First, a summary of the full-year results. Page four is highlights.
Details will be covered from the next page and beyond.

1Please see page five.
This section shows profit/loss for Q4 as well as the full year. Since we consider adjusted earnings to
be an important management indicator, we will explain them in adjusted earnings terms. Since mostof the export sales of our products are denominated in yen, the foreign exchange impact on profit isminimal.
In Q4, revenue was down 18%, and adjusted operating profit was down 39% YoY. The large decreasein sales was due to the large proportion of sales for NAND in the same period of the previous year,
which was strongly affected by the sluggish NAND market. The decrease in sales and profit comparedto Q3 is due to the decline in service sales, while the recovery trend in equipment sales since Q2 hascontinued.
On the other hand, for the full year, revenue was down 26% and adjusted operating profit was down
41% from the previous year, but adjusted operating profit exceeded the earnings forecast by JPY1.5
billion.
Although we have the Toyama office and the group company locations in Toyama Prefecture, theNoto Peninsula earthquake of 2024, which occurred on January 1 of this year, did not cause extensive
damage and had only a minor impact on our business performance. R&D, capital expenditures, anddepreciation were generally in line with the initial expectations.
As previously forecasted, the Company plans to pay a year-end dividend of JPY11 as a semi-annual
amount, taking into account that the listing period was in H2.

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On page six are the factors that contribute to the YoY changes in revenue and adjusted operating
profit for the full year.
In Q4, sales revenue decreased YoY due to the restrained investment in NAND by device
manufacturers. On the other hand, the decline in revenue is narrowing due to active investment for
mature nodes in China, as well as recovering demand for equipment for DRAM and Logic in countries
around the globe.
Adjusted operating profit decreased due to lower gross profit resulting from lower sales. The decline
in gross profit margin was a one-time event due to the implementation of a cautious approach to thevaluation of certain components. Excluding the write-downs, gross margin was higher than in Q3.

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Page seven shows the factors for increase/decrease for the full year. In the fiscal year ended March
31, 2024, sales and profits declined from the previous year due to restrained investment in NAND by
device manufacturers throughout the year. However, despite the significant decline in sales revenue,
the gross profit margin improved from the previous year.

4Page eight shows the quarterly sales structure by business. In Q4, equipment sales continued torecover and were in the same conventional balance as in Q3. Breakdown of sales of mainstay andequipment was 50% batch ALD and 10% treatment.

5Page nine shows the sales composition by business for the full year.
In the fiscal year ended March 31, 2024, the ratio of the service business was temporarily larger due
to the decline in equipment sales. Breakdown of sales of mainstay and equipment and equipment
sales for the fiscal year ended March 31, 2024 was 50% batch ALD and 10% treatment.

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Page 10 shows quarterly equipment sales by application. In Q4, the ratio for DRAM and Logic waslarger due to the significant impact of restrained investment in NAND. Sales for DRAM and Logic
were the largest in the fiscal year ended March 31, 2024, respectively, due to active investment for
mature nodes in China, which has been noticeable since Q2, as well as the recovery in equipment
demand worldwide from Q3.

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Page 11 shows the sales composition by application for the full year.
Coming into the fiscal year ended March 31, 2024, the ratio of DRAM and Logic applications waslarge, as DRAM and Logic applications were strong, while those for NAND applications declined
significantly. For NAND, device manufacturers continue to pursue cutting-edge development, andsales of equipment for development use have maintained a certain scale.
Others consist of wafer applications, SI power device applications, and others. The service businessincludes equipment with wafer sizes of 150 millimeters to 200 millimeters, including SIC power device
applications.

8Page 12 shows the sales composition by destination for the full year.
In the fiscal year ended March 31, 2024, equipment and services combined accounted for 46% of thetotal sales to China, while sales for NAND have been declining significantly. The percentage of sales
to China has become larger due to active investment in China for mature nodes, mainly DRAM and
Logic, since Q2. We expect this rate to return to the previous 30% levels as investments in advanced
node start to show full recovery around the world.
In the medium to longer term, we believe that further expansion of sales in other countries aroundthe globe will bring the China ratio towards 20% levels.

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Page 13 shows changes in order backlog.
The order backlog at the end of the fiscal year ended March 31, 2024 was JPY149.7 billion. The orderbacklog had remained high due to an increase in long lead time projects, following the supply chain
issues in H2 of the fiscal year ended March 31, 2022. But, as initially expected, long lead time projects
are now being converted to sales.
Approximately 90% of the order backlog at the end of fiscal year ended March 31, 2024 will be booked
as sales in the fiscal year ending March 31, 2025, and the remaining 10%, in the fiscal year ending
March 31, 2026 and thereafter.
By region, approximately 60% of the orders are to China, but this includes sales conversion of projects
with long delivery times. Orders received include a mix of projects with long lead times that are booked
crossing fiscal years and projects with short lead times that are booked within the same quarter, andthe composition of these projects varies from QoQ.
Therefore, we refrain from disclosing numbers in the presentations in efforts to avoid misleading, but
it has bottomed out in Q2 as expected, and a recovery trend has been continuing since Q3.

10Page 14 is the balance sheet by quarter.
Total assets as of March 31, 2024 increased by JPY1.9 billion from the end of the previous fiscal year
due to an increase in property, plant, and equipment, resulting from large capital investments and anincrease in inventories in anticipation of a recovery in demand, although cash and cash equivalents
and trade and other receivables decreased from the end of the previous fiscal year.
Total liabilities decreased by JPY24.6 billion YoY, owing to a decrease in trade, other payables, andplanned repayment of borrowings.
Total assets increased by JPY26.5 billion YoY owing to an increase in retained earnings.

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Page 15 shows the main management indicators of the balance sheet.
The equity ratio as of March 31, 2024 was 50%, up 7 points from the end of the previous fiscal year.
Regarding the relationship between cash and debt, net cash was slightly negative due to weak
operating cash flow in H1 of the fiscal year ended March 31, 2024.
Going forward, operating cash flow is expected to improve as sales revenue recovers, and net cash
is expected to turn positive.

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Page 16 shows quarterly cash flows.
Coming into fiscal year ended March 31, 2024, free cash flow had been declining YoY due to thedecline in sales revenue but began to recover in Q3, and free cash flow turned positive in Q4.
Cash and cash equivalents balance remains sufficient for working capital.

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Page 17 shows cash flows for the full year.
Free cash flow for the year ended March 31, 2024, decreased YoY due to a decrease in operating
cash flow and an increase in investment cash flow.
In the fiscal year ending March 31, 2025, free cash flow is also expected to improve significantly,
owing to the recovery of operating cash flow.

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Page 18 shows R&D, capital expenditures, and depreciation for the full year.
The Company continues to invest in R&D and capital equipment in anticipation of future demand
recovery and medium- to longer-term demand expansion.
Although R&D expenses have temporarily increased as a percentage of the net sales due to thecurrent sales decline, we plan to raise R&D expenses from 4% to 5% of net sales to around 6% overthe medium to longer term. Further, capital investment, which has been JPY2 billion to JPY3 billion
per year in the past, is planned to increase to JPY4 billion to JPY6 billion per year, excluding large
capital investments.
Research and development expenses for the fiscal year ended March 31, 2024 were JPY12.7 billion,
generally, the same level as the previous year. R&D expenses for the fiscal year ending March 31,
2025 are expected to increase by approximately 20% from the previous fiscal year. Large-scale
capital expenditures were recorded, including the construction of a new plant totaling JPY24 billion
in Toyama Prefecture, and the expansion of a demonstration room in South Korea totaling JPY9
billion.
In addition, regular capital expenditures, such as evaluation equipment, increased in conjunction withthe expansion of the demonstration room in South Korea. As a result, capital investment for the fullyear totaled JPY20.5 billion, an increase of 3.1 times that of the previous year.
In the fiscal year ending March 31, 2025, the total amount of capital expenditures will continue to belarge as about half of the investment in the construction of the new plant will be recorded, but this is
expected to normalize in the fiscal year ending March 31, 2026, and thereafter.

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Then here is a forecast for the fiscal year ending March 31, 2025. Page 20 are highlights.
Specific details are provided on the following pages and beyond.

16Please see page 21. For the fiscal year ending March 31, 2025, we project a 20% increase in revenue
and increases in gross profit, adjusted operating profit, and adjusted net income of 24%, 35%, and30%, respectively, versus the fiscal year ended March 31, 2024.
In line with our shareholder return policy, we have set our annual dividend forecast at JPY32 pershare, which corresponds to a dividend payout ratio of over 20% based on adjusted net income. The
dividend payout ratios shown in the table are based on unadjusted net income.

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Page 22 shows the forecast sales revenue by H1 and H2 for the fiscal year ending March 2025.
In H1 of the fiscal year ending March 2025, we expect sales to China and to the rest of the world to
be on par with H2 of the last fiscal year, and legacy equipment sales included in the service businessare expected to boost sales revenue.
In H2, we expect legacy equipment sales in the service business to settle down, and we take cautious
a view on the demand for mature node equipment in China, while demand for equipment for leadingedge products around the world will begin to recover.
Therefore, we expect sales to grow in H2 for all countries in the world, except China. For reference,sales to China are expected to account for 50% to 60% of equipment business sales revenue in H1
and 40% to 50% in H2.

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On page 23, we show the bridge analysis of the forecast for the fiscal year ending March 2025
compared with the actual results for the fiscal year ended March 2024. Overall revenue is expected
to increase by 20% as sales recover, especially for DRAM and Logic. Adjusted operating income isexpected to increase 35% due to higher gross profit from sales recovery and higher gross margin.

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Page 24 shows the revenue mix forecast by business for the full year. For the fiscal year ended March
2025, we expect equipment sales to increase 26% and service sales to increase 10% over the last
fiscal year, bringing us closer to our historical balance. In the mid to long term, we aim to achieve abalance of 70% to 75% equipment sales and 25% to 30% service sales by growing both equipment
and services.

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Page 25 shows equipment sales composition by application for the full year.
We expect that sales for DRAM and Logic will begin a full-scale recovery in Q3, and that the DRAM
and Logic ratio will remain high. On the other hand, we expect a full recovery in the sales for NAND
to begin at the end of the fiscal year ending March 2025, and with limited contribution to sales
expected this fiscal year, the ratio will remain low.
In the mid to long term, we will expect each application aiming for a balance of 30% in NAND, 30%
in DRAM, 40% in logic/foundry, and others.
That covers my presentation.

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Page 27 is the highlights. Details are to follow.

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Page 28 is the outlook for the business environment.
Inventory adjustments are underway in the semiconductor device market, and unit prices for memory
devices have begun to rise, leading us to believe that market conditions have bottomed out in 2023.
Investment in leading-edge product development continues worldwide, and we expect capital
investment in leading-edge products to begin to recover in H2 of 2024.
In China, on the other hand, the capital investment in mature nodes, including power devices, hasbeen active and expected to remain brisk over the next several years. In the mid to long term, thesemiconductor-related market is expected to grow significantly due to expanding demand forelectronic devices such as smartphones and PCs, the expansion of data centers, and the investment
in reducing the environment impact, the so-called GX.
In light of this, our business plan is based on the assumption that the demand for equipment for
leading edge products will begin to recover in H2 of the fiscal year ending March 2025.
As for our sales to China, we take cautious view beyond the middle of the fiscal year ending March
2025. We expect the WFE market to be about the same size in 2024 as it was in 2023 or slightly
larger, but we expect it to reach USD110 billion to USD120 billion in the next few years, growing toabout USD130 billion by 2027.

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Page 29 is the strategy for the equipment business.
We are focusing on batch deposition and treatment systems, and our mainstay batch ALD has a
global market share of approximately 70%, while that of our single-wafer treatment systems havegrown to approximately 20%.
In response to the expected evolution of semiconductor devices, we will focus on R&D, acquisition of
new PORs, and the sales expansion by taking advantage of our technological superiority, aiming forsales growth exceeding the growth of the WFE market.

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On page 30, we reiterate the advantages of our batch ALD equipment. Although we skip the details,
the batch ALD system is not simply a combination of batch deposition technology and ALD technology,
but rather, a combination of complex technologies and the years of expertise that can only beachieved with high performance, and its high added value is recognized by device manufacturers
around the world. Our primary growth strategy is to increase sales of this batch ALD.

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On page 31, we reiterate the advantages of our treatment equipment. Although we skip the details,
we have already made progress in the NAND and DRAM areas, and our second growth strategy is
to use the expansion into Logic as the next inflection point to increase sales of treatment equipment.

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On page 32, we summarize our efforts by application.
In the area of DRAM, we have been acquiring new PORs for the highly complex deposition process
for leading-edge DRAM, and we expect TAM to expand as devices evolve, and we will aim to acquire
even more new PORs. Furthermore, in the mid to long term, we aim to expand our market share in
the same way as for 3D NAND as the device structure in 3D DRAM becomes more complex.
For logic, we have already won a development POR in GAA, and we expect the GAA generation
sales to exceed JPY10 billion in the fiscal year ending March 2025 and to expand in the fiscal year
ending March 2026 and beyond. In the mid to long term, we estimate that the batch deposition
process for CFET will be 1.4 times that for FinFET, and we aim to expand our market share.
For NAND, we have gained the overwhelming share of 3D NAND deposition process with our lineupof large-batch deposition systems and the mini-batch deposition systems for more advanced
deposition. We expect the demand to recover and expand as the market recovers and the devices
become more multi-layered.
Finally, in the service business category for SiC power devices, we expect sales to grow by about
20% YoY in the fiscal year ending March 2025 due to the introduction of new high-temperature
activated annealing products and the expansion of sales of existing products. We expect sales of
new high-temperature activated annealing product to grow to become one of the pillars of ourbusiness in the fiscal year ending March 2026.

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Page 33 summarizes the strategy for the service business.
In parts sales and the maintenance services, where relatively stable demand can be expected, we
will provide high value-added services based on the design for service business concept, taking
advantage of the large increase of the installed base in recent years.
The table below-right shows the example of the effect of design for service business. The increasein the number of high value-added products sold, combined with the increase in the sales per unit ofparts sales and maintenance, has contributed to the expansion of parts and maintenance sales andthe improved profitability.
We will also focus on the sales of equipment for wafer sizes of 200 millimeter or smaller, including
those for SiC power devices, by utilizing the sales networks of our group companies.

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Page 34 lays out our plans for the expansion of production, development, sales, and service systems.
Currently, a new plant is under construction in Tonami City, Toyama Prefecture, with the aim ofcommencing cooperation in the fall of this year. Toyama Plant will shift a part of its manufacturingfunction to the new plant and expand its development function.
Through these measures, we will double our manufacturing capacity in the fiscal year ending March2026 compared to the fiscal year ending March 2021 and expand our development capacity by 1.5
times, building a structure that will enable us to meet growing demand until 2030.
In Q2, we will start operations at the local subsidiary established in Singapore to expand theirbusiness in Asia, including [Asia], Malaysia, and India, and to strengthen our service support system.

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Page 35 is our ESG initiatives. Under our corporate philosophy, we are moving into a phase of
upgrading the level of sustainability management throughout the Group. We will strengthen our efforts
in both business and ESG aspects while becoming even more aware of our corporate social
responsibility.

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Finally, on page 36, we summarize the drivers for our future growth along with the development
roadmap.
We believe that as the semiconductor devices become more multilayered than three dimensional,
there will be more opportunities to take advantage of our expertise in batch ALD and in treatment.
In the short term, demand for DRAM and Logic, including mature node, will increase, followed bymarket recovery for NAND. In the medium term, sales expansion for Logic GAA generation, increased
demand for leading-edge DRAM, and new products for SiC power devices will drive growth.
In the long term, there are inflection points such as the transition to 3D DRAM and Logic CFET. By
providing products and services that meet the needs of each of these markets, we aim to realize abalanced portfolio and achieve medium- to long-term growth.
Regarding medium- and long-term initiatives, we would like to hold our first IR Day on the morning ofJune 18 to provide a detailed explanation.
We plan to invite a guest speaker from Applied Materials. Details will be announced shortly, and we
sincerely hope for your attendance.
That covers my presentation. Thank you for your attention.

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