Japan to give ¥92.9 billion subsidy to Kioxia-Western Digital chip plant

Japan will provide a subsidy of up to ¥92.9 billion ($680 million) to Kioxia Corp. and Western Digital Corp. for a semiconductor production facility as part of efforts to secure stable domestic chip production, the industry minister said Tuesday.

Economy, Trade and Industry Minister Koichi Hagiuda said the government had approved the capital investment plan to enhance the capacity of the facility, which is a joint venture by Kioxia with the U.S. chip giant.