Japanese semiconductor equipment maker Lasertec reported a sharp decline in first-quarter sales as major chipmakers scaled back investments in new manufacturing capacity.
Revenue fell 22% to 36.7 billion yen ($262 million) in the quarter ended September, with semiconductor-related products dropping 39% to 25.6 billion yen. The decline reflects broader weakness in chip equipment spending, though the company noted that investments in artificial intelligence-related segments remain robust.
Despite lower sales, operating profit rose 55% to 15.9 billion yen as margins expanded to 43.4% from 21.7% a year earlier, helped by a more profitable product mix. Net income increased 16% to 8.9 billion yen.
The company, which specializes in inspection systems for semiconductor masks and wafers, maintained its full-year forecast for sales of 240 billion yen and operating profit of 104 billion yen. Lasertec expects its services revenue to grow 48% this fiscal year as more of its systems are deployed at customer sites.
Lasertec also outlined longer-term targets, aiming for sales of 400-500 billion yen by 2030 with operating margins above 35%. The company stopped disclosing quarterly order numbers, citing high volatility that it says doesn’t reflect long-term trends.
The results highlight the cyclical nature of semiconductor equipment demand, even as inspection tool makers benefit from growing complexity in chip manufacturing.