SBI Holdings declared the end of its collaboration with Taiwan's Powerchip Semiconductor Manufacturing Corp. in building a chip factory in Miyagi Prefecture. SBI reported that the struggling major Taiwanese foundry stated that it was too challenging to continue the partnership. However, the Japanese internet finance company promised to continue the semiconductor factory project by seeking out fresh collaborators.

In 2023, SBI, PSMC, and the Miyagi prefectural government reached a preliminary agreement to build a chip manufacturing plant in Ohira village, utilizing central government funding, with plans to start producing semiconductors primarily for cars by 2027.

"We are sorry for the breakup with PSMC, but we want to launch a semiconductor business in Miyagi that is bigger than initially planned," SBI said.

Miyagi Gov. Yoshihiro Murai said, "I could not believe for a while the dissolution of the tie-up, as I had watched the relationship of trust between the two companies closely since the prefecture started promoting the plant construction."

Powerchip Semiconductor Manufacturing Corporation produces and markets semiconductor goods, specifically memory chips and other integrated circuits. In 2023, the company ranked as the 8th biggest semiconductor foundry globally, operating four 12 inch and two 8 inch wafer labs.