Gate-All-Around, 3D DRAM, 3D NAND: Deposition Demand Outlook

IPO Context and Business Scope Kokusai Electric (KE) is preparing to list publicly, with the selling shareholder divesting roughly 30% of shares in an all-secondary offering. The company is focused on thin-film deposition—especially batch Atomic Layer Deposition (ALD)—with additional exposure to surface treatment. About 30% of revenue is services, including some legacy 200 mm equipment; service intensity is lower than...

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