Tokyo Electron Raises Outlook on Stronger-Than-Feared Demand
- Chipmakers kept spending despite rising economic uncertainty
- Japan agreed to join US, Netherlands on tighter chip curbs
Tokyo Electron lifted its full-year operating profit outlook by 6%.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Tokyo Electron Ltd. raised its profit outlook for the year after global chipmakers continued to spend on new equipment in the face of rising economic uncertainty.
The Tokyo-based supplier to Taiwan Semiconductor Manufacturing Co. and Intel Corp. lifted its forecast for the year to March above expectations to ¥580 billion ($4.4 billion). Companies kept spending after reviewing investment plans, Tokyo Electron executives said during earnings calls Thursday.