TOELF | Quote | Chart | News | PowerRating -- Tokyo Electron Ltd. (TSE:8035)
said Friday that it plans to close three R&D and manufacturing
facilities in Japan by the end of 2010 to boost efficiency in
its business making semiconductor manufacturing equipment.
Closing its Sagamihara, Kanagawa Prefecture, and Tosu, Saga
Prefecture, factories, and shuttering its Kansai technology
center in Amagasaki, Hyogo prefecture, will reduce the
company's domestic R&D and manufacturing locations by a
third.
Tokyo Electron plans to transfer some operations and all 600
workers at the three sites to other locations. It estimates
that write-downs on equipment will result in roughly 6 billion
yen (US$63.4 million) in extraordinary losses in the year
ending March 31.
The company also said Friday that it suffered a net loss of
11 billion yen in the April-June quarter, a sharp deterioration
from a profit of 12.8 billion yen a year earlier. Its group
sales plunged 55 per cent to 68.9 billion yen.
But Tokyo Electron received 50.1 billion yen worth of orders
during the quarter, an 86 per cent jump from the January-March
period, bolstered by a sharp increase in orders from Taiwan.
The company sees this as a sign that the worst of the slump
in chipmaking equipment orders is over.
As a result, Tokyo Electron upgraded its projections for the
year through March 31.
Sales are now forecast at 318 billion yen, compared with the
previous target of 300 billion yen. The firm also trimmed its
operating loss estimate to 57 billion yen from 63 billion
yen.
(Nikkei) bl
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