Still, regaining the chip market will be an uphill battle for Japan and will require Rapidus to find a "shortcut" in chip design and production to reach the level of advancement of leading semiconductor companies, said Brady Wang, semiconductor analyst at Counterpoint Research.

Rapidus representatives have said that the architecture of the 2-nanometer chip is different from that of 3-nanometer ones, making mass production of the former a "blank-slate challenge for all players," and presenting a prime opportunity to break into the market.