INTERVIEW-Tokyo Electron sees LCD order pickup by March
TOKYO, July 9 (Reuters) - Japan's Tokyo Electron Ltd (8035.T) could see a pickup in orders for its liquid crystal display equipment by the end of this financial year, with investment appetite rising in China, Taiwan, South Korea and Japan, its president said.
Executives at semiconductor equipment maker Tokyo Electron, which trails market leader Applied Materials Inc (AMAT.O), had previously said they expected few new LCD gear orders in the year to March.
"Investments by panel makers had all but stopped, but things are starting to move forward," its President Hiroshi Takenaka said in an interview with Reuters on Thursday. But Tokyo Electron, which forecasts a record annual operating loss this year, expects a recovery in its mainstay semiconductor equipment to take two to three years, he said.
The company will need to hike its planned 30 billion yen
($322 million) cost cuts this year to chase profitability in the financial year starting in April 2010, he said.
($1=93.18 Yen)
(Reporting by Mayumi Negishi and Kentaro Hamada)
((mayumi.negishi@thomsonreuters.com; +81-3-6441-1812; Reuters Messaging: mayumi.negishi.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: TOKYO ELECTRON/LCD
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