Tokyo Electron's (TYO:8035) operating profit is projected to rise 60% to an all-time high of 1 trillion yen for the fiscal year ending March, Nikkei Asia reported on Wednesday, citing CFO Hiroshi Kawamoto.

Kawamoto said client investment momentum remains strong and has picked up further since the company reported its previous full-year results, the report said.

Tokyo Electron ceased issuing full-year forecasts starting this fiscal year due to potential volatility in AI-related client spending, opting instead for half-year guidance, the report said.

The company has projected 458 billion yen in operating profit for the April-September period, a 51% year-over-year increase, while net sales are forecast to grow 37% to 1.62 trillion yen, according to its fiscal first-quarter results published July 30.

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