Japan puts all chips on the table to lure semiconductor makers

Competing with financial power of US and EU seen as a challenge

Visitors look at a display at Semicon China, a trade fair for semiconductor technology. Japan currently relies on China and Taiwan for much of its chip supply. © Reuters

TAKASHI TSUJI, TOMOHIRO EBUCHI and KOSUKE TAKEUCHI, Nikkei staff writers

June 3, 2021 02:19 JST

TOKYO -- Japan will pull out every policy stop to court overseas semiconductor companies, including offering generous financial incentives, under a draft growth strategy released Wednesday, joining the global race to secure supplies of the crucial component.

"Japan will swiftly match efforts by other countries to attract cutting-edge chipmaking facilities so it can build a secure supply chain at home," said the document presented to a Cabinet Office strategy meeting. The Cabinet is slated to approve the document by the end of the month.