TOKYO - Japan's Ministry of Economy, Trade and Industry announced Monday that it will provide up to 802.5 billion yen ($5.4 billion) in additional support to Rapidus, a company aiming to mass-produce cutting-edge semiconductors.

With the latest funding, the total government support for Rapidus could reach approximately 1.72 trillion yen.

Rapidus, founded in 2022, is spearheading Japan's efforts to regain a competitive edge in the global semiconductor industry. The company plans to launch trial production in April at its factory in Chitose, Hokkaido, with the goal of achieving full-scale mass production by 2027.

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The ministry has already provided funding for the construction of the facility and will now extend financial support for equipment procurement, raw materials, production management system development, and manufacturing technology advancements.