The Japanese government would invest ￥250 billion (US$1.6 billion) in state-backed Rapidus Corp as part of Japanese Prime Minister Sanae Takaichi’s pledge to boost domestic chipmaking.
The latest funding, which would be distributed over the next two financial years, brings Japan closer to its goal of providing ￥3 trillion in total support to help Rapidus mass-produce 2-nanometer logic chips and potentially challenge industry leader Taiwan Semiconductor Manufacturing Co (TSMC, 台積電).
Under the new arrangement, the government would initially hold only about 10 percent of Rapidus’ voting shares and own the majority of its stake in non-voting stock, Japanese Ministry of Economy, Trade and Industry official Tomoshige Nambu said yesterday.
Photo: Bloomberg
However, the state retains the right to convert them into voting shares to seize majority control if the company faces financial distress.
The government would also acquire “golden shares,” granting it the ultimate veto power over major corporate changes, Nambu said.
Takaichi has doubled down on her predecessors’ semiconductor ambitions, viewing domestic production as a pillar of economic security.
The ministry is set to nearly quadruple its budgeted support for cutting-edge semiconductors and artificial intelligence (AI) development to about ￥1.23 trillion for the fiscal year starting in April.
The push comes as geopolitical tensions and a surge in generative AI heighten the strategic importance of high-end silicon.
On top of state support, Rapidus has also secured ￥167.6 billion from about 30 private companies to help its goal of launching mass production by March 2028.
Still, Takaichi’s government is not pinning its chipmaking ambitions on Rapidus alone. The prime minister has also secured a pledge from TSMC that it would upgrade its technology and plants in Japan.
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