Tokyo, Nov. 9 (Jiji Press)–Mitsui Chemicals Inc. said Monday that it will acquire major semiconductor material maker JSR Corp. The Japanese chemical giant will purchase JSR shares from government-backed Japan Investment Corp., the parent of the target company. The Development Bank of Japan, a government lender, will join the deal, acquiring JSR shares worth 200 billion yen. The total share acquisition cost will reach some 1.39 trillion yen. In addition, Mitsui Chemicals will take over JSR’s interest-bearing debt for about 440 billion yen. Tokyo-based JSR is not a publicly traded company. Overall, the purchase cost will amount to some 1.84 trillion yen, making it the largest acquisition deal in the Japanese chemical sector. The JSR shares to be bought by JIC will be converted into preferred shares carrying no voting rights after the completion of the deal, which is slated for the second half of fiscal 2027. JSR has one of the largest market shares in the world for photoresist, a resin material essential for the formation of fine semiconductor circuits. Mitsui Chemicals intends to strengthen its semiconductor-related business, a key growth area for the company, targeting 40 billion yen in profit increase by fiscal 2035 through sales growth and cost optimization from the JSR acquisition. END [Copyright The Jiji Press, Ltd.]
