Japan's SBI dissolves chip joint venture with Taiwan's Powerchip (updated)

Powerchip Semiconductor Manufacturing

27/09/2024 11:16

(Recasts with company announcement)
       TOKYO, Sept 27 (Reuters) - Japan's SBI Holdings  8473.T 
said on Friday it has decided to dissolve a joint venture with
Taiwan's Powerchip Semiconductor Manufacturing Corp  6770.TW . 
    The companies had been seeking government subsidies for a
planned foundry in Miyagi prefecture in northern Japan. 
    SBI said it received notice from Powerchip it would be
difficult for them to handle chip manufacturing in Japan and
made the decision to dissolve the joint venture. 
    The financial firm said it will consider partnering on
chip-related business with other companies in Miyagi. 

 (Reporting by Kantaro Komiya; editing by Tomasz Janowski and
Jason Neely)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))