【News】Notice of Completion Regarding Establishment of a Subsidiary in the United States

As announced in the release on July 26, 2016, CYBERDYNE, INC. (the “Company”) has been working on establishing a subsidiary in the United States, and both the incorporation procedure in the State of Delaware and the foreign registration procedure in the State of Washington are now complete.

I. Outline of the subsidiary in U.S.

1. Name: CYBERDYNE USA INC.
2. Domicile: Delaware, United States of America (Incorporation)
                  Seattle, Washington, United States of America (Primary place of activity)
3. The name and title of the president: Prof. Dr. Yoshiyuki Sankai (President and CEO)
4. Major business line: Management and acceleration of CYBERDYNE, INC.’s business
                                  activities within the U.S.
5. Capital: USD 100,000 (Approx. JPY 10,200,000)
6. Date of establishment: August 11, 2016 (State of Delaware) 
     *Foreign registration in the State of Washington will be effective September 1, 2016
7. Shareholders and shareholding ratio: Wholly owned subsidiary of CYBERDYNE, INC.

II. Purpose of establishing a subsidiary in the U.S. (Released on July 26)

In anticipation of obtaining medical device approval for HAL for Medical Use (Lower Limb Type) by the U.S. Food and Drug Administration (“FDA”), the Company will establish CYBERDYNE USA Inc. (“the U.S. Subsidiary”) to act as a strategic base for the Company’s business in the U.S. as well as for the acceleration of global development. This will allow the Company and its subsidiaries (the “Group”) to structure a system based around Japan, Europe and the U.S. to accelerate their business worldwide. Through the U.S. Subsidiary, the Company will spread its innovative products and services within the U.S., known to be the world’s largest market for medicine, welfare and living support, the three fields that the Company currently focuses on. Furthermore, by establishing a subsidiary in a country where many cutting-edge medical, IT and other technologies are gathered and continuously developed, the Company will establish many collaborations with various business partners, increase its presence as pioneers of developing innovative technologies for solving social issues, and accelerate its expansion to other countries of the globe. The U.S. Subsidiary incorporated in Delaware will start its business activities at Seattle, Washington.

 (Reference) 

Release on July 26