Mitsui Chemicals Agrees ¥1.84 Trillion JSR Deal

Mitsui Chemicals and the state-backed Development Bank of Japan have agreed to acquire semiconductor-materials maker JSR from Japan Investment Corp. in a deal valued at about 1.84 trillion yen, including JSR’s debt. The acquisition, targeted for completion in the second half of fiscal 2027, would give Mitsui full voting control while DBJ’s investment is converted into non-voting preferred shares. JSR is a leading global producer of photoresists used to pattern advanced chip circuits, and the deal advances Japan’s effort to consolidate its semiconductor-materials industry; Mitsui says the combined company would become Japan’s largest supplier in the sector and plans to focus more on semiconductors and healthcare.