JIC hitches a snag: China delays $6.4 billion JSR buyout

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, 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, the chip-packaging unit of Fujitsu that JIC plans to buy for 684.9 billion yen ($4.77 billion), within its 10-year investment horizon. Reuters