Ajinomoto Co., Inc. · TSE:2802
Ajinomoto — Corporate Update (June 2019)
19 slides from Ajinomoto's corporate update, Jun 12, 2019
Slide 1: Electronic Materials Business Briefing
Electronic Materials Business Briefing June 12, 2019 Tadahiko Yokota, President, Ajinomoto Fine-Techno Co., Inc.
Slide 2: Agenda: Overview, Development of ABF, Business Update
I. Overview of Ajinomoto Fine-Techno Co., Inc. II. Development of Ajinomoto Build-up Film® (ABF) Ⅲ. Electronic Materials Business Update Copyright © 2019 Ajinomoto Co., Inc. All rights reserved.
Slide 3: Overview of Ajinomoto Fine-Techno Co., Inc.
I. Overview of Ajinomoto Fine-Techno Co., Inc. Founded: September 1942 Common stock: ¥315 million Functional Materials Division Employees: 295 (as of April 1, 2019) Adhesives Dispersing agents One-component epoxy resin curing agents Electronic Materials Division Flame retardants ABF Activated Carbon
Slide 4: Section II: Development of Ajinomoto Build-up Film (ABF)
I. Overview of Ajinomoto Fine-Techno Co., Inc. II. Development of Ajinomoto Build-up Film® (ABF) Ⅲ. Electronic Materials Business Update Copyright © 2019 Ajinomoto Co., Inc. All rights reserved.
Slide 5: Origin of Electronic Materials Business
II-1. Origin of Electronic Materials Business Synthesized MSG – Effective utilization of intermediate Extraction (pre-war to early post-war) Soybeans Glutamate MSG Wheat ↓ Synthesis (1960s) Epoxy resin Intermediate curing agent Led to current electronic Caustic soda materials business ↓ Salt Chlorin
Slide 6: Origin of Electronic Materials Business: ABF advent in 1999
II-2. Origin of Electronic Materials Business Interlayer insulating material for semiconductor packaging has its origins in technology used to develop epoxy resin curing agent 1950s 1999: Advent of Ajinomoto Build-up Film® (ABF), an R&D on MSG interlayer insulating material for semiconductor packagi
Slide 7: Background of ABF's Development
II-3. Background of ABF’s Development Two major turning points in latter half of 1990s: Ceramic ⇒ Plastic Wire bonding ⇒ Flip chip connection Enabled higher-density interconnects, higher-speed signal transmission, and lighter- weight substrates, setting the stage for mass proliferation of high-p
Slide 8: Semiconductor production process in latter half of 1990s
II-4. Semiconductor production process in latter half of 1990s: Interlayer insulator ink used as build-up material Prone to residual air bubbles Solvent odor Dry Poor surface planarity Flip over, coat reverse side These shortcomings were all rectified by ABF Copyright © 2019 Ajinomoto Co., Inc. All
Slide 9: ABF facilitates copper interconnect fabrication through plating
II-5. ABF facilitates copper interconnect fabrication through plating Plating can be applied to ABF by roughing its surface (copper interconnect fabrication through plating). ABF Cross-section view ↓Copper plating layer Roughing treatment (oxidant) ABF layer Copper plating Copyright © 2019 Ajinomoto
Slide 10: New printed circuit board manufacturing method
II-6. New printed circuit board manufacturing method Build-up method A method of manufacturing multilayer printed circuit boards by sequentially adding laminate layers, laser drilling to make vias in them, fabricating interconnects, etc. Through-holes 貫通スルーホール Laser vias レーザービア Build-up layer ビルドアップ
Slide 11: ABF's distinguishing attributes
II-7. ABF’s distinguishing attributes ◆World’s first film produced from liquid resin ◆Easier to use than liquid materials ◆Manufactured through low-waste, environment-friendly process With our S.A.V.E. sales approach, we closely Access collaborate with customers from the product Solution development
Slide 12: Value chain
II-8. Value chain Asset-light model based on outsourcing of coating and logistics Film converters Logistics companies (outsourced coating ABF (outsourced low- Customers process) temperature distribution) Varnish Varnish Purchasing Sales Technical support production R&D Suppliers related to circuit m
Slide 13: ABF manufacturing sites
Ⅱ-9. ABF manufacturing sites Coating contractor (Gunma Prefecture) Varnish production Coating company Logistics company Gunma Plant *Increased production capacity *Risk diversification Coating contractor (Niigata Prefecture) Ajinomoto Fine-Techno (Gunma Prefecture) Ajinomoto Fine-Techno (HQ) F-LINE
Slide 14: Section III: Electronic Materials Business Update
I. Overview of Ajinomoto Fine-Techno Co., Inc. II. Development of Ajinomoto Build-up Film® (ABF) Ⅲ. Electronic Materials Business Update Copyright © 2019 Ajinomoto Co., Inc. All rights reserved.
Slide 15: Semiconductor market environment
III-1. Semiconductor market environment Market’s long-term growth trend projected to continue Server CPUs/GPUs and ASICs*/FPGAs** for network applications will drive market growth going forward *ASIC: Application-specific integrated circuit ABF **FPGA: Field-programmable gate array <Logic IC product
Slide 16: ABF sales: new growth phase driven by non-PC applications
III-2. ABF sales New growth phase driven by expansion to non-PC applications ① Growth period ②Temporary lull ③New growth period 1999 2000 to 2007 2008-12: From 2013 Birth of • Internet popularization ・Advent of smartphones & • Expand into domains adjacent Ajinomoto • Rapid growth due to tablets to t
Slide 17: Expansion of other applications
III-3: Expansion of other applications Growth in sales for server and communication applications in conjunction with advent of 5G Detailed breakdown of Ratio by use Use of ABF for high-frequency applications 2013 vs. 2019 Launching to market of ABF able to achieve low dielectric tangent 100% Dev
Slide 18: Business network expansion
III-4. Business network expansion Taiwan/China activity hubs Taiso Commerce Inc. established in Taipei in 1988 Ajinomoto Shanghai Specialty Chemicals Co. Ltd. established in Space for collaboration on value creation with customers Shanghai in 2018 AFT Future Creation Center established in 2016 North
Slide 19: Copyright © 2019 Ajinomoto Co., Inc. All rights reserved.
Copyright © 2019 Ajinomoto Co., Inc. All rights reserved.