Japan is targeting a tripling of sales in domestically-made semiconductors by the end of the decade as it plots a comeback against its regional rivals.
The country’s industry ministry said on Monday it aimed sell 15 trillion yen ($112.55 billion) worth of advanced microchips by 2030 as Tokyo strives to boost domestic production following the global supply chain snarls caused by the Covid pandemic.
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Japan sees microchips as strategic products to strengthen its economic security and is providing hefty subsidies to Taiwan Semiconductor Manufacturing Co and others to build plants in Japan or have them expand existing facilities.
The ministry plans to put the sales target in Japan’s semiconductor and digital industry strategy, which will be updated by the middle of the year.
Japan has seen its share in the global microchip market tumble from 50% in the late 1980s to around 10%, outperformed by nimbler rivals with deep pockets such as South Korea’s Samsung Electronics Co Ltd.
- Reuters with additional editing by Sean O’Meara
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