The Japanese government will invest additional 260 billion yens (around $1.9 billion) in Rapidus, a new company created with support of country's major corporations engaged in the development and production of next-generation semiconductors, Japanese media reported on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 25th April, 2023) The Japanese government will invest additional 260 billion yens (around $1.9 billion) in Rapidus, a new company created with support of country's major corporations engaged in the development and production of next-generation semiconductors, Japanese media reported on Tuesday.
In November 2022, the Japanese authorities already announced a 70 billion-yen investment in the venture. The total amount of government financial support will now reach 330 million yen.
"Rapidus is a project that symbolizes cooperation among Japan, the US, and European countries in the field of semiconductors. The government will provide it full-fledged support," Japanese Industry Minister Nishimura Yasutoshi was quoted by the NHK broadcaster as saying.
The additional funding will be used, in particular, to build a new plant on the northern Hokkaido island, with a test production line likely to be launched in 2025. Rapidus aims to start serial production of next generation semiconductors in 2027.
Japanese companies that have teamed up with the government on this project include Toyota, Sony, NEC, SoftBank, Nippon Telegraph and Telephone, Kioxia, Denso and MUFG Bank. Each corporation, except for MUFG Bank, will invest 1 billion yen in addition to funds provided by the government. MUFG Bank Ltd, in turn, will invest about $2.12 million.
Rapidus plans to develop and produce two-nanometer semiconductors, improve technologies and cooperate with research institutes and other enterprises across the globe. The company is expected to boost Japan-US cooperation on microchips development by collaborating with the US National Science and Technology Council and the International Business Machines Corporation (IBM). Rapidus will also work with domestic agents producing equipment and with digital market actors.
