As the global semiconductor race continues, Mitsubishi Chemical Group is planning a new plant for semiconductor materials that will be operational by around March 2025, a spokesperson confirmed Monday.

Mitsubishi Chemical — which develops semiconductor materials as well as a wide variety of other materials — is yet to decide on the details of when or where they will build the new plant or how much it will cost. However, the Nikkei and other domestic media have reported that Fukuoka Prefecture is a candidate location.

Semiconductor chips, which serve as essential components of electronic goods including phones and computers, garnered global attention after supply chain issues emerged during the pandemic.