RHJ International, once one of the most active buyout funds in Japan, has further reduced its investment in Japan by selling all of its remaining stake in autoparts maker U-Shin (TSE 6985). RHJI originally acquired a 20% stake in U-Shin in 2006 with an initial plan to merge U-Shin with Niles, one of its portfolio companies. Unfortunately, the merger plan subsequently fell apart due to a disagreement within U-Shin's management.
RHJI sold its stake in music company Columbia Music Entertainment this January. RHJI still holds four Japanese companies (Asahi-Tec, Niles, Phoenix Resort, and Shaklee) in its portfolio.
March 17, 2010
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