Politics & Government

Japan Govt Panel OKs 11 Strategically Important Goods

Yomiuri Shimbun file photo
The Prime Minister’s Office in Tokyo

Jiji Press

13:27 JST, November 17, 2022

Tokyo (Jiji Press)—A Japanese government panel on Wednesday approved the designation of eleven categories including semiconductors and natural gas as strategically important goods under a law on promoting economic security.

The cabinet is expected to formalize the designation in late December after a public comment period.

Government agencies will formulate plans to ensure the stable supply of each important item for release by the end of the year.

The eleven categories are chips, natural gas, storage batteries, permanent magnets, important minerals, machine tools and industrial robots, aircraft parts, the cloud, ship-related equipment, fertilizers, and antibacterial products.

The categories meet four requirements, including being essential for citizens’ survival and Japan excessively relying on a particular country for supplies.

The industry ministry said it will secure stable supplies of semiconductors by supporting capital investments to boost domestic production capacity, aiming to achieve over ¥15 trillion in total sales from firms producing chips domestically in 2030.