The Japanese Investment Corporation has proposed a $6.3bn acquisition of semiconductor material company JSR, offering a 35% premium on the closing price of shares on Friday. JSR is a major company in the semiconductor supply chain, with its focus being on photoresists, a light-sensitive material used in the process of etching patterns into wafers. The acquisition comes as semiconductors become a focus of tensions between the US and China, with countries trying to secure their supply chains and build up their domestic chip industries.

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