May 25, 2001 – Kumamoto, Japan – Semiconductor manufacturer Tokyo Electron Kyushu Ltd., will cut capital spending down to $58.4 million (7 billion yen) in the current fiscal year, a year-on-year decline of 70%.
The company is limiting its investments because semiconductor manufacturers are continuing to curtail production, and as a result are limiting their capital spending.
In fiscal 2000, Tokyo Electron Kyushu recorded sales of $1.5 billion (180 billion yen), a year-on-year gain of 76%. In the current fiscal year, however, the company forecasts a decline of about 20% to $1.2 – $1.3 billion (140 – 150 billion yen), its first year-on-year decline in sales in three years.
In fiscal 2000, Tokyo Electron Kyushu’s capital spending totaled $200 million (24 billion yen).