The world’s largest chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC) has announced plans to open a facility in Japan. Construction on the semiconductor fabrication plant is scheduled to begin in 2022 and production will begin there in 2024.
According to TSMC CEO C.C. Wei, the new factory will manufacture chips using 22 and 28 nanometer technologies.
Japanese Prime Minister Fumio Kishida expressed his pleasure with TSMC’s decision on Thursday, saying that the new plant will elevate Japan’s semiconductor industry and boost the country’s economy. He says that he will factor TSMC’s decision to invest in Japan into his economic policy, by offering the company incentives. However, Kishida did not say specifically what kind of incentives his administration was considering.