Japan Investment Corp: The JSR deal is the latest of a series of increasingly muscular government steps to try to regain Japan s lead in advanced semiconductor production and maintain its edge as a maker of materials and tools used in their manufacture.
TOKYO, June 27 (Reuters) - State-backed Japan Investment
Corp (JIC) sees potential for more mergers and acquisitions in
high-end corners of the chipmaking industry following its
planned $6.4 billion buyout of materials maker .
State-backed Japan Investment Corp (JIC) sees potential for more mergers and acquisitions in high-end corners of the chipmaking industry following its planned $6.4 billion buyout of materials maker JSR, the head of its private equity arm said. The comments from JIC Capital CEO Shogo Ikeuchi signal a potential shakeup of an industry critical to everything from smartphones to artificial intelligence that is a lynchpin of economic security in the world's third-largest economy. "We see potential in some speciality materials markets where JSR can win dominant positions by combining with other materials makers," Ikeuchi said in an interview.
The move by Japan Investment Corp (JIC), overseen by the powerful trade ministry, is the latest in a series of increasingly muscular government steps to try to regain Japan's lead in advanced chip production and maintain its edge as a maker of materials and tools used in their manufacture. JIC plans to launch a tender offer in late December offering 4,350 yen per share, a 35% premium to Friday's closing price, to take JSR private.