Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2024
February 8, 2024
Stock Exchange Listings : Tokyo Stock Exchange

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: February 13, 2024
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 December 2023 (From April 1, 2023 to December 31, 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%
Nine months ended December 31, 2023
48,035 2.4
77 (83.6)
263 (37.2)
54 (58.9)
Nine months ended December 31, 2022
46,918 7.2
471 (61.3)
420 (65.9)
131 (85.1)(Note) Comprehensive income : Nine months ended December 31, 2023 : 1,699 million yen 〔(4.8)%〕,Nine months ended December 31, 2022 : 1,784 million yen 〔11.8%〕.
Basic earnings per share Diluted earnings per share
YenYen－Nine months ended December 31, 2023
2.21－
Nine months ended December 31, 2022
5.39
(2) Consolidated financial positions
Total assets
Net assets Capital adequacy ratio
Millions of yen Millions of yen%
As at December 31, 2023
80,25540,014
49.6
As at March 31, 2023
74,40738,70051.8(Note) Owner's equity : December 31, 2023 : 39,842 million yen, March 31, 2023 : 38,530 million yen.
2. Dividends
Dividend per share
1st quarter 2nd quarter 3rd quarter Year end Annual
Yen
Yen
Yen
Yen
Yen
Year ended March 31, 2023－
8.50－
8.50 17.00
Year ending March 31, 2024－
8.50－
Year ending March 31, 2024 (forecast)
8.50 17.00(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 %YenYear ending March 31, 2024
64,500 1.2
100 (86.2)
400 (31.8)
100 (64.4)
4.08(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 Third Quarter of Fiscal Year Ending March 31, 2024

4. Overview of business results for the third 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 third quarter, in the domestic market, sales of Closed Drug Mixing/Infusion
Systems which are being promoted as a focus business, Infusion Sets with Needleless Access Port showedsteady performance. On the other hand, sales decreased on Medical Gloves and Nutrition Sets. 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 increased, and an increase in yen equivalent value resulting from yen
depreciation boosted sales. As a result of the above, JMS recorded consolidated net sales for the third quarterof 48,035 million yen, up by 2.4% / 1,116 million yen (year-over-year). Despite the effect of sales increase, theimpact of soaring prices of raw material and electricity costs as well as the increase in labor costs in preparation
for the recovery in demand resulted in an operating profit of 77 million yen, down by 83.6% (year-overyear).Recording of equity in earnings of affiliates and subsidy income resulted in an ordinary profit of 263
million yen, down by 37.2% (year-over-year). As a result of adding and subtracting income taxes, the profit
attributable to owners of parent was 54 million yen, down by 58.9% (year-over-year).
Business performance by geographical segment.
(i) Japan
Despite Sales of Closed Drug Mixing/Infusion Systems, Infusion Sets with Needleless Access Port andHemodialysis Machines for China showed steady performance, decreased sales of Medical Gloves, Nutrition
Sets and Dysphagia related products for domestic market and AV Fistula Needles for Europe due to customers'
inventory adjustments, resulted in net sales of 32,009 million yen, down by 2.8% (year-over-year). The increaseof subsidy income and dividend income from affiliates resulted in a profit of 228 million yen, up by 66.1%(year-over-year).
(ii) Singapore
Sales increase of Apheresis Kits for North America and Blood Bags for Asia / Africa due to a recovery ofstagnation of overseas demand as well as increase in the yen equivalent from yen depreciation resulted in net
sales of 17,643 million yen, up by 5.0% (year-over-year). Despite the effect of increased sales, the impact ofraw materials costs and increased labor costs in preparation for the recovery in demand, resulted in segment
loss of 105 million yen (profit of 222 million yen in the same period of the previous year).
(iii) China
Although demand remained on an expansionary trend due to market growth, the decrease sales of AV Fistula
Needles due to the stagnation of demand by the spread of COVID-19 and the customers' inventory adjustments
resulted in net sales of 2,771 million yen, down by 6.2% (year-over-year). The impact of soaring prices ofincreased labor costs resulted in segment loss of 51 million yen (profit of 94 million yen in the same period of
the previous year).
(iv) Philippines
Increased sales of Apheresis Kits and Blood Bags for Asia resulted in net sales of 2,903 million yen, up by 6.8%
(year-over-year). Despite the effect of sales increase, the soaring of raw material and electricity cost as well aslabor costs and supplies expense with the expansion of production activities resulted in segment loss of 154
million yen (profit of 32 million yen in the same period of the previous year).
(v) Germany
Due to increased sales of Blood Bags for Europe, net sales were 2,976 million yen, up by 5.6% (year-over-year).
The effect of increased sales and decrease in marine freight charges which had remained high resulted insegment profit of 357 million yen, up by 162.0% (year-over-year), for this geographical segment.

Page 2 of 7

JMS (7702) Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2024(vi) Others
Due to decreased sales of AV Fistula Needles and Scalp Vein Needles for North America and other factors, net
sales amounted to 2,927 million yen, down by 27.0% (year-over-year), with a segment loss of 2 million yen(profit of 42 million yen in the same period of the previous year).
(2) Overview of the financial condition
Total assets as of the end of this third quarter totaled 80,255 million yen, up by 5,847 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 45,912 million yen, up by 3,649 million yen from the end of the previous
consolidated fiscal year, mainly due to an increase in cash and deposits. Non-current assets increased to 34,342
million yen, up by 2,198 million yen from the end of the previous consolidated fiscal year, mainly due to theincrease of tangible fixed assets.
(Liabilities)
Current liabilities increased to 24,477 million yen, up by 2,040 million yen from the end of the previous
consolidated fiscal year, mainly due to increases in current portion of long-term loans payable. Non-current
liabilities increased to 15,763 million yen, up by 2,493 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 40,014 million yen, up by 1,314 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 decreased by 2.2 percentage points to 49.6%.
(3) Overview of consolidated business forecast
Consolidated business forecast for the fiscal year ending March 31, 2024 released on November 7, 2023 has notbeen revised, as the overall business environment remained unclear.

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JMS (7702) Financial Results for the Third 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
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
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

Page 4 of 7

As at December 31,2023

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

7,869
17,476
10,507
3,592
5,690
805
(28)
45,912

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

9,947
9,177
8,496
27,622

119
728
847

319
627
947

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

5,864
(91)
5,772
34,34280,255JMS (7702) Financial Results for the Third 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
Other
Total current liabilities

As at December 31,2023

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

8,464
4,002
6,265
224
648
4,871
24,477

11,599
151
500
189
828
13,27035,707

13,338
166
524
306
1,426
15,76340,240Net 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
17,145(194)
34,714

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

626
4,501
5,127
172
40,01480,255

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and other officer
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

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

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
Commission income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale 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
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

Page 6 of 7

Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

46,91836,121
10,796
10,32548,03537,297
10,738
10,661

471

77

947―
402662
186

947
148
54
148
78
486

119
94
1211238
420

153―
124
22300
263

757
65

2―
20
18
19466
229
123
353
112(18)
131

0
66258
271(57)
213
45(9)
54

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

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, 2022

Nine months ended
December 31, 2023

112

45

23
1,648
1,671
1,784

263
1,390
1,654
1,699

1,798
(13)

1,697
2