The article is dedicated to the new stage of the policy of the Japanese authorities and companies, aimed at the accelerated development of the sector for production of advanced semiconductors (chips) and making the country one of the world leaders in this field. The author considers the current state, structure and features of the production of chips in Japan and the main directions for the development of this sector in the coming years. The influence of the geopolitical situation in East Asia and the decision of the country's authorities to pursue the accelerated development with the help of the new Rapidus holding, designed to become one of the key elements in moving towards the intended goal, are analyzed. The article also considers features and prospects of Japan's cooperation with the United States, China and its closestneighbors. In conclusion, the author states that Japan's progress towards the intended goal within the declared time frame will take place in the face of increased competition from the main chip manufacturers. However, the main concern against the backdrop of growing economic difficulties will be the lack of funds for the implementation of large projects, which may lead to a slowdown in implementation and adjustment of the outlined plans.