Sony Plans To Invest In Apple Supplier's Japanese Chip Plant: Nikkei Asia

Apple Inc AAPL supplier Taiwan Semiconductor Manufacturing Co Ltd TSM and Sony Group Corp SONY are planning to jointly invest about 800 billion yen ($7 billion) to build a semiconductor factory in western Japan, Nikkei Asia reports.
Sony may also acquire a minority stake in a new company that will manage the factory, located in Kumamoto Prefecture, on Sony-owned land adjacent to the latter's image sensor factory.
The factory will manufacture semiconductors for camera image sensors and chips for automobiles and other products. The factory is likely to go into operation by around 2023 or 2024.
The Japanese government will back the project with subsidies.
Japanese chipmakers quit the race for large-scale chip development by the 2010s and contracted out the production of advanced semiconductors to companies like TSM.
Price Action: TSM shares traded lower by 0.03% at $110.80 in the premarket session on the last check Friday.