![]() Johnson, a rare foreign-born head of a Japanese company, said he aimed to relist the company in five to seven years. ![]() "Capabilities here are superb, but there are a lot of us and all of us are spending money redundantly, so we feel the opportunities for efficiency gains are significant," JSR CEO Eric Johnson told a news conference. ![]() The news raised expectations of sector consolidation, driving shares in peer Tokyo Ohka Kogyo (4186.T) 10% higher, while Sumitomo Chemical (4005.T) and Shin-Etsu Chemical (4063.T) each rose 2%. JSR shares rose by 22%, their daily limit, ahead of the official announcement. Mizuho Bank and the government-backed Development Bank of Japan (DBJ) will provide financing. JIC plans to launch a tender offer in late December offering 4,350 yen per share, a 35% premium to Friday's closing price, to take JSR private. The move by Japan Investment Corp (JIC), overseen by the powerful trade ministry, is the latest in a series of increasingly muscular government steps to try to regain Japan's lead in advanced chip production and maintain its edge as a maker of materials and tools used in their manufacture. TOKYO, June 26 (Reuters) - Japan stepped up efforts to bolster its chip industry on Monday, with a government-backed fund agreeing to buy semiconductor materials maker JSR Corp (4185.T) for about 909.3 billion yen ($6.4 billion).
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