Japan to offer 590 bil. yen more aid to Rapidus in chip push

Economy

Japan’s industry minister said Tuesday the government will offer up to 590 billion yen ($3.9 billion) to domestic chip venture Rapidus Corp. in additional financial aid as the country ramps up efforts to strengthen its domestic semiconductor supply chain.

Combined with the 330 billion yen already earmarked by the ministry, the amount of government aid going into the firm will total almost 1 trillion yen.

The move underscores the country’s commitment to reviving the semiconductor industry as chips increasingly become important in ensuring economic security amid growing rivalry between the Unite...

Kyodo News

Kyodo News