Financial Statements
for the 2nd quarter of fiscal year ending March 31, 2020
(From Apr. 1, 2019 to Sep. 30, 2019)

Summary of consolidated results

JMS Co., Ltd.
Company Code No. 7702

November 11, 20191

Highlights in Business Results(unit: JPY million)
Apr. - Sep. 2019Year-overYear

Diff. fromforecast

292

1.0%

(3.0%)

817

326

66.6%

9.0%

850

956

362

61.1%

12.6%

426

600

637

210

49.5%

6.2%

JPY 17.50

JPY 24.61

JPY 26.14---------US Dollar

110.26110108.63

Euro

131.64125

124.32Singapore Dollar

81.64

82.579.34

Apr. - Sep. 2018
Results

Previous Forecast

28,426

29,60028,718Operating profit

490

750

Ordinary profit

593

Profit attributable toowners of parent

Net sales

Basic earnings per share
Exchange Rate(averageduring period)(unit: JPY)

Overseas‐Increased sales of Apheresis kits and Blood bags

ProfitJapanSales-Increased sales of Closed Drug Mixing/Infusion System“NEO SHIELD” and Blood bags
-Decreased sales of Dysphagia related products

Diff.

Results

Increased in sales and profit(2nd straight year)-The influence of increased sales and the improved factoryutilization by expanding production resulted in an operating
profit growth-The addition of share of profit of entities accounted for using
equity method resulted in the above ordinary profit

Dividend forecast-Interim dividend: JPY 8 per share2Summary by segment (geographical area)Japan
20,822

20,425

19,302

18,923664

Singapore *■ Sales incl.
internal transaction■ Sales for third party－ Profit

9,427

Sales
Decrease of
1.9%

336

Apr. - Sep.
2018

(unit: JPY million)

ProfitIncrease of
97.5%

Apr. - Sep.
2019

4,493

9,825

5,079
612

374
Apr. - Sep.
2018

China

■ Sales incl.
internal transaction■ Sales for third party－ Profit

Sales
Increase of
4.2%
ProfitIncrease of
63.6%

Apr. - Sep.
2019

1,535
1,312708658

(3)

(1)

Apr. - Sep.
2018

Apr. - Sep.
2019

■ Sales incl.
internal transaction■ Sales for third party－ Profit

Sales
Decrease of
14.5%
ProfitIncreased by2million yen[Sales] Increased sales of Closed Drug

[Sales]Increased sales of Apheresis kits for the North
America market and Blood bags for the Africa
market raised net sales.

[Sales]Decreased sales of Infusion Sets for the Japan
market due to production transfer to the plantin Philippines reduced net sales.

[Ordinary Income] Despite the influence ofdecreased sales, the improved factory utilization by
expanding production and the increase in dividend
income from affiliated companies resulted in a profitgrowth.

[Ordinary Income]The influence of sales increased resulted in a
profit growth.

[Ordinary Income]Despite the influence of decreased sales, thedecrease of expenses resulted in a reduced loss.

Mixing/Infusion System “NEO SHIELD” and Bloodbags were offset by decreased sales of Dysphagia
related products, reducing net sales.

*This segment includes Indonesia local subsidiary.

3Summary by segment (geographical area)(unit: JPY million)

Philippines

Germany■ Sales incl.
internal transaction■ Sales for third party－ Profit

1,322

(214)
Apr. - Sep.
2018

1,561

1,512

1,560

1(18)

ProfitIncreased by195million yen

Apr. - Sep.
2019

■ Sales for third party－ Profit■ Sales incl.
internal transaction■ Sales for third party－ Profit

2,408

2,495
Sales
Increase of
3.6%

Sales
Increase of
3.2%

Sales
Increase of76.9%

74701,513

Others148

Apr. - Sep.
2018

108

ProfitDecrease of
27.0%

Apr. - Sep.
2019

[Sales]Increased sales of Infusion Sets for the Japan
market raised net sales.

[Sales]Increased sales of Blood bags raised net sales.

[Ordinary Income]The influence of increased sales resulted in a
reduced loss.

[Ordinary Income]
Increased cost of purchase by influence of
foreign currency exchange resulted in a
reduced profit.

65

56

Apr. - Sep.
2018

Apr. - Sep.
2019

ProfitDecrease of
13.0%*This segment includes business activity ofdomestic subsidiaries, United States, South Koreaand Thailand.
The segment classification has changed from the end of theprevious term as below:
・With its increased importance, “Germany” was added as areporting segment which was previously included in “Others”.
・The segment information for the previous period is indicated inaccordance with the new classifications.

4Sales by Business Segment
Apr. – Sep. 2019

Apr. – Sep. 2018

Others 2.5%

Transfusion
19.3%

11,719Cardiovascular
7.6%

11,078
9,223

9,179

(unit: JPY million)

Apr. – Sep.
2019

Infusion & Nutrition
38.6%

Dialysis
32.0%

4,649
2,088

5,555

2,173
744

Infusion & Nutrition

Dialysis

CardiovascularTransfusion

731

Others
5Sales increase or decrease (Customer's Location)
Others2.4%

Europe8.7%
North America
13.0%
Asia
10.8%

Apr. – Sep.
2019

(unit: JPY million)
Japan
65.1%

Sales composition

560

28,42689

167

28,718(69)
Increased
JPY 292 million(456)

Apr. - Sep. 2018

Japan

Asia

North America

EuropeOthersApr. - Sep. 20196

Selling, General and Admin. Expenses(unit: JPY million)

6,710

23.6%

(unit: JPY million)

6,757

23.5%

Apr. - Sep.
2019

Labor Cost

2,928

2,953

250.9%

Transport

807842344.3%

R&D

785742(42)(5.4%)

Depreciation

162

178

159.4%

2,025

2,040

150.7%

6,710

6,757

47

0.7%

Others
Total

Apr. - Sep.
2018

Apr. - Sep.
2019

Year-overYear

Apr. - Sep.
2018

Diff.

[Transport] Freight charge raised and the shipment volume increased by sales
growth.
[Others] Sales commission increased.

7Ordinary profit : Compared with the previous year
(unit: JPY million)

Minus factor
Apr. - Sep. 2018

593

Increased
JPY 362 million353

Increase of
Gross Profit（103）

Increase of SGA（22）

Decrease of
Non-operating profit

135
Apr. - Sep. 2019

Plus factor

Impact ofExchange rate

956
The underlined figures exclude impact of exchange rate.
8Forecast for FYE Mar. 2020
(unit: JPY million)FYE Mar. 2019
ResultFYE Mar. 2020
Forecast

Year-over-Year

Net sales

58,05960,000

3.3%

Operating profit

1,462

1,800

23.1%

Ordinary profit

1,520

2,000

31.6%

Profit attributable toowners of parent

1,160

1,400

20.7%

JPY 47.59

JPY 57.43---Basic earnings per share
Exchange Rate(average duringperiod)

US Dollar

110.91110Euro130.42125(unit: JPY)

Singapore Dollar

81.69

82.5

9

Topics‐ Introduction of the solar power system at Izumo Plant.
Oct. 2019- "Kids Visiting Day“, children observed the workplace of father and mother.
Aug. 2019‐ Disposal of treasury stock for restricted stock compensation.
Aug. 201910

The Bridge to Good Health Care

The assessment figures described on this report are based on available information
at this moment, including uncertain data. Actual results may be different from the figures.

11