Japan vies for ‘last chance’ as major global chip producer

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan is investing 70 billion yen ($490 million) to beef up semiconductor development and production, setting up a consortium that brings together Toyota, Sony and other major companies. The government says the new company called Rapidus, which means “quick” in Latin, will work on developing next-generation, or “post-5G,” semiconductors. The government said the effort will involve working closely with Japan’s ally the U.S. to bring together “the best and the brightest” from both nations. Japan’s economy ministry acknowledged it had fallen 10 years behind the global competition for chips technology, including the U.S., South Korea, Taiwan and some European nations.