Japan Leverages the Semiconductor Industry to Drive Innovation

Rapid advancements in technological innovation are propelling the world forward at a fast pace. Technologies like AI and automation are at the center of this development, and this market is expanding at double digit rates in the developed world. In North America, this growth is estimated to be 14.8% annually, 8.7% in Europe while in Japan it is at 9.3%. Japan is working to take full advantage of the opportunities presented by this industry.

The country has a rich history of industrial leadership from its domination of the auto industry in decades past to its pivot to electronics in the decades when consumer electronics exploded in demand.

As competition in the semiconductor industry powering the latest wave of innovation intensifies, Japan is taking calculated steps to gain a competitive advantage that it can offer to the global market. R&D investment is one key avenue that the country is exploiting. In 2021, data shows that American firms invested approximately 19% of their sales in R&D, while other competitors like Taiwan, China and South Korea also invested considerable sums in R&D. Japan isn’t sitting out the wave; rather it is also pumping cash into R&D through different public and private-sector led efforts.

Collaboration is another avenue that is being tapped to catapult Japan into the elites in this industry and keep it there. The academia, industry leaders, device manufacturers and government initiatives are helping to drive resources towards the attainment of the semiconductor industry objectives of the country. For example, the CURIE project undertaken in collaboration with Tokyo University is making it possible for co-creation to happen as companies work with academic institutions to attain common objectives that are mutually beneficial.

The market is highly competitive, and stakeholders are rising up to the occasion by nurturing partnerships, designing responsible strategies for growth and undertaking forward-looking research and development activities. With the country’s rich tradition of planning for decades and working one day at a time to attain those long-term objectives, the reality that rising to the top calls for deliberate effort and patient execution isn’t lost on them.

At the moment, Japan may not be the first country one thinks about when talking about the semiconductor industry, but it would be risky to bet against this country given its demonstrated ability to reinvent itself and its industries as the post-war period revealed after the country was devastated by atomic bombs. The real question may therefore be; how soon can they commercialize products that go neck-to-neck with industry-leading products from companies like Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM)? Only time will tell.

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