Tokyo Electron aims for higher profit

Tokyo Electron Ltd, the world's No 2 chip equipment maker, said on March 10, that it expected to hit earnings forecasts for the current business year and was aiming for higher profits in the coming year on cost cuts. Tokyo Electron President Kiyoshi Sato told Reuters in an interview that orders, a closely watched indicator for future earnings, were expected to start recovering from October after moving in a range between a little more than 110 billion yen ($1 billion) and 100 billion yen in the three quarters to September.
The company has yet to release its profit forecast for the next business year from April.