https://gyokuro.dev/en/tags/semiconductors/ Recent content in Semiconductors on Gyokuro Time https://gyokuro.dev/images/gyokuro-avatar.png https://gyokuro.dev/images/gyokuro-avatar.png Hugo -- 0.147.4 en Fri, 10 Apr 2026 00:00:00 +0000 https://gyokuro.dev/en/posts/budget-beneficiary/ Fri, 10 Apr 2026 00:00:00 +0000 https://gyokuro.dev/en/posts/budget-beneficiary/ Japan’s record ¥122.3 trillion budget passed on 7 April. Domestic media are busy picking ‘Takaichi stocks’ in defence and semiconductors. But the financial statements of the supposed beneficiaries tell a different story – and the budget’s largest single outflow goes not to growth investment but to debt service, enriching the banks and life insurers who underwrite it.