Financial firm SBI Holdings said on Wednesday it would help Taiwan's Powerchip Semiconductor Manufacturing Corp establish a factory in Japan as the country looks to revive its chip industry.
SBI will establish a company to aid with planning and fundraising, including lobbying for government subsidies, and will help the chipmaker find a location to produce semiconductors for automakers and industrial machinery manufacturers and for a research lab to develop more advanced chips, the Japanese firm's CEO, Yoshitaka Kitao, told reporters.
"This is the best possible time to enter chip manufacturing," Kitao said at a joint press conference with the Taiwanese company's chairman, Frank Huang. Powerchip is currently looking at three or four potential sites and manufacturing could begin two years after construction starts, Kitao added. SBI's partnership with Powerchip comes as Japan provides billions of dollars in subsidies to foreign chip companies to lure them to build or expand production to ensure that its carmakers and technology companies have access to the key component amid growing global demand.
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