Japan, US Agree to Boost Cooperation in Semiconductor Production

MOSCOW (Sputnik) - Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura on Friday held a meeting with US Secretary of Commerce Gina Raimondo in Washington, where the sides agreed to boost cooperation in the field of semiconductors production on the Japanese territory.

"As for semiconductors, biotechnology, and other important emerging technologies, Japan and the US should join forces to together drive global innovation," Nishimura said at a press conference after the meeting, as broadcast by Japanese TV channel.

The minister also said that the Japanese government had decided to invest 70 billion yen [$526 million] into semiconductor company Rapidus and is going to continue to provide assistance.

The ministerial meeting was attended by the chiefs of both companies, where the parties discussed issues of joint training of personnel for Rapidus at IBM facilities, promotion of sales channels and others.

Rapidus is intended to develop and produce 2-nanometer semiconductors, improve technologies and cooperate with research institutes and other enterprises all over the world. The company is expected to boost Japan-US cooperation on microchips development by collaborating with the US National Science and Technology Council and IBM. Rapidus will also work with domestic agents producing equipment and with digital market actors.