Japan allocates about $350 million for chip facilities
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Update time : 2022-06-18 16:49:37
The Japanese government announced Friday that it will allocate 476 billion yen (about $3.55 billion) for the ongoing construction of semiconductor facilities in the country's southwest, according to local media reports.
Amid a global semiconductor shortage, Japan aims to boost chip supply capacity by funding plants operated by subsidiaries of TSMC (TSMC), according to Kyodo News. Japan's Industry Minister Koichi Hagiuda said Japan Advanced Semiconductor Manufacturing, a joint venture between TSMC, Sony Semiconductor Solutions Inc. and automaker Denso, will open a plant in Kumamoto Prefecture. "We hope it will continue to contribute to the future development of the semiconductor industry, while enhancing the resilience of our semiconductor supply chain," Hagiuda said at a news conference. The subsidiary's three partners will invest $8.6 billion in the plant, including government support, and are scheduled to start production by the end of 2024.
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