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The government said it will make an aggressive push to help domestic semiconductor companies expand globally, with a goal of increasing their annual revenue to more than ¥13 trillion ($114 billion) by 2030.

The ambitious goal, roughly three times 2020’s total of ¥4.5 billion, was presented to a group of industry experts summoned by the Ministry of Economy, Trade and Industry (METI) at a meeting to map out the national strategy in semiconductors and digital transformation. METI plans to use input from such regular meetings to determine budgets and legislative proposals in next spring’s Diet session.

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