[Reference Translation]

November 4, 2022
Company name:
JMS Co., Ltd.
Name of representative: Hiroaki Okukubo, President and Representative Director(Securities code: 7702; Prime Market of Tokyo)
Inquiries:
Ryuji Katsura, Executive Director, Head of Corporate
Affairs Division(Telephone: +81-82-243-5844)

Notice regarding Differences between Consolidated Financial Forecasts and Actual
Results for the First Half of the Fiscal Year Ending March 31, 2023 and Revision ofForecast for Consolidated Financial Results for the Full Fiscal Year
Announcement of the following discrepancies between the consolidated financial results forecast for the firsthalf of the fiscal year ending March 31, 2023 which was announced on May 12, 2022, and the actual results
for the same period disclosed today.
In addition, we would like to announce the following revisions made to its forecast for the consolidated
financial results for the full fiscal year ending March 31, 2023, in view of the trend in its recent businessperformance.
1. Difference between Consolidated Financial Forecast and Actual Results for the First Half of the Fiscal
Year Ending March 31, 2023 (April 1, 2022 - September 30, 2022)(Unit: million yen)
Net saleOperatingprofitOrdinary
profitForecast previously announced(A)

29,100400

400

250 10.23 yen

Actual results announced today(B)

29,975(44)

56(68) (2.80) yen

Difference (B − A)

875

(444)

(343)

(318)

Difference (%)

3.0－(85.9)－

28,275614683<Reference>Actual results for firsthalf of previous fiscal year ended
March 31, 2022

1/2

Profit attributable toowners of parent

Earnings
per share

497 20.37 yen2. Revision to consolidated Financial Forecast for the fiscal year ending March 31, 2023 (April 1, 2022 toMarch 31, 2023)(Unit: million yen)
Net saleOperatingprofitOrdinary
profitProfit attributable toowners of parent

Earnings
per share

Forecast previously announced(A)

60,000

1,200

1,200

900

36.84 yen

Forecast announced today(B)

62,000

400

400

200

8.18 yen

Difference (B − A)

2,000(800)(800)(700)

Difference (%)

3.3(66.7)(66.7)(77.8)

58,169980

1,126826<Reference> Actual results forprevious fiscal year ended
March 31, 2022

33.83 yen

3. Reasons for the difference and revision
Net sales for the first half of the fiscal year ending March 31, 2023 exceeded the previous forecast due torecovery in demand in overseas markets from the impact of the COVID-19 virus and increased yen
equivalent value due to yen depreciation. As for profits, despite the recovery in demand, raw materialprices, electricity costs, and ocean freight rates soared more than expected, and foreign currencydenominated purchase transactions also worked against us due to yen depreciation, resulting in lower
than previously forecasted operating profit, ordinary profit, and net income attributable to owners of parentcompany.
Despite continued efforts to improve profitability by expanding sales, reviewing prices, reducing
manufacturing costs, and lowering expenses through efficient business activities, we have revised its
Financial Forecast for the full fiscal year ending March 31, 2023, in view of the recent trend of yen
depreciation and crude oil prices, in addition to the actual results for the first half of the fiscal year.
*The above forecast is based on currently available information as of the announcement of this materialand actual results may differ from the projected figures due to various factors.
END

2/2