On October 13, 2022 JSR Corporation (Representative Director, CEO: Eric Johnson, "JSR") reported that it has signed a Share Purchase Agreement to acquire the 60% of shares held by PERI Corporation ("PERI") and make JSR Electronic Materials Korea Co., Ltd. ("JEMK") a wholly owned subsidiary of JSR (Press release, JSR, OCT 13, 2022, View Source [SID1234621984]). JEMK is a joint venture between PERI and JSR, which is the sales agent/distributor of its Electronic Materials business in Korea.

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JEMK was established in 2014 and has contributed the growth and expansion of JSR’s electronic materials business in Korea. With the current progress, and full-fledged development of cutting-edge technologies at customers, including the metal oxide resist of Inpria Corporation acquired in October 2021, it becomes increasingly important for JSR to promote businesses in closer relationships with customers. Given this environment, JSR decided to make JEMK a wholly-owned subsidiary and promote greater customer satisfaction and faster service delivery through integrated group management. Going forward, JSR will collaborate with JSR Micro Korea Co., Ltd. to strengthen critical functions such as research and development.

By making JEMK a wholly owned subsidiary, JSR will further strengthen the global collaboration of its semiconductor materials business and build a system that enables solutions quickly and smoothly, which will lead to further customer and product portfolio expansion.