Japan to pay $322 million for US company’s chip production

Japan will subsidize US chipmaker Micron Technology by up to $322 million to support its plan to produce advanced memory chips at a Hiroshima factory.

Japan’s Economy and Trade Minister Yasutoshi Nishimura said he hopes the deal will contribute to further expansion of cooperation between Japan and the US in semiconductor production.

The Japanese government approved the deal under a law related to economic security.

During her visit to Japan, US Vice President Kamala Harris met with Japanese officials and semiconductor company executives to promote greater cooperation in strengthening semiconductor development and production.

Micron was among the companies that participated in the meeting with Harris, along with Tokyo Electron, Nikon, Hitachi High-Tech Group, Fujitsu Ltd.

The US is working to solidify its technology cooperation with Japan, South Korea, and Taiwan while increasing its domestic semiconductor manufacturing amid China’s own investment in computer chips.