Tokyo Electron to Build $167 Million Chipmaking Equipment Plant

(Nikkei Asia) — Chipmaking-equipment maker Tokyo Electron Ltd. said Monday it will spend roughly 22 billion yen ($167 million) to build a production facility in northeastern Japan in anticipation of renewed demand from the semiconductor industry.

The site will be located in Oshu, a city in Iwate prefecture. Manufacturing subsidiary Tokyo Electron Technology Solutions Ltd. has sealed an agreement with Oshu on the location of the facility.