FINDEX Inc.
Corporate Information

August 14, 2024
🄫2023 FINDEX Inc.

Corporate Profile

As of April 1, 2024

Corporate Name

FINDEX Inc.

Representative

President & CEO Teruo AibaraHeadquarters

26F Tokyo Sankei Building 1-7-2 Otemachi Chiyoda-ku, Tokyo 100-0004

Offices

Shikoku / Osaka / Fukuoka / Sapporo / Naha / Kyoto / Niigata / Kagoshima

Subsidiary

Fitting Cloud Inc.

History

May. 1994

Founded as a medical software developer

Mar. 1998

Corporate name changed to PSC. Inc

Mar. 2011

Listed on Osaka Stock Exchange (JASDAQ)

Nov. 2014
Apr. 2022

Corporate name changed to FINDEX Inc.
Listed on the Tokyo Stock Exchange, 1st Section
Listing transferred to the Tokyo Stock Exchange, Prime MarketWebsite

https://findex.co.jp/en/index.html

Capital254 million yen

Number of Employees

292（Consolidated : 298 ）🄫2023 FINDEX Inc.

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Our Strengths
Engineers and consultants with expertise• Majority of our employees are engineers, with extensive knowledge of hardware and softwaredevelopment as well as medical operations.

• Our sales team serves as consultants with expertise in directly communicating with hospitals and clinics
to offer and install medical solutions.

Profitable business model built by a talented team
• Over 300 employees on non-consolidated basis.
• Maintaining a high-margin business model by delegating sales to distributors in each region.
• Recently focusing on the sales of packaged software solutions for medical industry.

Highly specialized and versatile products• Flexible support for department-specific operations and tasks, patient flow, and overall hospital workflow.
• With a wide variety of products, we provide comprehensive solutions required by medical facilities.

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Our BusinessContribute to improving the efficiency of medical operations forhealthcare professionals, as well as to support hospital management

MedicalBusiness• Integrated management system for medical information• Patient guidance application• Could based services for large hospitals• Regional collaboration Solutions

PublicSector
Business

Support public sector organizations to improve their operational
efficiency by promoting tailored digitalization tools• Official documents management services• e-authorization services• Consultations on digitalization

Health TechBusiness

Challenge to the early detection of eye diseases and acquisition /utilization of data, with new ideas and cutting-edge technology• Medical devices (visual field testing and contrast sensitivity testing)• Development of early dementia diagnostic device

🄫2023 FINDEX Inc.

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Our Flagship Solutions

On-Premise Solution

Medical Business

Cloud Solution

Hospitals

Clinics
Medical Big Data Search System

Integrated Browsing System

UniversalSearcher

ClaioDashboard

PDI Import / ExportSolution

PDI+MoveBy

Network Imaging System

Claio

Progress Note System

C-NoteHIS(Hospital Information System)

Management Solution

C-ScanConnectFAX

Progress Note System

C-NoteMedical Information
Remote Sharing
Application

Perinatal Information
SystemMedical Document

Electronic Medical

Management SystemRecordDocuMaker

REMORA

Remotalk-Cloud

MapleNote

Radiological Information

FAX Reference

Document Integrated
Archiving System

System

ProRad RIS

Patients

Data Management Software

ClaioSystem

Patient
Information Application

ProRad RS

Medical Avenue

Radiological Reporting

同意診断書Medical書
Documents

Care
Facilities

Telemedicine System forLarge Hospitals

Electronic Medical Record

On-shinPharmacies
RPA Tool forDocument Management

RPA Tool for

Medical Facilities

SystemMedical Facilities

DigiWorker

DocuMaker Office

DocuMaker

Electric Tracing
Report Service

Local
Governments

AAdE-Report

Medical Community
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4Market Size and Trends

Medical BusinessWe maintain a strong presence with our major lead user, the university hospitals, while
having opportunities for further expansion

UniversityHospitals

Doctors begin their careersat university hospitals,
subsequently transitioning
into clinical, research, or
private practice roles

The superior convenienceand reliability of ourproducts, proven throughtheir widespread adoption
in numerous university
hospitals

Even without active sales
efforts, we receive requests
for system implementationfrom general hospitals(Public & Private)

Large
Hospitals(400 bedsand up)

Medium-sizedHospitals(100-399 beds)

Small Hospitals(20-99 beds)
Clinics(0-19 beds )# of Facilities# of Our Users

Approx.

Approx.

150100Approx.

Approx.

750300Approx.

Approx.

4,500

300

Approx.

Approx.

3,000

100

Approx.

Approx.

105,000

1,200

Coverage

66.7%
40.0%

6.7%

3.3%

1.1%

* Counting changed, in line with the revision made for the criteria of large hospitals, from 500 beds & above to 400 beds & above, by the domestic medical fee regulation in 2018.
* Calculated based on the Ministry of Health, Labor and Welfare's 2021 Survey of Medical Facilities (Static/Dynamic) and Summary of Hospital Reports. Customers purchased one-time products are excluded.

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( As of March 31, 2024 )5

Sales Cycle of Medical Software (Initial & Running)

Medical Business

Medical software is typically replaced every 5-7 years,
depending on the server and PC life cycles
Direct Sales by FINDEX*Testbeds for packaged solutions
University
hospitals
Large
hospitals

Initial cost

JPY100-200 mn*Excluding equipment

Targeting more items to be
added at the time ofrenewal

初期用

initialcost

Maintenance fee
JPY7-15 mn / Year

5-6yrs6-7yrs
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Outsourced Sales
by Distributors / Alliance Partners
Large hospitals

Initial cost

Midsize Hospitals

JPY20-100 mn

Small hospitals /clinics(60% of this amount is our profit)*Excluding equipment

Cross selling

renewalinitialcost

Cross selling

Maintenance fee
JPY1.5-7 mn / Yearrenewal5-6yrs6-7yrs6

Our Cross Selling Strategy

Medical BusinessSeparate purchases not necessary
Cost saving and user oriented

TOTAL JPY 190 mn
Company A

Software

TOTAL JPY

Documentation
Software
Software Linking

JPY 30 mn
Server Storage

125 mnDocumentation
Software

Software only

JPY 15 mn

Obstetrics
Medical Record

Software only

JPY 30 mn

Ophthalmology
Medical Record

Software only

JPY 30 mn

JPY 50 mn

Claio
Claio
*Software for Examination Data Management

SoftwareLinking

ServerStorage

Company B

SoftwareCompany C

SoftwareObstetrics
Medical Record
Software Linking

Ophthalmology
Medical Record
Software Linking

JPY 80 mn
Server Storage

JPY 80 mn
Server Storage* The most basic data filing feature of departments’ test data

An Example of Software Composition by Findex

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An Example of Software Composition by other vendors
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Sales Process and Forecasting Measures

Medical Business

Most of the sales come from large hospitals⚫ Procurements at large hospitals generally involves international competitive bidding.
⚫ In many cases, hospitals start interviews with the software vendors more than a year a head thescheduled date of implementation.
*When the procurement is small, the process may be completed in a few months.
e.g. Flowchart of Medical Software Implementation at a Large Hospital
STEP1
Product
presentation
to a hospital

Submit reference
quotations tohospitals /bidding vendors

STEP2
Bidding (Procurement)
specifications with materials
Invitation for opinion responses
Bidding (procurement)
advertisements
Submit quotations tohospitals / bidding vendors

STEP3
Bid opening(Bidder will be decidedin about 0-1 month)

Receipt of order(sales contract concluded
with hospitals / bidder)

Receipt inspection(system activated)

1.0 - 1.5 years
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8

Our Product and its Targets

Public Sector Business
Document Management Software

RPA Tool

DocuMaker Office

DigiWorker

Our targets of “DocuMaker Office” are the local governments and medical institutions;they fully take advantages of our product expertise

Local Governments /Public Organizations

Medical Institutions

Organizations that need to manage official
documents in accordance with the law

General & Administrative Sections

Archive management (drafting/bookkeeping)

WorkflowElectronic Approval

Hospital Functional Evaluation

Internal application(Excluding archive document), etc.

Contract management, etc.

Central government promotes digitalization ofapproval process - Local governments are willingto install digital tools

Hospitals begin document management followingchanges in hospital functional evaluation
requirements

Utilizing our expertise in the medical field,
provide operational consulting suited for publicorganizations and support digitalization withversatile functions

Support document management throughout
the entire institution, by extending ourexpertise in medical field to administrations

🄫2023 FINDEX Inc.

9Market Size and Trends

Public Sector Business
Document Management Software

RPA Tool

DocuMaker Office

DigiWorker

Extending scope of targets from small to medium-sized local governments and publiccorporations to incorporated administrative agencies and large local governments
Local Governments
Medium-sizedLarge

Small

Population over 500,000

Population over 200,000- 500,000

Population - 200,000Approx. 30 org.

Approx. 100 org.

Approx. 1,600 org.

PublicOrganizations

Incorporated
Administrative
AgencyApprox. 4,000 org.

Approx. 80 org.

S Co.

N Co.
U Co.

FA Co. N Co.

N Co.

FINDEX

R Co.

FA Co.

FINDEXH Co.

FB Co.

FB Co.
R Co.

FINDEXS Co.

For Private
Workflow Systems

N Co.

FINDEX S Co.

Project scale

Large

Project scaleMid

Project scale

Small

Project scale

Small

Project scale

Large

Organizations without
digitalized document
management solutions

Few

Organizations without
digitalized document
management solutions

Few

Organizations without
digitalized document
management solutionsMany

Organizations without
digitalized document
management solutions

Many

Organizations without
digitalized document
management solutions

Few

Expanding target
scale by accumulating
achievements

Main Targets

Expanding market share by enhancing
functions and accumulating expertise,targeting to the IAAs seeking
replacements of solutions originallyprovided by major vendors*# .of Local governments: Calculated based on the Population Census (by prefecture/municipality) as of 2020 Statistics Bureau, Ministry of Internal Affairs and Communications.
*# of Public organizations: Calculated based on the report “Outline of Public Interest Corporations and Public Interest Corporation Authorization Committee” as of 2021 Cabinet Office.
*# of Incorporated administrative agency: Calculated based on the list of "Incorporated administrative agency" as of 2022 Ministry of Internal Affairs and Communications.
🄫2023 FINDEX Inc.

10

Perimetry Business

Gaze Analyzing Perimeter
GAP/GAP-screener

Health Tech Business

A New Visual Field Test
GAP/GAP-screener
With the establishment of a new visual field test,
we aim to achieve early detection of eye diseases andfurther expand our business by utilizing the collected data

Rolling out the business from two aspects:
Development ofa perimetry system● In-house development of the world's firstobjective perimeter● Extend the test not only at medical
facilities but also at health checkup
facilities

🄫2023 FINDEX Inc.

Collection & analysisof data on eye defects● Distribute our solution as a free app● Globally collect data on eye defects● Utilize the data for disease prevention,
drug discovery & development, andhealthcare management
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GAP - Its Innovative Features
GAP
Judgment

Duration

Location

Testing
MethodResults

TechnologyApplication

Gaze Analyzing Perimeter
GAP/GAP-screener

Health Tech Business

Existing Products

The device automatically assesses the examinee'svisibility

Examinees judge visibilities by themselves→ Results are accurate and errors rarely occur→ Leads to misjudgments and misunderstandings

Takes only 3-5 minutes

Takes approx. 20 minutes→ Increases numbers of tests administrated per day→ Prior bookings are essential to manage time slots

Space saving design and easy to carry

Many requirements and restrictions for installation→ Can be used anywhere→ Only sold to eye clinics with a dark room

Examinees can MOVE their eyesExaminees need to lock his/her eyes

→ User oriented→ May not be applicable for children and aged

Tests can be operated without skills

Operators need to be trained and skilled→ Possibilities to be installed in other businessformats*1→ Tests need to be conducted by orthoptists

Applicable to detect not only retinal diseases but also MCI(Mild Cognitive Impairment) and mental disorders

Designed only to detect retinal diseases→ Further research ongoing for Neurologic diseases
and Dementia→ Cannot be diverted for another use*1 Orthoptists are the only authorized operators to conduct visual field test in Japan.
🄫2023 FINDEX Inc.

12Market Size and Trends

Gaze Analyzing Perimeter
GAP/GAP-screener

Targets

Eye hospitals and clinics & Checkup centers

Domestic
Market・Eye Hospitals & Clinics (Sold as a packaged device, service life 5 years)
Market size: 2,342*1 Hospitals / 8,244*2 Clinics
・Checkup Centers (Pricing: pay-as-you-test)
Market size: approx. 1,799*3 Checkup Centers (GAP-screener)

Overseas
Market

Health Tech Business・The EU, UK, Middle East and African countries
Distributing through Rexxam Co., Ltd. (Rexxam)'s ophthalmic device sales channels

・India & the ASEAN countries
Distributing through Toyota Tsusho Corporation (TTC)'s ophthalmic device sales channels＜Sales Process＞
Medical Device Distriburors

Domestic

Hospitals
and Clinics( Selling as packaged devices )Findex / TTC

CheckupCenters( Pricing: pay-per-test )Overseas

Rexxam / TTC

Hospitalsand Clinics( The EU, the UK, Middle East and African countries, India and the ASEAN countries )*1 :The Ministry of Health, Labor and Welfare's 2022 Survey of Medical Facilities (Dynamic) and Summary of Hospital Reports*2 :The Ministry of Health, Labor and Welfare's 2020 Survey of Medical Facilities (Static/Dynamic) and Summary of Hospital Reports*3 : From the data in the list of information on member facilities of JAPAN SOCIETY OF NINGEN DOCK

🄫2023 FINDEX Inc.

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Rollout of GAP Business

Gaze Analyzing Perimeter
GAP/GAP-screener

Health Tech Business

Promote sales and data utilization
with a focus on three main areas:
1. Hospitals& Clinics

2. CheckupCenters

3. Overseas

GAP installation for
medical institutions(for examination)

GAP installation forcheckup centers(for screening)visual field tests• Introducing GAP overseas• Collecting global data from

• Feb. 2019 : Domestic medical device registration completed for GAP-screener / Product launched• Jan. 2019 : Domestic medical device registration completed for GAP• Apr. 2021 : GAP Launched for domestic sales• May. 2022 : Strategic alliance with TTC for installation at Checkup Centers and sales in the Asian countries• May. 2022 : Signed a distributorship agreement with Rexxam for sales in the EU• Aug. 2022 : Completed Declaration of Conformity to EU-MDR for GAP• Dec. 2023 : Launched sales in the EU region• 2024~
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: Continue preparations for medical regulatory approval in other countries
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Initiatives for Sustainability
As a corporation supporting medical care and health with digitalization,
we are engaged in various initiatives toward the realization of a sustainable society.
Support and engage in international initiatives for climate change• Promote disclosure of non-financial information in line with the TCFD framework• Support the challenges of external organizations in their efforts to developa sustainable society

Contribute to reducing disparities in health care and improving wellbeing of people• Increase access to early detection of glaucoma and other eye diseases by promoting the use of GAP,
an in-house developed perimeter• Realize a framework that allows any person to receive smooth and efficient medical care at large hospitals,
introducing telemedicine and utilizing location information• Creating and maintaining a healthy work environment with high levels of employee engagement

Ensure good corporate governance and accelerate diversity and inclusion• Strengthen information security and ensure compliance• Foster an organizational culture that can withstand changes in the external environment by facilitating diversity
in hiring and promotion• Support employees develop their talents in line with their career goals through internal programs andmake adjustments required for employees to accept promotions

🄫2023 FINDEX Inc.

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🄫2023 FINDEX Inc.