Mitsui Chemicals and DBJ to acquire JSR

Business · First reported 9 Nov, 02:11 · Updated 02:40

Image: Wikimedia Commons · NASA Johnson Space Center / Jonny Kim · Public domain

A filing puts the proposed purchase of chip-materials maker JSR at 1.84 trillion yen. It also details financing plans and reports a fall in Mitsui Chemicals’ share price.

Mitsui Chemicals and the Development Bank of Japan will acquire JSR from Japan Investment Corp for 1.84 trillion yen; reports put the price at about US$11.6 billion to US$12 billion.
Mitsui plans to raise up to 150 billion yen through a share sale and use a 1.64 trillion-yen bridge loan; DBJ will invest 200 billion yen.
Mitsui Chemicals shares were down about 13 per cent on Monday, after falling more than 10 per cent the previous week.

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Key facts

Purchase price: 1.84 trillion yen; reported as US$11.61 billion by CNA and US$12 billion by Bloomberg.
Buyers: Mitsui Chemicals and the Development Bank of Japan.
Seller: Japan Investment Corp.
Mitsui financing: Up to 150 billion yen in share sales and a 1.64 trillion-yen bridge loan.
DBJ investment: 200 billion yen.
Mitsui share movement: Down around 13 per cent on Monday, following a fall of more than 10 per cent the previous week.