We have developed a fabrication technique for high-performance high-thermal-stability InP/InGaAs heterojunction bipolar transistors (HBTs) for use in 40-Gb/s ICs. The HBT's T-shaped emitter electrode structure simplifies the fabrication process and enables high controllability of spacing between the emitter and the base electrodes. A highly-C-doped base, grown by gas-source MBE, and a new Pt-based metal system results in a low base resistance. An InP subcollector suppresses thermal runaway of HBTs at high collector current better than a conventional InGaAs subcollector does. Using these techniques, we fabricated a very-high-performance HBT with an extremely high cutoff frequency fT of 235 GHz. The RF measurements show that the collector current at the peak cutoff frequency is inversely proportional to collector thickness. We also fabricated a static 1/2 frequency divider, that can be used for 40-Gb/s optical transmission systems, operating up to 44 GHz. This divider confirmed that the developed HBT is applicable to 40-Gb/s optical transmission ICs.