Tokyo Electron Device reported higher sales and profits in both its CN and EC businesses for the six-month period and revised its full-year earnings outlook upward. CN reported higher sales and profits on solid IT investment, while EC posted substantial sales growth and a significant improvement in segment profit.
For the six-month period, Tokyo Electron Device reported net sales of ¥125.958 billion, up 30.9% year on year, ordinary profit of ¥7.354 billion, up 100.5%, an ordinary profit margin of 5.8%, and net income of ¥4.998 billion, up 93.7%. A slide showed the achievement rate against the outlook revised upward when the company announced its first-quarter results in July. By segment, the CN business achieved higher sales and profits, with sales of ¥21.675 billion and segment profit of ¥2.891 billion.
The EC business reported sales of ¥104.282 billion, up 35.3% year on year, and segment profit of ¥4.462 billion, approximately four times the previous year's level. Profitability also improved due to higher prices and the weaker yen. PB business sales declined 2.5%, but orders related to semiconductor manufacturing remained solid, and design and volume-production contract work performed well. Second-quarter orders remained high at ¥99.769 billion.