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Nissha Completes Half of Its Vietnam Medical-Device Exit, Keeps a 10% Tail Through 2028

Nissha has handed over half its 60% stake in Vietnamese subsidiary USM HEALTHCARE MEDICAL DEVICES FACTORY to a company director, pulling the unit out of consolidation, while the remaining 10% stays on its books for a planned sale between 2027 and 2028, with the resulting gain or loss still under review.

By Tokyo Brief DeskSep 17, 20261 min readNissha Co., Ltd.7915
Illustration of a medical-device factory production line paired with a bar diagram showing an ownership stake shrinking in stages.

Nissha said on September 17 that it had completed the transfer of 14,134,064 shares, 50% of USM HEALTHCARE MEDICAL DEVICES FACTORY JOINT STOCK COMPANY, to VÕ XUÂN BỘI LÂM, a director of the Vietnamese medical-device maker. The sale executes part of a share transfer agreement Nissha signed on September 4 covering its entire 60% stake in USM, or 16,960,877 shares.

With the 50% tranche now handed over, USM drops out of Nissha's consolidated group. Nissha keeps the remaining 2,826,813 shares, 10% of USM, and has scheduled their sale for a window between mid-September 2027 and mid-September 2028.

Nissha's Stake in USM Healthcare
Based on Nissha's September 17, 2026 TDnet disclosure.
StageSharesStakeTiming
Before transfer16,960,87760%Prior holding
Transferred to USM director14,134,06450%Completed September 17, 2026
Remaining Nissha stake2,826,81310%Sale planned mid-September 2027 to mid-September 2028

The financial tail is still open. Nissha expects to book a gain or loss on the sale of affiliate shares in both its standalone and consolidated accounts for the fiscal year ending December 2026, but the amount is under review. The company also has not yet determined whether the deal changes its full-year consolidated earnings forecast, saying it will disclose both figures once they are finalized.

For now, the concrete change is structural rather than financial: a Vietnamese medical-device factory that used to sit inside Nissha's group accounts no longer does, and a smaller residual stake will keep the exit on Nissha's books for up to two more years.