In today’s briefing:
- Tokyo Electron (8035 JP): New Medium-Term Plan Vs. Reality
Tokyo Electron (8035 JP): New Medium-Term Plan Vs. Reality
- Tokyo Electron has announced a new Medium-term Plan that shows what the company could probably do if the next five years were as good as the last five years.
- That seems unlikely. The plan ignores rising interest rates, the risk of recession, political risk, and the possibility of demand from South Korea, Taiwan and China maxing out.
- It looks like FY Mar-23 guidance is intended to be conservative. That cannot be take for granted.
Before it’s here, it’s on Smartkarma
