TOKYO (Reuters) - Japan's trade ministry said on Friday it would offer backing worth up to 45 billion yen ($301 million) to an organisation, including chip foundry venture Rapidus, for research into cutting-edge semiconductor technology.
The Leading-edge Semiconductor Technology Center (LSTC) is chaired by Rapidus Chairman Tetsuro Higashi and includes research institutions and universities.
The support comes at a time when Japan is making a major push to rebuild its chip manufacturing base.
Underpinned by billions of dollars in subsidies, Rapidus aims to mass manufacture 2-nanometre logic chips in Hokkaido and compete with leading companies such as Taiwan's TSMC (2330.TW), opens new tab.
TSMC, this week, announced it would build a second fab in Japan to begin operation by 2027 in a vote of confidence in the country as a base for manufacturing.