TOKYO, June 4 (Reuters) - Japan plans to look into

legislation to support the commercial production of advanced

semiconductors, a draft of this year's long-term economic policy

plan seen by Reuters shows.

The long-term roadmap, which is crafted each year as a key

document highlighting the administration's policy priorities, is

expected to be finalised around June 21.

"In order to strengthen the chip supply chain, we will

promote domestic production sites, human resources, research and

development in cooperation with countries and regions with the

same objectives," the draft said.

"In particular, we will consider necessary legislative

measures for the mass production of next-generation

semiconductors," it added.

It did not mention any specific chipmaker.

Last week, the industry ministry said Japan would need a new

regulatory framework to help chip foundry venture Rapidus start

mass production of cutting-edge chips from 2027.

As Tokyo pushes forward with plans to rebuild the country's

chip manufacturing base, it has agreed to provide up to 920

billion yen ($5.94 billion) in subsidies to Rapidus.

But the subsidies are for research and development, and

Japan would need a new framework such as government guarantees

to help attract funds from investors and financial institutions

to finance mass production, a government source has said.

Rapidus is headed by industry veterans and is targeting mass

production on the northern island of Hokkaido in partnership

with IBM ( IBM ) and Belgium-based research organization Imec.

($1 = 154.8400 yen)