Japan's industry minister announced Friday a strategy for domestic production of advanced chips through a new firm set up by eight leading Japanese companies, including Toyota Motor Corp. and Sony Group Corp., pledging to provide 70 billion yen ($494 million) in subsidies. With international competition to secure next-generation semiconductors intensifying, the government aims to produce sub 2-nanometer chips domestically through a partnership with the eight companies by the late 2020s. The recently established firm, named Rapidus, is expected to engage in research, development and manufacturi...
