Tokyo Electron (TEL) is a company that manufactures semiconductor and flat panel display production equipment. It operates through two segments: Semiconductor Production Equipment (SPE) and Flat Panel Display (FPD) Production Equipment. The SPE segment offers coater and developers, etch systems, deposition systems, cleaning systems used in wafer processing, wafer probers used in the wafer testing process, and other semiconductor production equipment. The FPD Production Equipment segment specializes in coaters and developers and etch and ash systems used in the manufacture of flat panel displays.