JMDC (4483) Q4 2025 earnings summary

Executive summary

• Core Healthcare - Big Data and Tele-medicine segments drove strong growth in FY2024, with major KPIs expanding steadily.

• Revenue and EBITDA increased year-over-year, but both fell short of internal plans for the second consecutive year.

• Profit attributable to owners of parent increased to ¥7,275 million, and basic EPS rose to ¥111.34.

• Significant investments in data infrastructure and the acquisition of Cancerscan laid the foundation for future growth.

• Dispensing pharmacy support business discontinued, with results restated to reflect only continuing operations.

Financial highlights

• FY2024 consolidated revenue: ¥41,722 million (+36% YoY); EBITDA: ¥10,932 million (+19% YoY); operating profit: ¥8,717 million (+59% YoY).

• Profit attributable to owners (continuing operations): ¥5,821 million (+80% YoY); basic EPS: ¥111.34.

• EBITDA margin declined to 26% from 30% in FY2023 due to M&A and upfront investments.

• Total assets increased to ¥143,020 million, with cash and cash equivalents at ¥32,176 million.

• Dividend of ¥16 per share (total ¥1,045 million) for FY2024; payout ratio 14.4%.

Outlook and guidance

• FY2025/2026 revenue forecast: ¥50,500 million (+21% YoY); EBITDA: ¥14,500 million (+33% YoY); operating profit: ¥11,500 million (+32% YoY).

• Profit attributable to owners (continuing operations) expected at ¥7,400 million (+1.7% YoY).

• Healthcare - Big Data segment to drive growth, with Tele-medicine maintaining steady expansion.

• Upfront investments to moderate, with improved profit margins anticipated.

• Continued investment in data infrastructure and tele-medicine, including AI and overseas business.