Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its board of directors has approved investment of ¥282 billion (US$1.77 billion) to form a joint venture with Sony Semiconductor Solutions Corp to develop and manufacture next-generation image sensors for smartphones in Japan.
The joint venture, Advanced Vision Semiconductor Manufacturing Corp, would be sited in Koshi City, Kumamoto Prefecture, TSMC said in a statement.
It should commence volume production in 2029, TSMC said.
Photo: Reuters
Sony Semiconductor would invest ¥465 billion in the joint venture through a combination of cash and assets, the statement said.
These capital contributions are expected to be made in phases based on market demand and other economic conditions, it said.
In addition to Sony and TSMC, the Japanese government is also offering financial support to the new venture, the statement said.
The establishment of the joint venture and completion of the transaction are subject to regulatory approval, it added.
TSMC’s board yesterday approved a cash dividend distribution of NT$7 per common share for the second quarter, retaining the record level issued in the first quarter.
The distribution represented a payout ratio of 25.69 percent based on the chipmaker’s earnings of NT$27.25 a share during the second quarter.
To meet long-term capacity plans and to support TSMC’s technology roadmap, the board yesterday approved capital appropriations of US$29.44 billion to upgrade the company’s capacity in advanced technology and advanced packaging as well as to construct and install new fab facilities.
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