SONY GROUP CORPORATION surges on strategic partnership with TSMC for next-generation image sensors
SONY GROUP CORPORATION <6758> rebounded sharply. Following the market close on May 8, the company unveiled that its unit Sony Semiconductor Solutions signed a memorandum of understanding with Taiwan Semiconductor Manufacturing Company
Under the tie-up, the firms are considering a joint venture in which SONY would hold a majority stake and be the controlling shareholder. Discussions are also underway regarding development and production lines at SONY’s new plant in Koshi, Kumamoto Prefecture, as well as future capital expenditure by the venture. Additionally, the companies will explore "Physical AI" applications in the automotive and robotics sectors. SONY noted that the agreement is currently non-binding and that the earnings impact is being assessed, pending definitive agreements.
Source: MINKABU PRESS
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