Constructive Dialogue with Shareholders and Investors

We hold Company briefings for individual investors so that they can see our management strategy and business operations and extend their long-term support.
In FY2025, we held a total of three meetings including one in-person meeting and two online meetings and approx. 5,300 people attended and viewed the meeting.
 

Number of Dialogues with Individual Investors in FY2025

• Number of responses to annual shareholder survey (Postcard/WEB): 331
• Company briefings for individual investors (3 sessions):
  Live viewing: Approx. 1,045 viewers,
  In-person: Approx. 40 attendees,
  On-demand viewing: Approx. 4,200 viewers
• Nihon Kohden’s introduction video series for individual investors: Approx. 1,100 views

The shareholder newsletter is published twice annually and contains information on performance, dividend, new products and other pertinent topics. In terms of dialogue with individual shareholders, the Company conducts a shareholder survey every year and uses feedback from shareholders as a reference for our future IR activities. The Company introduced new products and the newly established subsidiaries in Saudi Arabia and India in the shareholder newsletter for the 1^st half of FY2025 and reported on the progress of its Three-year Business Plan, new products, and the consolidation of DOWELL, Co. Ltd. as a subsidiary, and the start of operations at the Tsurugashima Production Center in the FY2025 shareholder newsletter.

We hold our general shareholders’ meeting on a date that does not conflict with those of other companies to ensure that shareholders can attend. On the day of the meeting, we exhibit medical devices and explain the features to shareholders. At the shareholders’ meeting held in June 2026, we exhibited a ventilator, a telemetry system, transmitters, on-site alarm analytics software, admission and discharge management software, as well as SEEG electrodes^*. We have posted a video of the presentation by the Chairman on the day on our website. For foreign shareholders, convocation notices, notice of resolutions, and voting results are translated into English and posted on the external website.

The President, general manager of the Corporate Strategy Division, and persons in charge of IR have meetings with institutional investors in Japan and overseas by making periodic visits to investors, accepting visits as requested, and by phone. The Company holds briefings in a hybrid manner of in-person and online to explain financial results to institutional investors and analysts, at which the speaker is the president, in the 2^nd quarter and 4^th quarter, as well as holding online conference, at which the speaker is the general manager of the Corporate Strategy Division, in the 1^st quarter and 3^rd quarter. Videos of the presentations, materials, and Q&A summaries are posted on our website and made available to all shareholders and investors. In March 2026, the Company also held a meeting about Digital Health Solution (DHS) Vision in an online manner . Business leaders in Japan and North America explained the progress of the DHS Vision toward realizing our Long-term Vision.

• Meetings with institutional investors and securities analysts in FY2025:
  Approx. 425 meetings including approx. 160 meetings with shareholders
   
• Main speakers: President and CEO, Corporate Director/Executive Operating Officer, Operating Officers, President of overseas subsidiary, General Manager of the Corporate Strategy Division, and persons in charge of IR
   
• Number of meetings with shareholders and institutional investors

• Topics of the dialogues: Quarterly financial results and forecasts, mid-to long-term growth strategies including the progress of the Company’s Three-year Business Plan, capital policies including investment for growth such as M&A and shareholder returns, the review of business portfolio, and initiatives to strengthen corporate governance and embrace sustainability, the enhancement of IR activities and information disclosure
   
• The Company’s initiatives in response to investors’ feedback from the dialogues: Changing in format and schedule advancement for earing briefings (online conference), implementing its Three-year Business Plan and enhancing disclosure on the progress as well as quarterly results and sales by regions, making investments for growth and share buybacks in line with its capital policy and cash allocation policy, the discontinuation of providing Abbott products, implementing Career Change Support Program and Next Career Support Program, acquiring shares of DOWELL, Co. Ltd., holding a meeting about digital health solutions, implementing and monitoring recurrence prevention measures in response to the compliance matter, enhancing sustainability information disclosure, and strengthening its governance such as ensuring the independence and diversity of the Board.