June 26, 2012

KKR Might Invest In Troubled Chip Maker Renesas Elec.

According to The Nikkei, Renesas Electronics Co., a struggling chipmaker, hopes to raise its capital by issuing roughly 50 billion yen in new shares to Kohlberg Kravis Roberts & Co., an US-based investment firm. Renesas announced it posted a group net loss of 62.6 billion yen for the year ended March. This is the second straight year to post a net loss. As a result, Renesas need structural reforms as well as financial supports. Renessa's major shareholders NEC Corp. , Hitachi Ltd., and Mitsubishi Electric Corp.. are ready to provide financial assistances.

June 23, 2012

Sumitomo To Sell Half Shares Of TV Shopping Co. To Bain

Sumitomo Corporation, a major trading house in Japan, announced that Sumitomo sold a 50% stake in subsidary Jupiter Shop Channel Co., Ltd., the largest TV shopping company in Japan, to Bain Capital. With integrating Bain's knowledge and worldwide network into the robust business foundation by Jupitar, Sumitomo will increase Jupiter's corporate value through the expansion of its customer base, improvement of cost competitiveness and promotion of expansion into Asia.Bain Capital in Japan has acquired Bellsystem 24, a leading call-center operator, in 2009 and Skylark, a major family-restaurant chain operator, in 2011.

June 18, 2012

Recruit Co To Invest In US, Asian Start-Ups

Recuit Co., a major information service provider, has set up 2 funds, valued at approximately 3 billion yen in total, to invest in promising internet start-up firms in Asia and the US, according to The Nikkei. Recruit will focus on investment in next-generation technologies in the US using the 1 billion yen fund and set aside the rest for opportunities in Asia. The company has already set up an office in California's Silicon Valley area.

June 12, 2012

WL Ross-backed OHIZUMI MFG. To Go Public

OHIZUMI MFG. Co., Ltd., a temperature sensors-based electrical parts manufacturer, announced that OHIZUMI will be listed on The Tokyo Stock Exchange on the 22nd of June. OHIZUMI has expanded worldwide since WL Ross & Co. LLC, a global turnaround group, invested in January 2003.