Tokyo Electron Employee Involved in Taiwan Semiconductor Trade Secret Scandal

Tokyo Electron Ltd revealed that a former employee of its Taiwan subsidiary is linked to a Taiwanese investigation into stolen trade secrets from Taiwan Semiconductor Manufacturing Co. The company is cooperating with authorities and asserts no confidential information was shared. This incident affected Tokyo Electron's share price.

An investigation by the Taiwan High Prosecutors Office has implicated a former employee of Tokyo Electron's Taiwan subsidiary in a case involving the theft of technology trade secrets. The allegations center on stealing proprietary details from Taiwan Semiconductor Manufacturing Co (TSMC), the leading chip foundry globally.

In response, Tokyo Electron has dismissed the implicated employee, asserting after an internal probe that no confidential information reached third parties. The company is actively cooperating with authorities but has withheld further commentary due to the ongoing judicial review.

This revelation has hit Tokyo Electron's financial standing, causing a 3.2% drop in its share price, even as the broader Nikkei average sees an uptick.

(With inputs from agencies.)