Exclusive-Japan fund JIC plans to sell JSR to Mitsui Chemicals, sources say

Japan Investment Corp plans to sell semiconductor materials maker JSR to Mitsui Chemicals in a deal potentially worth more than 1.3 trillion yen. The proposed sale could consolidate Japan’s chip materials industry as the country seeks to strengthen its position in a supply chain whose importance is growing with AI investment.

A decision could come within the month, though Mitsui Chemicals says it is considering options and has made no decision. JIC bought JSR for about 900 billion yen two years ago; JSR is a leading photoresist maker, while Mitsui Chemicals has a market value of about 800 billion yen. Mitsui shares fell 13 per cent after the report, amid concerns about financing a deal of this scale.