TAIYO HOLDINGS CO.,LTD.
4626・Prime Market・Chemicals
Electronics
Core business holding a world-leading share in the development, manufacture, and sale of chemical materials for electronic components, centered on materials for PCBs
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥95,285 million | ¥81,703 million | ↑ |
| Segment profit | ¥29,177 million | ¥21,458 million | ↑ |
| Segment assets | ¥97,758 million | ¥87,369 million | ↑ |
| Depreciation | ¥3,738 million | ¥3,626 million | ↑ |
| Increase in tangible and intangible fixed assets | ¥5,993 million | ¥2,560 million | ↑ |
| Net sales change rate | +16.6% | — | ↑ |
| Segment profit change rate | +36.0% | — | ↑ |
Business Details
The company develops, manufactures, and sells chemical materials for electronic components, mainly Solder Resist (SR) for printed circuit boards (PCBs), as well as Dry Film (DF) and materials for Semiconductor Package (PKG) Substrates. Customers are PCB makers supplying IT equipment manufacturers (PCs, smartphones, servers, etc.) and automotive-related equipment manufacturers. Overseas sales account for over 90% of the total, with global operations centered on China, Taiwan, and South Korea. The flagship product SR holds a world-leading market share. The main domestic subsidiary is Taiyo Ink Mfg. Co., Ltd.
Recent Overview
Driven by AI demand, memory-related DF products led the way, resulting in substantial increases in both sales and profit
In FY2026 (ending March 2026), the Electronics segment achieved net sales of ¥95,285 million (up 16.6% year on year) and segment profit of ¥29,177 million (up 36.0% year on year). For Materials for Semiconductor Package Substrates, demand for memory-related DF products expanded consistently throughout the period amid the spread of AI, with sales volume increasing for both liquid and DF products. For Materials for Rigid Substrates, automotive and smartphone applications performed well, mainly in China, while demand for display-related DF declined. The average exchange rate during the period was ¥150.9 to the US dollar (vs. ¥152.5 in the same period of the previous year), and this yen appreciation of ¥1.6 was a factor reducing sales, but this was absorbed by the increase in volume. For the next fiscal year (FY2027, ending March 2027), the Electronics segment is expected to record net sales of ¥102,200 million and operating profit of ¥31,300 million (both increasing year on year).
Key Products
Growth Drivers
- Continued and expanding demand for dry film products for semiconductor memory, driven by the spread of AI
- Increased sales volume of both liquid and DF products for Materials for Semiconductor Package Substrates
- Expanding demand for automotive-related and smartphone-related Materials for Rigid Substrates, mainly in China
- Medium- to long-term growth of the semiconductor-related market driven by expanding demand related to IoT, 5G, and generative AI
- Expanding demand for automotive-related materials accompanying the spread of EVs and hybrid vehicles
Risks
- Foreign exchange risk: with overseas sales accounting for over 90% of the total, yen appreciation directly leads to lower sales and profit
- Risk of specification changes and demand fluctuations for final products in display-related materials (a decrease in DF sales volume is expected in the next fiscal year)
- Risk of sales volume fluctuations due to the demand cycle of the semiconductor industry
- Risk of surging energy prices and difficulty procuring raw materials amid heightened geopolitical risk
- Growing uncertainty in the global economy due to the tariff policy of the US administration
- Risk of price competition with competitors and delayed response to technological innovation
Last updated: June 16, 2026