Japan aims to treble sales of domestically made microchips

Japan’s industry ministry said on Monday it aimed to treble sales of semiconductors made in Japan to 15 trillion yen ($112.55 billion) by 2030 as Tokyo strives to boost domestic microchip production following global supply chain snarls.

Japan sees microchips as strategic products to strengthen its economic security and is providing hefty subsidies to Taiwan Semiconductor Manufacturing Co and others to build plants tin o Japan or have them expand existing facilities.

The ministry plans to put the sales target in Japan’s semiconductor and digital industry strategy, which will be updated by the middle of the year.

Japan has seen its share in the global microchip market tumble from 50% in the late 1980s to around 10%, outperformed by nimbler rivals with deep pockets such as South Korea’s Samsung Electronics Co Ltd. Reuters