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Japan's New Industry Minister Vows Support for Chip Sector
In a bid to revitalise Japan's chip manufacturing industry, the country's new industry minister, Ken Saito, has pledged to continue supporting efforts to boost the sector.
This includes providing subsidies to Taiwanese chipmaker TSMC and the foundry venture Rapidus. Saito emphasised the importance of swift decision-making and execution, which he believes has already yielded positive results.
Saito, who was appointed by Japanese premier Fumio Kishida, aims to build upon the progress made by his predecessor, Yasutoshi Nishimura. The government's initiatives to restore Japan's chip glory also involve financial support for Rapidus, a company led by industry veterans that aims to mass manufacture 2-nanometer logic chips.
TSMC, the world's leading contract chipmaker, has expressed its satisfaction with the Japanese government's support and is considering expanding its operations in Japan. Saito confirmed ongoing discussions with TSMC regarding future projects and stressed the need for continued support for Rapidus. However, he also emphasised the importance of managing progress and evaluating the necessity of backing.
The appointment of Saito comes as part of a cabinet reshuffle aimed at addressing a financial scandal. The government's focus on the chip sector reflects its determination to regain Japan's position as a global leader in chip manufacturing.
Japan's new industry minister, Ken Saito, pledges support for the chip sector.
The government has provided subsidies to TSMC and Rapidus.
Ongoing discussions with TSMC and support for Rapidus are crucial.
Saito aims to build upon the progress made by his predecessor.
Source: REUTERS
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