{"slug":"flex-ltd","name":"플렉스","name_en":"Flex Ltd.","ticker":"FLEX","updated_at":"2026-09-24T11:00:19.552167+00:00","canonical":"https://valuechain.wiki/flex-ltd","citable":"밸류체인 그래프 기준 플렉스의 직접 연결 기업은 5곳(관계 기준 공급 2·매출 3)이고, 사슬을 2차까지 넓히면 36곳에 닿는다. 링크의 근거 출처는 12건이며 그중 1차공시가 4건이다 (valuechain.wiki, 2026-09-24 기준).","citable_en":"Per the valuechain.wiki graph, Flex Ltd. is directly linked to 5 companies (2 supply, 3 revenue relationships) and reaches 36 companies within two hops; the links are backed by 12 dated sources, 4 of them primary filings (as of 2026-09-24).","kicker":"EMS/ODM 계약제조사","kicker_en":"EMS/ODM contract manufacturer","lead":"플렉스는 세계 최대 전자제품 위탁제조(EMS/ODM) 기업 중 하나로, 산업·자동차·헬스케어를 담당하는 RMS, 통신·라이프스타일을 담당하는 ITS, 클라우드·전력 인프라를 담당하는 CPI 세 사업부문에서 고객사 제품을 설계, 조립하고 공급망을 관리한다. 매출은 알파벳(구글)과 팔로알토 네트웍스 등 고객사의 위탁 생산 물량에서 나오고, 비용은 온세미 등 반도체 및 전력부품 공급사에 지불하는 구조다. AI 데이터센터를 겨냥한 전력·냉각 사업인 CPI는 FY2026 매출의 24%인 66억 달러를 기록해 전년대비 38% 성장했고, 2027년 1분기 중 별도 상장회사로 분사할 계획이다.","lead_en":"Flex is one of the world's largest electronics manufacturing services (EMS/ODM) companies, designing, assembling and managing supply chains for customer products across three segments: Regulated Manufacturing Solutions (industrial, automotive, healthcare), Integrated Technology Solutions (communications, lifestyle) and Cloud and Power Infrastructure (data center power and cooling). Revenue comes from OEM customers such as Alphabet (Google) and Palo Alto Networks, while costs go to component suppliers such as onsemi. The AI data center power and cooling business, CPI, reached $6.6 billion, 24% of FY2026 revenue, up 38% year over year, and Flex plans to spin it off as a separate public company in the first quarter of calendar 2027.","categories":[{"key":"data-center-power-cooling","ko":"데이터센터 전력·냉각","en":"Data Center Power & Cooling","theme":"ai-compute","theme_ko":"AI 컴퓨트 인프라","theme_en":"AI Compute Infrastructure","theme_kind":"chain","primary":true}],"segments":{"parts":[{"name":"RMS (Regulated Manufacturing Solutions)","note":"102억 달러(전년비 5%↑). 산업자동화 38억 달러, 자동차 36억 달러, 헬스케어 28억 달러"},{"name":"ITS (Integrated Technology Solutions)","note":"111억 달러(전년비 2%↓). 통신 55억 달러, 라이프스타일 56억 달러"},{"name":"CPI (Cloud and Power Infrastructure)","note":"66억 달러(전년비 38%↑, 매출의 24%). 클라우드·냉각 45억 달러, 전력 21억 달러. 2027년 1분기 분사 예정"}],"total":"277억 9,000만 달러 (FY2026, 회계연도 종료 2026-03-31, XBRL 기준)","track":"C"},"segments_en":{"parts":[{"name":"RMS (Regulated Manufacturing Solutions)","note":"$10.2B (+5% YoY). 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Corporation","name_en":"SMC Corporation","tier":3,"returns_yearly":{"2021":0.9,"2022":4.5,"2023":28.6,"2024":-28,"2025":4.2,"2026":23.4}},{"slug":"cadence","name":"Cadence Design Systems","name_en":"Cadence Design Systems","tier":3,"returns_yearly":{"2021":36.6,"2022":-13.8,"2023":69.6,"2024":10.3,"2025":4,"2026":12.9}},{"slug":"merck-kgaa","name":"Merck KGaA","name_en":"Merck KGaA (EMD)","tier":3,"returns_yearly":{"2021":42.2,"2022":-0.4,"2023":-19.1,"2024":-2.5,"2025":-12.7,"2026":12}},{"slug":"synopsys","name":"Synopsys","name_en":"Synopsys","tier":3,"returns_yearly":{"2021":42.1,"2022":-13.4,"2023":61.3,"2024":-5.7,"2025":-3.2,"2026":8.6}},{"slug":"kyec","name":"KYEC","name_en":"King Yuan Electronics (KYEC)","tier":3,"returns_yearly":{"2021":26.7,"2022":-7.7,"2023":132.4,"2024":38.6,"2025":171,"2026":8.4}},{"slug":"nitto-denko","name":"닛토덴코","name_en":"Nitto Denko","tier":3,"returns_yearly":{"2021":-4.3,"2022":-2.9,"2023":51.3,"2024":14.7,"2025":26,"2026":1.3}},{"slug":"lg-energy-solution","name":"LG에너지솔루션","name_en":"LG Energy Solution","tier":3,"returns_yearly":{"2023":-26.9,"2024":-7.6,"2025":13.1,"2026":0.8}},{"slug":"cosmo-advanced-materials-technology","name":"코스모신소재","name_en":"Cosmo Advanced Materials & Technology","tier":3,"returns_yearly":{"2021":121.4,"2022":48.7,"2023":128.9,"2024":-60.4,"2025":-3.4,"2026":-9.3}},{"slug":"leeno","name":"리노공업","name_en":"Leeno Industrial","tier":3,"returns_yearly":{"2021":21,"2022":-5.3,"2023":18.3,"2024":9.5,"2025":150.1,"2026":-17}},{"slug":"posco-future-m","name":"포스코퓨처엠","name_en":"POSCO Future M","tier":3,"returns_yearly":{"2021":-17.7,"2022":97.6,"2023":16.3,"2024":-43.6,"2025":56.5,"2026":-17.8}},{"slug":"smic","name":"SMIC","name_en":"SMIC","tier":3,"returns_yearly":{"2021":-29.6,"2022":-7.4,"2023":-18.3,"2024":169.9,"2025":98.4,"2026":-23.5}},{"slug":"siemens-eda","name":"Siemens EDA","name_en":"Siemens EDA","tier":3,"returns_yearly":null}],"analysis":"2026년 AI 사슬에서 돈이 어디로 옮겨갔는지를 가장 선명하게 보여주는 노드다. 컴퓨트 층이 먼저 올랐다(NVIDIA 2023 +239.0%·2024 +171.2%). 그 다음 하이퍼스케일러가 따라왔고(알파벳 2025 +66.0%), 2026년에는 상승이 데이터센터를 물리적으로 짓는 층으로 내려왔다. 플렉스는 2024 +67.2%·2025 +57.4%에 이어 2026년 +81.2%로 3년 연속 가속했고, 같은 물리층인 Equinix(+37.3%)·onsemi(+37.4%)·GE Vernova(+44.4%)와 방향이 일치한다. 사슬 위치가 실적으로 확인된다. AI 데이터센터 전력·냉각 사업 CPI는 FY2026 매출 66억 달러로 전사의 24%, 전년비 +38%이고 2027년 1분기 분사가 예정돼 있다. 즉 매출 성장의 대부분이 그래프상 알파벳·팔로알토 네트웍스로 연결된 위탁생산 물량이 아니라, 새로 붙은 전력·냉각 축에서 나온다. 반대 신호도 같이 봐야 한다. 비용처인 onsemi는 2024 -24.5%·2025 -14.1%로 2년 눌렸다가 2026년에야 +37.4%로 돌아섰다. 부품 공급단이 조립단보다 늦게 반응했다는 뜻이고, 사슬 전파가 균일하지 않다는 증거다. CPI 분사는 이 노드의 재평가 논거를 통째로 떼어내는 이벤트라 분사 후 잔존 EMS 사업의 배수가 관건이 된다.","analysis_en":"This node shows most clearly where money moved inside the AI chain in 2026. Compute rose first (NVIDIA +239.0% in 2023, +171.2% in 2024). Hyperscalers followed (Alphabet +66.0% in 2025). In 2026 the move reached the layer that physically builds data centers. Flex compounded +67.2% in 2024, +57.4% in 2025 and +81.2% in 2026, moving in step with the rest of that physical layer: Equinix +37.3%, onsemi +37.4%, GE Vernova +44.4%. Its position in the chain is confirmed by results. The AI data center power and cooling segment, CPI, reached $6.6B in FY2026, 24% of revenue and up 38% year over year, with a spin-off planned for the first quarter of calendar 2027. So most of the growth comes not from the contract-manufacturing volumes that link Flex to Alphabet and Palo Alto Networks in this graph, but from the newer power and cooling axis. The counter-signal matters too. onsemi, a supplier, fell 24.5% in 2024 and 14.1% in 2025 before turning to +37.4% in 2026, meaning the component tier reacted later than the assembly tier and the chain did not propagate evenly. The CPI spin-off detaches the entire re-rating case from this node, so the multiple on the remaining EMS business is the open question.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"아노드 마딕스","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2021-10-18","basis":"데이터센터용 중전압 스위치기어, 버스웨이, 배전 시스템 기업 인수 대금","value":540000000,"period":"인수 거래대금(전액 현금)","basis_en":"Acquisition price for a critical power (medium-voltage switchgear, busway, power distribution) company for the data center market","qualifier":null},"note":"2021년 인수 건으로 다소 오래되었으나, 플렉스의 데이터센터 전력 인프라(현재 CPI 부문의 Anord Mardix 브랜드) 진출의 기원이 되는 거래이며 실제 거래금액이 공시된 드문 사례다. 색인에 등재된 기존 노드가 아니다. 이 팩의 최신성 조건은 다른 출처(2025~2026년)로 충족된다.","note_en":"This 2021 deal is older, but it marks the origin of Flex's push into data center power infrastructure (now the Anord Mardix brand within the CPI segment) and is one of the rare cases where the actual deal value was disclosed. Not an existing node in the index. The pack's recency requirement is satisfied by other, more recent sources.","sources":[{"stance":"confirms","publisher":"SEC EDGAR (Flex 8-K 첨부)","publisher_en":"SEC EDGAR (Flex 8-K exhibit)","kind":"filing","lang":"en","published_at":"2021-10-18","url":"https://www.sec.gov/Archives/edgar/data/866374/000086637421000054/flex-8xk10182021exh991prpr.htm","title":"플렉스, 아노드 마딕스 인수 확정계약 체결 발표 (8-K 첨부 보도자료)","title_en":"Flex Announces Definitive Agreement to Acquire Anord Mardix (8-K exhibit press release)","excerpt":"5억 4,000만 달러 전액 현금 거래. CEO 레바티 아드바이티: '이번 인수는 플렉스가 앞서 밝힌 대로 더 빠르게 성장하는 고마진 영역으로 이동하는 전략을 뒷받침한다.'","excerpt_en":"$540 million all-cash transaction. Revathi Advaithi, CEO: \"This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals.\""}]},{"direction":"investment","counterparty":"크라운 테크니컬 시스템스","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2024-11-19","basis":"데이터센터용 전기 스위치기어 등 전력 인프라 기업 인수","value":null,"period":"일회성 인수","basis_en":"Acquisition of an electrical switchgear and power infrastructure company for data centers","qualifier":"confirmed_no_disclosed_value"},"note":"데이터센터용 전기 스위치기어 등 전력 인프라 기업 인수. 색인에 등재된 기존 노드가 아니다. 인수 금액은 공개되지 않았다.","note_en":"Acquisition of an electrical switchgear and power infrastructure company for data centers. Not an existing node in the index. The deal value was not disclosed.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-05-20","url":"https://www.sec.gov/Archives/edgar/data/866374/000086637426000012/flex-20260331.htm","title":"FLEX LTD. 10-K (FY2026, 2026-05-20 제출)","title_en":"FLEX LTD. Form 10-K (FY2026, filed 2026-05-20)","excerpt":"Crown Technical Systems(2024년 11월 19일 인수), 취득 자산으로 고객관계 및 라이선스(customer relationships and licenses)를 기재","excerpt_en":"Crown Technical Systems (acquired November 19, 2024) - customer relationships and licenses"}]},{"direction":"revenue","counterparty":"알파벳 (구글)","counterparty_slug":"alphabet","confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-05-06","basis":"구글과의 다년 계약. 전력 인프라, 열관리, 복합 하드웨어 제조를 포함하며 CPI 부문 FY2027 성장 가이던스(65~75%)의 핵심 동력으로 언급됨","value":null,"period":"다년 계약(연차별 금액 미공개)","basis_en":"Multi-year contract with Google spanning power infrastructure, thermal systems and complex hardware manufacturing, cited as a key driver of CPI's FY2027 growth guidance of 65-75%","qualifier":"confirmed_no_disclosed_value"},"note":"FY2026 4분기 실적발표(2026-05-06)에서 CEO 레바티 아드바이티와 CFO 케빈 크럼이 구글을 하이퍼스케일러 다년 계약 고객으로 직접 명시했다. 계약금액은 공개되지 않았으며, 전력 인프라, 열관리, 복합 하드웨어 제조를 포괄한다. JP모건은 실적 발표 직후 목표주가를 큰 폭으로 상향했다.","note_en":"In the FY2026 Q4 earnings call (2026-05-06), CEO Revathi Advaithi and CFO Kevin Krumm directly named Google as a hyperscaler customer under a multi-year contract. The contract value was not disclosed; it spans power infrastructure, thermal systems and complex hardware manufacturing. J.P. Morgan sharply raised its price target immediately after the results.","sources":[{"stance":"mentions","publisher":"더 글로브 앤 메일 (뉴스와이어)","publisher_en":"The Globe and Mail (newswire)","kind":"research","lang":"en","published_at":"2026-05-08","url":"https://www.theglobeandmail.com/investing/markets/stocks/FLEX/pressreleases/1797922/jp-morgan-sticks-to-its-buy-rating-for-flex-flex/","title":"JP모건, 플렉스(FLEX) 매수 의견 유지 및 목표주가 상향","title_en":"J.P. Morgan Sticks to Its Buy Rating for Flex (FLEX)","excerpt":"JP모건 애널리스트 새믹 채터지가 목표주가를 84달러에서 160달러로 상향하고 매수(Buy) 의견을 유지했다.","excerpt_en":"J.P. Morgan analyst Samik Chatterjee raised the price target to $160.00 from $84.00 and maintained a Buy rating on Flex (FLEX)."},{"stance":"confirms","publisher":"더 모틀리 풀","publisher_en":"The Motley Fool","kind":"news","lang":"en","published_at":"2026-05-06","url":"https://www.fool.com/earnings/call-transcripts/2026/05/06/flex-flex-q4-2026-earnings-call-transcript/","title":"Flex(FLEX) FY2026 4분기 실적발표 컨퍼런스콜 녹취록","title_en":"Flex (FLEX) Q4 2026 Earnings Call Transcript","excerpt":"CEO 레바티 아드바이티: '최근 여러 하이퍼스케일러 및 데이터센터 고객으로부터 상당한 추가 수주를 확보했으며, 여기에는 구글이 포함된다.' CFO 케빈 크럼: '구글과의 다년 계약을 포함해 여러 고객사와 중요한 사업을 확보했으며, 이는 FY27 CPI 65~75% 성장 전망의 근거다.'","excerpt_en":"Revathi Advaithi (CEO): \"We've recently secured substantial incremental business with several hyperscaler and data center customers, including Google.\" Kevin Krumm (CFO): \"We secured significant business with multiple customers, including a multiyear contract with Google, underpinning our strong CPI growth expectations of 65% to 75% in FY '27.\""}]},{"direction":"investment","counterparty":"젯쿨 테크놀로지스","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2024-11-14","basis":"AI 데이터센터용 액체냉각(마이크로컨벡티브 쿨링) 기술기업 인수","value":null,"period":"일회성 인수","basis_en":"Acquisition of AI data center liquid (microconvective) cooling technology company","qualifier":"confirmed_no_disclosed_value"},"note":"젯쿨은 데이터센터 GPU 랙 냉각용 정밀분사 액체냉각 기술 보유 기업으로, 인수 후 CPI(Cloud and Power Infrastructure) 부문 산하로 편입됐다. 인수 금액은 공개되지 않았다. 색인에 등재된 기존 노드가 아니다.","note_en":"JetCool holds precision-jet liquid cooling technology for data center GPU racks and was folded into the Cloud and Power Infrastructure (CPI) segment after the acquisition. The deal value was not disclosed. Not an existing node in the index.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-05-20","url":"https://www.sec.gov/Archives/edgar/data/866374/000086637426000012/flex-20260331.htm","title":"FLEX LTD. 10-K (FY2026, 2026-05-20 제출)","title_en":"FLEX LTD. Form 10-K (FY2026, filed 2026-05-20)","excerpt":"JetCool Technologies Inc.(2024년 11월 14일 인수), 취득 자산으로 기술 권리(developed technology rights)를 기재","excerpt_en":"JetCool Technologies Inc. (acquired November 14, 2024) - developed technology rights"},{"stance":"confirms","publisher":"PR 뉴스와이어","publisher_en":"PR Newswire","kind":"news","lang":"en","published_at":"2024-11-14","url":"https://www.prnewswire.com/news-releases/flex-acquires-jetcool-to-expand-data-center-and-power-portfolio-302306177.html","title":"플렉스, 데이터센터·전력 포트폴리오 확장 위해 젯쿨 인수","title_en":"Flex Acquires JetCool to Expand Data Center and Power Portfolio","excerpt":"플렉스 최고상무책임자 마이클 하퉁: '젯쿨의 첨단 액체냉각 기술을 더함으로써 고객들의 늘어난 전력, 열밀도, 냉각 요구에 대응하는 역량이 강화된다.'","excerpt_en":"Michael Hartung, President and Chief Commercial Officer of Flex: \"The addition of JetCool's advanced liquid cooling technology strengthens our ability to help customers address increased power, thermal density, and cooling requirements.\""}]},{"direction":"revenue","counterparty":"F5","counterparty_slug":"f5","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-11-25","basis":"Flex 위탁생산·부품조달·출하 비용","value":null,"period":"FY2025","basis_en":"Contract manufacturing, component procurement, and fulfillment spend with Flex","qualifier":"confirmed_no_disclosed_value"},"note":"플렉스는 F5의 주력 제3자 하드웨어 위탁생산사로서 멕시코 과달라하라와 중국 주하이에서 조립·품질관리·시험을 수행하고 부품 조달과 출하도 관리한다.","note_en":"Flex is F5's primary third-party hardware manufacturing partner, performing assembly, quality control, and systems testing in Guadalajara and Zhuhai while also managing component procurement and fulfillment.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/1048695/000104869525000157/ffiv-20250930.htm","title":"F5, Inc. 2025 회계연도 Form 10-K","title_en":"F5, Inc. Form 10-K for fiscal year 2025","excerpt":"F5는 Flex를 주력 제3자 제조 서비스 제공업체로 두고 하드웨어 시스템 생산을 위탁한다고 공시했다.","excerpt_en":"We outsource the manufacturing of our products to various manufacturing partners, including our primary third-party manufacturer service provider, Flex Ltd."},{"stance":"confirms","publisher":"F5","publisher_en":"F5","kind":"ir","lang":"en","published_at":"2025-04-24","url":"https://cdn.studio.f5.com/files/k6fem79d/production/5392ad1056bd12c9c668de6de9ea87fa7a637300.pdf","title":"F5 현대판 노예제·강제노동·인신매매 성명서, 2025 등록연도","title_en":"F5 Modern Slavery, Forced Labor and Human Trafficking Statement, 2025 Registry Year","excerpt":"F5는 최종 제품 조립을 멕시코 과달라하라와 중국 주하이의 Flex가 맡고, F5 생산용 부품 구매도 주로 Flex를 통해 이뤄진다고 밝혔다.","excerpt_en":"Our supply chain consists of a global network of electronic component suppliers, with final product assembly completed by Flex Ltd. in Guadalajara, Mexico and Zhuhai, China. Purchasing of components for F5 production is done primarily through Flex."}]},{"direction":"cost","counterparty":"LG전자","counterparty_slug":"lg-electronics","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2025-11-03","basis":"AI 데이터센터용 모듈형 냉각 솔루션 공동개발 업무협약(MOU). LG전자의 칠러·CDU·CRAH를 플렉스의 IT·전력 인프라와 결합","value":null,"period":"업무협약(MOU) 단계","basis_en":"MOU to co-develop modular data center cooling solutions, combining LG Electronics' chillers, CDUs and CRAHs with Flex's IT and power infrastructure","qualifier":"confirmed_no_disclosed_value"},"note":"MOU 단계로 구체적 조달 물량이나 금액은 공개되지 않았다. 플렉스가 모듈형 냉각 솔루션에 LG전자의 냉각 하드웨어를 결합해 판매한다는 점에서 비용(조달) 관계로 분류했으나, 계약 형태가 매출 배분 방식일 가능성도 배제할 수 없다(open_questions 참조).","note_en":"This is at the MOU stage; no procurement volume or contract value has been disclosed. Classified as a cost edge because Flex would integrate LG Electronics' cooling hardware into its modular solutions, though a revenue-sharing structure cannot be ruled out (see open_questions).","sources":[{"stance":"confirms","publisher":"서울경제","publisher_en":"Seoul Economic Daily","kind":"news","lang":"ko","published_at":"2025-11-04","url":"https://www.sedaily.com/NewsView/2H0BNXV7FX","title":"LG전자, 플렉스와 '모듈형 냉각' 공동 개발...AI 데이터센터 정조준","title_en":"LG Electronics and Flex to co-develop 'modular cooling', targeting AI data centers","excerpt":"LG전자와 플렉스는 2025년 11월 3일(현지시간) 미국 텍사스주 댈러스에서 LG전자의 칠러, 냉각수분배장치(CDU), 컴퓨터룸 공기처리장치(CRAH) 등을 플렉스의 IT·전력 인프라와 결합한 모듈형 데이터센터 냉각 솔루션을 공동 개발하는 업무협약(MOU)을 체결했다. 플렉스 마이클 하퉁 사장은 '데이터센터의 열 문제를 해결하는 최적의 냉각 솔루션을 고객들에게 제공할 것'이라고 밝혔다.","excerpt_en":"LG Electronics and Flex signed an MOU on November 3, 2025 in Dallas, Texas, to co-develop modular data center cooling solutions combining LG's chillers, coolant distribution units (CDUs) and computer room air handlers (CRAHs) with Flex's IT and power infrastructure."}]},{"direction":"cost","counterparty":"onsemi","counterparty_slug":"onsemi","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2022-10-13","basis":"데이터센터용 중간 버스 컨버터(IBC) 'BMR313' 공동개발. onsemi의 FD6000 디지털 컨트롤러 탑재","value":null,"period":"제품 공동개발","basis_en":"Co-developed the BMR313 intermediate bus converter for data centers, incorporating onsemi's FD6000 digital controller","qualifier":"confirmed_no_disclosed_value"},"note":"온세미와 공동 개발한 전력 모듈 제품으로, Flex Power Modules 사업부(현재 CPI 부문에 편입)가 데이터센터 전력 공급에 온세미의 반도체 컨트롤러를 채택했음을 보여준다. 구체적 구매 금액은 공개되지 않았다.","note_en":"This power module product, co-developed with onsemi, shows that Flex Power Modules (now part of the CPI segment) adopted onsemi's semiconductor controller for data center power supply. No specific purchase value was disclosed.","sources":[{"stance":"confirms","publisher":"플렉스","publisher_en":"Flex","kind":"ir","lang":"en","published_at":"2022-10-13","url":"https://flex.com/resources/new-ultra-small-intermediate-bus-converter-developed-together-with-onsemi","title":"onsemi와 공동 개발한 초소형 중간 버스 컨버터","title_en":"New ultra-small intermediate bus converter developed together with onsemi","excerpt":"플렉스 CTO 미카엘 아펠버그: '온세미와의 BMR313 공동 개발 협업을 통해 공간이 제한된 응용 분야에서 탁월한 전력 밀도를 달성할 수 있었다.' onsemi 총괄매니저 로베르토 게레로: 'Flex Power Modules의 BMR313과 onsemi의 FD6000은 클라우드에 전력을 공급하는 새로운 표준을 만들고 있다.'","excerpt_en":"Mikael Appelberg, Flex CTO: \"Our collaboration with onsemi in the development of the BMR313 has enabled us to achieve remarkable power density for demanding, space-constrained applications.\" Roberto Guerrero, onsemi General Manager: \"Flex Power Modules BMR313 and onsemi's FD6000 are setting a new standard in powering the cloud.\""}]},{"direction":"revenue","counterparty":"팔로알토 네트웍스","counterparty_slug":"palo-alto-networks","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2019-09-09","basis":"팔로알토 네트웍스가 자사 EMS(위탁생산) 협력사로 플렉스(구 플렉트로닉스)를 명시","value":null,"period":"제조위탁 관계(연차 금액 미공개)","basis_en":"Palo Alto Networks named Flex (formerly Flextronics) as its EMS manufacturing partner","qualifier":"confirmed_no_disclosed_value"},"note":"팔로알토 네트웍스는 2015~2019년 10-K에서 플렉스(구 플렉트로닉스)를 자사 EMS(위탁생산) 협력사로 명시했다. 2022년 팔로알토 네트웍스가 발행한 고객 사례에서도 플렉스가 자사 차세대 방화벽 제조사임을 재확인했다. 다만 팔로알토 네트웍스 2025년 10-K(FY2025)에는 제조사명이 더 이상 명시되지 않아, 관계가 현재도 동일한 형태로 지속되는지는 확인되지 않는다(open_questions 참조).","note_en":"Palo Alto Networks' 10-K filings from FY2015 through FY2019 named Flex (formerly Flextronics) as its EMS provider, and a 2022 Palo Alto Networks customer case study reaffirmed Flex as the manufacturer of its Next-Generation Firewalls. However, Palo Alto Networks' FY2025 10-K no longer names a specific manufacturer, so it is unconfirmed whether the relationship continues in the same form today (see open_questions).","sources":[{"stance":"confirms","publisher":"팔로알토 네트웍스","publisher_en":"Palo Alto Networks","kind":"news","lang":"en","published_at":"2022-12-01","url":"https://www.paloaltonetworks.com/customers/flex","title":"고객 사례: 플렉스","title_en":"Customer Story: Flex","excerpt":"\"Flex already had an established relationship with the company as a manufacturer of Palo Alto Networks Next-Generation Firewalls.\"","excerpt_en":"\"Flex already had an established relationship with the company as a manufacturer of Palo Alto Networks Next-Generation Firewalls.\""},{"stance":"confirms","publisher":"SEC EDGAR / Palo Alto Networks","publisher_en":"SEC EDGAR / Palo Alto Networks","kind":"filing","lang":"en","published_at":"2019-09-09","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756719000032/panw-7312019x10k.htm","title":"Palo Alto Networks, Inc. 10-K (FY2019, 2019-09-09 제출)","title_en":"Palo Alto Networks, Inc. Form 10-K (FY2019, filed 2019-09-09)","excerpt":"\"Our EMS provider is Flextronics International, Ltd. (\"Flex\"), who assembles our products using design specifications, quality assurance programs, and standards that we establish, and procures components and assembles our products based on our demand forecasts.\"","excerpt_en":"\"Our EMS provider is Flextronics International, Ltd. (\"Flex\"), who assembles our products using design specifications, quality assurance programs, and standards that we establish, and procures components and assembles our products based on our demand forecasts.\""}]},{"direction":"investment","counterparty":"일렉트리컬 파워 프로덕츠 (EP²)","counterparty_slug":null,"confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2026-05-05","basis":"전력 유틸리티(변전소 제어, 계전반 등) 포트폴리오 강화를 위한 인수","value":null,"period":"일회성 인수 (FY2026 중)","basis_en":"Acquisition to strengthen the power utility portfolio (substation controls, relay panels, etc.)","qualifier":"confirmed_no_disclosed_value"},"note":"변전소 제어, 계전반(릴레이 패널), 통합 제어건물 등 유틸리티급 전력 제품 포트폴리오 강화를 위한 인수. 플렉스 실적발표 자료에는 인수 시점이 '5월'로만 기재돼 정확한 날짜는 확인하지 못했다(FY2026 중이므로 2025년 5월로 추정).","note_en":"Acquisition to strengthen the utility-grade power products portfolio (substation controls, relay panels, integrated control buildings). Flex's earnings presentation gives only the month (\"May\") without an exact date; since this occurred within FY2026, it is presumed to be May 2025.","sources":[{"stance":"confirms","publisher":"플렉스 (투자자관계)","publisher_en":"Flex (Investor Relations)","kind":"ir","lang":"en","published_at":"2026-05-05","url":"https://s202.q4cdn.com/732614612/files/doc_earnings/2026/q4/presentation/Flex_EP_FY26Q4.pdf","title":"플렉스 FY26 4분기 실적발표 자료","title_en":"Flex Q4 FY26 Earnings Presentation","excerpt":"\"Acquired Electrical Power Products, Inc. (EP²) in May, strengthening Power utility portfolio... Utility-grade, specification-driven solutions support grid modernization and electrification.\"","excerpt_en":"\"Acquired Electrical Power Products, Inc. (EP²) in May, strengthening Power utility portfolio... Utility-grade, specification-driven solutions support grid modernization and electrification.\""}]}]}