TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Corporation (TSMC) declined to comment on a report by Japanese media that Denso, an automotive component manufacturer, plans to join the Taiwanese company’s joint venture with Sony.

TSMC previously confirmed it had evaluated the feasibility of setting up a wafer manufacturing plant in Japan, according to InfoTimes. It is said the chipmaker will join Sony in setting up a plant in Kumamoto Prefecture.

Nikkan Kogyo Shimbun on Thursday (Aug. 26) wrote that Denso is also considering joining the venture and is making final adjustments.

The news outlet reported that Sony and Denso will jointly invest in the joint venture and that TSMC will hold 50% of the shares while the rest are held by Japanese investors, including Sony and Denso. The total investment is estimated to be worth about US$8.95 billion (NT$250 billion).

The preliminary framework for building advanced factories in Kumamoto Prefecture will be finalized by Japan’s Ministry of Economy and Trade.

Japanese media has also reported that the latest development of the joint project involves industry leader Toyota too.

TSMC said it does not respond to market rumors and refused to comment on the reports or give any further updates on the project.