Western Digital, Kioxia Corporation jv facilities to receive 150B yen subsidy

Kioxia Corporation and Western Digital announced that their joint venture manufacturing facilities at Yokkaichi and Kitakami plants have been approved to receive an up to 150B yen subsidy, including facilities that will produce its latest generation of 3D flash memory based on the innovative wafer bonding technology and future generation advanced nodes. The subsidy will be granted under a designated government program aimed at facilitating corporate investment in cutting-edge semiconductor production facilities and securing stable production of semiconductors in Japan. This marks the second time that Kioxia’s and Western Digital’s joint venture manufacturing facilities are receiving this subsidy from the Japanese government. Previously, the joint venture manufacturing facility at Yokkaichi was approved to receive up to 92.9B yen subsidy from the Japanese government in 2022. Leveraging an over 20-year joint venture partnership, Kioxia and Western Digital will continue to enhance the development and production capabilities of cutting-edge flash memory at the Yokkaichi and Kitakami plants in Japan. In addition, the two companies will contribute to the development of semiconductor-related industries and talent.