Japan intends to provide about 730 billion yen ($4.85 billion) in subsidies for Taiwan Semiconductor Manufacturing Co.'s second Kumamoto plant, aiming to boost the country's competitiveness with domestic production of cutting-edge chips.
TSMC, the world's largest contract chipmaker, holds an opening ceremony Saturday for its first plant in Kumamoto, on Japan's southernmost main island of Kyushu. The Ministry of Economy, Trade and Industry is expected to announce the subsidies for the second plant during the ceremony.
Subsidies for the second plant were widely expected, but the government previously said only that no support had been decided on.
Construction of the second TSMC plant is expected to begin this year, with operations starting by the end of 2027. The plant will manufacture 6-nanometer chips, more advanced than what the first factory will produce.
The combined monthly production capacity of both plants will top 100,000 wafers. Toyota Motor and other companies are investing in TSMC's factory operations, and the resulting products are expected to be used for autonomous driving technology and artificial intelligence.
TSMC is investing over $20 billion in both plants. Japan is expected to provide 1.2 trillion yen in support, including for the first factory.
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