Japan Inks $1.3 Billion in Subsidies for Micron’s Chip Plant (1)

Japan’s government approved as much as ¥192 billion ($1.3 billion) in subsidies for Micron Technology Inc.’s Hiroshima factory, part of Tokyo’s efforts to bolster next-generation chip production at home.

The subsidies will help the Boise, Idaho-based company install Dutch firm ASML Holding NV’s extreme ultraviolet lithography equipment to make advanced chips, Economy Minister Yasutoshi Nishimura said Tuesday. Such chips will be essential to power generative AI, data centers and self-driving technology, he said. The support covers almost 40% of Micron’s investment plans in Japan.

“The market is rough now, but it’s essential that we invest in times like ...