August 7, 2023

Noevir Holdings Announces Consolidated Results for the First Nine Months of
the Fiscal Year Ending September 30, 2023
(based on Japan GAAP)
Trade name:
Listing:
URL:
Representative:
Contact:

Noevir Holdings Co., Ltd.
Tokyo Stock Exchange, Prime Market (Securities Code: 4928)
https://www.noevirholdings.co.jp/
Takashi Okura, President and CEO
Mitsuyoshi Hanyu, Executive Officer, Accounting
Tel. +81-78-303-5121
Submission of securities report: August 14, 2023
Date of commencement of dividend payments: –Supplemental materials for the financial results prepared: None
Results briefing for the reporting period held: None
(Amounts under one million yen have been rounded down)

1. Operating results for the first nine months of the fiscal year ending September 30, 2023
(October 1, 2022 – June 30, 2023)(1) Consolidated operating results(Millions of yen; percentage figures denote year-on-year change)

Net sales
Nine months ended June 30, 2023
46,882 2.2%
Nine months ended June 30, 2022
45,892–%
Note: Comprehensive income:Nine months ended June 30, 2023: 5,450 million yen [11.9％]
Nine months ended June 30, 2022: 4,869 million yen [–%]

Operatingincome8,781 10.3%
7,959
–%

Ordinary
Net income attributable
incometo owners of the parent
8,959 10.2%
4,695
0.9%
8,127
–%
4,653
–%

EPS (Yen)
Diluted EPS (Yen)
Nine months ended June 30, 2023
137.48—Nine months ended June 30, 2022
136.25—
Note: The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) etc. has been
applied from the beginning of the three months ended December 31, 2021. The figures for the first ninemonths of the fiscal year ended September 2022 are presented after application of this accounting standard,
etc. Therefore, year-on-year changes for these figures are not disclosed.

(2) Consolidated financial position
As of June 30, 2023

Total assets
75,15176,781

As of September 30, 2022
[Reference] Equity:
As of June 30, 2023: 50,034 million yen
As of September 30, 2022: 52,055 million yen- 1 -Net assets
50,491
52,384(Millions of yen)

Equity ratio (%)
66.6
67.8

2. Cash dividends
1st quarter
Fiscal year ended September 30, 2022—

Fiscal year ended September 30, 2023

—

(Yen)

Annual dividends
2nd quarter3rd quarter
Year-end
0.00—
215.00
0.00
—

Total
215.00215.00215.00Fiscal year ending September 30, 2023
(forecast)

Note: Revisions from the most recently announced dividend forecast: None

3. Consolidated earnings forecasts for the fiscal year ending September 30, 2023
(October 1, 2022 – September 30, 2023)(Millions of yen; percentage figures denote year-on-year change)

Net income
attributable toowners of the parent
Full year
61,6000.7% 10,700
5.8% 10,900
4.7%
7,700
1.5%
Note: Revisions from the most recently announced consolidated earnings forecast: None
Net sales

Operating income

Ordinary income

EPS (Yen)
225.43* Notes(1) Significant changes in subsidiaries (scope of consolidation) during period: None
(2) Special accounting treatment for preparation of quarterly consolidated financial statements: None
(3) Changes in accounting principles, procedures, disclosure methods, etc.
1) Changes associated with revision in accounting standards: Yes
2) Other changes: None
3) Changes in accounting estimates: None
4) Restatements: None
(4) Shares outstanding (common stock)
1) Shares outstanding (including treasury stock)

As of June 30, 2023: 34,156,623
As of September 30, 2022: 34,156,623
2) Treasury shares outstanding
As of June 30, 2023: 270
As of September 30, 2022: 270
3) Average shares outstanding over quarter
Nine months ended June 30, 2023: 34,156,353
Nine months ended June 30, 2022: 34,156,386* Quarterly financial results are not audited by a certified public accountant or audit company.
* Explanation regarding the appropriate use of business performance forecasts

Forward-looking statements included in these materials, such as forecasts of business performance, are based on
information known to the Company’s management as of the time of writing, and reflect judgments believed to bereasonable on the basis of that information. There is, therefore, a possibility that actual business performance
figures will differ substantially from our forecasts as a result of changes in the economic situation and other
unforeseeable factors. Please refer to “(3) Estimates and forecasts pertaining to future plans and business results”
under “1.Qualitative information regarding quarterly consolidated business performance” on page 5 of the Attached
Material.

- 2 -Contents of the Attached Material
1. Qualitative information regarding quarterly consolidated business performance ............................ 4(1) Operating results ................................................................................................................. 4(2) Financial position ................................................................................................................ 5(3) Estimates and forecasts pertaining to future plans and business results .................................... 5
2. Quarterly consolidated financial statements and notes .................................................................. 6(1) Quarterly consolidated balance sheets ................................................................................... 6(2) Quarterly consolidated statements of income and comprehensive income ................................ 8(3) Quarterly consolidated statements of cash flows .................................................................. 10(4) Notes to the quarterly consolidated financial statements ....................................................... 11(Note on assumptions for going concern)..................................................................... 11(Note on significant changes in the amount of shareholders’ equity) ....................... 11(Changes in accounting principles）.............................................................................11(Segment information) .................................................................................................. 12- 3 -1. Qualitative information regarding quarterly consolidated business performance(1) Operating results
Consolidated operating results for the first nine months of the fiscal year ending September 30, 2023
(October 1, 2022 to June 30, 2023)
Nine months ended
June 30, 2022
Net sales% of Total(Millions of yen)

Nine months ended
June 30, 2023
Net sales% of Total(Millions of yen)

Change(Millions of yen)

Change(%)

Net sales

45,892100.0

46,882

100.0

989

2.2

Cosmetics

35,991

78.4

36,600

78.1

609

1.7

Pharmaceuticals &Health Food

8,200

17.9

8,646

18.4

446

5.4

Other

1,700

3.7

1,634

3.5

(65)

(3.9)

Nine months ended
Nine months ended
June 30, 2022
June 30, 2023
Change(Millions of yen)AmountAmount% of Net sales% of Net sales(Millions of yen)
(Millions of yen)

Change(%)

Operating income

7,959

17.3

8,781

18.7

821

10.3

Ordinary income

8,127

17.7

8,959

19.1

831

10.2

Net income attributableto owners of the parent

4,653

10.1

4,695

10.0

41

0.9

During the first nine months of fiscal 2023 (October 1, 2022 to June 30, 2023), economic trends remained
uncertain, although some signs of gradual recovery were observed.
In this environment, the Company is working to realize the concept of its medium-term management plan:“Realizing steady corporate growth by securing sustainability in every Group business segment.”
As a result, net sales for the first nine months of fiscal 2023 came to 46,882 million yen (up 2.2% year onyear), operating income was 8,781 million yen (up 10.3%), ordinary income was 8,959 million yen (up 10.2%),
and net income attributable to owners of the parent was 4,695 million yen (up 0.9%).
In the Cosmetics segment, net sales totaled 36,600 million yen (up 1.7% year on year), and segment income
came to 9,326 million yen (up 9.7%).
In the Pharmaceuticals & Health Food segment, net sales totaled 8,646 million yen (up 5.4% year on year), andsegment income came to 1,003 million yen (up 8.2%).
In the Other segment, net sales came to 1,634 million yen (down 3.9% year on year), and segment income
came to 167 million yen (down 28.2%).

- 4 -(2) Financial position
Total assets as of June 30, 2023 stood at 75,151 million yen, a decrease of 1,630 million yen from theprevious fiscal year-end. This was mainly due to a decrease in cash and cash equivalents of 2,303 million
yen.
Total liabilities came to 24,659 million yen, an increase of 262 million yen from the previous fiscal yearend. This mainly reflected increases in income tax payable of 903 million yen and notes and accounts
payable of 327 million yen, as well as a decrease in long-term liabilities (other) of 878 million yen.
Net assets came to 50,491 million yen, a decrease of 1,892 million yen from the previous fiscal year-end.
This was primarily attributable to a decrease in retained earnings of 2,647 million yen, due to thepayment of 7,343 million yen in dividends at the previous fiscal year-end, which was partly offset by net
income attributable to owners of the parent of 4,695 million yen.
As a result, the equity ratio stood at 66.6%.

(Consolidated cash flows)
Cash and cash equivalents (hereinafter, “cash”) on a consolidated basis as of the end of the period underreview stood at 27,226 million yen, a decrease of 2,303 million yen compared to the previous fiscal yearend.
The status of each cash flow together with the factors contributing to their increase or decrease for the
first nine months of fiscal 2023 are presented as follows.
(Cash flows from operating activities)
Net cash provided by operating activities amounted to 5,954 million yen (1,467 million yen more than in
the corresponding period of the previous fiscal year). The main factor increasing cash was income before
income taxes of 8,963 million yen, and the main factor decreasing cash was net income tax paid of 1,894
million.
(Cash flows from investing activities)
Net cash used in investing activities came to 844 million yen (472 million yen more than in thecorresponding period of the previous fiscal year). The principal cash outflows were 537 million yen forthe purchase of property, plant and equipment and 315 million yen for the purchase of intangible assets.
(Cash flows from financing activities)
Net cash used in financing activities came to 7,411 million yen (161 million yen more than in thecorresponding period of the previous fiscal year). This was mainly due to the payment of 7,340 million
yen in dividends.
(3) Estimates and forecasts pertaining to future plans and business results
The consolidated business performance forecasts for the full year ending September 30, 2023,
announced on November 10, 2022, remain unchanged.

- 5 -2. Quarterly consolidated financial statements and notes(1) Quarterly consolidated balance sheets
Previous fiscal year
(As of September 30,
2022)
ASSETS
Current assets
Cash and cash equivalents
Notes and accounts receivable
Merchandise and finished goods
Work in progress
Raw materials and purchased supplies
Other receivables
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Equipment and vehicles, net
Land
Lease assets, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 6 -(Millions of yen)
As ofJune 30, 2023

29,747
8,970
6,242
140
1,467
3,391
617
(7)
50,56927,443
9,477
6,834
152
1,662
2,354
720
(5)
48,6405,106784
13,554928
123
195
20,692

4,950
794
13,554866
0
190
20,356

209
119
90
418

186
98
425
709

2,132
1,729
1,257
(19)
5,100
26,212
76,781

3,005
1,308
1,151
(20)
5,444
26,51075,151

Previous fiscal year
(As of September 30,
2022)
LIABILITIESCurrent liabilities
Notes and accounts payable
Lease obligations
Other accounts payable
Income tax payable
Reserve for bonuses
Other
Total current liabilities
Long-term liabilities
Lease obligations
Guarantee deposits received
Deferred tax liabilities
Net defined benefit liability
Other
Total long-term liabilities
Total liabilities
NET ASSETS
Shareholders’ equity
Common stock
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Net unrealized gain on other securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans, net of tax
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets- 7 -(Millions of yen)
As ofJune 30, 2023

2,935
93
3,197
1,085
101
2,239
9,653

3,262
87
3,314
1,989
54
2,191
10,899912
12,001
311
514
1,003
14,74324,397849
11,667593
525
125
13,76024,6597,319
42,982(1)
50,3007,319
40,334(1)
47,652

1,278
486
(8)
1,755
328
52,38476,781

1,883
504
(5)
2,382
457
50,49175,151

(2) Quarterly consolidated statements of income and comprehensive income
Quarterly consolidated statements of income
First nine months of the fiscal year ending September 30, 2023
Nine months ended
June 30, 2022
45,892
13,981
31,911
23,951
7,959

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income(Millions of yen)
Nine months ended
June 30, 2023
46,882
14,50332,37823,597
8,781

6
16

21
21

73

－

72
169

140
184

Loss on currency translation

－

6

Other
Total
Ordinary income
Extraordinary income
Gain on sale of fixed assets

1
1
8,127

0
6
8,959

121

7

961

－

1,083

7

5

3

310

－

315
8,895
3,095
1,078
4,173
4,722
68
4,653

3
8,963
3,698
436
4,134
4,828
132
4,695

Gain on currency translation
Other
Total
Non-operating expenses

Gain on revision of retirement benefit plan
Total
Extraordinary losses
Loss on disposal of fixed assets
Impairment loss
Total
Income before income taxes
Income taxes – basic
Income taxes – deferred
Total
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of the parent- 8 -Quarterly consolidated statements of comprehensive income
First nine months of the fiscal year ending September 30, 2023

Net income
Other comprehensive income
Net unrealized gain on other securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans, net of tax
Total
Comprehensive income(Breakdown)Comprehensive income attributable to owners of the parent
Comprehensive income attributable to non-controlling interests- 9 -Nine months ended
June 30, 2022
4,722(Millions of yen)
Nine months ended
June 30, 2023
4,828

(507)
535
119
147
4,869

604
14
2
622
5,450

4,739
130

5,322
128

(3) Quarterly consolidated statements of cash flows
Nine months ended
June 30, 2022
Cash flows from operating activities
Income before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in reserve for doubtful accounts
Increase (decrease) in reserve for bonuses
Increase (decrease) in net defined benefit asset and liability
Increase (decrease) in accounts payable due to transition to aretirement benefit planInterest and dividends received
Loss (gain) on currency translation
Loss (gain) on sales of disposal of non-current assets
Gain on revision of retirement benefit plan
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in guarantee deposits
Other
SubtotalInterest and dividends received
Income tax (paid) refunded
Net cash provided by (used in) operating activities
Cash flows from investing activities
Expenditure for deposit to time deposits
Proceeds from withdrawal of time deposits
Purchase of investment securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Net cash provided by (used in) investing activities
Cash flows from financing activities

Purchase of treasury stock
Cash dividends paid
Other
Net cash provided by (used in) financing activities
Effects of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents
Cash and cash equivalents, beginning of the period
Cash and cash equivalents, end of the period- 10 -(Millions of yen)
Nine months ended
June 30, 2023

8,895
1,051
310
23
(1)
(47)
(4,046)

8,963
869
－
23
( 0)
(47)
10

1,876

(992)

(23)
(26)
(116)
(961)
198
(402)
712
(327)
624

(43)

2
( 3)
－
(501)
(790)
331
(334)
328
7,813

7,740
22
(3,275)
4,486

35(1,894)
5,954

(238)
238
(1)
(512)
207
(66)
(372)

(196)
196
(1)
(537)
10
(315)
(844)

(0)
(7,165)(84)－(7,340)(71)(7,411)(1)(2,303)29,53027,226(7,249)416(2,718)30,841
28,122

(4) Notes to the quarterly consolidated financial statements(Note on assumptions for going concern)
Not applicable(Note on significant changes in the amount of shareholders’ equity)
Not applicable(Changes in accounting principles）(Application of FASB Accounting Standards Codification (ASC) Topic 842, “Leases”))
The Company’s overseas consolidated subsidiaries that apply U.S. GAAP have applied ASC Topic 842,
“Leases,” from the beginning of the three months ended December 31, 2022, and have decided, inprinciple, to record all lease transactions by lessees at its overseas consolidated subsidiaries as assets andliabilities on the balance sheet.
In applying the accounting standard, the Company follows the transitional treatment, and has adopted amethod that recognizes the cumulative effects caused by the change in accounting policy beginning on
the initial date of application.
As a result, as of June 30, 2023, other in intangible assets increased by 29 million yen, other in current
liabilities increased by 18 million yen, and other in long-term liabilities increased by 11 million yen
respectively. Furthermore, there will be no impact on operating results for the first nine months of the
fiscal year ending September 30, 2023.

- 11 -

(Segment information)
Ⅰ Consolidated results for the first nine months of the fiscal year ended September 30, 2022
(October 1, 2021 to June 30, 2022)
1. Net sales and income (loss) data, by reportable segment(Millions of yen)

Cosmetics

Pharmaceuticals &Health Food

Other

Total

Amounts
included inquarterly
Adjustment
consolidated(Note 1)statements ofincome(Note 2)

Net sales
Revenue fromcontracts with
35,9918,200
1,636
45,828－45,828customers
Other revenue
－
－
64
64
－
64
Sales, external
35,9918,200
1,700
45,892－45,892
Intersegment sales
－
－
218
218
(218)
－
Total
35,9918,200
1,919
46,111(218)
45,892
Segment income
8,502
927
233
9,664
(1,704)
7,959(Note 1) Intersegment eliminations totaling 381 million yen and unallocated corporate expenses totaling (2,085)
million yen have been included in the segment income adjustment totaling (1,704) million yen.
Corporate expenses refer to Noevir Holdings Co., Ltd.’s administration costs, which do not come under
any reportable segments.
(Note 2) Segment income refers to operating income as reported in the quarterly consolidated statements ofincome, after adjustment.

2. Impairment loss for non-current assets and goodwill, by reportable segment(Impairment loss for non-current assets)
The carrying amount of land and buildings, etc., of facilities the Company decided to sell were written
down to the recoverable amount, and the amount of the decrease was recorded as impairment loss.
The following amounts were recorded as impairment losses for the first nine months of the fiscal year
under review: 276 million yen in the Cosmetics segment, 27 million yen in the Pharmaceuticals & Health
Food segment, and 6 million yen in the Other segment.

- 12 -

Ⅱ

Consolidated results for the first nine months of the fiscal year ending September 30, 2023
(October 1, 2022 to June 30, 2023)
1. Net sales and income (loss) data, by reportable segment(Millions of yen)

Cosmetics

Pharmaceuticals &Health Food

Other

Total

Amounts
included inquarterly
Adjustment
consolidated(Note 1)statements ofincome(Note 2)

Net sales
Revenue fromcontracts with
36,6008,646
1,573
46,821－
46,821
customers
Other revenue
－
－
61
61
－
61
Sales, external
36,6008,646
1,634
46,882－
46,882
Intersegment sales
－
－
209
209
(209)
－
Total
36,6008,646
1,844
47,091(209)
46,882
Segment income
9,326
1,003
167
10,498(1,716)
8,781(Note 1) Intersegment eliminations totaling 402 million yen and unallocated corporate expenses totaling (2,119)
million yen have been included in the segment income adjustment totaling (1,716) million yen.
Corporate expenses refer to Noevir Holdings Co., Ltd.’s administration costs, which do not come under
any reportable segments.
(Note 2) Segment income refers to operating income as reported in the quarterly consolidated statements ofincome, after adjustment.

2. Impairment loss for non-current assets and goodwill, by reportable segment
Not applicable- 13 -