Japan govt to invest extra 400 billion yen in Rapidus
The Japanese Ministry of Economy, Trade and Industry plans to invest an additional 400 billion yen in semiconductor maker Rapidus Corp. over the three years through fiscal 2029, JIJI Press reports.
The proposed investment, disclosed Monday at a subcommittee meeting of the Fiscal System Council, which advises the finance minister, would bring the government's total investment in the Tokyo-based company to 650 billion yen.
The investment is designed to raise Rapidus' equity ratio, making it easier for the company to obtain loans from commercial lenders.
The Government has already decided to invest 250 billion yen in the chipmaker, which aims to mass-produce advanced semiconductors.
The industry ministry seeks 150 billion yen for the fresh investment in its fiscal 2027 budget request. It hopes to request an additional 150 billion yen for fiscal 2028 and 100 billion yen for fiscal 2029.
Earlier, it was reported that Japan launched the world's first Mars moon sample-return mission.