According to reports, TSMC today announced that at a board meeting held on Tuesday, the company's board of directors approved the plan to establish a wholly-owned subsidiary in Japan.

TSMC said last month that it is evaluating the possibility of establishing a material research and development center in Japan. It is reported that in the context of a pandemic, the market's demand for advanced semiconductor equipment and materials is becoming higher and higher.

And TSMC is the world's largest contract chip manufacturer. According to previous media reports, TSMC will set up a research and development facility in Ibaraki Prefecture, located in the Kanto region of northeastern Tokyo.

Today, TSMC’s board of directors formally approved the plan, stating that it will establish a wholly-owned subsidiary in Japan to expand the research of 3DIC (3D integrated circuit) materials, with an investment of no more than 18.6 billion yen (approximately US$186 million).

In addition, TSMC’s board of directors today approved the issuance of unsecured corporate bonds not exceeding NT$120 billion (approximately US$4.4 billion), approved a cash dividend of NT$2.5 per share in the fourth quarter, and approved the distribution of 2020 employee performance bonuses. And profit sharing, totaling about 69.05637 billion Taiwan dollars; and approved capital allocation of about 11.794.8 billion US dollars.