JPMorgan Fund To Acquire Shares In Nippon Gas

Nippon Gas Co., Ltd., a listed retailer of gaseous energy, announced that it will issue new shares and dispose treasury stock through a third-party allotment underwritten by One Equity Partners, an investment banking group of JPMorgan Chase & Co. OEP, paying 10.35 billion yen, will become the largest shareholder (18.53%). The fund plans to contribute to the energy company by proposing overseas investment projects as well as dispatching an executive as a director of the company.

Daiwa Sec. Group To Do M&A Finance Business With Aozoara Bank

Daiwa Securities Group, a major securities house group, announced that Daiwa and Aozora Bank will set up the joint-venture company "Aozora Daiwa Finance Co., Ltd." to accommodate M&A financing. Through this partnership, Daiwa will be the one-stop M&A service provider for financial advice to its related fundings.

Ex-ngi To Set Up The First Venture Fund

Hiroyuki Watanabe, ex general manager of ngi group, a listed internet-focused investment company, founded B Dash Ventures Inc. and set up a "B Dash Fund" which targets a 2.5 billion yen in size by 2012. So far the committed LPs are NTT Investment Partners, NEC Biglobe, Gree, Septeni Holdings, and Mitsubishi UFJ Capital. The B Dash Fund invests in mainly internet-related start-ups and venture companies.

Aeon Bank To Buy Failed Incubator Bank

Aeon Bank, a banking unit of retail giant Aeon Group, is in the final stage of negotiations to purchase the failed Incubator Bank of Japan, according to The Nikkei. Aeon Bank, which initially targeted retail customers, plans to beef up the corporate finance business for small to midsized companies with this acquisition. The Incubator Bank of Japan went under in September 2010.

SBI To Set Up Fund With the Royal Group In Cambodia

SBI Holdings, Inc., a financial conglomerate, announced that SBI will form a business alliance with the Royal Group, Cambodia's largest conglomerate. As a starter, SBI and the Royal Group set up an investment fund targeting mainly Cambodian companies. The fund size is to be a maximum of US $50 million in total, in which SBI and the Royal Group will each invest US $25 million.

Advantage Partners To Invest In Chinese Telecom Company

Advantage Partners, a major private equity firm, has made a roughly 1.5 billion yen investment in Hisense Multimedia Technologies Co., an optical communication unit of Chinese appliance giant Hisense Group, according to Nikkei. The Japanese mega buyout shop acquired it through a private placement. This is the second Chinese investment for AP.

Heathcare Servicer To Go Private Via MBO With Carlyle

N.I.C. Co., a healthcare-related services provider, announced that NIC approved a tender offer set up by The Carlyle Group and the management of NIC from NC Holding. The TOB price is set at 530 yen, a 59.16% premium over a 3 month average. While the global mega buyout shop will make an investment of 7.08 billion yen, Sumitomo Mitsui Bank is ready to provide up to 5.35 billion yen in financing. This is the second deal for The Carlyle Japan this year.

Foreigners-targeted Souvenior Shop Operator To Go Private Via MBO

RH Travellers Corp., a listed travel-related retailer, announced that RH Travellers approved the tender offer from investment vehicles by the CEO and other directors of RH Travellers. The TOB price is set at 118 yen, a 40.70% premium over a 3-month average. After sales nosedived from the earthquake and nuclear events, RH Traveller couldn't help changing their business model drastically. RH Traveller will be delisted upon the successful conclusion of the deal.

INVEST AD/SBI AFRICA FUND To Make its First Investment in Africa

SBI Holdings Inc., a financial conglomerate, announced that The INVEST AD/SBI AFRICA FUND, a joint venture managed by SBI Holdings Inc. and the Abu Dhabi Investment Company, has made its first investment by participating in the initial public offering of the Bank of Kigali Limited, the largest commercial bank in Rwanda. The Fund was set up in January 2011 and invests in companies located in African countries where significant economic growth is expected.

Mega Retailer To Boost Children Wears With PE-backed Apparel Maker

Aeon Corp., a listed general merchandise store operator, will develop their children's clothing line-up by adding 2 popular brands of Narumiya International Co., a SBI-backed children-focused apparel manufacturer, according to Nikkei. These two brands are Angel Blue and MINI-K. Narumiya was delisted via a tender offer by a SBI Fund in March 2010.

BALS To Go Private Via MBO

BALS Co., a retailer for furniture and interior household accessory items, announced that BALS has approved a tender offer from an investment vehicle set up by the CEO of BALS. The TOB price is set at 100,000 yen, a 44.2% premium over a 3 month average. Sumitomo Mistui Bank and Mizuho Bank is ready to provide up to 12.5 billion yen in financing. Mitsubishi Corp., a major trading house, will invest in the vehicle indirectly and help BALS cultivate overseas markets.

English Retailer To Closing-Out Sale In Japan

Tesco PLC announced that Tesco decided to sell their operations in Japan. The leading English retailer, after reviewing their portfolio in Asia and the performance of their business in Japan, concluded that they cannot build a sufficiently scalable business and focus on their larger businesses in the region. Japan is the smallest of Tesco's international retail businesses.

INCJ To Integrate Small and Medium-sized Display Business of Conglomerates

Innovation Network Corporation of Japan (INCJ), a public-private investment fund, Hitachi Ltd., Sony Co.,and Toshiba Co. announced that they have agreed to integrate their small and medium-sized display businesses, which are operated by subsidiaries of Hitachi, Sony and Toshiba. INCJ and those conglomerates will establish a new company, in which INCJ will be a major shareholder (70%) with Hitachi, Toshiba and Sony at 10% each. INCJ plans to invest a total of 200 billion yen and provide financial, technological, and management support.