Nihon Kohden : Notice regarding Recording of Extraordinary Income due to Revision of Retirement Benefit Plan
March 26, 2024 at 06:06 am
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These documents have been translated from Japanese originals for reference purposes only. In the event of any discrepancy between these translated documents and the Japanese originals, the originals shall prevail.
March 26, 2024
NIHON KOHDEN CORPORATION (6849)
Stock Exchange Listing:
Prime Market, Tokyo Stock Exchange
Head Office:
Tokyo
Representative:
Hirokazu Ogino, Representative Director, President
Contact:
Fumio Izumida, Operating Officer, General Manager, Corporate Strategy Division
Phone: +81 / 3-5996-8003
Notice regarding Recording of Extraordinary Income due to Revision of Retirement Benefit Plan
Nihon Kohden hereby announces that extraordinary income (gain on revision of retirement benefit plan) is expected to be recorded in the 4th quarter of the fiscal year ending March 31, 2024 (April 1, 2023 to March
31, 2024).
1. Details of Extraordinary Income (Gain on Revision of Retirement Benefit Plan)
Nihon Kohden and a part of consolidated subsidiaries of the Company have revised its retirement benefit plan as of March 1, 2024, in accordance with the transition to a new personnel system in April 2023. The Company plans to apply the "Guidance on Accounting for Transfer between Retirement Benefit Plans" (ASBJ Guidance No. 1) and the "Practical Solution on Accounting for Transfer between Retirement Benefit Plans" (ASBJ PITF No. 2) for the accounting treatment associated with the revision of the retirement benefit plan. In FY2023 ending March 31, 2024, the Company will record a gain on revision of retirement benefit plan of 4 billion yen as an extraordinary income.
2. Purpose of Revision of Retirement Benefit Plan
Under its new personnel system, the Company will create opportunities for ambitious and skilled employees to actively take on challenges and grow themselves through a role grading system based on the size of the work roles expected of each employee. In line with the transition to the new personnel system which aims to fairly treat employees for their roles and contributions, the Company has revised its retirement benefit plan to extend the retirement age to 65 years old (raising the retirement age by one year each year).
3. Impact on Business Performance
The recording of extraordinary income (gain on revision of retirement benefit plan) is not incorporated in its Consolidated Forecasts for FY2023 (From April 1, 2023 to March 31, 2024) in the Consolidated Financial Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2024, announced on February 2, 2024. The Company will immediately announce revisions to its forecasts if necessary.
*The above estimates are based on information available on the date of this report's announcement. Actual amounts may differ from such estimates due to unforeseen circumstances.
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NIHON KOHDEN CORPORATION is a Japan-based company engaged in the research, development, manufacture and sale of medical electronic equipment, as well as the provision of maintenance and repair services. The Company mainly operates medical electronics related business. The Company offers electroencephalograph, electromyographic, evoked potential testing equipment, electrocardiographs, cardiac catheterization equipment, diagnostic information systems and related consumables (paper, electrodes, catheters and others), biological information monitors, clinical information systems, artificial respiration, artificial ear, hemocytometer, ultrasonic diagnostic equipment, research equipment and transformers, among others. The Company is also engaged in the sales promotion for its products, as well as the general affair-related and manpower dispatching businesses.