Japan’s Mitsui Chemicals Inc. has announced a major acquisition, agreeing to buy JSR Corp. for ¥1.84 trillion ($12 billion). The deal, supported by the state-backed Development Bank of Japan (DBJ), aims to strengthen Mitsui Chemicals’ position in the critical chip materials sector.
The acquisition involves Mitsui Chemicals and DBJ purchasing all shares of JSR from the government-backed Japan Investment Corp. DBJ will contribute ¥200 billion in cash for a stake that will be converted into preferred shares without voting rights, as outlined in a filing released Monday.
This move underscores the strategic importance of JSR, a key player in the supply chain for semiconductor materials. The acquisition is expected to bolster Mitsui Chemicals’ dominance in the industry, leveraging JSR’s expertise and resources.