The Japanese government will contribute around 19 billion yen ($173 million) to Taiwan Semiconductor Manufacturing Company (TSMC) to develop chip-making technology in Japan, the Kyodo news agency reported on Monday, citing the industry ministry
MOSCOW (Pakistan Point News / Sputnik - 31st May, 2021) The Japanese government will contribute around 19 billion Yen ($173 million) to Taiwan Semiconductor Manufacturing Company (TSMC) to develop chip-making technology in Japan, the Kyodo news agency reported on Monday, citing the industry ministry.
According to Japanese media, the move is an attempt to solve Japan's challenges of developing the international competitiveness of its local firms in research and advanced semiconductors, which will be crucial for future telecommunication networks and self-driving.
More than 20 Japanese firms and electronics manufacturers are expected to join Taiwan Semiconductor Manufacturing Company the world's leading chip-maker, which is located in Tsukuba, Ibaraki Prefecture, near Tokyo.
Recently, there have been intensifying efforts across the globe to build up the supply chains of chips, with many nations investing heavily in their production base to facilitate development in the digitalization of the economy. The intense competition from South Korea and Taiwan has weakened the semiconductor industry in Japan. However, the Japanese ministry of economy, trade, and industry is anticipating a strategy soon to make Japan a global player in the sector.
