Press Release

NSK invests in Israel-based SoftWheel Ltd.

NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Toshihiro Uchiyama) has invested in SoftWheel Ltd. (Headquarters: Tel Aviv, Israel; CEO: Daniel Barel), a pioneer in in-wheel suspension systems.

This investment reflects NSK Corporate Philosophy to contribute to a safer, smoother society and help protect the global environment through innovative technology integrating Motion & Control™. Following its investment in and collaboration with WHILL Inc. (Headquarters: California, USA; CEO: Satoshi Sugie), NSK's investment in SoftWheel serves to further increase its involvement in the personal mobility industry. It is our vision to set the future in motion by combining our advanced technical know-how cultivated over our long history with the groundbreaking technical innovations of startup companies like SoftWheel.

About SoftWheel Products

The SoftWheel, which incorporates the company's In-wheel Suspension™ system, was invented to improve personal transportation and enable energy savings in urban transportation. The system absorbs shock only when it encounters obstacles such as potholes, stairs, or unpaved terrain. The technology promises a comfortable, smooth, and user friendly experience in wheelchairs, bicycles, and cars.

As the rapid growth of bicycle sharing programs continues in big cities around the world, the SoftWheel is positioned to help these programs by substantially reducing their maintenance and replacement costs by extending the average life of the bicycles and wheels. Further, the SoftWheel significantly reduces the typical drawback of non-air solid tires, which are typically harder and less comfortable, eliminating flat tire problems without losing a smooth and comfortable riding experience. The potential cumulative benefits offered by SoftWheel products can completely change the landscape of bicycle sharing programs.

About SoftWheel Ltd.

SoftWheel was founded in 2011 with the task of reinventing the wheel. The company operates successfully throughout North America and Europe where it sells its products in the personal transportation sector. The company is currently undergoing significant expansion around the world with an emphasis on the cooperative transport market, and is also engaging in extensive development aimed at the automotive market and other markets.

About NSK Ltd.

In 1916, NSK became the first company in Japan to develop and manufacture bearings, and has continued to create revolutionary technology and products ever since. During it's over 100 years of business operations, NSK has actively contributed to worldwide industrial development and the preservation of the environment.