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Japanese chip equipment maker hit by Shanghai lockdowns suffers 17% profit drop

Tokyo Electron, one of the world’s largest suppliers of chip-making equipment, says about a quarter of its sales come from China. (Photo by Karina Nooka)

August 8, 2022 19:11 JST | Japan

TOKYO — Tokyo Electron said Monday it is “deeply concerned” about U.S. moves to extend high-tech export restrictions against China, a key market for the Japanese chip equipment maker, as competition for technological dominance between the two superpowers of the world escalates.

Tokyo Electron, one of the world’s largest suppliers of chip-making equipment, along with Applied Materials and ASML, has not received a request from Washington to waive exports to China, but an executive said Monday he was informed is reported that Washington is broadening its operations. restrictions on western companies‘ high-tech exports to China.

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