Tokyo, Nov. 9 (Jiji Press)–Mitsui Chemicals Inc. said Monday that it will acquire major semiconductor materials maker JSR Corp. jointly with the Development Bank of Japan, for about 1.84 trillion yen. The Japanese chemical giant will purchase JSR shares from government-backed Japan Investment Corp. for about 1.39 trillion yen, with the DBJ covering 200 billion yen of the amount. In addition, Mitsui Chemicals will take over JSR’s interest-bearing debt of about 440 billion yen. The move, which would be the largest acquisition deal in Japan’s chemical industry, is aimed at strengthening Mitsui Chemicals’ semiconductor materials business and making it a pillar of growth amid rising demand driven by advances in artificial intelligence. The companies aim to complete the transaction in the second half of fiscal 2027. Tokyo-based JSR is one of the world’s leading producers of photoresists, a resin material essential for forming fine semiconductor circuits. Mitsui Chemicals President Satoshi Ichimura told a press conference in Tokyo that the company aims to “establish a strong presence in the semiconductor materials industry.” “We want to consolidate the industry to compete internationally, as China is rapidly seeking to catch up,” Ichimura added, expressing interest in further industry restructuring and partnerships with other companies in the sector. Mitsui Chemicals expects the acquisition to add 40 billion yen to its annual profit by fiscal 2035. JIC acquired JSR for about 900 billion yen in 2024 and subsequently took it private as part of efforts to consolidate the semiconductor materials industry. This deal is “the first step toward industry consolidation,” Shogo Ikeuchi, president of JIC Capital Ltd., an investment arm of JIC, said at the press conference. “We expect the collaboration centered on the two companies to further strengthen (the industry’s) business foundation.” END [Copyright The Jiji Press, Ltd.]
