We are pleased to announce Nissha Co., Ltd.’s consolidated subsidiary, Nissha Medical Technologies (hereinafter, “NMT”), operating as the Medical Technologies Business Unit (MTBU) of Nissha, has signed a definitive agreement with Olympus Surgical Technologies America (hereinafter, “OSTA”), an Olympus Group company, to acquire Olympus Group’s Norwalk, Ohio medical manufacturing operation. The acquisition is scheduled to be completed in the 4th quarter 2020.

Nissha Medical Technologies serves the medical device sector of Nissha through three unique divisions; Design & Manufacturing for Medical Device contract manufacturing and development, Healthcare Solutions for direct to hospital patient monitoring supplies and surgical consumables, and Custom Labeled Products for large volume private labeling opportunities.

NMT Design & Manufacturing division is the globally trusted partner in the Design and Manufacturing of single use medical technologies with a streamlined process combining decades of experience to deliver high quality medical products for OEMs like OSTA. NMT leverages innovative technologies across our global footprint of unique capabilities to efficiently meet our customer’s demanding specifications and timelines.

This strategic acquisition provides value to all NMT OEM customers through increased vertical integration for our global manufacturing services. This agreement further enhances NMT design services and manufacturing capabilities related to machined components, increased production capacity in North America to support NMT global growth and operations.

The acquisition consists of the Norwalk, OH manufacturing operations, currently manufacturing rigid scopes for urology and gynecology, and components for therapeutic devices.

Along with the acquisition of the assets in Norwalk, we have secured an agreement to move additional production lines from other OSTA facilities into NMT facilities. This also includes the joint participation in other design, development and manufacturing projects with OSTA.

The impact of this transaction on the Company’s consolidated results for the current fiscal year is expected to be negligible. Going forward, if revisions to business forecasts or the announcement of other matters become necessary, we will make prompt disclosure of the same.