Japanese electronics firm Fujitsu and the Riken research institute have jointly developed Japan's second quantum computer.

Quantum computing applies physical phenomena specific to quanta including photons and electrons to calculate much faster than supercomputers. The technology, if successfully applied, is said to hold great promise for society.

Riken has been using the country's first quantum computer since March. The second, announced on Thursday, has equivalent calculation capabilities. Fujitsu and Riken hope a system combining quantum technology with conventional computers will be used in various fields, such as finance and drug development.

Fujitsu and Riken will continue to work together to improve the performance of the quantum bit chip, a central element in quantum computing. They aim to speed up its development for practical applications of related hardware and software.

Sato Shintaro, head of Fujitsu's quantum laboratory, said developing the quantum computer in two and a half years since the transfer of technology from Riken is a major achievement. He said it is just the first step and that they will work with users toward practical applications of the technology.