Taiwan Semiconductor Manufacturing Company says it is considering building a second plant in Japan.

TSMC, the world's largest contract manufacturer of chips for smartphones and other products, held an online news conference on Thursday.

CEO C. C. Wei noted that as conditions for building a second plant in Japan, customer demand and the level of government support need to be reasonable.

TSMC is currently building a new factory in Kumamoto Prefecture, southwestern Japan, with Sony Group and other partners. The Taiwan chipmaker plans to start mass production at the plant by the end of 2024.

TSMC has been invited by a number of countries to set up factories there.

Last month, TSMC announced a plan to build a new factory in the US state of Arizona to produce its most advanced chips.

TSMC released its earnings report. It stated that its full year revenue for 2022 hit a record of about 74.3 billion US dollars, up 42.6 percent from the year before.

The company also said its net profit increased more than 70 percent to another record of about 33.3 billion US dollars.