Asia
Tokyo Electron Ups Forecast After AI Demand Helps Sales Beat
- Chipmaking gear provider keeps expanding sales to China
- AI surge has reverberated throughout the chip supply chain
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Tokyo Electron Ltd. raised its profit forecast for the fiscal year to March after reporting a better-than-expected surge in sales.
The Japanese provider of semiconductor-patterning systems said it sees operating profit for the full year reaching ¥627 billion ($4.3 billion), up 8% from its previous guidance. Citing “strong growth trends from the previous fiscal year, primarily due to investments in mature generation of semiconductors in China,” the company on Thursday also raised its outlook for sales and profit for the period from April to September.