有制造业，才有Rapidus

Core Viewpoint - Rapidus, Japan's cutting-edge semiconductor foundry, has entered the trial operation phase before mass production, but concerns remain about its ability to secure strong customers and achieve profitability [1][2]. Group 1: Company Overview - Rapidus has successfully initiated the operation of the advanced EUV lithography machine, which is crucial for its production goals [2]. - The company aims to start formal production by 2027, but the ability to achieve a yield rate of over 70% is uncertain [2]. - There is a lack of enthusiasm from private enterprises regarding investment in Rapidus, indicating a reliance on continued government support [2][3]. Group 2: Market Context - The success of Rapidus hinges on its ability to attract customers, particularly in Japan, as it competes with TSMC, which has a strong client base including major companies like Apple and Nvidia [3]. - Rapidus has signed memorandums with several powerful companies, including NTT Group, to produce chips for next-generation communication infrastructure [3]. - The semiconductor industry operates on a virtuous cycle, where the number and quality of customers directly impact product excellence and innovation [3][4]. Group 3: Industry Dynamics - The semiconductor industry is characterized by rapid advancements, as indicated by Moore's Law, which predicts that the number of transistors on a chip will double approximately every two years [4]. - Japan's semiconductor industry has faced challenges, including a trade deficit in digital products since the 2010s, leading to a decline in its once-dominant position [5]. - The establishment of Rapidus is seen as an attempt to restore the connection between semiconductor manufacturing and the broader digital product market in Japan [5].