Bank Of New York / Adr Division F-6EF Automatic registration for ADRs (foreign)

Writer’s Direct Dial   EXHIBIT 4   Emmet, Marvin & Martin,LLP Counsellors at Law _____ 120 Broadway New York, New York 10271 _____ (212) 238-3000 (212) 653-1760 _____ Fax: (212) 238-3100 Fax: (212) 653-1730 http://www.emmetmarvin.com 177 Madison Avenue Morristown, New Jersey 07960 (973) 538-5600 Fax: (973) 538-6448

May 29, 2018

The Bank of New York Mellon

as Depositary

101 Barclay Street

New York, New York, 10286

Re: Unsponsored American Depositary Shares for shares of common stock, of Ibiden Co., Ltd.

Ladies and Gentlemen:

We refer to the registration statement to be filed on Form F-6 under the Securities Act of 1933 (the "Registration Statement") by the legal entity created by the agreement for issuance of American Depositary Shares ("ADSs"), representing shares of common stock, of Ibiden Co., Ltd., for which you propose to act as Depositary.

We are of the opinion that the ADSs covered by the Registration Statement, when issued in accordance with the Statement of Terms and Conditions of the ADSs included as an exhibit to the Registration Statement (the “Terms and Conditions”) will, when sold, be legally issued and will entitle the holders thereof to the rights specified in the ADRs.

This opinion may be used by you as an exhibit to the Registration Statement.

Very truly yours,

/s/ EMMET, MARVIN & MARTIN, LLP

EMMET, MARVIN & MARTIN, LLP