Kioxia And Western Digital JV Secures Up To ¥150B Government Subsidy For Yokkaichi, Kitakami Plants
Portfolio Pulse from Benzinga Newsdesk
Kioxia Corporation and Western Digital Corporation (NASDAQ:WDC) have been approved to receive up to 150 billion yen in subsidies for their Yokkaichi and Kitakami plants. This subsidy, aimed at boosting semiconductor production in Japan, will support the production of advanced 3D flash memory. This is the second time their joint venture has received such support, following a 92.9 billion yen subsidy in 2022.
February 06, 2024 | 7:06 am
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Western Digital Corporation (NASDAQ:WDC) and its joint venture with Kioxia have been granted up to 150 billion yen in subsidies for semiconductor production in Japan, focusing on advanced 3D flash memory.
The substantial subsidy from the Japanese government is a significant financial boost for Western Digital and its joint venture with Kioxia, directly supporting the production of advanced 3D flash memory. This financial support is likely to enhance the JV's competitiveness in the semiconductor market, potentially leading to increased revenues and a positive impact on WDC's stock price in the short term.
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