Mitsui chemicals is also looking to expand its chip materials business. The company currently has a market capitalisation of 800 billion yen ($5.05 billion).
Japan’s state backed fund Japan Investment Corp (JIC) will sell its semiconductor material maker JSR to Mitsui chemicals for. JIC acquired JSR almost two years ago for 900 billion yen (approximately $5.9 billion) to consolidate Japan’s semiconductor material sector.
The deal, which could exceed 1.3 trillion yen ($8.2 billion) , is expected to be announced this month. JSR, established originally as Japan Synthetic Rubber Co. Ltd. in 1957, has emerged as a leading producer of photoresists. The material is used to transfer circuit patterns onto semiconductor wafers.
Through the deal, JIC is looking to take advantage of increased valuations of chip-making firms and boost investments in Japan’s artificial intelligence (AI) sector. Mitsui chemicals is also looking to expand its chip materials business. The company currently has a market capitalisation of 800 billion yen ($5.05 billion).
