# Premier Anti-Aging Co., Ltd.: business model and financials

> Latest period: FY ending Jul 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第16期(2024/08/01－2025/07/31) (S100YTAL)
> Page: https://vizora.meequs.com/en/company/p-antiaging
> Retrieved: 2026-09-30T22:40:41.624Z

## Company

Premier Anti-Aging, founded in 2009, is a company in Apparel listed on TSE Growth. It has 216 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Premier Anti-Aging Co., Ltd. |
| Ticker | 4934 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4934.T) |
| Listing | TSE Growth |
| Head office | 東京都港区虎ノ門二丁目6番1号虎ノ門ヒルズステーションタワー |
| Representative (per filing) | 代表取締役社長 松浦 清 |
| Founded | Dec 2009 |
| Share capital | ¥1.35B |
| Employees (consolidated) | 216 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | July |
| Website | www.p-antiaging.co.jp (https://www.p-antiaging.co.jp/) |
| Corporate number | 2010401085273 |
| EDINET | E36046 |
| Industries (Vizora) | Apparel, Cosmetics |

> Profile source: annual securities report (S100YTAL, filed 2026-07-30). As of filing

## Five-axis industry profile

Primary industry: Cosmetics (2025-07-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 36.5 | 26 |
| Cash conversion | 93.2 | 22 |
| Efficiency | 94.2 | 26 |
| Financial strength | 83.3 | 3 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 80% of Premier Anti-Aging's sales come from Antiaging, with Recovery making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed -20.6% from the prior year, operating profit +343.9%.

## Company structure

- Segment revenue mix: Antiaging 80.0%、Recovery 20.0%
- Revenue → net income: ¥16160000000 → ¥471000000
- Net income → operating cash flow: ¥471000000 → ¥1472000000（difference ¥1001000000）
- Main uses of operating cash flow: CapEx ¥195000000 / dividends — / buybacks —
- Change in cash: ¥-98000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥16.2B |  |
| Operating income | ¥617M | Margin 3.8% |
| Net income | ¥471M | Margin 2.9% |
| Free cash flow | ¥1.28B |  |
| Largest business | Antiaging | of segment revenue 80.0% |
| Employees (consolidated) | 216 |  |
| EPS | ¥50.47 |  |
| Diluted EPS | ¥50.41 |  |
| Book value per share | ¥723.03 |  |
| Equity ratio | 65.1% |  |
| Shares outstanding | 8,720,534 |  |
| Treasury shares | 100 |  |
| Shareholders | 8,372 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |
| Cash ratio | 45.9% | Net cash ¥3.78B · Cash ÷ revenue 28.8% |
| Vs. industry median margin | -2.3 pp | Cosmetics |
| ROE | 7.4% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2025, employees -6% while operating income rose 344%
- FY2025, operating cash flow is 3.1× net income
- FY2025, revenue is 0.5× its level five years ago

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥20508328000 | ¥16160000000 | — |
| Operating income | ¥1653849000 | ¥617000000 | — |
| Operating margin | 8.1% | 3.8% | -4.2 pp |
| Employees | 85 people | 216 people | — |
| Cash and equivalents | ¥1894719000 | ¥4655000000 | — |

### Change in segment revenue mix

Span: FY ending Jul 2020 → FY ending Jul 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → アンチエイジング事業 | 80.0% |
| 新設・再編 → リカバリー事業 | 20.0% |

Segment revenue source references: 2 (derived)

## Income statement（FY ending Jul 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 16,160 | 100.0% | S100YTAL |
| Cost of revenue | 3,774 | 23.4% | S100YTAL |
| Gross profit | 12,386 | 76.6% | S100YTAL |
| SG&A | 11,768 | 72.8% | S100YTAL |
| Operating income | 617 | 3.8% | S100YTAL |
| Ordinary income | 599 | 3.7% | S100YTAL |
| Pretax income | 588 | 3.6% | S100YTAL |
| Income tax | 116 | 0.7% | S100YTAL |
| Net income | 471 | 2.9% | S100YTAL |
| Net income attributable to owners | 471 | 2.9% | S100YTAL |

## Per ¥100 of revenue（FY ending Jul 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 23 |
| SG&A | 73 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 76.6% → Operating margin 3.8% → Net margin 2.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -20.6%; Core profit growth: +343.9%
Operating leverage (core profit growth ÷ revenue growth): -16.67×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jul 2024 → FY ending Jul 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 20,359 | 16,160 | -4,199 | -20.6% |
| Gross profit | 16,100 | 12,386 | -3,714 | -23.1% |
| Operating income | 139 | 617 | 478 | +343.9% |
| Net income attributable to owners | -1,483 | 471 | 1,954 | — |
| Operating cash flow | 425 | 1,472 | 1,047 | +246.4% |
| Free cash flow | -395 | 1,277 | 1,672 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 11,929 | 243 | 2.0% | 174 | -239 | -275 | S100KYP9 |
| FY ending Jul 2020 | 20,508 | 1,654 | 8.1% | 1,143 | 338 | 196 | S100KYP9 |
| FY ending Jul 2021 | 32,815 | 4,680 | 14.3% | 2,794 | 2,753 | 2,678 | S100PSUA |
| FY ending Jul 2022 | 33,912 | 2,414 | 7.1% | 1,424 | -3,322 | -3,526 | S100S3D0 |
| FY ending Jul 2023 | 26,400 | -611 | -2.3% | -733 | 2,422 | 1,644 | S100ULPV |
| FY ending Jul 2024 | 20,359 | 139 | 0.7% | -1,483 | 425 | -395 | S100YTAL |
| FY ending Jul 2025 | 16,160 | 617 | 3.8% | 471 | 1,472 | 1,277 | S100YTAL |

## People and productivity（FY ending Jul 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥74.8M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 152 | 223 | 252 | 229 | 216 |
| Average salary (parent company) | ¥6.6M | ¥7M | ¥7.2M | ¥7.5M | ¥7.6M |
| Average age (parent company) | 37.1 years | 38.8 years | 39.5 years | 40.2 years | 40.0 years |
| Average tenure (parent company) | 1.4 years | 1.6 years | 2.3 years | 2.9 years | 3.7 years |

Year over year: Employees (consolidated) -5.7% · Revenue (consolidated) -20.6%

## Segments（FY ending Jul 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Antiaging | 12,926 | 80.0% | 408 | 3.2% |
| Recovery | 3,233 | 20.0% | 208 | 6.4% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Antiaging | 80.0% | 66.2% | -13.8 | 3.2% |
| Recovery | 20.0% | 33.8% | 13.8 | 6.4% |

Segment → industry: Recovery → Apparel / Antiaging → Cosmetics

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jul 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,472 | 9.1% | S100YTAL |
| Capital expenditure | 195 | 1.2% | S100YTAL |
| Free cash flow | 1,277 | 7.9% | 算出 |
| Investing cash flow | -229 | -1.4% | S100YTAL |
| Financing cash flow | -1,337 | -8.3% | S100YTAL |
| Change in cash | -98 | -0.6% | S100YTAL |
| Cash and equivalents | 4,655 | 28.8% | S100YTAL |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 6,052 | 2,963 | 4,659 | 4,753 | 4,655 | S100S3D0, S100ULPV, S100YTAL |
| Total assets | 13,071 | 12,300 | 12,135 | 11,002 | 10,140 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Net assets | 6,903 | 8,348 | 7,609 | 6,124 | 6,610 | S100S3D0, S100ULPV, S100YTAL |
| Share capital | 1,348 | 1,352 | 1,351 | 1,351 | 1,351 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Property, plant and equipment | 121 | 110 | 77 | 610 | 553 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Intangible assets excluding goodwill | 150 | 266 | 1,511 | 999 | 914 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Goodwill | — | — | 394 | 352 | 310 | S100ULPV, S100YTAL |
| Investment securities | 10 | 20 | 19 | 10 | 18 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Current assets | 12,480 | 11,517 | 9,229 | 8,882 | 8,073 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Current liabilities | 5,592 | 3,221 | 3,016 | 3,759 | 2,997 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Short-term borrowings | — | 390 | 568 | 1,008 | 405 | S100S3D0, S100ULPV, S100YTAL |
| Long-term borrowings | 546 | 701 | 1,366 | 980 | 451 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Bonds | — | — | 70 | 43 | 17 | S100ULPV, S100YTAL |
| Interest-bearing debt | — | — | 2,004 | 2,031 | 873 | 算出 |
| Total liabilities | 6,168 | 3,952 | 4,525 | 4,877 | 3,530 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Equity attributable to owners of parent | 6,909 | 8,324 | 7,590 | 6,106 | 6,578 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Retained earnings | 4,214 | 5,622 | 4,888 | 3,404 | 3,876 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |
| Treasury stock | -1 | -1 | -1 | -1 | -1 | S100PSUA, S100S3D0, S100ULPV, S100YTAL |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 46% | S100YTAL |
| Property, plant and equipment | 6% | S100YTAL |
| Intangibles and goodwill | 12% | S100YTAL |
| Investment securities | 0% | S100YTAL |
| Other assets | 36% | S100YTAL |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 9% | 算出 |
| Other liabilities | 26% | S100YTAL |
| Equity | 65% | S100YTAL |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 13,071 | 12,300 | 12,135 | 11,002 | 10,140 |
| Equity | 6,903 | 8,348 | 7,609 | 6,124 | 6,610 |
| Interest-bearing debt | — | — | 2,004 | 2,031 | 873 |
| Cash | 6,052 | 2,963 | 4,659 | 4,753 | 4,655 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 3.4% | S100YTAL |
| Fixed assets ÷ total assets | 5.5% | S100YTAL |
| Goodwill ÷ parent equity | 4.7% | S100YTAL |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 45.9% |
| Cash ÷ revenue | 28.8% |
| Net cash (cash − interest-bearing debt) | ¥3.78B |
| Net debt ÷ operating cash flow | -2.57× |
| Cash conversion (operating CF ÷ operating income) | 238.6% |
| Cash vs. profit gap | 1,001 JPY mn (of net income 212.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.2% |
| Investing CF relative to operating CF | 15.6% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 8.5% | 2.51× | 21.4% | 1.89× | 40.4% | S100PSUA |
| 2022 | 4.2% | 2.67× | 11.2% | 1.67× | 18.7% | S100S3D0 |
| 2023 | — | —× | -6.0% | —× | — | S100ULPV |
| 2024 | — | —× | -12.8% | —× | — | S100YTAL |
| 2025 | 2.9% | 1.53× | 4.5% | 1.67× | 7.4% | S100YTAL |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| プレミアマネジメント株式会社 | Major shareholder | 45.6% | 2025-07-31 |
| 松浦 清 | Major shareholder | 21.5% | 2025-07-31 |
| 大木 塁 | Major shareholder | 2.6% | 2025-07-31 |
| 兒嶋 伸二 | Major shareholder | 0.5% | 2025-07-31 |
| 伊藤 弘人 | Major shareholder | 0.5% | 2025-07-31 |
| 今 秀信 | Major shareholder | 0.5% | 2025-07-31 |
| JP JPMSE LUX RE UBS AG LONDON BRANCH EQ CO （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 0.5% | 2025-07-31 |
| BNYM SA／NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 0.5% | 2025-07-31 |
| 永井 崇久 | Major shareholder | 0.4% | 2025-07-31 |
| 尾崎 成彦 | Major shareholder | 0.4% | 2025-07-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第16期(2024/08/01－2025/07/31) | S100YTAL | 2026-07-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YTAL,, |
| 有価証券報告書－第15期(2023/08/01－2024/07/31) | S100ULPV | 2024-10-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ULPV,, |
| 有価証券報告書－第14期(2022/08/01－2023/07/31) | S100S3D0 | 2023-10-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S3D0,, |
| 訂正有価証券報告書－第13期(令和3年8月1日－令和4年7月31日) | S100PSUA | 2022-12-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PSUA,, |
| 有価証券報告書－第12期(令和2年8月1日－令和3年7月31日) | S100MOK9 | 2021-10-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MOK9,, |
| 訂正有価証券報告書－第7期(令和1年8月1日－令和2年7月31日) | S100KYP9 | 2021-03-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KYP9,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).