Micron Starts Monetizing Cutting-Edge Chip Production In Japan - Micron Technology (NASDAQ:MU)

Memory chip maker Micron Technology Inc MU kicked off mass production of its new high-capacity low-power 1-beta dynamic random access memory (DRAM) chips at its plant in Hiroshima, Japan, Reuters reports.
The U.S. Ambassador to Japan, Rahm Emanuel, and Japanese officials attended a ceremony in Hiroshima to mark the start of the large-scale output, highlighting the growing political importance of semiconductors for the two allies.
The production of Micron's most advanced chip, which can store a third more data than older chips, comes as Japan tries to revive and modernize its once-mighty chip industry.
The Japanese government in September offered Micron 46.5 billion yen ($332 million) to boost production capacity at its plant.
In July, it gave a 93 billion yen subsidy to rival memory chip makers Kioxia Corp and Western Digital Corp WDC to help it expand output at their joint factory in Japan.
Taiwan Semiconductor Manufacturing Company Ltd TSM weighed expanding its production capacity in Japan to reduce geopolitical risk.
The Japanese government has allowed TSMC to expand in the country beyond a factory already under construction.
The critical Apple Inc AAPL supplier is building its first chip-manufacturing plant in Japan, located on the southern island of Kyushu.
Price Action: MU shares traded higher by 0.46% at $63.39 in the premarket on the last check Wednesday.
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