J Trust To Be New Sponsor Of Failed Takefuji

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

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

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

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

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

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

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

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

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

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

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

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

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

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.