U.S. law firm Davis Polk & Wardwell and Japan’s Mori Hamada & Matsumoto are advising a consortium led by state-backed Japan Investment Corp (JIC) on its offer to buy out semiconductor packaging maker Shinko Electric Industries from Fujitsu for $4.71 billion.

The deal will take Tokyo-listed unit Shinko Electric, which is being represented by Nishimura & Asahi, private. The consortium, which includes Dai Nippon Printing and Mitsui Chemicals, will launch a tender offer for shares not held by Fujitsu, and take Fujitsu’s 50 percent stake in the company in a separate transaction.

The buyout of Shinko Electric marks the latest intervention in the chip sector by JIC, which is overseen by the powerful trade ministry, Reuters reported.

Mori Hamada and Davis Polk also advised JIC on its $6.4 billion acquisition of semiconductor materials maker JSR earlier this year.