Financial Statements
for the Fiscal Year Ended March 31, 2020
(From Apr. 1, 2019 to Mar. 31, 2020)

Summary of consolidated results

JMS Co., Ltd.
Company Code No. 7702

May 22, 20201

Highlights in Business Results(unit: JPY million)
Apr. - Mar. 2019
Results

Apr. - Mar. 2020
Results

Diff.

Year– over – YearNet sales

58,05958,569510

0.9%Operating profit

1,462

2,314

851

58.2%

Ordinary profit

1,520

2,672

1,151

75.8%

Profit attributable toowners of parent

1,160

1,977

817

70.5%

JPY 47.59

JPY 81.12------US Dollar

110.91108.74

Euro130.42122.07Singapore Dollar

81.69

79.28

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

- Increase in operating profit, due to the influence of sales
increase and the decreased sales cost ratio- Foreign exchange loss and loss on abandonment of inventories
were not posted in this period while these losses had beenposted in the last period, resulted in an ordinary profit increase

Dividendforecast

Overseas-Increased sales of Apheresis kits and Blood bags

ProfitJapanSales- Increased sales of Blood bags and Closed Drug
Mixing/Infusion System “NEO SHIELD”- Decreased sales of Hemodialysis Machines

Increased in sales (3rd straightyear) and increased in profit(2nd straight year).

‐ Annual dividend: Increased by JPY 1 to JPY 17 per share(incl. Interim dividend JYP 8 and year-end dividend JYP 9)2

Summary by segment (geographical area)
Japan
41,65938,63041,302■ Sales incl.
internal transaction■ Sales for third party－ Profit

38,017808

Apr. - Mar.
2019

Singapore

20,043

1,240(unit: JPY million)

Sales
Decreased
0.9%
ProfitIncreased
53.5%

Apr. - Mar.
2020

20,573■ Sales incl.
internal transaction■ Sales for third party－ Profit

1,514
1,076
9,907

Apr. - Mar.
2019

China

10,838■ Sales incl.
internal transaction■ Sales for third party－ Profit

3,215
2,744

Sales
Increased
2.6%
ProfitIncreased
40.6%

Apr. - Mar.
2020

Sales
Decreased
14.6%

1,561

1,492

2929

Apr. - Mar.
2019

Apr. - Mar.
2020

ProfitDecreased
0.2%[Sales] Decreased sales of Hemodialysis

Machines which were offset by the increased salesof Blood bags and Closed Drug Mixing/Infusion
System “NEO SHIELD”, reduced net sales.

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

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

[Ordinary Income] Decreased selling generaland administrative expenses, and increased
dividend income from affiliated companies,
resulted in a profit growth.

[Ordinary Income] The influence of sales
increase as well as the influence of foreign
currency exchange resulted in a profit growth.
*This segment includes Indonesia local subsidiary.

[Ordinary Income]Despite the decrease of labor cost and otherexpense, the influence of sales decrease
resulted in a slightly decreased profit.

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

Philippines
2,785

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

1,810
345

Sales
Increased
53.8%
ProfitImproved by448
million yen

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

3,115

3,171

3,107295

4,852

5,044

3,170

SalesIncreased
1.8%

Sales
Increased
4.0%

236

ProfitDecreased
20.0%

ProfitDecreased
0.5%

165

164

Apr. - Mar.
2019

Apr. - Mar.
2020

(414)
Apr. - Mar.
2019

Apr. - Mar.
2020

Apr. - Mar.
2019

Apr. - Mar.
2020

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

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

[Ordinary Income]The influence of fixed cost recovery by thesales increase raised profit and moved into theblack .

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

*This segment includes business activity ofsubsidiaries in Japan, United States, South Koreaand Thailand.

4

Sales by Business Segment
Apr. – Mar. 2019

Apr. – Mar. 2020
Others 2.2%

Transfusion
20.0%
Cardiovascular
7.3%(unit: JPY million)

Apr. – Mar.
2020

Infusion & Nutrition
38.6%

Dialysis
31.9%(51) (0.3)%

Infusion & Nutrition

Dialysis

CardiovascularTransfusion

Others5

Sales change by Region (Customer's Location)
Others2.1%

Europe8.5%
North America
13.1%

Asia
12.9%

Apr. – Mar.
2020

Japan63.4%(unit: JPY million)

Sales composition

NetsalesIncreased
JPY 510 million

NetsalesApr. - Mar. 2019JapanAsia

North AmericaEuropeOthers

Apr. - Mar. 2020
6Selling, General and Admin. Expenses(unit: JPY million)(unit: JPY million)
13,35523.0%

13,323

22.7%

SGA ratio (0.3)%

Year-overYear

Apr. - Mar.
2019

Apr. - Mar.
2020

Labor Cost

5,806

5,798(8)(0.1)%

Transport

1,652

1,715

63

3.8%

R&D

1,515

1,417(98)(6.5)%

335352

175.1%

4,045

4,039(5)(0.1)%

13,355

13,323(31)(0.2)%

Depreciation
OthersTotalDiff.

[R & D] Clinical trial expense for the development of a new product decreased.

Apr. - Mar.
2019

Apr. - Mar.
2020

7

Ordinary profit : Compared with the previous year
(unit: JPY million)
Increase of
Gross Profit

Increase of
SGA

Increase of
Non-operating
profit123

950

Impact of
Exchange rate165

2,672(87)1,520
Increased
JPY 1,151 million
Ordinary
profitApr. - Mar. 2019

Ordinary
profitThe underlined figures exclude impact of exchange rate.

Apr. - Mar. 2020
8Forecast for FYE Mar. 2021
(unit: JPY million)FYE Mar. 2020
ResultFYE Mar. 2021
Forecast

Year-over-Year

Net sales

58,56959,5001.6%

Operating profit

2,3142,000(13.6)%

Ordinary profit

2,6722,200(17.7)%

Profit attributable toowners of parent

1,977

1,600(19.1)%

JPY 81.12

JPY 65.62---

Basic earnings per share
Exchange Rate(average duringperiod)

US Dollar

108.74108Euro122.07120(unit: JPY)

Singapore Dollar

79.28

78

At this time, the spread of the Corona Virus Disease 2019 (COVID-19) infection cannot be expected to be contained, but the above forecast has beencalculated based on the assumption that it will be contained by the end of this fiscal year.

9Topics※Announcement date

- Participate in an investment fund specialized in medical device ventures.
Nov. 2019- Recognized as a “2020 Certified Health & Productivity
Management Outstanding Organization” for two consecutive years.
Mar. 2020- Treatment for refractory skin ulcer using Platelet Collection Sets “CELLAID P Type” is now coveredby insurance.
Apr. 2020

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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