Sony and chip manufacturing giant TSMC have entered into a preliminary agreement to co-develop a Japan-based sensor fabrication facility with the goal of producing the next generation of image sensors. The two companies today announced what they are calling a non-binding memorandum of understanding to form a strategic partnership for the co-development and co-manufacturing of image sensors. The proposed joint venture would feature Sony as the majority and controlling shareholder, allowing it to set up the facility in a newly constructed fabrication facility in Koshi City, Kumamoto Prefecture — that is one of the most southern regions of Japan on the island of Kyushu. The joint venture would rely on Sony’s experience with sensor design, combined with TSMC’s manufacturing acumen, to create sensors with enhanced performance over what is available today.…