U.S. President Joe Biden may be stopping Japanese companies from selling high-end chipmaking equipment to China, but there's still a lot of money to be made on the low-end.
Tokyo Electron, one of Asia's largest makers of semiconductor equipment, is finding the effect of American and Japanese controls, which bar the sales of cutting-edge chips and chipmaking equipment to China, to be smaller than expected, thanks to surging Chinese demand for less advanced machinery. The company generated 43% of its sales from China last quarter, up from 24% a year ago, head of investor relations Junko Takagi told the Financial Times.
