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Japan to allocate $5.2 bln to fund chip plants by TSMC, others – Nikkei

Nov 23 (Reuters) – Japan will allocate about 600 billion yen ($5.2 billion) from its fiscal 2021 supplementary funds to assist superior semiconductor producers together with the world’s No. 1 contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), Nikkei reported on Tuesday.

As a part of the stimulus package deal, the Japanese authorities will make investments about 400 billion yen in a brand new manufacturing unit to be arrange by TSMC in Kumamoto prefecture, southwest Japan, according to Nikkei.

TSMC mentioned earlier this month it might construct a $7 billion chip plant in Japan with Sony Group Corp (6758.T), a transfer that was welcomed by the Japanese authorities. learn extra

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The remaining 200 billion yen will go towards organising different factories with a number of initiatives into consideration, together with by U.S. reminiscence chipmaker Micron Technology Inc (MU.O) and Japan’s Kioxia Holdings, the report mentioned.

Japan’s chip-making sector, the world’s greatest within the Nineteen Eighties, has struggled to preserve its aggressive edge, going into a gentle decline prior to now three many years, whereas rivals similar to Taiwanese producers gained floor. learn extra

TSMC, Micron and Kioxia didn’t instantly reply to Reuters’ requests for remark.

($1 = 114.9400 yen)

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Reporting by Jahnavi Nidumolu in Bengaluru;
Editing by Vinay Dwivedi

The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, Jan. 19, 2021. REUTERS/Ann Wang

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