5G Promotion Law Plan Certification

The 5G Promotion Law Plan Certification is a new initiative announced by the Minister of Economy, Trade and Industry in Japan. The program aims to support the joint venture between Kioxia and Western Digital to expand production of advanced NAND memory semiconductors in Yokkaichi City, Mie Prefecture and Kitakami City, Iwate Prefecture. The support is designed to ensure continued production for 10 years. The government hopes that this large-scale investment will have wide-ranging economic ripple effects on Mie Prefecture, Iwate Prefecture, and the surrounding areas, including regional investment and wage increases. The program is also expected to have a significant impact on the recovery from the Kumamoto earthquake and the entire Kyushu economy.