Japan unveils new strategy to boost chip industry

The Japanese government has adopted a new strategy to boost the country's semiconductor industry. The plan is designed to bolster the foundations of the chip and other digital sectors as a national project.

The industry ministry says the strategy is needed to secure the country's economic security, given the intensifying confrontation between the United States and China.

Industry minister Kajiyama Hiroshi said, "We're making a drastic policy shift in light of geopolitical changes. Cutting-edge semiconductors are key to green, digital, and auto industries."

Measures outlined in the new policy include setting up joint factories with major foreign semiconductor makers. The aim is to secure manufacturing bases in Japan and to develop domestic next-generation production technologies.

Japanese chip producers currently hold only around a 10-percent share of the global market, down from more than 50 percent about 30 years ago.

Japan relies on overseas manufacturers for the state-of-the-art semiconductors used in smartphones and other devices.