Japanese Prime Minister Fumio Kishida paid a visit to a new semiconductor plant on the island of Kyushu, which has received over $7 billion in government support. The plant, majority-owned by Taiwan Semiconductor Manufacturing Co., marks the Taiwanese company’s first presence in Japan. Kishida stated that he believes the project will have positive effects not only on the semiconductor industry but also on businesses like electric vehicles and electronics.
The Japanese government has allocated around $33 billion to revitalize its semiconductor industry in response to shortages caused by the pandemic. This move aims to reduce Japan’s reliance on chip imports and prevent disruptions in industries such as automotive manufacturing.
Meanwhile, the Securities and Exchange Commission (SEC) announced a pause in the implementation of its new climate disclosure rule due to ongoing legal challenges in the United States. The rule, passed in March, requires certain public companies to report their greenhouse gas emissions and climate risks. The SEC cited the need to prevent regulatory uncertainty for affected companies while the rule is being challenged in court.
The SEC emphasized its commitment to defending the validity of the climate rule, stating that it believes it acted within its authority to mandate disclosures that are important for investors. The rule is currently under review in the U.S. Court of Appeals for the Eighth Circuit.
