TOKYO (Reuters) -Japanese microchip maker Rapidus estimates that it needs about 2 trillion yen ($14.71 billion) for technological development, for which it will seek mid to long-term assistance from the government, the company’s chairman told the Kyodo news agency.
The company also requires an additional 3 trillion yen to fund mass production and is considering listing to raise capital for that purpose, Rapidus chairman Tetsuro Higashi said in the interview published on Wednesday.
Industry Minister Yasutoshi Nishimura said last week the government plans to give 260 billion yen in additional subsidy on top of a 70 billion yen funding. Rapidus is planning to build a cutting-edge two-nanometre chip factory in Japan’s northern major island of Hokkaido.
“Going public is a major means of forming the foundation of the company” as a way to raise 3 trillion yen, Higashi said in the interview.
($1 = 135.9500 yen)
(Reporting by Satoshi SugiyamaEditing by David Goodman and Muralikumar Anantharaman)