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Japan’s Denso Corp., the world’s second-biggest automotive parts supplier by sales, is joining a project led by Taiwan Semiconductor Manufacturing Co. to build its first chip plant in Japan with Sony Group Corp.

The Toyota group company will invest ¥40 billion ($350 million) in a TSMC-Sony joint venture set up for the plant in Kumamoto Prefecture, it said in a statement Tuesday. Kumamoto Nichinichi Shimbun daily reported on the funding earlier, saying that Denso will be a major customer for the new plant.

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