Conclusion of Capital and Business Alliance Agreement with iCARE for Better Health for Employees~ Aiming to Create Data-Based Health Management Solutions ~

• July 03, 2024

OMRON Corporation (HQ: Shimogyo-ku, Kyoto. President and CEO: Junta Tsujinaga; hereinafter OMRON) announced today that it has begun a capital and business alliance with iCARE Inc.
We are pleased to announce that we have acquired shares in iCARE Co., Ltd. (HQ: Shibuya-ku, Tokyo; Representative Director and CEO: Yota Yamada; hereinafter iCARE) and started a capital and business alliance. On July 2, 2024, OMRON acquired 30%^* of the shares in iCARE through transfer from an existing shareholder, a venture capital firm. The management of iCARE will continue to hold the shares without transferring them. OMRON also plans to dispatch one outside director to iCARE to facilitate the alliance.

■Background and Purpose of the Capital and Business Alliance
As Japan faces serious challenges such as shortage of human resources and workers due to the declining and aging population, it has become imperative for companies to take strategic measures towards employee health management to achieve sustainable growth. Companies are now aware that improving employee health and providing a comfortable work environment are key to maximizing employee value and higher retention rates.　In recent years, the use of technology, the sharing of success stories, and the dissemination of best practices have advanced, and health management is being pursued by many companies regardless of their size.

By strengthening the cooperative relationship between the two companies through this alliance, OMRON will create a solution business in the field of health management by linking and analyzing a wide range of data using the OMRON Group's user assets in the leading healthcare domain in Japan and iCARE's data and networks in the field of industrial health.

With the goal of "creating health for workers around the world", iCARE supports the creation of healthy organizations by utilizing employee health data through industrial health and health management solution services for corporations. By utilizing the expertise in the field of industrial health, such as the operating know-how of health management cloud systems cultivated since the company's founding and the human network with industrial physicians and industrial health nurses, OMRON aims to create a virtuous cycle in which workers, organizations, and society become healthy.

In December 2023, the OMRON Group established the Data Solution Business Headquarters to advance the entire Group from manufacturing to a solution business that utilizes data and lead the company to a new growth stage, with the aim of solving the three social issues set forth in its long term vision, SF2030: "achievement of carbon neutrality," "realization of a digital society, " and "extension of healthy life expectancy." The Corporate Health Business Division within the Business Headquarters will promote business development of healthcare services in the workplace. In addition, the alliance aims to revitalize the company through employee health and realize the sustainability of health insurance as an acceleration of the collaboration that has been promoted with JMDC, Inc. (HQ: Minato-ku, Tokyo; President and CEO: Ryo Noguchi; hereinafter JMDC), a group company.

By maximizing the strengths of both companies, OMRON aims to create innovative solutions in the field of healthcare management that utilize data.

■Details of the Capital and Business Alliance
1)Visualization of lost work opportunities and identification of organizational health issues based on data
2)Development and provision of services that deliver appropriate solutions through advanced organizational consulting and individual intervention by industrial physicians and occupational health nurses

Through these initiatives, we aim to support the decision-making of management and managers in health management and further expand the base of companies engaged in health management and investment.

*Fully diluted basis including dilutive shares (undiluted shareholding ratio: 32.8%)

About iCARE Inc.
Founded in 2011 by Yamada, an active industrial physician with the purpose of "creating health for workers around the world." As a professional company for health promotion, iCARE provides corporate customers with "Carely," a solution service for industrial health and health management. Certified as a Health Management Excellence Corporation 2024 (Large Corporate Sector).

Company name: iCARE Inc.
Representative Director and CEO: Yota Yamada
Address: Ebisu Square 5F, 1- 23-23 Ebisu, Shibuya-ku, Tokyo
Business: Development and provision of industrial health and health management solution services
URL: https://www.icare-carely.co.jp

About OMRON Corporation
OMRON Corporation is a leading automation company with its core competencies in Sensing & Control + Think technology, and is engaged in a wide range of businesses including industrial automation, healthcare, social systems, device & module solutions. The company transcends the value creation by leveraging diverse data acquired through these businesses and linking it to the data solutions business.

Established in 1933, OMRON has about 28,000 employees worldwide, working to provide products and services in more than 130 countries, contributing to the creation of a better society.

For more information, please visit https://www.OMRON.com/global/en/