TOKYO - Japan's state-backed chip venture Rapidus plans to build its first factory in Chitose city on Japan's northernmost major island of Hokkaido and is likely to make an announcement as early as next week, TV Tokyo reported on Tuesday.

Chitose, a city of approximately 100,000 people in southwestern Hokkaido, already hosts manufacturing facilities of silicon wafer maker SUMCO Corp, among others.

A Rapidus spokesperson said nothing has been decided yet on the location.

Rapidus told Reuters earlier this month that it would need about 7 trillion yen ($52 billion) of mostly taxpayer money to begin mass-producing advanced logic chips in around 2027.

  - Reuters