15 December 2025 | 11:31PM JST Equity Research Japan Technology: Semiconductor Capital Equipment: Asia Tech Tour: Reaffirming strong AI-related demand as a whole We hosted group meetings for investors with the IR teams of HOYA (Buy), Advantest (Neutral), and Tokyo Electron (Buy) on our Asia Technology Tour over December 8-12. We summarize our key takeaways below. Our overall impression is that the meetings reaffirmed strong demand for AI-related products as a whole. HOYA: Demand remains robust in all major ...