Premier Anti-Aging Co., Ltd.
4934・Growth Market・Chemicals
Business
Premier Anti-Aging Co., Ltd. is an anti-aging company founded in 2009. It operates two businesses: the Anti-Aging Business (approximately 80% of sales composition), which offers skincare, hair care, and inner care products under multiple brands such as "DUO," "Kanadel," and "Craie ence"; and the recovery wear business (approximately 20%) conducted through VENEX Co., Ltd., which became a subsidiary in January 2023. Its main customers range widely from beauty-conscious women in Japan to business professionals and homemakers. The company employs a multi-channel strategy encompassing mail order, wholesale, e-commerce malls, and cross-border e-commerce, and recorded net sales of ¥16,160 million in FY2025 (ending July 2025).
Business Model
In the Anti-Aging Business, subscription sales through the company's own EC site (recurring revenue that accounts for the majority of mail-order sales) form the core. Manufacturing is outsourced, and the company operates on a fabless basis, concentrating management resources on product planning, development, marketing, and CRM. Wholesale sales are distributed to approximately 18,000 stores nationwide. The Recovery Business is handled by VENEX, which has an integrated supply chain from yarn production through sewing, and operates across multiple channels including online, department stores, and directly managed stores.
Company Strengths
DUO 'The Cleansing Balm' has secured the No.1 share in the cleansing balm brand category for 7 consecutive years from 2018 to 2024 (according to Fuji Keizai). Cumulative shipment volume surpassed 50 million units in January 2025, and the 15th anniversary renewal in February 2025 won the Best New Product award at the @cosme Best Cosmetics Awards 2025 First Half, demonstrating sustained maintenance and enhancement of brand value.
As of the end of July 2025, the cumulative number of mail-order accounts reached approximately 3.9 million. Subscription sales account for the majority of mail-order revenue, representing a stock-type revenue model, and the LTV of subscription customers is on an upward trend due to the expansion of CRM initiatives. Combined with improved efficiency in advertising expenses (advertising expense ratio to sales of 24.3%, down 6.9 percentage points year on year), this is contributing to improvements in the earnings structure.
The Recovery Business of subsidiary VENEX achieved sales of ¥3,233 million (up 60.0% year on year) in the fiscal year ended July 2025, significantly exceeding the initial plan. On the financial side, the company has been repaying borrowings while maintaining a healthy equity ratio of 65.07%. Cash and cash equivalents stood at ¥4,655 million, reflecting continued improvement in financial soundness.
ENVALITH's Perspective
Performance Trend
After peaking at ¥32,815 million in FY2021, revenue has continued to decline, and full-year guidance for FY2026 was revised downward to ¥13,500 million (down 16.5% year on year). For the cumulative nine months of the third quarter of FY2026 (July 2026), net sales were ¥10,591 million (down 15.3% year on year), operating profit was ¥742 million (down 41.4%), ordinary profit was ¥833 million (down 31.3%), and quarterly net profit attributable to owners of the parent was ¥542 million (down 28.9%). The main cause was declining advertising efficiency in new customer acquisition for mail-order sales in the Anti-Aging Business. The Recovery Business saw a 12.7% increase in revenue but posted an operating loss due to upfront investment. Regarding the external environment, although consumer sentiment has deteriorated amid rising prices driven by higher crude oil costs, government subsidies suppressing energy prices and a recovery in real income from wage increases have supported personal consumption. The financial position remains sound, with total assets of ¥10,474 million and an equity ratio of 67.9%.
Growth Strategy
Two-axis growth strategy centered on the bottoming-out and rebound of the Anti-Aging Business and accelerated growth in the Recovery Business
While continuing new customer acquisition measures such as enhanced outreach to non-trial customer segments (e.g., trial set offers for the 3-piece skincare set), the company aims to improve LTV through promotions to boost the retention rate of subscription customers and the introduction of new/limited products to encourage cross-selling. However, as of now, this has not been sufficient to offset the decline in new customer acquisition.
Following the full renewal of the "The Cleansing Balm" series, the company continues to roll out collaborative promotions with wholesale partner companies, triggered by its win at the @cosme Best Cosmetics Awards. In-store sales are progressing steadily, and test marketing continues for the new wholesale-dedicated brand "Lala Skin Brand Series," among others.
The company is sequentially rolling out products such as "DUO Cleanse Serum Peel & Boost" (ranked 3rd in the New Best Cleansing category at the @cosme Best Cosmetics Awards 2026 First Half), "Kanadel Premier Moist Cool," and "Reinka Stem Treatment Recovery Mask," aiming to expand its brand portfolio.
In addition to the flagship brand "VENEX Recovery Wear (Standard Dry Plus)", products such as "Recovery Cool Plus (Comfort Cool Renewal Product)" and "Comfort Poncho" have steadily increased sales through offline channels such as department stores, achieving a 12.7% year-on-year increase. The company continues to invest in advertising expenses to improve brand awareness and to strengthen its organization through hiring, remaining in an upfront investment phase.
Last updated: July 17, 2026