Summary of Financial Results for the third quarter 2025

Note: This is an English translation of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Consolidated Financial Statements

for the Third Quarter of the fiscal year ending of March 31, 2025

〔Under Japanese GAAP〕

February 10, 2025

Registered Company Name: V-TechnologyCo., Ltd.

Code Number: 7717, Tokyo Stock Exchange

URL: https://www.vtec.co.jp

Representative: Shigeto Sugimoto (President & CEO)

Contact: Shogo Yoshimura (Leader of IR Group, Office of the President) TEL: 045-338-1980

Supplementary materials for the financial statements: Yes

Briefing session on financial results: None

(Amounts less than one million yen have been omitted.)

1. Business Performance(April 1, 2024 through December 31, 2024)

1. Consolidated Results of Operations

Note: Revision of dividend forecast from the most recently announced dividend forecast is None.

3. Forecast for the Fiscal Year ending March 31, 2024 (April 1, 2024 through March 31, 2025)

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1. Qualitative Information on Quarterly Results

（１）Explanation of Business Results

During the third quarter of the current fiscal year, the economic outlook remained uncertain due to concerns about the impact of the tense situation in the Middle East and the U.S. presidential election.

In the United States, the economy remained generally strong, supported by strong consumer spending. In China, economic stimulus measures were announced in both fiscal and monetary policy in response to the prolonged slump in domestic demand. In Europe, monetary easing progressed amid a slump in the economy, particularly in the major countries that make up the EU.

In Japan, the economy recovered gradually amid generally strong capital investment.

As for the consolidated business results of V Technology group (herein after “the group” or “the company”) for the the third quarter of the current fiscal year, net sales amounted to 31,824 million yen (19,103 million in same period last year, hereinafter figures in brackets() refer to the same period of the previous year), and operating profit amounted to 56 million yen (operating loss 2,077 million), Ordinary profit was 194 million(ordinary loss 1,900 million yen), Net profit attributable to owners of the parent amounted to 53 million(net loss of 1,387 million yen).

Orders received by the Group in the the third quarter of the current fiscal year totaled 26,462 million yen(27,190 million yen ). As a result, the order backlog at the the third quarter of the current fiscal year under review amounted to 31,737 million yen (44,734 million yen).

Segment results are as follows.

(FPD Equipment Business)

In the flat panel display (FPD) equipment business, panel market conditions recovered slightly and capital investment was generally in line with plans. Under these circumstances, orders received in the Group's FPD equipment business during the the third quarter of the current fiscal year totaled 12,995 million yen (15,684 million yen), with an order backlog of 10,586 million yen (26,571 million yen), net sales amounted to 22,308 million yen (11,017 million yen), and operating profit was 3 million yen (operating loss 862 million yen).

(Semiconductor and Photomask Equipment Business)

In the semiconductor and photomask equipment business, capital investment related to our group generally progressed as planned. Under these circumstances, orders received by the Group in the semiconductor and photomask equipment business during the the third quarter of the current fiscal year totaled 12,412 million yen (10,747 million yen), and the order backlog totaled 21,151 million yen (18,162 million yen), net sales amounted to 8,461 million yen (7,328 million yen), and operating profit was 325 million yen (operating loss 1,017 million yen).

1. Explanation of Financial Condition Condition of Assets, Liabilities & Net assets
   (Assets)
   Total assets at the end of the the third quarter of the current fiscal year decreased by 144 million yen from the end of the last last fiscal year to 75,461 million yen. This was mainly due to an increase in “Cash and deposits” of 3,099 million yen, and a decrease in "Notes and accounts receivable" of 4,534 million yen.

(Liabilities)

Total liabilities at the end of the the third quarter of the current fiscal year increased by 1,194 million yen from the end of the last last fiscal year to 42,161 million yen. This was mainly due to an increase of 4,870 million yen in “Long-term borrowings”, and a decreases of 3,192 million yen in "Long-term loans payable due within one year “.

(Net assets)

Net assets decreased by 1,339 million yen from the end of the last fiscal year to 33,300 million yen. This was mainly due to a decrease of 641 million yen in "Retained earnings " including 467 million yen in”Acquisition of treasury stock “.

(3) Explanation of Forward-Looking Statements

As a result of taking into account the results for the Third Quarter of the current fiscal year under review and future trends, there are currently no changes to the forecast for the year ending 31 March 2025 from the forecast in the 'Summary of financial results for the year ended 13 May 2024'.

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2．Consolidated Financial Statements and Major Notes

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（3） Notes to the third quarter of Consolidated Financial Statements

The quarterly consolidated financial statements have been prepared in accordance with Article 4, Paragraph 1 of the Tokyo Stock Exchange's ‘Rules for the Preparation of Quarterly Financial Statements’ and the accounting standards for quarterly financial statements generally accepted in Japan (however, the omission of statements stipulated in Article 4, Paragraph 2 of the ‘Rules for the Preparation of Quarterly Financial Statements’ has been applied).

Application of ‘Accounting Standards for Corporate Tax, Local Tax and Business Tax, etc.’

The Accounting Standard for Corporate, Inhabitant and Business Taxes (ASBJ Statement No. 27, 28 October 2022; hereafter 'the 2022 Revised Accounting Standard') has been adopted. Hereafter referred to as the 'Revised 2022 Accounting Standard'). and others have been applied from the beginning of the the third quarter of the current financial year.

With regard to amendments to the classification of income taxes (taxation on other comprehensive income), the transitional treatment stipulated in the proviso of paragraph 20-3 of the Revised Accounting Standard 2022 and the 'Guidance on Accounting Standard for Tax Effect Accounting' (ASBJ Guidance No. 28, 28 October 2022; hereinafter 'Guidance on Accounting Standard 2022') were applied. Hereinafter referred to as the '2022 Revised Application Guidelines'). The transitional treatment stipulated in the proviso of paragraph 65-2 (2) is followed. This has no impact on the quarterly consolidated financial statements.

With regard to amendments relating to the revised treatment in the consolidated financial statements of the deferral for tax purposes of gains or losses on the sale of shares in subsidiaries and other assets arising on the sale of shares in subsidiaries between consolidated companies, the revised 2022 Application Guidance has been applied from the beginning of the the third quarter of the current financial year. The change in accounting policy has been applied retrospectively and the quarterly consolidated financial statements and consolidated financial statements for the previous year's quarter and the previous financial year have been applied retrospectively.

The change has no impact on the quarterly consolidated financial statements for the previous year's quarter and the consolidated financial statements for the previous financial year.

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Note

*1. "Other" is a business segment that is not included in the reportable segments and includes OLED lighting and agriculture business.

*2. "Adjustment" refers to elimination of intersegment transactions.

*3. Segment income (loss) is adjusted with operating income in the consolidated financial statements.

Note

*1. "Other" is a business segment that is not included in the reportable segments and includes OLED lighting and agriculture business.

*2. "Adjustment" refers to elimination of intersegment transactions.

*3. Segment income (loss) is adjusted with operating income in the consolidated financial statements.

In accordance with a resolution passed at a meeting of the Board of Directors held on 9 August 2024, the Company resolved to acquire treasury stock in accordance with the provisions of Article 156 of the Companies Act, as applied pursuant to Article 165-3 of the same act, and acquired treasury stock in the current interim consolidated accounting period.

As a result, treasury stock increased by 499 million yen in the third quarter of the current consolidated fiscal year of accounting period. In addition, it decreased by 32 million yen due to disposal by the stock delivery trust system.

As a result of the above, treasury stock was 2,479 million yen at the end of the third quarter of the current consolidated fiscal year of accounting period.

None

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