TSMC to raise $9 billion for expansion, open Japan subsidiary

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Photo

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Tuesday it would raise nearly $9 billion from the debt markets to help fund expansion and spend around $178 million to open a Japanese material research subsidiary.

The world's top contract chipmaker last month posted its best-ever quarterly profit and hiked revenue and capital spending estimates to record levels as it forecast "multiple years of growth opportunities".