Nerval's Lobster writes "Japan has thrown its hat into the ring for exascale computing, reported the country's newspapers. The goal: achieve one exaFLOPS of performance by 2020. Japan's finance ministry has agreed to begin work next fiscal year on a supercomputer with a performance capability 100 times that of the K computer, a 10-petaFLOPS computer that debuted as the most powerful supercomputer in the world in 2011. The midterm report for the new supercomputer was concluded Thursday, the Asahi Shimbun business daily reported. The Japan Times was slightly more conservative, reporting that the Education, Culture, Sports, Science and Technology Ministry will seek funding to design the new machine in its fiscal 2014 budget request — implying that the project has not necessarily been approved. The science ministry is hoping to keep the cost of the new supercomputer below the ¥110 billion mark ($1.08 billion) that was required to develop the K computer, the paper reported. (Slashdot couldn't find any evidence that the project had been approved on the ministry Webpage, although the K computer was mentioned several times in a discussion of public-private partnerships.)"