Polaris To Invest In Transportation Company

Polaris Capital Group Co. Ltd., a middle market-focused private equity firm, acquired Kanto-Unyu Co., a private trucking company, for an estimated 5 billion yen, according to The Nikkei. Polaris bought shares from Kanto's parent company. Kanto has 15 billion yen in consolidated sales and 1,500 employees.

Mizuho Capital Partners To Exit Investment In Machinery Trading House

Shinsho Corporation, a listed trading unit of Kobe Steel Group, announced that Shinsho has acquired shares in Matsubo Co., a PE-backed machinery-based trading company, and made it a subsidiary. Matsubo was divested from Ebara Corporation, a listed time-honored manufacturer of pumps and air blowers, via MBO with Mizuho Capital Partners, a middle market-focused private equity firm, in 2007. Mizuho held a 85.7% share and has agreed to sell it all.

Tokio Marine Capital To Exit Investment In MIKI SHOKO

Tokio Marine Capital Co., Ltd., an one of major private equity firm in Japan, announced that it sold its entire equity stake in MIKE SHOKO Co., Ltd., a children-focused apparel company, to business partners of MIKI SHOKO. They are Nisshinbo Holdings Inc., N.I. Teijin Co., Ltd., KONDO COTTON SPINNING Co., Ltd., Tamurakoma & Co., Ltd., Kurabo Industries Ltd., and Shogakukan-Shueisya Productions Co., Ltd.. TMC invested in MIKI SHOKO in August 2006 through a third-party allotment.

AP To Invest In Eyewear Chain Operator

Advantage Partners, LLP., a major private equity firm, announced that AP reached an agreement with Meganesuper Co., Ltd., a listed eyewear chain operator, to acquire a stake through a private placement and to provide a loan with a warrant. Meganesuper has had a very hard time in fierce price competition and ended up with losing grounds recently. This investment will be implemented with certain conditions like approval at the stockholders meeting etc.. Meganesuper will maintain its listing status.

Nikko Asset To Go Public

Nikko Asset Management Co., Ltd., a Tokyo-based asset management company with AUM of $154 billion, announced that Nikko Asset list its shares through a 45.5 billion yen ($590 million) initial public offering on the Tokyo Stock Exchange on December 15. This is the second largest IPO deal next to Nexon. Sumitomo Mitsui Trust Holdings, which acquired Nikko Asset from Citigroup in 2009 and now owns 91.3%, will offload part of its shareholdings. Nikko Asset recently bought Singapore's DBS Asset Management and Australian firm Tyndall Investment plans to be a major Asian asset management company.

Nexon To Go Public

Nexon Co., an Asian on-line game entertainment company, announced that Nexon will be listed on The Tokyo Stock Exchange on the 14th of December. The Korean-based game developer recently moved its headquarters from Seoul to Tokyo. This IPO wil be the biggest one in 2011, with raising $1.3 billion (100 billion yen ) from the listing. Nomura Securities, Morgan Stanley and Goldman Sachs will handle the deal.

Sodick Plustech To Go Private Via Tender Offer By Parent Company

Sodick Plustech Co., Ltd., a listed manufacturer of resin processing machines, approved a tender offer by its parent company Sodick Co., Ltd., a listed manufacturer of NC electrodischargers. Sodick holds a 64% shares in Sodick Plustech. The TOB price is set at 210 yen, a 38.16% premium over a 3 month average. Sodick Plustech, listed on the Jasdaq market in Aug 2001, will be delisted upon a successful outcome of the deal.

Cannon Marketing To Tender Offer For Showa Inf. System

Cannon Marketing Japan Inc., a marketing unit of Cannon Group, announced that Cannon Marketing has made a tender offer for Showa Information System Co., a listed printing-based solution provider. The TOB price is set at 200 yen, a 81.82% premium over a 3-month average. Mars Engineering Corp., the Showa Information's largest sharholder, agreed to tender their shares. This is a second deal for Cannon Marketing to merge a listed company via a tender offer.

Hokkaido-based Hotel Operator To Go Private Via MBO

Karakami Kankoh Co., a listed Hokkaido-based hotel chain operator, announced that Karakami Kanko approved a tender offer by an investment vechile set up by its current CEO and the founding family. The TOB price is set at 120 yen, a 36.4% premium over a 3-month average. The Hokkaido Bank is ready to provide as much as 880 million yen in financing. Karakami Kanko has been in troubles financially from sluggish sales for years.

GameOn To Be Delisted Via Tender Offer

GameOn Co., a listed provider and developer of on-line games, announced that GameOn approved a tender offer by its top shareholder, NEOWIZ Games Co.. The TOB price is set at 88,300 yen, a 45.6% premium over a 3-month average. NEOWIZ is a major online game servicer in South Korea, from which GameOn deals mainly in imported games.

Shinkin Central Bank To Form Y5bn Fund For Quake-hit Firms

Shinkin Central Bank, the umbrella body for credit associations, or shinkin banks, plans to launch a 5 billion yen investment fund to help revitalize small vusinesses hurt by the March 11 earthquake disaster, according to Nikkei. Shinkin Central Bank and its venture capital firm Shinkin Caital Co. will set up this new fund in mid Decmber.

Average Group Annuities Investment Inked -8.92% In The First Half of 2011

The average return for group annuities in special accounts which Japan's six largest insurers invest in on behalf of corporate pension funds was minus 8.92% in the first half of fiscal 2011, compared with minus 6.75% a year earlier, according to Nikkei. The another poor performance in investment return is mainly attributed to a drop in domestic stock prices and the yen's sharp rise hurting investments in foreign bonds.