Mitsui Chemicals announced that it will acquire JSR, a major semiconductor materials company, and make it a subsidiary. Including JIC's investment, the acquisition value is estimated at approximately ¥1.84 trillion, with the effective acquisition value expected to be approximately ¥1.4 trillion. The parties aim to complete the procedures in the second half of fiscal 2027.
Mitsui Chemicals will strengthen its position in the semiconductor photoresist market by acquiring JSR and making it a subsidiary. The effective acquisition value is estimated at approximately ¥1.4 trillion, with funding from JIC also included in the transaction.
JSR is considered the world's second-largest photoresist company by market share, behind Tokyo Ohka Kogyo. After completion of the acquisition, its earnings capacity is expected to improve, supported by Mitsui Chemicals' financial strength. Interest-bearing debt, including borrowings, of approximately ¥447.9 billion is expected to be assumed.
The Development Bank of Japan will participate in the acquisition and contribute ¥200 billion. The shares are scheduled to be converted into non-voting preferred shares after the acquisition, and the impact of this contractual structure will be a focus going forward.
Completion is scheduled for the second half of fiscal 2027, subject to formal approval procedures and reviews under applicable regulations.