Japan Approves $6.8 Billion Boost for Domestic Chip Industry
- Part of the funds will go to TSMC, Sony’s proposed chip plant
- Prime Minister wants to turn Japan into a global chip power
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The Japanese government approved 774 billion yen ($6.8 billion) in funding for domestic semiconductor investment, backing up Prime Minister Fumio Kishida’s commitment to make the nation a major global provider of essential computer chips.
The package, part of an extra budget for this fiscal year that the Cabinet signed off on Friday, consists of three parts: 617 billion yen to fund domestic investment into cutting-edge chip manufacturing production capacity, 47 billion yen for legacy production such as analog chips and power management parts, as well as 110 billion yen for the research and development of next-generation silicon.