TOKYO -- Japanese semiconductor equipment manufacturers reported the 90-day moving average bookings fell 3.9% from last year to ￥99,304 million in January.

The book-to-bill ratio fell 140 basis points from the revised December figure to 1.06, SEAJ said. A ratio of 1.06 means that ¥ 106 worth of new orders was received for every ¥100 of product billed for the month.

The three-month average of worldwide bookings in January was down 1.5% from the revised December level of ￥100,788 million. Billings rose 10.6% from December to ¥ 93,245 million, but slipped 10.3% year-over-year.

Semiconductors are considered a leading indicator for future printed circuit board sales.