TOSBF - Toshiba to spend $870M on new semi fab facility in Japan: report

Toshiba (OTCPK:TOSBF) could spend $873 million to build a new semiconductor fab in Japan, with the plant up and running by March 2025, according to Japanese news outlet Nikkei. The plant would be built on the grounds of Kaga Toshiba Electronics to help meet the global demand for chips and curb some of the shortage that has been exacerbated by the pandemic and the rise in demand for semiconductors. The equipment used would be compatible with 300 millimeter wafers, which would make it more efficient than previous wafers, which were 200 millimeters in size, Nikkei added. Seeking Alpha has reached out to Toshiba with a request for comment. Last month, Toshiba's (OTCPK:TOSBF) second-largest shareholder, Singapore-based fund 3D investment Partners, which has a 7.6% stake, called for a special shareholder meeting to vote on the company's plan to split into three companies.

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Toshiba to spend $870M on new semi fab facility in Japan: report