Mitsui Chemicals and Development Bank of Japan have agreed to acquire all shares of JSR for ¥1.84 trillion. ¥200 billion will be paid in cash as part of the consideration, and the acquired stake will be converted into non-voting preferred shares.
Mitsui Chemicals and government-backed Development Bank of Japan have agreed to acquire all shares of JSR. The total transaction value has been reported at approximately ¥1.84 trillion (US$12 billion).
¥200 billion will be paid in cash as consideration for the acquisition, and the stake will be converted into non-voting preferred shares.
The acquisition is reportedly part of a Japanese government-backed consolidation of the semiconductor materials industry and has attracted attention as an effort to strengthen competitiveness in Japan's semiconductor materials market.
Although Japan is home to some of the world's leading silicon wafer suppliers, many domestic small and midsize suppliers face the risk of acquisition by overseas companies.