Japan is giving a major US chipmaker a subsidy of more than 325 million euros to support its plan to manufacture memory chips at a plant in Hiroshima, Japan’s trade minister said.
The announcement of the Micron Technology subsidy comes on the eve of US Vice President Kamala Harris’ visit to Japan, as the two countries strengthen cooperation on expanding production and supply chains for the highly sought-after materials.
“I hope that the agreement will contribute to the further expansion of cooperation between Japan and the US in the semiconductor sector,” said Yasotshi Nishimura, Japan’s Minister of Economy and Trade.
He stated that the government approved the agreement today under a law related to economic security.
During her visit to Asia this week, Harris met with Japanese officials and semiconductor company executives to seek greater cooperation in boosting semiconductor development and production amid China’s growing influence.
Micron was among the companies that attended the Harris meeting, along with Tokyo Electron, Nikon, Hitachi, High-Tech Group and Fujitsu Ltd.
The US is working to strengthen its technology cooperation with Japan, South Korea and Taiwan as they try to boost domestic semiconductor production amid China’s investment in computer chips.