JMDC (4483) investor relations material

Executive summary

• FY2025 consolidated revenue reached JPY 50,462 million, up 21% year-over-year, with EBITDA rising 21% to JPY 13,178 million, driven by Healthcare - Big Data and Tele-medicine growth.

• Operating profit increased 20.7% to JPY 10,521 million, but profit attributable to owners of parent declined 7% to JPY 6,765 million due to the absence of discontinued operations gains.

• The company holds the largest healthcare data assets in Japan, with over 20.76 million contracted payer individuals and 8.03 million Pep Up IDs.

• Growth was led by the Healthcare - Big Data segment, with revenue up 24% to JPY 44,070 million and EBITDA up 23% to JPY 11,722 million.

• Tele-medicine segment revenue increased 4–4.5% to JPY 6,392 million, with EBITDA up 7.7–8% to JPY 2,407 million.

Financial highlights

• Operating profit for FY2025 was JPY 10,521 million (21% margin), and profit attributable to owners of parent was JPY 6,765 million (13% margin), both up year-over-year.

• Gross profit increased to JPY 27,687 million from JPY 23,849 million year-over-year.

• Total assets grew to JPY 158,538 million, mainly due to increases in property, plant and equipment, goodwill, and receivables.

• Cash and cash equivalents at year-end were JPY 28,950 million, down JPY 3,225 million year-over-year.

• Dividend per share for FY2025 is JPY 18, totaling JPY 1,177 million, with a payout ratio of 17.4%.

Outlook and guidance

• FY2026 revenue is forecast at JPY 60.5 billion (+20%), with EBITDA of JPY 15.0 billion (+14%) and profit attributable to owners of parent at JPY 7.1 billion (+5%).

• Strategic investments in AI, human resources, and data infrastructure are planned, with a temporary dip in profit margin expected.

• No concerns about goodwill impairment are factored into the outlook.

• Continued business expansion is expected in both Healthcare - Big Data and Tele-medicine.