What does Ajinomoto make?

Ajinomoto makes Ajinomoto Build-up Film (ABF).

Who are Ajinomoto's customers?

Ajinomoto's tracked customers include Ibiden, Unimicron, Nan Ya PCB, Shinko Electric Industries, Samsung Electro-Mechanics, TSMC, Samsung Electronics, Intel, SK hynix, Micron Technology, SMIC, GlobalFoundries, LG Innotek.

Where is Ajinomoto headquartered?

Ajinomoto is based in Ajinomoto Headquarters Building.

What part of the semiconductor supply chain is Ajinomoto in?

Ajinomoto operates in the Substrates segment, where it is a market monopoly.

Ajinomoto

Ajinomoto is a monopoly in the Materials segment of the semiconductor & AI supply chain, headquartered in Ajinomoto Headquarters Building. Its key customers include Ibiden, Unimicron, Nan Ya PCB.

Supplies effectively all ABF build-up film, the insulator in advanced CPU/GPU substrates.

Ticker: TSE: 2802
Headquarters: Ajinomoto Headquarters Building
Founded: 1925
Revenue: $9.9B (FY2026) · +404.9% YoY
Net income: $843M
Operating margin: 12.9%
Market position: monopoly
Value-chain segment: Substrates
Key products: Ajinomoto Build-up Film (ABF)

About Ajinomoto

Ajinomoto, headquartered in Japan, operates in the Substrates segment of the semiconductor & AI supply chain and is positioned as a market monopoly there. Its key products include Ajinomoto Build-up Film (ABF). wafergraph maps 13 tracked customers for Ajinomoto across the value chain. It has a supply-chain criticality score of 99/100, with 242 companies downstream of it.

Ajinomoto Co., Inc. is a Japanese multinational food and biotechnology corporation which produces seasonings, cooking oils, frozen foods, beverages, sweeteners, amino acids, insulating films, and pharmaceuticals. Aji-No-Moto is the trade name for the company's original monosodium glutamate (MSG) product, the first of its kind, since 1909. The corporation's head office is located in Chūō, Tokyo. As of 2024, Ajinomoto operates in 31 countries worldwide and employs an estimated 34,862 people. Its yearly revenue in 2024 is around ¥1.53 trillion JPY or $10.61 billion USD.

Role in the chain

Ajinomoto is a market monopoly in Materials (Substrates), headquartered in Japan. Supplies effectively all ABF build-up film, the insulator in advanced CPU/GPU substrates.

Diligence questions

The dataset names 13 tracked customers for Ajinomoto. How concentrated is demand among those names, and which of them have a documented second source in this graph?
Ajinomoto is positioned as a monopoly in Materials. How replaceable is this vendor on the process step you are buying?
Ajinomoto is headquartered in Japan. What jurisdiction, export-control or logistics risk sits at that HQ, versus at the fabs or plants the filings actually name?
Ajinomoto trades as TSE:2802. What does the latest reported period say about capacity and backlog versus the graph position above?
Before treating any edge as a verified relationship, check the provenance labels on the company page and the method note at /methodology.

Full diligence pack for Ajinomoto