TOKYO: JSR Corp. on Monday announced a decision to accept government-backed Japan Investment Corp.’s plan to buy the Tokyo-based major semiconductor materials maker.

JIC is seen beginning a tender offer for JSR as early as late December.

Through the acquisition, the investment company hopes to concentrate JSR’s resources in its chip-related business, in order to help boost Japan’s international competitiveness in the field of materials production.

With economic security increasingly important amid the standoff between the United States and China, the Japanese government has designated semiconductors, used for making many high-technology products, as a strategic material and is speeding up work to beef up related supply chains.

As semiconductors are becoming more sophisticated on the back of microfabrication technology, ensuring stable supply of high-quality materials is a major issue.

JSR, listed on the Tokyo Stock Exchange’s Prime top-tier section, is one of the leading producers of photoresists, used in semiconductor circuit manufacturing, boasting a global market share of about 30 pct.

JIJI Press