# Who are Fujikura's customers? Who does Fujikura earn revenue from?
Canonical: https://valuechain.wiki/fujikura · Facet: customers · Updated: 2026-07-12T03:24:36.716+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Fujikura's confirmed revenue counterparties include Apple (smartphone FPC / electronic components), NTT (Japan telecom infrastructure, optical fiber) plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 3 revenue edges, backed by 8 dated sources, 1 of them primary filings (as of 2026-07-12).

### 하이퍼스케일러·AI 데이터센터 (광케이블) (high)
- metric: net sales 653 JPY_bn · FY ended Mar2026
- note: As AI data centers scale GPU clusters, demand for server/rack optical cabling (SWR, WTC) and fusion splicers compounds — so the Information & Communication unit alone generated FY2026 OP of JPY 152.7bn (+65.7%), over 80% of group OP. The point is that demand outran capacity and Fujikura is raising prices: this is the early, supplier-favored phase of the cycle where everything it can make, it sells. The CEO says Fujikura takes orders from 'almost all US hyperscalers' but named no client, so individual counterparties stay anonymous.
- [mentions] MarketScreener (12-analyst consensus) (EN, research, published 2026-07-01) https://www.marketscreener.com/quote/stock/FUJIKURA-LTD-6491074/consensus/: "Analyst consensus Strong Buy; avg 12-mo target ¥6,024.2 (12 analysts); Mizuho upgraded to Buy, SMBC Nikko raised target."
- [mentions] ConnectCX (EN, news, published 2026-06-01) https://connectcx.ai/fujikura-leverage-ai-dc-surge-for-a-computing-breakthrough/: "Surging GPU-interconnect fiber demand."
- [confirms] Alphabiz (KR) (KO, news, published 2026-05-20) https://alphabiz.co.kr/news/view/1065564184131236: "Fujikura unveiled a mid-term plan to invest up to JPY 260bn in fiber capacity for data-center demand."
- [confirms] W.Media (EN, news, published 2026-05-20) https://w.media/fujikura-to-triple-fiber-capacity-with-%C2%A5300bn-ai-push/: "Tripling SWR/WTC cable capacity; spend capped at ¥300bn."
- [confirms] Fujikura (TDnet financial results) (JA, filing, published 2026-05-14) https://japanir.jp/wp-content/uploads/2026/05/5803-20260514-01.pdf: "Information & Communication: sales +44.7% to JPY 653.0bn, OP +65.7% to JPY 152.7bn (generative-AI data center demand)."

### 애플 (스마트폰 FPC·전자부품) (mid)  → /apple.md
- metric: operating income 7.7 JPY_bn · FY ended Mar2026
- note: As a world top-5 FPC maker, Fujikura has supplied flexible printed circuits for iPhones (e.g., iPhone 12 Pro/Max) — but with its center of gravity shifting to optical cable, this is a shrinking legacy exposure. FY2026 Electronics OP was squeezed to JPY 7.7bn (-66.5%) by competition and a strong Thai baht, evidence that Apple-facing FPC no longer drives earnings and now partly offsets the Info & Comm boom.
- [confirms] Fujikura (TDnet financial results) (JA, filing, published 2026-05-14) https://japanir.jp/wp-content/uploads/2026/05/5803-20260514-01.pdf: "Electronics unit OP -66.5% to JPY 7.7bn (printed circuits, etc.)."
- [confirms] Fujikura (EN, news, published 2025-01-01) https://www.fpcl.fujikura.com/eng/: "Fujikura Printed Circuits is a world top-5 FPC manufacturer (>100 million pieces/month)."
- [confirms] iPhone Wired (JA, news, published 2020-10-01) https://iphonewired.com/news/12365/: "iPhone 12 Max and iPhone 12 Pro use Fujikura's flexible printed circuit board (FPCB)."

### NTT (일본 통신 인프라·광섬유) (mid)  → /nippon-telegraph-telephone.md
- note: A traditional optical-fiber/cable supplier and co-development partner for Japan's telecom backbone — with NTT and Hokkaido University it realized a >100-channel ultra-high-density fiber within a <250µm glass diameter. This domestic reference matters less for its own revenue than for what it proved: Fujikura's credibility in 'density' — the very qualification that now underwrites its hyperscaler high-density cable wins.
- [confirms] Fujikura (TDnet financial results) (JA, filing, published 2026-05-14) https://japanir.jp/wp-content/uploads/2026/05/5803-20260514-01.pdf: "The Information & Communication unit supplies optical fiber and cable, including for domestic telecom infrastructure."
- [confirms] NTT (EN, news, published 2016-05-16) https://group.ntt/en/newsrelease/2016/05/16/160516a.html: "NTT, Fujikura and Hokkaido University realized an optical fiber with more than 100 channels within a <250µm deployable glass diameter."

Reverse side: https://valuechain.wiki/fujikura/suppliers.md · Ripple: https://valuechain.wiki/fujikura/ripple.md

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Full node: https://valuechain.wiki/fujikura.md · JSON: https://valuechain.wiki/fujikura.json