Tokyo, Nov. 9 (Jiji Press)--Mitsui Chemicals Inc. said Monday that it will acquire major semiconductor materials maker JSR Corp. jointly with the Development Bank of Japan, for about 1.84 trillion yen.

The Japanese chemical giant will purchase JSR shares from government-backed Japan Investment Corp. for about 1.39 trillion yen, with the DBJ covering 200 billion yen of the amount. In addition, Mitsui Chemicals will take over JSR's interest-bearing debt of about 440 billion yen.

The move, which would be the largest acquisition deal in Japan's chemical industry, is aimed at strengthening Mitsui Chemicals' semiconductor materials business and making it a pillar of growth amid rising demand driven by advances in artificial intelligence. The companies aim to complete the transaction in the second half of fiscal 2027.

Tokyo-based JSR is one of the world's leading producers of photoresists, a resin material essential for forming fine semiconductor circuits.

Mitsui Chemicals President Satoshi Ichimura told a press conference in Tokyo that the company aims to "establish a strong presence in the semiconductor materials industry."

(From left) JSR President Tetsuro Hori, Mitsui Chemicals President Satoshi Ichimura and JIC Capital President Shogo Ikeuchi pose for a photo after a press conference in Tokyo on Monday.
Mitsui Chemicals President Satoshi Ichimura holds a press conference on the company's planned acquisition of major semiconductor materials maker JSR in Tokyo on Monday.

[Copyright The Jiji Press, Ltd.]