Japan Gov't to Allocate up to 476 Bn Yen to TSMC Chip Plant

Tokyo, June 17 (QNA) - The Japanese government will allocate up to 476 billion yen ($3.6 billion) for a Taiwan Semiconductor Manufacturing Co. subsidiary to use in funding the ongoing construction of a plant in southwestern Japan, the Japanese industry minister said Friday.
In a bid to secure a stable supply of chips, the government backed the plan by Japan Advanced Semiconductor Manufacturing Inc., a joint venture of TSMC, Sony Semiconductor Solutions Corp. and Denso Corp., to set up the factory in Kumamoto Prefecture, industry minister Koichi Hagiuda was quoted by Japanese News Agency (Kyodo) as saying.
Amid global chip shortages, Japan is aiming to improve the nation's economic security by supporting the subsidiary of the world's largest contract chipmaker.
The $8.6-billion plant in Kikuyo invested by TSMC, Sony and Denso, a major Japanese auto parts maker, aims to begin the operation in December 2024.(QNA) .