JIC chief says no issues with Chinese antitrust regulator over JSR buyout

JSR

20/12/2023 05:54

TOKYO, Dec 20 (Reuters) - State-backed Japan Investment
Corp (JIC) sees no particular issues with China's antitrust
regulator over its planned $6.4 billion buyout of chip materials
firm JSR Corp  4185.T , the chief executive of the fund said on
Wednesday.
    JIC, which is overseen by the trade ministry, this week
pushed back the expected start of its tender offer for JSR from
late December to late February at the earliest, citing delay in
an Chinese antitrust review.
    "There aren't any particular issues with the Chinese
regulator," JIC Chief Executive Keisuke Yokoo told a press
conference. "We expect it to be done by March-end of the current
financial year," he said.
    He also said the fund aims to eventually list JSR, as well
as Shinko Electric Industries  6967.T , the chip-packaging unit
of Fujitsu  6702.T  that JIC plans to buy for 684.9 billion yen
($4.77 billion), within its 10-year investment horizon.    

($1 = 143.6500 yen)

 (Reporting by Makiko Yamazaki; Editing by Christopher Cushing)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))