Japan Looking to Beef Up Chip, Storage Battery Sectors as Part of Stimulus Plan

Japan Looking to Beef Up Chip, Storage Battery Sectors as Part of Stimulus Plan
Japan's Economy, Trade and Industry Minister Koichi Hagiuda (C) arrives at the prime minister's office in Tokyo on Oct. 4, 2021. Philip Fong/AFP via Getty Images
Reuters
Updated:

TOKYO—Japan’s economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday.

Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth “several tens of trillion yen” to ease the pain of the COVID-19 pandemic and revive the economy.