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.

Loan Star To Exit Stake In Golf-course Operator

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

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

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

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

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

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

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

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

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.