Asia Express - Display
Nitto Denko to Increase Spending Next Fiscal Year
December 31, 2010
Japanese Nitto Denko said that the company will expand its spending on equipment and facilities next fiscal year for the first time in five years, aiming to tap surging demand for touch panel film, according to a December 24, 2010 report by the Bloomberg. Nitto Denko plans to spend 36 billion yen (US$441.7 million; US$1=81.5 yen) this fiscal year, while the company's spending on equipment and facilities in 2006 totaled approximately 75 billion yen (US$920.2 million), Bloomber said. Nitto Denko believes that demand for touch panels will climb significantly along with the demand increase for Smartphones, tablet PCs, and e-book devices.