Taiwan Semiconductor Manufacturing Co (NYSE:TSM) has successfully fueled Japan’s record land price appreciation for the second year, reflecting the importance of the projects on the economy.

The contract chipmaker’s new chip plants on the southern island of Kyushu have been instrumental in driving up land prices by 33.3%, Bloomberg cites Ministry of Land, Infrastructure, Transport and Tourism data.

Prior reports indicated Taiwan Semiconductor was eying a second Japanese plant in Kumamoto, potentially investing $13.5 billion after making its debut in the country with a wafer factory worth $8.6 billion.

Also Read: Taiwan Semiconductor’s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism

It also plans a third advanced chipmaking plant in Japan, worth $20 billion, in Kumamoto prefecture, to produce 3-nanometer chips as Japan overhauls its chip strategy.

Taiwan Semiconductor stock has risen over 88% in the last 12 months as the Big Techs, including Microsoft Corp (NASDAQ:MSFT), Amazon.Com Inc (NASDAQ:AMZN), and Google parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), remain invested in their artificial intelligence technology ambitions.

Recently Samsung Electronics (OTC:SSNLF)-owned Samsung Foundry lost a Google smartphone deal to Taiwan Semiconductor due to Samsung’s outdated technology.

Investors can gain exposure to Taiwan Semiconductor through SPDR S&P Emerging Asia Pacific ETF (NYSE:GMF) and ProShares Nanotechnology ETF (NYSE:TINY).

Price Action: TSM stock is down 1.14% at $167.16 at the last check on Tuesday.

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• What’s Going On With Intel Stock On Tuesday?

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This article Taiwan Semiconductor Fuels Japan's Land Boom With New Chip Plants: Report originally appeared on Benzinga.com

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