Aug 16, 2021

Announcement on Financial Forecast and Dividends Forecast Revision

Tokyo Electron (TEL) announced that the financial forecast and the dividends forecast announced on April 30, 2021 have been revised based on recent business trend as follows.


1. Financial Forecast Revision

Consolidated financial forecast revision (Cumulative) for the First Half of the fiscal year ending March 31, 2022 (April 1, 2021 - September 30, 2021)

Net sales
(Millions of yen)

Operating income
(Millions of yen)

Ordinary income
(Millions of yen)

Net income attributable to owners of parent

(Millions of yen)

Net income
per share

(Yen)

Previous forecast (A)

(April 30, 2021)

840,000

218,000

218,000

163,000

1,047.89

Revised forecast (B)

900,000

245,000

245,000

175,000

1,124.99

Change (B-A)

60,000

27,000

27,000

12,000

Change ratio (%)

7.1

12.4

12.4

7.4

Results for the six

months ended

September 30, 2020

668,160

147,429

148,228

112,012

720.29

Consolidated financial forecast revision for the fiscal year ending March 31, 2022 (April 1, 2021 - March 31, 2022)

Net sales
(Millions of yen)

Operating income
(Millions of yen)

Ordinary income
(Millions of yen)

Net income attributable to owners of parent

(Millions of yen)

Net income
per share

(Yen)

Previous forecast (A)

(April 30, 2021)

1,700,000

442,000

442,000

330,000

2,121.49

Revised forecast (B)

1,850,000

508,000

508,000

370,000

2,378.53

Change (B-A)

150,000

66,000

66,000

40,000

Change ratio (%)

8.8

14.9

14.9

12.1

Results for the year ended March 31, 2021

1,399,102

320,685

322,103

242,941

1,562.20

Reason for financial forecast revision

The expansion of the semiconductor production equipment market is accelerating as demand for semiconductors increases, driven by the transition to a data society due to the expansion of the use of communications technologies such as IoT, AI and 5G. Based on the most recent trends in facilities investments by our customers and the most recent trends in results, we would like to amend the consolidated results projections for the first half of the current fiscal year and full year announced on April 30, 2021 as above.


Note: The financial forecasts and estimates stated in this announcement are based on certain assumptions judged to be reasonable by TEL in light of information currently available concerning economic conditions in Japan and overseas, fluctuations in foreign exchange rates, and other factors that may have an impact on performance. TEL does not promise that the forecasts or estimates will be accurate.

They are therefore susceptible to the impact of many uncertainties, including market conditions, competition, the launching of new products (and their success or failure), and global conditions in the semiconductor related industry. Consequently, actual sales and profits may differ substantially from the projections stated in this announcement.


2. Dividends Forecast Revision

Dividend per share

(Yen)

1Q-end

2Q-end

3Q-end

Year-end

Total

Previous forecast (April 30, 2021)

524.00

537.00

1,061.00

Revised forecast

562.00

627.00

1,189.00

Results for the year
ended March 31, 2021

360.00

421.00

781.00

Reason

The dividend policy of TEL is to link dividend payments to business performance on an ongoing basis. Its basic policy for returning profits to shareholders is to maintain a payout ratio of around 50% based on consolidated net income attributable to owners of parent. As described above, in conjunction with the revision of our consolidated forecasts, TEL has also revised our annual dividends forecast from 1,061 yen per share to 1,189 yen. (Interim dividends : 562 yen, Year-end dividends : 627 yen)