Ibiden
ConvictionContext
B2B advanced-manufacturing supplier; sells high-layer-count package substrates to CPU/GPU/ASIC makers and OSATs, increasingly under multi-year customer-financed capacity contracts (advance payments); secondary ceramics segment sells DPF/GPF filters and SiC to automakers.
Revenue
~$2.6BJPY 416.2B, FY ended Mar 2026Rev growth
+12.7% YoYFY ended Mar 2026 vs prior year JPY 369.4BGross margin
~31.6%FY ended Mar 2026Op margin
~14.9%JPY 62.0B company-reported OP, FY ended Mar 2026Capex intensity
Very high -- ~JPY 500B electronics capex program committed over FY-Mar-2026 to FY-Mar-2028~1.2x a single year's revenueMarket cap
~$37BJPY 5.97T; TSE:4062, 2026-07-07The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence