Tokyo Electron (TEL) expects a sharp drop in sales of semiconductor-making gear in the second half of this fiscal year, a downturn that will be deepened and prolonged by new US sanctions on exporting advanced chips and related production equipment to China.   TEL, one of Japan’s largest electronics and semiconductor private companies, has cut its sales guidance for the six months to March 2023 by more than 25%, reminding those who follow the semiconductor industry – and those politicians who think they can manage it – that demand can turn on a dime and that the industry is still highly cyclical. President Toshiki Kawai told analysts and the media that about half of the reduction in anticipated sales, amounting to an estimated 250 billion yen (US$1.8 billion), owes to the impact of US sanctions on China’s semiconductor industry, a risk the company flagged in early August.