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Japan chipmaker Rapidus to receive $3.9bn more in government aid

TOKYO -- Japan's Ministry of Economy, Trade and Industry will provide another 590 billion yen ($3.89 billion) in support for chipmaker Rapidus in fiscal 2024 as it looks to foster domestic manufacturing of advanced semiconductors.

The ministry announced Tuesday morning that the government has approved subsidies for the chip foundry venture, confirming Nikkei's earlier reports.