Japan's Ministry of Economy, Trade and Industry Aims to Double Domestic Semiconductor Sales by 2030

According to a report by Reuters, the Japanese Ministry of Economy, Trade and Industry (METI) announced on Monday that it aims to double the sales of domestically manufactured semiconductors by 2030, reaching 15 trillion yen (approximately $112.55 billion USD). Japan is striving to boost domestic microchip production after being hit hard by challenges in the global supply chain.

As a strategic product to strengthen its economic security, Japan views microchips as a crucial component and has offered substantial subsidies to companies such as Taiwan Semiconductor Manufacturing Co. (TSMC) to build or expand facilities within Japan.

The ministry plans to incorporate this sales goal into Japan's semiconductor and digital industry strategy, which will be updated mid-year. Currently, Japan's share in the global microchip market has declined from 50% in the late 1980s to around 10%.

It is important to take note of this development in Japan's semiconductor industry as it signifies a potential increase in demand for domestically manufactured semiconductors. It may also lead to the establishment of new manufacturing facilities, which could present opportunities for partnership or collaboration.