{"slug":"resonac","name":"Resonac","name_en":"Resonac","ticker":"4004.T","updated_at":"2026-07-12T06:17:26.508+00:00","canonical":"https://valuechain.wiki/resonac","same_as":["https://finance.yahoo.com/quote/4004.T"],"citable":"밸류체인 그래프 기준 Resonac의 직접 연결 기업은 9곳(관계 기준 공급 0·매출 9)이고, 사슬을 2차까지 넓히면 34곳에 닿는다. 링크의 근거 출처는 16건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Resonac is directly linked to 9 companies (0 supply, 9 revenue relationships) and reaches 34 companies within two hops; the links are backed by 16 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"도쿄증시 · 반도체 후공정 소재 · ABF·HBM 소재 강자","kicker_en":"TSE · Back-end semiconductor materials · ABF film & HBM materials leader","lead":"어드밴스드 패키징의 상류 소재(ABF 절연필름·CMP 슬러리·고순도 가스·HBM용 NCF·TIM)에서 세계적 지위를 가진 후공정 소재사로, 반도체·전자재료 부문은 FY2025 코어영업익 1,084억엔(+47%)·EBITDA 마진 30.2%로 사상 최고 수준이다. 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Innotek","tier":1,"returns_yearly":{"2021":78.2,"2022":-22,"2023":-28.8,"2024":-22.1,"2025":66.8,"2026":204.6}},{"slug":"ase","name":"ASE테크놀로지","name_en":"ASE Technology","tier":1,"returns_yearly":{"2021":38.3,"2022":-12.8,"2023":60.9,"2024":10.1,"2025":65.6,"2026":167.6}},{"slug":"unimicron","name":"유니마이크론","name_en":"Unimicron","tier":1,"returns_yearly":{"2021":133.5,"2022":-30.2,"2023":35.2,"2024":-19.7,"2025":175.7,"2026":131.6}},{"slug":"amkor","name":"앰코테크놀로지","name_en":"Amkor Technology","tier":1,"returns_yearly":{"2021":65.6,"2022":-2.3,"2023":40.3,"2024":-20.8,"2025":55.9,"2026":79}},{"slug":"samsung-electronics","name":"삼성전자","name_en":"Samsung Electronics","tier":1,"returns_yearly":{"2021":-9,"2022":-14.2,"2023":20.9,"2024":-26.4,"2025":212.9,"2026":77.9}},{"slug":"tsmc","name":"TSMC","name_en":"TSMC","tier":1,"returns_yearly":{"2021":12.1,"2022":-36.7,"2023":42.3,"2024":92.6,"2025":55.9,"2026":43.6}},{"slug":"shinko","name":"신코덴키","name_en":"Shinko Electric Industries","tier":1,"returns_yearly":null}],"benefiting":[],"analysis":"투자 논점은 어드밴스드 패키징 사슬의 '공통 상류 소재'라는 병목형 지위다. 파운드리(TSMC·삼성), OSAT(ASE·앰코), 기판사(신코덴키·유니마이크론·AT&S·난야PCB·LG이노텍)라는 서로 경쟁하는 고객들이 동시에 레조낙 소재에 의존해, 한 고객을 잃어도 사슬의 다른 단계에서 수요가 메워지는 분산 구조다. 특히 HBM용 NCF·TIM과 ABF 필름에서 상위 점유를 쥐고 있어, AI 가속기의 고단 적층·HBM 증설이 소재 소모량을 직접 끌어올린다 — 장비 capex보다 웨이퍼·패키지 생산 '가동'에 연동되는 반복 매출이다. 위험은 후공정 감산·재고조정 국면에서 소재 소모가 먼저 둔화되고, 소재 가격이 원료(레진·금속) 비용에 눌린다는 점이다.","analysis_en":"The thesis is a bottleneck position as the 'common upstream material' of the advanced-packaging chain. Competing customers — foundries (TSMC, Samsung), OSATs (ASE, Amkor) and substrate makers (Shinko, Unimicron, AT&S, Nan Ya PCB, LG Innotek) — all depend on Resonac materials at once, so losing one customer is cushioned by demand elsewhere in the chain. It holds top share in HBM NCF/TIM and ABF film in particular, so AI-accelerator stacking and HBM expansion lift material consumption directly — recurring revenue tied to wafer/package 'running' rather than equipment capex. The risk is that in back-end cuts or inventory corrections material consumption slows first, and material prices are pressed by raw-input (resin, metals) costs.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"TSMC","counterparty_slug":"tsmc","confidence":"high","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"파운드리 1위 TSMC에 후공정 소재 공급, TSMC 우수성과상 수상 이력. TSMC 어드밴스드 패키징 확대의 소재 측 수혜.","note_en":"Supplies back-end materials to TSMC, the No.1 foundry, with a TSMC Excellent Performance Award; a materials-side beneficiary of TSMC's advanced-packaging expansion.","sources":[{"stance":"mentions","publisher":"골드만삭스·미즈호 등","publisher_en":"Goldman Sachs, Mizuho et al.","kind":"research","lang":"en","published_at":"2026-02-15","url":"https://www.marketscreener.com/quote/stock/RESONAC-HOLDINGS-CORPORAT-6491222/consensus/","title":"레조낙(4004) 애널리스트: 골드만삭스 Buy(목표가 ¥8,050) 커버리지 개시, 컨센서스 Buy","title_en":"Resonac (4004) analysts: Goldman Sachs initiates Buy (target ¥8,050); consensus Buy","excerpt":"골드만삭스가 레조낙 커버리지를 Buy·목표가 ¥8,050으로 개시. 미즈호는 Neutral로 두되 목표가를 ¥4,800→¥9,000으로 상향. 애널리스트 10인 Buy·0 Sell로 Outperform 컨센서스 — AI 후공정 소재(HBM용 NCF·감광성 필름) 수요가 반도체·전자재료 부문 이익을 사상 최고로 견인.","excerpt_en":"Goldman Sachs initiated coverage with Buy and a ¥8,050 target; Mizuho stayed Neutral but doubled its target to ¥9,000 from ¥4,800. Ten analysts Buy, zero Sell (Outperform consensus) — AI back-end materials (HBM NCF, photosensitive film) demand drives record Semiconductor & Electronic Materials profit."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, TSMC향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to TSMC."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. TSMC에 후공정 패키징 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies back-end packaging materials to TSMC (individual contracts/values undisclosed)."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"news","lang":"en","published_at":"2025-12-01","url":"https://www.resonac.com/news/2025/12/01/3669.html","title":"Resonac, TSMC 우수성과상 수상","title_en":"Resonac wins TSMC Excellent Performance Award","excerpt":"TSMC에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to TSMC."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"TSMC에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to TSMC."}]},{"direction":"revenue","counterparty":"ASE테크놀로지","counterparty_slug":"ase","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"세계 1위 OSAT ASE에 어드밴스드 패키징 소재 공급. OSAT 가동률이 오를수록 소재 소모가 늘어나는 물량 연동형 관계.","note_en":"Supplies advanced-packaging materials to ASE, the world's top OSAT; a volume-linked relationship where material consumption rises with OSAT utilization.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. ASE에 후공정 패키징 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies back-end packaging materials to ASE (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, ASE향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to ASE."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"news","lang":"en","published_at":"2025-12-01","url":"https://www.resonac.com/news/2025/12/01/3669.html","title":"Resonac, TSMC 우수성과상 수상","title_en":"Resonac wins TSMC Excellent Performance Award","excerpt":"ASE테크놀로지에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to ASE Technology."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"ASE테크놀로지에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to ASE Technology."}]},{"direction":"revenue","counterparty":"삼성전자","counterparty_slug":"samsung-electronics","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"삼성전자(파운드리·패키징)에 후공정 소재 공급. TSMC와 경쟁하는 고객을 동시에 확보한 공급원 중립성이 강점.","note_en":"Supplies back-end materials to Samsung (foundry/packaging); serving a customer that competes with TSMC gives it supplier neutrality.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. 삼성전자에 후공정 패키징 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies back-end packaging materials to 삼성전자 (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, 삼성전자향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to 삼성전자."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"news","lang":"en","published_at":"2025-12-01","url":"https://www.resonac.com/news/2025/12/01/3669.html","title":"Resonac, TSMC 우수성과상 수상","title_en":"Resonac wins TSMC Excellent Performance Award","excerpt":"삼성전자에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to Samsung Electronics."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"삼성전자에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to Samsung Electronics."}]},{"direction":"revenue","counterparty":"AT&S","counterparty_slug":"at-s","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"오스트리아 IC기판사 AT&S에 ABF·기판 소재 공급. HBM용 NCF·TIM에서도 레조낙이 상위 점유를 쥔다.","note_en":"Supplies ABF and substrate materials to Austria's AT&S; Resonac also holds top share in HBM NCF/TIM.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. AT&S에 ABF 기판 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies ABF substrate materials to AT&S (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, AT&S향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to AT&S."},{"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":"레조낙 HBM NCF·TIM 소재 상위 점유","excerpt_en":"Resonac leads HBM NCF/TIM materials"},{"stance":"confirms","publisher":"AT&S","publisher_en":"AT&S","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://ams.at-s.com/","title":"AT&S IR","title_en":"AT&S IR","excerpt":"AT&S에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to AT&S."},{"stance":"confirms","publisher":"EDINET/회사 IR","publisher_en":"EDINET / company IR","kind":"filing","lang":"ja","published_at":"2025-03-26","url":"https://www.resonac.com/sites/default/files/2025-03/2024%E6%9C%89%E4%BE%A1%E8%A8%BC%E5%88%B8%E5%A0%B1%E5%91%8A%E6%9B%B8.pdf","title":"resonac 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":"Intel Market Research","publisher_en":"IMR","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://www.intelmarketresearch.com/global-package-substrates-forecast-market-27111","title":"패키지 기판 시장(AT&S HBM/3D)","title_en":"Package substrate market (AT&S HBM/3D)","excerpt":"AT&S에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to AT&S."}]},{"direction":"revenue","counterparty":"난야PCB","counterparty_slug":"nanya-pcb","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"대만 난야PCB에 IC기판용 소재 공급 — 기판 채널 다변화의 한 축.","note_en":"Supplies IC-substrate materials to Taiwan's Nan Ya PCB — one axis of substrate-channel diversification.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. 난야PCB에 기판 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies substrate materials to 난야PCB (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, 난야PCB향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to 난야PCB."},{"stance":"confirms","publisher":"난야PCB","publisher_en":"Nan Ya PCB","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.npc.com.tw/npceb2b/en/","title":"Nan Ya PCB","title_en":"Nan Ya PCB","excerpt":"난야PCB에 기판 소재 공급.","excerpt_en":"Supplies substrate materials to Nan Ya PCB."},{"stance":"confirms","publisher":"MatrixBCG","publisher_en":"MatrixBCG","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://matrixbcg.com/blogs/growth-strategy/nanyapcb","title":"난야PCB AI·HPC 기판 전략","title_en":"Nan Ya PCB AI/HPC strategy","excerpt":"난야PCB에 기판 소재 공급.","excerpt_en":"Supplies substrate materials to Nan Ya PCB."}]},{"direction":"revenue","counterparty":"신코덴키","counterparty_slug":"shinko","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"일본 반도체 기판사 신코덴키에 ABF 필름·기판 소재 공급 — FC-BGA 기판 상류 소재 의존.","note_en":"Supplies ABF film and substrate materials to Japan's Shinko Electric — upstream material dependency for FC-BGA substrates.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. 신코덴키에 ABF 필름·기판 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies ABF film/substrate materials to 신코덴키 (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, 신코덴키향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to 신코덴키."},{"stance":"confirms","publisher":"신코덴키","publisher_en":"Shinko","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.shinko.co.jp/english/","title":"Shinko Electric","title_en":"Shinko Electric","excerpt":"신코덴키에 ABF 필름·기판 소재 공급.","excerpt_en":"Supplies ABF film and substrate materials to Shinko Electric Industries."},{"stance":"confirms","publisher":"Market Growth Reports","publisher_en":"MGR","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://www.marketgrowthreports.com/market-reports/abf-substrate-fc-bga-market-107527","title":"IC 기판 매출 1위 유니마이크론","title_en":"Unimicron leads IC-substrate revenue","excerpt":"신코덴키에 ABF 필름·기판 소재 공급.","excerpt_en":"Supplies ABF film and substrate materials to Shinko Electric Industries."}]},{"direction":"revenue","counterparty":"LG이노텍","counterparty_slug":"lg-innotek","confidence":"mid","metric":{"fy":2025,"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"LG이노텍 FC-BGA 기판 사업에 ABF·기판 소재 공급 — 국내 기판 신규 진입 고객.","note_en":"Supplies ABF and substrate materials to LG Innotek's FC-BGA substrate business — a newer Korean substrate customer.","sources":[{"stance":"confirms","publisher":"파이낸셜뉴스","publisher_en":"Financial News","kind":"news","lang":"ko","published_at":"2026-06-17","url":"https://www.fnnews.com/news/202606170709505720","title":"LG이노텍, 반도체 기판 5년내 영업익 1조","title_en":"LG Innotek targets KRW 1T from substrates","excerpt":"LG이노텍에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to LG Innotek."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문(AI 후공정 소재 견인). LG이노텍 기판 사업에 ABF·기판 소재 공급(개별 계약 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials segment (AI back-end materials driven). Supplies ABF/substrate materials to LG Innotek's substrate business (individual contracts undisclosed)."},{"stance":"confirms","publisher":"테크M","publisher_en":"TechM","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.techm.kr/news/articleView.html?idxno=134965","title":"LG이노텍·삼성전기 FC-BGA 경쟁","title_en":"LG Innotek and Samsung Electro-Mechanics compete in FC-BGA","excerpt":"LG이노텍에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to LG Innotek."}]},{"direction":"revenue","counterparty":"유니마이크론","counterparty_slug":"unimicron","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"대만 최대 IC기판사 유니마이크론에 ABF·기판 소재 공급 — 기판 캐파 증설에 소재 수요 연동.","note_en":"Supplies ABF and substrate materials to Unimicron, Taiwan's largest IC-substrate maker — material demand tied to substrate capacity expansion.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. 유니마이크론에 ABF·기판 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies ABF/substrate materials to 유니마이크론 (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, 유니마이크론향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to 유니마이크론."},{"stance":"confirms","publisher":"유니마이크론","publisher_en":"Unimicron","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.unimicron.com/en/","title":"Unimicron IR","title_en":"Unimicron IR","excerpt":"유니마이크론에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to Unimicron."},{"stance":"confirms","publisher":"Market Growth Reports","publisher_en":"MGR","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://www.marketgrowthreports.com/market-reports/abf-substrate-fc-bga-market-107527","title":"IC 기판 매출 1위 유니마이크론","title_en":"Unimicron leads IC-substrate revenue","excerpt":"유니마이크론에 ABF·기판 소재 공급.","excerpt_en":"Supplies ABF and substrate materials to Unimicron."}]},{"direction":"revenue","counterparty":"앰코테크놀로지","counterparty_slug":"amkor","confidence":"mid","metric":{"ai_share_pct":20,"core_oi_yoy_pct":47,"ebitda_margin_pct":30.2,"segment_core_oi_jpy_bn":108.4},"note":"북미권 대형 OSAT 앰코에 패키징 소재 공급 — ASE와 함께 OSAT 채널의 양대 고객.","note_en":"Supplies packaging materials to Amkor, a large OSAT with a US footprint — with ASE, one of the two OSAT-channel anchors.","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.resonac.com/sites/default/files/2026-02/e_tanshin2025q4.pdf","title":"레조낙 FY2025 연결 결산단신(IFRS)","title_en":"Resonac FY2025 Consolidated Financial Results (IFRS)","excerpt":"레조낙 반도체·전자재료 부문 FY2025 코어영업익 ¥1,084억(+47%)·EBITDA 마진 30.2%. HBM 등 AI 후공정 소재(NCF 다이본딩·감광성 필름) 비중 10→20%. 앰코에 후공정 패키징 소재 공급(개별 계약·금액 미공시).","excerpt_en":"Resonac Semiconductor & Electronic Materials FY2025 core operating income JPY 108.4bn (+47%), 30.2% EBITDA margin; AI back-end materials (NCF die-bonding, photosensitive films for HBM etc.) share rose 10%→20%. Supplies back-end packaging materials to 앰코 (individual contracts/values undisclosed)."},{"stance":"mentions","publisher":"실적 브리핑","publisher_en":"Earnings briefing","kind":"news","lang":"en","published_at":"2026-02-13","url":"https://finance.biggo.com/news/JP_4004.T_2026-02-13","title":"레조낙 FY2025 실적: 반도체·전자재료 사상 최고 이익, AI 후공정 소재 견인","title_en":"Resonac FY2025: Semiconductor & Electronic Materials record profit, driven by AI back-end materials","excerpt":"AI 후공정 소재 수요로 반도체·전자재료 부문 사상 최고 이익, 앰코향 포함 첨단 패키징 소재 출하 증가.","excerpt_en":"Record segment profit on AI back-end materials demand, with rising advanced-packaging shipments including to 앰코."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"news","lang":"en","published_at":"2025-12-01","url":"https://www.resonac.com/news/2025/12/01/3669.html","title":"Resonac, TSMC 우수성과상 수상","title_en":"Resonac wins TSMC Excellent Performance Award","excerpt":"앰코테크놀로지에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to Amkor Technology."},{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"앰코테크놀로지에 패키징 소재 공급.","excerpt_en":"Supplies packaging materials to Amkor Technology."}]},{"direction":"cost","counterparty":"부품·소재·R&D (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"패키징 소재 제조용 부품·소재·R&D(비공개).","note_en":"Parts, materials and R&D (undisclosed).","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"패키징 소재 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":"생산 설비·인프라 투자(비공개).","note_en":"Production equipment and infrastructure (undisclosed).","sources":[{"stance":"confirms","publisher":"레조낙","publisher_en":"Resonac","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.resonac.com/investors","title":"Resonac IR","title_en":"Resonac IR","excerpt":"생산 설비·인프라 투자(비공개).","excerpt_en":"Production equipment and infrastructure (undisclosed)."}]}]}