SSNLF - Japanese PM reportedly will meet with chip execs to boost cooperation

2023-05-17 09:28:46 ET

Japanese Prime Minister Fumio Kishida is set to meet with executives from some of the world's largest semiconductor companies in an effort to boost cooperation for the industry.

Amid the G-7 summit being held in Japan, Kishida is slated to meet with representatives from Taiwan Semiconductor ( NYSE: TSM ), Intel ( NASDAQ: INTC ), IBM ( IBM ), Micron Technology ( NASDAQ: MU ), Applied Materials ( NASDAQ: AMAT ), Samsung ( OTCPK:SSNLF ) and IMEC as early as tomorrow, Reuters reported , citing two people involved in the planning.

Chief Cabinet Secretary Hirokazu Matsuno said at a press conference that the semiconductor supply chain "cannot be achieved by a single country, and it is extremely important to work together with like-minded countries and regions," the news outlet added.

Japan has worked to boost its semiconductor industry in recent memory after having lost share to countries such as China and Taiwan in recent decades.

Earlier this year, it was reported that Taiwan Semiconductor ( TSM ) was in talks to build a second plant in Japan.

Taiwan Semiconductor ( TSM ) is already building a wafer fab plant in Kumamoto, Japan, with the multi-billion dollar plant having been announced in November 2021.

Samsung ( OTCPK:SSNLF ) is also looking into expanding in Japan. A separate Reuters report on Wednesday said the country could provide $110M in subsidies to the South Korean technology giant for a plant it is considering near Tokyo.

Rapidus, which partners with IBM ( IBM ), is also in talks to get additional subsidies for an advanced chip plant in the country, slated to be on the island of Hokkaido.

More on semiconductors and national security

• U.S. proposes rules to block China, Russia-linked companies from CHIPS funding
• Battle over silicon deepens as Japan restricts chip exports
• Japan, Netherlands agree to join US in Chinese chip export control crackdown: report

For further details see: