Ulvac Increases After It Showed New Chip Technologies
Ulvac Inc. (6728) surged the most in more than three years in Tokyo trading amid speculation products the company unveiled to investors yesterday will drive growth at the Japanese maker of equipment for manufacturing chips.
The shares rose 17 percent, the biggest gain since December 2008, to 542 yen at close of trading in Tokyo. Almost 7 million shares changed hands, a 10-fold increase over the six-month daily average of about 670,000, data compiled by Bloomberg show.
Ulvac, based in Kanagawa prefecture near Tokyo, introduced technology for making memory chips and electronic devices used in smartphones at an investor seminar at its research center yesterday, Takayuki Usumi, a company spokesman, said by phone today. The technologies introduced match trends in the industry, said Yuichi Ishida, an analyst at Mizuho Investors Securities Co. in Tokyo.
The investor seminar “led to a positive impression that Ulvac’s chip-related businesses will probably help earnings,” Ishida, who rates the stock a notch above neutral, said by phone today.
The company gave no financial or unit sales targets for the technologies introduced at the seminar, Usumi said.
Net income will probably be about 525 million yen ($6.7 million) in the year ending June 30, 2013, compared with a 51.8 billion yen loss this fiscal year, according to the average of nine analyst estimates compiled by Bloomberg.
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