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 first quarter of the fiscal year ending of March 31, 2025
〔Under Japanese GAAP〕

August 9, 2024

Registered Company Name: V-Technology Co., 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
Planned Date for Start of Dividend Payment: None
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 June 30, 2024)(1) Consolidated Results of Operations

3 months ended

3 months ended

June 30, 2023
AmountNet sales (Millions of Yen)

June 30, 2024

YoY(%)

AmountYoY(%)

5,749

△26.2

9,523

＋65.6

(Millions of Yen)

△641―

△948―

Ordinary profit or loss(△) (Millions of Yen)

△410―△759―

Net profit or loss(△) attributable to owners of the parent (Millions of Yen)

△406―

△656―

△65―

△514―

△42.04―△68.22―

Operating profit or loss(△)

Comprehensive Income or loss(△)(Millions of Yen)

Net profit per share (Yen)(2) Consolidated Financial Position

As ofAs ofMarch 31 ,2024

June 30, 2024

Total assets(Millions of Yen)

75,60674,397

Net assets(Millions of Yen)

34,63933,841

45.5

45.2

34,372

33,611Equity ratio(％)*Reference: Shareholdersʼ equity (Millions of Yen)

2. Dividends

1Q-end dividends per share (Yen)Year ended

Year ending

March 31 2024

March 31 2025――

2Q-end dividends per share (Yen)FY2025 Forecast
―

30.00

3Q-end dividends per share (Yen)

40.00

―

―

Year-end dividends per share (Yen)

30.00

40.00

Anual dividends per share (Yen)

60.00

80.00

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, 2023 through March 31, 2024)
Amounts

YoY(％)Net sales (Millions of Yen)

47,00025.9Operating profit (Millions of Yen)

1,600

89.1

Ordinary profit (Millions of Yen)

1,400

25.9

Net profit attributable to owners of the parent (Millions of Yen)

1,000

28.5

Net profit per share (Yen)103.88

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

- 1 -―

<Notes>(1) Changes in significant subsidiaries during the 3 months ended(April 1, 2024 through June 30, 2024) : None.

(2) Application of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements: None
(3) Changes in accounting policies, Changes in accounting estimates, or Restatementⅰ. Changes in accounting policies due to changes in accounting standards: yes
ⅱ. Changes other than “i.” above: Noneⅲ. Changes in accounting estimates: None
ⅳ. Restatements: None
Please refer to Page 6 “2．Consolidated Financial Statements and Major Notes, (3) Notes to Consolidated Financial Statements(Note on the change of accounting policies) “ for more information.
(4) Number of Shares Outstanding (Common stock)
Items

As ofNumber of shares

June 30, 2024

10,057,600

March 31, 2024

10,057,600

2. Number of treasury shares at end of year

June 30, 2024

431,386

March 31, 2024

433,086

3.Average number of shares outstanding

June 30, 2024

9,625,488

June 30, 2023

9,669,676

1. Number of shares outstanding at end of year

As of

Number of shares(Including treasury stock)(Cumulative quarterly period)*This Brief Report “Summary of Consolidated Financial Statements” is not subject to an audit by a certified public accountant or anaudit corporation.
*Explanation of the appropriate use of earnings forecasts and other special notes
The forward-looking statements in this document, including earnings forecasts, are based on information currently available to theCompany and certain assumptions that the Company believes to be reasonable. Actual results may differ materially from these statements
due to a variety of factors.
Refer to pange 3, "1. Qualitative Information on Quarterly Results (3) Explanation of Forward-Looking Statements" for the assumptions
used and precautions regarding the use of earnings forecasts and more information.

- 2 -1. Qualitative Information on Quarterly Results（１）Explanation of Business Results
During the first quarter of the year under review, the global economy continued to face an uncertain situation, with uneven economicconditions depending on the region: in Europe, where stagnation continued, China, where recovery was slow, and the USA, where thesituation was firm, amid increasing geopolitical tensions worldwide, including the situation in Ukraine and the Middle East.
In the USA, the economy remained robust against a backdrop of strong consumer spending and capital investment, despite continued
monetary tightening.
In China, the recovery slowed due to a sluggish property market and a slowdown in consumer spending.
In Japan, corporate capital investment remained strong, while consumer spending was sluggish and the economy remained moderate.
As for the consolidated business results of V Technology group (herein after “the group” or “the company”) for the first quarter of thecurrent fiscal year, net sales amounted to 9,523 million yen (5,749 million in same period last year, hereinafter figures in brackets() refer tothe same period of the previous year), and operating loss amounted to 948 million yen (operating loss 641 million), Ordinary loss was 759
million(ordinary loss 410 million yen),Net loss attributable to owners of the parent amounted to 656 million(net loss of 406 million yen). Orders
received by the Group in the current consolidated fiscal year totaled 9,879 million yen(9,264 million yen ).As a result, the order backlog at theend of the consolidated fiscal year under review amounted to 40,162 million yen (37,436 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 linewith plans. Under these circumstances, orders received in the Group's FPD equipment business during the first quarter totaled 7,237 million
yen (6,433 million yen), with an order backlog of 19,497 million yen (24,204 million yen), net sales amounted to 7,639 million yen (4,133 millionyen), and operating loss was 334 million yen (operating loss 347 million yen).
(Semiconductor and Photomask Equipment Business)
In the semiconductor and photomask equipment business, although supply and demand continued to deteriorate for some semiconductors,
capital investment related to our group generally progressed as planned. Under these circumstances, orders received by the Group in thesemiconductor and photomask equipment business during the first quarter of the year totaled 2,254 million yen (2,592 million yen), and theorder backlog totaled 19,959 million yen (15,958 million yen), net sales amounted to 1,495 million yen (1,377 million yen), and operating loss
was 554 million yen (operating loss 204 million yen).

(2) Explanation of Financial Condition(Assets)Total assets at the end of the first quarter of the current fiscal year decreased by 1,208 million yen from the end of the previous
consolidated fiscal year to 74,397 million yen. This was mainly due to a decrease in "Notes and accounts receivable" of 4,383 million yen, andan increase in “Cash and deposits” of 1,967 million yen.
(Liabilities)
Total liabilities at the end of the first quarter of the current fiscal year year decreased by 410 million yen from the end of the previous
consolidated fiscal year to 40,556 million yen. This was mainly due to a decreases of 1,067 million yen in "Long-term borrowings“.
(Net assets)
Net assets decreased by 798 million yen from the end of the previous consolidated fiscal year to 33,841 million yen. This was mainly due toa decrease of 968 million yen in "Retained earnings".

(3) Explanation of Forward-Looking Statements
As a result of taking into account the results for the first quarter of the 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'.

- 3 -2．Consolidated Financial Statements and Major Notes（1）Consolidated Balance Sheets(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronicallyrecordedobligations
operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Advances received
Provision for product warranties
Other provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Provisions
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

As of March 31, 2024

- 4 -As of June 30, 2024

23,096
24,71625,063
20,332

165

799

477
12,274
2,780
3,980
△445
67,045443
12,881
3,084
3,340
△408
65,537

4,098

4,305

515
371
886
3,575
8,560
75,606

653
346
1,000
3,553
8,860
74,397

5,429

5,296

5,956

5,770

866
9,009
285
4,496
865
390
2,000
29,299

1,386
8,764
43
5,645
736
342
1,920
29,905

10,550
456
208
310
140
11,66640,966

9,482
460
209
324
174
10,65040,5562,847
2,503
29,387△2,01132,7272,847
2,504
28,418△2,004
31,765

242

97

1,402

1,747

1,644

1,845

267
34,63975,606229
33,841
74,397

（2) Consolidated Statements of Income<Consolidated Statements of Income> (Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest and dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using
equity method
Other
Total non-operating expenses
Ordinary loss
Extraordinary income
Gain on sale of non-current assets
Gain on change in equity
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Total extraordinary losses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
LossLoss attributable to non-controlling interests
Loss attributable to owners of parent

Three months ended
June 30, 2023
5,749
3,879
1,870
2,511
△641

Three months ended
June 30, 2024
9,523
7,749
1,773
2,722
△948

14287
71373

15206
65
287

141912076

7143
△410

197△759－
111138－38

001△400
201637△437
△30
△406

001△72145△51△6△715△58△656

Three months ended
June 30, 2023
△437

Three months ended
June 30, 2024
△71577△144245276

4868371△65200△514△26△441△38△72<Consolidated statement of comprehensive income> (Millions of yen)

Loss
Other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests- 5 -（3) Notes on Consolidated Financial Statements＜Notes on the financial reporting framework＞
The quarterly consolidated financial statements have been prepared in accordance with 1 and 2 below.
1. Article 4.1 of the Standards for the Preparation of Quarterly Financial Statements, etc. of Tokyo Stock
Exchange, Inc.
2.

The accounting standards for quarterly financial statements generally recognised as fair and appropriate
in Japan (however, the omission of a statement as stipulated in Article 4.2 of the Standards for thePreparation of Quarterly Financial Statements is applied).

<Note on the change of accounting policies>
Application of the Accounting Standard for Current Income Taxes
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 'Revised2022 Accounting Standard'). and others have been applied from the beginning of the first 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 thedeferral for tax purposes of gains or losses on the sale of shares in subsidiaries and other assets arising on thesale of shares in subsidiaries between consolidated companies, the revised 2022 Application Guidance has been
applied from the beginning of the first 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 quarterand the consolidated financial statements for the previous financial year.

- 6 -<Note on the segment information>
I. Previous financial year (1 April 2023 - 30 June 2023)
Information on sales, income (loss), assets, liabilities, and other items by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*2
*3

Other
*1

FPD
equipment
business

Semiconductor,
photomask
equipment
business

4,133

1,377

5,511

238

－

5,749

70－

70－

△70－

4,204

1,377

5,581

238

△705,749

△347

△204

△551

△89－

△641

TotalSales
Revenues from externalcustomers
Transactions with othersegmentstotalSegment income (△loss)
Note*1. "Other" is a business segment that is not included in the reportable segments and includes OLED lighting and agriculturebusiness.
*2. "Adjustment" refers to elimination of intersegment transactions.
*3. Segment income (loss) is adjusted with operating income in the consolidated financial statements.
II.Current financial year (1 April 2024 - 30 June 2024)>(Millions of yen)
Reportable segments
Adjustments Consolidated
*2
*3

Other
*1

FPD
equipment
business

Semiconductor,
photomask
equipment
business

Reportablesegments

7,639

1,495

9,135387－

9,523

7－

769

△76－

7,647

1,495

9,142456△769,523

△334

△554

△888

△60－

△948

Sales
Revenues from externalcustomers
Transactions with othersegments
totalSegment income (△loss)
Note*1. "Other" is a business segment that is not included in the reportable segments and includes OLED lighting and agriculturebusiness.
*2. "Adjustment" refers to elimination of intersegment transactions.
*3. Segment income (loss) is adjusted with operating income in the consolidated financial statements.
<Notes on significant changes in shareholders' equity>
None<Notes on going concern assumption>
None<Notes to the quarterly consolidated cash flow statement>
Depreciation (including amortisation of intangible assets excluding goodwill) and amortisation of goodwill for the
first quarter of the financial year are as follows.
Three months ended
June 30, 2023

Three months ended
June 30, 2024

Depreciation expense(Million yen)

170

169

Amortisation of goodwill(Million yen)

146

107

- 7 -