Japan PM encourages global chipmaker investment before G7. After meeting senior executives on Thursday before a Group of Seven conference, Prime Minister Fumio Kishida welcomed and expected more investment from global chipmakers in Japan, trying to resurrect its chip business.
The U.S. is pressing its allies to resist China’s semiconductor and advanced technology development during the annual G7 leaders conference on Friday.
Taiwan is a key chip maker for cars, smartphones, and fighter jets, and U.S.-China tensions have hurt the semiconductor business.
Kishida told executives from Micron Technology Inc (MU.O), Intel Corp (INTC.O), and Taiwan Semiconductor Manufacturing Co (2330. T.W.) that the G7 talks in Hiroshima will focus on supply chain stabilization.
“I am very pleased with your positive attitude towards investment in Japan, and would like the government as a whole to work on further expanding direct investment and supporting the semiconductor industry,” Kishida said.
An industry ministry official later said Kishida wanted to foster cooperation to strengthen semiconductor supply chains. In contrast, Industry Minister Yasutoshi Nishimura said Japan would use 1.3 trillion yen of the supplementary budget from the last fiscal year to support the semiconductor business.
Micron, the first semiconductor company to deliver extreme ultraviolet (EUV) technology to Japan, is projected to invest up to 500 billion yen ($3.70 billion) with government help.
On Wednesday, Bloomberg News reported that Japan would provide the business 200 billion yen to build next-generation memory chips.
An industry ministry official said Japan would decide on a Micron subsidy soon.
Kishida will meet with U.S. President Joe Biden on Thursday before the G7 summit from Friday to Sunday.
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