JapanThe share price of semiconductor equipment maker Tokyo Electron hit a record high during intraday trading today. The company had previously raised its full-year financial forecast, primarily due to strong sales in China.
Tokyo Wenig Technology’s share price rose 12% to 33,340 yen per share in early trading in Tokyo on the 13th, the largest intraday increase in nearly four years.
this houseWaferThe appliance maker forecast operating profit of 445 billion yen ($3 billion) in the year to the end of March, up 11% from its previous forecast. This beat analysts’ expectations, mainly because in the quarter ended December last year, Tokyo Power Technology’s business in China contributed 46.9% of revenue, a further increase from 42.8% in the quarter ended September.
“We expect strong demand from China to continue or even become stronger,” Toshiki Kawai, president of Tokyo Wenig Technology, said in an earnings call last week.
Kawai Toshiki said that China produces only a small part of the needed chips domestically, and he hopes China will actively do soinvestTo reduce dependence on foreign countries, “we expect this momentum to continue through 2025.”
Tokyo Wenig Technology said its total revenue for the year to the end of March is expected to reach 1.83 trillion yen, up from a previous forecast of 1.73 trillion yen.