TOKYO, 21 November 2025 — Rapidus Corporation, Japan’s government-backed semiconductor venture, is planning to go public around fiscal year 2031, as it advances its campaign to build a next-generation chipmaker capable of producing 2-nanometre (2nm) wafers.
Founded in 2022 with support from industry heavyweights such as Sony Group Corporation, Toyota Motor Corporation and SoftBank Group Corp., and backed by Japanese government funding, Rapidus is setting up a major fabrication plant in Hokkaido aimed at entering production by 2027. The planned IPO in the early 2030s is an effort to monetise the company’s advanced-chip roadmap and raise capital for scale-up beyond Japan.
Why This Matters
- Rapidus’ IPO ambition underscores Japan’s determination to re-establish a competitive footing in high-end semiconductor manufacturing, a field long dominated by Taiwan Semiconductor Manufacturing Company (TSMC) and Korean rivals.
- A successful IPO would not only generate fresh investment for Rapidus but also signal to global capital markets that Japan is serious about scaling semiconductor capability and reducing reliance on foreign supply chains.
- For the Asia-Pacific region, Rapidus adds another node in the semiconductor ecosystem, potentially affecting supply-chain flows, partnerships and regional investment dynamics in places like Malaysia, Singapore and Vietnam.
What to Watch
- Production-ramp progress: Whether Rapidus can hit its internal milestone of beginning 2nm wafer output around 2027, delays may push the IPO timeline further.
- Capital-markets readiness: The structure, timing and valuation of the IPO will depend on how Rapidus performs operationally in the next few years and how investor appetite holds.
- Global expansion strategy: Post-IPO, how Rapidus plans to scale manufacturing, secure customers and leverage Japan’s ecosystem advantage will be pivotal.
- Regional implications: How the emergence of a Japanese advanced-chip manufacturer affects regional investment-flows, talent mobility and supply-chain partnerships in Southeast Asia.
