Japanese chemical manufacturer Nippon Shokubai has officially completed the acquisition of GOO Chemical, a Kyoto-based specialty chemicals and photoresist-materials maker.

Nippon Shokubai acquired all 3,520,000 shares of GOO Chemical for ¥20 billion (roughly $126.6 million), taking 100% ownership and turning the Uji-based company into a wholly owned subsidiary. The shares were purchased from a domestic investment fund.

The strategic move is aimed at expanding and strengthening Nippon Shokubai’s electronics and semiconductor-materials portfolio. GOO Chemical specializes in high-performance materials used in electronic components and chip production, which will now integrate into Nippon Shokubai's broader chemical and functional-materials business.

This deal highlights a broader trend among Japanese chemical companies seeking to scale up their presence in high-growth tech and semiconductor supply chains.