Toyota, Denso Mulling Further Investments in Rapidus

Tokyo, Oct. 18 (Jiji Press)--Toyota Motor Corp. and Denso Corp. are considering making additional investments in Japanese chipmaker Rapidus Corp., which is aiming to produce next-generation semiconductors in the country, it was learned Friday.

Rapidus has been asking existing shareholders and others for fresh investments totaling 100 billion yen, for working capital and capital investments.

The Tokyo-based chipmaker was set up in 2022 by Toyota, Denso and six other firms, which invested a total of 7.3 billion yen. Of the other investors, Sony Group Corp. and NEC Corp. plan to make extra investments.

MUFG Bank, another investor, is mulling fresh investment of up to 25 billion yen together with three other banks which are not current investors, including Sumitomo Mitsui Banking Corp.

Rapidus aims to begin the mass production of chips in 2027 at a plant being built in Chitose in the northernmost Japan prefecture of Hokkaido. Toyota reportedly hopes to use the chips for autonomous driving systems.

[Copyright The Jiji Press, Ltd.]