Ajinomoto Co., Inc. · TSE:2802
Ajinomoto — Investor Presentation (June 2026)
35 slides from Ajinomoto's investor presentation, Jun 30, 2026
Slide 1: Growth Strategy for the Electronic Materials Business
Growth Strategy for the Electronic Materials Business Virtual Tour of Ajinomoto Fine-Techno Co., Inc.’s Gunma Plant Genjin Mago President and Representative Director Ajinomoto Fine-Techno Co., Inc. June 30, 2026
Slide 2: Forward-looking statements
Forward-looking statements, such as business performance forecasts, made in these materials are based on management's estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations. This material includes sum
Slide 3: Today's Message
Today’s Message • Since its launch, ABFTM has established an overwhelming position in its market, maintaining a share of over 95%. With our high-speed development system, we anticipate customer needs from the early stage of product development and are building a competitive advantage based on collab
Slide 4: The Semiconductor Market
The Semiconductor Market Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 4
Slide 5: Outlook for the Semiconductor Market (via WSTS)
The Semiconductor Market Outlook for the Semiconductor Market (via WSTS) In the logic IC market, WSTS* predicts strong growth of about 37% in 2026 and about 27% in 2027. Strong growth is expected to continue amid growing AI-related demand. * World Semiconductor Trade Statistics （billion USD） Logic s
Slide 6: The Evolution of AI Semiconductors: From Learning to Inference
The Semiconductor Market The Evolution of AI Semiconductors: From Learning to Inference Growth in the semiconductor market is being driven by AI-related demand. AI is advancing in scope from existing learning to inference, and the nature of processing is changing with a view toward the expansion of
Slide 7: Our Electronic Materials Business, ABF
Our Electronic Materials Business, ABFTM Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 7
Slide 8: Our Electronic Materials Business: Global Network
ABFTM Business Our Electronic Materials Business: Global Network Our Electronic Materials Business operates globally, centered on Ajinomoto Fine-Techno Co., Inc. (AFT). The business supports the semiconductor development of customers worldwide. A core company in the development, manufacture, and sal
Slide 9: ABF: An Interlayer Insulating Material Supporting Logic ICs
ABFTM Business ABFTM: An Interlayer Insulating Material Supporting Logic ICs The main product of our Electronic Materials Business, ABFTM, is an insulating film used between layers of package substrates for logic ICs. ABF TM sees use in PCs, network equipment, servers, AI-related equipment, gaming d
Slide 10: The ABF Business Model: Customer-Specific Collaborative Development
ABFTM Business The ABF TM Business Model: Customer-Specific Collaborative Development (Co-Creation of Value) ABFTM is custom-manufactured for each customer. From the start of its development, ABFTM is designed to be optimal for the customer by simultaneously adjusting price and performance through c
Slide 11: Increasing Size and Layering of Package Substrates
ABFTM Business Increasing Size and Layering of Package Substrates and Increasing Amount of ABFTM Used per Substrate As technology evolves in the ICT industry, semiconductors are becoming larger and having a higher level of integration, and package substrates are also becoming larger and having more
Slide 12: ABF in AI Servers
ABFTM Business ABFTM in AI Servers AI servers have large numbers of high-performance semiconductor packages, such as CPUs, GPUs, and ASICs. TM These large, multi-layer package substrates are of a construction that uses a large amount of ABF . The size and the number of layers of package substrates f
Slide 13: The Evolution of ABF in Step with Package Substrates
ABFTM Business The Evolution of ABFTM in Step with the Evolution of Package Substrates We continue to evolve ABFTM, achieving performance in step with the technological evolution of package substrates. Package substrates are expected to become larger and have more layers with the evolution of AI. We
Slide 14: Changes in the ABF Product Lineup
ABFTM Business Changes in the ABF TM Product Lineup (representative image) We develop new and higher value-added products, and the increasing share of these products in our portfolio has contributed to higher profit margins. Going forward, we will also continue to develop new and higher value-added
Slide 15: Outlook for Growth up to FY2030
ABFTM Business Outlook for Growth up to FY2030 Driven by strong demand for ABFTM in leading-edge fields, performance has been robust since the start of FY2026. Looking ahead to FY2030, too, we expect dramatic growth in ABFTM sales due to increased volume and higher value-added products, supported by
Slide 16: ABF Development and Production Structure
ABFTM Development and Production Structure Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 16
Slide 17: Our High-Speed Development System
Development and Production Structure The Mechanism Supporting the Evolution of ABFTM: Our High-Speed Development System Our high-speed development system anticipates future customer needs to always meet those needs in advance. We work closely with the players in the value chain to provide value with
Slide 18: Reproduction of Customer Processes to Support High-Speed Development
Development and Production Structure Reproduction of Customer Processes to Support High-Speed Development Substrate design premised on ABFTM has become standard due to our high-speed development, which is grounded in our track record and reliability. Also, our structure that reproduces customers’ ma
Slide 19: The ABF Production Structure
Development and Production Structure The ABFTM Production Structure We specialize in the production of varnish, the raw material for ABFTM. Application to film and storage are outsourced. We are building a structure to provide a stable supply throughout the supply chain to meet the growing demand. B
Slide 20: ABF Manufacturing Sites
Development and Production Structure ABFTM Manufacturing Sites Currently, we manufacture varnish for ABFTM at sites in Kawasaki City and Gunma Prefecture. In May 2026, we announced the acquisition of land for a new plant in Gifu Prefecture. ◆ Varnish plant ● Coating ★ Logistics site Gunma Plant Core
Slide 21: ABF Manufacturing Sites (Structure for Future Production Increases)
Development and Production Structure ABFTM Manufacturing Sites (Development of Structure for Future Production Increases) Anticipating growing demand through 2030, we will develop a structure for staged increases in production at the Gunma Plant and other locations. To address increases in demand af
Slide 22: The AFT Gunma Plant: A New Plant with the Latest Equipment
Development and Production Structure The AFT Gunma Plant: A New Plant with the Latest Equipment The Gunma Plant is our main production base for ABFTM, and the new plant will be compatible with the production of varnish for leading edge fields. By introducing technologies for automation and to reduce
Slide 23: Virtual tour of the new Gunma Plant manufacturing floor
Virtual tour of the new Gunma Plant manufacturing floor Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 23
Slide 24: Functional Materials Business Sales Forecast
Functional Materials Business Sales Forecast We expect the Functional Materials Business to grow dramatically heading toward 2030. We will invest strategically to ensure that production and supply capacity are always at sufficient levels to solidly capture this growth. 2018 2025 2030 forecast 2030予想
Slide 25: Addressing ABF Peripheral Areas and Future Technologies
Addressing ABFTM Peripheral Areas and Future Technologies Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 25
Slide 26: Extension of the Business to ABF Peripheral Areas
Addressing ABFTM Peripheral Areas Extension of the Business to ABFTM Peripheral Areas Building on technologies cultivated through ABFTM, we are advancing the development and application of peripheral materials. Adhesive materials ABFTM-RCC1 Molding materials Magnetic materials Our products • Quick c
Slide 27: Addressing Next-Generation Packaging Technologies
Addressing Future Technologies Addressing Next-Generation Packaging Technologies (The Future of Our Business with Technological Progress) For next-generation packages that address future technological developments, we will not only make use of ABFTM but also our strengths, such as ABFTM technologies
Slide 28: Addressing Next-Generation Package Technologies (Evolution from the Current State)
Addressing Future Technologies Addressing Next-Generation Package Technologies (Evolution from the Current State) With the spread of AI and the resulting surge in the amount of data volumes and demand for communications, controlling power consumption in electrical signal-based high-speed transmissio
Slide 29: Addressing Next-Generation Package Technologies (CPO)
Addressing Future Technologies Addressing Next-Generation Package Technologies (Evolution from the Current State) CPO is a technology that performs optical-electrical conversion near ASICs in semiconductor packages to reduce power consumption by shortening the electrical interconnect distance. We wi
Slide 30: Organizational & Corporate Culture and Human Resources
Organizational & Corporate Culture and Human Resources Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 30
Slide 31: Our Vision and Sources of Competitiveness
Organizational & Corporate Culture and Human Resources Our Vision for the Company and Our Sources of Competitiveness To realize our vision, we will hone our core competencies, solidly engage with customers, continue tackling challenges, and always provide new value. Our vision: “Create comfort in li
Slide 32: Human Resources that Support Our High-Speed Development System
Organizational & Corporate Culture and Human Resources Human Resources that Support Our High-Speed Development System To strengthen research, technology development, manufacturing, quality assurance, sales, and other aspects of our high-speed development system, and to strengthen our sustainable rel
Slide 33: What We Value
Organizational & Corporate Culture and Human Resources Organizational Culture and Talent Supporting the Competitiveness of the Electronic Materials Business What We Value Explore the Unknown. Face People with Continue to explore the unseen value of Integrity. materials. Do not be constrained by Enga
Slide 34: Human Resources Around the Globe that Support the Electronic Materials Business
Human Resources Around the Globe that Support the Electronic Materials Business Copyright © 2026 Ajinomoto Co., Inc. All rights reserved 34
Slide 35: Eat Well, Live Well.
Eat Well, Live Well. Ai, AJINOMOTO.