According to Reuters, Micron recently revealed that the Japanese government will provide about $320 million in subsidies to Micron for its investment in a Hiroshima plant to manufacture advanced memory chips.

Micron's chief commercial officer Sumit Sadana said that in the past few months, Micron Technology has lowered its growth forecast for PC and smartphone memory chip sales and expects to cut capital expenditures by 30% in fiscal 2023.

The Japanese government said in July that it would subsidize a joint venture between Kioxia and Western Digital by 92.9 billion yen to increase the output of flash memory chips at the joint venture's Japanese factory.