The ruling Liberal Democratic Party has named Daishiro Yamagiwa as the new chairman of its group that promotes semiconductors, as it sets up a new mechanism to boost funding for the key industry.
Yamagiwa, who formerly served as economic revitalization minister, replaces Akira Amari, a party heavyweight who championed Tokyo’s renewed push for chips until he lost his seat in parliament in last month’s national election.
The appointment comes after Prime Minister Shigeru Ishiba pledged more than ¥10 trillion ($65 billion) of fresh public support for Japan’s semiconductor and artificial intelligence sectors.