SUMCO (3436)
SUMCO (3436) is a pure-play maker of silicon wafers, the substrate every logic and memory chip is built on, and with Shin-Etsu it forms a near-duopoly at the leading edge. Q1 2026 sales slipped 1% to 101.4 billion yen and it posted an operating loss as customers drew down inventory. It reports next in early August 2026.
| Ticker | 3436 |
|---|---|
| Exchange | TSE |
| Sector | Materials · Semiconductor Silicon Wafers |
| Country | Japan |
| Wikidata | Q2208172 |
| Last updated | 2026-07-05 |
Next event: Next earnings · Q2 FY2026 (ending June 2026) , estimated · Calendar-estimated: SUMCO reports Q2 in early August (Q1 FY2026 was reported May 12, 2026); not yet confirmed on the IR calendar. SUMCO's fiscal year ends December 31. (source)
Latest reported quarter: Q1 FY2026 (ended Mar 31, 2026) (reported 2026-05-12)
SUMCO reported Q1 2026 net sales of 101.4 billion yen, down 1.0% year over year, and an operating loss of 5.2 billion yen and a net loss of 8.4 billion yen, or negative EPS of 24.22 yen, as 300mm wafer shipments fell on customer inventory drawdown even though AI-driven leading-edge demand held up. Long-term contract prices were honored. EBITDA was 23.4 billion yen, and the company guided Q2 sales up to 112.0 billion yen.
| Net sales (Q1 FY2026) | ¥101.4B -1.0% YoY · 300mm shipments down on inventory drawdown |
|---|---|
| Operating loss | ¥(5.2)B · Vs +¥5.9B a year earlier |
| Net loss / EPS | ¥(8.4)B · EPS -¥24.22; EBITDA ¥23.4B |
Guidance: Q2 FY2026
| Net sales | ¥112.0B · Up from ¥101.4B |
|---|---|
| Operating loss | ¥(2.5)B |
| Net loss | ¥(7.0)B · Interim dividend ¥10 per share planned |
Outlook given with the Q1 FY2026 results on May 12, 2026; SUMCO issues quarterly, not full-year, guidance.
Recent & upcoming events
- · Q1 2026 operating loss on inventory drawdown. Net sales of 101.4 billion yen with an operating loss of 5.2 billion yen as 300mm shipments fell on customer inventory drawdown; long-term contract prices were honored and management guided Q2 sales up to 112.0 billion yen on AI-driven leading-edge demand. (source)
Q1 FY2026 figures (three months ended March 31, 2026) are from SUMCO's quarterly results announced May 12, 2026; its fiscal year ends December 31. SUMCO does not report revenue segments and issues quarterly rather than full-year guidance.
Figures are as of 2026-07-05 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does SUMCO do?
SUMCO makes one thing: silicon wafers. It grows high-purity single crystals of silicon, slices them into discs, and polishes or adds an epitaxial layer to produce the 300mm and 200mm substrates that logic and memory chips are built on. That focus makes it a cleaner wafer proxy than the diversified chemical companies it competes with, and it sits alongside Shin-Etsu as one of only two makers of leading-edge 300mm wafers at scale. Because the wafer is the very first input to a chip, SUMCO’s volumes track how busy the world’s fabs are, and its long-term agreements with prepayments are designed to smooth the swings (SUMCO Q1 FY2026 results, May 12, 2026).
How is AI driving SUMCO’s business?
Unevenly, which is the story of this cycle. AI data centers are pulling hard on leading-edge logic and DRAM wafers, but consumer, industrial, and automotive chips are still working off inventory, so demand is bifurcated. In Q1 2026 that meant 300mm shipments fell on customer inventory drawdown even as the AI end held up, and long-term contract prices were honored (SUMCO Q1 FY2026 results, May 12, 2026). Management’s outlook leans on the AI side:
“The 300 mm wafer market is expected to see strong demand for leading-edge logic and DRAM in AI data centers, with a projected uptick in NAND demand ahead.”
— SUMCO Corporation, Q1 FY2026 results (SUMCO, May 12, 2026)
What did SUMCO report most recently?
In Q1 2026 (the quarter ended March 31, 2026), net sales were 101.4 billion yen, down 1.0% year over year, and SUMCO posted an operating loss of 5.2 billion yen and a net loss of 8.4 billion yen, or negative EPS of 24.22 yen (SUMCO Q1 FY2026 results, May 12, 2026). The loss was driven by lower 300mm shipments as customers drew down inventory, while heavy fixed costs, roughly 30.8 billion yen of quarterly depreciation, weighed on a business built on capital-intensive fabs. EBITDA stayed positive at 23.4 billion yen, and long-term contract prices held.
What is SUMCO’s guidance?
SUMCO guides quarter by quarter rather than for the full year. For Q2 2026 it expects net sales of 112.0 billion yen, up from 101.4 billion, with a narrower operating loss of 2.5 billion yen and a net loss of 7.0 billion yen, and it plans a 10 yen interim dividend (SUMCO Q1 FY2026 results, May 12, 2026). The sequential improvement rests on AI-driven leading-edge demand.
What are the risks for SUMCO?
- Cyclicality and inventory overhang. Demand is split between a strong AI edge and a weak everything-else, so volumes and utilization swing sharply even with long-term-agreement price protection.
- Capital intensity. Roughly 30.8 billion yen of quarterly depreciation turned flat sales into an operating loss; earnings are highly geared to volume and utilization.
- FX. A one-yen appreciation against the dollar cuts annual operating profit by about 1.2 billion yen, so yen strength is a direct earnings risk.
Related securities, concepts & terms
SUMCO is the pure-play wafer layer of the silicon supply chain concept, in a near-duopoly with Shin-Etsu Chemical, with GlobalWafers completing the wafer oligopoly.
- Silicon Supply Chain parent
- Shin-Etsu Chemical (4063) sibling
- GlobalWafers (6488) sibling
- Silicon Wafer related
Frequently asked questions about SUMCO
What does SUMCO do?
SUMCO makes high-purity monocrystalline silicon wafers, the polished and epitaxial 300mm and 200mm substrates that logic and memory chips are built on. It is a pure-play wafer maker and, with Shin-Etsu, forms a near-duopoly in leading-edge 300mm wafers (SUMCO Q1 FY2026 results, May 12, 2026). Unlike broader chemicals peers, essentially all of its revenue comes from silicon wafers.
What were SUMCO's latest results?
For Q1 2026 (quarter ended March 31, 2026), net sales were 101.4 billion yen, down 1.0% year over year, with an operating loss of 5.2 billion yen and a net loss of 8.4 billion yen, or negative EPS of 24.22 yen (SUMCO Q1 FY2026 results, May 12, 2026). The loss came from lower 300mm shipments as customers drew down inventory; long-term contract prices were honored and EBITDA stayed positive at 23.4 billion yen.
What is SUMCO's guidance?
SUMCO guides quarterly, not annually. For Q2 2026 it expects net sales of 112.0 billion yen, up from 101.4 billion, with a narrower operating loss of 2.5 billion yen and a net loss of 7.0 billion yen, and it plans a 10 yen interim dividend (SUMCO Q1 FY2026 results, May 12, 2026). The outlook rests on AI-driven demand for leading-edge logic and DRAM wafers.
When does SUMCO report its next earnings?
SUMCO is expected to report Q2 2026 results in early August 2026, calendar-estimated from its usual cadence (Q1 2026 was reported May 12, 2026) and not yet confirmed on its IR calendar (SUMCO IR calendar). Its fiscal year ends December 31.
Why is SUMCO part of the silicon supply chain concept?
Because it makes the substrate at the base of the chip stack. Every logic and memory chip is built on a silicon wafer, and SUMCO is one of only two makers of leading-edge 300mm wafers at scale, alongside Shin-Etsu. Management expects the 300mm market to see strong demand for AI-data-center logic and DRAM, with NAND demand improving ahead (SUMCO Q1 FY2026 results, May 12, 2026).
Sources & references
- SUMCO Corporation Results for First Quarter of FY2026 (May 12, 2026) · SUMCO Corporation, 2026-05-12
- SUMCO Corporation · IR event calendar · SUMCO Corporation, 2026-07-05