Japan to give Rapidus 260 bil. yen subsidy for new Hokkaido plant

The government will provide chipmaker Rapidus Corp. an additional subsidy of 260 billion yen ($1.9 billion) for a new factory, to be built in Hokkaido, northern Japan, in an effort to boost domestic chip production, the country’s industry minister said Tuesday.

The government had already announced a subsidy of 70 billion yen to the chipmaker for development purposes, bringing the total amount of government support for Rapidus to 330 billion yen. Rapidus was established through an initial 7.3 billion-yen investment by Toyota Motor Corp., Sony Group Corp. and six other major Japanese companies l...