CNS News–The Taiwan Semiconductor Manufacturing Company (TSMC), a giant in the chip industry, is increasing production in Japan as it continues to grow around the world. There will be a second semiconductor manufacturing plant (fab) in the country because “customer demand is rising,” TSMC said in a statement Tuesday.
It was also said that Japan Advanced Semiconductor Manufacturing (JASM), a subsidiary that is mostly owned by TSMC, wants to start building by the end of 2024. The building should be ready to use by the end of 2027. JASM’s first plant is set to open this year, and the total investment in Japan will be more than $20 billion, “with strong support from the Japanese government,” the statement said.
Sony (SONY) and Toyota Motor (TM) have also put money into the business. TSMC says that the plants will create 3,400 skilled jobs when added together. The chip maker is having trouble with delays at its project in Arizona, which is why it is making more chips in Japan.
In 2022, the company said it would build a second semiconductor plant in Arizona, on top of plans for an existing fab. This would bring the total amount of money the company would spend in Arizona from $12 billion to $40 billion. US President Joe Biden has praised the investment as proof that industry in the US “is back.”
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But earlier this year, TSMC said the plant would not be ready until 2027 or 2028 when it was originally supposed to open in 2026. Based in the Taiwanese city of Hsinchu, TSMC makes about 90% of the world’s most advanced chips and sells them to big tech companies like Apple (AAPL) and Nvidia (NVDA).
It makes a lot of parts that are necessary for everything from smartphones to washing machines to work. Most of the time, the company has kept its most advanced manufacturing in Taiwan. However, in recent years, it has been growing overseas because of business pressure and support from several governments. It said last year that it would build its first plant in Europe in Dresden, Germany.