Newly Listed Company Introduction Report (Issued by The Stock Research Center)

Emimen(9237 TSE Growth)

November 22 2023

Providing senior home referrals and related services
This report is an English translation of part of the report issued on October 31, 2023.
For inquiries concerning the report, please contract info@stock-r.org【9237 Emimen Sector：Services】
Fiscal Year
Oct.2021
Oct.2022
Oct.2023

f

Net sales

YoY

OperatingprofitYoY

Ordinary
profitYoYProfit

YoY

EPS

BPS

DPS

(mn yen)(%)(mn yen)(%)(mn yen)(%)(mn yen)(%)(yen)(yen)(yen)

429

12.0

609

41.8

24-

23-

788

29.4

115

4.8x

114

5.0x

-75

-

-73-

-78-

-48.4

2.4-

35-

21.1

23.5

-

146

4.2x

87.9

-

-

Note: Non-consolidated basis.Figures for the fiscal year ending Ocotober 2023 is the company's forecasts.
It conducted 1:30 stock split on June 30, 2023.Per share indicies are adjusted retroactively.

Providing Senior Home Referrals and Related Services
Emimen is engaged in the senior life support business that provides elderly individuals
and their families with referrals to senior homes such as fee-based nursing homes, elderly
housing with supportive services and group homes. It also provides the Care Primebusiness, which offers consulting and information to senior home operators. As of the endof August 2023, the number of partner senior homes to which it provides referrals reached
8,864.

Senior Life Support Business
Emimen provides face-to-face senior home referral services to people thinking about
moving into senior homes. Using detailed information gathered through direct interviews
and other sources, Emimen's coordinators introduce senior homes tailored to the physicalconditions and family circumstances of prospective residents. By offering support until themove-in process is complete, they help to alleviate the anxiety and burdens of prospectiveresidents.
The company partners with medical social workers at hospitals who deal with early
discharge, as well as care managers who support elderly in-home care and otherprofessionals, referred to as "referral partners." They introduce those looking for seniorhomes to Emimen, providing a continuous flow of referral requests.

Care Prime Business
Services in its Care Prime business include consulting services for opening new seniorhomes, improving operational efficiency at existing senior homes and operating the Care
Prime community website.
Emimen’s consulting for opening senior homes involves matching landowners and othercompanies who are considering operating senior homes with senior home operators.
Improving senior home operational efficiency requires providing information to theoperators in order to enhance nursing care operations and reduce costs.
Eminem's Care Prime community website is an information resource for sharing
information with senior home operators. The company's coordinators provide potential
tenants with information collected from senior homes and also share feedback from thesetenants with the senior home operators.

Newly Listed Company Introduction Report

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The contents indicated in the report are based on information as of the date the report was created and are subject to change without prior notice. The Stock Research Center
makes no warranty or representation concerning the accuracy, reliability, completeness, adequacy and reliability of the information indicated in the report, and shall not assume
no responsibility or obligation whatsoever. The Stock Research Center assumes no responsibility for any direct or indirect loss, lost profit, damage or other results from investors
accessing and using the report or relying on the report concerning the distribution of the report. Final investment decisions shall be made by the investors themselves, and entire
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not be copied, reprinted, quoted, etc. without permission.

Newly Listed Company Introduction Report (Issued by The Stock Research Center)

Emimen(9237 TSE Growth)

November 22 2023

Financial StatementsStatement of income

Fiscal Year

Oct.2021(mn yen)Nine months
to Jul.2023

Oct.2022(%)(mn yen)(%)(mn yen)(%)

Operating income

429

100.0

609

100.0

577

100.0

Operating expenses

505

117.7

584

95.9

506

87.6

Operating profit

-75

-17.7

24

4.1

71

12.4

Non-operating income

4-

0-0-

Non-operating expenses

1-1-

2-

Ordinary profit

-73

-17.1

23

3.8

69

11.9

Profit before income taxes

-78

-18.2

23

3.8

69

11.9

Net profit

-78

-18.3

35

5.7

66

11.6

Balance sheet

Fiscal Year

Oct.2021(mn yen)Current assets

Oct.2022(%)(mn yen)Jul.2023(%)(mn yen)

(%)

251

92.8

269

86.0

374

89.8

Cash and deposits

191

70.5

192

61.6

194

46.6

Accounts receivable-trade

48

17.7

63

20.2

130

31.2

Non-current assets

19

7.1

43

14.0

42

10.2

Property, plant and equipment

6

2.6

7

2.3

6

1.5

Intangible assets

2

1.1

8

2.7

10

2.6

Investments and other assets

9

3.5

27

8.6

25

6.1

Total assets

271

100.0

313

100.0

417

100.0

Current liabilities

114

42.1

137

43.8

184

44.0

00.020.7

20.5

Accounts payable - trade
Current portion of long-term borrowings.
Non-current liabilities
Long-term borrowings
Net assets
Owners' equity

Statement of cash flows

Fiscal Year

Cash flows from operating activities
Depreciation

32

11.8

17

5.7

24

5.8

153

56.4

135

43.4

127

30.6

145

53.7

129

41.4

119

28.7

3

1.5

39

12.5

105

25.3

3

1.5

39

12.5

105

25.3

Oct.2021

Oct.2022(mn yen)(mn yen)

-75

38

22

Cash flows from investing activities-6-6

Cash flows from financing activities

8-30--Dividends paid
Net increase in cash and cash equivalents-73

1

Cash and cash equivalents

190

191

Note:Non-consolidated
Source: Prepared by Stock Research Center based on the notifiable prospectus.

Newly Listed Company Introduction Report

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no responsibility or obligation whatsoever. The Stock Research Center assumes no responsibility for any direct or indirect loss, lost profit, damage or other results from investors
accessing and using the report or relying on the report concerning the distribution of the report. Final investment decisions shall be made by the investors themselves, and entire
responsibility for investments lies with investors that accessed the report. In addition, intellectual rights concerning the report belongs to The Stock Research Center and may
not be copied, reprinted, quoted, etc. without permission.

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