SBI to End Plant Construction Tie-Up with Taiwan Chipmaker

Tokyo, Sept. 27 (Jiji Press)--SBI Holdings Inc. announced Friday the dissolution of its partnership with Taiwan's Powerchip Semiconductor Manufacturing Corp. for the construction of a chip factory in Miyagi Prefecture.

The ailing major Taiwanese foundry has told that maintaining the tie-up became difficult, SBI said.

But the Japanese online financial group vowed to carry out the semiconductor plant project by finding new partners.

In 2023, SBI, PSMC and the Miyagi prefectural government concluded a basic agreement to construct a chipmaking plant in the village of Ohira in the northeastern prefecture with central government subsidies, aiming to launch production of semiconductors chiefly for automobiles in 2027.

"We are sorry for the breakup with PSMC, but we want to launch a semiconductor business in Miyagi that is bigger than initially planned," SBI said.

[Copyright The Jiji Press, Ltd.]