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.

July 31, 2023

Consolidated Financial Results
for the First Three 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:

August 10, 2023
–None
None

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

1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2024
(from April 1, 2023 to June 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Three months ended
June 30, 2023
June 30, 2022

Operating profit

Millions of yen% Millions of yen

24,31822,752

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

6.9
11.4

% Millions of yen

3,258
3,210

1.5
2.7

Three months ended June 30, 2023:
Three months ended June 30, 2022:

Basic earnings
per share
Three months ended

Profit attributable toowners of parent

Ordinary profit

4,178
3,962

% Millions of yen

5.4
18.2

¥4,216 million¥3,867 million

Diluted earnings
per shareYenYen

June 30, 2023

49.05

–

June 30, 2022

46.18–(2) Consolidated financial position
Total assets
As ofJune 30, 2023
March 31, 2023
Reference:

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

170,055
172,293

131,106
128,69777.1
74.7

EquityAs of June 30, 2023:
As of March 31, 2023:¥131,105 million¥128,696 million

2,859
2,685
[9.0%][43.0%]

%

6.5
14.3

2. Dividends
Dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

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

Fiscal year-end

TotalYenYen

28.00

–

31.00

59.00

31.00

–

31.00

62.00

–

Fiscal year ending
March 31, 2024
(Forecast)

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

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

Six months ending
September 30, 2023
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%

48,7003.95,600

105,000

6.1

14,000Millions ofyen%Millions ofyen%(9.9)

5,850 (23.0)

4,000(20.7)

68.62

4.1

14,5009,800

6.3

168.12

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

2.6

Yen

* 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 June 30, 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 June 30, 2023

3,465,953 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)
Three months ended June 30, 2023

58,289,509 shares

Three months ended June 30, 2022

58,148,580 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
Caution concerning forward-looking statements
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 3 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 ......... 3
2. Quarterly consolidated financial statements and significant notes thereto ............................................... 4(1) Quarterly consolidated balance sheet ................................................................................................. 4(2) Quarterly consolidated statement of income and quarterly consolidated statement ofcomprehensive income ....................................................................................................................... 6Quarterly consolidated statement of income (cumulative) ................................................................. 6
Quarterly consolidated statement of comprehensive income (cumulative) ........................................ 7(3) Notes to quarterly consolidated financial statements ......................................................................... 8Notes on premise of going concern .................................................................................................... 8Notes on significant changes in the amount of shareholders’ equity .................................................. 8-1-Paramount Bed Holdings Co., Ltd. (7817)

1. Qualitative information regarding financial results for the period under review(1) Information regarding operating results
During the three months ended June 30, 2023, the Japanese economy saw the easing of various
restrictions related to COVID-19 infections and the normalization of social and economic activities.
However, the future remains unclear due to factors such as surging resource prices associated with theprotracted situation in Ukraine and foreign exchange rate trends associated with rising overseas interest
rates and prices.
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 moving forward withactivities in preparation for the basic policies of Phase II: “expansion of recurring revenue business,”“advancement of health promotion business,” and “leap forward in key areas of Asia.” The Group has
set targets of ¥120,000 million in net sales and ¥17,000 million in operating profit for the fiscal year
ending March 31, 2027, which is the final year of Phase II.
In terms of our results for the three months ended June 30, 2023, net sales in the medical care businessincreased 7.2% year-on-year to ¥9,186 million, mainly due to the steady expansion of recurring
revenue business in Japan and higher overseas sales year-on-year, primarily in China. In the nursing
care business, net sales increased 6.6% year-on-year to ¥13,953 million, mainly due to efforts toexpand sales of products other than beds for home care, as well as steady performance of rental
wholesale business for home care and sales for nursing facilities. In the health promotion business,“INTIME 1000,” the core model of the INTIME series, was fully remodeled in April 2023. In addition
to promoting the introduction of displaying the new model at retail stores, we are building a newpromotional strategy. Net sales in the health promotion business increased by 7.1% year-on-year to¥700 million.
Topics include the establishment of a new Saitama Branch in Minuma-ku, Saitama-shi, Saitama on
May 10, 2023 and the relocation of the Minami-Tokyo Branch to Omoriminami, Ota-ku, Tokyo on May
29, 2023 to improve sales and delivery efficiency and customer convenience for Paramount Care
Service Co., Ltd., which operates a rental wholesale business for assistive products.
In terms of product development, we launched “Lifmia,” an electric lift-up chair designed to allow
users to sit comfortably for long periods of time, on June 1, 2023. We aim to improve the quality of life(QOL) of those requiring nursing care by encouraging them to get out of their nursing beds.
The information on disaggregation of net sales for the three months ended June 30, 2023 is as follows.
Net sales by business(Millions of yen)
Sales categories

Three months ended
June 30, 2022

Three months ended
June 30, 2023

ChangeMedical care

8,571

9,186

7.2%

Nursing care

13,085

13,953

6.6%

Health promotion

653

700

7.1%

Others

442

477

8.0%

Total

22,752

24,318

6.9%-2-Paramount Bed Holdings Co., Ltd. (7817)Net sales by region(Millions of yen)
Sales categories

Three months ended
June 30, 2022

Three months ended
June 30, 2023

ChangeDomestic

20,724

21,791

5.1%

Overseas

2,027

2,526

24.6%

Total

22,752

24,318

6.9%

As a result of the above, net sales for the three months ended June 30, 2023 increased by ¥1,565
million (up 6.9%) year-on-year to ¥24,318 million. In terms of profits, while gross profit margin
improved, expenses such as system-related expenses for the launch of a new Enterprise Resource
Planning system and personnel expenses for business expansion increased. This resulted in operating
profit increasing by ¥48 million to ¥3,258 million (up 1.5%), ordinary profit increasing by ¥215 million
to ¥4,178 million (up 5.4%), and profit attributable to owners of parent increasing by ¥173 million to¥2,859 million (up 6.5%).
As the Group’s business consists of a single segment, segment information has been omitted.
(2) Information regarding financial position
Total assets as of June 30, 2023 stood at ¥170,055 million, a decrease of ¥2,238 million compared withthe end of the previous fiscal year. The main aspects that contributed to this decrease were decreases incash and deposits, and notes and accounts receivable - trade.
Total liabilities stood at ¥38,948 million, a decrease of ¥4,647 million compared with the end of theprevious fiscal year. The main aspects that contributed to this decrease were decreases in income taxes
payable, and notes and accounts payable - trade.
Net assets stood at ¥131,106 million, an increase of ¥2,409 million compared with the end of theprevious fiscal year. The main aspects that contributed to this increase were increases in retainedearnings, and foreign currency translation adjustment. As a result of the above, equity-to-asset ratio asof June 30, 2023 rose by 2.4 points, compared with the end of the previous fiscal year to 77.1%.
(3) Information regarding consolidated earnings forecasts and other forward-looking statements
No revisions have been made to the consolidated earnings forecasts announced on May 11, 2023.

-3-

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, netLand
Leased assetsAccumulated 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-4-

As of June 30, 2023

39,82024,793
5,526
13,412
8,233
362
2,660
2,408
(83)
97,13535,422
22,5895,978
13,6198,670
4452,974
2,153(83)91,77032,171(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
43,57932,315(22,873)
9,442
9,578
(8,192)
1,386
8,846
2,651
(1,435)
1,216
53,673(33,042)
20,630446
11,077(9,601)
1,476
43,445

4,344
4,344

4,514
4,514

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

20,08911,125(889)30,32578,284
170,055

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 liabilities
Lease 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-5-

As of June 30, 2023

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

12,010
1,491
729
764

28

–

7,239
26,3006,256
21,253

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

4,022
7,156
6,515
17,69538,9484,207
51,902
76,338(6,742)
125,705

4,207
51,902
77,390(6,742)
126,758889
2,400(299)2,990
0128,697
172,293

1,348
3,310(311)4,347
0131,106
170,055

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)Three months ended
June 30, 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
OtherTotal 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 redemption of investment securities
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
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-6-

Three months ended
June 30, 2023

22,752
11,718
11,0337,823
3,210

24,31812,39611,921
8,662
3,258

40
76
619
13
70
52
873

56
53
701
102
56
64
1,036

23
88
8
121
3,962

27
84
5
117
4,178

23
23

19
19

13
13
3,972
809
477
1,286
2,685
0
2,685

4
4
4,192
902
431
1,333
2,859
0
2,859

Paramount Bed Holdings Co., Ltd. (7817)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 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-7-

Three months ended
June 30, 2023

2,685

2,859

(48)
1,203
27
1,181
3,867

459
909
(11)
1,357
4,216

3,866

4,216

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’ equityNot applicable.

-8-