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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Japan's Resonac to open chip packaging R&D centre in US

Sam Nussey
·1 min read

By Sam Nussey

TOKYO, Nov 22 (Reuters) - Japanese chip materials maker Resonac said on Wednesday it will set up a research and development centre for advanced semiconductor packaging and materials in Silicon Valley.

The packaging stage of production is increasingly being seen as critical for driving advances in chip technology, with the U.S. this week kicking off a $3 billion programme to boost its packaging capabilities.

Resonac, formerly Showa Denko, is a leading manufacturer of materials for packaging such as films and plans to begin operations at its new centre in 2025.

Japanese chip sector firms are seeking deeper ties with the U.S. with foundry venture Rapidus planning to open a sales office there by the end of the current financial year. (Reporting by Sam Nussey; Editing by Christopher Cushing)