Interim report
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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 . JMDC Summary of Financial Statements for the Three Months Ended June 30 , 2026 [ IFRS ] ( Consolidated ) Company name : Listing : Stock code : URL : Representative : Inquiries : TEL : JMDC Inc. Tokyo Stock Exchange 4483 https://www.jmdc.co.jp/en/ Ryo Noguchi , President and CEO Makoto Ohashi , Executive Officer and CFO + 81-3-5733-5010 Scheduled date to commence dividend payments : Preparation of supplementary material on financial results : Holding of financial results presentation meeting : FASF August 5 , 2026 Yes Yes ( for institutional investors and analysts ) ( 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 , 2027 ( from April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) ( Percentages indicate year - on - year changes . ) Revenue Operating profit Profit before tax Profit Three months ended June 30 , 2026 June 30 , 2025 Millions of yen 12,605 10,725 % Millions of yen % Millions of yen % Millions of yen % 17.5 32.5 1,823 1,552 17.5 48.8 1,688 1,441 17.1 40.6 1,132 957 18.3 31.1 Profit attributable to owners of parent Total comprehensive income Basic earnings per share Three months ended Millions of yen % Millions of yen % Yen June 30 , 2026 June 30 , 2025 1,131 966 17.0 1,026 32.8 1,049 Reference : EBITDA Three months ended June 30 , 2026 Three months ended June 30 , 2025 ( 2.2 ) 43.5 ¥ 2,663 million [ 17.4 % ] 17.28 14.79 ¥ 2,267 million [ 37.5 % ] Note : EBITDA : Operating profit + Depreciation and amortization ± Other income and / or expenses ( 2 ) Consolidated financial position As of June 30 , 2026 March 31 , 2026 Total assets Millions of yen 154,056 158,538 Diluted earnings per share 17.14 14.65 Yen Total equity Equity attributable to owners of parent Ratio of equity attributable to owners of parent Millions of yen 83,205 84,183 Millions of yen 83,063 83,677 % 53.9 52.8
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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 March 31, 2026 – 0.00 – 18.00 18.00 Fiscal year ending March 31, 2027 – Fiscal year ending March 31, 2027 (Forecast) – – – – Note: Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated earnings forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) (Percentages indicate year-on-year changes.) Revenue Operating profit Profit before tax Profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Six months ending September 30, 2026 (cumulative) 27,100 17.4 4,500 11.8 4,100 12. 1 2,700 15.2 2,650 11.5 40.49 Fiscal year ending March 31, 2027 60,500 19.9 11,500 9.3 11,000 10. 4 7,200 5.7 7,100 4.9 108.19 Note: Revisions to the earnings forecasts most recently announced: Yes For details, please refer to “1. Outline of business performance (3) Explanation of consolidated earnings forecasts and other forward-looking statements” on pages 4 to 5 of the attached materials. Reference: EBITDA Six months ending September 30, 2026 (cumulative) ¥6,100 million [10.4%] Fiscal year ending March 31, 2027 ¥15,000 million [13.8%]
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* Notes (1) Significant changes in the scope of consolidation during the period: None (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, 2026 65,446,208 shares As of March 31, 2026 65,439,808 shares (ii) Number of treasury sh ares at end of the period As of June 30, 2026 816 shares As of March 31, 2026 816 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) For the three months ended June 30, 2026 65,440,517 shares For the three months ended June 30, 2025 65,374,756 shares * Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or an audit corporation: None * Proper use of earnings forecasts, and other special items Notes on forward-looking statements The forward-looking statements, incl uding 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 pages 4 to 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.
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JMDC Inc. (4483) - 1 - Attached Material Index 1. Outline of business performance .............................................................................................................. 2 (1) Outline of business performance for the three months ended June 30, 2026 ..................................... 2 (2) Outline of financial position for the three months ended June 30, 2026 ............................................ 4 (3) Explanation of consolidated earnings forecasts and other forward-looking statements ..................... 4 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 prof it 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 ................................................................................................. ......... 13
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JMDC Inc. (4483) - 2 - 1. Outline of business performance (1) Outline of business performance for the three months ended June 30, 2026 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 for payers, centered on health insurance unions, we provide analysis services for data held by payers 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. Operating results for the three months ended June 30, 2026 are as follows. (Operating results) (Millions of yen) Category 13th fiscal year Three months ended June 30, 2025 14th fiscal year Three months ended June 30, 2026 YoY change Revenue 10,725 12,605 1,880 17.5% Operating profit 1,552 1,823 271 17.5% EBITDA [margin] 2,267 [21.1%] 2,663 [21.1%] 395 17.4% (Segment results) (Millions of yen) Category 13th fiscal year Three months ended June 30, 2025 14th fiscal year Three months ended June 30, 2026 YoY change Healthcare-Big Data Segment revenue 9,201 10,955 1,754 19.1% Segment profit [ratio] 1,919 [20.9%] 2,250 [20.5%] 330 17.2% Tele-medicine Segment revenue 1,524 1,649 125 8.2% Segment profit [ratio] 536 [35.2%] 653 [39.6%] 117 21.9% Adjustment Segment revenue – – – – Segment profit (187) (240) (52) – Total Revenue 10,725 12,605 1,880 17.5% EBITDA [margin] 2,267 [21.1%] 2,663 [21.1%] 395 17.4% (Note) EBITDA is an objective indicator for judging the achievement of the JMDC Group’s (the “Group’s”) management policies and strategies or management objectives. The Group uses EBITDA to measure the performance of each segment and believes that it is a useful and necessary measure to assess the Group’s performance more effectively. 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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JMDC Inc. (4483) - 3 - Results by each segment are as follows. Healthcare-Big Data The Group possesses the largest scale of healthcare big data in Japan that is available for public through data anonymization of receipts (admitted patients, day patients, prescriptions), medical examinations and member records received from health insurance unions, etc. During the three months ended June 30, 2026, the number of contracted health insurance unions, etc. increased year-on-year. The annual transaction value at pharmaceutical and insurance companies, etc. which use and utilize the healthcare big data, showed robust results. The business is continuing to expand. Moreover, the Pep Up health information platform developed by the Company is used to generate individualized advice and display risk of diseases for every individual user based on the above healthcare- big data. The number of IDs issued for Pep Up continued to expand during the three months ended June 30, 2026. As a result, segment revenue for the three months ended June 30, 2026 was ¥10,955 million and segment profit (segment EBITDA) was ¥2,250 million. Tele-medicine The Group has the biggest platform for radiologists in Japan. In the three months ended June 30, 2026, revenue increased on a year-on-year basis as a result of the continued increase in the number of medical institutions utilizing remote image interpretation services. We continue to take measures to expand our business, including adding functions to “AI-RAD,” an artificial intelligence engine platform that assists in diagnostic imaging, and preparations for full-scale business development in Asia. As a result, segment revenue for the three months ended June 30, 2026 was ¥1,649 million and segment profit (segment EBITDA) was ¥653 million. (Reconciliation of EBITDA to operating profit) (Millions of yen) 13th fiscal year Three months ended June 30, 2025 14th fiscal year Three months ended June 30, 2026 EBITDA 2,267 2,663 Depreciation and amortization (740) (879) Other income 32 58 Other expenses (7) (17) Operating profit 1,552 1,823
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JMDC Inc. (4483) - 4 - (2) Outline of financial position for the three months ended June 30, 2026 (i) Assets, liabilities and equity Assets Assets at the end of the first quarter under review were ¥154,056 million, a decrease of ¥4,481 million compared with the end of the fiscal year ended March 31, 2026. The main changes were a decrease of ¥8,109 million in trade and other receivables, despite increases of ¥1,830 million in cash and cash equivalents, ¥840 million in contract assets, and ¥300 million in other current assets. For details regarding the changes in cash and cash equivalents, please refer to “(ii) Cash flows.” Liabilities Liabilities at the end of the first quarter under review were ¥70,851 million, a decrease of ¥3,503 million compared with the end of the fiscal year ended March 31, 2026. This was mainly due to decreases of ¥1,541 million in trade and other payables, ¥1,063 million in income taxes payable due to payment, and ¥995 million in borrowings in current liabilities. Equity Equity at the end of the first quarter under review was ¥83,205 million, a decrease of ¥978 million compared with the end of the fiscal year ended March 31, 2026. This was mainly due to the recording of ¥1,177 million in dividend payment, ¥1,132 million in profit, and ¥833 million in transactions with non-controlling interests. (ii) Cash flows Cash and cash equivalents (“net cash”) at the end of the first quarter under review was ¥30,780 million, an increase of ¥1,830 million compared with the end of the fiscal year ended March 31, 2026. The respective cash flow positions for the three months ended June 30, 2026, and the factors thereof are as follows. Cash flows from operating activities Net cash provided by operating activities was ¥6,221 million (¥5,372 million provided in the three months ended June 30, 2025). This was mainly due to the recording of ¥1,688 million in profit before tax and a decrease of ¥8,111 million in trade and other receivables, despite recording a decrease of ¥1,554 million in trade and other payables and ¥1,443 million in income taxes paid. Cash flows from investing activities Net cash used in investing activities was ¥968 million (¥5,138 million used in the three months ended June 30, 2025). This was mainly due to purchase of intangible assets of ¥436 million, purchase of property, plant and equipment of ¥195 million, and payments for loans receivable of ¥136 million. Cash flows from financing activities Net cash used in financing activities was ¥3,422 million (¥3,225 million provided in the three months ended June 30, 2025). This was mainly due to the recording of ¥2,037 million in repayments of long-term borrowings and ¥1,175 million in dividends paid. (3) Explanation of consolidated earnings fo recasts and other forward-looking statements The consolidated earnings forecasts for the fiscal year ending March 31, 2027 are unchanged from the forecasts announced on May 8, 2026. However, as shown below, the Company has decided to announce the consolidated earnings forecasts for the six months ending September 30, 2026. Because of how the Group’s business is constructed, its consolidated earnings are concentrated in the second half of the fiscal year, which makes it difficult to provide a forecast for the first half of the fiscal year. Accordingly, the Company has a policy not to announce the earnings forecasts for the first six-month period. Nevertheless, because of the smooth progress of the business environment, which has enhanced
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JMDC Inc. (4483) - 5 - our visibility of the first half of the fiscal year, the Company has decided to disclose an earnings forecast for the first six-month period. Revenue Operating profit Profit before tax Profit Profit attributable to owners of parent Basic earnings per share Millions of yen Millions of yen Millions of yen Millions of yen Millions of yen Yen Previously announced forecast (A) – – – – – – Revised forecast (B) 27,100 4,500 4,100 2,700 2,650 40.49 Increase (Decrease) (B-A) – – – – – – Increase (Decrease) percentage (%) – – – – – – (Reference) Actual results for the six months ended September 30, 2025 23,080 4,025 3,657 2,343 2,376 36.35
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JMDC Inc. (4483) - 6 - 2. Condensed quarterly consolidated financial statements and significant notes thereto (1) Condensed quarterly consolidated statement of financial position (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and cash equivalents 28,950 30,780 Trade and other receivables 24,015 15,905 Contract assets 50 890 Other financial assets 1,880 2,017 Inventories 505 658 Other current assets 1,165 1,466 Total current assets 56,568 51,718 Non-current assets Property, plant and equipment 20,932 20,965 Goodwill 62,569 62,583 Intangible assets 6,012 6,122 Other financial assets 10,508 10,351 Deferred tax assets 1,712 1,764 Other non-current assets 235 549 Total non-current assets 101,970 102,337 Total assets 158,538 154,056 Liabilities and equity Liabilities Current liabilities Borrowings 5,557 4,561 Trade and other payables 11,542 10,001 Lease liabilities 1,475 1,534 Income taxes payable 1,635 572 Contract liabilities 1,477 1,771 Other current liabilities 3,198 2,930 Total current liabilities 24,887 21,371 Non-current liabilities Borrowings 35,941 35,879 Lease liabilities 9,073 9,053 Retirement benefit liability 422 510 Provisions 826 864 Deferred tax liabilities 2,357 2,341 Contract liabilities 586 576 Other non-current liabilities 259 253 Total non-current liabilities 49,468 49,479 Total liabilities 74,355 70,851 Equity Share capital 25,167 25,171 Capital surplus 28,175 27,711 Treasury shares (3) (3) Other components of equit y 30 28 Retained earnings 30,307 30,155 Total equity attributable to owners of parent 83,677 83,063 Non-controlling interests 505 141 Total equity 84,183 83,205 Total liabilities and equity 158,538 154,056
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JMDC Inc. (4483) - 7 - (2) Condensed quarterly consolidated statemen t of profit or loss and condensed quarterly consolidated statement of comprehensive income Condensed quarterly consolidated statement of profit or loss (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Revenue 10,725 12,605 Cost of sales 5,224 5,859 Gross profit 5,500 6,745 Selling, general and administrative expenses 3,973 4,962 Other income 32 58 Other ex penses 7 17 Operating profit 1,552 1,823 Finance income 0 15 Finance costs 111 151 Share of profit of investments accounted for using equity metho d 0 0 Profit before tax 1,441 1,688 Income tax expense 484 555 Profit 957 1,132 Profit attributable to Owners of parent 966 1,131 Non-controlling interests (9) 1 Profit 957 1,132 Earnings per share Basic earnings per share (Yen) 14.79 17.28 Diluted earnings per share (Yen) 14.65 17.14
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JMDC Inc. (4483) - 8 - Condensed quarterly consolidated statement of comprehensive income (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Profit 957 1,132 Other comprehensive income Items that will not be reclassified to profit or loss Financial assets measured at fair value through other comprehensive income 91 (104) Total of items that will not be reclassified to profit or loss 91 (104) Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations 0 (1) Total of items that may be reclassified to profit or loss 0 (1) Other comprehensive income, net of tax 92 (106) Comprehensive income 1,049 1,026 Comprehensive income attributable to Owners of parent 1,058 1,024 Non-controlling interests (9) 1 Comprehensive income 1,049 1,026
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JMDC Inc. (4483) - 9 - (3) Condensed quarterly consolidated statement of changes in equity Three months ended June 30, 2025 (from April 1 to June 30, 2025) (Millions of yen) Equity attributable to owners of parent Share capital Capital surplus Treasury shares Other components of equity Exchange differences on translation of foreign operations Financial assets measured at fair value through other comprehensive income Share acquisition rights Balance as of April 1, 2025 25,134 28,227 (3) (5) – 33 Profit – – – – – – Other comprehensive income – – – 0 91 – Total comprehensive income – – – 0 91 – Exercise of share acquisition rights 6 6 – – – (0) Dividends – – – – – – Transfer to retained earnings – – – – (91) – Total transactions with owners 6 6 – – (91) (0) Balance as of June 30, 2025 25,140 28,233 (3) (5) – 33 Equity attributable to owners of parent Non-controlling interests Total Other components of equity Retained earnings Total Total Balance as of April 1, 2025 27 24,634 78,022 453 78,475 Profit – 966 966 (9) 957 Other comprehensive income 92 – 92 – 92 Total comprehensive income 92 966 1,058 (9) 1,049 Exercise of share acquisition rights (0) – 11 – 11 Dividends – (1,045) (1,045) – (1,045) Transfer to retained earnings (91) 91 – – – Total transactions with owners (91) (954) (1,034) – (1,034) Balance as of June 30, 2025 28 24,646 78,046 444 78,491
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JMDC Inc. (4483) - 10 - Three months ended June 30, 2026 (from April 1 to June 30, 2026) (Millions of yen) Equity attributable to owners of parent Share capital Capital surplus Treasury shares Other components of equity Exchange differences on translation of foreign operations Financial assets measured at fair value through other comprehensive income Share acquisition rights Balance as of April 1, 2026 25,167 28,175 (3) (10) – 40 Profit – – – – – – Other comprehensive income – – – (1) (104) – Total comprehensive income – – – (1) (104) – Exercise of share acquisition rights 3 3 – – – (0) Forfeiture of share acquisition rights – 0 – – – (0) Dividends – – – – – – Transactions with non- controlling interests – (468) – – – – Transfer to retained earnings – – – – 104 – Total transactions with owners 3 (463) – – 104 (0) Balance as of June 30, 2026 25,171 27,711 (3) (11) – 40 Equity attributable to owners of parent Non-controlling interests Total Other components of equity Retained earnings Total Total Balance as of April 1, 2026 30 30,307 83,677 505 84,183 Profit – 1,131 1,131 1 1,132 Other comprehensive income (106) – (106) – (106) Total comprehensive income (106) 1,131 1,024 1 1,026 Exercise of share acquisition rights (0) – 7 – 7 Forfeiture of share acquisition rights (0) – – – – Dividends – (1,177) (1,177) – (1,177) Transactions with non- controlling interests – – (468) (365) (833) Transfer to retained earnings 104 (104) – – – Total transactions with owners 104 (1,282) (1,638) (365) (2,004) Balance as of June 30, 2026 28 30,155 83,063 141 83,205
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JMDC Inc. (4483) - 11 - (4) Condensed quarterly consolid ated statement of cash flows (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Cash flows from operating activities Profit before tax 1,441 1,688 Depreciation and amortization 740 879 Decrease (increase) in trade and other receivables 5,963 8,111 Decrease (increase) in contract assets (790) (840) Decrease (increase) in inventories (83) (152) Increase (decrease) in trade and other payables 948 (1,554) Increase (decrease) in contract liabilities (26) 282 Othe r (501) (630) Subtotal 7,693 7,783 Interest and dividends received 0 12 Interest paid (90) (131) Income taxes paid (2,231) (1,443) Net cash provided by (used in) operating activities 5,372 6,221 Cash flows from investing activities Purchase of property, plant and equipment (50) (195) Purchase of intangible assets (342) (436) Pa yments for loans receivable (100) (136) Purchase of shares of subsidiaries resulting in change in scope of consolidation (4,530) (22) Other (115) (177) Net cash provided by (used in) investing activities (5,138) (968) Cash flows from financing activities Proceeds from long-term borrowings 5,500 980 Repayments of long-term borrowings (943) (2,037) Repayments of lease liabilities (299) (362) Proceeds from exercise of share ac quisition rights 11 7 Dividends paid (1,043) (1,175) Purchase of shares of subsidiaries not resulting in change in scope of consolidation – (833) Net cash provided by (used in) financing activities 3,225 (3,422) Net increase (decrease) in cash and cash equivalents 3,458 1,829 Cash and cash equivalents at beginning of period 32,176 28,950 Effect of exchange rate changes on cash and cash equivalents (0) 0 Cash and cash equivalents at end of period 35,634 30,780
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JMDC Inc. (4483) - 12 - (5) Notes to condensed quarterly co nsolidated financial statements Notes on going concern assumption Not applicable. Segment information (1) Overview of reportable segments The Group’s reportable segments are components of the Group for which discrete financial information is available, and whose operating results are regularly reviewed by the Board of Directors to make decisions about managerial resources to be allocated to the segments and assess their performances. The Group considers similarities in the nature of the services it provides and has reportable segments: “Healthcare-Big Data” and “Tele-medicine.” The main businesses and main services included in each reportable segment are as follows. Reportable segments Main businesses Main services Healthcare-Big Data Business for industry Business for payers and individuals Business for medical service providers Development and provision of medical databases (receipts, pharmaceuticals, etc.) and analysis of medical big data Tele-medicine Tele-medicine business Remote image interpretation matching service and ASP se rvice for remote image interpretation system (2) Information about reportable segments Revenue and operating results by reportable segments of the Group are as follows. Intersegment revenues are based on negotiated transaction prices, taking into account market prices and production costs. Segment profits are EBITDA (Operating profit + Depreciation and amortization ± Other income and/or expenses). Three months ended June 30, 2025 (from April 1 to June 30, 2025) (Millions of yen) Reportable segments Adjustments (Note) Consolidated Healthcare-Big Data Tele-medicine Total Revenue Revenue from external customers 9,201 1,524 10,725 – 10,725 Intersegment revenue – – – – – Total 9,201 1,524 10,725 – 10,725 Segment profit EBITDA 1,919 536 2,455 (187) 2,267 Note: Adjustments include elimination of intersegment transactions and corporate expenses.
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JMDC Inc. (4483) - 13 - Three months ended June 30, 2026 (from April 1 to June 30, 2026) (Millions of yen) Reportable segments Adjustments (Note) Consolidated Healthcare-Big Data Tele-medicine Total Revenue Revenue from external customers 10,955 1,649 12,605 – 12,605 Intersegment revenue – – – – – Total 10,955 1,649 12,605 – 12,605 Segment profit EBITDA 2,250 653 2,903 (240) 2,663 Note: Adjustments include elimination of intersegment transactions and corporate expenses. A reconciliation of EBITDA to profit before tax is as follows. (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 EBITDA 2,267 2,663 Depreciation and amortization (740) (879) Other income 32 58 Other expenses (7) (17) Operating profit 1,552 1,823 Finance income 0 15 Finance costs (111) (151) Share of profit of investments accounted for using equity method 0 0 Profit before tax 1,441 1,688 Significant subsequent events Not applicable.