Twenty companies were selected as “hidden semiconductor stocks” following Ajinomoto, Kao, and TOTO, with examples of food and daily-goods companies increasing earnings from semiconductor materials and components. The latest results of each company and the role of its semiconductor-related business are also outlined.
As the semiconductor market undergoes structural change and circuit miniaturization advances, demand for semiconductor materials and related materials is expanding. In particular, Japanese food and daily-goods companies are said to support semiconductor manufacturing through technologies involving polysilicon, advanced films, chemicals, additives, and other products. This article examines 20 companies following Ajinomoto, Kao, and TOTO and explains how each generates earnings from semiconductors.
FUSO CHEMICAL CO.,LTD. has both a Life Science business and an Electronic Materials business. The former accounts for approximately half of sales, while the latter accounts for most segment profit. The Electronic Materials business supplies ultrapure colloidal silica, the primary raw material for CMP polishing slurries, and is said to have a world-leading market share. In the fiscal year ending March 2026, the Electronic Materials business grew significantly. Under the medium-term plan Leap 2030, which looks ahead to 2029, the company aims for sales of more than ¥120 billion and operating profit of more than ¥36 billion.
ADEKA operates three businesses, with semiconductor materials based on ceramic materials serving as a key earnings pillar. For the fiscal year ending March 2026, sales were ¥416.5 billion and operating profit was ¥41.6 billion. Semiconductor materials accounted for part of sales, while in the April–June 2026 quarter, sales rose approximately 47% year on year and operating profit also increased sharply. The Semiconductor Innovation Center began full-scale operations in July 2026, and investment plans including expanded PAG production capacity have also been disclosed.
This article organizes the growth opportunities for semiconductor-materials businesses operated by food and daily-goods companies while verifying semiconductor-related information against primary sources and disclosed materials. Based on information disclosed as of September 2026, it compiles the latest developments, growth investments, and risk factors for each company so that individual investors can understand the relevant facts.
Target company
FUSO CHEMICAL CO.,LTD. derives most of its segment profit from electronic materials.
Key materials trends
Colloidal silica has a world-leading market share as the primary raw material for CMP.
Quarterly results
April–June sales rose 47% year on year, while operating profit also increased sharply.
Medium-term management plan
Under Leap 2030, the company aims for sales of more than ¥120 billion and operating profit of more than ¥36 billion.
Sources:
note.com
The article reports facts consistent with the Note article.