Japan is aiming to invite Taiwan Semiconductor Manufacturing Co Ltd or other global chipmakers to build an advanced chip manufacturing plant jointly with domestic chip equipment suppliers, the Yomiuri daily reported on Sunday.

The Japanese government hopes to tap the expertise of global chipmakers to rejuvenate the lagging domestic chip industry as advanced chip technologies have become a focal point in national security issues, Yomiuri said.

The government is planning to offer a total of several hundred billion yen, or equivalent to several billion dollars, over multiple years to overseas chipmakers who join the project, the daily said, without citing sources.

The report gave no timeline for the project.

TSMC did not immediately respond to an email inquiry on Sunday. The Japanese industry ministry did not answer calls.