{"slug":"ibiden","name":"Ibiden","name_en":"Ibiden","ticker":"4062.T","updated_at":"2026-07-12T08:24:11.655949+00:00","canonical":"https://valuechain.wiki/ibiden","same_as":["https://finance.yahoo.com/quote/4062.T"],"citable":"밸류체인 그래프 기준 Ibiden의 직접 연결 기업은 4곳(관계 기준 공급 1·매출 3)이고, 사슬을 2차까지 넓히면 40곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Ibiden is directly linked to 4 companies (1 supply, 3 revenue relationships) and reaches 40 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"FC-BGA 패키지 기판 (ABF 서브스트레이트)","kicker_en":"FC-BGA package substrates (ABF)","lead":"고성능 FC-BGA(플립칩) 패키지 기판 세계 1위권(점유율 ~35%). 1999년 인텔을 첫 고객으로 ABF 기판을 양산했고, 현재 엔비디아 AI 가속기용 기판을 주도 공급. AI 가속기는 기판 층수가 8~18층으로 급증해 병목. ¥5,000억(약 4.7조원)을 엔비디아용 증설에 투자.","lead_en":"A global leader (~35% share) in high-end FC-BGA (flip-chip) package substrates. Mass-produced ABF substrates with Intel as its first customer in 1999; now a leading supplier for NVIDIA AI accelerators. AI accelerators need 8–18 substrate layers, making it a bottleneck. Investing ¥500B (~$3.3B) to expand NVIDIA capacity.","segments":{"fy":2026,"parts":[{"name":"IC 패키지 기판 (FC-BGA)","share":"세계 ~35% (1위권)"},{"name":"세라믹·기타"}],"total":"FY2026(2026.3期) 매출 4,162억엔(+12.7%)·영업익 620억엔(+30.3%) — 전자(FC-BGA) +23.4% 견인","concentration":"인텔(1999~)·엔비디아·AMD. 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되돌림이 먼저 오는 자리다. 연결 노드 중 가장 앞선 곳은 인텔(+205%), 가장 처진 곳은 엔비디아(+8.7%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다. 인텔(1999~)·엔비디아·AMD. AI 기판 병목.","analysis_en":"Ibiden operates across FC-BGA package substrates (ABF). It surged +261% in 2025 and +147.1% in 2026. The stock (+147.1%) is ahead of both its demand side (avg +123%) and supply side (avg +63.7%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is Intel (+205%) and the furthest behind is NVIDIA (+8.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Investing ¥500B (~$3.3B) to expand NVIDIA capacity.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"Intel","counterparty_slug":"intel","confidence":"high","metric":{"type":"share","unit":"%","basis":"FC-BGA 기판 세계 점유율","value":35,"period":"2024","basis_en":"global FC-BGA share"},"note":"Intel에 FC-BGA 패키지 기판 공급.","note_en":"Supplies FC-BGA package substrates to Intel.","sources":[{"stance":"confirms","publisher":"이비덴","publisher_en":"IBIDEN","kind":"filing","lang":"en","published_at":"2026-05-05","url":"https://www.ibiden.com/ir/library/statement/","title":"이비덴 FY2026(2026.3期) 연결 결산","title_en":"IBIDEN FY2026 (year ended March 2026) Consolidated Results","excerpt":"이비덴 FY2026 매출 4,162억엔(+12.7%)·영업익 620억엔(+30.3%). 전자(FC-BGA) 매출 +23.4%·영업익 +68.5% 견인.","excerpt_en":"IBIDEN FY2026 net sales JPY 416.2bn (+12.7%), operating profit JPY 62.0bn (+30.3%); Electronics (FC-BGA) +23.4% sales, +68.5% profit."},{"stance":"confirms","publisher":"자본시장뉴스","publisher_en":"Jabon","kind":"news","lang":"ko","published_at":"2026-02-01","url":"https://www.jabon.co.kr/news/articleView.html?idxno=926","title":"이비덴, 4.7조원 베팅…엔비디아용 AI 기판 증설","title_en":"Ibiden bets ¥500B to expand NVIDIA AI substrates","excerpt":"엔비디아용 AI 기판 4.7조원 증설.","excerpt_en":"¥500B expansion for NVIDIA AI substrates."},{"stance":"confirms","publisher":"이비덴 / EDINET","publisher_en":"Ibiden / EDINET","kind":"filing","lang":"ja","published_at":"2025-06-20","url":"https://www.ibiden.co.jp/ir/library/securities/","title":"이비덴 有価証券報告書 (제172기, 2025.3)","title_en":"Ibiden Annual Securities Report (FY ended Mar 2025)","excerpt":"有報: IC 패키지 기판 매출·고객.","excerpt_en":"Annual Securities Report: IC package-substrate revenue and customers."},{"stance":"confirms","publisher":"이비덴","publisher_en":"Ibiden","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.ibiden.com/ir/","title":"이비덴 IR","title_en":"Ibiden Investor Relations","excerpt":"IR: IC 패키지 기판 매출.","excerpt_en":"IR: IC package-substrate revenue."},{"stance":"confirms","publisher":"디지타임스","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-01-02","url":"https://www.digitimes.com/news/a20250102PD221/ibiden-ic-substrate-demand-market-intel-nvidia.html","title":"이비덴, 인텔·엔비디아와 AI 기판 독점적 지위","title_en":"Ibiden’s exclusive AI-substrate position with Intel and NVIDIA","excerpt":"인텔·엔비디아에 FC-BGA 독점적 공급.","excerpt_en":"Exclusive FC-BGA supply to Intel and NVIDIA."}]},{"direction":"revenue","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"high","metric":null,"note":"NVIDIA에 FC-BGA 패키지 기판 공급.","note_en":"Supplies FC-BGA package substrates to NVIDIA.","sources":[{"stance":"confirms","publisher":"자본시장뉴스","publisher_en":"Jabon","kind":"news","lang":"ko","published_at":"2026-02-01","url":"https://www.jabon.co.kr/news/articleView.html?idxno=926","title":"이비덴, 4.7조원 베팅…엔비디아용 AI 기판 증설","title_en":"Ibiden bets ¥500B to expand NVIDIA AI substrates","excerpt":"엔비디아용 AI 기판 4.7조원 증설.","excerpt_en":"¥500B expansion for NVIDIA AI substrates."},{"stance":"confirms","publisher":"이비덴","publisher_en":"Ibiden","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.ibiden.com/ir/","title":"이비덴 IR","title_en":"Ibiden Investor Relations","excerpt":"IR: IC 패키지 기판 매출.","excerpt_en":"IR: IC package-substrate revenue."},{"stance":"confirms","publisher":"디지타임스","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-01-02","url":"https://www.digitimes.com/news/a20250102PD221/ibiden-ic-substrate-demand-market-intel-nvidia.html","title":"이비덴, 인텔·엔비디아와 AI 기판 독점적 지위","title_en":"Ibiden’s exclusive AI-substrate position with Intel and NVIDIA","excerpt":"인텔·엔비디아에 FC-BGA 독점적 공급.","excerpt_en":"Exclusive FC-BGA supply to Intel and NVIDIA."}]},{"direction":"cost","counterparty":"Ajinomoto","counterparty_slug":"ajinomoto","confidence":"high","metric":null,"note":"기판 층간 절연막을 아지노모토 ABF에서 조달(사실상 단독).","note_en":"Sources interlayer dielectric (ABF) from Ajinomoto (near sole source).","sources":[{"stance":"confirms","publisher":"TradingKey","publisher_en":"TradingKey","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.tradingkey.com/analysis/stocks/us-stocks/261783966-abf-ajinomoto-nvidia-ai-supply-chain-tradingkey","title":"ABF: 모든 AI 서버 기판 속 아지노모토 필름(80~90% 독점)","title_en":"ABF: Ajinomoto film inside every AI-server substrate (80-90%)","excerpt":"기판 층간 절연막을 아지노모토 ABF에서 조달(사실상 단독).","excerpt_en":"Sources interlayer dielectric (ABF) from Ajinomoto (near sole source)."}]},{"direction":"revenue","counterparty":"AMD","counterparty_slug":"amd","confidence":"mid","metric":{"fy":2026,"op_jpy_bn":62,"revenue_jpy_bn":416.2,"revenue_yoy_pct":12.7,"electronics_sales_yoy_pct":23.4},"note":"AMD에 FC-BGA 패키지 기판 공급.","note_en":"Supplies FC-BGA package substrates to AMD.","sources":[{"stance":"confirms","publisher":"이비덴","publisher_en":"IBIDEN","kind":"filing","lang":"en","published_at":"2026-05-05","url":"https://www.ibiden.com/ir/library/statement/","title":"이비덴 FY2026(2026.3期) 연결 결산","title_en":"IBIDEN FY2026 (year ended March 2026) Consolidated Results","excerpt":"이비덴 FY2026 매출 4,162억엔(+12.7%)·영업익 620억엔(+30.3%). 전자(FC-BGA) 매출 +23.4%·영업익 +68.5% 견인.","excerpt_en":"IBIDEN FY2026 net sales JPY 416.2bn (+12.7%), operating profit JPY 62.0bn (+30.3%); Electronics (FC-BGA) +23.4% sales, +68.5% profit."},{"stance":"confirms","publisher":"자본시장뉴스","publisher_en":"Jabon","kind":"news","lang":"ko","published_at":"2026-02-01","url":"https://www.jabon.co.kr/news/articleView.html?idxno=926","title":"이비덴, 4.7조원 베팅…엔비디아용 AI 기판 증설","title_en":"Ibiden bets ¥500B to expand NVIDIA AI substrates","excerpt":"엔비디아용 AI 기판 4.7조원 증설.","excerpt_en":"¥500B expansion for NVIDIA AI substrates."},{"stance":"confirms","publisher":"이비덴","publisher_en":"Ibiden","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.ibiden.com/ir/","title":"이비덴 IR","title_en":"Ibiden Investor Relations","excerpt":"IR: IC 패키지 기판 매출.","excerpt_en":"IR: IC package-substrate revenue."},{"stance":"confirms","publisher":"디지타임스","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-01-02","url":"https://www.digitimes.com/news/a20250102PD221/ibiden-ic-substrate-demand-market-intel-nvidia.html","title":"이비덴, 인텔·엔비디아와 AI 기판 독점적 지위","title_en":"Ibiden’s exclusive AI-substrate position with Intel and NVIDIA","excerpt":"인텔·엔비디아에 FC-BGA 독점적 공급.","excerpt_en":"Exclusive FC-BGA supply to Intel and NVIDIA."}]},{"direction":"cost","counterparty":"빌드업·도금 장비 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"기판 빌드업·도금·레이저 장비 투자(비공개).","note_en":"Build-up, plating and laser equipment (undisclosed).","sources":[{"stance":"mentions","publisher":"이비덴","publisher_en":"Ibiden","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.ibiden.com/ir/","title":"이비덴 IR","title_en":"Ibiden Investor Relations","excerpt":"설비투자.","excerpt_en":"Capex."}]},{"direction":"cost","counterparty":"ABF 필름·동박 (아지노모토 등, 비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"빌드업 절연 ABF 필름(아지노모토)·동박 매입.","note_en":"Buys ABF build-up film (Ajinomoto) and copper foil.","sources":[{"stance":"mentions","publisher":"디지타임스","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-01-02","url":"https://www.digitimes.com/news/a20250102PD221/ibiden-ic-substrate-demand-market-intel-nvidia.html","title":"이비덴, 인텔·엔비디아와 AI 기판 독점적 지위","title_en":"Ibiden’s exclusive AI-substrate position with Intel and NVIDIA","excerpt":"ABF 소재 의존.","excerpt_en":"Depends on ABF material."}]}]}