JMDC : Summary of Financial Statements for the Nine Months Ended December 31, 2021 (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 Nine Months

Ended December 31, 2021 [IFRS] (Consolidated)

	February 7, 2022
Company name:	JMDC Inc.
Listing:	Tokyo Stock Exchange
Stock code:	4483
URL:	https://www.jmdc.co.jp/eng/
Representative:	Yosuke Matsushima, President and CEO
Inquiries:	Yuta Yamamoto, Vice President and CFO
TEL:	[phone]

Scheduled date to file quarterly securities report:	February 14, 2022
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 nine months of the fiscal year ending March 31, 2022 (from April 1, 2021 to December 31, 2021)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)
	Revenue		Operating profit	Profit before tax		Profit
Nine months ended	Millions of yen		%	Millions of yen		%	Millions of yen		%		Millions of yen		%
December 31, 2021	15,679		35.1	3,417		41.0	3,408		41.6		2,279		44.4
December 31, 2020	11,606		34.1	2,424		63.7	2,406		67.2		1,578		62.3
	Profit attributable to	Total comprehensive	Basic earnings		Diluted earnings
	owners of parent	income		per share			per share
Nine months ended
Millions of yen		%	Millions of yen		%			Yen				Yen
December 31, 2021	2,280		44.5	2,279		44.5			40.61				38.27
December 31, 2020	1,578		62.3	1,577		62.2			30.12				28.98
Reference: EBITDA	Nine months ended December 31, 2021		¥4,580 million [39.5%]
	Nine months ended December 31, 2020		¥3,284 million [45.9%]

Notes: 1. The Company conducted a 2-for-1 share split of its ordinary shares on October 1, 2020. Basic earnings per share and diluted earnings per share have been calculated assuming that the share split was conducted at the beginning of the previous fiscal year.

1. 2. EBITDA: Operating profit + Depreciation and amortization ± Other income and/or expenses

2. Consolidated financial position

			Equity attributable to	Ratio of equity
	Total assets	Total equity	attributable to owners
	owners of parent
			of parent
As of	Millions of yen	Millions of yen	Millions of yen	%
December 31, 2021	60,393	30,154	30,154	49.9
March 31, 2021	58,264	28,250	28,250	48.5

Note: During the third quarter ended December 31, 2021, the Company finalized the provisional accounting treatment for business combinations. As a result, figures for the fiscal year ended March 31, 2021 reflect the finalization of the provisional accounting treatment.

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		-	0.00	0.00
March 31, 2021
Fiscal year ending	-	0.00		-
March 31, 2022
Fiscal year ending					0.00	0.00
March 31, 2022
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

(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

21,550

28.5

4,800

29.9

4,750

30.6

3,250

31.3

3,250

31.3

58.79

March 31, 2022

Note: Revisions to the earnings forecasts most recently announced: None

Reference: EBITDA

Fiscal year ending March 31, 2022 (Forecast)

¥6,400 million [31.5%]

* 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

(3) Number of issued shares (ordinary shares)

(i) Total number of issued shares at end of the period (including treasury shares)

As of December 31, 2021	56,433,008 shares
As of March 31, 2021	55,935,808 shares

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

As of December 31, 2021	459 shares
As of March 31, 2021	366 shares

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

For the nine months ended December 31, 2021	56,167,660 shares
For the nine months ended December 31, 2020	52,420,178 shares

Note: The Company conducted a 2-for-1 share split of its ordinary shares on October 1, 2020. The "average number of shares outstanding during the period" has been calculated assuming that the share split was conducted at the beginning of the previous fiscal year.

• 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 nine months ended December 31, 2021	....... 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...........................................................................................................	14

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JMDC Inc. (4483)

1. Qualitative information regarding financial results for the nine months ended December 31, 2021

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 health insurance associations 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, and also conduct tests of our own systems as we operate our own dispensing pharmacies.
   Operating results for the nine months ended December 31, 2021 are as follows. (Operating results)

						(Millions of yen)
	8th fiscal year	9th fiscal year
Category	Nine months ended	Nine months ended	YoY change
	December 31, 2020	December 31, 2021
Revenue	11,606		15,679		4,073		35.1%
Operating profit	2,424		3,417		993		41.0%
EBITDA [Margin]	3,284	[28.3%]	4,580	[29.2%]	1,296		39.5%

(Segment results)

(Millions of yen)

			8th fiscal year	9th fiscal year
	Category	Nine months ended	Nine months ended	YoY change
			December 31, 2020	December 31, 2021
Healthcare-Big		Segment revenue	6,753		9,883		3,130	46.3%
Data		Segment profit [ratio]	2,316	[34.3%]	3,412	[34.5%]	1,096	47.3%
Tele-medicine		Segment revenue	3,000		3,370		370	12.3%
	Segment profit [ratio]	918	[30.6%]	1,200	[35.6%]	282	30.7%
Dispensing		Segment revenue	1,950		2,567		617	31.6%
Pharmacy Support		Segment profit [ratio]	241	[12.4%]	209	[8.1%]	(32)	(13.3)%
Adjustment		Segment revenue	(97)		(143)		(46)	-
	Segment profit	(192)		(242)		(50)	-
Total		Revenue	11,606		15,679		4,073	35.1%
	EBITDA [margin]	3,284	[28.3%]	4,580	[29.2%]	1,296	39.5%

Note: EBITDA is an objective indicator for judging the achievement of the JMDC Group's management policies and strategies or management objectives. The JMDC 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

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