As reported by The Japan Times, officials from the Education, Culture, Sports, Science and Technology Ministry said that the government will seek funding for the design of the new machine in its fiscal 2015 budget.
According to the officials, the ministry of Japan hopes to use this next-gen supercomputer for the development of medicines and enhancement of disaster prevention by excellent prediction of earthquakes and tsunamis. The makers also plan to shoot for exaflop capability, or 1 quintrillion computations per second.
The officials further added that they are hoping to keep the cost of the new supercomputer below 110 billion yen limit. The ministry also added that the place of built up is yet to be determined.
The previous supercomputer K was developed jointly by Fujitsu and state-backed Riken research institute back in 2011. K was the very first supercomputer across the world, which had the capability to perform 10 quadrillion computations per second.
In the Top 500 supercomputing list, which is a biannual ranking for world's fastest 500 supercomputers, K stood first in 2011 but slipped to second position in June 2012.