Japan state-backed fund to buy JSR to enhance chip supply chain

State-backed fund Japan Investment Corp. will acquire semiconductor material maker JSR Corp. for about 900 billion yen ($6.3 billion), JSR said Monday, as part of efforts to strengthen the country's chip supply chain. The acquisition is aimed at accelerating growth at one of the leading producers of photoresists, a material crucial for chip production, as semiconductors have increasingly taken on strategic importance to ensure economic security and prosperity in the age of digitalization. JIC intends to launch a tender offer in December for JSR, offering 4,350 yen per share, and take the chip ...