Beijing (PingWest)—Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, said on Tuesday that it will establish a material R&D center in Japan.
According to TSMC, it would raise nearly $9 billion from the debt market to help it expand its business, and spent approximately $178 million to open the R&D center.
Benefited from soaring demand for chips that go into laptops, tablets, smartphones, and other products to support the work and study at home boom around the world during the COVID-19 pandemic, the chipmaker last month posted its best-ever quarterly profit.
It also hiked revenue and capital spending estimates to record levels as it forecast "multiple years of growth opportunities".
The company said in January that it expects to increase capital expenditures for advanced chip production and development to between $25 billion and $28 billion this year, which is 60% higher than 2020 spending.
Last May, TSMC announced that it would build a semiconductor facility in Arizona. The total expenditure of the project will be $12 billion and will directly create 1,600 jobs. Construction is planned to start in 2021 on what would be TSMC’s second manufacturing site in the US.