Japan targets fivefold rise in domestically made chip sales by 2040

FILE PHOTO: Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo

TOKYO, ⁠March 10 (Reuters) - Japan on Tuesday set a ⁠new target to boost sales of domestically produced ‌semiconductors fivefold by 2040 under Prime Minister Sanae Takaichi's growth investment strategy as it seeks to catch up with global ​rivals and tap the AI ⁠boom.

The government set the ⁠2040 goal at 40 trillion yen ($253.6 billion) in ⁠annual sales ‌of Japan-made chips, up from roughly 8 trillion yen now, extending an existing ⁠target of 15 trillion yen for 2030.