Takeaways from medical market strategy briefing

Research evidence excerpt

Takeaways from medical market strategy briefing

Global Markets Research

7 July 2026Nissha

7915.T 7915 JP / EQUITY: JAPAN ELECTRONIC PARTS

RatingTakeaways from medical market strategy briefing Neutral

Target price JPY 1,430Quick Note

Closing price

6 July 2026 JPY 1,336Ten years since entry into the medical market, medical business now has a larger

presence within Nissha (Note: Quick Note reports are not a

At 10:00am JST on 7 July, Nissha held a management briefing to discuss its moves vehicle for changes to ratings, target

toward reinforcing and rationalizing its business portfolio and an update on its medical prices, or earnings forecasts)

device CDMO business. Nissha entered the medical equipment business with the

acquisition of US company Graphic Controls in September 2016, and has been holding

briefings on its medical operations since 2018.

We identify the following four main changes since the previous briefing (in June 2025). Research Analysts

Japan pharmaceuticals & 1. For the direction of the medical device CDMO (contract development and

healthcare manufacturing) business, rather than discussing medical fields, management

Takahiro Mori - NSC discussed Nissha's strengths—miniaturizing surgical and diagnostic instruments and

takahiro.mori@nomura.com

improving their operability, leveraging the company's mold-forming and metalworking +81 3 6703 1227

technologies—making it easier to envision the areas where the company can shine

Japan chemicals & textiles going forward.

Daiki Ban - NSC

2. As Nissha's global production sites, including the industrial materials segment's plants daiki.ban@nomura.com

in China and Malaysia and the devices segment's Vietnam plant, work together +81 3 6703 1124