People in Kikuyo have a term to encapsulate a new era of traffic jams, skyrocketing property prices and battles for staff: “the TSMC shock”.
The small Japanese town and its economy have been radically transformed since Taiwan Semiconductor Manufacturing Company began construction of its first factory in Japan five months ago.
“TSMC’s arrival was a bolt from the blue,” Takatoshi Yoshimoto, Kikuyo’s mayor, said in an interview at his office. “We instantly became famous, and it was as if Kikuyo suddenly became an adult from a baby.”
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