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Semiconductors

Japan to give Micron Technology up to $320m to boost chip output

Subsidy highlights joint efforts of Washington, Tokyo in tech race with Beijing

U.S. chipmaker Micron Technology will use the money to build advanced memory chips at its plant in Hiroshima. (Photo by Ryosuke Eguchi)

TOKYO (Reuters) -- Japan will give Micron Technology a subsidy of up to 46.5 billion yen ($320 million), the trade and industry ministry said on Friday, to help build advanced memory chips at its Hiroshima plant, as the U.S. chipmaker trims capital investment elsewhere.

The financial aid announcement, which follows the visit to Japan by U.S. Vice President Kamala Harris, is the latest example of growing cooperation between Washington and Tokyo in chip manufacturing amid increasing tension and an intensifying technology rivalry with China.

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