Japanese gov't owns 11% voting rights in Rapidus to push domestic chip output

The Japanese government announced on Friday that it has become the largest shareholder in state-backed chipmaker Rapidus Corp, holding 11.5 percent of its voting rights. This move is part of a 100 billion yen ($660 million) investment aimed at establishing a stable domestic supply of semiconductors. Rapidus, which was established in 2022 by eight major Japanese companies including Toyota and Sony, aims to mass-produce advanced 2-nanometer chips by 2027. The government's direct stake is intended to facilitate easier fundraising from private financial institutions by demonstrating long-term state commitment to the project. This development occurs as Japan seeks to bolster its economic security and technological sovereignty in the global semiconductor market.