Corporate Data
Integrated Report 2023

71

CONTENTS

Prologue

Value
CreationGrowthStrategy

CapitalStrategy

CorporateData

Corporate
GovernanceCorporateData

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Integrated Report 2023

Corporate Data

Financial overview
During the fiscal year ended March 31, 2023, the Japanese economy

Operating income, operating income margin(Millions of yen)

99,009100,000

80,00087,17180,08890,352

13,452

14,000

11,582

12,000

10,58082,37910,00013.2（%）

12,340

9,906
12.0

13.6

13.7

While society moves into a new phase of “living with COVID-19,” medical20

customers, have continued to experience various impacts.

8,000

60,000

6,000

5000

2020/32021/32022/32023/3

2019/32020/3Operating income

2021/32022/32023/3Operating income margin

10and nursing care-related organizations, which are the Group’s main
Our Group hopes to contribute to the maintenance of the medical andnursing care systems by continuing to provide various services and services.
Under such an environment, the net sales for the fiscal year ended March
31, 2023 increased by 8,656 million yen (9.6% increase) compared to theprevious period to total 990,09 million yen. Operating income increased
by 1,112 million yen (9.0% increase) to 13,452 million yen compared tothe previous period, ordinary income increased by 595 million yen (4.4%increase) to 14,139 million yen compared to the previous period, and net

GrowthStrategy

70,0002019/3other factors.

25

15

13.3

to raw material prices, unstable exchange rates, the situation in Ukraine, andValue
Creation

90,000(Millions of yen)economic activities, but future conditions remained unclear due to increases

Prologueshowed signs of gradual recovery after movement toward normalization ofNet sales

CONTENTSManagementʼs Discussion and Analysis of Financial Condition andResults of Operation (MD&A)

income attributable to owners of the parent increased by 122 million yen

Net income attributable to owners of the parent

Total assets, net assets(Millions of yen)

10,000180,000

9,092

9,000

9,215

8,611

8,000
7,000

7,043

120,000

0

154,358

128,697

113,822

121,675

100,000

2019/32020/32021/32022/32023/30

2019/3

Total assets

2020/32021/3

Net assets

Total assets as of March 31, 2023 increased by 8,011 million yen from March
31, 2022 to 172,293 million yen.Total liabilities increased by 989 million yen

144,006 144,257

108,242 107,066

Financial condition

2022/32023/3

to 43,596 million yen.Net assets increased by 7,022 million yen to 128,697
million yen.As a result, equity-to-asset ratio was 74.7% and net assets pershare was 2,207.86 yen.

CorporateData

6,000

164,281

160,000
140,000

6,704

172,293

Corporate
Governance(Millions of yen)

CapitalStrategy(1.3% increase) to 9,215 million yen.

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Integrated Report 2023

Corporate Data

Operating CF, investing CF, ﬁnancing CF, free CF（%）(Millions of yen)
12,000

10060

75.16

74.22

73.74

4,000

74.06

5,450

-4,000-2,842

9,087

5,508

7,822
8,738

-1,541-3,579-3,0442020/32021/32022/32023/3-12,000

2019/3Operating CF
Financing CF-7,4752020/3

9,151

-200

2,819

2021/32023/3

3,000
2,000

2,082

2019/32020/32021/32022/32023/3for opening two Paramount Care Service Co., Ltd. maintenance centers.

1,782

1,697

1,753

Research and development status
Based on the corporate principles of “We Create Comfortable Healthcare Environments through Cutting-edge Technology with a Human Touch,” the Group’s
research and development activities are handled by the Sleep Research Institute800

and a total of five departments under the Technology Development Division

400

Technology Department, Development Department, Design Department, IBS

0of the core subsidiary, Paramount Bed Co., Ltd.: R&D Department, Elemental
Solution Development Department. Research and development expenses for
2019/32020/32021/32022/32023/3the fiscal year ended March 31, 2023 are 1,753 million yen.

CorporateData1000
01,6771,2001,822

related to the installation of our new core work system and 532 million yen

Corporate
Governance

2,976

1,600

Capital investment status

There were no material disposals or sales of facilities during this fiscal year.

2,000

3,653

This was mainly due to dividend payments of 3,321 million yen.

CapitalStrategy(Millions of yen)

4,000

The cash decreased as the result of financing activities amounted to 3,232 million yen.

totaled 3,653 million yen.Major capital investments include 1,677 million yen(Millions of yen)

1,642

and 1,988 million yen in purchase of intangible assets, and an increase of 1,994 million

Capital investment expenses for the fiscal year ended March 31, 2023

Research and development expenses

3,984

was mainly due to a decrease of 2,898 million yen in purchase of investment securities■ Cash flows from financing activities-6,3322022/3

rental assets of 8,005 million yen and in income taxes paid of 4,685 million yen.

yen in proceeds from sale of securities.

-3,365-3,232

Investing CF
Free CF

depreciation and amortization of 8,482 million yen, and decreases both in the increase in

The cash decreased as the result of investing activities amounted to 6,332 million yen.This

Capital investment expenses
5,000

The cash increased as the result of operating activities amounted to 9,151 million yen.This■ Cash flows from investing activities

7,602-8,0002019/3■ Cash flows from operating activities

GrowthStrategy

20-2,464

factors are as follows.

was mainly due to increases in the profit before income taxes of 13,812 million yen and

10,279040

08,00031, 2023 totaled 45,663 million yen.The status of each cash flow and their

Value
Creation

74.70

80

7,914

Cash and cash equivalents (hereinafter referred to as “cash”) as of March

Prologue

Equity-to-asset ratio

Cash ﬂow status

CONTENTSManagementʼs Discussion and Analysis of Financial Condition andResults of Operation (MD&A)

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Integrated Report 2023

Corporate Data
CONTENTS

Financial and Non-ﬁnancial Data
Operating income
Operating income margin (%)
Net income attributable to owners of the parent
Comprehensive income
Net assets
Total assets
Net income per share (yen)Annual dividend per share (yen)Dividends on equity ratio (DOE) (%)
Equity-to-asset ratio (%)
Return on equity (%)
Cash ﬂows from operating activities
Cash ﬂows from ﬁnancing activities
Cash and cash equivalents
Price earnings ratio (PER) (times)
Price to book-value ratio (PBR) (times)
Number of employees (persons)

2019/32020/32021/32022/32023/372,79475,27074,08973,19877,22080,08882,37987,17190,35299,009

13.3

13.0

15.0

13.8

13.2

12.0

13.3

13.7

13.6

11,541
15.9

12,3577,384
7,884

10,038
11,553
7,264
8,251

82,571

85,391

1,345.41

1,453.42
30.0

122,302120.5125.0
1.9

20.867.50
9.30

6,373

125,508
122.02
2.1

24.6

68.04

8.65

8,151

9,660
9,830
6,387
5,039

2,496

7,043
6,212

13,461
8,611
9,664

13,543
9,092

10,80914,1399,215
9,432

1,461.50

1,600.45

1,726.95

1,800.25

1,841.97

1,958.23

2,092.47

2,207.86

35.0

45.0

45.0

50.0

50.0

51.5

55.0

59.0

126,279
110.882.4

31.6

128,962160.072.9

28.1

139,176148.62
2.7

30.3

67.49

68.54

73.87

9,657

12,019

9,967

7.49

1.37

2,404

7,064

10,145

128,697

1.09

1,246

6,704

13,452

121,675

22,615

1,256

8,257

10,923

12,340113,822

20,45312.8

8,366

11,582

107,066

21,313
1.20

8,533

12,161

9,906

108,242-2,037

13.4

9,034

10,580102,803-3,615-5,375

11,788

10,661

88,391

85,223-7,055
8,809

11,015-5,493
18.3

1,385
2,638

10.41
-936

8.75

144,006
111.84
2.8

44.7

75.16

6.35

7,914

144,257
118.21
2.7

42.3

10,2797,822

34,43537,06935,009

1.39

1.57

1.36

1.21

1,600
2,685

19.3

1,589
2,925

22.0

1,642
3,224

35.2

9,087

6.54

27,644
13.6

34.8

2.7

74.06

-3,579-2,8422.7

156.3973.74-2,464-2,621148.15

164,281

74.22

-493

-5,641

154,358-7,475
18.5

1,677
3,494

7.80

7.72

172,293158.37
2.7

37.3

74.70
7.36

9,151

-220

-6,33240,75645,462

45,663

1.24

0.95

1.07

-1,541-3,04416.4

1,782
3,614-3,365
12.8

1,697
3,682-3,232
14.9

1,753
3,946

(Note) 1. The Company carried out a 1:2 stock split of common shares effective April 1, 2021.Net assets per share, net income per share, and annual dividend per share were calculated on the assumption that the share split had been conducted at the beginning of the fiscalyear ended March 31, 2014.
2. The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) has been applied from the beginning of the fiscal year ended March 31, 2022, and the key management indicators for the fiscal year ended March 31, 2022 and beyond
are the those after applying such accounting standard.

Corporate
Data

Research and development expenses

2018/3

Corporate
GovernanceCash ﬂows from investing activities

2017/3

CapitalStrategyDividend payout ratio (%)

2016/3GrowthStrategy

Net assets per share (yen)2015/3

Value
Creation

Ordinary income

2014/3

Prologue

Net sales

Unit: Millions of yen

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Integrated Report 2023

Corporate Data
CONTENTS

Corporate Information

Head ofﬁce

14-5, Higashisuna 2-chome, Koto-ku, Tokyo 136-8671, JapanPhone+81-3-3648-1100 (operator)

Capital4,207,430,300 yen (as of March 31, 2023)

Listing

Tokyo Stock Exchange, Prime Market (Securities Code: 7817)

Number of employees

Consolidated: 3,946 (as of March 31, 2023)

Business linesControl or management through ownership of shares or interestsof medical and nursing care beds, mattresses, hospital room furniture, medical equipment, and services such as inspection, repair,disinfection, and maintenance leasing of beds and mattresses, as

Paratechno Co., Ltd.

Paramount Care Service Co., Ltd.

Sadashige Special Plywood Co., Ltd.
●Domestic non-consolidated subsidiaries

KP Service Co., Ltd.

PARAMOUNT BED Healthcare Fund●Overseas consolidated subsidiaries

Paramount Bed Asia Paciﬁc Pte. Ltd.
PT. Paramount Bed Indonesia

Paramount Bed (China) Co., Ltd.

Paramount Bed Vietnam Co., Ltd.
●Overseas non-consolidated subsidiaries

Paramount Bed (Thailand) Co., Ltd.
Paramount Bed India Pvt. Ltd.

Paramount Bed Mexico S.A. de C.V.
Paramount Bed USA Corporation

CorporateData

well as the rental wholesale of assistive products

Paramount Bed Co., Ltd.

Corporate
Governancein business companies engaged in the manufacture and sale

●Domestic consolidated subsidiaries

CapitalStrategy

PARAMOUNT BED HOLDINGS CO., LTD.

GrowthStrategy

English nameMain Group companies

Value
Creation

Paramount Bed Holdings Co., Ltd.

Prologue

Corporate name

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Integrated Report 2023

Corporate Data
CONTENTS

Stock Information (as of March 31, 2023)
Distribution of shares

Total number of shares issued

61,754,974

Number of shareholders

10,577

Individuals and others 24.1%
Securities companies 0.8%
Treasury stock 5.6%
Financial institutions 25.5%

Major shareholders
Shareholding
ratio

Foreign companies, etc. 21.5%

Number ofshares held

The Master Trust Bank of Japan, Ltd. (Trust Account)

thousand
9,989 shares

CTOC Co., LTD.

5,642

9.7

LLAGE WOOD Co.

4,146

7.1

Custody Bank of Japan, Ltd. (Trust Account) 2,030

3.5

Michihide Kimura

1,822

3.1

Kyosuke Kimura

1,8123.1Kenji Kimura

1,781

3.1

Tomohiko Kimura

1,762

3.0

THE BANK OF NEW YORK MELLON(INTERNATIONAL) LIMITED 131800

1,644

2.8

SION Co., LTD.

1,375

2.4

2,000,000

WISE LIGHT Co., LTD.

1,375

2.40

Other domestic companies 22.5%

5,000 to 9,999
10,000 to 49,999

50,000 to 99,999
100,000 to 499,999

1.1%
3.6%
3.1%
9.9%

Breakdown by
number ofshares held

17.1 ％

10-year share price/volume trends
Share price (yen)3,000

CapitalStrategy

2,500
2,000
1,500
1,000
Volume (shares)
8,000,000

6,000,000

Corporate
Governance4,000,000

March September March September March September March September March September March September March September March September March September March September March2013
2013
2014
2014
2015
2015
2016
2016
2017
20172018
2018
2019
2019
2020
2020
2021
2021
2022
2022
2023

*The Company carried out a 1:2 stock split of common shares effective April 1, 2021.
Share prices prior to March 2021 are presented on the assumption that an equivalent stock split had taken place.

CorporateData*The Company holds 3,464,828 shares of treasury stock.
The shareholding ratio above is calculated after deducting the shares of treasury stock.

Breakdown by
type ofshareholder

GrowthStrategy

Name of shareholders

500,000 or more 76.1%
Less than 1,000 3.1%
1,000 to 4,999 3.1%

Value
Creation

252,000,000Prologue

Total number of authorized shareshttps://www.paramountbed-hd.co.jp/english