Financial Results for the First Quarter of Fiscal Year Ending March 31, 2024
August 7, 2023
Stock Exchange Listings : Prime Market of Tokyo

Company nameSecurities code
RepresentativeInquiries
TEL
Quarterly statement filing date (as planned)
Supplemental material of quarterly results
Convening briefing of quarterly results: JMS Co., Ltd.
(URL https://www.jms.cc/): 7702: Ryuji Katsura, President and Representative Director: Jo Sueda, Executive Officer, Head of Corporate Affairs Division: +81-82-243-5844: August 10, 2023
Dividend payable date (as planned): －: Yes: None(Note: Amounts below are rounded down to the nearest million yen)

1. Consolidated Financial Highlights for the Interim Period Ended June 2023 (From April 1, 2023 to June 30, 2023)(1) Consolidated operating results(%: change from the same previous period)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended June 30, 2023
14,600 2.2(111) －(73) －(260) －Three months ended June 30, 2022
14,281 3.5(104) －(78) －(36) －(Note) Comprehensive income : Three months ended June 30, 2023 : 1,153 million yen 〔(24.5)%〕,Three months ended June 30, 2022 : 1,527 million yen 〔215.3%〕.

Three months ended June 30, 2023
Three months ended June 30, 2022

Basic earnings per share
Yen(10.66)(1.51)

Diluted earnings per share
Yen－－(2) Consolidated financial positions
Total assets
Net assets
Capital adequacy ratio
Millions of yen Millions of yen%
As at June 30, 2023
75,96439,65452.0
As at March 31, 2023
74,40738,70051.8(Note) Owner's equity: June 30, 2023: 39,478 million yen, March 31, 2023: 38,530 million yen.
2. Dividends
1st quarter
Yen

Dividend per share
2nd quarter 3rd quarter Fiscal Year end
Yen
Yen
Yen
8.50
－
8.50

Annual
Yen
17.00

8.50

17.00

Year ended March 31, 2023－
Year ending March 31, 2024－
Year ending March 31, 2024 (forecast)
8.50－(Note) Correction of dividend forecast from the most recent dividend forecast: None

3. Consolidated Forecast for the Year Ending March 2024 (From April 1, 2023 to March 31, 2024)(%: change from the same previous period)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Millions of yen % Millions of yen % Millions of yen % Millions of yen %YenHalf year ending September 30, 2023
32,400 8.1
350－
400 610.5300－
12.27
Year ending March 31, 2024
67,000 5.1
1,000 37.9
1,100 87.5
800 184.7
32.72(Note) Correction of financial forecast from the most recent financial forecast. : None
The aforementioned projections are based on the information currently available, and may contain some uncertainties.
The final results might be significantly different from the aforementioned projections due to changes in business conditions.

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JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

4. Overview of business results for the first quarter(1) Overview of consolidated business results
JMS strives to improve the quality of corporate management and the corporate value, in order ' To be a bridge
for the people who give and seek medical care, and to bring a smile to people by contributing to a healthy andbetter life' under our Founding Spirit of 'For People’s Precious Life'. JMS focused on four fields of businessactivities such as infusion & enteral nutrition, dialysis, cardiovascular and blood transfusion and promotes
product development, production and sales.
During the consolidated cumulative first quarter, in the domestic market, sales of Closed Drug Mixing/Infusion
Systems and Blood Bags with Leukocyte Reduction Filter showed steady performance. On the other hand, sales
decreased on Medical Gloves and Nutrition Sets as well as Hemodialysis Machines whose demand expansion,reflecting a resumption of capital investment by medical institutions in the previous fiscal year, has alreadysettled down. In overseas markets, although the situation varies depending on the country and region, sales of
Apheresis Kits and Blood Bags which are the mainstay products for overseas market as well as Hemodialysis
Machines for China increased because there was a demand recovery from the impact of COVID-19.
As a result of the above, JMS recorded consolidated net sales for the first quarter of 14,600 million yen, up by
2.2% / 318 million yen (year-over-year). Despite the effect of sales increase, the impact of soaring prices of raw
material and electricity costs as well as the increase of research and development expenses and selling expenses
resulted in an operating loss of 111 million yen (operating loss of 104 million yen in the same period of theprevious year). Recording of foreign exchange gains and other factors resulted in an ordinary loss of 73 million
yen (ordinary loss of 78 million yen in the same period of the previous year). As a result of adding andsubtracting income taxes, the loss attributable to owners of parent totaled 260 million yen (the loss attributableto owners of parent totaled 36 million yen in the same period of the previous year).
Business performance by geographical segment.
(i) Japan
Despite Sales of Closed Drug Mixing/Infusion Systems, Blood Bags with Leukocyte Reduction Filter andHemodialysis Machines for China showed steady performance, decreased sales of Hemodialysis Machines,
Medical Gloves and Nutrition Sets for domestic market and AV Fistula Needles for Europe due to customers'
inventory adjustments, resulted in net sales of 9,887 million yen, down by 1.9% year-over-year). The impact ofsales decrease and soaring prices of raw materials and electricity costs resulted in a segment loss of 64 million
yen (loss of 175 million yen in the same period of the previous year).
(ii) Singapore
Sales increase of Apheresis kits and Blood Bags for Asia and Africa on a recovery trend of stagnation of overseas
demand, resulted in net sales of 5,030 million yen, up by 9.9% (year-over-year). Despite the effect of increased
sales, the impact of raw materials costs and increased labor costs in preparation for the recovery in demand,
resulted in segment loss of 59 million yen (loss of 57 million yen in the same period of the previous year).
(iii) China
Increased Sales of Hemodialysis Machines, Hemodialysis Blood Tubing Sets and AV Fistula Needles due to an
expansion of demand by market growth, resulted in net sales of 969 million yen, up by 3.1% (year-over-year).
The impact of soaring prices of raw materials, increased labor costs and general and administrative expenses,
resulted in a loss of 4 million yen (profit of 38 million yen in the same period of the previous year).
(iv) Philippines
Despite the decreased sales of Infusion Sets for Japan, increased sales of Blood Bags, Apheresis Kits for Asia
and AV Fistula Needles for Europe resulted in net sales of 899 million yen, up by 16.3% (year-over-year).
Despite the effect of sales increase, the soaring of raw material and electricity cost as well as labor costs anddepreciation associated with investing in facilities, resulted in segment profit of 14 million yen, down by 75.9%(year-over-year).
(v) Germany
Due to increased sales of AV Fistula Needles and Blood Bags for Europe, net sales were 1,058 million yen, up

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JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

by 20.3% (year-over-year). The effect of increased sales resulted in a profit of 132 million yen, up by 248.9%(year-over-year), for this geographical segment.
(vi) Others
Due to decreased sales of AV Fistula Needles for North America and other factors, net sales amounted to 1,016
million yen, down by 18.6% (year-over-year), with a profit of 10 million yen ( loss of 18 million yen in thesame period of the previous year).
(2) Overview of the financial condition
Total assets as of the end of this first quarter totaled 75,964 million yen, up by 1,556 million yen from the endof the previous consolidated fiscal year. The details of assets, liabilities and net assets are as shown below.
(Assets)
Current assets increased to 43,171 million yen, up by 907 million yen from the end of the previous consolidated
fiscal year, mainly due to an increase in merchandise and finished goods. Non-current assets increased to 32,793
million yen, up by 649 million yen from the end of the previous consolidated fiscal year, mainly due to theincrease of Property, plant and equipment.
(Liabilities)
Current liabilities increased to 24,685 million yen, up by 2,248 million yen from the end of the previous
consolidated fiscal year, mainly due to increases in short-term loans payable and current portion of long-termloans payable. Non-current liabilities decreased to 11,624 million yen, down by 1,646 million yen from the endof the previous consolidated fiscal year, mainly due to the decrease of long-term loans payable.
(Net assets)
Net assets increased to 39,654 million yen, up by 954 million yen from the end of the previous consolidated
fiscal year, mainly due to changes in foreign currency translation adjustments. Note that the capital adequacy
ratio increased by 0.2 percentage points to 52.0%.
(3)Overview of consolidated business forecast
Consolidated business forecast for the first half and ending of March 31, 2024 released on May 12, 2023 has
not been revised, as the overall business environment remained unclear.

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JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

5. Consolidated Financial Statements

Consolidated Balance SheetJMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)
As at March 31,
2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investments and other assets
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

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As at June 30,
2023

6,329
17,197
9,158
3,096
5,503
1,008
(30)
42,263

6,993
15,781
10,044
3,577
6,117
685
(29)
43,171

9,219
8,756
8,032
26,008

9,456
8,895
8,397
26,749

119
728
847

116
692
808

5,372
(84)
5,287
32,14474,407

5,327
(90)
5,236
32,79375,964JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

Consolidated Balance SheetJMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)
As at March 31,
2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
OtherTotal current liabilities

As at June 30,2023

8,699
4,002
3,916
141
1,111
4,566
22,437

8,727
4,779
4,799
109
625
5,644
24,685

11,599151500189
828
13,27035,707

9,847
155
538
301
781
11,62436,310Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity

7,411
10,351
17,514(219)
35,057

7,411
10,351
17,046(219)
34,589

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

362
3,110
3,473
169
38,70074,407

492
4,396
4,889
176
39,65475,964Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

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JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

Consolidated statements of income
JMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)Three months ended
June 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating lossThree months ended
June 30, 2023

14,281
10,9253,356
3,460(104)

14,600
11,222
3,378
3,489(111)Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income

12759
21111

225
41
35
104

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary loss

37
42585(78)4318366(73)5500

Extraordinary losses
Loss on sale of non-current assets
Loss on abandonment of non-current assets
Total extraordinary losses
Loss before income taxes―55(78)045(77)

Income taxes - current
Income taxes - deferred
Total income taxes
Loss
Loss attributable to non-controlling interests
Loss attributable to owners of parent

72(106)
(33)
(44)
(7)
(36)

86
99
185
(263)
(2)
(260)

Extraordinary income
Gain on sale of non-current assets
Total extraordinary income

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JMS (7702) Financial Results for the first Quarter of Fiscal Year Ending March 31, 2024

Consolidated statements of comprehensive income
JMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Loss
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income

(44)

(263)

27
1,544
1,572
1,527

130
1,286
1,416
1,153

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

1,530(2)1,146
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