Japan govt to give $1.9 billion in additional grant to Rapidus

TOKYO (Reuters) – Japanese Industry Minister Yasutoshi Nishimura said on Tuesday the government plans to give 260 billion yen ($1.94 billion) in an additional subsidy to microchip maker Rapidus.

Rapidus, which plans to build a cutting-edge two-nanometre chip factory in Japan’s northern major island of Hokkaido, previously secured an initial 70 billion yen of funding from the government.

($1 = 134.2900 yen)

(Reporting by Miho Uranaka, Kiyoshi Takenaka; Editing by Christian Schmollinger)