Inherited
ULVAC-Style

Message to OurReaders

About ULVACULVAC’s Vision

ULVAC’s Strategy

CorporateGovernance

Financial Data/
Corporate Information

Inherited ULVAC-Style
The essence of ULVAC’s Business Philosophy established in 1966 remains
unchanged even in an era of dynamic change. It is our responsibility to transmit
our founder’s aspirations to the present generation, passing the baton from one
generation to the next far into the future.

Start of a Journey with Aspirations to Contributeto Industry through Vacuum Technology
Amid Japan’s post-war recovery, a group of talented young researchers and engineers led by Jin Imachi(Second president of the Company) gathered with the aim of “contributing to the revival of Japaneseindustry through vacuum technology.” In 1952 six angel investors, impressed by the passion of thesevisionary young people, invested in the establishment of Japan Vacuum Engineering Co., Ltd., the forerunnerof present-day ULVAC.
Fascinating!
Y’all must do it!

Each invested ¥1 million (equivalent to ¥25 million today) of their own money
Japan Vacuum Engineering Co., Ltd.

First presidentSought
investment
Kohnosuke Matsushita

Great idea!
Through vacuum
technology let’s help
create an affluent future
for the up-and-coming
generation.

President of Matsushita
Electric Industrial

Yoshijiro Ishikawa

President of Keifuku Electric Railroad

We will provide
wholehearted support
to a company wishingto establish the vacuum
technology business inJapan.

Cooperation
NRC Equipment
CorporationU.S. vacuum equipment
manufacturer

Consult

I want to establish avacuum technology
company to help drive
Japan’s recovery.

Tamesaburo
Yamamoto

President of Asahi Beer

Six investors
Gen Hirose

President of Nissay

Yoshio Osawa

President of Osawa-ShokaiSecondpresident

Thirdpresident

Jin Imachi

Chikara Hayashi

Mazda ResearchLaboratory of ToshibaAiichiro Fujiyama

Chairman of Chamber ofCommerce & Industry of Japan
President of Dainihon Sugar
Refining Company
Foreign Minister

Sagane Lab of theUniversity of Tokyo

1941
Vacuum Clubwas established.
*1950
Renamed Vacuum
Technology Association*Names of companies, organizations and titles are those at the time mentioned.

1966
Business Philosophy established1996
Basic Corporate Philosophy
established

2001
Management Policies established

Evolution of the Business Philosophy
Japan Vacuum Engineering Co.,Ltd. (which later became known as ULVAC) established the Business
Philosophy consisting of six articles (later seven articles) in July 1966, the 15th anniversary of its founding.
It codified the philosophy that had been at the heart of ULVAC’s management as an unwritten rule since its
founding, and this philosophy was inculcated throughout management and employees, becoming ULVAC’scorporate DNA.
Subsequently, in line with the change of the business environment, including globalization, ULVAC
established the Basic Corporate Philosophy in 1996 to articulate ULVAC’s purpose, that is, proposing thecreation of extraordinary value to customers through its business in the quest to realize the remarkablepotential inherent in vacuum technology. Then, in order to clarify the thrust of the ULVAC Group, which offers
not only vacuum equipment but also materials and solutions, including analysis and services, ULVAC set
five Management Policies in 2001. In April 2004, ULVAC shares were listed on the First Section of the Tokyo
Stock Exchange.
The Business Philosophy has been inherited by successive generations. In 2021 ULVAC announced Our
Goal for 2050, reflecting the spirit of the Business Philosophy. In 2022, the 70th anniversary, to realize thegoal, we set Vision 2032 and Four Key Issues (Materiality), thus clarifying ULVAC’s direction.
70 years of contributing to the development of industry and science through vacuum technology is justone milestone in the development. The passion of our founder and all our predecessors is embodied in our
Business Philosophy, burning brighter than ever.

Business Philosophy
1. Our company’s life is eternal.
2. O ur company can thrive through its people andcan face ruin through its people.
3. Our company pursues profits.
4. Our company is a public instruments.
5. O ur company continues to exist solely because ofour customers.
6. Our company value time.
7. Our company’s business is the promotion ofcomprehensive use of vacuum technology is ourbusiness.

Vacuum Technology, ULVAC’s Core CompetenceStated simply, a vacuum is a space where the pressure is lower than the atmospheric pressure. A vacuum
has fascinating properties: for example, materials’ lower boiling points in a vacuum mean they are more
likely to evaporate and gas molecules can travel in a straight line in a space. ULVAC has developed various
application technologies that exploit the properties of a vacuum in its quest to realize the remarkablepotential inherent in vacuum technology. ‘ULVAC’ is a combination of ‘UL’ from ‘ultimate’ and ‘VAC’ from‘vacuum,’ signifying that we pursue the ‘Ultimate in Vacuum Technology.’
For example, using vacuum technology, it is possible to create ultrathin films with micron-to nanometerorder thickness. Since such thin films cannot be produced by physically stretching materials, advanced
vacuum thin film processing technology is required for depositing layers of atoms or molecules ofmaterials in a vacuum.
Led by IoT, 5G, and AI, a tremendous wave of technological innovation is making the digital society
an everyday reality. Vacuum thin film processing technology is destined to fulfill a vital role for thefundamental technologies underpinning the digital society.

1ULVAC VALUE REPORT 2023

ULVAC has been pursuing innovation as a leader in vacuum technology, which is indispensable for industrial
development. We continue to boldly take on challenges to resolve social issues for our customers andthe world. Our management philosophy is people-centered. We are emphasizing human resources
development, upholding our founding principles of faithfulness and integrity that have guided us since
our inception. For business stability and growth, it is essential to secure reasonable profits, develop
technologies, and cultivate relationships of trust with stakeholders. Positioning “creation and co-creationof innovation with vacuum technology as the core” at the heart of our management, we are pursuing thepotential of vacuum technology, anticipating changes in an era in which the business environment is rapidly
evolving, and exploring new business opportunities with our stakeholders. Inspired by our Vision, “Continueto Be a ‘Field of Potentiality’ for the Future,” we aim for sustainable growth and the creation of social value.

ULVAC VALUE REPORT 2023

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Inherited ULVAC-Style (Basic Corporate Philosophy/Management Policies)

Inherited
ULVAC-Style

Message to Our
Readers

About ULVACULVAC’s Vision

ULVAC’s Strategy

Corporate
Governance

Financial Data/Corporate Information

ULVAC VALUE REPORT 2023 TABLE OF CONTENTS
Message to Our Readers
5Message from Top Management

About ULVAC
91113

ULVAC’s Value Creation<Value Offered by ULVAC’s Businesses>

Here & There, Near your side
ULVAC’s Businesses
ULVAC’s HistoryULVAC’s Vision
151921232526

ULVAC’s Value Creation<Process> <Priority Issues>
ULVAC’s Strengths
ULVAC’s Sustainable Management
Toward the Realization of Our Goal for 2050
Review of the Previous Mid-termManagement Plan (FY 2020-FY 2022)
New Mid-term Management Plan (FY 2023-FY2025)

ULVAC’s Strategy
The ULVAC Group aims to contribute to the development
Basic Corporate
Philosophyof industries and science by comprehensively utilizing its
vacuum and peripheral technologies through the mutual
cooperation and collaboration of the Group companies.

Improve Customer Satisfaction
Innovations in Production Technology
ManagementPolicies

29

Development of Original Products
Free and Open-minded Organization

value for the world with its partners and continues to contribute to the future of people and34
35
37
41
45
49

55
59
63
65
67
68

ceaselessly striving to fulfill our social responsibilities.

3

ULVAC VALUE REPORT 2023

FPD Production Equipment

Components

Report’s Scope and Period
Scope: ULVAC GroupIn principle, this report covers the ULVAC Group; any portions
that cover only ULVAC, Inc. are indicated as such.
Period: Year ended June 30, 2023
(July 1, 2022 to June 30, 2023, FY 2022)
Some portions of the report include activities and initiatives from
July 2023 onward.
<Disclaimer>
Figures shown in tables and graphs in this report may not add
up to the indicated total because of rounding. Some figures
have been revised from previous years’ data because the scopeof reporting was expanded or calculating methods have beenchanged.

Vacuum Application Business Materials
Details of Initiatives for Materiality
Promotion of Creation and Co-creation ofInnovation with Vacuum Technology as the Core
Development of Diverse Human Resources
and Promotion of Their Advancement;
Cultivation of Resilient Organizations
Respect for Human Rights and Responsible
Conduct in the Value ChainContribution to a Sustainable Global
Environment

Corporate Governance
External Directors Roundtable Discussion
Management Structure
Risk Management
ComplianceWith Our Stakeholders

F inancial Data/
Corporate Information

In an era of change, we are never satisfied with the status quo but always embrace
will contribute to the realization of a sustainable society through vacuum technology,

 lectronic Device Production
EEquipment

Published:
November 2023 (Previous issue published in November 2022)
Guidelines Referenced:
The International Integrated Reporting Framework, theInternational Integrated Reporting Council (IIRC)
Guidance for Integrated Corporate Disclosure and CompanyInvestor Dialogues for Collaborative Value Creation (Guidancefor Collaborative Value Creation), Ministry of Economy, Trade andIndustry (METI)ISO 26000

ULVAC’s Communication Tools
Summarized
ULVAC VALUE REPORT(Japanese and English version)

Corporate Governancethe planet.”change, pursuing cutting-edge vacuum technology together with our partners. We emiconductor Production
SEquipment
Industrial Equipment

Enhancing Corporate ValueULVAC’s goal for 2050 is to become “a company that utilizes vacuum technology to createVacuum Equipment Business

Editorial Policy
We publish the ULVAC VALUE REPORT as a summary of ourinitiatives in the past year to achieve sustainable growth andenhancement of corporate value, our medium- to long-term
vision, and our management approach.
We consider this report to be an important communication
tool to facilitate stakeholders’ understanding of our activities anddeepen dialogue with them.

69717377

11-year Financial and Non-financial Data
Financial Overview
Consolidated Financial Statements
Company Data/Stock Information

Securities
reportDetailed
Financial information

Business report

Corporate
governance report

Business resultspresentationmaterials(Japanese/English)

Sustainability(Website)

Non-financial information

We endeavor to achieve the optimum information disclosure by making
various communication tools available to meet your needs.
To help you deepen your understanding of the ULVAC Group, ourcommunication tools range from statutory disclosure documentation
centering on information on financial closing to this report that offers
non-financial information, such as on social and environmental initiatives
indispensable for creating corporate value, in addition to information on
business activities, management strategies, and financial information.
Please also refer to our website for the latest information.

ULVAC VALUE REPORT 2023

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