Industry Ministry to Invest Additional 150 B. Yen in Rapidus
Tokyo, Aug. 24 (Jiji Press)--Japan's industry ministry will include in its fiscal 2027 budget request 150 billion yen for an additional investment in Rapidus Corp., which aims to start mass-producing cutting-edge semiconductors, it was learned Monday. The ministry will invest in the Japanese chip company through the Innovation Platform Agency. So far, the government has invested 250 billion...
On August 24, the Japanese industry ministry informed that it will allocate an extra 150 billion yen in its fiscal 2027 budget request towards Rapidus Corp., as reported by Jiji Press. Rapidus is a Japanese chip company striving to commence mass production of advanced semiconductors. The ministry's involvement in the company is through the Innovation Platform Agency, where the government has already invested 250 billion yen.
The ministry anticipates that this additional investment will bolster the company's financial footing and stimulate further private investments. Moreover, the ministry has earmarked approximately 2.4 trillion yen for research and development assistance to Rapidus, and is contemplating an additional provision of 300 billion yen. Besides government backing, major banks in the country, such as MUFG Bank, are set to contribute around 2 trillion yen in loans to the chipmaker. The ministry will guarantee approximately 80% of these loans.
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