Today Japan has come out with its semiconductor strategy which sees the country tripling its chip sales to $108 billion by 2030.

“Various investments are being made by Japanese chip-related companies including smaller ones, and we’d like to back up these investments,” said economy minister Yasutoshi Nishimura this morning, “we want to secure the necessary budget to support these efforts.”

Rapidus, the $37 billion startup set on achieving 2nm processing by 2030 is one of the investments, the TSMC-Sony jv fab is another and a third is support for a Kioxia fab in Mie.

The government expects the TSMC and Kioxia projects to boost Japan’s gross domestic product by $30 billion, create about 463,000 jobs and generate roughly $5.4 billion in tax revenue.