Japan's Rapidus is stepping up efforts to start mass production of next-generation semiconductors in 2027.

The Tokyo-based chipmaker was set up in August 2022 by eight Japanese firms aiming to realize domestic production of state-of-the-art semiconductors.

Reviving the Japanese chip industry, which once led the global market, is crucial for strengthening the country's economic security, with the Japanese government having decided to provide nearly ¥1 trillion in subsidies to Rapidus.