Japanese semiconductor equipment maker JSR has accepted a buyout offer of $6.4 billion (909.3 billion yen) from the Japanese government, in the country’s latest move to bolster its domestic chip industry.
JSR is the world's leading maker of photoresists , the chemicals used for the process of printing circuit designs on chip wafers. It is also one of three Japanese companies that controls the world’s supply of fluorinated polyimide and hydrogen fluoride, compounds which are used to make the semiconductors found in supercomputers, AI-harnessing data centers and iPhones.
Under the plan, Japan Investment Corp (JIC) – state-backed investment enterprise of Japan, specializing in private equity and venture capital investments primarily in Japan – would offer JSR $31.25 (4,350 yen) per share, a price that represents a 35% premium on the company’s share price when the markets closed on Friday. The resulting deal will see the company go private and provide Japan with a greater control over a technological process of which it is already a global leader.