Japan to pay up to $320M for US company’s chip production

By MARI YAMAGUCHI
Associated Press

TOKYO (AP) — Japan said it is providing a major U.S. chipmaker a subsidy of up to $322 million to back its plan to produce advanced memory chips at a Hiroshima factory. The two countries are stepping up cooperation on expanding manufacturing and supply chains for critical materials. Japan’s Economy and Trade Minister Yasutoshi Nishimura said the government approved the Micron Technologies deal under a law related to economic security. The announcement follows U.S. Vice President Kamala Harris’ visit in Japan where she met with Japanese government and semiconductor officials to seek greater cooperation between the two countries.