JSR will close its Taiwan factory and lay off employees; exit some LCD material markets
In order to respond to changes in the market environment, JSR, a global liquid crystal panel (LCD) alignment film and color photoresist manufacturer, announced that it will withdraw from the LCD material market, close its Taiwan factory, reduce production capacity in South Korea, and implement layoff measures.
JSR issued a press release after the Japanese stock market on the 14th, announcing that it will withdraw part of the LCD material market in response to changes in the competitive environment in the LCD material market. 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 and South Korea in the future. Sales, and color photoresist and photosensitive gap particles will continue to be sold in the Chinese market.
JSR pointed out that it plans to close the factory of its subsidiary JSR Micro Taiwan (JMW) in Taiwan at the end of March 2022. The factory is currently used to produce and supply protective film and insulating film products that are required by the Chinese market in 2022. Before the end of March, it will be transferred to the Japanese factory (JSR Micro Kyushu) and the Chinese mainland factory (JSR Micro Changshu) for production.
In addition, the South Korean subsidiary JSR Micro Korea (JMK) will reduce its production capacity and will change its production line from the current two-shift system to a day-shift system by the end of March 2022, and supply the colors required by the Chinese market Photoresist, photosensitive gap particles, protective film, and insulating film will be transferred to factories in Japan and China for production.
JSR stated that with the implementation of the above reorganization measures, it plans to implement necessary staff reduction (layoffs) measures for JMW and JMK by the end of March 2022. (Source: moneydj)
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