Announcement of the Absorption-Type Merger of Consolidated Subsidiaries

July 30, 2025

V Technology Co., Ltd. (hereinafter the "Company," together with its subsidiaries, the "Group"), hereby announces that it has resolved, at a meeting of the Board of Directors held today, to conduct an absorption-type merger (hereinafter the "Merger") of VET Co., Ltd. (hereinafter "VET") as the surviving company and Lumiotec Inc. (hereinafter "Lumiotec") as the disappearing company which are both wholly owned subsidiaries of the Company.

Please note that, given that the Merger is a simplified absorption-type merger of consolidated subsidiaries wholly owned by the Company, some of the content and details for disclosure have been abbreviated.

1. Purpose of the Merger

   The Company aims to enhance and streamline management efficiency of the Group, boost the business competitiveness and maximally increase synergies of companies involved in the Merger.

2. Summary of the Merger

   1. Schedule of the Merger

      Date of resolution at the meeting of the Board of Directors of the Company:	July 30, 2025
      Date of resolution at the meeting of the Board of Directors of companies involved in the Merger:	July 31, 2025
      Date of conclusion of the Merger agreement between VET and Lumiotec:	July 31, 2025
      Meeting of Shareholders to approve the Merger agreement in Lumiotec	August 18, 2025
      Effective date of the Merger:	October 1, 2025

      Note: Disappearing company, VET will not seek shareholder approval for the Merger because this is a simplified merger pursuant to Article 796, Paragraph 2 of the Companies Act.

   2. Method of the Merger

      The Merger will be conducted as a simplified absorption-type merger in which VET will be the surviving company and Lumiotec will be the disappearing company.

   3. Details of allotment related to the Merger

      The Merger will be conducted between consolidated subsidiaries wholly owned by the Company, and there will be no allotment of shares, money, etc. as a result of the Merger.

   4. Handling of share acquisition rights and bonds with share acquisition rights in connection with the Merger Not applicable.

3. Overview of companies involved in the Merger

   	Surviving Company	Disappearing Company
   (1) Name	VET Co., Ltd.	Lumiotec Inc.
   (2) Location	134, Good-cho, Hodogaya-ku, Yokohama, Kanagawa, Japan	4-2837-9 Hachimanpara, Yonezawa, Yamagata, Japan
   (3) Job title and name of representative	Kazuhito Tennichi, Representative Director	Hiroyuki Mashiko, Representative Director
   (4) Description of business	Development, manufacturing and sales of evaporation mask	Development, manufacturing and sales of lighting fixtures using organic electro-luminescence
   (5) Paid-in capital	490 million yen	100 million yen
   (6) Foundation	December 1, 2017	May 28, 2008
   (7) Number of issued shares	980 shares	2,135,126,980 shares
   (8) Fiscal year end	March 31	March 31
   (9) Major shareholders and ownership ratios	V Technology Co., Ltd. 100%	V Technology Co., Ltd. 100%

4. Status of the Company after the Merger

   (1) Name	VET Co., Ltd.
   (2) Location	134, Good-cho, Hodogaya-ku, Yokohama, Kanagawa, Japan
   (3) Job title and name of representative	Kazuhito Tennishi, Representative Director
   (4) Description of business	Development, manufacturing and sales of evaporation mask
   (5) Paid-in capital	490 million yen
   (6) Fiscal year end	March 31
   (7) Major shareholders and ownership ratios	V Technology Co., Ltd. 100%

5. Future outlook

The Merger will be conducted between consolidated subsidiaries wholly owned by the Company, and the impact on the Company's consolidated financial results is expected to be immaterial.