Japan to grant 590 billion yen subsidy to chip startup Lapidas
The Japanese government announced on Tuesday that it has approved a subsidy of up to 590 billion yen (3.9 billion dollars) for chipmaker Rapidus (Rapidus).
The Japanese government approved most of the aid Japan's Ministry of Economy, Trade and Industry was seeking for 19-month-old start-ups. Prior to this, Lapidas had already received several billion dollars from the Japanese government in order to mass-produce chips in Hokkaido by 2027.
Japan's Minister of Economy Saito Ken confirmed the amount of this subsidy at a regular press conference on Tuesday.
This amount is part of the approximately 4 trillion yen that Japan has allocated over the past 3 years to restore its former chip manufacturing capacity. Prime Minister Fumio Kishida plans to provide financial support of 10 trillion yen to chip manufacturers and the private sector, and already $TSM.US$ Kumamoto Plant 1 of $MU.US$ Billions of dollars have been invested in the Hiroshima Plant Expansion Project. Produce advanced DRAM.
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