Japan looking to beef up chip, storage battery sectors as part of stimulus plan

Japan looking to beef up chip, storage battery sectors as part of stimulus plan

Information about Japan looking to beef up chip, storage battery sectors as part of stimulus plan

Kevin David


By Tetsushi Kajimoto
TOKYO (Reuters) -Japan’s economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday.
Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth “several tens of trillion yen” to ease the pain of the COVID-19 pandemic and revive the economy.
The plan followed an announcement by Taiwan Semiconductor Manufacturing Co (TSMC) last week on planned construction of a $7 billion chip plant in Japan with Sony Group, a move that was welcomed by the Japanese government.
Japan’s chip-making sector, once the world’s No.1 industry in the 1980s, has struggled to maintain its competitive edge, going into steady decline in the past three …

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