Japan Bets $67 Billion to Become a Global Chip Powerhouse Once Again

Deep in the snowy northern island of Hokkaido, Japan is pouring billions of dollars into a long-shot bet to revive its chip-making prowess and insulate its economy from growing US-China tensions.

Excavators and trucks criss-cross the frosty ground as construction work continues on a futuristic factory looking over a grassy plain with roaming horses. It’s a development that is changing the landscape of an area known for farming, military bases and Chitose airport. It’s a project that also aims to change the face of Japan’s chip industry.

A freshly created homegrown venture, Rapidus Corp., is looking to mass produce state-of-the ...