Japan Investment Corporation (JIC), a public-private fund, has entered final talks to sell semiconductor materials maker JSR to Mitsui Chemicals, with the transaction reportedly exceeding ¥1.3 trillion and potentially reaching more than $8.2 billion.
It has emerged that JIC, a public-private fund under the supervision of the Ministry of Economy, Trade and Industry, is advancing plans to sell semiconductor materials maker JSR to Mitsui Chemicals. A final decision is expected to be made within the month, and the sale price is reportedly likely to exceed ¥1.3 trillion.
Mitsui Chemicals aims to strengthen its semiconductor materials business and significantly expand its business scale through the acquisition of JSR. The acquisition price is expected to exceed Mitsui Chemicals' market capitalization, with attention focused on the fact that the acquisition price would be substantially higher than its cash holdings of ¥217.8 billion.
Fujifilm Holdings and Mitsubishi Chemical Group are also reportedly interested as potential alternative buyers, and the political background to the restructuring of Japan's semiconductor materials market is also believed to be influencing the transaction.
JIC has indicated a policy of selling JSR to a domestic company rather than an overseas fund, and is reportedly acting as part of a revaluation of semiconductor-related companies against the backdrop of the AI investment boom. If completed, the transaction would be one of the largest-ever restructurings in Japan's chemical industry and could affect JSR's strategy after it becomes private.