Ant Capital sells Honma Golf to a Chinese Company

Golf club maker Honma Golf Co. will go under the umbrella of Marion Holdings Ltd., a holding company backed by Chinese firms, according to Nikkei. Ant Capital Partners Co. and Milestone Turnaround Management will by the end of March sell more than 50% of Homma's shares to Marion, which counts among its shareholders investment firm Crest Group Co.. The Chinese golf market is expected to grow as the country's economy develops. Honma will seek to expand through its ties with Marlion's shareholders. Honma filed for bankruptcy protection in 2005 and completed court-led rehabilitation proceedings the following year. Chinese companies are showing an increasing appetite for Japanese investment. Retail giant Suning Appliance Co. bought Tokyo-based elecronics retailer Laox Co. last August.