Financial Results for the First Quarter of Fiscal Year Ending March 31, 2021
August 7, 2020
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): August 7, 2020

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 June 2020 (From April 1, 2020 to June 30, 2020)(1) Consolidated operating results
Net sales

Operating profit(%: change from the same previous period)
Profit attributable toowners of parent
Millions of yen
Millions of yen%%
Ordinary profit

Millions of yen%

Millions of yen%Three months ended June 30, 2020

13,579

0.6)

630

586.6

685

265.9

659

―Three months ended June 30, 201913,494

(3.2)

91

224.9

187

132.048111.3(Note)

Comprehensive income : Three months ended June 30, 2020 : 826 million yen 〔－%〕, Three months ended June 30, 2019 : (265) million yen 〔－%〕.

Basic earnings per share

Diluted earnings per share

Yen
27.05

Yen

Three months ended June 30, 2020Three months ended June 30, 2019

1.98

－－

(2) Consolidated financial positions
Total assets

Net assets

Capital adequacy ratio

Millions of yen

Millions of yen%

As at June 30, 2020

66,43533,07749.6

As at March 31, 2020

66,56732,47048.6(Note)

Owner's equity : June 30, 2020 : 32,945 million yen, March 31, 2020 : 32,336 million yen.

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

Year ending March 31, 2021－

2nd quarter
Yen
8.00

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

8.50

Fiscal year end
3rd quarter
Yen
Yen
9.00
－－

8.50

17.00

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, 2021(Note)

AnnualYen
17.00

59,500Operating profit%
1.6

Millions of yen%
2,000 (13.6)

Ordinary profit
Millions of yen%
2,200 (17.7)(%: change from the same previous period)
Profit attributable to
Basic earnings pershareowners of parent
Millions of yen
Yen%
1,600 (19.1)

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

65.62

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

4. Overview of business results for the first quarter(1) Overview of consolidated business 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 first quarter of 13,579 million yen, up by 0.6% / 85 million yen (yearover-year).
The operating profit totaled 630 million yen in this period, up by 586.6% (year-over-year), due to the influence ofsales increase, the improved sales cost ratio and decreased selling, general and administrative expenses. The
addition of share of profit of entities accounted for using equity method resulted in an ordinary profit of 685million
yen, up by 265.9% (year-over-year). As a result of adding and subtracting subsidy income of extraordinary income
and income taxes, the profit attributable to owners of parent of 659 million yen, up by 611million yen (year-overyear).
Business performance by geographical segment.
(i) Japan
Increased sales of Examination Gloves and Closed Drug Mixing/Infusion System “NEO SHIELD” were offset bydecreased sales of Infusion Sets, reducing net sales to 9,367 million yen, down by 1.6% (year-over-year). Despite theinfluence of decrease sales, improved sales cost ratio and decreased selling, general and administrative expenses
resulted in a profit of 551 million yen, up by 114.3% (year-over-year), for this geographical segment.
(ii) Singapore
Increased sales of Blood bags for West Asia market raised net sales to 5,151million yen, up by 13.1% (year-overyear). The influence of sales increase resulted in a profit of 278 million yen, up by 12.4% (year-over-year), for thisgeographical segment.
(iii) China
Decreased sales of Infusion Sets for the Japan market due to production transfer to the plant in Philippines reduced
net sales to 587 million yen, down by 12.0% (year-over-year). Despite the influence of decrease sales, the decrease oflabor cost resulted in a profit of 22 million yen, up by 32 million yen (year-over-year), for this geographical segment.
(iv) Philippines
Due to a temporary suspension of production activities under the influence of COVID-19, decreased sales of Infusion
Sets for the Japan market reduced net sales to 492 million yen, down by 23.0% (year-over-year). Due to decreased
selling, general and administrative expenses, reduced loss to 49 million yen, improved by 19 million yen (year-overyear), for this geographical segment.
(v)Germany
Increased sales of AV Fistula Needle raised net sales to 796 million yen, up by 0.9% (year-over-year). The influenceof sales increase resulted in profit of 72 million yen, up by 34.7% (year-over-year), for this geographical segment.
The remaining geographical segments recorded net sales of 947 million yen, down by 26.5% (year-over-year), and profitof 14 million yen, down by 69.2% (year-over-year).
The above-mentioned figures do not include consumption tax, etc.

Page 2 of 7

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

(2) Overview of the financial condition
Total assets as of the end of this first quarter totaled 66,435million yen, down by 131 million yen from the end of theprevious consolidated fiscal year. The details of assets, liabilities and net assets are as shown below.
(Assets)
Current assets decreased to 37,047 million yen, down by 40 million yen from the end of the previous
consolidated fiscal year, mainly due to the decrease of notes and accounts receivable trade. Non-current assets
decreased to 29,388 million yen, down by 90 million yen from the end of the previous consolidated fiscal year,
mainly due to the decrease of property, plant and equipment.
(Liabilities)
Current liabilities increased to 22,425 million yen, up by 530 million yen from the end of the previous consolidated
fiscal year, mainly due to the increase of Short-term loans payable. Non-current liabilities decreased to 10,932
million yen, down by 1,269 million yen from the end of the previous consolidated fiscal year, mainly due to thedecrease of long-term loans payable.
(Net assets)
Net assets increased to 33,077 million yen, up by 607 million yen from the end of the previous consolidated fiscalyear, mainly due to the increase of the profit attributable to owners of parent. Note that the capital adequacy ratio
increased by 1.0 percentage points to 49.6%.
(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 6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
SecuritiesMerchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance 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 accounts
Total investments and other assets
Total non-current assets
Total assets

Page 4 of 7

As at June 30,
2020

5,765
15,683
254
7,735
2,787
3,928
962(29)37,0885,467
14,880
257
8,373
2,925
4,286
886(30)37,047

8,358
7,807
7,805
23,970
538

8,325
7,677
7,775
23,778
527

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

5,093
(10)
5,083
29,38866,435

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
OtherTotal current liabilities

As at June 30,2020

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

8,386
4,697
3,250
416
569
5,104

21,89522,425

9,986

8,716

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

113
785
136
1,180
10,93233,357

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

7,411
10,362
16,372(270)
33,875203(1,302)(1,098)133
32,47066,567251(1,181)(930)
132
33,07766,435

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

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
Subsidy income
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
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Page 6 of 7

Three months ended
June 30, 2019

Three months ended
June 30, 2020

13,494
10,040
3,454
3,362
91

13,579
9,802
3,776
3,146
630

4
23
94
49
34
207

224
114
2
27
171

49
54
8111
187

45
57
14117
685

0―
01
170
172

―
00
187
93
44
138
49
0
48

101
856
128
69198
658(0)
659

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

Three months ended
June 30, 2019

Three months ended
June 30, 2020

49

658

(3)
(310)
(314)
(265)

47
120
168
826

(260)
(5)

8260