JMDC : Summary of Financial Statements for the Three Months Ended June 30, 2021 (Consolidated)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Financial Statements for the Three Months

Ended June 30, 2021 [IFRS] (Consolidated)

	August 5, 2021
Company name:	JMDC Inc.
Listing:	Tokyo Stock Exchange
Stock code:	4483
URL:	https://www.jmdc.co.jp/eng/
Representative:	Yosuke Matsushima, President and CEO
Inquiries:	Yuta Yamamoto, Vice President and CFO
TEL:	[phone]

Scheduled date to file quarterly securities report:	August 13, 2021
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2022 (from April 1, 2021 to June 30, 2021)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)
	Revenue		Operating profit	Profit before tax		Profit
Three months ended	Millions of yen		%	Millions of yen		%	Millions of yen		%		Millions of yen		%
June 30, 2021	4,530		41.0	826		131.4	809		129.8		540		129.8
June 30, 2020	3,212		25.6	357		34.2	352		41.4		235		25.0
	Profit attributable to	Total comprehensive	Basic earnings		Diluted earnings
	owners of parent	income		per share			per share
Three months ended	Millions of yen		%	Millions of yen		%			Yen				Yen
June 30, 2021	540		129.8	540		129.8			9.66				9.07
June 30, 2020	235		25.0	235		24.3			4.54				4.44
Reference: EBITDA	Three months ended June 30, 2021		¥1,164 million [89.6%]
	Three months ended June 30, 2020		¥614 million [27.9%]

Notes: 1. The Company conducted a 2-for-1 share split of its ordinary shares on October 1, 2020. Basic earnings per share and diluted earnings per share have been calculated assuming that the share split was conducted at the beginning of the previous fiscal year.

1. 2. EBITDA: Operating profit + Depreciation and amortization ± Other income and/or expenses

2. Consolidated financial position

	Total assets	Total equity	Equity attributable to	Ratio of equity
	attributable to owners
	owners of parent
			of parent
As of	Millions of yen	Millions of yen	Millions of yen	%
June 30, 2021	57,275	28,283	28,282	49.4
March 31, 2021	57,854	28,250	28,250	48.8

2. Cash dividends

				Annual dividends
	First quarter-end	Second quarter-end		Third quarter-end	Fiscal year-end	Total
	Yen	Yen		Yen	Yen	Yen
Fiscal year ended	-	0.00		-	0.00	0.00
March 31, 2021
Fiscal year ending	-
March 31, 2022
Fiscal year ending		0.00		-	0.00	0.00
March 31, 2022
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

(Percentages indicate year-on-year changes.)

											Profit		Basic
		Revenue	Operating profit	Profit before tax	Profit		attributable to	earnings per
											owners of parent	share
		Millions	%	Millions	%	Millions	%	Millions		%	Millions		%	Yen
		of yen	of yen	of yen	of yen		of yen
Six months ending		9,000	29.0	1,250	12.9	1,200	9.0	800		9.7	800		9.7	14.47
September 30
(cumulative)
Fiscal year ending		21,000	25.2	4,300	16.4	4,250	16.9	2,900		17.1	2,900		17.1	52.46
March 31, 2022
Note: Revisions to the earnings forecasts most recently announced: None
Reference: EBITDA	Six months ending September 30, 2021 (cumulative) ¥2,100 million [26.2%]
		Fiscal year ending March 31, 2022		¥5,900 million [21.2%]

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
   Added companies: - (company name), Excluded companies: - (company name)
2. Changes in accounting policies and changes in accounting estimates

(i) Changes in accounting policies required by IFRS:	None
(ii) Changes in accounting policies due to other reasons:	None
(iii) Changes in accounting estimates:	None

(3) Number of issued shares (ordinary shares)

(i) Total number of issued shares at end of the period (including treasury shares)

As of June 30, 2021	56,104,208 shares
As of March 31, 2021	55,935,808 shares

(ii) Number of treasury shares at end of the period

As of June 30, 2021	391 shares
As of March 31, 2021	366 shares

1. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

For the three months ended June 30, 2021	56,008,585 shares
For the three months ended June 30, 2020	51,949,910 shares

Note: The Company conducted a 2-for-1 share split of its ordinary shares on October 1, 2020. The "average number of shares outstanding during the period" has been calculated assuming that the share split was conducted at the beginning of the previous fiscal year.

• Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special items Notes on forward-lookingstatements
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable by the Company. Actual business and other results may differ substantially due to various factors. For details regarding matters related to earnings forecasts, please refer to page 5 of the attached materials.
  How to obtain supplementary documents on financial results
  Supplementary documents on financial results are released via TDnet on the same day.

JMDC Inc. (4483)

Attached Material Index
1. Qualitative information regarding financial results for the three months ended June 30, 2021	............... 2
(1)	Explanation of operating results.........................................................................................................	2
(2)	Explanation of financial position........................................................................................................	4
(3)	Explanation of consolidated earnings forecasts and other forward-looking statements.....................	5
2. Condensed quarterly consolidated financial statements and significant notes thereto .............................	6
(1)	Condensed quarterly consolidated statement of financial position ....................................................	6
(2)	Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated
	statement of comprehensive income ..................................................................................................	7
(3)	Condensed quarterly consolidated statement of changes in equity ....................................................	9
(4)	Condensed quarterly consolidated statement of cash flows .............................................................	11
(5)	Notes to condensed quarterly consolidated financial statements......................................................	12
	Notes on going concern assumption.................................................................................................	12
	Segment information ........................................................................................................................	12
	Significant subsequent events...........................................................................................................	14

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JMDC Inc. (4483)

1. Qualitative information regarding financial results for the three months ended June 30, 2021

1. Explanation of operating results
   JMDC Inc. (the "Company") is promoting the health of citizens, and delivering increased value of medical service providers and helping optimize their operations through gathering diverse data on the Japanese healthcare industry and thus benefiting society, with the aim of realizing a sustainable healthcare system by leveraging data and ICT.
   In the Healthcare-Big Data segment, to promote the health services of health insurance associations, we provide analysis services for data held by health insurance associations as well as personal health record (PHR) services developed by the Company. We also provide services such as medical data analysis and medical factoring to medical institutions as well as medicine databases. Furthermore, we have created a database of anonymously processed information in the course of pursuing this business and are promoting scientific and industrial applications of this data.
   In the Tele-medicine segment, we provide a matching service that connects medical institutions lacking a sufficient number of radiologists with contracted radiologists using a remote image interpretation system, as well as an ASP service that connects medical institutions with radiologists via the cloud to enable remote diagnostic imaging.
   In the Dispensing Pharmacy Support segment, we develop and sell systems such as receipt computers and electronic medication history systems to health insurance pharmacies, and also conduct tests of our own systems as we operate our own dispensing pharmacies.
   Operating results for the three months ended June 30, 2021 are as follows. (Operating results)

						(Millions of yen)
	8th fiscal year	9th fiscal year
Category	Three months ended	Three months ended	YoY change
	June 30, 2020	June 30, 2021
Revenue	3,212		4,530		1,318		41.0%
Operating profit	357		826		469		131.4%
EBITDA [Margin]	614	[19.1%]	1,164	[25.7%]	550		89.6%

(Segment results)

(Millions of yen)

			8th fiscal year	9th fiscal year
	Category	Three months ended	Three months ended	YoY change
			June 30, 2020	June 30, 2021
Healthcare-Big		Segment revenue	1,798		2,756		958	53.3%
Data		Segment profit [ratio]	406	[22.6%]	858	[31.1%]	452	111.3%
Tele-medicine		Segment revenue	861		1,027		166	19.3%
	Segment profit [ratio]	231	[26.8%]	330	[32.1%]	99	42.9%
Dispensing		Segment revenue	588		782		194	33.0%
Pharmacy Support		Segment profit [ratio]	39	[6.6%]	49	[6.3%]	10	25.6%
Adjustment		Segment revenue	(35)		(35)		0	-
	Segment profit	(63)		(74)		(11)	-
Total		Revenue	3,212		4,530		1,318	41.0%
	EBITDA [margin]	614	[19.1%]	1,164	[25.7%]	550	89.6%

Note: EBITDA is an objective indicator for judging the achievement of the JMDC Group's management policies and strategies or management objectives. The JMDC Group uses EBITDA to measure the performance of each segment and believes that it is a useful and necessary measure to more effectively assess the Group's performance. The formulas for calculating EBITDA and EBITDA margin are as follows.

 EBITDA:	Operating profit + Depreciation and amortization ± Other income and/or expenses
 EBITDA margin:	EBITDA / Revenue x 100

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