In response to changes in the market environment, JSR Co., Ltd., a leading global photoresist manufacturer, announced that it will withdraw from the LCD material market, close its Taiwan factory, reduce production capacity in South Korea, and lay off employees in two regions at the same time.
JSR issued a press release on the 14th of this month announcing that in response to changes in the competitive environment in the LCD material market, it will withdraw from some LCD material markets. JSR pointed out that it will end the sales of Color Resist and Photo Sensitive Spacer in Taiwan and South Korea by the end of September 2021, and other LCD materials will continue to be sold in Taiwan, China in the future. Sales in South Korea, while color photoresist and optically sensitive gap particles will continue to be sold in the Chinese mainland market.
JSR pointed out that it plans to close the factory of JSR Micro Taiwan (JMW), a subsidiary of China`s Taiwanese subsidiary, at the end of March 2022. At present, the factory will be used to produce and supply protective film and insulating film products for the Taiwan/Mainland China market in 2022. Before the end of the month, it will be transferred to the Japanese plant (JSR Micro Kyushu) and the Chinese mainland plant (JSR Micro Changshu) for production.
In addition, its South Korean subsidiary JSR Micro Korea (JMK) will reduce its production capacity, and its production line will be changed from the current two-shift system to a day-shift system at the end of March 2022, while supplying the color photoresist and optical rotation required by the Chinese mainland market. Interstitial particles, protective films, and insulating films will be transferred to factories in Japan and China for production.
At the same time, JSR stated that with the implementation of the aforementioned reorganization measures, it plans to implement necessary staff reduction (layoff) measures for JMW and JMK by the end of March 2022.