Major Estimate Revision • May 18
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate fell from JP¥142 to JP¥127 per share. Revenue forecast steady at JP¥60.8b. Net income forecast to grow 23% next year vs 22% growth forecast for Healthcare Services industry in Japan. Consensus price target down from JP¥5,281 to JP¥4,792. Share price was steady at JP¥2,675 over the past week. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥2,680, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Healthcare Services industry in Japan. Total loss to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,185 per share. Price Target Changed • May 13
Price target decreased by 9.3% to JP¥4,792 Down from JP¥5,281, the current price target is an average from 10 analysts. New target price is 75% above last closing price of JP¥2,737. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥130 for next year compared to JP¥103 last year. Buy Or Sell Opportunity • May 11
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to JP¥2,665. The fair value is estimated to be JP¥3,989, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 9.5%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Reported Earnings • May 09
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥103 (up from JP¥89.08 in FY 2025). Revenue: JP¥50.5b (up 21% from FY 2025). Net income: JP¥6.77b (up 16% from FY 2025). Profit margin: 13% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.8%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Live News • May 09
JMDC Lifts Dividend as Profit Slips and Projects 20% Revenue Growth for Next Year JMDC reported higher revenue and operating profit for fiscal 2026, while net profit and earnings per share slipped due to margin pressure and weaker overall profitability.
The company approved a higher year-end dividend of ¥18 per share, compared with ¥16 the previous year, signaling continued focus on shareholder returns.
Management is guiding to nearly 20% revenue growth for fiscal 2027, supported by expected demand for its healthcare data services, while the dividend outlook remains undecided.
For you as an investor, the mix of stronger top-line and operating results alongside a decline in net profit points to cost or margin pressure that is not fully visible at the revenue level. It suggests that the business is still expanding its operations and investing for growth, but those efforts are currently weighing on overall profitability. The higher dividend implies management is comfortable enough with cash generation and the balance between growth spending and shareholder returns to increase the payout for fiscal 2026.
The forecast of nearly 20% revenue growth for fiscal 2027 anchors JMDC’s case on continued demand for its healthcare data services. At the same time, the company’s decision to leave the fiscal 2027 dividend unspecified underlines that future payouts will likely depend on how profitability and cash flows develop over the year. As you look at JMDC, it is worth keeping an eye on how effectively the company converts projected revenue growth into sustained profit and on any further signals about its capital allocation priorities. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,475, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Healthcare Services industry in Japan. Total loss to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,583 per share. Declared Dividend • Mar 08
Dividend of JP¥16.00 announced Shareholders will receive a dividend of JP¥16.00. Ex-date: 30th March 2026 Payment date: 8th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 0.9%. Payout Ratios Payout ratio: 15%. Cash payout ratio: 15%. Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥37.22 (up from JP¥25.60 in 3Q 2025). Revenue: JP¥13.4b (up 18% from 3Q 2025). Net income: JP¥2.44b (up 46% from 3Q 2025). Profit margin: 18% (up from 15% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Dec 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Dec 12
JMDC Inc. to Report Q3, 2026 Results on Feb 05, 2026 JMDC Inc. announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: JP¥21.56 (down from JP¥22.37 in 2Q 2025). Revenue: JP¥12.4b (up 15% from 2Q 2025). Net income: JP¥1.41b (down 3.6% from 2Q 2025). Profit margin: 11% (down from 14% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 01
JMDC Inc. to Report Q2, 2026 Results on Nov 06, 2025 JMDC Inc. announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥14.78 (up from JP¥11.13 in 1Q 2025). Revenue: JP¥10.7b (up 27% from 1Q 2025). Net income: JP¥966.0m (up 33% from 1Q 2025). Profit margin: 9.0% (up from 8.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 04
Now 21% undervalued Over the last 90 days, the stock has risen 22% to JP¥3,934. The fair value is estimated to be JP¥4,963, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 5.8%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Announcement • May 18
JMDC Inc. to Report Q1, 2026 Results on Aug 06, 2025 JMDC Inc. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 08
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥89.08 (up from JP¥71.76 in FY 2024). Revenue: JP¥41.7b (up 29% from FY 2024). Net income: JP¥5.82b (up 26% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 07
JMDC Inc., Annual General Meeting, Jun 25, 2025 JMDC Inc., Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥3,052, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 17x in the Healthcare Services industry in Japan. Total loss to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,612 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.2%). Announcement • Mar 13
JMDC Inc. to Report Fiscal Year 2025 Results on May 07, 2025 JMDC Inc. announced that they will report fiscal year 2025 results on May 07, 2025 Declared Dividend • Mar 06
Dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.9%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 14%. Announcement • Feb 20
Kakehashi Co., Ltd. agreed to acquire Noah Medical System K.K. from JMDC Inc. (TSE:4483) for ¥3.0 billion. Kakehashi Co., Ltd. agreed to acquire Noah Medical System K.K. from JMDC Inc. (TSE:4483) for ¥3.0 billion on February 20, 2025. A cash consideration of ¥3 billion will be paid by Kakehashi Co., Ltd. As part of consideration, ¥3 billion is paid towards common equity of Noah Medical System K.K.
For the period ending March 31, 2024, Noah Medical System K.K. reported total revenue of ¥1.22 billion, EBIT of ¥134 million and net income of ¥97 million. As of March 31, 2024, Noah Medical System K.K. reported total assets of ¥921 million and total common equity of ¥669 million.
The expected completion of the transaction is February 21, 2025. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,305, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 20x in the Healthcare Services industry in Japan. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,032 per share. Reported Earnings • Feb 06
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: JP¥25.60 (up from JP¥20.14 in 3Q 2024). Revenue: JP¥11.4b (up 34% from 3Q 2024). Net income: JP¥1.67b (up 27% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Dec 11
JMDC Inc. to Report Q3, 2025 Results on Feb 05, 2025 JMDC Inc. announced that they will report Q3, 2025 results on Feb 05, 2025 New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Price Target Changed • Sep 17
Price target increased by 9.5% to JP¥5,474 Up from JP¥5,001, the current price target is an average from 11 analysts. New target price is 18% above last closing price of JP¥4,650. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥98.59 for next year compared to JP¥71.75 last year. Announcement • Sep 06
JMDC Inc. to Report Q2, 2025 Results on Nov 05, 2024 JMDC Inc. announced that they will report Q2, 2025 results on Nov 05, 2024 Reported Earnings • Aug 04
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥11.13 (down from JP¥32.41 in 1Q 2024). Revenue: JP¥8.42b (up 26% from 1Q 2024). Net income: JP¥727.0m (down 64% from 1Q 2024). Profit margin: 8.6% (down from 31% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,661, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 19x in the Healthcare Services industry in Japan. Total loss to shareholders of 35% over the past three years. Announcement • Jun 21
JMDC Inc. to Report Q1, 2025 Results on Aug 02, 2024 JMDC Inc. announced that they will report Q1, 2025 results on Aug 02, 2024 Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥3,030, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 21x in the Healthcare Services industry in Japan. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,229 per share. Buy Or Sell Opportunity • May 31
Now 24% overvalued Over the last 90 days, the stock has fallen 28% to JP¥2,740. The fair value is estimated to be JP¥2,217, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Price Target Changed • May 29
Price target decreased by 7.8% to JP¥4,938 Down from JP¥5,353, the current price target is an average from 10 analysts. New target price is 92% above last closing price of JP¥2,577. Stock is down 55% over the past year. The company is forecast to post earnings per share of JP¥99.44 for next year compared to JP¥71.75 last year. Reported Earnings • May 08
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥71.76 (up from JP¥71.16 in FY 2023). Revenue: JP¥32.4b (up 16% from FY 2023). Net income: JP¥4.61b (up 8.0% from FY 2023). Profit margin: 14% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 18
Price target decreased by 7.5% to JP¥5,400 Down from JP¥5,840, the current price target is an average from 10 analysts. New target price is 73% above last closing price of JP¥3,117. Stock is down 36% over the past year. The company is forecast to post earnings per share of JP¥108 for next year compared to JP¥71.16 last year. Announcement • Mar 24
JMDC Inc. to Report Fiscal Year 2024 Results on May 07, 2024 JMDC Inc. announced that they will report fiscal year 2024 results on May 07, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (0.9%). New Risk • Mar 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Declared Dividend • Mar 02
Dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 28th March 2024 Payment date: 7th June 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.9%. Payout Ratios Payout ratio: 14%. Cash payout ratio: 71%. Reported Earnings • Feb 04
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥20.13 (up from JP¥19.27 in 3Q 2023). Revenue: JP¥8.54b (up 14% from 3Q 2023). Net income: JP¥1.32b (up 8.7% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Dec 24
JMDC Inc. to Report Q3, 2024 Results on Feb 02, 2024 JMDC Inc. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥9.83 (down from JP¥11.75 in 2Q 2023). Revenue: JP¥7.05b (up 12% from 2Q 2023). Net income: JP¥622.0m (down 8.3% from 2Q 2023). Profit margin: 8.8% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Nov 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.4% average weekly change). Minor Risk Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥4,625, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 21x in the Healthcare Services industry in Japan. Total loss to shareholders of 6.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,484 per share. Announcement • Oct 12
OMRON Corporation (TSE:6645) completed the acquisition of 23.09% stake in JMDC Inc. (TSE:4483) for approximately ¥85.5 billion. OMRON Corporation (TSE:6645) made an offer to acquire 18.52% stake in JMDC Inc. (TSE:4483) for approximately ¥68.6 billion on September 8, 2023. The tender offer price is ¥5,700 per share of common stock. OMRON Corporation is the largest shareholder and a major shareholder holding 20,459,000 shares (ownership ratio: 31.49%) of the JMDC Inc's shares, which make the Company an equity-method affiliate of the Offeror. The Tender Offeror aims to make the JMDC Inc. a consolidated subsidiary through the Tender Offer, set the minimum number of shares sought for purchase as 12,036,700 shares.
OMRON Corporation (TSE:6645) completed the acquisition of 23.09% stake in JMDC Inc. (TSE:4483) for approximately ¥85.5 billion on October 10, 2023. On completion, OMRON Corporation acquired 15,000,000 shares and post tender offer number of shares owned after change will stand at 35,459,000 shares representing 54.57% interest in JMDC Inc. held by OMRON Corporation. As a result of the Tender Offer, the JMDC Inc is scheduled to become a consolidated subsidiary of the OMRON Corporation. New Risk • Oct 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Announcement • Sep 24
JMDC Inc. to Report Q2, 2024 Results on Nov 02, 2023 JMDC Inc. announced that they will report Q2, 2024 results on Nov 02, 2023 Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥5,275, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 25x in the Healthcare Services industry in Japan. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,450 per share. Major Estimate Revision • Aug 22
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥34.8b to JP¥33.6b. EPS estimate rose from JP¥87.98 to JP¥98.12. Net income forecast to grow 12% next year vs 35% growth forecast for Healthcare Services industry in Japan. Consensus price target down from JP¥7,111 to JP¥6,923. Share price fell 10% to JP¥4,016 over the past week. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥4,215, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 20x in the Healthcare Services industry in Japan. Total loss to shareholders of 2.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,815 per share. Reported Earnings • Aug 10
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: JP¥32.41 (up from JP¥13.53 in 1Q 2023). Revenue: JP¥6.70b (up 16% from 1Q 2023). Net income: JP¥2.04b (up 167% from 1Q 2023). Profit margin: 31% (up from 13% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) exceeded analyst estimates by 121%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 26
JMDC Inc. to Report Q1, 2024 Results on Aug 09, 2023 JMDC Inc. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥71.16 (up from JP¥57.93 in FY 2022). Revenue: JP¥27.8b (up 28% from FY 2022). Net income: JP¥4.27b (up 31% from FY 2022). Profit margin: 15% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.2%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • Feb 08
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥19.26. Revenue: JP¥7.48b (up 22% from 3Q 2022). Net income: JP¥1.21b (up 6.3% from 3Q 2022). Profit margin: 16% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Healthcare Services industry in Japan. Announcement • Feb 07
JMDC Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 JMDC Inc. provided consolidated earnings guidance for the fiscal year ending March 31, 2023. For the year, the company expects revenue of JPY 27,500 million, operating profit of JPY 6,000 million, profit of JPY 4,000 million and basic earnings per share of JPY 69.73. Announcement • Dec 26
JMDC Inc. to Report Q3, 2023 Results on Feb 06, 2023 JMDC Inc. announced that they will report Q3, 2023 results on Feb 06, 2023 Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥4,245, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 36x in the Healthcare Services industry in Japan. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,478 per share. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥11.75 (vs JP¥10.68 in 2Q 2022) Second quarter 2023 results: EPS: JP¥11.75 (up from JP¥10.68 in 2Q 2022). Revenue: JP¥6.28b (up 25% from 2Q 2022). Net income: JP¥678.0m (up 13% from 2Q 2022). Profit margin: 11% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Healthcare Services industry in Japan. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Director Seiji Takeda was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥11.77 (vs JP¥10.68 in 2Q 2022) Second quarter 2023 results: EPS: JP¥11.77 (up from JP¥10.68 in 2Q 2022). Revenue: JP¥6.28b (up 25% from 2Q 2022). Net income: JP¥679.0m (up 13% from 2Q 2022). Profit margin: 11% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Healthcare Services industry in Japan. Price Target Changed • Oct 24
Price target decreased to JP¥7,750 Down from JP¥8,460, the current price target is an average from 6 analysts. New target price is 58% above last closing price of JP¥4,920. Stock is down 43% over the past year. The company is forecast to post earnings per share of JP¥71.69 for next year compared to JP¥57.93 last year. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥13.53 (vs JP¥9.64 in 1Q 2022) First quarter 2023 results: EPS: JP¥13.53 (up from JP¥9.64 in 1Q 2022). Revenue: JP¥5.78b (up 28% from 1Q 2022). Net income: JP¥765.0m (up 42% from 1Q 2022). Profit margin: 13% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 29%, compared to a 14% growth forecast for the industry in Japan. Reported Earnings • Jun 26
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: JP¥21.8b (up 30% from FY 2021). Net income: JP¥3.26b (up 32% from FY 2021). Profit margin: 15% (in line with FY 2021). Revenue missed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 28%, compared to a 14% growth forecast for the industry in Japan. Price Target Changed • Jun 21
Price target decreased to JP¥8,240 Down from JP¥8,960, the current price target is an average from 7 analysts. New target price is 55% above last closing price of JP¥5,300. Stock is up 3.7% over the past year. The company is forecast to post earnings per share of JP¥77.71 for next year compared to JP¥57.93 last year. Price Target Changed • May 19
Price target decreased to JP¥8,960 Down from JP¥9,800, the current price target is an average from 7 analysts. New target price is 82% above last closing price of JP¥4,935. Stock is up 5.9% over the past year. The company is forecast to post earnings per share of JP¥81.49 for next year compared to JP¥57.93 last year. 
