And so it raises its operating profit forecast for the period through March next year by 8%.
According to information BloombergJapanese chip-making equipment maker Tokyo Electron made no secret of its quarterly earnings conference call that it was raising its operating profit forecast for the current fiscal year ending in March, largely due to strong demand for its equipment from Chinese chip makers. Specifically, its operating profit forecast was raised by 8% to $3.8 billion.
Image source: Tokyo Electron
Revenue and operating profit in the past quarter also exceeded expectations, with the former outperforming by more than 10%. Tokyo Electron representatives admitted that they are closely monitoring the situation in the world, but do not yet consider the threat of a serious tightening of US export control rules to be strong enough to affect the company’s business. As of March of this year, about 47% of Tokyo Electron’s revenue was provided by Chinese clients, so the company is interested in maintaining the status quo or improving the situation with restrictions on equipment supplies to China.
