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Japanese Government Invests $500 Million in New Chipmaking Venture

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The government of Japan has announced that it will invest ¥70 billion ($500 million) in a new venture to produce advanced microchips. This latest effort by the government is part of an attempt to reassert Japan as a leading maker of bleeding-edge semiconductor products. However, the announcement, first reported by Reuters (opens in new tab), describes this as an ‘initial’ investment, suggesting that the Japanese government could put more money on the table in the coming years.

(Image credit: Aleksandar Pasaric on Pexels)

The project involves the creation of a new company called Rapidus. Rapidus will be a joint venture between existing Japanese high-tech stalwarts such as Sony and NEC, plus Softbank, Kioxia, Mitsubishi and Toyota. There are even calls to persuade U.S. and European firms to come on board, too, according to an unidentified official who spoke to Reuters.

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