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TOYOTA MOTOR CORPORATION

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Taiwan's TSMC to build first chip plant in Japan amid crunch

11/09/2021 | 06:31am EST

TOKYO (AP) — Japanese electronics maker Sony and TSMC of Taiwan said Tuesday they plan to jointly build a computer chip plant in Japan with an initial investment of $7 billion.

The plant in the southwestern city of Kumamoto will be the first foundry in Japan for TSMC, one of the world’s leading chipmakers. Construction will start next year for the plant to be up and running by 2024, employing 1,500 high-tech professionals.

The move comes as a supply crunch in chips has slammed various Japanese companies, including automaker Toyota Motor Corp. and video-game maker Nintendo Co., as lockdowns and other coronavirus measures in parts of Asia have hurt chip production.

Sony Semiconductor Solutions Corp., a wholly owned subsidiary of Sony Corp., will be a minority stakeholder, with less than 20% equity, investing $500 million in the new TSMC subsidiary, Japan Advanced Semiconductor Manufacturing.

The overall investment is getting “strong support from the Japanese government,” the joint statement said.

The deal is subject to regulatory approval.

Terushi Shimizu, president of Sony Semiconductor Solutions, said the global semiconductor shortage was expected to continue. The partnership with TSMC will help not only Sony but also other companies, he said.

There has been speculation other Japanese companies, such as Toyota Motor Corp., may join the project, but TSMC declined comment, saying nothing was decided.

“We are pleased to have the support of a leading player and our long-time customer, Sony, to supply the market with an all-new fab in Japan, and also are excited at the opportunity to bring more Japanese talent into TSMC’s global family,” said Chief Executive C.C. Wei.

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

Stocks mentioned in the article
ChangeLast1st jan.
SONY GROUP CORPORATION -1.37% 12955 Delayed Quote.-9.26%
TOYOTA MOTOR CORPORATION -2.48% 2284.5 Delayed Quote.11.26%
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Financials
Sales 2022 31 205 B 274 B 274 B
Net income 2022 2 749 B 24 177 M 24 177 M
Net Debt 2022 18 322 B 161 B 161 B
P/E ratio 2022 11,7x
Yield 2022 2,54%
Capitalization 31 569 B 277 B 278 B
EV / Sales 2022 1,60x
EV / Sales 2023 1,44x
Nbr of Employees 366 283
Free-Float 69,9%
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Number of Analysts 20
Last Close Price 2 284,50 JPY
Average target price 2 426,84 JPY
Spread / Average Target 6,23%
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Managers and Directors
Akio Toyoda Director & General Manager-Asia
Kenta Kon Chief Financial Officer, Director & GM-Accounting
Takeshi Uchiyamada Director & Manager-Development Center 2
Keiji Yamamoto Chief Information & Security Officer
Seiji Sakai Manager-Information Systems & IT Management
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