ULVAC,Inc. (6728) Stock Price

ULVAC is a comprehensive manufacturer that develops, manufactures, and sells production equipment, components, and materials used in semiconductors, displays, energy, and other fields, based on vacuum technology. Its core products are vacuum process equipment such as sputtering, vacuum evaporation, and etching for thin-film formation, along with supporting vacuum pumps, control equipment, and materials.

The company's main customers are semiconductor manufacturers, display manufacturers, and electronic component makers, with products ultimately used in smartphones, automobiles, and home appliances. Revenue is primarily driven by large equipment sales, which fluctuate with orders, while stable income is secured through the sale of components and materials as well as maintenance and service offerings.

The company's business is divided into two main segments: vacuum equipment operations and vacuum applications operations. The former handles production equipment, vacuum pumps, and measurement and control equipment, while the latter handles film-forming materials, surface analysis equipment, and contract film-forming processing. The company provides integrated solutions to customers from equipment installation through material supply to after-sales service.

The company is pursuing balanced growth and profitability under its new medium- to long-term management plan, the "Value-Up Plan," spanning fiscal 2026 through 2031. Specifically, it targets consolidated net sales of 360 billion yen and operating profit of 79 billion yen by June 2031, with interim targets of 260 billion yen in sales and 39 billion yen in operating profit by 2028. Additionally, the company aims to increase the sales ratio of its semiconductor and electronics-related business from approximately 36% currently to over 60% by 2031, while improving ROE to 16%.

Priority investment areas are semiconductor manufacturing equipment and electronic component manufacturing equipment, where the company is concentrating management resources. Building on proven expertise in hard masks and metal deposition, the company plans to expand market share by increasing the number of approved processes (POR) adopted in mass production. It targets orders exceeding 10 billion yen by 2031 in both semiconductor manufacturing equipment and electronic component manufacturing equipment. The company will differentiate itself through integrated solutions encompassing materials supply and maintenance, as well as by deploying inspection and analysis equipment for mass production lines.

For new market development and business expansion, the company emphasizes synergies across business units and external partnerships. It will transition analytical equipment expertise developed for research and development into mass production inspection, aiming to establish a global position in the inspection equipment market while advancing into next-generation power semiconductors, advanced packaging, and optoelectronics. Beyond development investment to accelerate growth, the company plans to acquire technology and sales channels through M&A as needed.

The company also prioritizes technological innovation and strengthening its business foundation. In manufacturing, it is advancing component standardization and modularization to enable advance procurement and planned production through modular design, significantly reducing manufacturing lead times. Concurrently, it will compress fixed costs through streamlining low-margin operations and consolidating production facilities. From a sustainability perspective, the company is committed to reducing CO2 emissions, developing environmentally conscious products, and strengthening human capital development and governance, thereby pursuing long-term enhancement of corporate value.