[Japan’s Ministry of Economy, Trade and Industry plans to apply for an unprecedented budget of US$49 billion to accelerate investment in semiconductors, AI and other strategic industries] On August 31, Japan’s Ministry of Economy, Trade and Industry plans to apply for an unprecedented budget of 7.8 trillion yen (nearly US$49 billion) to accelerate investment in semiconductors, artificial intelligence and other strategic industries. The budget request is for the fiscal year starting in April 2027, of which 6.31 trillion yen is allocated to investments under "Strong and Prosperous Japan." The application from the Ministry of Economy, Trade and Industry will be submitted to the Ministry of Finance, which prepares the annual budget and determines the funding sources for various expenditure initiatives.