TOKYO - Powerchip Semiconductor Manufacturing plans to build a chip plant in northern Japan's Miyagi prefecture in cooperation with SBI Holdings with an initial investment of about 400 billion yen ($2.67 billion), the Nikkei business daily said on Friday.

Powerchip aims to bring the new plant into operation in 2026, the paper said.

Reuters reported earlier this month that Powerchip had closed in on five locations for a new plant and was negotiating subsidies to cover part of the first phase.

  - Reuters