Tokyo Electron: chip machinery giant with ‘tireless animal spirit’

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Tokyo Electron: chip machinery giant with ‘tireless animal spirit’ - Korea Economic Daily

Quick Summary:

Toshiki Kawai, chief executive of leading chip equipment maker Tokyo Electron Ltd.(TEL), says that the key reason behind their fall was their failure to respond to industry trends that saw explosive growth in demand for PC memory in the 1990s".

Over the next five years, the company plans to spend over 1.5 trillion yen ($10.5 billion) in research and development (R&D), of which 700 billion yen will go to facility upgrades.“We’re also considering a large-scale recruitment, hiring 1,000 people each in Japan and abroad annually, for a total of 10,000 new hires over five years,” he said.

Last year, Tokyo Electron Korea, with about 2,000 employees, posted 1.2 trillion won ($896 million) in sales and an operating profit of 71.1 billion won.