Taiwan Semiconductor Manufacturing Eyes Second Chip Plant In Japan Worth Over $7B: Report

Taiwan Semiconductor Manufacturing Company Ltd TSM weighed building its second chipmaking plant in Japan in southwestern Kumamoto prefecture, entailing an investment of over 1 trillion yen ($7.4 billion).
The vital Apple Inc AAPL supplier's second plant will likely be completed in the late 2020s and could use more advanced 5-nm or 10-nm manufacturing processes, Bloomberg reports.
TSMC's first plant in Japan, likely to come online in late 2024, is also in Kumamoto.
TSMC is reportedly in negotiations for government subsidies and investment from customers.
Washington agreed to dole out over $50 billion in incentives for chipmakers to set up operations in the U.S. At the same time, Japan will likely provide similar subsidies to expand its semiconductor production base.
TSMC proposed to work with Sony Group Corp SONY on its new facilities in Japan.
Price Action: TSM shares closed higher by 3.74% at $90.08 on Thursday.