Japan to Actively Support Chip Industry thru Fund

Politics

Tokyo, June 2 (Jiji Press)--The Japanese government will actively support the domestic semiconductor industry mainly through a research and development fund, a draft of the forthcoming growth strategy action plan said Wednesday.

The draft, submitted at a meeting of the government's growth strategy council, also called for accelerating efforts to develop hydrogen stations and other facilities needed to realize a carbon-free society.

The government aims to adopt the action plan at a cabinet meeting by the end of June after discussions with the Liberal Democratic Party-led ruling bloc.

Japan "will support the development of cutting-edge semiconductors and the establishment" of chip production bases for the sake of economic security, Prime Minister Yoshihide Suga told the meeting of the council, headed by Chief Cabinet Secretary Katsunobu Kato.

Ensuring stable supplies of semiconductors has become an urgent task due to the rapid progress of digitalization and the continued U.S.-China conflict.

[Copyright The Jiji Press, Ltd.]

Jiji Press