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Electronics Production |

Japanese government could guarantee Rapidus's loans

Japan's Ministry of Economy, Trade and Industry is preparing to support Rapidus's plan to build an advanced semiconductor manufacturing plant in Hokkaido, northern Japan.

Online reporting from Nikkei says the government will provide loan guarantees to help Rapidus raise about YEN 5 trillion (USD 32 billion) funds from private-sector banks. The chip maker wants to build a new facility to produce cutting-edge 2-nanometer chips by 2027. The ministry has already decided to offer 920 billion yen in subsidies.

Rapidus represents Japan's best hope of competing in the chip manufacture space. It was set up in 2022 by eight major Japanese companies including Toyota Motor Corp. and Sony Group Corp. However, it has no track record of producing chips. This is obviously making it harder for the firm to attract funding – hence the government action.
 


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June 13 2024 1:49 pm V22.4.55-1