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Ibiden and Tokyo Ohka Kogyo see strong market momentum
Monday, March 2, 2026 at 04:14 AM
Ibiden shows strong market performance and Tokyo Ohka Kogyo hits a record high stock price, indicating positive movement for key semiconductor materials and substrate suppliers.
Context
Tokyo Ohka Kogyo (TOK) and Ibiden are currently leading a rally in the Japanese semiconductor sector, with TOK recently reaching an all-time high. This surge is fueled by relentless demand for AI hardware, where TOK holds critical market share in advanced photoresists for EUV lithography. Simultaneously, Ibiden is seeing strong momentum as a primary supplier of IC packaging substrates, which are essential for the high-density interconnects required by modern AI GPU architectures.
This momentum is tied to the industry’s transition toward advanced packaging and smaller process nodes. Investors are pricing in a robust outlook for the 2025 and 2026 fiscal years as both firms expand capacity to meet orders from major global chipmakers. TOK’s record performance reflects its indispensable role in the lithography process, while Ibiden remains a key beneficiary of the shift toward AI-centric data centers, cementing their status as essential infrastructure plays in the global supply chain.
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Tokyo Ohka Kogyo
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Ibiden
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