SBI denies report it is negotiating with SK Hynix, UMC on Japan chip plant

SBI Holdings denied a Nikkan Kogyo newspaper report that it is negotiating with South Korea’s SK Hynix and Taiwan’s UMC about collaboration on a chips plant in Miyagi prefecture.

The report is not true, said a spokesperson for the financial firm on Friday.

SBI aims to collaborate with SK Hynix on back-end DRAM processes and with UMC on chips for vehicles, according to the Nikkan Kogyo report, which did not cite sources.

SBI announced in September it was dissolving a joint venture with Taiwan’s Powerchip Semiconductor Manufacturing Corp.

The companies had been seeking government subsidies to build a foundry in northern Japan. SBI said at the time it would consider partnering with other firms on chip-related business. REUTERS