Update shared on13 Sep 2025
Fair value Decreased 1.79%The consensus price target for Tokyo Electron was slightly reduced, primarily reflecting lowered revenue growth expectations, resulting in a marginal decrease in fair value from ¥27,999 to ¥27,499.
What's in the News
- Three people were indicted in Taiwan for allegedly stealing sensitive 2-nanometer chip technology from TSMC to aid Tokyo Electron's etching machine development and improve its competitive position with TSMC (Wall Street Journal).
- Tokyo Electron is a participating member in the newly established JOINT3 consortium led by Resonac Corporation, focusing on the next-generation panel-level organic interposer packaging technology for semiconductors, with prototype production expected to begin in 2026 (Key Developments).
- Tokyo Electron revised its full-year fiscal 2026 consolidated earnings guidance downward, now expecting net sales of JPY 2,350,000 million, operating income of JPY 570,000 million, and net income of JPY 444,000 million, sharply lower than prior forecasts (Key Developments).
- The company also reduced its expected year-end dividend for fiscal 2025 to JPY 240.00 per share, down from JPY 373.00 per share previously projected (Key Developments).
- Tokyo Electron confirmed guidance for the six months ending September 30, 2025 (net sales: JPY 1,150,000 million; operating income: JPY 288,000 million; net income: JPY 224,000 million) and held board meetings on stock compensation and stock option issuance for officers (Key Developments).
Valuation Changes
Summary of Valuation Changes for Tokyo Electron
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from ¥27999 to ¥27499.
- The Consensus Revenue Growth forecasts for Tokyo Electron has fallen from 6.9% per annum to 6.6% per annum.
- The Discount Rate for Tokyo Electron remained effectively unchanged, moving only marginally from 8.44% to 8.33%.
Disclaimer
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