Japan-Backed Fund, to Buy, Chipmaker JSR.br On June 26, Japan announced plans to bolster its chip br industry with a government-supported fund to br purchase semiconductor materials producer JSR Corp.br The $6.4 billion move by Japan br Investment Corp (JIC) will be overseen br by the country's powerful trade ministry. .br Reuters reports that the move is the latest by the government to regain Japan's dominance in advanced chip production.br In late December, JIC reportedly plans to offer br 4,350 yen per share ($30) to take JSR private. .br Financing for the massive deal will be provided br by Mizuho Bank and the government-supported br Development Bank of Japan (DBJ). .br Ahead of the official announcement, shares in br JSR reached their daily limit, rising by 22.br Reuters reports that the news also increased expectations br of sector consolidation, which drove shares in Tokyo Ohka br Kogyo, Sumitomo Chemical and Shin-Etsu Chemical up. .br Capabilities here are superb, br but there are a lot of us and all of br us are spending money redundantly, br so we feel the opportunities for br efficiency gains are significant, Eric Johnson, JSR CEO, via Reuters.br News of the deal comes as the United States br looks to increase domestic chip manufacturing br capacity amid deepening tensions with China.br News of the deal comes as the United States br looks to increase domestic chip manufacturing br capacity amid deepening tensions with China.br Reuters reports that both the Netherlands and br Japan have joined the U.S.