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Japan to spend $2.4bn on joint chip research hub with U.S.

Domestic chip production also earmarked for supplementary budget

TOKYO -- Japan plans to budget 350 billion yen ($2.38 billion) in a research collaboration with the U.S. on the development of next-generation semiconductors.

The spending is included in a secondary supplementary budget bill for the current fiscal year that will also include 450 billion yen toward bringing production hubs for advanced chips to Japan as well as 370 billion yen for securing materials essential for manufacturing.

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