NHK reported on the 14th that the Japanese government plans to require the issuance of a "golden share," which would grant it veto power over major management decisions, as a condition for investing in the domestic semiconductor company Rapidus.
In April, the Japanese National Diet passed an amendment to the Information Processing Promotion Act, which focuses on supporting semiconductor companies, with Rapidus in mind.
When this law comes into effect next month, the Japanese government plans to invest 100 billion yen in Rapidus this year through an independent administrative agency. The government will decide whether to proceed with the investment after evaluating factors such as the full-scale production of advanced semiconductors in the late 2020s and efforts to secure private funding. Additionally, to prevent Rapidus from being acquired by foreign companies or its technology from being leaked, the government plans to demand the issuance of a golden share.
Rapidus was established in 2022 by eight leading Japanese conglomerates, including Toyota, Kioxia, Sony, and NTT, to promote the domestic production of advanced semiconductors. The company has started operating its prototype production line and plans to begin mass production in 2027.
According to NHK, INPEX, a major energy development company, is among the companies in which the Japanese government holds a golden share.
NHK stated, "If the Japanese government's investment is actually made, government involvement in Rapidus's management will become even stronger," adding that producing results commensurate with the support will be a challenge.
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