Japan Govt Invests More in Chipmaker Rapidus

(The first sentence of the fifth paragraph should have read, “…additional investment will give the government…,” instead of as sent. A substitute story follows.) Japan Govt Invests More in Chipmaker Rapidus Tokyo, June 5 (Jiji Press)–The Japanese government has invested 150 billion yen more in Rapidus Corp. to support the domestic chipmaker’s efforts to produce cutting-edge semiconductors, industry minister Ryosei Akazawa said Friday. The government made the investment through the Information-technology Promotion Agency, following 100 billion yen in capital injection into the company in February. The latest funding will support Rapidus’ push to mass-produce 2-nanometer chips and advance research on 1.4-nanometer chips. Rapidus is “a cornerstone of the government’s growth-oriented investment strategy,” Akazawa said at a press conference. “We must ensure its success for the sake of national interest.” The additional investment will give the government up to 60 pct of voting rights in Rapidus if the company faces financial difficulty. Usually, the government will limit its voting rights to 11.5 pct, the minimum level held by a largest shareholder, to avoid interfering with the company’s management decisions. The government is also considering providing Rapidus with its own assets at the company’s production site in exchange for equity in the firm. The government has already provided roughly 2.4 trillion yen in research and development support to Rapidus. It is weighing 300 billion yen in additional assistance for fiscal 2027. END [Copyright The Jiji Press, Ltd.]