Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Summary of Non-Consolidated Financial Results
for the Six Months Ended January 31, 2023
[Based on Japanese GAAP]
March 10, 2023
Company name: SILVER LIFE CO., LTD.
Stock exchange listing: Tokyo
Code number: 9262
URL: https://www.silver-life.co.jp/
Representative: Takahisa Shimizu
President, CEOContact: Hirokazu Masuyama
Director, Administration ManagerPhone: (03)6300-5629
Scheduled date of filing quarterly securities report: March 10, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Non-consolidated Financial Results for the Six Months Ended January 31, 2023 (August 01, 2022 to January 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net salesSix months ended
January 31, 2023
January 31, 2022

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen%

6,015
5,450

10.4
11.5

417
312

33.6(49.0)

507
382

32.8(43.1)

317
254

24.6
(39.0)

Basic earnings
per share
Six months ended
January 31, 2023
January 31, 2022

Diluted earnings pershare
Yen

Yen

29.40
23.63

29.00
23.23

(2) Non-consolidated Financial Position
Total assets
As ofJanuary 31, 2023
July 31, 2022
(Reference) Equity:

Net assets

Million yen

Million yen

9,217
8,859As of January 31, 2023:
As of July 31, 2022:

Capital adequacy ratio

¥¥―1―

5,625
5,304
5,625 million
5,304 million

%

61.0
59.9

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended July 31, 2022

-

0.00

-

0.00

0.00

Fiscal year ending July 31, 2023

-

0.00
-

15.00

15.00

Fiscal year ending July 31, 2023
(Forecast)Year-end

Total(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 2nd quarter dividend for the fiscal year ending July 31, 2023 :Commemorative dividend- yenSpecial dividend- yen
3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending July 31, 2023(August 01, 2022 to July 31, 2023)(% indicates changes from the previous corresponding period.)
Basic earnings
Net sales
Operating profit
Ordinary profit
Net income
per share%

Million yen%

Million yen%

Yen

Full year
12,700
13.2
700
24.7
(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

860

21.2

550

36.950.96No* Notes:(1) Accounting policies adopted specially for the preparation of quarterly Non-consolidated financial statements:(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
January 31, 2023:
10,810,800 shares
July 31, 2022:
10,792,400 shares2) Total number of treasury shares at the end of the period:
January 31, 2023:
422 shares
July 31, 2022:
399 shares
3) Average number of shares during the period:
Six months ended January 31, 2023:
Six months ended January 31, 2022:

10,801,627 shares
10,781,127 shares―2―Quarterly Non-consolidated Financial Statements
Quarterly Non-consolidated Balance Sheets(Thousand yen)
As of July 31,2022

As of January 31,2023

AssetsCurrent assets
Cash and deposits1,474,844

1,733,483

1,019,139
287,792926,597
389,998

Raw materials and supplies
Other

28,053
481,462

35,242536,085

Allowance for doubtful accounts(58,705)(63,538)

3,232,587

3,557,868

3,016,529

2,975,578

1,305,483-

1,273,986
71,802

Accounts receivable - trade
Merchandise and finished goods

Total current assets
Non-current assets
Property, plant and equipment
Buildings, net
Machinery and equipment, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assetsOther
Allowance for doubtful accounts
Total investments and other assets

767,050

793,189

5,089,063

5,114,556

329,146

361,413

223,394(14,666)

198,993(15,258)

208,727

183,734

5,626,937

5,659,705

8,859,525

9,217,573

Current liabilities
Accounts payable - trade570,916

501,154

Contract liabilities
Lease liabilities

11,458720

10,058720

Accounts payable - other
Current portion of long-term borrowings

403,436
239,400

506,962
239,400

Income taxes payable
Provision for shareholder benefit program

54,512
61,527203,104
13,423

Other

65,54490,510Total non-current assets
Total assets
Liabilities

Total current liabilities

1,407,517

1,565,334

Non-current liabilities
Long-term borrowings

1,951,450

1,831,750

Lease liabilities
Other

2,762
193,417

2,402
192,927

2,147,630

2,027,080

3,555,147

3,592,414

Shareholders' equity
Share capital

725,645727,266

Capital surplus
Retained earnings

715,6453,864,006

717,266
4,181,582

Total non-current liabilities
Total liabilities
Net assets

Treasury shares
Total shareholders' equity
Total net assets
Total liabilities and net assets―3―(919)(956)

5,304,378

5,625,158

5,304,378

5,625,158

8,859,525

9,217,573

Quarterly Non-consolidated Statements of Income
Quarterly Non-consolidated Statements of Income (For the six months)(Thousand yen)
For the six months
ended January 31,2022

For the six months
ended January 31,2023

Net sales
Cost of sales

5,450,333
4,068,227

6,015,308
4,194,233

Gross profit

1,382,106

1,821,075

Selling, general and administrative expenses

1,069,834

1,403,763

312,271

417,312Interest incomeCompensation income

6,146
61,705

6,483
81,141

Other

23,88424,365

Total non-operating income

91,736111,990

Non-operating expenses
Interest expenses

2,615

2,354

Rental expenses
Bad debt expenses

12,961
4,003

9,146
1,630

Provision of allowance for doubtful accounts
Depreciation

2,281
-

2,360
5,718

Operating profit
Non-operating income

Other

31827

21,89422,038

Ordinary profit

382,114507,264

Extraordinary income
Gain on sale of non-current assets

22,900-Total extraordinary income

22,900-7,090

13

Total non-operating expenses

Extraordinary losses
Loss on retirement of non-current assets

7,090

13

Profit before income taxes

Total extraordinary losses

397,923507,251

Income taxes - current

110,747

186,870

Income taxes - deferred

32,3882,805

Total income taxes

143,135

189,675

Profit254,788

317,575―4―

Quarterly Non-consolidated Statements of Cash Flows(Thousand yen)
For the six months
ended January 31,2022
Cash flows from operating activities
Profit before income taxes

For the six months
ended January 31,2023

397,923507,251

Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for shareholder
benefit program
Interest and dividend income
Interest expenses

279,603
2,739

322,564
5,425(8,922)(48,104)(6,146)2,615(6,483)
2,354

Loss (gain) on sale of property, plant and equipment
Loss on retirement of property, plant and equipment(22,900)
7,298

13

Decrease (increase) in trade receivables
Decrease (increase) in inventories

71,312(55,397)

92,542(109,394)

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes

8,150322,177(69,761)
32,210

Increase (decrease) in contract liabilities
Other, net(103,389)(6,096)(50,804)

Subtotal

895,064

671,715

6,146

6,483

Interest paid
Income taxes paid

(2,559)(177,812)(2,286)(46,627)

Net cash provided by (used in) operating activities

720,840629,284(1,115,653)(197,819)

Proceeds from sale of property, plant and equipment
Purchase of intangible assets

65,000(43,450)(77,749)

Loan advances
Proceeds from collection of loans receivable(7,150)
7,970

(630)
6,719

Interest and dividends received

Cash flows from investing activities
Purchase of property, plant and equipment

Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Other, net

(89)

(207)

135

13,205325

2,692

Net cash provided by (used in) investing activities(1,092,913)(253,790)

500,000(119,700)(119,700)

-(36)
(360)

Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Repayments of lease liabilities
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents

3,016

3,241

383,316(116,855)--

11,242

258,638

Cash and cash equivalents at beginning of period

1,472,438

1,474,844

Cash and cash equivalents at end of period

1,483,681

1,733,483―5―