JMDC : Summary of Financial Statements for the Three Months Ended June 30, 2023 (Consolidated)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Financial Statements for the Three Months

Ended June 30, 2023 [IFRS] (Consolidated)

	August 9, 2023
Company name:	JMDC Inc.
Listing:	Tokyo Stock Exchange
Stock code:	4483
URL:	https://www.jmdc.co.jp/en/
Representative:	Ryo Noguchi, President and CEO
Inquiries:	Tomohiro Mochizuki, Senior Executive Officer and CFO
TEL:	[phone]

Scheduled date to file quarterly securities report:	August 14, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2024 (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)
	Revenue		Operating profit	Profit before tax	Profit
Three months ended	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen		%
June 30, 2023	6,698		16.0	2,546		135.5	2,552		127.8	2,040		168.5
June 30, 2022	5,776		27.5	1,081		31.3	1,120		38.8	759		41.0
	Profit attributable to	Total comprehensive	Basic earnings	Diluted earnings
	owners of parent	income		per share		per share
Three months ended	Millions of yen		%	Millions of yen		%			Yen			Yen
June 30, 2023	2,040		166.5	2,043		167.8			32.42			31.07
June 30, 2022	765		42.1	762		41.7			13.55			12.73

Reference: EBITDA	Three months ended June 30, 2023	¥1,679 million [10.4%]
	Three months ended June 30, 2022	¥1,521 million [30.7%]

Note: EBITDA: Operating profit + Depreciation and amortization ± Other income and/or expenses

(2) Consolidated financial position

	Total assets	Total equity	Equity attributable to	Ratio of equity
	attributable to owners
	owners of parent
			of parent
As of	Millions of yen	Millions of yen	Millions of yen	%
June 30, 2023	97,523	65,841	65,856	67.5
March 31, 2023	98,567	64,524	64,539	65.5

2. Cash dividends

				Annual dividends
	First quarter-end	Second quarter-end		Third quarter-end		Fiscal year-end		Total
	Yen	Yen		Yen		Yen		Yen
Fiscal year ended	-	0.00		-	12.00	12.00
March 31, 2023
Fiscal year ending	-
March 31, 2024
Fiscal year ending		-		-		-		-
March 31, 2024
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

(Percentages indicate year-on-year changes.)

Profit

Basic

Revenue

Operating profit

Profit before tax

Profit

attributable to

earnings per

owners of parent

share

Millions

%

Millions

%

Millions

%

Millions

%

Millions

%

Yen

of yen

of yen

of yen

of yen

of yen

Fiscal year ending

33,000

18.7

8,800

48.5

8,750

48.9

6,500

52.1

6,500

52.3

103.32

March 31, 2024

Note: Revisions to the earnings forecasts most recently announced: Yes

For details, please refer to "1. Qualitative information regarding financial results for the three months ended June 30, 2023 (3) Explanation of consolidated earnings forecasts and other forward-looking statements" on page 5 of the attached materials.

Reference: EBITDA Fiscal year ending March 31, 2024

¥9,750 million [26.3%]

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies and changes in accounting estimates

(i) Changes in accounting policies required by IFRS:	None
(ii) Changes in accounting policies due to other reasons:	None
(iii) Changes in accounting estimates:	None

1. Number of issued shares (ordinary shares)
2. 1. Total number of issued shares at end of the period (including treasury shares)

As of June 30, 2023

As of March 31, 2023

62,977,408 shares

62,910,608 shares

(ii) Number of treasury shares at end of the period

As of June 30, 2023

As of March 31, 2023

1. shares

1. shares

1. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

For the three months ended June 30, 2023

For the three months ended June 30, 2022

62,939,621 shares

56,526,889 shares

• Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special items Notes on forward-lookingstatements
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable by the Company. Actual business and other results may differ substantially due to various factors. For details regarding matters related to earnings forecasts, please refer to page 5 of the attached materials.
  How to obtain supplementary documents on financial results
  Supplementary documents on financial results are released via TDnet on the same day.

JMDC Inc. (4483)

Attached Material Index
1. Qualitative information regarding financial results for the three months ended June 30, 2023	............... 2
(1)	Explanation of operating results	2
(2)	Explanation of financial position	4
(3)	Explanation of consolidated earnings forecasts and other forward-looking statements	5
2. Condensed quarterly consolidated financial statements and significant notes thereto	6
(1)	Condensed quarterly consolidated statement of financial position	6
(2)	Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated
	statement of comprehensive income	7
(3)	Condensed quarterly consolidated statement of changes in equity	9
(4)	Condensed quarterly consolidated statement of cash flows	11
(5)	Notes to condensed quarterly consolidated financial statements	12
	Notes on going concern assumption	12
	Segment information	12
	Significant subsequent events	13

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JMDC Inc. (4483)

1. Qualitative information regarding financial results for the three months ended June 30, 2023

1. Explanation of operating results
   JMDC Inc. (the "Company") is promoting the health of citizens, and delivering increased value of medical service providers and helping optimize their operations through gathering diverse data on the Japanese healthcare industry and thus benefiting society, with the aim of realizing a sustainable healthcare system by leveraging data and ICT.
   In the Healthcare-Big Data segment, to promote the health services of health insurance associations, we provide analysis services for data held by payers as well as personal health record (PHR) services developed by the Company. We also provide services such as medical data analysis and medical factoring to medical institutions as well as medicine databases. Furthermore, we have created a database of anonymously processed information in the course of pursuing this business and are promoting scientific and industrial applications of this data.
   In the Tele-medicine segment, we provide a matching service that connects medical institutions lacking a sufficient number of radiologists with contracted radiologists using a remote image interpretation system, as well as an ASP service that connects medical institutions with radiologists via the cloud to enable remote diagnostic imaging.
   In the Dispensing Pharmacy Support segment, we develop and sell systems such as receipt computers and electronic medication history systems to health insurance pharmacies.
   Operating results for the three months ended June 30, 2023 are as follows. (Operating results)

						(Millions of yen)
	10th fiscal year	11th fiscal year
Category	Three months ended	Three months ended	YoY change
	June 30, 2022	June 30, 2023
Revenue	5,776		6,698		921		16.0%
Operating profit	1,081		2,546		1,464		135.5%
EBITDA [margin]	1,521	[26.3%]	1,679	[25.1%]	158		10.4%

(Segment results)

(Millions of yen)

			10th fiscal year	11th fiscal year
	Category	Three months ended	Three months ended	YoY change
			June 30, 2022	June 30, 2023
Healthcare-Big		Segment revenue	3,749		4,497		747	19.9%
Data		Segment profit [ratio]	1,124	[30.0%]	1,294	[28.8%]	170	15.1%
Tele-medicine		Segment revenue	1,175		1,307		131	11.2%
	Segment profit [ratio]	439	[37.4%]	448	[34.3%]	9	2.1%
Dispensing		Segment revenue	910		969		59	6.5%
Pharmacy Support		Segment profit [ratio]	47	[5.3%]	87	[9.1%]	40	83.7%
Adjustment		Segment revenue	(58)		(76)		(17)	-
	Segment profit	(90)		(151)		(60)	-
Total		Revenue	5,776		6,698		921	16.0%
	EBITDA [margin]	1,521	[26.3%]	1,679	[25.1%]	158	10.4%

(Note) EBITDA is an objective indicator for judging the achievement of the JMDC Group's (the "Group's") management policies and strategies or management objectives. The Group uses EBITDA to measure the performance of each segment and believes that it is a useful and necessary measure to assess the Group's performance more effectively. The formulas for calculating EBITDA and EBITDA margin are as follows.

 EBITDA:

Operating profit + Depreciation and amortization ± Other income and/or expenses

• EBITDA margin: EBITDA / Revenue x 100

In the three months ended June 30, 2023, the Company transferred all shares of Unike Software Research Co., Ltd., a component of the Company's Dispensing Pharmacy Support segment, and its management purpose company to the Company's business partner EM Systems Co., Ltd. Due to this

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