Apr. 4, 2023 /SemiMedia/ -- According to Reuters, Japan's Ministry of Industry recently said it aims to triple sales of semiconductors made in Japan to 15 trillion yen ($112.55 billion) by 2030.

The report pointed out that Japan's share of the global semiconductor market has fallen from 50% in the late 1980s to about 10% now. Japan has struggled to boost domestic microchip production after global supply chains struggled.

Japan views semiconductors as a strategic product to strengthen its economic security and provides huge subsidies to companies such as TSMC to build factories or expand existing facilities in Japan.