Advantest Hikes Profit Forecast as AI Boosts Tester Demand

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 .

$1 = ¥153.2900