Summary of Financial Statements for the Three Months Ended June 30, 2026 (Consolidated)

August 6, 2025

Company name: JMDC Inc.

Listing: Tokyo Stock Exchange

Stock code: 4483

URL: https://www.jmdc.co.jp/en/ Representative: Ryo Noguchi, President and CEO

Inquiries: Yuzuru Kubota, Executive Officer and CFO TEL: +81-3-5733-5010

Scheduled date to commence dividend payments: -Preparation of supplementary material on financial results: Yes

Holding of financial results presentation meeting: 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, 2026 (from April 1, 2025 to June 30, 2025)

   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, 2025	10,725	32.5	1,552	48.8	1,441	40.6	957	31.1
      June 30, 2024	8,096	-	1,042	-	1,025	-	730	(64.2)

      	Profit attributable to owners of parent		Total comprehensive income		Basic earnings per share	Diluted earnings per share
      Three months ended	Millions of yen	%	Millions of yen	%	Yen	Yen
      June 30, 2025	966	32.8	1,049	43.5	14.79	14.65
      June 30, 2024	727	(64.3)	731	(64.2)	11.14	11.03

      Reference: EBITDA Three months ended June 30, 2025 ¥2,267 million [37.5%] Three months ended June 30, 2024 ¥1,649 million [-%]

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

2. Effective from the fourth quarter of the previous fiscal year, the dispensing pharmacy support business is classified as discontinued operations and is presented separately from continuing operations due to the transfer of all shares of NOAH MEDICAL SYSTEM CORPORATION. Accordingly, the amount of revenue, operating profit, profit before tax, and EBITDA are presented on the consolidated statement of profit or loss to reflect only continuing operations. Figures for the corresponding three months ended June 30, 2024, have also been reclassified accordingly, and therefore, year-on-year increase (decrease) percentages for these figures are not provided.

1. Consolidated financial position

1. 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, 2025	-	0.00	-	16.00	16.00
   Fiscal year ending March 31, 2026	-
   Fiscal year ending March 31, 2026 (Forecast)		-	-	-	-

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

2. Consolidated earnings forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

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, 2025 (cumulative) ¥5,500 million [22.7%] Fiscal year ending March 31, 2026 ¥14,500 million [32.6%]

1. Significant changes in the scope of consolidation during the period: None

2. Changes in accounting policies and changes in accounting estimates

   1. Changes in accounting policies required by IFRS: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

3. Number of issued shares (ordinary shares)

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

      As of June 30, 2025	65,380,208 shares
      As of March 31, 2025	65,373,808 shares

   2. Number of treasury shares at end of the period

      As of June 30, 2025	731 shares
      As of March 31, 2025	731 shares

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

• 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, 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 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.

Attached Material Index

1. Outline of business performance 2

   1. Outline of business performance for the three months ended June 30, 2025 2

   2. Outline of financial position for the three months ended June 30, 2025 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 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

Notes on discontinued operations 13

Significant subsequent events 14

1. ‌Outline of business performance
   1. ‌Outline of business performance for the three months ended June 30, 2025

      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.

      As stated in the "Notice of Changes in Subsidiaries (Transfer of Shares) and in Reportable Segments" released on February 20, 2025, the Company transferred all shares of NOAH MEDICAL SYSTEM CORPORATION ("NOAH MEDICAL"), a consolidated subsidiary, to KAKEHASHI Inc. Accordingly, for the fiscal year ended March 31, 2025, the business of dispensing pharmacy support operated by NOAH MEDICAL is classified as discontinued operations, and revenue, operating profit, and EBITDA associated with said business are presented separately as discontinued operations.

      Operating results for the three months ended June 30, 2025 are as follows.

      (Operating results)

      (Millions of yen)

      Category	12th fiscal year Three months ended June 30, 2024		13th fiscal year Three months ended June 30, 2025		YoY change
      Revenue	8,096		10,725		2,629	32.5%
      Operating profit	1,042		1,552		509	48.8%
      EBITDA [margin]	1,649	[20.4%]	2,267	[21.1%]	618	37.5%

      (Segment results)

      (Millions of yen)

      Category		12th fiscal year Three months ended June 30, 2024		13th fiscal year Three months ended June 30, 2025		YoY change
      Healthcare-Big Data	Segment revenue	6,606		9,201		2,594	39.3%
      	Segment profit [ratio]	1,301	[19.7%]	1,919	[20.9%]	617	47.4%
      Tele-medicine	Segment revenue	1,500		1,524		23	1.6%
      	Segment profit [ratio]	532	[35.5%]	536	[35.2%]	3	0.6%
      Adjustment	Segment revenue	(10)		-		10	-
      	Segment profit	(185)		(187)		(1)	-
      Total	Revenue	8,096		10,725		2,629	32.5%
      	EBITDA [margin]	1,649	[20.4%]	2,267	[21.1%]	618	37.5%

      (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

        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, 2025, the number of contracted health insurance unions, etc. increased year-on-year. The annual transaction value per customer at pharmaceutical and insurance companies, 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, 2025.

        In addition to the above-mentioned business expansion, the Company gathered companies and organizations that will work to implement health management that exceeds industry organizations, and commenced full-scale operations for the "Health & Productivity Management Alliance" in June 2023, expanding to 486 companies and organizations as of June 30, 2025. The mission of this alliance is to revitalize Japanese companies through the health of employees and enable the sustainability of the health insurance system, and it is currently promoting three initiatives to hold study sessions and seminars, create health management assessments based on surveys and data analysis, and build information platforms for health management solutions. Going forward, the Company will accelerate the creation of results and business, by further expanding the activities and implementing health management.

        As a result, segment revenue for the three months ended June 30, 2025 was ¥9,201 million and segment profit (segment EBITDA) was ¥1,919 million.

        Tele-medicine

        The Group has the biggest platform for radiologists in Japan. In the three months ended June 30, 2025, 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, 2025 was ¥1,524 million and segment profit (segment EBITDA) was ¥536 million.

        (Reconciliation of EBITDA to operating profit)

        (Millions of yen)

        	12th fiscal year Three months ended June 30, 2024	13th fiscal year Three months ended June 30, 2025
        EBITDA	1,649	2,267
        Depreciation and amortization	(639)	(740)
        Other income	43	32
        Other expenses	(10)	(7)
        Operating profit	1,042	1,552

   2. ‌Outline of financial position for the three months ended June 30, 2025

      1. Assets, liabilities and equity

         Assets

         Assets at the end of the first quarter under review were ¥149,477 million, an increase of ¥6,456 million compared with the end of the fiscal year ended March 31, 2025. The main changes were increases of ¥3,458 million in cash and cash equivalents, ¥3,427 million in property, plant and equipment, and ¥3,406 million in goodwill as a result of the acquisition of new consolidated subsidiaries, despite a decrease of ¥5,697 million in trade and other receivables. 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 ¥70,986 million, an increase of ¥6,440 million compared with the end of the fiscal year ended March 31, 2025. This was mainly due to increases of ¥5,013 million in borrowings in non-current liabilities and ¥1,583 million in borrowings in current liabilities, despite a decrease of ¥1,835 million in income taxes payable due to payment.

         Equity

         Equity at the end of the first quarter under review was ¥78,491 million, an increase of ¥15 million compared with the end of the fiscal year ended March 31, 2025. This was mainly due to the recording of ¥1,045 million in dividend payment and ¥957 million in profit.

      2. Cash flows

      Cash and cash equivalents ("net cash") at the end of the first quarter under review was ¥35,634 million, an increase of ¥3,458 million compared with the end of the fiscal year ended March 31, 2025.

      The respective cash flow positions for the three months ended June 30, 2025, and the factors thereof are as follows.

      Cash flows from operating activities

      Net cash provided by operating activities was ¥5,372 million (¥7,910 million provided in the three months ended June 30, 2024). This was mainly due to the recording of ¥1,441 in profit before tax and a decrease of ¥5,963 million in trade and other receivables, despite recording ¥2,231 million in income taxes paid.

      Cash flows from investing activities

      Net cash used in investing activities was ¥5,138 million (¥1,599 million used in the three months ended June 30, 2024). This was mainly due to purchase of shares of subsidiaries resulting in change in scope of consolidation of ¥4,530 million and purchase of intangible assets of ¥342 million.

      Cash flows from financing activities

      Net cash provided by financing activities was ¥3,225 million (¥2,911 million used in the three months ended June 30, 2024). This was mainly due to the recording of ¥5,500 million in proceeds from long-term borrowings, despite recording ¥1,043 million in dividends paid.

   3. ‌Explanation of consolidated earnings forecasts and other forward-looking statements

   The consolidated earnings forecasts for the fiscal year ending March 31, 2026 are unchanged from the forecasts announced on May 7, 2025. However, as shown below, the Company has decided to announce the consolidated earnings forecasts for the six months ending September 30, 2025. 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

   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
   Previously announced forecast (A)	Millions of yen	Millions of yen	Millions of yen	Millions of yen	Millions of yen	Yen
   	-	-	-	-	-	-
   Revised forecast (B)	23,000	4,000	3,800	2,500	2,500	36.71
   Increase (Decrease) (B-A)	-	-	-	-	-	-
   Increase (Decrease) percentage (%)	-	-	-	-	-	-
   (Reference) Actual results for the six months ended September 30, 2024	18,548	3,154	3,071	2,211	2,189	33.51

   (Note) In the consolidated statement of profit or loss for the six months ended September 30, 2024, the amount of revenue, operating profit, and profit before tax has been reclassified to exclude discontinued operations and show only the amount for continuing operations.

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, 2025			As of June 30, 2025
   Assets
   Current assets
   Cash and cash equivalents	32,176		35,634
   Trade and other receivables	20,065		14,368
   Contract assets	47		837
   Other financial assets	2,063		2,193
   Inventories	359		443
   Other current assets	1,157		1,344
   Total current assets	55,869		54,821
   Non-current assets
   Property, plant and equipment	13,926		17,354
   Goodwill	58,414		61,821
   Intangible assets	5,791		6,004
   Other financial assets	7,291		7,738
   Deferred tax assets	1,459		1,443
   Other non-current assets	266		291
   Total non-current assets	87,150		94,655
   Total assets	143,020		149,477
   Liabilities and equity
   Liabilities
   Current liabilities
   Borrowings	4,395		5,979
   Trade and other payables	7,744		8,708
   Lease liabilities	1,144		1,192
   Income taxes payable	2,403		567
   Contract liabilities	2,370		2,434
   Other current liabilities	2,447		2,517
   Total current liabilities	20,505		21,400
   Non-current liabilities
   Borrowings	33,883		38,897
   Lease liabilities	7,466		7,761
   Retirement benefit liability	200		277
   Provisions	512		628
   Deferred tax liabilities	1,193		1,177
   Contract liabilities	555		521
   Other non-current liabilities	226		321
   Total non-current liabilities	44,039		49,585
   Total liabilities	64,545		70,986
   Equity
   Share capital	25,134		25,140
   Capital surplus	28,227		28,233
   Treasury shares	(3)		(3)
   Other components of equity	27		28
   Retained earnings	24,634		24,646
   Total equity attributable to owners of parent	78,022		78,046
   Non-controlling interests	453		444
   Total equity	78,475		78,491
   Total liabilities and equity	143,020		149,477

2. ‌Condensed quarterly consolidated statement 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, 2024			Three months ended June 30, 2025
   Revenue	8,096		10,725
   Cost of sales	3,625		5,224
   Gross profit	4,470		5,500
   Selling, general and administrative expenses	3,461		3,973
   Other income	43		32
   Other expenses	10		7
   Operating profit	1,042		1,552
   Finance income	17		0
   Finance costs	34		111
   Share of profit (loss) of investments accounted for using equity method	(0)		0
   Profit before tax	1,025		1,441
   Income tax expense	329		484
   Profit from continuing operations	695		957
   Profit from discontinued operations	34		-
   Profit	730		957
   Profit attributable to
   Owners of parent
   Continuing operations	693		966
   Discontinued operations	34		-
   Total	727		966
   Non-controlling interests
   Continuing operations	2		(9)
   Discontinued operations	-		-
   Total	2		(9)
   Profit	730		957
   Earnings per share
   Basic earnings per share (Yen)	11.14		14.79
   Continuing operations	10.61		14.79
   Discontinued operations	0.53		-
   Diluted earnings per share (Yen)	11.03		14.65
   Continuing operations	10.51		14.65
   Discontinued operations	0.52		-

   Condensed quarterly consolidated statement of comprehensive income

   (Millions of yen)

   Three months ended June 30, 2024			Three months ended June 30, 2025
   Profit	730		957
   Other comprehensive income
   Items that will not be reclassified to profit or loss
   Financial assets measured at fair value through other comprehensive income	3		91
   Total of items that will not be reclassified to profit or loss	3		91
   Items that may be reclassified to profit or loss
   Exchange differences on translation of foreign operations	(1)		0
   Total of items that may be reclassified to profit or loss	(1)		0
   Other comprehensive income, net of tax	1		92
   Comprehensive income	731		1,049
   Comprehensive income attributable to
   Owners of parent	728		1,058
   Non-controlling interests	2		(9)
   Comprehensive income	731		1,049

3. ‌Condensed quarterly consolidated statement of changes in equity

   Three months ended June 30, 2024 (from April 1 to June 30, 2024)

   (Millions of yen)

   Equity attributable to owners of parent
   Other components of equity
   Share capital		Capital surplus	Treasury shares	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, 2024	25,099	28,304	(3)	(6)	-	30
   Profit	-	-	-	-	-	-
   Other comprehensive income	-	-	-	(1)	3	-
   Total comprehensive income	-	-	-	(1)	3	-
   Exercise of share acquisition rights	1	1	-	-	-	(0)
   Forfeiture of share acquisition rights	-	0	-	-	-	(0)
   Purchase of treasury shares	-	-	(0)	-	-	-
   Dividends	-	-	-	-	-	-
   Transactions with non-controlling interests	-	(112)	-	-	-	-
   Transfer to retained earnings	-	-	-	-	(3)	-
   Total transactions with owners	1	(109)	(0)	-	(3)	(0)
   Balance as of June 30, 2024	25,101	28,194	(3)	(8)	-	29

   Equity attributable to owners of parent

   Other components of equity

   Retained earnings Total

   Non-controlling interests

   Total

   Total

   Balance as of April 1, 2024	23	17,166	70,590	96	70,686
   Profit	-	727	727	2	730
   Other comprehensive income	1	-	1	-	1
   Total comprehensive income	1	727	728	2	731
   Exercise of share acquisition rights	(0)	-	3	-	3
   Forfeiture of share acquisition rights	(0)	-	-	-	-
   Purchase of treasury shares	-	-	(0)	-	(0)
   Dividends	-	(914)	(914)	-	(914)
   Transactions with non- controlling interests	-	-	(112)	2	(109)
   Transfer to retained earnings	(3)	3	-	-	-
   Total transactions with owners	(3)	(911)	(1,023)	2	(1,021)
   Balance as of June 30, 2024	21	16,982	70,296	101	70,397

   Three months ended June 30, 2025 (from April 1 to June 30, 2025)

   (Millions of yen)

   Equity attributable to owners of parent
   Other components of equity
   Share capital		Capital surplus	Treasury shares	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

   Other components of equity

   Retained earnings Total

   Non-controlling interests

   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

4. ‌Condensed quarterly consolidated statement of cash flows

   (Millions of yen)

   Three months ended June 30, 2024			Three months ended June 30, 2025
   Cash flows from operating activities
   Profit before tax	1,025		1,441
   Profit before tax from discontinued operations	47		-
   Depreciation and amortization	664		740
   Other income	(47)		(32)
   Decrease (increase) in trade and other receivables	6,925		5,963
   Decrease (increase) in contract assets	(700)		(790)
   Decrease (increase) in inventories	(83)		(83)
   Increase (decrease) in trade and other payables	333		948
   Increase (decrease) in contract liabilities	1,346		(26)
   Other	(277)		(468)
   Subtotal	9,235		7,693
   Interest and dividends received	0		0
   Interest paid	(33)		(90)
   Income taxes paid	(1,290)		(2,231)
   Net cash provided by (used in) operating activities	7,910		5,372
   Cash flows from investing activities
   Purchase of property, plant and equipment	(434)		(50)
   Purchase of intangible assets	(317)		(342)
   Payments for loans receivable	(210)		(100)
   Purchase of investments	(594)		-
   Purchase of shares of subsidiaries resulting in change in scope of consolidation	-		(4,530)
   Other	(43)		(115)
   Net cash provided by (used in) investing activities	(1,599)		(5,138)
   Cash flows from financing activities
   Proceeds from short-term borrowings	300		-
   Repayments of short-term borrowings	(1,701)		-
   Proceeds from long-term borrowings	-		5,500
   Repayments of long-term borrowings	(213)		(943)
   Repayments of lease liabilities	(279)		(299)
   Proceeds from exercise of share acquisition rights	3		11
   Dividends paid	(910)		(1,043)
   Other	(110)		-
   Net cash provided by (used in) financing activities	(2,911)		3,225
   Net increase (decrease) in cash and cash equivalents	3,400		3,458
   Cash and cash equivalents at beginning of period	14,473		32,176
   Effect of exchange rate changes on cash and cash equivalents	0		(0)
   Cash and cash equivalents at end of period	17,875		35,634

5. ‌Notes to condensed quarterly consolidated 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."

      For the fiscal year ended March 31, 2025, the business of dispensing pharmacy support operated by NOAH MEDICAL SYSTEM CORPORATION is classified as discontinued operations and removed from segment information. Accordingly, segment information for the three months ended June 30, 2024 has been reclassified to exclude discontinued operations and show only the amount for continuing operations.

      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 service 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, 2024 (from April 1 to June 30, 2024)

(Millions of yen)

Note: Adjustments include elimination of intersegment transactions and corporate expenses.

Three months ended June 30, 2025 (from April 1 to June 30, 2025)

(Millions of yen)

Note: Adjustments include elimination of intersegment transactions and corporate expenses.

A reconciliation of EBITDA to profit before tax is as follows.

(Millions of yen)

1. Overview of continuing operations

   The Company resolved to transfer all shares of NOAH MEDICAL SYSTEM CORPORATION ("NOAH MEDICAL"), a consolidated subsidiary, to KAKEHASHI Inc. at the meeting of its Board of Directors held on February 20, 2025, and the transfer of shares was completed on February 21, 2025.

   As a result, for the fiscal year ended March 31, 2025, business related to dispensing pharmacy support operated by NOAH MEDICAL is classified as discontinued operations.

2. Name of the subsidiary, business lines and name of the segment in which the said subsidiary was included

   Name	NOAH MEDICAL SYSTEM CORPORATION
   Business lines	Development and sales of business systems for pharmacies
   Name of the segment	Dispensing Pharmacy Support

3. Number of shares transferred and status of shares held before and after the transfer

   Number of shares held before transfer	500 shares (ownership ratio of voting rights: 100%)
   Number of shares transferred	500 shares
   Number of shares held after transfer	0 shares (ownership ratio of voting rights: 0%)

4. Profit or loss from discontinued operations

Profit or loss from discontinued operations is as follows.

(Millions of yen)

Not applicable.