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.

February 7, 2024

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

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

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results presentation meeting:February 14, 2024
–None
None

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated financial results for the first nine months of the fiscal year ending March 31, 2024
(from April 1, 2023 to December 31, 2023)(1) Consolidated operating results (cumulative)
Net sales
Nine months endedDecember 31, 2023
December 31, 2022

Operating profit

Millions of yen% Millions of yen

73,052
71,105

Note: Comprehensive income(Percentages indicate year-on-year changes.)

2.7
11.2

% Millions of yen

8,512
9,796

(13.1)(1.9)

Nine months ended December 31, 2023:
Nine months ended December 31, 2022:

Basic earnings
per share
Nine months ended

Profit attributable toowners of parent

Ordinary profit

9,506
10,297% Millions of yen

(7.7)
(5.2)

¥8,044 million¥7,494 million

Diluted earnings
per share
Yen

Yen

December 31, 2023112.71–December 31, 2022

114.23–(2) Consolidated financial position
Total assets
As ofDecember 31, 2023
March 31, 2023
Reference:

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

172,043
172,293

133,206
128,69777.4
74.7

EquityAs of December 31, 2023:
As of March 31, 2023:¥133,205 million¥128,696 million

6,571
6,645
[7.3%][(12.5)%]%(1.1)(11.2)

2. Dividends
Dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

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

28.00

––

31.00

–

Fiscal year-end

Fiscal year ending
March 31, 2024
(Forecast)

TotalYen

Yen

31.00

59.00

34.00

65.00

Note: Revisions to the dividends forecasts most recently announced: Yes

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

Fiscal year ending
March 31, 2024

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

Operating profit

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

105,000

6.1

14,0004.1

14,500

2.6

9,800

6.3

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

Yen

168.12

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

Number of shares issued at the end of the period (including treasury shares)
As of December 31, 2023

61,754,974 shares

As of March 31, 2023

61,754,974 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

3,434,193 shares

As of March 31, 2023

3,464,828 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of thefiscal year)
Nine months ended December 31, 2023

58,308,558 shares

Nine months ended December 31, 2022

58,171,729 shares* Indication regarding execution of quarterly review procedures
The completion of quarterly review procedures in accordance with the Financial Instruments and Exchange Act
is not required for preparing this quarterly financial results report. At the time of disclosure of this quarterly
financial results report, the review procedures for quarterly consolidated financial statements in accordance with
the Financial Instruments and Exchange Act are incomplete.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
Consequently, the statements herein do not constitute assurances regarding the Company’s actual results. Actual
financial and other results may differ substantially from the statements herein due to various factors. Please refer
to “1. Qualitative information regarding financial results for the period under review, (3) Information regarding
consolidated earnings forecasts and other forward-looking statements” on page 4 of the attached materials forthe suppositions that form the assumptions for the earnings forecasts and cautions regarding the use of theearnings forecasts.

Paramount Bed Holdings Co., Ltd. (7817)

Contents of Attached Materials
Index
1. Qualitative information regarding financial results for the period under review ...................................... 2(1) Information regarding operating results ............................................................................................. 2(2) Information regarding financial position ............................................................................................ 3(3) Information regarding consolidated earnings forecasts and other forward-looking statements ......... 4
2. Quarterly consolidated financial statements and significant notes thereto ............................................... 5(1) Quarterly consolidated balance sheet ................................................................................................. 5(2) Quarterly consolidated statement of income and quarterly consolidated statement ofcomprehensive income ....................................................................................................................... 7
Quarterly consolidated statement of income (cumulative) ................................................................. 7
Quarterly consolidated statement of comprehensive income (cumulative) ........................................ 8(3) Notes to quarterly consolidated financial statements ......................................................................... 9Notes on premise of going concern .................................................................................................... 9Notes on significant changes in the amount of shareholders’ equity .................................................. 9-1-

Paramount Bed Holdings Co., Ltd. (7817)

1. Qualitative information regarding financial results for the period under review(1) Information regarding operating results
During the nine months ended December 31, 2023, the Japanese economy continued to recover, withthe easing of various restrictions related to COVID-19 infections and the resulting progress innormalization of social and economic activities. However, the future remains unclear due to factors
such as the protracted Ukrainian crisis, instable foreign exchange rate trends associated with risingoverseas interest rates and prices, and the slowdown of the Chinese economy.
In the medical care and nursing care fields relevant to the Group, revised rates for medical and nursing
care fees for FY 2024 were finalized. In both cases, the rates were increased as a measure to respond to
the need to secure human resources amid rising prices and wages. Specifically, there was a 0.88%
increase in the main portion of medical fees, which covers medical service fee for physicians, etc., anda 1.59% overall increase in nursing care fees.
The fiscal year ending March 31, 2024 is the final year of Phase I of the Group’s medium-term
management plan based on “Paramount Vision 2030,” which describes the type of company we aim tobe in 2030. We steadily implement initiatives for the key measures of Phase I, “expansion of currentbusiness,” “fully engaging in health promotion business,” and “establishing the foundations forchange,” to build a foundation for medium- to long-term growth. We are also focusing on activities in
preparation for the basic policies of Phase II: “expansion of recurring revenue business,” “advancementof health promotion business,” and “leap forward in key areas of Asia.” The Group has set targets for
Phase II of ¥120,000 million in net sales and ¥17,000 million in operating profit for the fiscal year
ending March 31, 2027.
In terms of our results for the nine months ended December 31, 2023, net sales in the medical carebusiness increased by 5.5% year-on-year to ¥28,709 million, mainly due to the continuation of thesteady expansion of recurring revenue business in Japan and higher overseas sales year-on-year. In thenursing care business, net sales increased by 1.3% year-on-year to ¥41,223 million, mainly due toefforts to expand sales of the “Nemuri SCAN” body motion sensor for nursing facilities and to enhance
the lineup of various assistive products for home care, and by focusing on the expansion of the rental
wholesale business for assistive products. In the health promotion business, net sales decreased by
8.2% year-on-year to ¥1,776 million, due mainly to changes in consumer behavior following thedowngrading of COVID-19 to a Class 5 disease, which resulted in a slump in visitors to stores.
Topics of the nursing care business include the establishment of a new Funabashi Branch in Funabashishi, Chiba on October 2, 2023 and the relocation of the Nara Branch to Tenri-shi, Nara on December 4,2023 to improve sales and delivery efficiency and customer convenience for Paramount Care ServiceCo., Ltd., which operates a rental wholesale business for assistive products. On February 5, 2024,Paramount Care Service Co., Ltd. entered an agreement with SMFL Rental Company, Limited(Chiyoda-ku, Tokyo; hereinafter “SMFL Rental”), which conducts a rental wholesale business as anagent for Paramount Care Service Co., Ltd., under which Paramount Care Service Co., Ltd. is toacquire on July 1, 2024 all of the shares of a new company that is to be established by SMFL Rental inconjunction with SMFL Rental splitting off the rental wholesale business. The share acquisition will
welcome businesses of franchise-operated regions into the corporate group, with the aim of expanding
the business further.
The information on disaggregation of net sales for the nine months ended December 31, 2023 is asfollows.

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

Net sales by business(Millions of yen)
Sales categories

Nine months endedDecember 31, 2022

Nine months ended
December 31, 2023

ChangeMedical care

27,20928,709

5.5%

Nursing care

40,68941,223

1.3%

Health promotion

1,934

1,776

(8.2)%

Others

1,271

1,342

5.6%

Total

71,10573,0522.7%

Net sales by region(Millions of yen)
Sales categories

Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

ChangeDomestic

64,15565,476

2.1%

Overseas

6,949

7,576

9.0%

Total

71,10573,052

2.7%

As a result of the above, net sales for the nine months ended December 31, 2023 increased by ¥1,946
million (up 2.7%) year-on-year to ¥73,052 million. In terms of profits, while the gross profit margin
improved, expenses such as system-related expenses for the operation of a new Enterprise Resource
Planning system and advertising expenses for the launch of a new TV commercial increased. Mainly
due to these factors, operating profit decreased by ¥1,284 million to ¥8,512 million (down 13.1%),ordinary profit decreased by ¥791 million to ¥9,506 million (down 7.7%), and profit attributable toowners of parent decreased by ¥73 million to ¥6,571 million (down 1.1%).
As the Group’s business consists of a single segment, segment information has been omitted.
(2) Information regarding financial position
Total assets as of December 31, 2023 stood at ¥172,043 million, a decrease of ¥250 million comparedwith the end of the previous fiscal year. The main aspects that contributed to this decrease weredecreases in cash and deposits, and notes and accounts receivable - trade.
Total liabilities stood at ¥38,836 million, a decrease of ¥4,759 million compared with the end of theprevious fiscal year. The main aspects that contributed to this decrease were decreases in notes andaccounts payable - trade, and income taxes payable.
Net assets stood at ¥133,206 million, an increase of ¥4,509 million compared with the end of theprevious fiscal year. The main aspects that contributed to this increase were increases in retained
earnings and foreign currency translation adjustment.
As a result of the above, equity-to-asset ratio as of December 31, 2023 rose by 2.7 points, comparedwith the end of the previous fiscal year to 77.4%.

-3-Paramount Bed Holdings Co., Ltd. (7817)(3) Information regarding consolidated earnings forecasts and other forward-looking statements
No revisions have been made to the consolidated earnings forecasts announced on October 26, 2023.

-4-Paramount Bed Holdings Co., Ltd. (7817)

2. Quarterly consolidated financial statements and significant notes thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Lease receivables and investments in leases
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Assets for rent
Accumulated depreciation
Assets for rent, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-5-

As of December 31, 2023

39,82024,793
5,526
13,412
8,233
362
2,660
2,408
(83)
97,13532,78622,754
6,660
13,161
9,327
426
2,924
1,937
(82)
89,89632,171(22,617)
9,553
9,440
(8,068)
1,371
8,846
2,652
(1,428)
1,223
52,976(32,245)
20,731579
10,682(9,409)1,273
43,57932,529(23,210)
9,319
9,684
(8,300)
1,384
8,846
2,664
(1,485)
1,179
56,784(34,953)
21,831
982
11,772(9,915)
1,857
45,399

4,344
4,344

4,740
4,740

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

21,443
11,229(666)
32,00682,147
172,043

Paramount Bed Holdings Co., Ltd. (7817)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilitiesLease liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-6-

As of December 31, 2023

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

11,287
1,415
150
804

28

–

7,239
26,3006,532
20,191

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

4,262
7,304
7,078
18,64538,836

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

4,207
51,91879,295(6,678)
128,742

889
2,400
(299)
2,990
0
128,697
172,293

1,427
3,305
(270)
4,462
0
133,206
172,043

Paramount Bed Holdings Co., Ltd. (7817)(2) Quarterly consolidated statement of income and quarterly consolidated statement ofcomprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)
Nine months endedDecember 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Gain on investments in investment partnerships
Gain on investments in silent partnerships
Other
Total non-operating income
Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on redemption of investment securities
Total extraordinary income
Extraordinary losses
Loss on redemption of investment securities
Loss on valuation of investment securities
Loss on valuation of shares of subsidiaries andassociates
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-7-

Nine months ended
December 31, 2023

71,105
37,152
33,95324,156
9,796

73,052
37,84135,21026,698
8,512

134
168
304
99
16
193
917

259
218
653
626
156
1,319

69
321
24
416
10,2978321823325
9,506–
6969

1073
84

131

1
10392–

425
9,942
2,737
559
3,297
6,645
0
6,645

12
9,579
2,308
698
3,007
6,571
0
6,571

Paramount Bed Holdings Co., Ltd. (7817)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-8-

Nine months ended
December 31, 2023

6,645

6,571(296)
1,103
41
849
7,494

538
904
28
1,472
8,044

7,494

8,044

00

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

-9-