Brightrust Japan Private Equity News

Benesse To Acquire UP Inc. Via Tender Offer

2012-02-01T14:07:00.001+09:00

UP Inc., a listed cram school operator, announced that it approved a tender offer from Benesse Holdings Inc., a leading independent education provider. The TOB price is set at 1050 yen, a 84.9 % premium over a 3 month average. UP will delist from the Tokyo Stock Exchange after Benesse's buyout.

NTT Data To Tender Offer For JBIS

2012-02-01T13:57:00.001+09:00

JBIS Holdings Inc., a securities industry-focused software company, announced that JBIS approved a tender offer from NTT Data Co., a major system integrator. The TOB price is set at 310 yen, a 31.91% premium over a 3-month average. JBIS will be delisted upon the successful outcome of this deal.

NTT Docomo To Tender Offer For Home Delivery Servicer

2012-01-31T15:03:00.006+09:00

Radish Boya Co., Ltd., an organic vegetables-based home delivery service provider, announced that it approved a tender offer by NTT Docomo Inc. the biggest mobile carrier in Japan. The TOB price is set at 990 yen, a 36.6 % premium over a 3-month average. Radis's top shareholder is a buyout fund managed by JAFCO Co.Ltd., a listed private equity firm, who agreed to accept the offer. Upon the successful outcome of this deal, NTT Docomo plans to provide at most a 20% share of Radish to Lawson, a leading convenience store operator, for further business development among 3 parties .

AP To Acquire Housing Renovator Via Tender Offer

2012-01-27T16:45:00.002+09:00

Yasuragi Co., Ltd., a Nagoya Exchange-listed housing renovation and sales company, announced that it approved a tender offer from an investment vechile by Advantage Partners, a major private equity firm. The TOB price is set at 627 yen, a 82.80% premium over a 3-month average. The deal size is 12.9 billion yen at most. Yasuragi will be delisted upon a successful outcome of it.

Nurcing Home Operater To Acquire Nursing Care Provider

2012-01-20T15:03:00.005+09:00

Japan Care Service Group Co., a listed nursing care provider, announced that it approved a tender offer by Message Co., Ltd., a listed nursing home operator. The TOB price is set at 345 yen, a 50% premium over a 3-month average. The deal size is about 2.849 billion yen at most.

Parker Hannafin To Tender Offer For TAIYO

2012-01-20T15:02:00.004+09:00

TAIYO, Ltd., a listed hydraulic/pneumatic equipment maker, announced that TAIYO approved a tender offer by its largest shareholder (56.49%) Parker-Hannifin Corporation. The TOB price is set at 250 yen, a 103.3% premium over a 3-month average. Parker-Hannifin is a NYSE-listed global leader in motion and control technologies. Parker-Hannifin formed a capital and business alliance with TAIYO in Feb. 2014. TAIYO went public in March 2008.

Fuji Media To Acquire Sankei Building

2012-01-20T15:01:00.003+09:00

Fuji Media Holdings Inc., a listed broadcasting holding company, announced that its wholly owned subsidiary Fuji Media Service Inc., will acquire The Sankei Building Co., Ltd., a mid-size real estate developer, through a tender offer. The TOB price is set at 740 yen, a 139% premium over a 3-month average. The deal size is at most 32.83 billion yen. Fuji Media Service is the largest shareholder of Sankei Building (29.85%).

SMFG To Acquire Aircraft Leasing Business From RBS

2012-01-18T10:45:00.003+09:00

Sumitomo Mitsui Financial Group, Inc.(SMFG), a major financial conglomerate, announced that SMFG and Sumitomo Corp, a leading trading company, have reached an agreement with The Royal Bank of Scotland Group plc (RBS) on the acquisition of RBS's aircraft business, subject to regulatory approval and clearance. RBS was the fourth largest air-leasing player in the world.

Toyota Tsusho To Tender Offer Electronics Trading Company

2012-01-17T14:44:00.002+09:00

Elematec Co., a listed electronics trading company, announced that Elematec approved a tender offer by Toyota Tsusho Co., a trading unit of Toyota Group. The TOB price is at 1,540 yen, a 44.1% premium over a 3 month average. As Toyota Tsusho limits the maximum number of shares to be purchased to 51.0% of Elematec's shares, it does not plan to delist Elematec.

PE-backed Call Center Operator To Spin Off Its Medical Division

2012-01-16T13:15:00.002+09:00

Bellsystem 24 Co., a leading call-center operator, will spin off the CRO-related medical division into a separate company in March, according to the Nikkei. Bellsystem 24 will focus on the marketing and customer service solution business. Bellsystem 24 was acquired by Bain Capital, a US-based private equity firm, in November 2009.

Machine Tool Orders Up 17.4% In Dec.

2012-01-13T11:51:00.002+09:00

The Japan Machine Tool Builders Association released that machine tool orders rose for the 25th straight month in December, increasing 17.4% on the year. Domestic demand was up 12.2% while foreign demand was up 19.9%. For all of 2011, they reached 1.32 trillion yen, up 35.5% from a year earlier. It is the first time in the last 3 years to top 1.3 trillion.

Asahi Kasei To Acquire VC-backed Crystal IS

2012-01-12T08:39:00.003+09:00

Asahi Kasei Co., a chemical-based conglomerate, announced that it signed a share purchase agreement with Crystal IS, Inc., a US-based venture focused on the development of ultraviolet light emitting diodes (UV LEDs). Asahi Kasei has acquired all shares of CIS, making it a wholly owned subsidiary. CIS received venture funding in 2004 and 2006 from ARCH Venture Partners, Lux Capital, the Credit Suisse/New York State Common Retirement Fund and Harris & Harris Group.

Adecco To Acquire PE-backed Staffing Agency

2012-01-04T10:22:00.004+09:00

Adecco Group, a global HR solution provider, announced that it has reached a share transfer agreement to acquire a 100% share of VSN Co., a manufacturing-oriented staffing agency, for about 9.1 billion yen. VSN went private in August 2010 via MBO with SBI Capital, an investment unit of the financial conglomerate formed by SBI group and Ant Global Partners, a mid-sized private equity firm.

J Trust To Be New Sponsor Of Failed Takefuji

2011-12-30T11:09:00.006+09:00

Takefuji Corp., a failed consumer loan company, announced that it made a new sponsorship agreement with J Trust Co., Ltd., a listed consumer lender. Korean financial institution A&P Financial Co., Ltd., once the sponsor of Takefuji, failed to meet the obligations under the sponsorship agreement. US buyout shop TPG Group was a the next best candidate after J Trust. Takefuji went bankrupt in September 2010.

Unizon Capital To Acquire Asahi Tec Via Tender Offer

2011-12-29T12:14:00.004+09:00

Unizon Capital Inc., a major private equity firm, announced that Unizon Capital, through its fund and investment vehicle, made a two-step tender offer for Asahi Tec Co., an auto-based components manufacturer. The first TOB price is set at 27 yen, a 17.39% premium over a 3 month average, for the major shareholders, Ripplewood Holdings Japan (RHJ) International and Tokyo Marine & Nichido Fire Insurance Co. They agreed to the offer. Later, the second TOB price was set at 33 yen, a 43.48% premium over a 3 month average, for general shareholders. RHJ International started to invest in May 2003.

Wise Partner To Exit Investment In Bath Salt Maker

2011-12-28T10:56:00.006+09:00

Earth Chemical Co., a listed major manufacturer in home-use insecticides, announced it has reached a share transfer agreement with Wise Partners, a mid-market private equity firm, to acquire a 80% share of Bathclin Corp., one of the major bath salt makers, for about 15 billion yen in order to increase its market share. Earth Chemicals, belonging to Otsuka Pharmaceutical Group, is also a major player in the bath salt market. Bathclin was divested from Tsumura Group, a Kanpo-based medicine manufacturer, with Wise Partners in August 2008.

Kyocera To Acquire PE-backed LCD Manufacturer

2011-12-27T15:30:00.006+09:00

Kyocera Corp., a major comprehensive ceramics manufacturer, announced that it has completed a share transfer agreement with Japan Industrial Partners (JIP), Inc., a mid-sized private equity firm, to acquire all shares of Optrex Corp., a specialized manufacturer of liquid crystal displays and related products, in order to further strengthen and expand its LCD and touchscreen panel business. JIP purchased all shares of Optrex from Asahi Glass Co., Ltd. and Mitsubishi Electric Corp. in February 2008 because Optrex has been a joint venture of both companies.

LaSalle Logistics Fund To Exit Most Investment To GLP and CIC

2011-12-21T12:40:00.006+09:00

LaSalle Investment Management Inc., a global real-estate investment firm, announced that LaSalle has sold almost all the assets of Japan Logistics Fund 1 to Global Logistics Properties (GLP), a Singapore-listed logistics specialist. GLP and China Investment Corp. (CIC), a sovereign wealth fund, purchased 15 logistics warehouses for $1.6 billion from the fund. The fund was launched in 2004 and targets Japanese logistics properties for international investors. LaSalle still manages Japan Logistics Fund 2, which was raised in 2008.

Cram School To Go Private Via MBO

2011-12-21T09:44:00.002+09:00

WAO Co., a major cram school operator, announced that WAO has approved a tender offer from an investment vehicle set up by its founding CEO, Akio Nishizawa. The founding family holds a 53.55% share. The TOB price is 245 yen, a 102.5% premium over a 3-month average. Mizuho Bank, Bank of Tokyo Mitsubishi-UFJ, Risona Bank and Sumitomo Trust Bank are ready to provide up to 6.2 billion yen in financing.

HORIPRO To Go Private Via MBO

2011-12-19T14:12:00.003+09:00

HORIPRO Inc., a listed major talent agency, announced that HORIPRO approved a tender offer from an investment vehicle set up by its founding family, the Horis. The TOB price is at 1,050 yen, a 61% premium over a 3-month average. Mitsui Sumitomo Bank is ready to provide up to 8.45 billion yen in financing. HORIPRO will be delisted upon the successful outcome of the deal.

FUJIFILM To Acquire SonoSite via Tender Offer

2011-12-16T09:54:00.005+09:00

FUJIFILM Holdings Co., a diversified technology company operating in healthcare, highly functional material and document solutions, announced that Fujifilm reached an agreement with SonoSite Inc., a pioneer and leader in bedside and point of care ultrasound technology, pursuant to Fujifilm's acquisition of SonoSite for $995 million. Fujifilm will make an all-cash tender offer to purchase all outstanding shares of SonoSite common stock for $54 per share in cash. The TOB price is a 50% premium over its 3-month average.

Meiji Yasuda Life To Tender Offer For Polish Insurance Company

2011-12-15T16:42:00.002+09:00

Meiji Yasuda Life Company, one of Japan's major life insurance companies, announced that Meiji Yasuda and Talanx AG, the third largest Germany insurance group, will make a tender offer for Europa Group, an insurance unit of Getin Holding, the foremost private financial group in Poland. Meiji Yasuda and Talanx agreed on a strategic cooperation consisting of capital and business alliances about a year ago. They will continue to cultivate markets in developing countries together.

Machine Tool Orders Up 15.9% in Nov

2011-12-13T10:05:00.002+09:00

The Japan Machine Tool Builders Association released that machine tool orders rose for the 24th straight month in November, increasing 15.9% on the year. Domestic demand was up 22% while foreign demand was up 13% mainly because of the flooding in Thailand which severely hurt Japanese manufactures.

UPGARAGE To Go Private via MBO

2011-12-06T09:54:00.003+09:00

UPGARAGE Co., a used car/bike parts shop chain operator, announced that UPGARAGE has approved a tender offer from an investment vehicle set up by Makoto Ishida, the CEO of UPGARAGE. The TOB price is 50,000 yen, a 34% premium over its 3 month average. Mitsui Sumitomo Bank is ready to provide up to 1.3 billion yen in financing. The FC operator will be delisted upon the successful outcome of the deal.

Nikko Asset To Postpone IPO

2011-12-05T10:49:00.002+09:00

Nikko Asset Management Co., Ltd., a Tokyo-based asset management company, announced that Nikko Asset has decided to postpone its pending public offering due to current stock market conditions and other factors. Nikko Asset is scheduled to be listed on the 15th of December.

Secured Capital To Invest In Real Estate With Aviva

2011-12-01T15:52:00.002+09:00

Secured Capital, a real estate unit of PAG, one of the region's largest Asian-focused alternative investment managers, will set up a fund with Aviva plc. to invest mainly in commercial buildings located in the Tokyo area. Aviva is the world's sixth largest insurance group, according to The Nikkei. They have fund raised about $120 million from European investors so far and plan to raise up to $250 million by next spring. With leverages from banks, they are considering investing a total of $500 million in Japanese real estate.

Polaris To Invest In Transportation Company

2011-11-30T09:29:00.002+09:00

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

2011-11-28T15:04:00.005+09:00

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

2011-11-25T15:58:00.001+09:00

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

2011-11-22T11:50:00.001+09:00

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

2011-11-21T12:47:00.002+09:00

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

2011-11-16T17:38:00.000+09:00

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

2011-11-14T15:03:00.004+09:00

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

2011-11-11T15:56:00.002+09:00

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

2011-11-10T10:07:00.001+09:00

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

2011-11-07T09:41:00.001+09:00

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

2011-11-04T09:40:00.000+09:00

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

2011-11-01T09:55:00.002+09:00

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.

Loan Star To Exit Stake In Golf-course Operator

2011-10-27T17:47:00.002+09:00

PGM Holdings K.K., a listed major golf course operator, announced that PGM approved a tender offer by Heiwa Corp., a listed manufacturer of amusement machines. The TOB price is set at 52,000 yen, a 30.31% premium over a 3 month average. Its largest shareholder, Lone Star Fund, ageed to sell its entire stake(61%) in PGM. The US investment fund took it public in 2005.

Yamato Material To Go Private Via MBO

2011-10-25T09:47:00.000+09:00

Yamato Material Co., Ltd., a listed supplier of a wide variety of containers and materials, announced that Yamato approved a tender offer by an investment vehicle set up by the CEO and other founding family members. The TOB price is set at 585 yen, a 41.62% premium over a 3-month average. Mizuho Bank is ready to provide up to about 2.4 billion yen in financing. Yamato will be delisted upon the successful outcome of the deal.

Nomura To Sell Stake In Skylark To Bain Capital

2011-10-24T09:55:00.001+09:00

Nomura Holding. Inc., an one of major securities group in Japan, announced that Nomura Principal Finance Co., Ltd., an investment unit of Nomura group, and NPF-Harmony, a subsidiary of Nomura Principal, have agreed with Bain Capital Partners, a global buyout shop, to sell their entire stake in Skylark Co., Ltd., a family-restaurant chain operator. Nomura plans to sell 77.76 % of Skylark's outstanding common shares for 100 billion yen and its entire holdings of preferred shares for 28 billion yen. Skylark was delisted via MBO with Nomura in 2006.

Stockholding Ratio At Corp Pension Funds Hits Record Low

2011-10-21T11:08:00.002+09:00

The ratio of Japanese stocks held by major domestic corporate pension funds stood at a record low 16.8% at the end of August, less than half the December 1999 peak of 36.6%, accordinf to the Nikkei. Since the combined ratio for domestic bonds and general-account assets with guaranteed interest rates increased 1.5% to a record high 49%, many pension funds appear to have shifted their assets to the relatively stable bond market to escape falling share prices at home and abroad.

Major Ad. Company To Launch Tender Offer For Outsourcing Company

2011-10-12T10:10:00.001+09:00

Hakuhodo Inc., a listed major advertising company, announced that the ad. agency will launch a tender offer for shares of Backs Group Inc., a listed retail-oriented outsourcing company. The TOB price is set at 2,500 yen, a 49.53% premium over a 3 month average. The CEO(the largest shareholder) and his group approved the offer. Hakuhodo will beef up the marketing solution business through this acquisition.

PE-backed Real Estate AM To Delist via Tender Offer

2011-10-10T17:27:00.002+09:00

MK Capital Management Co., a listed Unison-backed real estate asset management company, announced that MK Capital approved the tender offer from an investment vechile by Unison Capital group, a major private equity firm. The TOB price is set at 35,000 yen, a 68% premium over a 3 moth average. MK will be delisted upon the successful conclusion of this deal. Unison Capital group previously made a tender offer in Feburary 2010 and became the largest shareholder(61.3%).

Software Developer To Acquire Fukuoka-based Peer

2011-10-07T13:59:00.003+09:00

Mamezou OS Holdings Co., Ltd., a listed software developer, announced Mamezou will make a tender offer for shares of JM Technology Inc., a Fukuoka-based technology solution company. JM Technology approved the offer. The TOB price is set at 70,000 yen, a 127.56% premium over a 3 month average. Mamezou will expand the business area geographically as well as get into the semiconductor business through this transaction. JM Technology provides semiconductor engineering services and FA solution services in addition to the software development.

Hitachi Group To Acquire South African Data Center Provider

2011-10-06T13:17:00.006+09:00

Hitachi Ltd, a leading global electrical company, announced that its wholly owned subsidary, Hitachi Data System Co. acquire Shoden Date Systems, a leading provider of date center technology solutions in South Africa and across the sub-Saharan African continent. The California-based IT solution provider will be able to serve its growing customer base throughout the region better with Shoden.

Sumitomo Mitsui Bank To Tender Offer For Promise

2011-10-03T12:30:00.005+09:00

Sumitomo Mitsui Finanacial Group, Inc. (SMFG), one of the major banking groups, announced that Sumitomo Mitsui Banking Corporation (SMBC), SMFG's banking unit, made a tender offer for shares of Promise Co., Ltd., a listed consumer loan company, and subscribed the shares issued by Promise through a Third-Party Allotment. The tender offer price is set at 780 yen, a 29.6% premium over a 3-month average. As SMBC is the largest shareholder (21%) in Promise, SMFG will make Promise a wholly-owned subsidiary through these transactions.

JPMorgan Fund To Acquire Shares In Nippon Gas

2011-09-30T09:43:00.004+09:00

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

2011-09-28T17:43:00.005+09:00

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

2011-09-27T09:18:00.005+09:00

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

2011-09-26T09:23:00.004+09:00

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

2011-09-23T09:57:00.002+09:00

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

2011-09-21T13:33:00.001+09:00

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

2011-09-19T11:38:00.003+09:00

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

2011-09-16T10:30:00.003+09:00

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

2011-09-14T09:44:00.003+09:00

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

2011-09-08T08:29:00.003+09:00

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

2011-09-05T09:36:00.003+09:00

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

2011-09-02T09:13:00.004+09:00

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

2011-09-01T09:09:00.003+09:00

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.

2 Real Estate Group Companies To Go Private via MBO

2011-08-31T09:57:00.005+09:00

Tachihi Enterprise Co., Ltd., a listed Tokyo-based real estate developer, and New Tachikawa Aircraft Co., Ltd., a listed airplane-parts maker as well as real estate leasing company, announced that both companies have accepted the tender offers from a private firm set up by the CEOs of both companies. They have had cross-shareholdings since New Tachikawa was spun off from Tachihi in 1949. The TOB price for Tachihi is set at 6,300 yen, a 36.67% premium over its 3 month average. The TOB price for New Tachikawa Aircraft is set at 5,200 yen, a 67.21% premium over its 3 month average. Other major shareholders have agreed to tender their shares. Mizuho Bank is ready to provide up to about 83 billion yen in financing.

ETIC To Invest In Troubled Mold Maker

2011-08-26T10:00:00.003+09:00

ARRK Co., a listed holding company of DIE & Mold Engineering Co. Ltd., announced that Enterprise Turnaround Initiative Corp of Japan (ETIC), underwrote 150,000,000 common shares issed by ARRK for 9 billion yen. ETIC will be the largest shareholder. As Mizuho Bank and the Bank of Tokyo-Mitsubishi UFJ accepted the debt-equity swap, ARRK will reduce its debt by 20 billion yen. The company, once an aggressive buyer of its competitors, became financially troubled with the decreasing sales and is now under a restructuring process.

Social Game Developer To Go Public For The First Time

2011-08-24T10:31:00.004+09:00

KLab Inc., a leading social game developer, announced that KLab will be listed on the Tokyo Stock Exchange on the 27th of September. SBI Group, a financial conglomerate, has invested in this company. It is the first time a social game developer will be listed on the stock exchange in Japan. KLab was founded in August 2000.

Osaka Port Development To Go Private

2011-08-23T09:45:00.002+09:00

Osakakoshinko Co., Ltd., a listed Osaka-based port and building management company, announced that Osakakoshinko approved a tender offer by Tasumi Shokai Co., Ltd., a private Osaka-based logistics company. The TOB price is set at 2,650 yen, a 37.7% premium over its 3 month average. Tatsumi Shokai is the largest shareholder of Osakakoshinko. Osakakoshinko will be delisted upon the successful conclusion of the deal.

Mitsubishi Corp To Tender Offer For Food Container Maker

2011-08-22T10:40:00.004+09:00

Mitsubishi Corporation, a leading trading company, announced that Mitsubishi will conduct a tender offer for shares of Chuo Kagaku Co., Ltd., a listed major manufacturer of plastic food containers. The TOB price is set at 386 yen, a 2.4% premium over its 3 month average. The major shareholders in Chuo Kagaku agreed to tender their shares. Chuo Kagaku will cultivate a fast-growing market in China with support from Mitsubishi and completely get rid of its non-core businesses like its golf-course development. Mitsubishi plans to convert the food container maker into a consolidated subsidiary through this deal.

Ex-Sanwa GCM Bids For Failed Incubator Bank

2011-08-19T10:05:00.002+09:00

GCM Ltd., a Tokyo-based investment bank set up by former Sanwa bankers with a Chinese investment fund, is in the bidding process for the bankrupt Incubator Bank of Japan. Another competitor is AEON Bank, the banking unit of AEON Group, a major retailing group. The auction conductor, Deposit Insurance Corp. of Japan, will select a sponsor by September. The SME-targeted Incubator Bank of Japan filed for Chapter 11 last September.

Murata Machinery To Launch Tender Offer For silex technology

2011-08-18T08:42:00.002+09:00

Murata Machinery Ltd., a private machine tool manufacturer, announced that it has launched a tender offer for Silex Technology Inc., a listed network-related solution provider. The TOB price is set at 58,000 yen, a 72% premium over its 3-month average. Silex approved the offer. Murata Machinery, using Silex's wireless technology, plans to develop the FA system, aiming for higher productivity.

INCJ To Establish Japanese Contents Exporter

2011-08-16T09:58:00.005+09:00

INCJ, a public-private investment fund, announced that INCJ set up the new company "All Nippon Entertainment Works Co., Ltd." which will remake Japanese stories, characters, etc. and undertake planning and development activities targeting the global market. INCJ has decided to make a 6 billion yen investment. The new company will work with "Collaboration Partners" like an advertising agency, film/cartoon makers, TV broadcasters, toy makers, and trading companies.

Unified Partners To Exit Investment In Home Builder

2011-08-15T09:33:00.002+09:00

Yamada Denki Co. Ltd., a leading volume home appliance retailer, announced that Yamada will launch a tender offer for SXL Co. Ktd., a PE-backed custom home builder. The TOB price is set at 65 yen, the same as its 3 month average. Yamada plans to keep SXL listed on the exchange. Unified Partners, one of the investment units of Nomura Securities Group, made an investment in 2005 and decided to tender their shares in this offer.

CAS Capital To Exit Investment In Restaurant Chain Operator

2011-08-12T09:58:00.006+09:00

H2O Retailing Co., a holding company of Hankyu Hanshin Department Stores Group, announced that H2O will conduct a tender offer for Kazokutei Co., Ltd., a PE-backed Japanese food restaurant chain operator. The TOB price is set at 750 yen, a 45% premium over its 3-month average. CAS Capital, a Tokyo-based midsized private equity firm, made an investment in 2007 and became the largest shareholder (57.1%). CAS Capital approved the offer. H2O plans to strengthen its food business through this acquisition.

PE-backed Materials Maker To Sell Its Wafer Business

2011-08-11T10:09:00.003+09:00

Covalent Materials Co., a leading-edge materials maker, announced that Covalent and Sino-American Silicon Products Inc., a major Taiwanese silicon wafer maker, have agreed to transfer Covalent's silicon wafer business to Sino-American Silicon Products. Covalent will concentrate its resoures on its ceramic business. Covalent, formerly Toshiba Ceramics, went private via MBO with The Carlyle Group, a global mega buyout shop, and Unison Capital, a major Japnese buyout shop, in 2006.

Arrow Electronics To Launch Tender Offer For Chip One Stop

2011-08-10T10:39:00.007+09:00

Arrow Electronics, Inc. announced that Arrow will launch a tender offer to acquire all of the common stock of Japan-based Chip One Stop, a provider of shopping sites for electronic components and semiconductors for a purchase price of 220,000 yen per share. The TOB price has a 204% premium over its 3-month average. Arrow is a NY-based global distributer of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Through this acquisition, Arrow can expand its presence in Japan as well as strengthen its e-commerce capabilities.

Higashiyama Film To Go Private With CITIC Japan

2011-08-09T10:46:00.003+09:00

Higashiyama Film Co., a Nagoya-based special film maker, announced that Higashiyama Film accepted a tender offer from an investment vehicle set up by CITIC Capital Partners Japan., a Japan-focused private equity firm of CITIC Capital Group. The TOB price is set at 970 yen, a 29.2% premium over its 3-month average. The investment vehicle made a tender offer last May and became the largest shareholder (63.12%). Higashiyama Film will be delisted upon the successful conclusion of the deal.

Nichii Gakkan To Tender Offer For English School Operator

2011-08-08T13:36:00.003+09:00

Nichii Gakkan Co., a broad-range service provider in medical support & health care, announced that Nichii Gakkan made a tender offer for GABA, a listed English language school operator, at 2.000 yen, a 77.1 % premium over a 3-month average. GABA approved the tender offer. The Bank of Tokyo Mitsubishi-UFJ is ready to provide up to 10.1 billion yen in financing. Nichii Gakkan plans to expand its education business in English and IT in addition to medical sectors and utilize GABA's e-learning systems through this acquisition.

Nagase & Co. To Sponsor Failed Food Ingredient Maker

2011-08-05T09:17:00.002+09:00

Nagase & Co., a listed chemicals-focused trading company, announced that Nagase will sponsor bankrupt Hayashibara Co., an Okayama-based biochemical maker. Nagase won through the bidding process. Other competitiors were CJ Group with Unison Capital, Gun Ei Chemical Industry Co. with Polaris Capital, and JT alone.

MASPRO To Go Private Via MBO

2011-08-04T19:58:00.004+09:00

MASPRO DENKO Co., a major TV reception-related equipment manufacturer, announced that it has accepted a tender offer from an investment vehicle set up by the current CEO of MASPRO. The TOB price is at 1070 yen, a 65.1% premium over its 3 month average. Mitsui Sumitomo Bank is ready to provide up to 20.3 billion yen in financing.

Nihon Unisys To Collaborate With PE-backed Software maker

2011-08-03T09:25:00.004+09:00

Nihon Unisys, Ltd. a listed system integrator, announced that Nihon Unisys will start a business collaboration with Works Application Co., Ltd., an ERP-focused package software developer and maintenance provider. Works Application went private via MBO with Polaris Capital, a midsized buyout shop, and Karita &Co., a Tokyo-based private equity firm this February. Nihon Unisys will sell products of Works to Unisys's customers and vice versa since they are complementary in their customer bases.

KDDI Group Bot VC-backed Ad Agency Start-up

2011-08-02T13:51:00.004+09:00

mediba Inc., a KDDI-affiliated mobile services provider, announced that it has acquired Nobot Inc., a smartphone-focused ad agency. Nobot was founded in April 2009 and has rereceived investments from Samurai Incubate Inc., ngi group, JAFCO and Nissay Capital.

Hony Capital To Invest In Hotel Chain Operator In Japan

2011-08-01T13:09:00.004+09:00

Tokai Kanko Co., a listed medium-sized hotel chain operator, announced that Tokai Kanko will allocate new shares to Hony Capital, a China-based private equity firm, for about 1.4 billion yen and set up a SPC with Hony to invest in hotels. Hony will pay 2.7 billion yen for a 40% stake of the SPC. It plans to acquire a hotel located in Osaka from Aetos Japan., a Japan-focused US property fund.

Phoenix Capital To Sponsor Failed Regional Dept Store Operator

2011-08-01T10:02:00.001+09:00

Phoenix Capital, a turnaround-focused private equity firm, announced that Phoenix has signed a sponsorship agreement with Nakasan Co. Ltd., a bankrupt Tohoku-based department store operator. Nakasan filed for court protection with debts of 11. 4 billion yen this March. Phoenix starts to make a revitalization plan with Nakasan to acquire its approval from the court.

Mitsui To Do LBO Loans In US With GE Capital

2011-07-29T10:52:00.004+09:00

Mitsui & Co. Ltd., a major trading house, announced that Mitsui will provide LBO loans to US companies with help from GE Capital, who made a strategic agreement with Mitsui in November 2010. Mitsui plans to make a portfolio consisting of 20 companies' loans with a total of about US$ 200 million this year. With its investment expertise, the major trading company will also consider managing money for institutional investors in the future.

SMFG To Set Up Funds For Growing Companies

2011-07-28T08:57:00.002+09:00

SMBC Venture Capital., an investment unit of SMFG Group, announced that SMBC Venture Capital set up 3 private equity funds for a total of 14 billion yen. They are SMBC Venture Capital Fund #1 (8 billion yen) which is an orthodox VC fund, SMBC Business Development Fund #1 (5 billion yen) which is a buyout fund for SMEs, and SMBC Strategic Investment Fund #1 (1 billion yen) which invests in funds newly set up by universities or corporations. All investment money comes from Mitsui Sumitomo Bank.

INCJ To Invest US$680 Mil In Landis+Gyr

2011-07-26T09:52:00.003+09:00

Innovation Network Corporation of Japan (INCJ), a unique public-private investment fund, announced that INCJ will invest in Landis+Gyr AG, a global leader in energy management solutions for utilities, with Toshiba Co., a major comprehensive electrical manufacturer. Toshiba will establish a SPV in Switzerland as a vehicle for the acquisition of Landis+Gyr, capitalized at US $1700 million. INCJ will invest US $680 million in the SPV and secure 40% of its equity as a strategic investment partner.

PE-backed Intelligence To Buy HK Consulting Group

2011-07-25T16:27:00.003+09:00

Intelligence LTD., KKR-backed staffing agency, announced that Intelligence acquired Staffing Consultancy Ltd. and its group company, which provide human resource services in HK and mainland China. Intelligence's Chinese operations currently focuses on staffing services. With this acquisition, they will be able to provide comprehensive HR services. The US giant buyout shop KKR acquired Intelligence for $356 million in June 2010. Since then KKR has supported its efforts to cultivate international labor markets.

DRC To Tender Offer For Kojitsu

2011-07-22T09:48:00.003+09:00

DRC Capital Ltd., a Tokyo-based midsized buyout firm, announced that DRC will make a tender offer for Kojitsu Co., Ltd., a climbing goods store operator. The TOB price is set at 130 yen, a 35.4% premium over a 3 month average. DRC is the second largest shareholder (17%). Japan Fine Art Co., the laregest shareholder (28%), accepted the offer. The deal size maximum consideration is about 3.14 billion yen.

Kawaijuku Group To Tender Offer for Mainichi Comnet

2011-07-19T13:48:00.003+09:00

KJ Holding Co., a holding company of Kawaijuku Education Institution Group, announced that KJ will make a tender offer for Mainichi Comnet Co., Ltd., a student-focused real estate service provider. The TOB price is set at 405 yen, a 27% premium over 3 month average. Mainichi Comnet plans to broaden its customer base, with help from Kawaijuku who provides educational services to teenage students.

Mitsui To Tender Offer For Singpore Port Operator

2011-07-14T10:03:00.006+09:00

Mitsui & Co., Ltd., a major trading house, announced that it will conduct a tender offer for Portek International Limited, a SGX-listed port operator. The founding family of Portek, the largest shareholder, accepted the offer. The TOB price is set at S$1.40, a 50.5% premium over a 3 month average. The estimated deal size is S$221 million at a maximum of US$180 million. Portek is a turnkey provider of equipment, services, and solutions for the port industry globally as well as an operator of medium sized container and multipurpose ports. Through this acquisition, Mitsui plans to improve and increase the productivity and efficiency of its logistic operations around the world.

Mitsubishi Corp and China's Creat Group to Set Up JV Funds

2011-07-12T14:06:00.007+09:00

Mitsubishi Corp. and China's Creat Group Co. will establish a 50-50 joint venture, MC Creat Fund Management, in Hong Kong to set up funds that will provide capital to Japanese companies aiming to expand their business in China.

The first JPY 10 billion fund will target (i) midsize Japanese companies with strong technologies or brands, but need financial and operational support to tap into the Chinese market. The fund will also invest in (ii) joint ventures between Japanese and Chinese firms and (iii) Chinese companies with the potential to become strategic partners of Japanese companies.

Mitsubishi is establishing a 100% subsidiary, Kizuna Partners, which will source Japanese companies for investments.

Govt Pension Performance Sank To Minus 0.25% in 2010

2011-07-12T10:17:00.002+09:00

The Government Pension Investment Fund (GPIF) reported its yield from fiscal 2010 sank to minus 0.25%, a sharp deterioration from the positive 7.91% of the year before. GPIF blamed the weak performance on the falling value of foreign bonds and domestic stocks as a result of the yen's prolonged strength and the March 11 earthquake. The GPIF's assets under management were 116 trillion yen at the end of fiscal 2010.

GOTO To Delist via MBO

2011-07-11T15:50:00.005+09:00

GOTO Co., Ltd. a Shizuoka-based roadside chain store operator, announced that it will accept a tender offer from an investment vehicle set up by the current CEO of GOTO. The TOB price is at 395 yen, a 80% premium over a 3 month average. Shizuoka Bank is ready to provide up to 2.5 billion yen in financing. GOTO will be delisted upon the successful conclusion of the deal.

Nippon Life To Invest In Allianz via Convertible Sub. Notes

2011-07-06T10:12:00.001+09:00

Nippon Life Insurance Company, the Japanese largest insurer, announced that it will purchase 30-year convertible subordinated notes issued by Allianz Financial Ⅱ B.V., a finance subsidiary wholly owned by Allianz SE, one of the leading integrated financial services provider worldwide. The notes are guaranteed by Allianz and the investment amount well be EUR 500 million.

Asahi Breweries To Tender Offer For NZ beverage Maker

2011-07-05T15:09:00.001+09:00

Asahi Group Holding., formerly known as Asahi Breweries Ltd., announced that it will conduct a tender offer for Charlie's Group Ltd., a manufacturer and marketer for premium beverage brands in New Zealand. Charlie's board of directors has recommended that shareholders accept the offer. The TOB price is NZ$ 0.44 per share, a 54% premium to the 3-month VWAP. The acquisition of Charlie's will further strengthen Asahi's overseas beverages business and provide an entry into the New Zealand market.

Industrial Output Rises 5.7% In May

2011-06-29T10:35:00.003+09:00

The Ministry of Economy, Trade and Industry announced that the industrial production index in May increased 5.7% from the previous month, showing a gain for the second consecutive month. It showed a decrease of 5.9% form the previous year. The ministry also mentioned that industrial output is on a recovery trend. It said last month that output appeared sluggish at low level due to the earthquake.

Sumitomo Metals To Acquire Standard Steel in US

2011-06-28T13:11:00.004+09:00

Sumitomo Metals Industries, Ltd., a major integrated steelmaker, and Sumitomo Corporation, a major trading company, announced that they have agreed to acquire Steel Wheel Corporation, the parent company of Standard Steel , Inc. in the US. Sumitomo Metals will purchase 90% of the holding company's shares while Simitomo Corp will buy the rest. Standard Steel is one of North America's leading manufactures of railway wheels and axles with a history of over 200 years. Through this acquisition, Sumitomo Metals with its core domestic manufacturing bases will enhance its global competitiveness in the manufacture and sale of railway wheels.

Megabanks Boosted Overseas Lending For 1st Time In 2 yrs

2011-06-27T14:06:00.001+09:00

Overseas loans by the nation's three megabanks grew for the first time in the two and half years to about 35 trillion yen as of March 31, driven by increased lending in emerging nations in Asia and Latin America, according to Nikkei. There has been strong funding demand for infrastructure construction and natural resource development in emerging nations while there has been sluggish one at Japanese corporations.

Japan-Stock Ownership By Financial Firms Slips Below 30%

2011-06-21T09:53:00.002+09:00

Japanese shares held by financial institutions accounted for less than 30% of the total value in fiscal 2010, according to Nikkei. Financial institutions such as banks and life insurers held 29.7% of shares listed on the Tokyo Stock Exchange. While retail investors' ownership remained flat over many years at about 20%, foreign ownership has been increasing year by year to 26.7%.

Dept Store Sales Down 2.4% in May

2011-06-20T10:24:00.002+09:00

The Japan Department Stores Association announced that nationwide department store sales fell 2.4% on the year to 482 billion yen. The monthly loss was the third in a row. Although sales generally recovered as consumers regained an appetite to spend after the Great East Japan Earthquake, there were still a lack of demand for luxury items as well as bad weather, which depressed spending.

VC-Backed High Technology Company To Go Publc

2011-06-16T10:32:00.004+09:00

Morpho, Inc., an image processing technology-oriented servicer, announced that its common shares have been approved for lisitng on The Tokyo Stock Exchange (TSE) and are expected to begin trading on the TSE Mothers section on the 23rd of July. Morpho was founded in May 2004 with the full support of The University of Tokyo Edge Capital (UTEC). UTEC is an early stage technology focused venture capital firm associated with The University of Tokyo. Morpho is the second investee going public following tella, Inc. for UTEC.

Core Machinery Orders Decline 3.3% in April

2011-06-15T10:00:00.003+09:00

The Economic and Social Research Institute, a research unit of the Cabinet Office, announced that private-sector machinery orders, excluding volatile ones for ships and those from electric power companies, decreased a seasonally adjusted 3.3 % in April. The average forecast was around a 1.2% gain. Some economists mentioned that the decline was largely in reaction to gains over the past few months and doesn't represent to a downward trend. The total vale of machinery orders rose by 3.1% in April from the previous month on a seasonally adjusted basis.

KDDI To Tender Offer For Elec. Money Servicer

2011-06-13T09:25:00.002+09:00

KDDI Corp., a major telecom company, announced that it will conduct a tender offer for WebMoney Corp., a Jasdaq-listed electric money service provider. WebMoney's board of directors and its largest shareholder, Faith Inc. approved the offer. The TOB price is 327,000 yen, a 38.87% premium over its 3-motnh average. KDDI plans to strengthen its financial services through the takeover.