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Japan fund eyes JSR buyout as Tokyo ramps up chip intervention

June 26, 2023
Source: reuters.com reuters.com
News Snapshot:
TOKYO, June 26 (Reuters) - Semiconductor materials maker JSR Corp's (4185.T) board will meet on Monday to discuss a potential multi-billion dollar buyout by a government-backed fund that would mark an acceleration of Japan's efforts to strengthen its chip industry. JSR's market capitalisation was 677 billion yen ($4.73 billion) at Friday's market close. Its shares were untraded with a glut of buy orders on Monday after the maker of photoresists for global chipmakers said on Saturday it was considering a deal to be acquired by Japan Investment Corp (JIC), which is overseen by the powerful trade ministry. An acquisition by...
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