TDK to spend $416M on electronics component factory

Japan's TDK Corp. will invest about $416 million on building an electronics component factory, according to a Bloomberg report.

A TDK spokesman said the new factory, located in Yurihonjo, northern Japan, will increase the company's manufacturing capacity of ceramic capacitors by 40 percent. In March, the company disclosed plans to begin building the factory in June and start production in Q2 2008.

TDK is a manufacturer and seller of recording media, electronic materials and components, which include multiplayer ceramic chip capacitors, ferrite cores for coils and transformers, EMC components, sensors and ICs for modems and LAN/WAN applications.