Prime Minister Shigeru Ishiba’s Cabinet approved a bill Friday designed to allow the government to invest in Tokyo-based Rapidus, which aims to build the world’s first 2-nanometer semiconductor manufacturing plants in Chitose, Hokkaido, through quasi-government entities.
The bill comes nearly three months after the Ishiba government announced that it wants to provide ¥10 trillion ($650.9 billion) in funding by fiscal 2030 for artificial intelligence- and semiconductor-related facilities and equipment, including ¥4 trillion in financial support, a portion of which is expected to help Rapidus’ operation.
If the bill clears parliament, the government will be allowed to issue public bonds to cover the financial resources required for measures to ensure the stable chip production of cutting-edge semiconductors at Rapidus through March 2031.
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