November 10, 2022
Toyota Motor Corporation with a group of eight major Japanese companies, including Sony Group, will join the government to launch a new company to develop and manufacture next-generation semiconductors, with the goal of establishing a high-tech manufacturing system by the end of the 2020s.
As competition for next-generation semiconductor technology increases around the world, the new facility will provide a platform for collaboration with American companies, as well as the government. Toyota supplier Denso, NTT, chipmaker Kioxia Holdings, NEC and SoftBank are among the companies expected to invest in the project, each paying about 1 billion yen ($6.8 million).
Tetsuro Higashi, former CEO of chip maker Tokyo Electron, spearheaded the creation of the new company. MUFG Bank will also participate, and the new company will need investment and support from other companies.
The Japanese Government will support this project through grants and other means. The industry minister on Friday announced plans for the production of high-end buildings through a new company established by Japan’s eight largest companies, promising to provide 70 billion yen ($494) in aid.