I am the world's #3 MLCC maker, behind Murata and Samsung Electro-Mechanics — a genuine oligopoly member, not a fringe name. Full-stack from materials to mass production, the same vertical model as the leader at one-fifth the scale. The honest verdict: I hold a real seat as the junior member — lower-margin, more cyclical, equity ratio 56% vs Murata's 85%. I raised ¥97bn externally over five years to 2025 because operating cash flow didn't cover capex through the trough.
← stream@TAIYO solid