The first phase of the project in the Miyagi Prefecture north of the capital Tokyo, will require a 420 billion yen investment. Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) and Japanese financial conglomerate SBI Holdings have chosen a site in northern Japan for an 800 billion yen ($5.3 billion) chip manufacturing plant, the two firms said Tuesday. The PSMC and SBI factory will manufacture semiconductors in the 28 nanometer, 40 nanometer and 55 nanometer categories. U.S. memory chipmaker Micron announced in May that it would invest up to 500 billion yen in Japan over the next few years, including into manufacturing. In June, a fund backed by the Japanese government proposed a 903.9 billion yen acquisition of semiconductor materials giant JSR .

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Organizations: SBI Holdings, Powerchip Semiconductor Manufacturing Corporation, SBI, Toyota, Honda, Micron Locations: Japan, Miyagi Prefecture, Tokyo, U.S, China