Japanese Government Plans Massive Buyout of Chip Materials Giant JSR

JSR Corp is considering a deal to be acquired by state-backed Japan Investment Corp (JIC) for $6.3 billion.
JIC would spend about 1 trillion yen on the acquisition, injecting 500 billion yen into a new company to make the purchase and borrowing 400 billion yen from Mizuho Bank.
An acquisition by JIC would be the latest in a series of increasingly muscular moves by Japan to juice up its chip industry.
JSR is a top supplier of photoresists to global chipmakers and competes with companies including Tokyo Ohka Kogyo and Shin-Etsu Chemical.
Shares in JSR have gained 25% year-to-date and activist investor ValueAct Capital is a major shareholder and has an executive on the board.