Japan's economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday.
Japan's chip-making sector, once the world's No.1 industry in the 1980s, has struggled to maintain its competitive edge, going into steady decline in the past three decades, as regional rivals such as Taiwanese manufacturers make headway.
"Many of the problems Japan faces could be resolved by making use of digital technology ... The key to post-corona growth is to revitalise broader digital investment nationwide." Japan wants world No.1 contract chipmaker TSMC to build plants to supply chips to Japan's electronic device makers and automakers as trade friction between the United States and China could hurt supply chains and demand for the key component grows.