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    Hirakawa

    senior equity analyst at BofA Securities

    Mikio Hirakawa is a senior equity analyst at BofA Securities Japan, specializing in coverage of major Japanese technology and industrial companies. He provides research and recommendations on companies such as Fujitsu Limited, Hitachi, SCREEN Holdings, and Sharp, consistently being recognized as one of the primary analysts for these large-cap firms. Since being appointed as the lead analyst for these firms prior to 2024, Hirakawa has been responsible for delivering influential reports that guide institutional and retail investors, though public quantitative performance metrics and rankings are not currently available. While full details of his career background and professional credentials are not published, his appointment as a senior analyst at BofA Securities and his regular coverage of Japan’s leading technology companies reflect high professional standing and likely possession of key industry qualifications.

    Hirakawa's questions to ADVANTEST (ATEYY) leadership

    Hirakawa's questions to ADVANTEST (ATEYY) leadership • Q2 2024

    Question

    Inquired about the company's market share in the HBM tester business, the potential impact of HBM growth on overall gross margin, and whether the inclusion of front-end wafer testing for HBM would negatively affect profitability.

    Answer

    The company stated they are in a 'very good position' in the HBM market and expect large growth. They anticipate improved margins from this business, despite wafer test margins typically being lower than final test, due to margin improvement actions and the increasing test requirements for larger HBM stacks. They expect a substantial improvement in profitability from current levels.

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