TSMC’s Q2 Net Profit Grows 20% Amid Chip Shortage
SMC today confirmed that it is in talks to build its first chip factory in Japan. The world’s largest semiconductor manufacturer said it was conducting a due diligence on a project to build a plant in the west of the country.
TSMC plans to build a chip factory in Japan
TSMC previously reported that second-quarter net income rose almost 20% on an annualized basis. It reached $ 4.81 billion. Revenue also grew by almost 20% over the same period last year. The increase comes amid an unprecedented global chip shortage hitting many industries and prompting TSMC to invest heavily in capacity expansion.
In April, the company said it would spend $ 2.8 billion to expand production in the Chinese city of Nanjing, and in June it began construction of a new $ 12 billion factory in Arizona, launching a plan unveiled in May 2020. In total, TSMC plans to allocate $ 100 billion to expand production capacity by 2023.