JAPAN OFFERS $300 MLN BACKING FOR CHIP RESEARCH ORGANISATION

Japan's trade ministry said on Friday it would offer backing worth up to 45 billion yen to an organisation, including chip foundry venture Rapidus, for research into cutting-edge semiconductor technology.

The Leading-edge Semiconductor Technology Center (LSTC) is chaired by Rapidus Chairman Tetsuro Higashi and includes research institutions and universities. The support comes at a time when Japan is making a major push to rebuild its chip manufacturing base.

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