Japan-based Mitsui Chemicals will acquire JSR, a Japan-based supplier of semiconductor materials, for 1.8 trillion yen (US$12 billion) with backing from the state-backed Development Bank of Japan, the companies said in a filing.

Mitsui Chemicals and Development Bank of Japan will buy all JSR shares from government-backed Japan Investment Corp. Development Bank of Japan will also contribute 200 billion yen (US$1.26 billion) in cash into a stake that will later convert into non-voting preferred shares.

JSR makes photoresists for advanced chips and supplies materials for ASML’s extreme ultraviolet lithography tools. Its specialty chemicals customers include Taiwan Semiconductor Manufacturing Co., Intel, and Samsung Electronics.

The acquisition follows Japan Investment Corp.’s take-private deal for JSR in 2024. In September, JSR was weighing offers from Mitsui Chemicals and Mitsubishi Chemical Group.

🔗 Source: Bloomberg