{"slug":"disco","name":"디스코","name_en":"Disco Corporation","ticker":"6146.T","updated_at":"2026-07-12T06:22:04.009+00:00","canonical":"https://valuechain.wiki/disco","same_as":["https://finance.yahoo.com/quote/6146.T"],"citable":"밸류체인 그래프 기준 디스코의 직접 연결 기업은 5곳(관계 기준 공급 0·매출 5)이고, 사슬을 2차까지 넓히면 31곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Disco Corporation is directly linked to 5 companies (0 supply, 5 revenue relationships) and reaches 31 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"닛케이 225 · 반도체 장비 · 다이싱·그라인딩 1위(60~70%)","kicker_en":"Nikkei 225 · Semi equipment · No.1 dicing/grinding (60-70%)","lead":"반도체 다이싱·그라인딩·폴리싱 장비 세계 1위(점유율 60~70%). 장비+소모 블레이드+서비스 일괄 공급. TSMC·삼성·SK하이닉스·ASE·앰코 등 fab·OSAT에 필수. 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equipment, make the money. It holds a 60-70% oligopoly in the essential back-end steps of dicing and thinning wafers, but its core profit is recurring blade and service revenue rather than one-off tool sales, so aftermarket accumulates as the installed base grows. Advanced packaging (chiplets, HBM) adds dicing/grinding steps for structural demand, while equipment sales stay sensitive to fab/OSAT capex cycles. Graph propagation: utilization at TSMC, Samsung, SK hynix, ASE and Amkor pulls consumable demand, and capex intensity sets tool volume.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"TSMC","counterparty_slug":"tsmc","confidence":"high","metric":{"type":"share","unit":"%","basis":"다이싱·그라인딩 장비 세계 점유율","value":65,"period":"2024","basis_en":"global dicing/grinding share","qualifier":"band"},"note":"TSMC 팹에 다이싱·그라인딩 장비를 공급하되, 진짜 관계는 그 위에 붙는 소모 블레이드·서비스의 반복매출 — 파운드리 가동률이 높을수록 소모품이 돈다.","note_en":"Supplies dicing/grinding tools to TSMC, but the real tie is the recurring blade/service revenue on top — the higher foundry utilization runs, the more consumables turn.","sources":[{"stance":"confirms","publisher":"디스코","publisher_en":"DISCO","kind":"filing","lang":"en","published_at":"2026-04-22","url":"https://japanir.jp/en/company/company-6146/ir/6146-20260422-01_wp_financial_summary/","title":"디스코 FY2026(2026.3기) 결산 요약","title_en":"DISCO FY2026 (year ended March 2026) Financial Summary","excerpt":"디스코 FY2026 매출 ¥4,368억(+11.1%)·영업익 ¥1,849억(마진 42.3%, 사상 최고). AI·HBM·GPU용 첨단반도체 정밀가공 수요와 소모 블레이드·툴 고수준 지속. TSMC에 다이싱·그라인딩 장비+소모 블레이드 공급.","excerpt_en":"DISCO FY2026 net sales JPY 436.8bn (+11.1%), operating income JPY 184.9bn (42.3% margin, record); AI/HBM/GPU advanced-semi precision-processing demand with consumable blades/tools staying high. Supplies 다이싱·그라인딩 장비+소모 블레이드 to TSMC."},{"stance":"confirms","publisher":"디스코","publisher_en":"Disco","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.disco.co.jp/eg/ir/","title":"Disco IR","title_en":"Disco IR","excerpt":"TSMC에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to TSMC."},{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"TSMC에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to TSMC."}]},{"direction":"revenue","counterparty":"삼성전자","counterparty_slug":"samsung-electronics","confidence":"mid","metric":{"fy":2026,"op_jpy_bn":184.9,"relationship":"다이싱·그라인딩 장비+소모 블레이드","op_margin_pct":42.3,"revenue_jpy_bn":436.8,"revenue_yoy_pct":11.1},"note":"삼성 팹에 다이싱·그라인딩 장비를 공급 — HBM·첨단 패키징이 절단·박막화 스텝을 늘려 장비+소모품 수요를 함께 키운다.","note_en":"Supplies dicing/grinding tools to Samsung — HBM and advanced packaging add dicing/thinning steps, growing both tool and consumable demand.","sources":[{"stance":"confirms","publisher":"디스코","publisher_en":"DISCO","kind":"filing","lang":"en","published_at":"2026-04-22","url":"https://japanir.jp/en/company/company-6146/ir/6146-20260422-01_wp_financial_summary/","title":"디스코 FY2026(2026.3기) 결산 요약","title_en":"DISCO FY2026 (year ended March 2026) Financial Summary","excerpt":"디스코 FY2026 매출 ¥4,368억(+11.1%)·영업익 ¥1,849억(마진 42.3%, 사상 최고). AI·HBM·GPU용 첨단반도체 정밀가공 수요와 소모 블레이드·툴 고수준 지속. 삼성전자에 다이싱·그라인딩 장비+소모 블레이드 공급.","excerpt_en":"DISCO FY2026 net sales JPY 436.8bn (+11.1%), operating income JPY 184.9bn (42.3% margin, record); AI/HBM/GPU advanced-semi precision-processing demand with consumable blades/tools staying high. Supplies 다이싱·그라인딩 장비+소모 블레이드 to 삼성전자."},{"stance":"confirms","publisher":"EDINET/회사 IR","publisher_en":"EDINET / company IR","kind":"filing","lang":"ja","published_at":"2025-06-24","url":"https://www.disco.co.jp/jp/ir/library/doc/fs/fs86.pdf","title":"disco 有価証券報告書 (EDINET)","title_en":"Annual Securities Report (EDINET)","excerpt":"有価証券報告書: 매출·고객·사업.","excerpt_en":"Annual securities report: revenue, customers, business."},{"stance":"confirms","publisher":"디지털투데이","publisher_en":"Digital Today","kind":"news","lang":"ko","published_at":"2025-06-01","url":"https://www.digitaltoday.co.kr/news/articleView.html?idxno=610284","title":"HBM4 시대 일본 소부장 의존 심화","title_en":"Deepening reliance on Japanese suppliers in the HBM4 era","excerpt":"HBM4 일본 소부장 의존…디스코 다이싱 70~80%","excerpt_en":"HBM4 reliance on Japan; Disco 70-80% dicing"},{"stance":"confirms","publisher":"디스코","publisher_en":"Disco","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.disco.co.jp/eg/ir/","title":"Disco IR","title_en":"Disco IR","excerpt":"삼성전자에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to Samsung Electronics."},{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"삼성전자에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to Samsung Electronics."}]},{"direction":"revenue","counterparty":"SK하이닉스","counterparty_slug":"sk-hynix","confidence":"mid","metric":{"fy":2026,"op_jpy_bn":184.9,"relationship":"HBM 그라인딩(박막화)·다이싱 장비+블레이드","op_margin_pct":42.3,"revenue_jpy_bn":436.8,"revenue_yoy_pct":11.1},"note":"SK하이닉스에 다이싱·그라인딩 장비를 공급 — HBM 적층이 그라인딩(박막화) 난이도를 높이는 대표 수요처.","note_en":"Supplies dicing/grinding tools to SK hynix — HBM stacking raises grinding (thinning) difficulty, a key demand source.","sources":[{"stance":"mentions","publisher":"애널리스트 분석","publisher_en":"Analyst analysis","kind":"research","lang":"en","published_at":"2026-04-25","url":"https://note.com/eternalcyu2/n/n3348baee8bc5","title":"디스코(6146) FY2026 결산 분석 — AI·HBM 정밀가공 수요·소모품 고수준","title_en":"DISCO (6146) FY2026 analysis — AI/HBM precision-processing demand; consumables at high levels","excerpt":"AI·데이터센터 투자와 HBM·GPU 수요가 정밀가공 장비·소모품 성장 견인.","excerpt_en":"AI/datacenter investment and HBM/GPU demand drove precision-processing equipment and consumables."},{"stance":"confirms","publisher":"디스코","publisher_en":"DISCO","kind":"filing","lang":"en","published_at":"2026-04-22","url":"https://japanir.jp/en/company/company-6146/ir/6146-20260422-01_wp_financial_summary/","title":"디스코 FY2026(2026.3기) 결산 요약","title_en":"DISCO FY2026 (year ended March 2026) Financial Summary","excerpt":"디스코 FY2026 매출 ¥4,368억(+11.1%)·영업익 ¥1,849억(마진 42.3%, 사상 최고). AI·HBM·GPU용 첨단반도체 정밀가공 수요와 소모 블레이드·툴 고수준 지속. SK하이닉스에 HBM 그라인딩(박막화)·다이싱 장비+블레이드 공급.","excerpt_en":"DISCO FY2026 net sales JPY 436.8bn (+11.1%), operating income JPY 184.9bn (42.3% margin, record); AI/HBM/GPU advanced-semi precision-processing demand with consumable blades/tools staying high. Supplies HBM 그라인딩(박막화)·다이싱 장비+블레이드 to SK하이닉스."},{"stance":"confirms","publisher":"디스코","publisher_en":"Disco","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.disco.co.jp/eg/ir/","title":"Disco IR","title_en":"Disco IR","excerpt":"SK하이닉스에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to SK hynix."},{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"SK하이닉스에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to SK hynix."}]},{"direction":"revenue","counterparty":"ASE테크놀로지","counterparty_slug":"ase","confidence":"mid","metric":{"fy":2026,"op_jpy_bn":184.9,"relationship":"후공정 다이싱·그라인딩 장비+블레이드","op_margin_pct":42.3,"revenue_jpy_bn":436.8,"revenue_yoy_pct":11.1},"note":"OSAT 대표 ASE에 다이싱·그라인딩 장비를 공급 — 후공정 물량이 몰리는 조립·테스트 위탁사라 소모품 애프터마켓의 핵심 축.","note_en":"Supplies dicing/grinding tools to leading OSAT ASE — where back-end volume concentrates, a core axis of the consumable aftermarket.","sources":[{"stance":"confirms","publisher":"디스코","publisher_en":"DISCO","kind":"filing","lang":"en","published_at":"2026-04-22","url":"https://japanir.jp/en/company/company-6146/ir/6146-20260422-01_wp_financial_summary/","title":"디스코 FY2026(2026.3기) 결산 요약","title_en":"DISCO FY2026 (year ended March 2026) Financial Summary","excerpt":"디스코 FY2026 매출 ¥4,368억(+11.1%)·영업익 ¥1,849억(마진 42.3%, 사상 최고). AI·HBM·GPU용 첨단반도체 정밀가공 수요와 소모 블레이드·툴 고수준 지속. ASE에 후공정 다이싱·그라인딩 장비+블레이드 공급.","excerpt_en":"DISCO FY2026 net sales JPY 436.8bn (+11.1%), operating income JPY 184.9bn (42.3% margin, record); AI/HBM/GPU advanced-semi precision-processing demand with consumable blades/tools staying high. Supplies 후공정 다이싱·그라인딩 장비+블레이드 to ASE."},{"stance":"confirms","publisher":"디스코","publisher_en":"Disco","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.disco.co.jp/eg/ir/","title":"Disco IR","title_en":"Disco IR","excerpt":"ASE테크놀로지에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to ASE Technology."},{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"ASE테크놀로지에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to ASE Technology."}]},{"direction":"revenue","counterparty":"앰코테크놀로지","counterparty_slug":"amkor","confidence":"mid","metric":{"fy":2026,"op_jpy_bn":184.9,"relationship":"다이싱·그라인딩 장비+블레이드","op_margin_pct":42.3,"revenue_jpy_bn":436.8,"revenue_yoy_pct":11.1},"note":"OSAT 앰코에 다이싱·그라인딩 장비를 공급 — 첨단 패키징 위탁이 늘수록 소모 블레이드 반복수요가 커진다.","note_en":"Supplies dicing/grinding tools to OSAT Amkor — as advanced-packaging outsourcing grows, recurring blade demand rises.","sources":[{"stance":"confirms","publisher":"디스코","publisher_en":"DISCO","kind":"filing","lang":"en","published_at":"2026-04-22","url":"https://japanir.jp/en/company/company-6146/ir/6146-20260422-01_wp_financial_summary/","title":"디스코 FY2026(2026.3기) 결산 요약","title_en":"DISCO FY2026 (year ended March 2026) Financial Summary","excerpt":"디스코 FY2026 매출 ¥4,368억(+11.1%)·영업익 ¥1,849억(마진 42.3%, 사상 최고). AI·HBM·GPU용 첨단반도체 정밀가공 수요와 소모 블레이드·툴 고수준 지속. 앰코에 다이싱·그라인딩 장비+블레이드 공급.","excerpt_en":"DISCO FY2026 net sales JPY 436.8bn (+11.1%), operating income JPY 184.9bn (42.3% margin, record); AI/HBM/GPU advanced-semi precision-processing demand with consumable blades/tools staying high. Supplies 다이싱·그라인딩 장비+블레이드 to 앰코."},{"stance":"confirms","publisher":"디스코","publisher_en":"Disco","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.disco.co.jp/eg/ir/","title":"Disco IR","title_en":"Disco IR","excerpt":"앰코테크놀로지에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to Amkor Technology."},{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"앰코테크놀로지에 다이싱·그라인딩 장비 공급.","excerpt_en":"Supplies dicing and grinding equipment to Amkor Technology."}]},{"direction":"cost","counterparty":"블레이드 소재·부품 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"제조용 부품·소재·R&D(비공개).","note_en":"Parts, materials and R&D (undisclosed).","sources":[{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"제조용 부품·소재·R&D(비공개).","excerpt_en":"Parts, materials and R&D (undisclosed)."}]},{"direction":"cost","counterparty":"설비·인프라 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"설비·인프라 투자(비공개).","note_en":"Equipment and infrastructure (undisclosed).","sources":[{"stance":"confirms","publisher":"SemiAnalysis","publisher_en":"SemiAnalysis","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://newsletter.semianalysis.com/p/disco-corporation-the-world-leader","title":"Disco, 다이싱·그라인딩 세계 1위","title_en":"Disco, world leader in dicing/grinding","excerpt":"설비·인프라 투자(비공개).","excerpt_en":"Equipment and infrastructure (undisclosed)."}]}]}