Japan's industry ministry has asked the finance ministry to increase funding for three semiconductor-related funds under the proposed supplementary budget of 3,355 billion yen to boost domestic production and semiconductor development, a strategically important element for the country's economic security, people familiar with the matter said .

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EDITED BY| HUXIANA

 

Economic  section -  CJ journalist

 

Tokyo - October,17,2023

 

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The Japanese government is expected to include measures to facilitate domestic investment in semiconductors and others, in a new economic package due to be released later this month.

Under its additional assistance, the Ministry of industry will provide up to a maximum of 900 billion yen to the second Japanese plant of the Taiwanese semiconductor manufacturing company, which is expected to be built in the southwestern Kumamoto Prefecture.

The Japanese government has already decided to provide up to 476 billion yen in assistance to TSMC's first plant in Japan, which is currently under construction in the city of Kumamoto in Kikuyu in a joint venture with the Japanese Sony Group company and other partners.