test marketing✓ Improved CPO/LTV relationship and growing
trend in new customer acquisitions✓ Strengthen marketing measures including
influencers

Venex✓ Increased sales capacity by boosting flagshipproduct brand and optimizing inventory
mangement, set a new record for highest earnings
since founding✓ Steadily realizing impacts of integration with
Premier Anti-Aging

Sporty model "RECHARGE+" series© 2023 Premier Anti-Aging, Co., Ltd.

15

04 FY2024 Earnings Forecast© 2023 Premier Anti-Aging, Co., Ltd.

16

04. FY2024 Earnings Forecast

FY2024 Earnings Forecast✓ Forge ahead with structural reform and measures to address financial concerns carrying on from FY2023✓ Focus on initiatives to reexamine our core strengths and prepare for returning to a sustained growth

Half year

Full year(Millions of yen)

FY2023Results

FY2024
Forecast

Increase/(decrease)

PercentagechangeNet sales

26,40026,000(400)(1.5%)

Operating profit (loss)

(611)

100

711

-

Operating profit margin (%)(2.3%)

0.4%-

2.7ptsOrdinary profit (loss)

(631)

100

731

-

Profit (loss) attributable to ownersof parent

(733)

200

933

-

Net sales

14,25811,800(2,458)(17.2%)

Operating profit (loss)

109

(800)

(909)

-

Operating profit margin (%)

0.8%(6.8%)-(7.6%)

95

(800)

(895)

-

(26)

(500)

(474)

-

Ordinary profit (loss)
Profit (loss) attributable to ownersof parent© 2023 Premier Anti-Aging, Co., Ltd.

17

04. FY2024 Earnings Forecast

Company-wide strategy✓ Reassess each brand’s targets and product appeal, and strengthen communication that enhances
understanding of product value✓ Implement aggressive investment in advertising that exceeds the previous fiscal year to strengthen thefoundation for executing growth strategies
Marketing communication✓ Reassess each brand’s targets and productappeal✓ Boost ties with beauticians and influencers,
shift to communication that enhances

Mail order/EC✓ Develop new offerings to entice new customers✓ Develop CRM measures fitting customer stage✓ Update/ boost measures to improve eachbrand’s retention rate

understanding of product value
Advertising spending✓ Exceeding advertising investment compared to theprevious fiscal year aiming to sales growth✓ Appoint ambassadors for main brands, launch
new TV commercials
Structural reform

Wholesale✓ Strengthen measures for each wholesaler
individually✓ Develop in-store sales promotions fitting
actual sales targets (in terms of design andappeal)✓ Establish a system that can reduce costs inthe medium term
© 2023 Premier Anti-Aging, Co., Ltd.

18

05 Appendix© 2023 Premier Anti-Aging, Co., Ltd.

19

05. Appendix

Company Profile
Name

Premier Anti-Aging Co., Ltd.

Established

December 2009

Head office

Toranomon Hills Mori Tower 8F, 1-23-1 Toranomon, Minato-ku, Tokyo

Board
members

Kiyoshi Matsuura, President
Koji Kawabata, Director and Managing Executive Officer
Yoichiro Ito, Director and Managing Executive Officer, CFO
Takahiro Toya, Director and Executive Officer
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

252 (as of July 31, 2023)

Line ofbusiness

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

Group
companies

Premier Wellness Science Co., Ltd.
Premier Anti-Aging (Shanghai) Co., Ltd.
Venex Co., Ltd.
© 2023 Premier Anti-Aging, Co., Ltd.

20

05. Appendix

Slogan and Purpose

SloganPurpose© 2023 Premier Anti-Aging, Co., Ltd.

21

05. Appendix

Corporate History
2009・－ December: Established Premier Anti-Aging Co., Ltd. in Toranomon, Minato-ku, Tokyo
2010・－ February: Started sales of cosmetic products with the launch of the DUO brandand began selling The Cleansing Balm through Mail-order/EC service

2012・－ July: Relocated the head office to Roppongi Hills Keyakizaka Terrace

2018・－ September: Started airing TV commercials (featuring KinKi Kids, a popular male duo), the first such ad for DUO
2019・－ 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

2020・－ March: Relocated the head office to Toranomon Hills Mori Tower－ September: Launched “sitrana,” a new brand for sensitive skin

－ September: Started airing the first round of TV commercials for CANADEL (featuring actress Ryoko Yonekura)－ October: Launched “immuno,” a new organic cosmetic brand－ October: Listed on the Tokyo Stock Exchange Mothers market－ December: Established Premier Wellness Science Co., Ltd.

2021・

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

2022・－ March: Launched the “clayence” hair care brand－ April: Launched “DUO MEN,” a men’s skin care brand－ August：Cumulative sales of the DUO “The Cleansing Balm” series exceeded 40 million units－October：Started airing the first round TV commercials for clayence (featuring actress Rei Dan)

2023・－ 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© 2023 Premier Anti-Aging, Co., Ltd.

22

05. Appendix

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

SKIN CARESKIN CARE✓ Main brand since our founding.
Has driven sales for ourcompany as a pioneer in thecleansing balm market.
✓ Launched February 2010.

Sales composition
ratio*265％✓ Offering 30 SKUs*1✓ Being nurtured as the second
key brand after DUO.
Addresses needs ofcontemporary womenby saving time.
✓ Launched April 2019.
✓ Offering 7 SKUs*1

Sales composition
ratio*2

21％

HAIR CARE✓ Applying brand nurturing know-how gained throughDUO and CANADEL.
✓ Home hair care brand that
Sales composition
focuses on young generation
ratio*2with graying hair.
✓ Launched March 2022.
✓ Offering 12 SKUs*1

9％*1: SKU refers to the number of regular products as of July 31, 2023, excluding limited editions and different sizes *2: Calculated based on FY2023 net sales.

© 2023 Premier Anti-Aging, Co., Ltd.

23

05. Appendix

Net sales by channel✓ In mail-order sales, sales decreased due to a decline in new customer acquisition due to restraint on
advertising investment✓ Wholesale sales were affected by the seasonality of shelf replacement(Millions of yen)
12,000Net sales by channel
Mail order/EC
Wholesale
Others (including overseas subsidiary)

10,000

8,000

35%
25%
18%
27%

16%

33%
28%

6,000

26%

32%
21%

25%

23%
18%

4,000

17%

16%

22%

21%

2,000

13%

76%

13%
82%

76%

4Q

1Q

81%

75%

2Q

3Q

62%

78%

78%
68%

64%

68%

67%

77%
65%

67%

3Q

4Q

76%

85%

85%

1Q

2Q

Mail order/EC

70%
71%

Wholesale

17%

0
3Q

FY2019FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY20224Q

1Q

2Q

FY2023© 2023 Premier Anti-Aging, Co., Ltd.

24

05: Appendix

Total Number of Mail-order/EC Customers✓ The total number of members exceeded about 3.8 million

Total number of mail order/EC customers(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
FY20234Q© 2023 Premier Anti-Aging, Co., Ltd.

25

05: Appendix

Number of cross-selling customers✓ Active CX promotions underly ongoing rise in cross-selling ratio

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

14.2%

9.7%

100,000
people

1Q

2Q

3Q
FY2020

4Q

1Q

2Q

3Q
FY2021

4Q

1Q

2Q

3Q
FY2022

4Q

1Q

2Q

3Q

4Q

FY2023

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.

© 2023 Premier Anti-Aging, Co., Ltd.

26

05. 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 skin from its foundation,”created under the policy of developing highly
effective products by combining naturalingredients that are kind to the skin, body andnature with advanced science based ondermatology.
We currently have 30 SKUs* centering on
cleansing balm.
Major cosmetics awards granted in the first half of 2023

MAQUIA
September issue
Everyone's Best
Cosmetics
2023 first half
Just dropping it is notenough!
Cleansing category
First place

upPLUS July issue
Cosmetics recommended bybeauty connoisseur STAFF &discerning buyers
Skin care category cleansing
First place+4 more awards*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

27

05. 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 carebrand launched in April 2019 to address thechanging skin care needs of mature consumers.
Four types of all-in-one creams and eye cream

are currently available, taking in mind thelifestyles of modern women proactively living
busy daily lives. We currently have 7 SKUs*
centering on all-in-one cosmetics.
Major cosmetics awards granted in the first half of 2023

ESSE July issue
Beauty Trend Award 2023
Gel/Oil Department

LEE August issue
LEE Best Cosmetics 2023
First Half
Positive Aging Award+3 more awards*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

28

05. Appendix

Situation by Brand: sitrana✓ A cosmetics brand for sensitive skin with cica substance*1 in all products, sitrana targets the Chinese
marketFeaturing a unique anti-pollution capability,
the sitrana products protect the skin fromdryness that causes skin irritation and suchexternal stimuli as air pollution anddirt/grime. The cica substances*1 under our
original blending help fix the damaged skinand facilitate users to attain their ideal skin.
We currently have 14 SKUs*2.

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*1: Cica refers to the substance extracted from a plant called Centella asiatica. *2: The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

29

05. Appendix

Situation by Brand: clayence✓ A home hair care brand that focuses on young generation with graying hair, clayence was developed by applying thebrand nurturing know-how gained through DUO and CANADEL•

A hair care brand inspired by a clay spa,clayence was created by combining thepower of clay and cutting-edge science toprovide hair and scalp treatment whilecoloring gray hair. With calming aroma on

top of carefully selected clay and beauty
substances, the product transforms tedioushair care into luxurious time at the spa. We
currently have 12 SKUs*.
Major cosmetics awards granted in the first half of 2023

LEE August issue
LEE Best Cosmetics
2023 first half
Beauty sage’s beloved
cosmetics category
Hair carean・an No. 2337
announcement! Spring 2023
an・an Mote Cosmetics Award
Hair care categoryAward for lasting beautiful
color without dryness+1 more awards*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

30

05 Appendix

Situation by Brand: DUO MEN✓ With DUO men, we newly entered the fast-growing men’s cosmetics market by taking advantage of thehigh awareness 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 and damage specific for men
from the viewpoint of ecological and biologicalscience. 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 the first half of 2023

Fine March issue
Attract men with your appearance
5th Fine Men's Beauty Award!
Sunscreen category
First place

FINEBOYS August issue
17th FINEBOYS
Men's Beauty Award
Facial cleanser category
First place+1 more awards*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

31

05. Appendix

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 adopted the same DDS technology as in the
medical field. Thoroughly sticking to the "experience" of theingredients, we aim to renew the relationship between the body andthe ingredients from the area of "penetration". It is a health care
supplement for adults who enjoy aging that pursues a highexperience with a high amount of compounding (high compounding)and high absorption and high penetration type (liposomes).

Aiming to support the creation of an ideal body, it wasborn under the lead of a food health instructor certified
by the Japan Health and Nutrition Food Association. We
propose optimal supplements (functional foods) thatmatch the two styles of “those who want to incorporate
exercise” and “those who want to improve their eating
habits” to support body fat reduction.

We currently have 2 SKUs*.

We currently have 2 SKUs*.

Major cosmetics awards granted in the first half of 2023
MORE August issue
MORE Best Cosmetics
Inner care category
for the first half of 2023
First place

MAQUIA August issue
MAQUIA Best Cosmetics
Inner care category
for the first half of 2023
2nd place+9 more awards*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes© 2023 Premier Anti-Aging, Co., Ltd.

32

05. Appendix

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 brandthat focuses on high purity, highpenetration, and high concentration,with carefully selected vitamin C fromover 70 types and add α that enhances
C.
Based on the concept of "enjoying
vitamin C for maniacs", we aim topropose skin care products with highimmediate effect in order to maximize

the power of vitamin C.
We currently have 3 SKUs*.

*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

33

05. Appendix

Venex’s 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," wepropose clothing for recovery.
With our proprietary special fiber"PHT (Platinum HarmonizedTechnology)" and a noncompression design that does
not constrict the body, it
supports high-quality recovery
just by wearing it.

We currently have 86 SKUs*.

*The SKU figure refers to the number of regular products as of July 31, 2023, excluding limited items, different sizes and colors.
© 2023 Premier Anti-Aging, Co., Ltd.

34

05. Appendix

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 humanendocannabinoid system (ECS) andcircadian rhythm. The key ingredient
CBD (cannabidiol) supports daily
rhythms and helps maintain a healthy
mind and body. To ensure the safety
and transparency of CBD raw

materials, we have introduced a
traceability system that allows
inspection, identification, andtracking 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 July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

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05. Appendix

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 source of skin andsensibility with the power of SKIN &SENCE science,” we advocate skincell care born from advanced skinresearch and care for the five senses
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 successfullycommercialized 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 July 31, 2023, excluding limited items and different sizes.
© 2023 Premier Anti-Aging, Co., Ltd.

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05. Appendix

Market Size of the Domestic Cosmetics Market✓The domestic cleansing market, which includes balms, totaled 137.6 billion yen in 2022

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

Cosmetics
MakeupSkin Care
Face wash
Powder

MakeupCleansing
Balm

Foam
Solid soap

Cleansing market
137.6 billion yen

Hair care

Hair care/hair makeup
market 662.0
billion yen

Skin care market
1,307.7 billion yen

Toner
Moisturizer

Face wash market
126.0 billion yen

All-in-one

Shampoo

Cosmetics market
2,931.0 billion yen(of which the
men’s market is159.3 billion yen)

Conditioner

Moisturizing

Booster

Scalp care

Whitening

Whitening

Color treatment

UV whitening
Emulsion

Moisturizing
Essence

All-in-one market
135.6 billion yen

Note: Gray circles indicate the markets, and red boxes represents our products.
Source: "Cosmetics Marketing Handbook 2023 No. 1", "Cosmetics Marketing Handbook 2023 No. 3", "H/B Foods Marketing Handbook 2023 <Overview>" by Fuji Keizai*H/B foods markets are estimates for 2022
© 2023 Premier Anti-Aging, Co., Ltd.

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05. Appendix

Domestic Market Size for Cleansing✓ Domestic cleansing market plummeted due to disappearance of inbound demand caused by COVID-19✓ The market expanded again in 2021 as the positioning of cleansing products changes from makeup
remover to skin care productsTrends in the domestic market size for cleansing(100 million yen)
COVID-19
Outbreak

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 →140.2 billion yen
9%UP（2020-2023）

400

200

0
2014

2015

2016

2017

2018

2019

2020

2021

2022

2023
(Estimate)2024(Forecast)

2025(Forecast)

Source: “Cosmetics Marketing Handbook 2023 No. 1” by Fuji Keizai© 2023 Premier Anti-Aging, Co., Ltd.

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05: Appendix

Domestic Market Size for Cosmetics and Skin Care
✓ Domestic cosmetics market, which continued to grow moderately through 2019, declined significantly with
COVID-19✓ Moderate recovery continues in 2023 due to the reduction of COVID-19 to a Category 5 infectious disease
Trends in the domestic market size for cosmetics and skin care
Skin care

Cosmetics market excluding skin care(100 million yen)

COVID-19
Outbreak

35,00030,00025,000Cosmetics market
excluding skin care
CAGR 1.41%

20,000(2015-2023)
15,00010,000Skin care market
CAGR 0.88%

5,000(2015-2023)
0
2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

(Estimate)(Forecast)(Forecast)

Source: “Cosmetics Marketing Handbook 2023 No. 3” by Fuji Keizai© 2023 Premier Anti-Aging, Co., Ltd.

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05. Appendix

Organizational Characteristics✓ We have created an organization that focuses on core operations to achieve high productivity and mobility

１. Fabless manufacturing
We have built a nationwide network of
OEM manufacturers and select the
optimal OEM production system for eachproduct. By outsourcing production, we
can maintain a flexible production system
highly adaptable to environmental
changes.
２. Sales per employee
We focus on core operations such as
product development and marketing,while outsourcing logistics,
manufacturing, and most of the callcenter operations, etc. By doing so, theratio of non-current assets is kept low
and sales per employee is at a higher
level than our competitors.

© 2023 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 practicallydiffer from what are described in such statements.

✓ These risks and uncertainties include general industry and market conditions as well as
general domestic 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 and maintain 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© 2023 Premier Anti-Aging, Co., Ltd.

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