The Reuters Tankan showed sentiment among Japanese manufacturers and the services sector improving only modestly over the next three months

The 11% rise in earnings was attributed to demand for memory chips from server customers, which offset inflation-hit smartphone sales

China chipmakers lack the technology to keep it at the forefront of chip design and manufacture, says Jefferies Group analyst Edison Lee.

The Act aims to subsidize the production of semiconductors in the US but the legislation has been hanging as politicians debate why a well-funded sector needs government aid

The first-generation 3nm process can reduce power consumption by up to 45% compared with conventional 5nm chips, the group says. Chinese companies are likely among its initial customers.

GlobalWafers said the plant, which will make 300-milimetre silicon wafers, will start being built this year and it will generate up to 1,500 jobs in Sherman, Texas

Country plans to increase local production of chips as well as displays, advanced chemicals, networking and telecom equipment, batteries and electronics

The model is for Japanese and US businesses to jointly establish a new company, or else Japanese firms could set up a new manufacturing hub in the US

A Korean firm that produces isopropyl alcohol, a raw material for cleaning chip wafers, is facing problems shipping to a Chinese firm that supplies wafers to a Samsung factory in China

The decision to centralize procurement is a sign that chip shortages may persist and are forcing companies to implement more aggressive measures

Apple supplier Foxconn and chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) are among firms looking to access Japanese know-how.

New facility near coastal city Shanghai will represent the company's biggest electronics investment in China to date.