Western Digital (WDC) plans to invest $1 billion in Japan through 2030, a "material increase" from the prior five years, Nikkei reported Wednesday, citing an interview with Chief Executive Officer Irving Tan.

The US company plans to develop technologies and production techniques to enhance hard-disk drive performance, expand hiring, and collaborate with research institutions and universities, the report said.

Western Digital will also increase procurement in Japan, which currently accounts for 40% of the company's global sourcing, Tan said, according to the report.

The company's shares rose 7.7% in recent Wednesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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