Japan commits over $64 billion to boost semiconductor and AI industries

Japan's Prime Minister Shigeru Ishiba announced a plan to invest over $64.9 billion in the semiconductor and artificial intelligence sectors. This initiative aims to enhance Japan's technological competitiveness in response to global pressures, particularly from the U.S. and China. The funding package, totaling more than 10 trillion yen, seeks to attract over 50 trillion yen in public and private investments by 2030. This new framework will introduce support mechanisms for private investors, differing from previous investments made under former Prime Minister Fumio Kishida. Taiwan Semiconductor Manufacturing Company is expanding its presence in Japan, with plans for multiple facilities in Kumamoto. The U.S. has recently imposed restrictions on Taiwan Semiconductor, affecting its sales to China, which may impact its global strategy.