Japanese Investment Firm in talks to Acquire Photoresist Giant JSR
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Update time : 2023-06-28 09:55:01
According to the Nikkei Shimbun, the Japanese government-backed Japan Investment Corporation (JIC) is discussing the acquisition of JSR, a photoresist production company for semiconductor production, for 1 trillion yen. The Nippon Investment Corporation plans to make initial acquisitions as early as this year. If all goes well, JSR could be delisted by the Tokyo Stock Exchange in 2024.
The Japanese government-private joint venture industrial innovation investment agency plans to acquire semiconductor materials giant JSR. The company is expected to invest JPY 1 trillion (approximately RMB 50 billion) to improve its international competitiveness by delisting and focusing on semiconductor business and business restructuring.
According to relevant sources, the industrial innovation investment institution plans to make a public acquisition (TOB) of JSR's equity within this year, and if the procedures go well, JSR is expected to cancel its listing next year.
JSR is listed on the main board of the Tokyo Stock Exchange and has the world's highest share in photoresist materials, which are indispensable for semiconductor manufacturing.
Through the delisting of JSR, the organization aims to improve its international competitiveness by facilitating concentrated investment in the semiconductor business and business restructuring.
In the TOB, the Industrial Innovation Investment Agency plans to invest about 500 billion yen, and Mizuho Bank plans to provide loans of about 400 billion yen, bringing the total investment amount to 1 trillion yen.
In line with the new strategy announced by the Ministry of Economy, Trade and Industry in June to strengthen the domestic semiconductor industry, the company will accelerate the development of advanced semiconductor technologies and increase sales of related businesses in Japan to about three times the current level to 15 trillion yen, and make every effort to strengthen the semiconductor supply chain.
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