Notice on Settlement of a Lawsuit Filed Against V Technology

In October 2015, USHIO INC. (HQ: Tokyo, President and CEO: Koji Naito) (hereinafter “USHIO”) had filed a patent infringement lawsuit, together with a provisional injunction order, against V-Technology Co., Ltd. (HQ: Yokohama, Kanagawa) (hereinafter “V-Technology”) regarding its exposure system for photo alignment process of IPS/FFS display. As of September 30, 2019, USHIO and V-Technology finally reached a settlement on this lawsuit, where USHIO will receive economic benefits of more than 1 billion JPY in total through payment of past patent royalties and future business transaction between the two parties. In conjunction with this settlement, USHIO withdrew the petition for the provisional injunction order which were issued by the court as of June 24, 2016.

As a result of this settlement, all lawsuits, etc. between USHIO and V-Technology regarding the exposure system for photo alignment process of IPS/FFS display have concluded. We would not disclose any contents of the settlement other than described here due to our confidentiality.