Benzinga | Nov 23, 2021 01:32PM EST

Japan Earmarks $5.2B For TSM, Micron, Other Chip Plants

* Japan looks to allocate ?600 billion ($5.2 billion) from its FY21 budget to support advanced semiconductor manufacturers like Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), Nikkei Asia reports.

* The Japanese government will invest ?400 billion in a new factory by TSM in Kumamoto prefecture, southwest Japan.

* The government will invest the remaining ?200 billion in other factories, including Micron Technology Inc (NASDAQ:MU) and Japan's Kioxia Holdings.

* Related Content: TSM To Build Chip Factory In Taiwan, Specialty Technology Fab In Japan

* Price Action: TSM shares traded lower by 3.87% at $119.93 on the last check Tuesday.