Japan to Invest 1.4 T. Yen in Semiconductor Industry

Politics

Tokyo, Dec. 15 (Jiji Press)--Japan's public and private sectors will together invest over 1.4 trillion yen to strengthen the country's semiconductor industry, Prime Minister Fumio Kishida said Wednesday.

"We'll establish a large-scale fund to strengthen the chip industry and make a bold investment of over 1.4 trillion yen by the public and private sectors," Kishida said in a video message to mark the opening of the three-day Semicon Japan semiconductor trade show in Tokyo.

"It's important for the country's economic security to strengthen its capabilities to develop and manufacture semiconductors, a sensitive technology," he said.

The government has earmarked over 600 billion yen in its fiscal 2021 supplementary budget proposal to support the chip sector, regarding semiconductors as one of strategically important goods for the country's economic security.

Legislation is now before parliament to set up the fund to support the construction of plants to make advanced chips in Japan.

[Copyright The Jiji Press, Ltd.]

Jiji Press