Japanese Prime Minister Fumio Kishida toured a new semiconductor plant on Kyushu, which has received over $7 billion in government support. The plant, majority-owned by Taiwan Semiconductor Manufacturing Co., is the company’s first presence in Japan. Kishida expressed his belief that the project will positively impact not only the semiconductor industry but also businesses such as electric vehicles and electronics.
In addition to this, Kishida also conveyed his condolences for the recent earthquake in Taiwan. Japan has allocated around $33 billion to revitalize its semiconductor industry due to shortages caused by the pandemic. The aim is to reduce Japan’s dependence on chip imports and prevent disruptions in industries like automotive manufacturing.
Meanwhile, in the United States, the Securities and Exchange Commission (SEC) announced a pause in implementing its new climate disclosure rule due to ongoing legal challenges. The rule requires certain public companies to report their greenhouse gas emissions and climate risks. However, due to regulatory uncertainty for affected companies, the SEC has halted implementation of the rule until further notice while it continues to be challenged in court.
The SEC emphasized that it remains committed to defending the validity of the climate rule and believes that it acted within its authority to mandate disclosures important for investors. Despite this pause, the rule remains under review in the U.S Court of Appeals for the Eighth Circuit.
