Chinese Chipmakers Buy Up Legacy Technology, Tokyo Electron Says

(Bloomberg) — Chinese chipmakers are speeding up investments in mature semiconductor equipment as the U.S. and its allies tighten export controls on cutting-edge technology, according to Tokyo Electron Ltd.

Asia’s biggest semiconductor gear maker is seeing “extremely strong investment” in China and is winning new customers there, Tokyo Electron Chief Executive Officer Toshiki Kawai said Thursday on an earnings call. “This is not just a passing trend for this year,” he said. “We expect this demand to continue.”