TOKYO – The Japanese government is planning a multi-year support package for Taiwan Semiconductor Manufacturing Co., which has announced the construction of its first chip factory in the country.

Koichi Hagiuda, Minister of the Economy, Trade and Industry, announced the plan at a press conference Friday, saying that Tokyo will initially secure multi-billion dollar subsidies in the supplementary budget for the fiscal year 2021, following the general election on October 31 should be set up.

“Semiconductors are the brains of every industry,” he said. “From a national security perspective, it is important to build a stable supply of chips.”

As Japan tries to subsidize up to half the cost of TSMC’s new factory, the government faces the challenge of finding the right balance between economic security and fair competition.

The world’s leading contract chip manufacturer announced the construction of its first Japanese plant on Thursday, responding to the longstanding demands of the Ministry of Economy, Trade and Industry, …

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