April 4, 2024 /SemiMedia/ -- According to reports, Japan has approved subsidies of up to 590 billion yen ($3.9 billion) to local chip company Rapidus to invest more in semiconductor manufacturing to catch up with global leaders.
Japan's Ministry of Economy, Trade and Industry said the additional funds will help Rapidus purchase chip manufacturing equipment and develop advanced back-end chip manufacturing processes. The next-generation semiconductors being developed by Rapidus are the most important technologies that will determine the future of Japan's industrial and economic growth. This fiscal year is extremely important for Rapidus.
The 19-month-old startup has so far secured billions of dollars in public funding to mass-produce chips in Hokkaido and compete with leading TSMC and Samsung.
The $3.9 billion in funding is part of about 4 trillion yen that Japan has set aside over the past three years to restore Japan's previous chip manufacturing capabilities.
