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A Japanese partnership for advanced chip designs brought together eight companies. The Japanese government will offer subsidies totaling around $500 million.

Japan is looking for a solution to the issue with the global semiconductor supply that threatens the stability of its own economy. Eight Japanese companies from various industries were gathered by the government to form a consortium to develop microchips.

The group, which also comprises Sony and Toyota Motor Corporation, will launch a new business called Rapidus. Within five years, sophisticated chip production is expected to begin at the new business that the consortium will lead.

Nishimura Yasutoshi, Minister of Economy, Trade, and Industry (METI), declared that they will assist the new consortium in R&D. Nishimura underlined “industrial collaboration,” describing semiconductors as the “key technology” in the digitization of society. Nishimura stated, “We want to increase Japan’s semiconductor competitiveness through collaborative efforts between academics and the industry.”

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