April 25, 2024

Japan’s Chip Spree Aims to Kick Economy Into High Gear

Japanese Prime Minister Fumio Kishida’s ambitious ¥4 trillion ($27 billion) spending spree to revive the nation’s semiconductor industry also aims to help re-orient the economy back to a positive growth cycle sought by the government and central bank.

Already there’s anecdotal evidence emerging from the northern island of Hokkaido and from Kumamoto in the south that the new chip projects are starting to impact the local economies and stem the tide of people flocking to Tokyo for better jobs and schooling.

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