V-Technology

What V-Technology does

V-Technology Co., Ltd. (株式会社ブイ・テクノロジー, TSE Prime: 7717) is a Japanese capital equipment manufacturer founded in October 1997, headquartered in Yokohama with 501-1000 employees and subsidiaries across Japan, South Korea, Taiwan, China, and Hong Kong. The company designs and manufactures semiconductor and flat panel display (FPD) manufacturing and inspection equipment, including maskless lithography systems (DL series achieving world-first 1μm minimum pixel), Direct Imaging (DI) lithography systems (LAMBDI) for advanced semiconductor packaging, silicon wafer inspection (MS-1000), photomask repair and inspection systems (PMARS, Dione, Pictor, Draco, Gemini, Sculptor), FPD exposure systems (AEGIS, RZ, DZ), FPD inspection and repair systems (Capricorn, Jupiter, Taurus, Mercury, Venus), and OLED vapor deposition masks (FHM Fine Hybrid Mask with 738ppi) and OLED salvage services. The company also operates diversification businesses including V-Tomato agricultural products.

The business model is B2B capital equipment sales with custom-quoted pricing (not publicly disclosed), sold through direct sales to large semiconductor fabs, FPD panel makers, and photomask manufacturers in Japan, Korea, China, and Taiwan, supported by regional subsidiaries and engineering R&D at the YRP Innovation Center in Yokosuka. Revenue is generated primarily through hardware sales across five streams: semiconductor manufacturing equipment (targeting >60% of FY2029 sales), FPD manufacturing and inspection equipment, photomask equipment, parts and materials (OLED masks), and services and maintenance. The company has executed an aggressive M&A strategy since 2013, acquiring ten-plus firms to expand from FPD inspection into semiconductor equipment, most recently Core Technology in May 2026.

Management is led by founder Shigeto Sugimoto (杉本重人) as Representative Director, President, and CEO. The company is publicly traded on the Tokyo Stock Exchange Prime Market (formerly Mothers 2000, First Section 2011, Prime 2022), has transitioned to an Audit and Supervisory Committee governance structure as of June 2025, and is targeting ¥100 billion in revenue and ¥20 billion in operating profit by fiscal year ending March 2029. FY2026 guidance was revised downward to ¥52.8 billion revenue (from ¥55.9 billion) due to delayed equipment deliveries including CF lithography to Chinese customers.

Name

V-Technology

Legal name

株式会社ブイ・テクノロジー

Website

https://vtec.co.jp

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

V-Technology (TSE: 7717) is a Japanese public capital equipment manufacturer producing maskless lithography, Direct Imaging systems for advanced semiconductor packaging, wafer and photomask inspection/repair equipment, and OLED vapor deposition masks for semiconductor fabs and FPD panel makers in Japan, Korea, China, and Taiwan.

Ownership category

akta.pro rank

Product category

Semiconductor Manufacturing Equipment

NAICS

Semiconductor Machinery Manufacturing (333242)

SIC

Misc Industrial & Commercial Machinery & Equipment (3590)

akta.pro primary industry

Mask/Reticle Manufacturing & Inspection Equipment (HDAHAEAK)

Keywords

• Semiconductor manufacturing equipment
• Flat panel display equipment
• Maskless lithography systems
• Photomask inspection equipment
• OLED deposition masks

Headquarters

HQ city

Yokohama-shi

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Semiconductor Manufacturing Equipment: Sales of semiconductor manufacturing equipment including wafer inspection, DI lithography, maskless lithography, and MRAM non-contact electrical inspection. This segment is targeted to exceed 60% of total sales by FY2029.
2. FPD Manufacturing & Inspection Equipment: Sales of flat panel display manufacturing and inspection equipment including exposure systems, defect inspection, repair, and coordinate measurement for LCD/OLED panels.
3. Photomask Equipment: Sales of photomask manufacturing equipment including repair, inspection, registration measurement, and mask writers for semiconductor and FPD applications.
4. Parts & Materials (OLED Vapor Deposition Masks): Sale of high-precision OLED vapor deposition masks (FHM Fine Hybrid Mask) and salvage/repair services for OLED displays.
5. Services & Maintenance: Maintenance services and high-tech staffing services for manufacturing equipment.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

V-Technology manufactures and sells semiconductor and flat panel display (FPD) manufacturing equipment, including maskless lithography systems, DI exposure systems, wafer inspection systems, photomask inspection and repair systems, FPD exposure and inspection equipment, and Fine Hybrid Mask (FHM) OLED vapor deposition masks. The company also offers OLED salvage services and a new V-Tomato agricultural product line, serving semiconductor fabs, display panel manufacturers, and OLED display producers globally.

Product overview

V-Technology is a semiconductor and flat panel display (FPD) manufacturing equipment company offering a comprehensive portfolio of inspection, exposure, repair, and measurement systems. The product portfolio includes maskless lithography systems (DL-1000A achieving world-first 1μm patterns), DI exposure systems for advanced packaging (LAMBDI), silicon wafer inspection (MS-1000), photomask equipment (PMARS, Dione, Pictor, Stark R6, Draco), FPD manufacturing systems (AEGIS, RZ, DZ), FPD inspection systems (Capricorn, Jupiter, Taurus, Mercury, Venus, Gemini), OLED vapor deposition masks (FHM), and salvage services for OLED defect recovery. The company has expanded from FPD origins into semiconductors through M&A, with products serving semiconductor, photomask, display panel, and agricultural (V-Tomato) segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Maskless Lithography DL-1000A A maskless lithography system designed for semiconductor manufacturers requiring 1μm resolution exposure without photomasks, enabling short-turn manufacturing and prototyping.
• LAMBDI (DI Exposure System) Direct Imaging (DI) lithography system used for FPD photomask manufacturing, providing high-precision patterning for display applications.
• MS-1000 Silicon Wafer Inspection System Silicon wafer inspection system used by semiconductor fabs to detect defects on silicon wafers during production.
• LITHOTRAC / Dual-1000 Coating and development equipment used in photomask production processes.
• RDA-800Twin Resist development rate analyzer used to evaluate photoresist performance in photomask and semiconductor processes.
• UF Series (MRAM Non-Contact Electrical Inspection) Non-contact electrical inspection system for MRAM devices and other semiconductor components.
• SRV Series (Electronic Circuit Inspection) Electronic circuit inspection system for semiconductor devices and PCBs.
• LIBRA Advanced Package Tester Advanced package tester for semiconductor packaging and testing applications.
• PMARS (Photomask Registration Measurement) Photomask registration measurement system used to measure overlay accuracy of photomasks during production.
• Dione (Photomask Defect Inspection) Photomask defect inspection system for detecting defects on photomasks used in semiconductor lithography.
• Pictor (Photomask Defect Repair) Photomask defect repair system used to repair defects on photomasks for semiconductor lithography.
• Stark R6 (Mask Writer) Mask writer used to write patterns on photomasks for semiconductor and FPD production.
• Draco (FIB Defect Repair for FPD Photomasks) FIB (Focused Ion Beam) defect repair system for FPD photomasks.
• AEGIS (FPD Optical Alignment Exposure) Optical alignment exposure system used in FPD manufacturing for precision pattern exposure.
• RZ (Large Glass Substrate Exposure) Large glass substrate exposure system used for FPD manufacturing on large-area glass substrates.
• DZ (Roll-to-Roll Exposure) Roll-to-roll exposure system for flexible display and continuous substrate production.
• Capricorn (FPD Defect Inspection) Defect inspection system for flat panel displays during manufacturing.
• Jupiter (FPD Color Filter Defect Repair) Defect repair system for FPD color filters.
• Taurus (FPD TFT Defect Repair) Defect repair system for FPD thin-film transistor (TFT) arrays.
• Mercury (Precision Coordinate Measurement) Precision coordinate measurement system for high-accuracy dimensional measurements.
• Venus (Micro-Dimension Measurement) Micro-dimension measurement system for semiconductor and FPD applications.
• Gemini (FPD Photomask Inspection) Inspection system for FPD photomasks.
• Sculptor (FPD Photomask Defect Repair) Defect repair system for FPD photomasks.
• FHM (Fine Hybrid Mask) Fine Hybrid Mask OLED vapor deposition mask used as a critical component in OLED display manufacturing for precise deposition of organic materials.
• OLED Salvage Service Service offering to repair and reuse OLED evaporation masks, extending the lifecycle of FHM masks used in OLED display production.
• V-Tomato Agricultural product under V-Technology's new business initiative in the agriculture sector.

Quantifiable outcome

• LAMBDI DI lithography system recognized with Semiconductor Observer Award 2025 Manufacturing Equipment Excellence Award
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

14 partnerships are on record, tiered core and major.

• Core Technologies (株式会社コアテクノロジー)coreStrategic or Co-development Partner · 12 May 2026V-Technology acquired shares of Core Technologies (stock acquisition announced May 2026), expanding its semiconductor-related technology portfolio through M&A.
• NEDO (New Energy and Industrial Technology Development Organization)coreStrategic or Co-development Partner · 7 April 2026V-Technology received an order from NEDO for the DI exposure system LAMBDI, indicating government-backed R&D collaboration for advanced semiconductor manufacturing equipment.
• Hi-CHIP AlliancecoreStrategic or Co-development Partner · 15 January 2026V-Technology participates in the Hi-CHIP Alliance for advanced semiconductor packaging technology, collaborating with industry partners to develop next-generation packaging solutions for semiconductors including AI chips.
• HST Vision (エイチエスティ・ビジョン株式会社)coreStrategic or Co-development Partner · 30 July 2024Stock acquisition completed July 2024. Now a consolidated subsidiary.
• Japan Create (ジャパンクリエイター株式会社)coreStrategic or Co-development Partner · 1 January 2023Stock acquisition completed January 2023. Now a consolidated subsidiary.
• I-TEC (株式会社アイテック)coreStrategic or Co-development Partner · 1 February 2022Stock acquisition completed February 2022. Now a consolidated subsidiary.
• Resotech Japan (リソテックジャパン)coreStrategic or Co-development Partner · 1 January 2021Acquired as a subsidiary in January 2021. Specializes in semiconductor lithography and resist processing technology.
• Nano System Solutions (ナノシステムソリューションズ)coreStrategic or Co-development Partner · 1 August 2019Acquired as a subsidiary in August 2019. Develops and sells maskless exposure (DI) equipment including DL-1000 series. New model DL-2500i launched July 2024.
• CHOT (China panel manufacturer)majorStrategic or Co-development Partner · 1 July 2019Joint venture CHVT established with Chinese panel maker CHOT in July 2019, creating a local partnership for display manufacturing in China.
• Lumiotec (ルミオテック株式会社)majorStrategic or Co-development Partner · 1 April 2018Subsidiary acquired April 2018. Specializes in organic EL (OLED) lighting manufacturing.
• V-E-T (ブイ・イー・ティー社)majorStrategic or Co-development Partner · 1 December 2017Established December 2017 for OLED evaporation mask business, combining V-Technology's display expertise.
• OHT (オー・エイチ・ティー株式会社)coreStrategic or Co-development Partner · 1 March 2016OHT, a non-contact electrical inspection company, became a subsidiary in March 2016 (100% ownership achieved December 2018). OHT developed OLED fully non-contact O/S inspection equipment first unit ordered December 2025.
• NSK Technology (NSKテクノロジー)majorStrategic or Co-development Partner · 1 June 2015100% acquisition of proximity exposure equipment maker NSK Technology in June 2015, which was merged into V-Technology in 2016.
• Omron LaserFront (オムロンレザーフロント社)majorStrategic or Co-development Partner · 1 October 2013Acquired FPD/semiconductor repair equipment business from Omron LaserFront in October 2013, expanding into repair and inspection equipment.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Ulvac: Japanese manufacturer of vacuum and deposition equipment for semiconductor and display manufacturing; comparable to V-Technology in equipment for thin-film processes, OLED evaporation, and flat-panel display manufacturing.
• Tokyo Electron: Major Japanese semiconductor production equipment supplier covering lithography, deposition, etch, and cleaning; directly comparable to V-Technology's semiconductor equipment portfolio and serves the same semiconductor fab customer base.
• SCREEN Holdings: Japanese semiconductor equipment maker with overlapping semiconductor cleaning, coating, and inspection products; competes with V-Technology in wafer processing equipment sold to the same Japanese, Korean, and Taiwanese fab customers.
• Nikon: Japanese lithography and FPD exposure equipment maker; directly competes with V-Technology's DI lithography (LAMBDI), maskless lithography (DL series), and FPD exposure (AEGIS/RZ/DZ) product lines for similar semiconductor and display customers.
• Lasertec: Japanese specialty maker of photomask and wafer inspection equipment, including EUV mask inspection; overlaps directly with V-Technology's photomask inspection (Dione, Gemini) and defect repair (Draco, Pictor, Sculptor) product lines serving semiconductor and FPD mask customers.
• Canon: Japanese maker of semiconductor lithography (including nanoimprint) and FPD exposure equipment; competes head-to-head with V-Technology in maskless/DI lithography and large-substrate FPD exposure systems.

Broad incumbents

• KLA Corporation: Global leader in semiconductor process control and yield management, including wafer inspection and metrology; a broader incumbent whose portfolio overlaps with V-Technology's wafer inspection (MS-1000), MRAM inspection (UF series), and photomask registration (PMARS) products.
• ASML Holding: Dutch leader in advanced lithography (EUV/DUV) for semiconductor manufacturing; a broader incumbent competing in the same semiconductor lithography equipment market where V-Technology positions its maskless DI lithography as a complementary or specialized alternative.

Regional players

• AP Tech: Korean maker of FPD photomask and exposure equipment; competes with V-Technology's FPD exposure (AEGIS, RZ, DZ) and photomask inspection/repair product lines primarily in the Korean display market (Samsung Display, LG Display).

Others

• Toppan Photomasks: Major merchant photomask manufacturer that purchases photomask writing, inspection, and repair equipment; a downstream customer rather than direct competitor, but tightly linked to the same photomask equipment ecosystem where V-Technology sells.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/v_technology_judoteam?igsh=MXZ6cmIyZWZnczIwcw%3D%3D
• LinkedInlinkedin.com/company/v-technology-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about V-Technology