TOYOF - Sony Semiconductor in pact with TSMC for chip plant in Japan

Japanese electronics maker Sony (NYSE:SONY) and TSMC (NYSE:TSM) plans to jointly build a computer chip plant in Japan with an initial investment of $7 billion. The deal is subject to regulatory approval. Sony Semiconductor Solutions Corp., a wholly-owned subsidiary of Sony Corp., will be a minority stakeholder, with less than 20% equity, investing $500 million in the new TSMC subsidiary, Japan Advanced Semiconductor Manufacturing. The plant in the southwestern city of Kumamoto will be the first foundry in Japan for TSMC (TSM). Construction will start next year for the plant to be up and running by 2024, employing 1,500 high-tech professionals. The move comes as a supply crunch in chips has slammed various Japanese companies, including automaker Toyota Motor Corp. and video-game maker Nintendo Co. (OTCPK:NTDOY), as lockdowns and other coronavirus measures in parts of Asia have hurt chip production. There has been speculation other Japanese companies, such as Toyota Motor

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Sony Semiconductor in pact with TSMC for chip plant in Japan