Latest news with #JSR
Time of India
a day ago
- Automotive
- Time of India
In Brief: Chennai-Bengaluru route gets upgrade
Kolar MP M Mallesh Babu The Bengaluru-Nangali road that connects Bengaluru to eastern parts of the country like Chennai, Tirupati and beyond will soon be the stretch from KR Puram to Hoskote is already six-laned, while the road from Hoskote to Nangali (Karnataka-Andhra Pradesh border) remains four-laned. With increasing traffic congestion on the latter section, road accidents have also been on the rise, prompting action from that a proposal to widen the road into a six-lane highway, along with four service roads, has received approval. A detailed project report worth Rs.2,400 crore has been prepared. To enhance safety, the plan includes installing barricades and limiting entry and exit points to every 10 to 15 km. JSR toll concession on NH75 ended; project transferred to NHAI, noted Babu.
CNA
21-05-2025
- Business
- CNA
Japan's JIC says JSR's weak financials do not affect chipmaking consolidation goal
TOKYO :State-backed JIC's private equity arm said its goal of driving consolidation in Japan's chipmaking sector through portfolio firm JSR is unaffected by weak financial performance at the photoresist maker. Japan Investment Corp took JSR private last year in a $6 billion deal with the materials manufacturer saying it planned to make deals. However, JSR ended the year in March with an operating loss of 209 billion yen ($1.45 billion). "Our goal was to take JSR private and ... through a series of industry reorganisations, such as mergers with similar companies or rivals ... to significantly grow the semiconductor business and enhance international competitiveness, leading to re-listing," JIC Capital CEO Shogo Ikeuchi said in an interview. "That goal hasn't really changed at all even now," he said. JSR has replaced top management and embarked on restructuring, with its new CEO telling Reuters that the firm is not ready to make acquisitions. The company's struggling life sciences business has pulled down its earnings. JSR has agreed to sell part of the business to Tokuyama Corp in an 82 billion yen deal. JIC's buyout of JSR has been controversial in the industry, with some questioning the need for such intervention and prospects for successfully reshaping the sector. "Japan is a country where restructuring is structurally difficult," Ikeuchi said. JIC was set up in 2018 to invest in companies with the goal of boosting Japan's competitiveness and is overseen by the trade ministry. JSR previously said it aims to relist in five to seven years. That is still the plan, though an earlier listing is possible, said Ikeuchi, a former executive at staffing firm Recruit. The CEO of JSR peer Resonac, Hidehito Takahashi, in February said his firm was interested in being involved in JSR when JIC exits.
Reuters
21-05-2025
- Business
- Reuters
Japan's JIC says JSR's weak financials do not affect chipmaking consolidation goal
TOKYO, May 21 (Reuters) - State-backed JIC's private equity arm said its goal of driving consolidation in Japan's chipmaking sector through portfolio firm JSR is unaffected by weak financial performance at the photoresist maker. Japan Investment Corp took JSR private last year in a $6 billion deal with the materials manufacturer saying it planned to make deals. However, JSR ended the year in March with an operating loss of 209 billion yen ($1.45 billion). "Our goal was to take JSR private and ... through a series of industry reorganisations, such as mergers with similar companies or rivals ... to significantly grow the semiconductor business and enhance international competitiveness, leading to re-listing," JIC Capital CEO Shogo Ikeuchi said in an interview. "That goal hasn't really changed at all even now," he said. JSR has replaced top management and embarked on restructuring, with its new CEO telling Reuters that the firm is not ready to make acquisitions. The company's struggling life sciences business has pulled down its earnings. JSR has agreed to sell part of the business to Tokuyama Corp (4043.T), opens new tab in an 82 billion yen deal. JIC's buyout of JSR has been controversial in the industry, with some questioning the need for such intervention and prospects for successfully reshaping the sector. "Japan is a country where restructuring is structurally difficult," Ikeuchi said. JIC was set up in 2018 to invest in companies with the goal of boosting Japan's competitiveness and is overseen by the trade ministry. JSR previously said it aims to relist in five to seven years. That is still the plan, though an earlier listing is possible, said Ikeuchi, a former executive at staffing firm Recruit (6098.T), opens new tab. The CEO of JSR peer Resonac (4004.T), opens new tab, Hidehito Takahashi, in February said his firm was interested in being involved in JSR when JIC exits. Resonac is one option among many, Ikeuchi said, noting the chip materials maker's debt burden. ($1 = 144.3800 yen)
Zawya
27-03-2025
- Business
- Zawya
KKR nears deal to buy Japanese medical gear maker Topcon, sources say
TOKYO - Private equity firm KKR is nearing a deal to acquire Japanese medical gear maker Topcon, according to people familiar with the matter, marking the latest sign of increased leveraged buyout activity in Japan. If the talks are successful, a deal could be signed in the coming days, the sources said, requesting anonymity as the discussions are confidential. The price being discussed has not been disclosed yet. Topcon has a market value of about 323.4 billion yen ($2.15 billion), and opened at 2,944.5 yen per share on Thursday, down 0.9% from Wednesday's closing price. KKR and Topcon declined to comment. The potential deal comes as Japan's corporate governance reforms, rising shareholder activism, and a weak yen have created a favourable environment for dealmaking, particularly for private equity firms. A growing number of Japanese firms under pressure from activist funds have recently chosen to go private, including chemicals company JSR and software firm Fuji Soft. Topcon has been exploring a sale with the help of its advisers, and several private equity firms have been bidding to take the company private. Founded in 1932, Tokyo-based Topcon also manufactures and sells eyecare, smart infrastructure and positioning products. Industrial conglomerate Toshiba previously owned 30% of Topcon, but sold its entire stake in 2015. Activist investors ValueAct Capital and Oasis Management Company are the largest shareholders of Topcon, holding stakes of 13.69% and 10.58%, respectively, according to data compiled by LSEG. In its most recent quarterly earnings, Topcon projected a group operating profit of 7 billion yen ($46.51 million) and sales of 211 billion yen for the year ending March 31. ($1 = 150.4900 yen) (Reporting by Makiko Yamazaki in Tokyo, Anirban Sen in New York and Kane Wu in Hong Kong; additional reporting by Anton Bridge in Tokyo; Editing by Sherry Jacob-Phillips)
Yahoo
27-03-2025
- Business
- Yahoo
JSR's incoming CEO signals focus on finances, retreat from sector M&A ambitions
By Sam Nussey and Miho Uranaka TOKYO (Reuters) - The incoming CEO of Japanese chip materials maker JSR plans to focus on restoring the company's business performance, shifting away from previous ambitions to drive consolidation in the sector. JSR's financial performance is not good, and the company is not ready to make acquisitions, Tetsuro Hori, who will assume the CEO role on April 1, said in an interview on Wednesday. "We need to recover the life science business. This is the first priority," he said. The company's business performance has deteriorated, affected by losses in its life sciences unit, sparking industry speculation that JSR may attempt to sell the division. "JSR might not be the best owner of the life science (business), that's what I'm thinking right now," said Hori, adding that nothing has been decided and the business' performance would need to improve before any potential sale. Under outgoing CEO Eric Johnson, JSR was taken private by the state-backed Japan Investment Corp (JIC) last year in a $6 billion deal. Johnson had argued that the buyout would free JSR, a leading maker of photoresists for chipmaking, from the challenge of managing its foreign investor base, enabling the company to pursue sector deals. However, the transaction has been controversial, with some in the industry questioning whether JSR could successfully make deals that would significantly reshape the sector. Hori said that M&A must be supported by customers, and they must also create value. Hori joined JSR as chief financial officer in January, and had previously served as an executive at chipmaking equipment manufacturer Tokyo Electron. Hidehito Takahashi, the CEO of chip materials maker Resonac, said last month that he would like his company to be involved when JIC exits JSR. "If we can find some good synergy probably those deals could be on the table," Hori said, adding that he hasn't had discussions with Resonac. JSR booked a net loss of 22.2 billion yen ($148 million) in the six-month period ended September 30. Hori hopes to return the business to profitability by the next financial year, which ends in March 2026. ($1 = 150.3800 yen) Sign in to access your portfolio
