Eight major Japanese firms have established a new company to produce next-generation semiconductors in Japan by the end of the decade.
Formed by Toyota Motor Corp., NTT Corp., Sony Group Corp., NEC Corp., SoftBank Corp., Denso Corp., KIOXIA Corp. (formerly Toshiba Memory Corp.), and MUFG Bank, the new firm will also be part of efforts to secure Japan's economic security.
The name of the new firm is "Rapidus," which means "rapid" in Latin.
