Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2021
February 8, 2021
Stock Exchange Listings : Tokyo 1st Section

Company name: JMS Co., Ltd.

Securities code

: 7702(URL http://www.jms.cc/)

Representative: Hiroaki Okukubo, President and Representative DirectorInquiries: Masaki Endo, Executive Officer, Head of Business Administrative OfficeTEL: +81-82-243-5844

Quarterly statement filing date (as planned): February 12, 2021

Supplemental material of quarterly results: NoneConvening briefing of quarterly results: NoneDividend payable date (as planned): －(Note: Amounts below are rounded down to the nearest million yen)
1. Consolidated Financial Highlights for the Interim Period Ended December 2021 (From April 1, 2020 to December 31, 2020)(1) Consolidated operating results(%: change from the same previous period)
Profit attributable toOperating profit
Ordinary profit
Net sales
owners of parent
Millions of yen
Millions of yen
Millions of yen
Millions of yen%%%%
Nine months ended December 31, 2020

42,749

(1.8)

1,673

11.8

1,565

(9.0)

1,427

21.3

Nine months ended December 31, 2019

43,552

(1.6)

1,497

8.9

1,720

21.3

1,176

20.0

(Note)

Comprehensive income : Nine months ended December 31, 2020 : 1,725 million yen 〔91.7%〕, Nine months ended December 31, 2019 : 900 million yen 〔56.2%〕.

Basic earnings per share

Diluted earnings per share

Yen

Yen

Nine months ended December 31, 2020

58.47

－

Nine months ended December 31, 201948.26－(2) Consolidated financial positions
Total assets

Capital adequacy ratio

Net assets

Millions of yen

Millions of yen%

As at December 31, 2020

67,94933,80449.5

As at March 31, 2020

66,56732,47048.6(Note)

Owner's equity : December 31, 2020 : 33,662 million yen, March 31, 2020 : 32,336 million yen.

2. Dividends
Dividend per share
1st quarter
Yen
Year ended March 31, 2020－

2nd quarter
Yen
8.00

Year ending March 31, 2021

－

8.50

3rd quarter
Yen－－

Year end
Yen
9.00

AnnualYen
17.00

8.50

17.00

Year ending March 31, 2021 (forecast)(Note)

Correction of dividend forecast from the most recent dividend forecast : None

3. Consolidated Forecast for the Year Ending March 2021 (From April 1, 2020 to March 31, 2021)
Net sales
Millions of yen
Year ending March 31, 2020(Note)

59,500Operating profit%
1.6

Millions of yen%
2,000 (13.6)

Ordinary profit
Millions of yen%
2,200 (17.7)

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.

Page 1 of 7(%: change from the same previous period)
Profit attributable toBasic earnings
owners of parent
per share
Millions of yen
Yen%
1,600 (19.1)

65.62

JMS (7702) Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2021

4. Overview of operating results for the third quarter(1) Overview of consolidated operating results
JMS strives to enhance product development, production and sales as well as 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 tobring a smile to people by contributing to a healthy and better life' under our Founding Spirit of 'For People’s
Precious Life'. JMS has set up Business Unit (BU) type organization, and set three Business Units, 'Hospital Products
BU' mainly handles infusion and enteral nutrition, 'Surgical & Therapy BU' mainly handles Dialysis andCardiovascular, and 'Blood Management & Cell Therapy BU' mainly handles Blood Transfusion.
JMS recorded consolidated net sales for the third quarter of 42,749 million yen, down by 1.8% / 803 million yen(year-over-year), by the influence of the strong yen in foreign currency translation. Despite the influence ofdecreased sales and the increase in R&D expense, the operating profit totaled 1,673 million yen in this period, up by
11.8% (year-over-year), due to the influence of the decreased selling cost. The influence of foreign exchange losses
resulted in an ordinary profit of 1,565 million yen, down by 9.0% (year-over-year). As a result of adding andsubtracting subsidy income of extraordinary income and income taxes, the profit attributable to owners of parent
increased to 1,427 million yen, up by 21.3% (year-over-year).
Business performance by geographical segment.
Japan
Increased sales of Hemodialysis Machines for China market and Closed Drug Mixing/Infusion System “NEOSHIELD” were offset by decreased sales of Infusion Sets, reducing net sales to 30,142 million yen, down by 2.5%
(year-over-year). Despite the decreased selling cost, the influence of decreased sales and the increase in R&D
expenses resulted in a profit of 641 million yen, down by 10.2% (year-over-year), for this geographical segment.
Singapore
Despite the increased sales of Blood bags for East Asia market, net sales reduced to 15,180 million yen, down by
0.4% (year-over-year), due to influence of foreign currency translation. The increase of labor cost and the influenceof foreign exchange losses resulted in a profit of 633 million yen, down by 40.3% (year-over-year), for thisgeographical segment.
China
Increased sales of Blood Purification Circuit for the Japan market raised net sales to 2,226 million yen, up by 8.0%(year-over-year). The influence of increased sales due to addition of new products resulted in a profit of 249 million
yen, up by 375.6% (year-over-year), for this geographical segment.
Philippines
Increased sales of Apheresis kits for the North America market raised net sales to 2,143 million yen, up by 9.5%
(year-over-year). The influence of increased sales resulted in the black of 77 million yen, improved by 103 million
yen (year-over-year), for this geographical segment.
Germany
Despite the increased sales of AV Fistula Needle, net sales reduced to 2,293 million yen, down by 1.0% (year-overyear), due to influence of foreign currency translation. The influence of foreign exchange losses resulted in a profitof 159 million yen, down by 9.2% (year-over-year), for this geographical segment.
The remaining geographical segments recorded net sales of 2,921 million yen, down by 23.5% (year-over-year), andprofit of 87 million yen, up by 0.1% (year-over-year).
The above-mentioned figures do not include consumption tax, etc.

Page 2 of 7

JMS (7702) Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2021

(2) Overview of the financial positions
Total assets as of the end of this second third quarter totaled 67,949 million yen, up by 1,382 million yen from theend of the previous consolidated fiscal year. The details of assets, liabilities and net assets are as shown below.
(Assets)
Current assets increased to 38,691 million yen, up by 1,603 million yen from the end of the previous consolidated
fiscal year, mainly due to the increase of merchandise and finished goods. Non-current assets decreased to 29,257
mllion yen, down by 221 million yen from the end of the previous consolidated fiscal year, mainly due to thedecrease of plant and equipment.
(Liabilities)
Current liabilities decreased to 21,660 million yen, down by 234 million yen from the end of the previous
consolidated fiscal year, mainly due to the decrease of Notes and accounts payable-trade. Non-current liabilities
increased to 12,484 million yen, up by 282 million yen from the end of the previous consolidated fiscal year,
mainly due to the increase of long-term loans payable.
(Net assets)
Net assets increased to 33,804 million yen, up by 1,334 million yen from the end of the previous consolidated fiscal
year, mainly due to the increase of retained earnings by the profit attributable to owners of parent. Note that thecapital adequacy ratio increased by 0.9 percentage points to 49.5%.
(3) Overview of consolidated business forecast
Consolidated business forecast for the fiscal year ending March 31, 2021 released on May 22, 2020 has not beenrevised, as the overall business environment remained unclear.

Page 3 of 7

5. Consolidated Financial Statements

Consolidated Balance SheetJMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)
As at March 31,2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
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
Investments and other assets
Investments and other assets, grossAllowance for doubtful accountsTotal investments and other assets
Total non-current assets
Total assets

Page 4 of 7

As at December 31,
2020

5,765
15,683
254
7,735
2,787
3,928
962
(29)
37,0886,102
16,125
254
8,688
2,830
3,921
797
(29)
38,691

8,358
7,807
7,805
23,970

8,193
7,354
7,902
23,450

538

589

4,980
(10)
4,969
29,47966,567

5,228
(11)
5,217
29,257
67,949

Consolidated Balance SheetJMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)
As at March 31,2020
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-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
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
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

Page 5 of 7

As at December 31,2020

8,446
4,189
3,402
571
1,060
4,224
21,895

7,641
4,500
4,043
302
612
4,560
21,660

9,986
116
731
134
1,232
12,201
34,096

10,327
117
807
139
1,092
12,48434,144

7,411
10,362
15,932(270)
33,435

7,411
10,362
16,932(242)
34,463203(1,302)(1,098)133
32,47066,567335(1,136)(801)
142
33,80467,949

Consolidated statements of income
JMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on abandonment of non-current assets
Loss on valuation of investment securities
Retirement benefits for directors (and other officers)
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Page 6 of 7

Nine months ended
December 31, 2019

Nine months ended
December 31, 2020

43,552
31,978
11,574
10,077
1,497

42,74931,428
11,321
9,648
1,673

13
42
236
168
460

8
43182
86
321

147
66
22
236
1,720

133
256
39
429
1,565

69―
―
69

2
1305
309

2
16
65
41
124
1,665
407
75
483
1,182
5
1,176

18―
―
10
1,864
338
98
437
1,427
0
1,427

Consolidated statements of comprehensive income
JMS CO., LTD. and Consolidated Subsidiaries(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

Page 7 of 7

Nine months ended
December 31, 2019

Nine months ended
December 31, 2020

1,182

1,427

106(388)
(282)
900

131
165
297
1,725

898
1

1,7159