Shares in Tekscend Photomask TSE:429A were untraded with a glut of buy orders in their Tokyo debut on Thursday.
Tekscend Photomask raised 138.9 billion yen ($920 million) after pricing its initial public offering at 3,000 yen per share at the top of the range.
Toppan Holdings TSE:7911 carved out the business three years ago with private equity firm Integral TSE:5842.
Tekscend Photomask manufactures photomasks used in chipmaking.
Tech stocks have been buoyant in Japan amid global enthusiasm for companies seen as benefiting from investment in artificial intelligence.
($1 = 150.9000 yen)