Tokyo Electron projects profit slump on U.S. chip export controls

Trade restrictions on China blamed for half of downgrade in annual sales

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Tokyo Electron workers stand in front of equipment at a plant in Japan's Kumamoto prefecture. (Photo courtesy of Tokyo Electron)

KENTARO TSUTSUMI, Nikkei staff writer

TOKYO -- Tokyo Electron drastically downgraded its full-year earnings forecast Thursday, as the Japanese producer of chipmaking equipment warned that tougher U.S. trade restrictions against China's semiconductor industry will depress sales.

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