Japan Earmarks $5.2B For TSM, Micron, Other Chip Plants

Japan looks to allocate ¥600 billion ($5.2 billion) from its FY21 budget to support advanced semiconductor manufacturers like Taiwan Semiconductor Manufacturing Co Ltd TSM, Nikkei Asia reports.
The Japanese government will invest ¥400 billion in a new factory by TSM in Kumamoto prefecture, southwest Japan.
The government will invest the remaining ¥200 billion in other factories, including Micron Technology Inc MU and Japan's Kioxia Holdings.
Related Content: TSM To Build Chip Factory In Taiwan, Specialty Technology Fab In Japan
Price Action: TSM shares traded lower by 3.87% at $119.93 on the last check Tuesday.