Japan gov't to allocate up to 476 bil. yen for TSMC chip plant

The Japanese government will allocate up to 476 billion yen ($3.6 billion) for a Taiwan Semiconductor Manufacturing Co. subsidiary to use in funding the ongoing construction of a plant in southwestern Japan, the industry minister said Friday.In a bid to secure a stable supply of chips, the government backed the plan by Japan Advanced Semiconductor Manufacturing Inc., a joint venture of TSMC, Sony Semiconductor Solutions Corp. and Denso Corp., to set up the factory in Kumamoto Prefecture, industry minister Koichi Hagiuda said.Amid global chip shortages, Japan is aiming to improve the nation'…READ FULL ARTICLE