Japan’s METI targeting $22.8 billion for chip subsidies- Asahi

TOKYO (Reuters) – Japan’s industry ministry is seeking funds totalling some 3.4 trillion yen ($22.81 billion) for subsidies for the semiconductor industry as part of economic measures to be finalised this month, the Asahi newspaper reported on Thursday.

That compares to 1.3 trillion yen last year as the Ministry of Economy, Trade and Industry (METI) supports chip foundry venture Rapidus and a second plant in Japan from contract chip manufacturer TSMC, Asahi reported citing unidentified government sources.

($1 = 149.0600 yen)

(Reporting by Sam Nussey; Editing by Kim Coghill)