State fund JIC reportedly moves to sell JSR to Mitsui Chemicals
Japan Investment Corp may sell chip materials maker JSR to Mitsui Chemicals in a deal worth over 1.3 trillion yen, Reuters reports citing sources.
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what happened
Japan Investment Corp (JIC), a state-backed fund, is preparing to sell chipmaking materials maker JSR to Mitsui Chemicals, Reuters reported, citing two people familiar with the matter. The deal could be worth more than 1.3 trillion yen ($8.20 billion), and a decision may come within the month.
Mitsui Chemicals shares fell 7% after the report. JIC bought JSR for about 900 billion yen two years ago and had said it would use the business to drive consolidation in semiconductor materials. Now the fund is selling, taking advantage of higher valuations for chip-related companies amid the AI investment boom.
why it matters
The deal could rank among the largest in Japan's chemicals sector. At the end of June, Mitsui Chemicals held 217.8 billion yen in cash and 876.4 billion yen in interest-bearing debt, with a debt-to-equity ratio of 0.75, so a large purchase could renew questions about its balance sheet.
market impact
Mitsui Chemicals shares: a large, debt-funded deal weighs on the stock
- Mitsui Chemicals shares pressure down — investors weigh the cost of a big acquisition against already high debt
tags
instruments
sources
- Japan fund JIC plans to sell JSR to Mitsui Chemicals, sources say — Reuters, 4 November 2026 at 00:49 UTC
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