76th MUMEI-JUKU(24/2/2026)

I believe that President Koike, or rather Rapidus, is at the forefront of Japan’s semiconductor industry.
Although the US is tightening its technological restrictions on China, the progress of China’s semiconductor industry has not ceased. This situation has been highlighted in reports by the Nikkei and in US investigations into China.

The reasons cited to date have centred on the Chinese government’s massive injection of state funds and its acquisition of cutting-edge technology and talent through both legal and illegal means. However, recent US reports have highlighted, above all else, the very existence of a ‘system that integrates industry and policy’. I believe this is the crucial point. While investing funds to provide support is important, the real issue at stake is not merely the amount of investment. The key lies in whether the government, universities and businesses can collaborate and build a structure capable of generating sustainable results. How should we redesign Japan’s development model? That is the crux of the matter.

It has also been reported that the government has made clear its policy of simultaneously pursuing expansionary fiscal policy and security policy. There are also reports that the Prime Minister will visit the US in March to discuss a new Japan-US relationship with President Trump. I believe that cooperation on cutting-edge technologies, centred on semiconductors and AI, will be included in these discussions. Japan has now reached a new stage where the government, businesses and universities must unite to envision the future. How should we reconstruct Japan’s development model? I hope that President Koike’s remarks today will serve as an opportunity for each and every one of us to reflect anew on this question.

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