Taiwan Semiconductor Manufacturing Company will formally open its new chipmaking foundry in Kumamoto Prefecture on Feb. 24, its chairman said Thursday, as part of its plan to expand its global manufacturing footprint.

TSMC — whose clients include Apple and Nvidia — controls more than half the world's output of silicon wafers, used in everything from smartphones to cars to missiles.

The company has in recent years had to navigate geopolitical tussles between the United States and China, as the two have faced off over a range of issues including technology imports, trade and Taiwan — the primary manufacturing base for TSMC.