PE-backed LCD Maker To Go Public

Tokyo Stock Exchange announced that shares of Avanstrate Inc., a LCD glass manufacturer, will be listed on the exchange on the 24th of April. The Carlyle Group, a global mega buyout firm, invested in the firm in June 2008 and is the largest equity holder (50.64%). Hoya Corp., an optical technology-oriented manufacturer, is the second largest equity holder (45.67%). Carlyle once tried to make it go public last April but the plan was cancelled after the March 11 Earthquake.

Sony To Divest Chemical Unit To DBJ

Sony Corp., an electronics conglomerate, announced that Sony will sell its chemical unit, Sony Chemical & Information Device Corp. (SCID) to Development Bank of Japan Inc (DBJ)., a state-owned investment bank. SCID has about 3,000 employees and operations in Japan, US, Europe, and China. It reported sales of 111 billion yen last year. This sale is the latest move by Sony, which is focusing on realignment as a key initiative of its business portfolio.

INCJ To Invest In UK Wind Farm Operator

Innovation Network of Corporation Japan (INCJ)., a public-private investment fund, announced that Marubeni Co., a major trading house, and INCJ acquired Seajacks International Ltd, a UK-based offshore wind power service provider, from Riverstone Holding LLC., an energy-focused private equity firm. The Japanese trading house and the public-private fund will each obtain a 50% stake in the UK firm.

Venture Republic To Go Private via MBO

Venture Republic Inc., an internet commerce supporting company, announced that Venture Republic approved a tender offer from an investment vehicle by Kei Shibata, the CEO of Venture Republic. The TOB price is set at 1,100 yen, a 37.3% premium over a 3-month average. The largest shareholder Lawson Co., a major convenience store operator, agreed to the offer. The Bank of Tokyo-Mitsubishi UFJ is ready to provide up to 2.2 billion yen in financing. Venture Republic will be delisted upon the successful outcome of this deal. The company went public in August 2008.

NEC Tokin To Ally With KEMET

NEC Tokin Co., a leading manufacturer of tantalum capacitors, announced that NEC Tokin agreed to form a capital and business alliance with KEMET Co., a US-based manufacturer of capacitors, as part of efforts to strengthen its financial base, increase sales, and reduce costs in areas such as procurement and production. KEMET is also given the option to subscribe to future capital increases of NEC Tokin or acquire its shares held by NEC Corporation, its parent company. NEC expects to post a consolidated net loss of 100 billion yen in the current business year ending March 31, due to massive flooding in Thailand and sluggish mobile phone operations.

Japan Industrial Solutions Fund To Invest In Sumco

Japan Industrial Solutions Co. Ltd., a turnaround-flavored private equity firm, announced that JIS Fund 1 will acquire new shares issued by Sumco Co., a silicon wafer maker. Sumco, originally a joint venture between Sumitomo Metal and Mitsubishi Materials, has marked its third straight year in the red. Japan Industrial Solutions, which was set up by Development Bank of Japan and Japanese mega banks etc, has so far invested in Joban Kosan Co., a Fukushima-based resort facilities operator, which was battered heavily by the earthquake. This time JIS will play a major role in ensuring that Sumco carries out its restructuring plan.

Family Mart To Acquire PE-backed Food Service Operator

Family Mart Co., Ltd., a major convenience store operator, announced that Family Mart will acquire Senior Life Create Co., Ltd., an elderly-focused meal service provider. They will purchase a 81.6% share of the firm from a buyout fund and other VCs. The major shareholder Basic Capital Management, a Tokyo-based midsized private equity firm, invested in June 2006. Family Mart will increase its base of service lineups in the nationwide convenience stores with this acquisition.

Longreach To Exit Investment In Logistics Company

Mitsui-Soko Co., Ltd., a major warehousing company, announced that Mitsui-Soko will acquire all outstanding shares of Sanyo Electric Logistics Co., Ltd., a PE-backed logistics company, from The Longreach Group, a midsize private equity firm, for 24.2 billion yen. Longreach invested in May 2010.

LIFENET Insurance To Go Public

LIFENET Insurance Company, a Japanese online insurer, announced that LIFENET will list on the Tokyo Stock Exchange on the 15th of March. Monex Group, an online broker-based financial group, and venture capital companies invested in this LIFENET, which has expanded its operations rapidly through low-cost online services. It was originally founded in October 2006 by President Haruaki Deguchi, ex Nippon Life Insurance manager.

RHJ To Exit Investment In Resort Facilities

Sega Samy Holdings Inc., a pachinko-based entertainment company, annnounced that Sega Samy acquired all shares in Phoenix Resort KK from RHJ International, a private equity firm, for 400 million yen. Phoenix Resort has hotels, spas, golf courses restaurants and international conference halls in Miyazaki prefecture, located in the southern part of Japan. PHJ invested in May 2001. Sega Samy, in addition to payment for the shares, plans to lend 5.4 billion yen for the repayment of its loan.

Star Cable Network To Be Delisted Via Tender Offer

Star Cable Network, a Nagoya-based CATV operator, announced that Star Cable Network approved a tender offer from Community Network Center Inc (CNCI)., a private Nagoya-based holding company of 8 CATV operators. The TOB price is set at 79,300 yen, a 74.7% premium over its 3-month average. Star Cable will be delisted upon the successful outcome of the deal. CNCI is the third largest CATV operator behind J:Com and JCN.

Trust Banks To Go Heavy On Domestic Bonds In FY12 Pension Investing

Shifting to a defensive posture, three of the biggest trust banks will raise the domestic-bond weightings of their standard portfolio for corporate pension funds next fiscal year, according to the Nikkei. Their average Japanese bond allocation will rise to 38.5%, the highest level in a decade and more than 10 percentage points higher than the near-term low in fiscal 2007. Most of this category consists of government bonds. At the same time, trust banks will trim pension funds' exposure to equities to shield investors from the European debt crisis and other risks. The figures are for balanced portfolios managed by Sumitomo Trust, Mitsubishi UFJ Trust, Mizuho Trust and Resona Bank. The standard portfolios consist of foreign and domestic stocks and bonds. Expected returns are around 4%.

UNY To Make Its Convenience Store Private

UNY Co. Ltd., a major chain store operator for general retail services, announced that UNY make a tender offer for Circle K Sunkus Co., an UNY Group conveniece store operator. The TOB price is set at 1,780 yen, a 40% premium over a 3 month average. UNY is the lagerst shareholder(47.28%)of Circle K Sunkus, approve the offer. Circle K Sunkus will be delisted upon the successful outcome of the deal.

Kozosushi To Go Private Via Tender Offer

Kozosushi So-Honbu Co., Ltd., a nationwide franchiser of take-out sushi restaurants, announced Kozosushi approve the tender offer from an investment vehicle by Ikuo Kimura, an experienced entrepreneur. The TOB price is set at 140 yen, a 8.5% discount to a 3 month average. Kozoshushi's largest shareholder Skylark Co. Ltd., a Bain-backed family restaurants operator, agreed to the offer.

D.A. Consortium To Acquire ngi group via Tender Offer

D.A. Consortium Inc., a internet-based advertisement company, announced that DA Consortium make a tender offer for ngi group, inc., an internet business company. The TOB price is set at 324 yen, a 44% premium over a 3 month average. DA Consortium belongs to Hakuhodo Group, a major advertisement company. ngi focuses on venture capital business as well as advertisement services on internet.

Glory To Purchase Talaris Topco From Carlyle Europe

Glory Ltd., a major money handling machine manufacturer, announced that Glory acquire all of outstanding shares of Talaris Topco Ltd., PE-backed English provider of cash handling equipment and software solutions. The consideration for the acquisition is expected to be about 650 million pounds. Carlyle Europe funds invested in September 2008. Through the acquisition, Glory will accelerate the overseas business.

Takasago Engineering To Acquire Building Maintenance Firm Via Tender Offer

Takasago Thermal Engineering Co., Ltd. , a major airconditioning engineering company, announced that Takasago make a tender offer for Marusei Co., Ltd., a medium-sized building maintenance company. Marusei approved the offer. The TOB price is set at 600 yen, a 43.54 % premium over a 3 month average.

Ushio To Acquire ADTEC Engineering Via Tender offer

Ushio Inc., a light(lamp)-oriented electrical company, announced that Ushio will make a tender offer for ADTEC Engineering Co., Ltd., an exposure systems-based manufacturer. The TOB price is set at 400 yen, a 29.87% premium over a 3 month average. The founding family(its largest shareholder) of ADTEC agreed to the tender offer.

Akatsuki Financial To Tender Offer For Financial Contents Provider

Deamvisor Holdings, an internet-based financial contents provider, announced that Dreamvisor approved the tender offer from Akatsuki Financial Group, a medium-sized financial group. The TOB price is set at 36,000 yen, a 63.82% premium over a 3 month average. Akatsuki holds a securities house, a future commodity house and an asset management company,who will take advantage of Dreamvisor's service. Dreamvisor will remain on the exchange after the deal.

Orix To Acquire Major Liquor Distributor

Orix Co., a lease-oriented financial conglomerate, will buy Kawachiya Corp., a major wholesaler of beer, wine, and spirits, according to Nikkei. Orix will acquire the shares from its founding family and plans to realign the industry, which is full of small, owner-oriented distributors.