Fumio Kishida, the prime minister of Japan, intends to meet with senior executives from international chip companies as early as Thursday to deepen multilateral collaboration.

The gathering would take place at a time when the US is pressing allies to cooperate in order to challenge China’s advancement of advanced technology and chip manufacturing.

In addition, executives from International Business Machines Corp, Micron Technology Inc, Intel Corp, Applied Materials Inc, SEC, and IMEC will participate,

Japan is making efforts to revive its chip industry. Whose worldwide market share has decreased to approximately 10 percent from about 50 percent in the late 1980s.

Additionally, according to a story published on Wednesday in the Yomiuri Shimbun daily, Intel is considering setting up a research & growth unit in Japan.