{"slug":"shinko","name":"신코덴키","name_en":"Shinko Electric Industries","ticker":"6967.T","updated_at":"2026-07-12T06:23:25.613+00:00","canonical":"https://valuechain.wiki/shinko","same_as":["https://finance.yahoo.com/quote/6967.T"],"citable":"밸류체인 그래프 기준 신코덴키의 직접 연결 기업은 3곳(관계 기준 공급 1·매출 2)이고, 사슬을 2차까지 넓히면 12곳에 닿는다. 링크의 근거 출처는 7건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Shinko Electric Industries is directly linked to 3 companies (1 supply, 2 revenue relationships) and reaches 12 companies within two hops; the links are backed by 7 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"FC-BGA 패키지 기판 세계 2위","kicker_en":"World No.2 in FC-BGA substrates","lead":"FC-BGA 패키지 기판 세계 2위(점유율 약 18%). 후지쯔 계열로 CPU용 기판에 강하며 인텔·AMD에 공급. AI용 고층 기판으로 전환 중.","lead_en":"World No.2 in FC-BGA package substrates (~18% share). A Fujitsu affiliate strong in CPU substrates for Intel and AMD; transitioning to high-layer AI substrates.","segments":{"fy":2024,"parts":[{"name":"FC-BGA 패키지 기판 세계 2위"}],"total":"FC-BGA 패키지 기판 세계 2위(~18%, 이비덴과 양강) · 2025.6 상장폐지(JIC 컨소시엄 인수, 비상장)","source":"https://www.shinko.co.jp/english/","private":true},"segments_en":{"fy":2024,"parts":[{"name":"World No.2 in FC-BGA substrates"}],"total":"No.2 in FC-BGA package substrates (~18%, duopoly with Ibiden) · delisted Jun 2025 (JIC-consortium buyout, non-public)","private":true},"returns_yearly":null,"return_asof":null,"value_chain":{"leading":[{"slug":"planet-labs","name":"플래닛랩스","name_en":"Planet Labs","tier":3,"returns_yearly":{"2022":-29.3,"2023":-43.2,"2024":63.6,"2025":388.1,"2026":32.1}},{"slug":"starbucks","name":"Starbucks Corp","name_en":"Starbucks Corp","tier":3,"returns_yearly":{"2021":11.1,"2022":-13.2,"2023":-1.2,"2024":-2.5,"2025":-5.3,"2026":27.4}},{"slug":"johnson-controls","name":"존슨 컨트롤스","name_en":"Johnson 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Pharmaceuticals","tier":3,"returns_yearly":{"2022":-55,"2023":27.9,"2024":-31.4,"2025":-39.5,"2026":-13}},{"slug":"shopify","name":"Shopify","name_en":"Shopify","tier":3,"returns_yearly":{"2021":21.7,"2022":-74.8,"2023":124.4,"2024":36.5,"2025":51.4,"2026":-23.9}},{"slug":"palantir","name":"Palantir","name_en":"Palantir Technologies","tier":3,"returns_yearly":{"2021":-22.7,"2022":-64.7,"2023":167.4,"2024":340.5,"2025":135,"2026":-28.7}},{"slug":"servicenow","name":"ServiceNow","name_en":"ServiceNow","tier":3,"returns_yearly":{"2021":17.9,"2022":-40.2,"2023":82,"2024":50.1,"2025":-27.7,"2026":-29.7}},{"slug":"openai","name":"OpenAI","name_en":"OpenAI","tier":3,"returns_yearly":null},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"dell","name":"Dell","name_en":"Dell Technologies","tier":2,"returns_yearly":{"2021":51.2,"2022":-26.6,"2023":95.9,"2024":53,"2025":11.2,"2026":248.1}},{"slug":"lenovo","name":"Lenovo","name_en":"Lenovo","tier":2,"returns_yearly":{"2021":-4.6,"2022":-20.9,"2023":36.2,"2024":18.2,"2025":-0.6,"2026":175.7}},{"slug":"hpe","name":"HPE","name_en":"Hewlett Packard Enterprise","tier":2,"returns_yearly":{"2021":37.4,"2022":4.5,"2023":9.7,"2024":29.1,"2025":15.5,"2026":104}},{"slug":"mercury-systems","name":"Mercury Systems","name_en":"Mercury Systems","tier":2,"returns_yearly":{"2021":-37.5,"2022":-18.7,"2023":-18.3,"2024":14.8,"2025":73.8,"2026":47.9}},{"slug":"asustek","name":"에이수스(ASUS)","name_en":"ASUSTeK Computer","tier":2,"returns_yearly":{"2021":35.5,"2022":-12.9,"2023":72,"2024":41.1,"2025":-14.1,"2026":46.7}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":2,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"meta","name":"메타 플랫폼스","name_en":"Meta Platforms","tier":2,"returns_yearly":{"2021":23.1,"2022":-64.2,"2023":194.1,"2024":66,"2025":13.1,"2026":1.6}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":2,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":-20}},{"slug":"oracle","name":"Oracle","name_en":"Oracle","tier":2,"returns_yearly":{"2021":36.9,"2022":-4.6,"2023":30.9,"2024":60,"2025":18.1,"2026":-27.4}},{"slug":"intel","name":"Intel","name_en":"Intel","tier":1,"returns_yearly":{"2021":6.1,"2022":-46.6,"2023":94.6,"2024":-59.6,"2025":84,"2026":197.7}},{"slug":"amd","name":"AMD","name_en":"AMD","tier":1,"returns_yearly":{"2021":56.9,"2022":-55,"2023":127.6,"2024":-18.1,"2025":77.3,"2026":160.5}}],"benefiting":[{"slug":"resonac","name":"Resonac","name_en":"Resonac","tier":1,"returns_yearly":{"2021":-2.6,"2022":-4,"2023":37.5,"2024":30.3,"2025":137.9,"2026":80.4}}],"analysis":"신코덴키의 논점은 'FC-BGA 기판 병목의 2위 공급자(비상장 전환)'다. 고급 CPU·서버 기판에서 이비덴과 양강(신코 ~18%)을 이루며 인텔 의존이 크고, AI·HPC 칩의 대면적·고층 FC-BGA 전환이 곧 기판 수요다. 2025년 6월 JIC 컨소시엄(JICC-04, DNP·미쓰이화학 참여) 인수로 상장폐지돼 비상장이 됐고 — 이는 후공정 소재·기판 공급망을 일본 국부펀드·소재사 축으로 재편하려는 구조적 움직임이다. 관건은 AI 패키징 수요의 강도와, 인텔 CPU 사이클·비상장 하 투자 여력이다. 비상장이라 개별 재무는 공개되지 않는다.","analysis_en":"Shinko's thesis is 'the No.2 supplier in the FC-BGA substrate bottleneck, now taken private.' It forms a duopoly with Ibiden (~18% share) in high-end CPU/server substrates with heavy Intel dependence, and the shift of AI/HPC chips to large-area, high-layer FC-BGA is the substrate demand. In June 2025 a JIC consortium (JICC-04, with DNP and Mitsui Chemicals) acquired and delisted it — a structural move to reshape the backend materials/substrate supply chain around Japan's sovereign fund and materials makers. What matters is the strength of AI-packaging demand and, under private ownership, the Intel CPU cycle and investment capacity. Being non-public, individual financials are not disclosed.","analysis_asof":"2026-07-12"},"edges":[{"direction":"revenue","counterparty":"Intel","counterparty_slug":"intel","confidence":"high","metric":{"fy":2024,"type":"share","unit":"%","basis":"FC-BGA 기판 세계 점유율","value":18,"period":"2024","basis_en":"global FC-BGA share","delisted":"2025-06-06","nonpublic":true,"fc_bga_rank":2,"duopoly_with":"ibiden","fc_bga_share_pct":18},"note":"Intel에 FC-BGA 패키지 기판 공급/제공.","note_en":"Provides FC-BGA package substrates to Intel.","sources":[{"stance":"confirms","publisher":"EDINET/회사 IR","publisher_en":"EDINET / company IR","kind":"filing","lang":"ja","published_at":"2025-06-25","url":"https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100W56G.pdf","title":"shinko 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(신코 기판)","excerpt_en":"Japan supplier reliance (Shinko substrates)"},{"stance":"confirms","publisher":"Japan Exchange Group","publisher_en":"Japan Exchange Group","kind":"filing","lang":"en","published_at":"2025-05-20","url":"https://www.jpx.co.jp/english/news/1023/20250520-11.html","title":"신코덴키, 도쿄증권거래소 상장폐지 결정(2025.6.6)","title_en":"Shinko Electric — decision on delisting from Tokyo Stock Exchange (Jun 6, 2025)","excerpt":"신코덴키는 JIC 컨소시엄(JICC-04, DNP·미쓰이화학 참여)의 공개매수(2025.3 완료)로 100% 인수돼 2025.6.6 도쿄증권거래소 상장폐지 — 비상장. FC-BGA 고급 기판은 이비덴(1위)·신코(2위 ~18%) 양강 구조로, CPU 기판(후지쯔 계열 강점)에서 인텔 의존이 크고 AI·HPC용 고층 기판 전환이 수요 축. 비상장이라 개별 재무·고객 매출은 미공개.","excerpt_en":"Shinko was fully acquired via a JIC-consortium (JICC-04, with DNP and Mitsui Chemicals) tender offer (completed Mar 2025) and delisted from the Tokyo Stock Exchange on Jun 6, 2025 — now non-public. High-end FC-BGA is an Ibiden (No.1) / Shinko (No.2, ~18%) duopoly; strong in CPU substrates (Fujitsu heritage) with heavy Intel dependence, and the shift to high-layer AI/HPC substrates is the demand axis. Being non-public, individual financials and per-customer revenue are undisclosed."},{"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":"Intel에 FC-BGA 패키지 기판 공급/제공.","excerpt_en":"Provides FC-BGA package substrates to Intel."},{"stance":"confirms","publisher":"DigiTimes","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-03-21","url":"https://www.digitimes.com/news/a20250321PD206/shinko-electric-mitsui-chemicals-materials-partnership-fujitsu.html","title":"신코덴키 6월 상장폐지, DNP·미쓰이화학과 후공정 소재 제휴","title_en":"Shinko Electric to delist in June; DNP and Mitsui Chemicals backend-materials partnership","excerpt":"신코덴키 6월 상장폐지 확정, DNP·미쓰이화학과 후공정 소재 제휴 — 후지쯔 IC 기판 자회사.","excerpt_en":"Shinko's June delisting confirmed, with a DNP/Mitsui Chemicals backend-materials partnership — a Fujitsu IC-substrate subsidiary."},{"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":"Intel에 FC-BGA 패키지 기판 공급/제공.","excerpt_en":"Provides FC-BGA package substrates to Intel."}]},{"direction":"investor","counterparty":"DNP·JIC (다이니폰인쇄·일본정부펀드)","counterparty_slug":null,"confidence":"high","metric":null,"note":"JIC 캐피탈(JICC-04)이 주도한 컨소시엄이 공개매수(2025.3 완료)로 신코덴키를 100% 인수, 2025.6.6 상장폐지 — DNP·미쓰이화학이 후공정 소재 파트너로 참여. 후지쯔 계열에서 JIC 산하 비상장으로 지배구조 이전.","note_en":"A consortium led by JIC Capital (JICC-04) fully acquired Shinko via a tender offer (completed Mar 2025), delisting it on Jun 6, 2025 — with DNP and Mitsui Chemicals as backend-materials partners. Control moved from Fujitsu-affiliated to non-public under JIC.","sources":[{"stance":"confirms","publisher":"Japan Exchange Group","publisher_en":"Japan Exchange Group","kind":"filing","lang":"en","published_at":"2025-05-20","url":"https://www.jpx.co.jp/english/news/1023/20250520-11.html","title":"신코덴키, 도쿄증권거래소 상장폐지 결정(2025.6.6)","title_en":"Shinko Electric — decision on delisting from Tokyo Stock Exchange (Jun 6, 2025)","excerpt":"신코덴키 상장폐지 결정(2025.6.6) — JICC-04 공개매수 완료 후 주식병합.","excerpt_en":"Decision on Shinko's delisting (Jun 6, 2025) after JICC-04's completed tender offer and share consolidation."},{"stance":"confirms","publisher":"키포스트","publisher_en":"KIPOST","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.kipost.net/news/articleView.html?idxno=321967","title":"JIC·DNP의 신코덴키 인수","title_en":"JIC and DNP acquire Shinko Electric","excerpt":"다이니폰인쇄(DNP)와 JIC가 신코덴키 인수.","excerpt_en":"DNP and JIC acquired Shinko Electric."}]},{"direction":"revenue","counterparty":"AMD","counterparty_slug":"amd","confidence":"mid","metric":{"fy":2024,"delisted":"2025-06-06","nonpublic":true,"fc_bga_rank":2,"duopoly_with":"ibiden","fc_bga_share_pct":18},"note":"AMD에 FC-BGA 패키지 기판 공급/제공.","note_en":"Provides FC-BGA package substrates to AMD.","sources":[{"stance":"confirms","publisher":"Japan Exchange Group","publisher_en":"Japan Exchange Group","kind":"filing","lang":"en","published_at":"2025-05-20","url":"https://www.jpx.co.jp/english/news/1023/20250520-11.html","title":"신코덴키, 도쿄증권거래소 상장폐지 결정(2025.6.6)","title_en":"Shinko Electric — decision on delisting from Tokyo Stock Exchange (Jun 6, 2025)","excerpt":"신코덴키는 JIC 컨소시엄(JICC-04, DNP·미쓰이화학 참여)의 공개매수(2025.3 완료)로 100% 인수돼 2025.6.6 도쿄증권거래소 상장폐지 — 비상장. FC-BGA 고급 기판은 이비덴(1위)·신코(2위 ~18%) 양강 구조로, CPU 기판(후지쯔 계열 강점)에서 인텔 의존이 크고 AI·HPC용 고층 기판 전환이 수요 축. 비상장이라 개별 재무·고객 매출은 미공개.","excerpt_en":"Shinko was fully acquired via a JIC-consortium (JICC-04, with DNP and Mitsui Chemicals) tender offer (completed Mar 2025) and delisted from the Tokyo Stock Exchange on Jun 6, 2025 — now non-public. High-end FC-BGA is an Ibiden (No.1) / Shinko (No.2, ~18%) duopoly; strong in CPU substrates (Fujitsu heritage) with heavy Intel dependence, and the shift to high-layer AI/HPC substrates is the demand axis. Being non-public, individual financials and per-customer revenue are undisclosed."},{"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":"AMD에 FC-BGA 패키지 기판 공급/제공.","excerpt_en":"Provides FC-BGA package substrates to AMD."},{"stance":"confirms","publisher":"DigiTimes","publisher_en":"DigiTimes","kind":"news","lang":"en","published_at":"2025-03-21","url":"https://www.digitimes.com/news/a20250321PD206/shinko-electric-mitsui-chemicals-materials-partnership-fujitsu.html","title":"신코덴키 6월 상장폐지, DNP·미쓰이화학과 후공정 소재 제휴","title_en":"Shinko Electric to delist in June; DNP and Mitsui Chemicals backend-materials partnership","excerpt":"신코덴키 6월 상장폐지 확정, DNP·미쓰이화학과 후공정 소재 제휴 — 후지쯔 IC 기판 자회사.","excerpt_en":"Shinko's June delisting confirmed, with a DNP/Mitsui Chemicals backend-materials partnership — a Fujitsu IC-substrate subsidiary."},{"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":"AMD에 FC-BGA 패키지 기판 공급/제공.","excerpt_en":"Provides FC-BGA package substrates to AMD."}]},{"direction":"cost","counterparty":"Resonac","counterparty_slug":"resonac","confidence":"mid","metric":null,"note":"Resonac에서 ABF 필름·기판 소재 매입.","note_en":"Buys ABF film and substrate materials from Resonac.","sources":[{"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":"Resonac에서 ABF 필름·기판 소재 매입.","excerpt_en":"Buys ABF film and substrate materials from Resonac."},{"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":"Resonac에서 ABF 필름·기판 소재 매입.","excerpt_en":"Buys ABF film and substrate materials from Resonac."}]},{"direction":"cost","counterparty":"동박·빌드업 소재 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"제조용 원재료·소재·R&D(비공개).","note_en":"Materials and R&D (undisclosed).","sources":[{"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":"제조용 원재료·소재·R&D(비공개).","excerpt_en":"Materials and R&D (undisclosed)."}]}]}