These documents have been translated from Japanese originals for reference purposes only. In the event ofany discrepancy between these translated documents and the Japanese originals, the originals shall prevail.
September 7, 2023

NIHON KOHDEN CORPORATION (6849)
Stock Exchange Listing:
Head Office:Representative:
Contact:

Prime Market, Tokyo Stock Exchange
Tokyo
Hirokazu Ogino, Representative Director, President
Fumio Izumida, Operating Officer, General Manager, Corporate Strategy Division
Phone: +81 / 3-5996-8003

Nihon Kohden Corporation to Change Name of Subsidiary,Spin off the Subsidiary, and Change in Specified Subsidiary
Nihon Kohden Corporation (“Nihon Kohden”) today announced that on September 7, 2023, its Board ofDirectors passed a resolution to i) change the name of Nihon Kohden OrangeMed, Inc., one of Nihon
Kohden’s wholly owned subsidiaries, to “Nihon Kohden North America, Inc.”, and ii) allow Nihon Kohden
OrangeMed, Inc. to contribute and assign its ventilator business to Nihon Kohden OrangeMed, LLC, awholly owned subsidiary of Nihon Kohden OrangeMed, Inc., as of October 1, 2023. Accordingly, theventilator business of Nihon Kohden OrangeMed, Inc. will be operated under the name of Nihon Kohden
OrangeMed, LLC, on or around October 1, 2023, upon the completion of necessary regulatory process.
This is a reorganization of wholly owned subsidiaries, and therefore, information disclosure is partiallyomitted.
1. Change Name of Subsidiary(1) Outline of Subsidiary(1) Name(2) Location(3) Name and title of representative(4) Business(5) Capital

Nihon Kohden OrangeMed, Inc.
California, U.S.APresident, Eiichi Tanaka (Nihon Kohden’s director) ** The head of the ventilator business is Hong-Lin Du.
 Management control for subsidiaries in the U.S.
 R&D, production, and sales of ventilators$83 million (¥10,790 million) * Based on US accounting andan exchange rate of 130 yen to the U.S. dollar.

(2) Reason for Name Change
Nihon Kohden reorganized its subsidiaries in the United States on April 1, 2023, as described in thepress release regarding the Reorganization of its U.S. Subsidiaries into a Holding Company Structure,
Change in Specified Subsidiaries, and Name Change of Subsidiaries announced on March 7, 2023.
Nihon Kohden OrangeMed, Inc. is a holding company that manages and controls Nihon Kohden’sU.S.-based business and operates the U.S.-based ventilator business. As the U.S. holding company
structure matures, Nihon Kohden will separate a holding company that manages all U.S. subsidiaries
from a company that conducts the U.S.-based ventilation business. At this time, Nihon Kohden will
rename the holding company “Nihon Kohden North America, Inc.,” to better describe the holding
company’s geographic scope. By effecting this name change, Nihon Kohden aims to enhance its U.S.
business further through (i) increased synergy, (ii) efficient group governance and operations, and (iii)
strengthened competitiveness utilizing its local R&D, production, and sales capabilities.

1(3) New Company Name
Nihon Kohden North America, Inc.
(4) Scheduled Date of Change
October 1, 2023
2. Split of Subsidiary(1) Purpose of Company Split
Nihon Kohden OrangeMed, Inc. is a holding company to manage and control of its U.S. business aswell as operates its ventilator business. As the transition to a holding company is completed, Nihon
Kohden OrangeMed, Inc. will contribute and assign its ventilator business to its wholly owned
subsidiary, Nihon Kohden OrangeMed, LLC.
(2) Outline of Company Split
1) Schedule of Company Split
Date of Resolution of the Board of Directors: September 7, 2023
Date of Split:
October 1, 2023 (planned)
2) Method of Company Split
Nihon Kohden OrangeMed, Inc., whose name will be changed to Nihon Kohden North America, Inc.
on October 1, 2023, is a split company, and will transfer its ventilator business to a spin-off company
named Nihon Kohden OrangeMed, LLC.
(3) Outline of Companies
Split company
Nihon Kohden OrangeMed, Inc.
(1) Name

Spin-off company
Nihon Kohden OrangeMed, LLC(planned to change its name to Nihon
Kohden North America, Inc. as ofOctober 1, 2023)(2) Location

California, U.S.A

California, U.S.A(3) Name and title ofPresident, Eiichi Tanaka

President, Hong-Lin Du

representative(Nihon Kohden’s director)(4) Business

Management control for subsidiaries

R&D, production, and sales ofin the U.S.

ventilators(planned as of October 1, 2023)$83 million (¥10,790 million)(5) Capital$21 million (¥2,730 million)* Based on an exchange rate of 130 yen * Based on an exchange rate of 130 yen
to the U.S. dollar.

to the U.S. dollar.

(6) Date of establishment April 2015

June 2023(7) Fiscal term

MarchMarch(8) Major shareholders

100% held by Nihon Kohden

100% held by Nihon Kohden North(capital contribution) Corporation
America, Inc.
* A spin-off company, Nihon Kohden OrangeMed, LLC, will become a specified sub-subsidiary of Nihon
Kohden as its capital will be equivalent to 10% or more of Nihon Kohden’s capital.

2

3. Effect on Operating Results of Nihon Kohden
The effect of this reorganization on the consolidated results for the fiscal year ending March 31, 2024 will
be minor.
Corporate Structure Based on Voting Rights (%) as of April 1, 2023
Nihon Kohden Corporation
100%

Nihon Kohden OrangeMed, Inc.
Holding company
100%

Nihon Kohden America,LLC
Sales

R&D, Production, Sales

100%

100%

Defibtech, LLC

Neurotronics, LLC

R&D, Production, Sales

R&D

100%

100%

Nihon Kohden Digital
Health Solutions, LLC
R&D

Nihon Kohden
Innovation Center, LLC
R&D

100%
Advanced M edical Predictive
Devices, Diagnostics andDisplays, LLC

R&D

Corporate Structure Based on Voting Rights (%) as of October 1, 2023
Nihon Kohden Corporation
100%

Nihon Kohden North America, Inc.
Holding company
100%

Nihon Kohden America,LLC
Sales

100%

100%

Defibtech, LLC

Neurotronics, LLC

R&D, Production, Sales

R&D

100%

Nihon Kohden
OrangeMed, LLC
R&D, Production, Sales

100%

Nihon Kohden Digital
Health Solutions, LLC
R&D
100%
Advanced M edical Predictive
Devices, Diagnostics andDisplays, LLC

R&D

3100%

Nihon Kohden
Innovation Center, LLC
R&D