The final and only cut is to Uke‘s wrist.

Uke engages in a menuchi cut while Nage slides off the line of attack all the while keeping his bokutou in front of him. As Uke cuts, Nage too cuts his wrist at the same time.

Point: Nage doesn’t have to raise his ken to jyodan-gamae; he can lift it partway so as to keep it as a shield.