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JSR to Establish a Joint Company to Manufacture Display Materials in China

CORPORATE  12/01/2014
Tokyo, Japan, December 1, 2014 – JSR Corporation (JSR; head office: Minato-ku, Tokyo; Representative Director and President: Mitsunobu Koshiba) is pleased to announce that it entered into a final agreement with Chang Chun Petrochemical Co., Ltd. (Chang Chun Petrochemical; and Chairman: Long-Shing Liao), a major chemical company in Taiwan, to establish JSR Micro (Changshu) Co., Ltd., a joint company to manufacture display materials, in Changshu, China. The total investment amount will be approximately 4 billion yen.

Thejoint company will be incorporated with 51% of the total shares held by JSR, and 49% will be held by Chang Chun Petrochemical. The new company’s plant will be constructed on the property of Chang Chun Petrochemical’s local company in Changshu, China to manufacture liquid crystal display (LCD) materials such as color pigmented resists, photo sensitive spacers, and protective coatings. Changshu is an excellent location in terms of providing products to customers in China. The plan is to begin construction in the middle of 2015, and to commence production by the end of 2016.

Since 2000, the demand for display materials has been growing rapidly, mainly in Asia. To meet the increasing demand, we have so far established JSR Micro Korea (North Chungcheong Province, Korea) and JSR Micro Taiwan (Yunlin County, Taiwan). By supplying products from locations near customers, we have deepened with them relationships of trust. The new joint venture to be established this time will be the third overseas production base for our display materials business.

It is expected that due to the government’s policy of shifting toward domestic production of LCD panels, the Chinese LCD industry will continue expansion and growth, and that the country’s market will become the world’s largest by around 2020.

By combining Chang Chun Petrochemical’s know-how regarding plant operation in China and JSR’s technological capabilities, we would like to develop our business even more actively in the Chinese market.

<Profile of the New Joint Company>
CompanyJSR Micro (Changshu) Co., Ltd.
BusinessManufacture of display materials
CapitalUSD 20 million
Investment RatioJSR: 51%; Chang Chun Petrochemical: 49%
LocationChemicals Concentration Zone, National-Level Changshu Economic and Technological Development Zone, Changshu, Suzhou, Jiangsu Province
Production ItemColor pigmented resists, photo sensitive spacers, protective coatings, etc.

<Profile of Chang Chun Petrochemical., Co. Ltd>
CompanyChang Chun Petrochemical Co., Ltd.
LocationTaipei, Taiwan
RepresentativeLong-Shing Liao (Chairman)
CapitalNTD 7,150 million
Date of EstablishmentJuly 10, 1964
BusinessManufacture and sales of resins (acrylic resins, PVA, PVAc, PVB, EVOH, etc.), electronic chemicals (developing solutions, dissociation solutions and cleaning thinners for semi-conductors and LCDs, high-purity hydrogen peroxide, copper foil, etc.), plastic additives (epoxidized soybean oil, oxidation inhibitor, etc.), industrial intermediates, medical intermediates (glacial acetic acid, hexamine, pyridine, sodium formate, trimethylolpropane, β-picoline, etc.), and others (methyl acetate, butyl acetate, N-propyl acetate, etc.)