The Japanese government will provide 250 billion yen in new financial support to chip maker Rapidus.

The Japanese government will invest 250 billion yen in chip manufacturer Rapidus. This new funding will be allocated over the next two fiscal years, bringing Japan closer to its goal of providing a total of 3 trillion yen in support to help Rapidus scale up production of advanced 2-nanometer logic chips, potentially challenging industry leader TSMC. Officials from the Japanese Ministry of Economy, Trade and Industry stated on Friday that under the new arrangement, the government will initially hold around 10% of Rapidus' voting shares and a majority of non-voting shares. However, if the company faces financial difficulties, the government reserves the right to convert its non-voting shares into voting shares to obtain a controlling stake. Nambu also stated that the government will acquire a "golden share," giving it the ultimate veto power over major changes to the company.