Japan aims to sell eight times more chips in 2040 as in 2020

Japan has set a new sales target for domestically produced microchips, with the country aiming for an eightfold increase by 2040 compared with 2020 levels.

In its 1980s heyday, the Asian country boasted around half the share of the global semiconductor market, the government says.

It has since been overtaken by Taiwan and other countries, with development of the Japanese chip industry hampered by slow digitisation among businesses and trade frictions with the United States.