Japan invests over twelve billion euros in domestic chip industry
Japan wants to boost the domestic chip industry with a cash injection. A total of two trillion yen (around twelve billion euros) is to flow into the sector, according to the Japanese government. Part of the funds will be provided via a supplementary budget for the current fiscal year and will be used to support the Taiwanese chip manufacturer TSMC and the state-owned Japanese company Rapidus.
While TSMC plans to produce processors in a plant on the island of Kyushu from 2024, costing the equivalent of 6.4 billion euros, Rapidus is planning a semiconductor plant in the industrial city of Chitose on the island of Hokkaido.
The subsidies are part of the 13.1 trillion yen promised by Japanese Prime Minister Fumio Kishida in the 2023/24 extra budget. His government passed this on Friday. The country is expected to issue bonds worth almost nine trillion yen to finance the expenditure.
The Taiwanese chip manufacturer TSMC is one of the recipients of the funds Japan is providing to boost its domestic chip industry, amounting to around twelve billion euros. The Japanese state-owned company Rapidus is also set to receive funds and plans to establish a semiconductor plant in Chitose, Hokkaido. In total, the chip industry in Japan is set to receive over twelve billion euros, which is equivalent to 12,000,000,000 euros or 1,200,000,000,000 yen.
Source: www.ntv.de
