New Japanese semiconductor producer Rapidus and a Belgian nanotechnology developer joined hands Tuesday in creating advanced computer chips amid heated global competition.

Collaboration between the manufacturer, set up by eight major Japanese companies, and Interuniversity Microelectronics Center, also known as Imec, is aimed at building sustainable and long-term international cooperation on designing and making next-generation chips, according to the government.

Rapidus and Imec signed a memorandum of cooperation at the Ministry of Economy, Trade and Industry in Tokyo late Tuesday afternoon.