The mergers of HORIBA's subsidiaries in the U.S. and Brazil.

In January, 2012 HORIBA Ltd. announces the restructuring of the U.S. and Brazil's consolidated subsidiaries, including the merger of 4 U.S. subsidiaries to HORIBA International Corporation's affiliate, HORIBA Instruments Inc. which is expected to aggregate the business structure in the U.S.. This facilitates the business performance and provides further competitive edge in the sales in North America where is the largest analytical and measurement system's market.

On the top of, HORIBA International Incorporation has set to generate more profits by affiliating Brazil's subsidiary of HORIBA ABX SAS (France) which is currently the core firm in HORIBA's Medical-Diagnostic Instruments and Systems segment. HORIBA has been the industry leader in the sales of small and medium-sized blood cell counters in Brazil and accelerate the expansion of their business by promoting the sales of the reagent for clinical tests. In addition to the current success in the medical instruments field, the unification of Brazil and North America's business sets the foundation for the highly anticipated full-scale business expansion of Automotive Test Systems and Scientific Instruments and Systems segment in the near future.

1. Followings are the corporations associated with the merger of four consolidated subsidiaries in the U.S.
   • HORIBA Instruments Inc.
   • HORIBA ABX Inc.
   • HORIBA Jobin Yvon Inc.
   • HORIBA/STEC Inc.
2. Changes of consolidated subsidiaries' corporate names after the reorganization,
   • HORIBA Instruments Brasil, Ltda. (Former HORIBA ABX BRASIL )