Toppan Holdings to spin off Tekscend Photomask, listing on Tokyo Stock Exchange

Toppan Holdings announced the Tokyo Stock Exchange's approval for the listing of Tekscend Photomask Corp. (TPC) on the Prime Market. TPC, a semiconductor photomask manufacturer established in April 2022, is part of Toppan's semiconductor-related business, a designated growth area. The listing aims to enhance TPC's ability to swiftly execute investments and strengthen its competitiveness as an independent entity, contributing to the Toppan Group's overall corporate value.

Following the listing, Toppan Holdings plans to transition TPC from a consolidated subsidiary to an equity-method affiliate, considering capital efficiency and governance, while supporting TPC's autonomous management. Toppan Holdings currently owns 50.1% of TPC's voting rights, which will become 46.6% after the listing.

TPC, headquartered in Tokyo with eight global manufacturing bases, leverages advanced technology to contribute to the semiconductor industry. Its mission focuses on "Shaping an Innovative Future with Advanced Microfabrication Technology." TPC's share capital is JPY 400m, and it employs 489 staff (1,899 consolidated) as of August 31, 2025.