Japan to give up to $1.8 billion in subsidies for storage battery, chip projects

Japan will provide as much as $1.8 billion in subsidies for a slate of storage battery and chip-related projects, Industry Minister Yasutoshi Nishimura said on Friday, marking Tokyo’s latest push towards greater supply chain security.

The government plans to give up to 184.6 billion yen ($1.38 billion) in subsidies for eight storage battery-related proposals and up to 56.4 billion yen for two semiconductor-related projects, Nishimura told reporters.