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REUTERS/Sam Nussey/File Photo Advantest’s logo is pictured in Tokyo, Japan June 4, 2024.
Reuters
17:57 JST, October 30, 2024
TOKYO (Reuters) – Japan’s Advantest on Wednesday hiked its full year operating profit forecast by almost a fifth to ¥165 billion ($1.08 billion) as strong demand for high performance artificial intelligence-related chips boosted its testing machine business.
Operating profit in the July-September quarter tripled year-on-year to ¥63.6 billion.
Advantest sees robust demand for AI-related chips, although it would take time for testing demand to recover in areas such as automotive and industrial.
In the second quarter, Taiwan contributed of sales. China made up of sales.
Advantest, whose shares have risen almost 80% year-to-date, said it would buy back shares worth up to ¥50 billion .
