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 FY2024, we held one in-person meeting and two online meetings and approx. 5,250 people attended and viewed the meeting.
 

Number of Dialogues with Individual Investors in FY2024

• Number of responses to annual shareholder survey (Postcard/WEB): 321
• Company briefings for individual investors (3 sessions):
  Live viewing: Approx. 480 viewers,
  In-person: Approx. 65 attendees,
  On-demand viewing: Approx. 4,700 viewers
• Nihon Kohden’s introduction video series for individual investors: Approx. 1,950 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 new reagent factory in India in the shareholder newsletter for the 1^st half of FY2024 and reported on the progress of its Three-year Business Plan and the consolidation of Ad-Tech as a subsidiary in the FY2024 shareholder newsletter. In March 2025, the Company also held an AED training session and product tour for individual shareholders.

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 2025, we exhibited an autoshock AED, a defibrillator for hospitals, a mid-to low-end bedside monitor, dashboard software for monitoring patient condition, and clinical assistant service for small and mid-sized hospitals. 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 December 2024, the Company also held a small meeting about Ad-Tech, which the Company consolidated as a subsidiary in November 2024, in a hybrid manner aiming at realizing constructive dialogue.

• Meetings with institutional investors and securities analysts in FY2024:
  Approx. 430 meetings including approx. 170 meetings with shareholders
   
• Main speakers: President and CEO, Corporate Director/Executive Operating Officer, Operating Officers, 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 which started from FY2024, capital policies including investment for growth such as M&A and shareholder returns, and initiatives to strengthen corporate governance and embrace sustainability
   
• The Company's initiatives in response to investors' feedback from the dialogues: Implementation of its Three-year Business Plan and enhancing disclosure on the progress, making investments for growth and share buybacks in line with its capital policy and cash allocation policy, holding a meeting about Ad-Tech in the U.S., introducing an Employee Stock Ownership Plan, implementing and monitoring recurrence prevention measures in response to the compliance matter, enhancing sustainability information disclosure including assessment of business impact based on the TCFD recommendations, enhancing IR information disclosure, and strengthening its governance such as ensuring the independence and diversity of the Board.