ARTICLES OF INCORPORATIONOFNAKANISHI INC.
(As revised on March 30, 2022)

Chapter 1. General Provisions(Trade name)
Article 1
The name of this corporation is called Kabushikigaisha Nakanishi, which is expressed in
English as Nakanishi Inc. (the “Company”).

(Purposes)
Article 2
The purposes of the Company are to engage in the following business activities:
1) Manufacture and sales of medical equipment and instruments
2) Export and import of medical equipment and instruments
3) Manufacture and sales of medical equipment and instruments for veterinary use4) Export and import of medical equipment and instruments for veterinary use
5) Manufacture and sales of industrial power equipment and instruments
6) Export and import of industrial power equipment and instruments
7) All other business activities incidental to the foregoing(Location of principal office)
Article 3
The principal office of the Company is located in Kanuma City, Tochigi Prefecture, Japan.

(Corporate organizations)
Article 4
In addition to general meetings of shareholders and Directors, the Company shall have thefollowing organizations or positions.
1) Board of Directors
2) Corporate Auditors
3) Board of Corporate Auditors4) Accounting Auditors

(Method of giving public notices)
Article 5
The method of public and other notices that the Company shall use is electronic publication.
However, when it is impossible to issue electronic notices because of accidents or any other
unforeseen cause, public notices of the Company shall be carried in the Nihon Keizai Shimbun.

Chapter 2 Shares of Stock(Total number of authorized shares)
Article 6
The total number of authorized shares of the Company shall be 375,000,000 shares.

(Acquisition of Company’s own shares)
Article 7
The Company may purchase its own shares, by resolution of the Board of Directors, pursuant tothe provisions of Article 165, Paragraph 2 of the Company Law of Japan.

(Number of shares constituting one unit)
Article 8
The number of shares constituting one unit (tangen) of shares of the Company shall be 100
shares.

(Restrictions on rights relating to shares of less than one unit)
Article 9
Any shareholders shall not be permitted to exercise any rights, other than those mentioned
below, in relation to shares of less than one unit that they hold:1) Rights mentioned in each item of Article 189, Paragraph 2 of the Company Law of Japan2) Rights to make any request in accordance with the provisions of Article 166, Paragraph 1of the Company Law of Japan.
3) Rights to receive allotment of share offerings and allotment of share purchase warrants inproportion to the number of shares held.

(Administrator of shareholders’ register)
Article 10
The Company shall have an administrator of its shareholders’ register.
2. The administrator of the shareholders’ register and the location of the handling of clerical
work shall be selected by means of a resolution by the Board of Directors.
3. The administrator of the shareholders’ register shall be entrusted with the preparation andcustody of the Company’s shareholders’ register and the registry of share options, as well asother clerical work relating to the shareholders’ register and registry of share options, which are
not handled by the Company.

(Regulations on handling of shares)
Article 11
In addition to regulations provided in laws, ordinances, or these Articles of Incorporation,
handling of matters and commissions relating to the shares of the Company shall be governedby the regulations for handling shares determined by the Board of Directors.

Chapter 3. General Meeting of Shareholders(Convening of a meeting of shareholders)
Article 12
An Annual General Meeting of Shareholders shall be convened in March every year, andExtraordinary General Meetings of Shareholders shall be convened as necessary.

(Record date of Annual General Meeting of Shareholders)
Article 13
The record date for the right to vote at the Company’s Annual General Meeting of Shareholders
shall be December 31 each year.

(Person who may convene the meeting and the chairman)
Article 14
The Chairman of the Board of Directors shall convene a General Meeting of Shareholders andassume the Chairmanship of a General Meeting of Shareholders.
2. When an accident befalls the Chairman of the Board of Directors, another Director shall act
as such chairman in the order fixed beforehand by the Board of Directors.

(Method of adopting resolutions)
Article 15
Unless otherwise provided by laws, ordinances, or these Articles of Incorporation, resolutions ofa General Meeting of Shareholders shall be adopted by the majority of the voting rights of theshareholders present.
2. Any resolution as provided for in Article 309, Paragraph 2 of the Company Law of Japan
shall be adopted at a General Meeting of Shareholders, at which shareholders holding one-thirdor more of the voting rights of all the shareholders that are able to exercise voting rights arepresent, by the majority of two-thirds or more of the voting rights of the shareholders present.

(Exercise of voting rights by proxy)
Article 16
A shareholder may exercise his/her voting rights by appointing one shareholder of the Company
that has the right to vote as a proxy.
2. In the above event, the shareholder or the proxy shall submit a document at each General
Meeting of Shareholders certifying the power of representation to the Company.

(Minutes of meeting)
Article 17The substance of the proceedings at a General Meeting of Shareholders and the results thereof,
as well as other matters required by applicable laws or ordinances, shall be stipulated orrecorded in minutes of the meeting.

(Electronic Provision System, etc.)
Article 18
On convening a General Meeting of Shareholders, the Company shall provide the contents of
the reference documents for the General Meeting of Shareholders in an electronic format.
2. Among the contents provided in an electronic format, the Company may exclude all or part ofmatters prescribed by the ministerial ordinances of the Ministry of Justice from the documentthat will be issued to shareholders who requested the issuance of such a document by the record
date for voting rights.

Chapter 4 Directors and Board of Directors(Number of Directors)
Article 19
The Company shall have no more than 10 Directors.

(Method of election)
Article 20
Directors of the Company shall be elected at a General Meeting of Shareholders.
2. Resolutions to elect Directors shall be adopted by a majority of the votes of the shareholders
present who hold not less than one-third of the voting rights held by shareholders entitled toexercise their voting rights.
3. Resolutions to elect Directors shall not be made by cumulative voting.

(Term of office)
Article 21
The term of office of Directors shall expire at the conclusion of the Annual General Meeting ofShareholders for the last business year ending within two (2) years after their election.
2. The term of office of any Director elected to fill a vacancy shall be the remainder of the termof office of the predecessor.

(Representative Directors and Directors with special titles)
Article 22
The Board of Directors shall elect a Representative Director from among the Directors bymeans of a resolution.
2. The Board of Directors, by means of its resolution, may select one Chairman and onePresident, as well as a number of Vice Presidents, Senior Managing Directors, ManagingDirectors, and Executive Advisors.

(Convener and Chairman of a meeting of the Board of Directors)
Article 23
Unless otherwise provided by laws or ordinances, the Chairman of the Board Directors shallconvene Board of Directors’ meetings and act as Chairman.
2. When an accident befalls the Chairman of the Board of Directors, another Director shallconvene meetings and act as Chairman, according to the order determined beforehand by theBoard of Directors.

(Convening of a meeting of Board of Directors)
Article 24
The convening of meetings mentioned in the previous Article shall be conducted by issuing a
notice of the meeting to each Director and Corporate Auditor at least three (3) days in advanceof the date set for the meeting; provided, however, that in case of urgency this period may be
shortened.
2. When all the Directors and Corporate Auditors agree, the meeting of the Board of Directors
may be held without performing the convening procedures.

(Resolutions of the Board of Directors)
Article 25
Resolutions of the Board of Directors require the presence of the majority of all Directors andshall be adopted by the majority of the Directors present.
2. Matters that require resolutions of the Board of Directors may be resolved without holding ameeting, provided that such matters meet the requirements set forth under Article 370 of theCompany Law of Japan, and this shall be effectively regarded as equivalent resolutions adopted
at a meeting of the Board of Directors.

(Minutes of meeting of Board of Directors)
Article 26
The substance of the proceedings at a meeting of the Board of Directors and the results thereof,
as well as other matters as required by applicable laws or ordinances, shall be recorded inminutes of the meeting, which shall bear the names and seals or electronic signatures of theChairman and all Directors and Corporate Auditors in attendance.

(Regulations of Board of Directors)
Article 27
Matters relating to the Board of Directors shall be governed by the regulations of the Board ofDirectors established by the Board of Directors, in addition to laws, ordinances, or these Articlesof Incorporation.

(Remuneration, etc.)
Article 28
Remuneration, bonuses, and other proprietary benefits provided by the Company for the dutiesof Directors shall be determined by a resolution of the General Meeting of Shareholders.

(Exemption of Directors from liability)
Article 29
The Company may, by a resolution of the Board of Directors, exempt Directors (includingformer Directors) from liability for damages, as provided in Article 423, Paragraph 1 of theCompany Law of Japan, so long as such damages were not caused by their grave negligence orlack of good will, to the extent as provided in applicable laws or ordinances.
2. Pursuant to the provisions of Article 423, Paragraph 1 of the Company Law of Japan, theCompany may execute agreements with Directors (excluding executive officers) that limit theliability for damages of such Directors; provided, however, that such damages were not causedby their grave negligence of lack of good will and that the limit of the liability under suchagreements shall be within the extent as provided in applicable laws or ordinances.

Chapter 5. Corporate Auditors and Board of Corporate Auditors（Corporate Officer）
Article 30
The Company may, by a resolution of the Board of Directors, appoint Corporate Officer(s) tohave the one(s) engage in business operations of the Company.
2. The affairs in regard to Corporate Officer(s) shall be defined in the Regulation of Corporate
Officer which is resolved at the Meeting of the Board of Directors.

(Number)
Article 31
The Company shall appoint no more than four (4) Corporate Auditors.

(Method of election)
Article 32
Corporate Auditors shall be elected at the General Meeting of Shareholders
2. A resolution to appoint a Corporate Auditor shall be made by the majority of voting rights ofshareholders present at a meeting attended by shareholders holding not less than one-third of thevoting rights of shareholders that can exercise their voting rights.

(Term of office)
Article 33
The term of office of Corporate Auditors shall expire at the conclusion of the Annual General
Meeting of Shareholders relating to the last business year within four (4) years after theirelection.
2. The term of office of any Corporate Auditor elected to fill a vacancy shall be the remainder of
the term of office of the predecessor.

(Full-time Corporate Auditors)
Article 34
The Board of Corporate Auditors shall, by its resolution, appoint from among the CorporateAuditors one or more full-time Corporate Auditors.

(Convening a meeting of the Board of Corporate Auditors)
Article 35
A notice to convene a meeting of the Board of Corporate Auditors shall be sent to each
Corporate Auditor at least three (3) days in advance of the date set for the meeting; provided,
however, that in case of urgency this period may be shortened.
2. When all the Corporate Auditors agree, the meeting of the Board of Corporate Auditors may
be held without performing the convening procedures.

(Resolutions of the Board of Corporate Auditors)
Article 36
Unless otherwise provided by laws or ordinances, resolutions of the Board of CorporateAuditors shall be adopted by the majority of the votes of Corporate Auditors.

(Minutes of meetings of the Board of Corporate Auditors)
Article 37
The substance of the proceedings at a meeting of the Board of Corporate Auditors and theresults thereof, as well as matters required by applicable laws or ordinances, shall be recorded inminutes of the meeting, which shall bear the names and seals or the electronic signatures of theCorporate Auditors in attendance.

(Regulations of Board of Corporate Auditors)
Article 38
Matters relating to the Board of Corporate Auditors shall be governed by the regulations of theBoard of Corporate Auditors established by the Board of Corporate Auditors, in addition to laws,ordinances, or these Articles of Incorporation.

(Remuneration, etc.)
Article 39
Remuneration, bonuses, and other proprietary benefits provided by the Company for the duties
of Corporate Auditors shall be determined by a resolution of the General Meeting ofShareholders.

(Exemption of Corporate Auditors from liability)
Article 40
The Company may, by a resolution of the Board of Directors, exempt Corporate Auditors(including former Corporate Auditors) from liability for damages, as provided in Article 423,
Paragraph 1 of the Company Law of Japan, so long as such damages were not caused by theirgrave negligence or lack of good will, to the extent as provided by applicable laws orordinances.
2. Pursuant to the provisions of Article 423, Paragraph 1 of the Company Law of Japan, theCompany may execute agreements with Corporate Auditors that limit the liability for damagesof such Corporate Auditors; provided, however, that such damages were not caused by theirgrave negligence of lack of good will and that the limit of the liability under such agreements
shall be within the extent as provided by applicable laws or ordinances.

Chapter 6. Accounting Auditors(Method of election)
Article 41
Accounting Auditors shall be elected at the General Meeting of Shareholders(Term of office)
Article 42
The term of office of Accounting Auditors shall expire at the conclusion of the Annual General
Meeting of Shareholders relating to the last business year within one (1) year after their election.
2. Unless otherwise resolved at the General Meeting of Shareholders in the preceding paragraph,
Accounting Auditors shall be deemed reelected at said shareholders’ meeting.

(Exemption of Accounting Auditor from liability)
Article 43
Pursuant to the provisions of Article 423, Paragraph 1 of the Company Law of Japan, theCompany may execute agreements with Accounting Auditors that limit the liability for damagesof the Accounting Auditors; provided, however, that such damages were not caused by theirgrave negligence of lack of good will and that the limit of the liability under such agreements
shall be within the extent as provided by applicable laws or ordinances.

Chapter 7. Accounting(Business year)
Article 44
The business year of the Company shall commence on January 1 each year and end on
December 31 of the following year.

(Record date of distribution of capital surplus)
Article 45
The record dates for the Company’s distribution of capital surplus shall be December 31 of eachyear.
2. Other than as provided in the preceding paragraph, a distribution of capital surplus may bemade by setting a record date.

(Interim dividends)
Article 46
The Company may, by resolution of the Board of Directors, pay interim dividends as of theclose of June 30 of each year.

(Expiration period for distribution of surplus)
Article 47
In the event that a distribution of surplus is made by cash and not received within three (3) years
from the commencement of payment thereof, the Company shall be relieved from the obligation
for the payment thereof.

(Bylaws)
The deletion of the current Article 18 (Disclosure of reference documents for theGeneral Meeting of Shareholders, etc. via the Internet) and the addition of Article 18(Electronic Provision System, etc.) in the proposed amendments shall become effectiveon the day of the enactment of the amended provisions set forth in Article 1 caveat of
the bylaws of the Act Partially Amending the Companies Act (No. 70, 2019).
2. Notwithstanding the foregoing, the current Article 18 (Disclosure of reference

documents for the General Meeting of Shareholders, etc. via the Internet) shall maintainits effect at shareholders’ meetings which take place within 6 months after theenactment date.
3. These bylaws shall be deleted on the later of 1) the date 6 months after the enactment

date or 2) 3 months after the shareholders’ meeting referred to in the previous section.