A supercomputer developed by the Riken research institute has slipped to third place globally in computing speed, according to a biannual ranking announced Monday by the U.S.-European TOP500 project.

The supercomputer, nicknamed K and jointly developed with Fujitsu Ltd. at the Riken Advanced Institute for Computational Science in Kobe, fell to second place in June after topping the previous two rankings. It now ranks behind the Titan and Sequoia supercomputers operated by the U.S. Department of Energy, the project said.