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▼ Japan Plans $1.6b Extra Budget To Support AI, Chip Industries
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Japan plans to allocate about ¥252.5 billion (US$1.6 billion) in an extra budget to support AI and semiconductor development.
The amount is lower than last year’s ¥1.5 trillion (US$9.59 billion) supplementary budget, as the government shifts toward regular budget funding for these sectors.
Prime Minister Sanae Takaichi’s cabinet approved the proposal on November 28, and the measure now awaits parliamentary approval.
Japan has dedicated around ¥5.7 trillion (US$36.5 billion) to revive its semiconductor industry since launching a new strategy in 2021, backing projects involving Rapidus, TSMC’s Kumamoto foundries, and Micron’s Hiroshima facility.
The Ministry of Economy, Trade and Industry has also requested ¥100 billion for Nippon Export and Investment Insurance to bolster the government-backed insurer’s finances.
Additionally, ¥93.7 billion (US$599 million) has been proposed to help private firms secure rare earths and increase national reserves, part of Japan’s efforts to reduce reliance on China for key minerals.
The amount is lower than last year’s ¥1.5 trillion (US$9.59 billion) supplementary budget, as the government shifts toward regular budget funding for these sectors.
Prime Minister Sanae Takaichi’s cabinet approved the proposal on November 28, and the measure now awaits parliamentary approval.
Japan has dedicated around ¥5.7 trillion (US$36.5 billion) to revive its semiconductor industry since launching a new strategy in 2021, backing projects involving Rapidus, TSMC’s Kumamoto foundries, and Micron’s Hiroshima facility.
The Ministry of Economy, Trade and Industry has also requested ¥100 billion for Nippon Export and Investment Insurance to bolster the government-backed insurer’s finances.
Additionally, ¥93.7 billion (US$599 million) has been proposed to help private firms secure rare earths and increase national reserves, part of Japan’s efforts to reduce reliance on China for key minerals.
- 28/11 19:39
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