Japan looking to beef up chip, storage battery sectors as part of stimulus plan

FILE PHOTO: Japan's new Economy, Trade and Industry Minister Koichi Hagiuda wearing a protective mask amid the coronavirus disease (COVID-19) outbreak, speaks at a news conference in Tokyo, Japan, October 5, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japan's economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday.

Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth several tens of trillion yen to ease the pain of the COVID-19 pandemic and revive the economy.