TOKYO—Japan’s economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday. Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth “several tens of trillion yen” to ease the pain of the COVID-19 pandemic and revive the economy. The plan followed an announcement by Taiwan Semiconductor Manufacturing Co. (TSMC) last week on planned construction of a $7 billion chip plant in Japan with Sony Group, a move that was welcomed by the Japanese government. Japan’s chip-making sector, once the world’s No.1 industry in the 1980s, has struggled to maintain its competitive edge, going into a steady decline in the past three decades, as regional rivals such as Taiwanese manufacturers make headway. “A major cause of the lost three decades was the …