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2021-12-21 updated

【IR News】Establishment of a subsidiary in Malaysia

The Board of Directors of CYBERDYNE has resolved to establish a subsidiary in Malaysia at a meeting held on December 21, 2021, as follows.

1. Purpose of establishing the subsidiary
CYBERDYNE announces to establish CYBERDYNE MALAYSIA (tentative name, from now on referred to as the “Malaysian Subsidiary” as a base for business promotion in Asia Pacific. Since 2018, the Company has developed its business in the Asia Pacific, and the introduction of HAL has progressed in seven countries/regions. Especially in Malaysia, the Malaysian government has announced its intention to support the dissemination of HAL and Cybernics Treatment through collaboration with a company under the umbrella of the Social Security Organization (“SOCSO”), a public organization in Malaysia. Currently, in Malaysia, HAL is mainly operated in SOCSO rehabilitation centers, and the number of HALs in operation is second only to Japan. The Malaysian Subsidiary will utilize SOCSO’s network of public institutions outside Malaysia to conduct sales activities. This network has already led to the introduction of HAL in India, Indonesia, and other countries. As CYBERDYNE expects to continue the dissemination of Cybernics Treatment in the Asia Pacific region, CYBERDYNE has decided to transfer its Malaysian regional office into the Malaysian Subsidiary to strengthen its sales and after-sales service further.

2. Outline of subsidiary scheduled to be established

3. Prospect
The impact on the Company’s results of the fiscal year ending March 31, 2022, is minimal.

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