Japanese leaders emphasize ties with Taiwan and support for key technologies

Japanese Prime Minister Fumio Kishida (center) visits the Taiwan Semiconductor Manufacturing Company's factory in Kikuyo Town, Kumamoto Prefecture, and receives an explanation on Saturday, April 6, 2024. On the right is CC Wei, CEO of Taiwan Semiconductor Manufacturing Company. (Japan Pool/Kyodo News via AP)

Japanese Prime Minister Fumio Kishida on Saturday visited a new semiconductor factory where the government has pledged more than $7 billion in aid to ensure a steady supply of chips. The new factory in southwestern Kyushu is mostly owned by Taiwan Semiconductor Manufacturing Company, and will be the Taiwanese semiconductor giant's first factory in Japan.

“We believe this project will have a positive ripple effect across Japan,” he said, adding, “It is key not only for the semiconductor industry, but also for a wide range of businesses such as electric vehicles and electronics.”

Prime Minister Kishida expressed his sympathies regarding the earthquake that recently struck Taiwan. Japan recently allocated about $33 billion to revive its chip industry, aiming to reduce dependence on imports following pandemic-era shortages that affected auto production and other industries for months.

SEC suspends climate change rules amid legal challenges

The U.S. Securities and Exchange Commission announced it would pause implementation of new climate disclosure rules while it defends the regulations in court.

Wall Street's top regulator voted in March on a final rule that would require some publicly traded U.S. companies to report on their greenhouse gas emissions and climate risks. The measure faced almost immediate legal challenge.

The SEC said it maintained the rule to avoid regulatory uncertainty for companies that may be subject to the rule as litigation against it progresses.

The SEC said it continues to “strongly defend” the effectiveness of its climate change rules and believes it acted within its authority to require disclosures that are important to investors. The rule is under review by the U.S. Court of Appeals for the Eighth Circuit.