Expanding into Japan, to alleviate the tensions of Global Trade
The DENSO Corporation (Denso) will take a 10% stake in the new chip plant in Japan being constructed by Taiwan Semiconductor Manufacturing Co (TSMC). The new chip plant will cost $7.0 billion and set to start producing semiconductors by the end of 2024. This move comes in response to the ongoing trade friction between the United States and China, and the over all current global supply line issues. Denso’s 10% equity stake equals to roughly $350 million in investment. Automotive industry has particularly been hit by the global chip shortage, so this move by Denso helps create a steady supply in Japan.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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