Tokyo-Japan’s economic stimulus will feature plans to urgently strengthen the chip industry, and the government will also formulate a battery strategy, Trade Minister Hagita said Monday.
Prime Minister Hagiuda announced a plan a few days before he plans to announce a stimulus package worth “tens of trillions of yen” to ease the pain of the COVID-19 pandemic and revive the economy.
The plan followed last week when TSMC announced plans to build a $ 7 billion chip factory in Japan with the Sony Group, a move welcomed by the Japanese government.
Japan’s chip manufacturing sector, which was the world’s number one industry in the 1980s, has been steadily declining over the last three decades and struggling to stay competitive as local rivals such as Taiwanese manufacturers move forward. ..
“The main cause of the 30-year loss was the lack of digital investment,” Hagiuda said at a panel meeting at the ministry.
“Many of the problems facing Japan can be solved by using digital technology … The key to post-Corona growth is to activate a wider range of digital investment nationwide.”
Mr. Hagiuda said the government is considering measures to promote the establishment of large-scale production bases for batteries, which holds the key to achieving green and digital goals.
As trade friction between Japan and China hits the supply chain and demand for major parts increases, Japan will build a factory to supply chips to Japanese electronic equipment makers and automobile makers at TSMC, the world’s number one contract chip maker. I want