Planned commencement of tender offer for JSR Corporation

Tokyo, June 26, 2023 — Japan Investment Corporation (“JIC”)announces that its wholly owned subsidiary JIC Capital, Ltd.(“JICC”) today disclosed that it would seek toacquire shares of JSR Corporation (“JSR”) through a tender offer (the"Tender Offer") by JICC-02, Ltd., a wholly owned subsidiary of JICC,under the Financial Instruments and Exchange Law. The Tender Offer is currentlyplanned to commence in late December 2023. Details of the schedule will be announcedpromptly once they are confirmed.

 

<Overviewof Tender Offer>

<Purposeof Tender Offer>

Semiconductors are used in everycorner of the world, and there is fierce global competition for their acquisition,development, and manufacturing. Semiconductor materials are critical to thesuccess of their development and manufacturing, and enhancing the internationalcompetitiveness of the semiconductor materials industry is important instrengthening Japan's industrial competitiveness.

 

Under thesecircumstances, the Tender Offer is designed to enable JSR to smoothly andrapidly promote its bold, medium-to-long-term strategic investments withoutbeing bound by the short-term impact on business performance. JSR will becomeprivate under a strategic partner of JICC through the Tender Offer to pursuestructural reforms and restructuring in a flexible manner.

 

This initiative will providean opportunity for industry reorganization and acquisition of private funds tostrengthen the international competitiveness of the semiconductor materialsindustry.

 

 

Fordetails, please refer to the attached materials, “Announcement RegardingPlanned Commencement of Tender Offer for JSR Corporation (Securities Code:4185)”.

 

 

Disclaimer

JICC-02, Ltd. and JSR's financialadvisors, and the Tender Offer Agent (including their affiliates) in theordinary course of their business and to the extent permissible under Japanesefinancial instruments laws and regulations and other applicable laws andregulations, and subject to the requirements of Rule 14e-5(b) of the U.S.Securities Exchange Act of 1934 (the "Securities Exchange Act"), may acquireJSR's shares for their own account or for the accounts of their customersduring the Tender Offer Period, or may take actions directed toward such acquisitions. Such acquisitions may be made atmarket prices through market transactions or at prices determined throughoff-market negotiations. Any tender offer-related information that is disclosedin Japan will also be disclosed in the U.S. in the same manner.

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