March 4, 2026 /SemiMedia/ — Rapidus has signed an agreement with Canon to develop advanced image processing semiconductors, marking the foundry’s first long-term tie-up with a major Japanese consumer electronics company.

Under the deal, the two firms will work on prototype image processors built on a 2nm process. Development and pilot production will take place at Rapidus’ plant in Chitose, Hokkaido, with Canon involved in chip design and product validation.

The project is expected to require up to 40 billion yen in R&D spending. Japan’s New Energy and Industrial Technology Development Organization (NEDO) will cover roughly two-thirds of the cost, providing key support as Rapidus works to broaden its customer base.

Canon plans to test the 2nm chips in products such as digital cameras and monitoring equipment, where lower power use and higher processing performance are critical. If the devices meet Canon’s targets, the company may move forward with volume production through Rapidus.

According to the roadmap Rapidus submitted to Japan’s industry ministry, the company aims to start mass production of 2nm chips in the second half of fiscal 2027, followed by work toward 1.4nm technology. Total investment is projected to exceed 7 trillion yen, with the company targeting operating profitability around 2030 and a potential IPO around 2031.