Mitsui Chemicals is considering buying JSR from Japan Investment Corporation for more than ¥1.3tn (about US$8.2bn), Nikkei and Reuters reported on 4 November 2026. Mitsui Chemicals confirmed the same day that it is studying the deal among other options, but said nothing has been decided.
Why Mitsui Chemicals, Inc. is buying JSR Corporation (from Japan Investment Corporation)
JSR is a leading maker of photoresists, the materials used to transfer circuit patterns onto semiconductor wafers. Nikkei described the deal as significant for the chip materials industry.
Deal terms and financing
Nikkei, citing sources, put the price at more than ¥1.3tn. No structure or timetable has been disclosed. In its filing to the Tokyo Stock Exchange, Mitsui Chemicals said the reports were not announced by the company and that no decision has been made.
Market context
Japan Investment Corporation took JSR private about two years ago in a deal worth about US$6bn. Reuters reported in May 2026 that JIC was considering a sale and that Fujifilm and Mitsubishi Chemical had expressed interest. Nikkei said a sale to Mitsui Chemicals would be the largest acquisition ever in Japan's chemicals sector.
