Japan's Packaging Substrate Shipments Hit Record 278 Billion Yen in May, Up 36% Year-over-Year

According to a Nomura Securities research report citing Japan's Ministry of Economy, Trade and Industry data released on July 14, Japan's packaging substrate shipments in May reached 278 billion yen, up 36% year-over-year and marking a record high. Shipment area per square meter increased 10%, while average price rose 23% to 1.356 million yen per square meter.

The report highlighted two key market drivers: Nvidia's Rubin packaging demand expected to scale up by summer 2026, and potential shifts in Rubin Ultra's structure toward dual modules. HBM4 wiring upgrades and interposer integration challenges also remain focal points for the industry.