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Japan to subsidize TSMC's Kumamoto plant by up to $3.5bn

Backing to come from METI fund intended to strengthen domestic chip sector

The Taiwanese company and its Japanese partners could start receiving payments by the end of this year.   © Reuters

TOKYO -- Japan's Ministry of Economy, Trade and Industry (METI) will offer subsidies worth up to 476 billion yen ($3.5 billion) for a semiconductor plant being built in Kumamoto Prefecture by Taiwan Semiconductor Manufacturing Co. (TSMC), Sony Group and Denso, the ministry said on Friday.

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