Japan’s government and businesses are racing to bring a fire-damaged automotive chip plant back online, underscoring how important the component has become in a supply chain under strain because of booming demand for semiconductors.
The Japanese Ministry of Economy, Trade and Industry is mobilizing to help Renesas Electronics Corp, one of the top providers of chips used in auto electronics, procure equipment after a fire broke out at one of its plants on Friday.
Renesas CEO Hidetoshi Shibata said that he is pushing to resume operations at the facility within a month, while the nation’s automakers, who depend on Renesas to supply semiconductors, are dispatching workers to the damaged site to help with recovery activities.
Photo: Reuters
The widespread and coordinated efforts reflect the importance of the auto sector and chips for the world’s third-largest economy.
The two sectors are at the top among Japan’s export categories, with ￥9.6 trillion (US$88.5 billion) of motor vehicles sold abroad last year, along with ￥4.1 trillion in chip exports.
Kazumi Nishikawa, director of the ministry’s IT industry division, said that equipment makers have been asked to support Renesas and ensure that the company’s orders are given priority.
“Renesas says it will do its best to target one month, so our position is to support it,” Nishikawa said.
The ministry is scheduled to hold a panel meeting today to discuss chip strategies with Shibata, executives from Tokyo Electron Ltd and Kioxia Holdings Corp, and representatives from the auto sector.
Toyota Motor Corp said that it dispatched workers to help at Renesas’ damaged facility.
The automaker is to examine on-the-ground conditions and come up with response measures, Toyota spokeswoman Shiori Hashimoto said.
Nissan Motor Co also dispatched workers to the plant, a spokeswoman said.
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