The government-backed Japan Investment Corporation (JIC) has settled on a policy of selling major semiconductor materials company JSR to Mitsui Chemicals, with the sale potentially valued at ¥1.3 trillion or more. A formal decision is expected within the month.
The government-backed Japan Investment Corporation (JIC) will sell JSR, which it acquired about 2 years ago, to Mitsui Chemicals, according to sources. The sale could be valued at ¥1.3 trillion or more, and multiple sources said a decision is expected within the month.
JIC acquired JSR for approximately ¥900 billion. The sale is viewed as an effort to consolidate the semiconductor materials industry around a major domestic chemicals company. Amid higher valuations driven by the AI boom, the transaction would seek to strengthen the competitiveness of Japan's semiconductor industry through a sale to a domestic company rather than an overseas fund.
JSR is a major photoresist manufacturer, while Mitsui Chemicals is expanding its semiconductor-related materials business. If completed, the sale could become an unusually large transaction, significantly exceeding Mitsui Chemicals' market capitalization of approximately ¥800 billion. Mitsui Chemicals' financing plans have not been disclosed at this time.
Comments from JIC, Mitsui Chemicals and JSR were not available at this time. The report was carried by Reuters, and several related pieces of information remain involved.