Junko's Feed
Nov 17, 2011

Advantage, Bain, Orix in final round for Yayoi-sources

TOKYO, Nov 17 (Reuters) – Private equity firms
Advantage Partners, Bain Capital and Japanese financial company
Orix Corp have advanced to the final round of bidding
for MBK Partners planned sale of software developer Yayoi, in a
deal worth about $800 million, sources said.

If successful, MBK’s exit from Yayoi would be Japan’s
third-largest private equity deal this year after Bain Capital’s
$2 billion purchase of restaurant chain Skylark and Carlyle
Group’s purchase of ballbearing maker Tsubaki Nakashima
in March for about 66 billion yen.

Nov 17, 2011

Advantage, Bain, Orix in final round of bids for Yayoi -sources

TOKYO, Nov 17 (Reuters) – Private equity firms
Advantage Partners, Bain Capital and Japanese financial company
Orix Corp have advanced to the final round of bidding
for MBK Partners planned sale of software developer Yayoi, in a
deal worth about $800 million, sources said.

If successful, MBK’s exit from Yayoi would be Japan’s
third-largest private equity deal after Bain Capital’s $2
billion purchase of restaurant chain Skylark and Carlyle Group’s
purchase of ball bearing maker Tsubaki Nakashima in
March worth about 66 billion yen.

Nov 14, 2011

Mitsubishi Estate to invest $1.3 bln in Tokyo over 3 yrs

TOKYO, Nov 14 (Reuters) – Japan’s Mitsubishi Estate
(8802.T: Quote, Profile, Research) said on Monday it plans to sharply increase new
investments in central Tokyo outside its core district of
Maruouchi to about 100 billion yen ($1.3 billion) over three
years as it sees an improvement in the market.

The plans are a rare upbeat sign for Japan’s property market
and underscore the better position of developers such as
Mitsubishi Estate, which unlike overseas investment funds can
afford to wait until new buildings begin generating cash flow.

Oct 26, 2011

Lone Star set to quit Japan golf business

TOKYO, Oct 26 (Reuters) – U.S. private equity firm Lone Star
will sell its entire stake in PGM Holdings , one of
Japan’s largest golf course operators, for 39.5 billion yen
($521 million) as it seeks to exit one of its largest
investments in distressed assets in Japan.

Lone Star has agreed to sell its 64 percent stake to
Japanese “pachinko” pinball machine maker Heiwa Corp ,
the manufacturer said. Heiwa will offer 52,000 yen per share for
PGM Holdings, a 30 percent premium on Wednesday’s closing price
of 39,850 yen.

Oct 13, 2011

Tokio Marine Capital eyeing $906 mln sale of drugmaker-sources

TOKYO, Oct 13 (Reuters) – Tokio Marine Capital, a Japanese
private equity firm affiliated with Tokio Marine Holdings
, has launched the sale of drugmaker Showa Yakuhin Kako
Co in a deal that could be worth as much as 70 billion yen ($905
million), according to three people with direct knowledge of the
matter.

Tokio Marine Capital has hired Citigroup to manage the
sale, said the people, who asked not to be identified because
the information is not public.

Oct 7, 2011

KKR, Olympus, Advantage may bid to buy Yayoi from MBK-sources

TOKYO/HONG KONG, Oct 7 (Reuters) – KKR & Co LP ,
Olympus Capital and Advantage Partners are among firms preparing
bids to buy software maker Yayoi from MBK Partners, in what
could be the largest private equity deal in Japan this year,
sources with direct knowledge of the matter said.

MBK is looking to raise about 75 billion yen ($977 million)
through the sale of the accounting software firm, the sources
said, which would beat Carlyle Group’s around 66
billion yen purchase of ball bearing maker Tsubaki Nakashima in
March.

Sep 30, 2011

SMFG to buy out affiliate Promise in $2.7 billion deal

TOKYO (Reuters) – Japanese lender Sumitomo Mitsui Financial Group (SMFG) (8316.T: Quote, Profile, Research, Stock Buzz) is buying out Promise Co (8574.T: Quote, Profile, Research, Stock Buzz) as part of a $2.7 billion rescue of the consumer-finance firm, marking a new phase in the consolidation of an industry battered by a state-imposed credit crunch.

SMFG, which already holds a 22 percent stake in Promise, will launch an 89 billion yen ($1.2 billion) public tender offer for the remaining shares it doesn’t already own, the company said in a statement on Friday.

Sep 21, 2011

Ex-JPMorgan prime broker starts hedge fund advisory

TOKYO (Reuters) – A former prime brokerage executive at JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) has set up a hedge fund advisory firm in Japan, betting on growth in alternative markets as Japanese investors seek higher returns than those offered by conventional investments.

Stefan Nilsson set up HFC Advisory this month to provide research and advisory for those who want to attract Japanese money for alternative funds and funds wanting to invest in Japan.

Sep 9, 2011

GLP eyes $1.3 bln IPO of Japan assets this yr-sources

TOKYO, Sept 9 (Reuters) – Singapore’s Global Logistic
Properties is planning an initial public offering of
its Japanese assets that could raise at least 100 billion yen
($1.3 billion) in the first IPO for a real estate trust in Japan
in five years, three people with direct knowledge of the matter
said.

GLP, the warehouse unit of Singapore wealth fund GIC, has
hired Citigroup Inc , Goldman Sachs and Nomura
Holdings as the main underwriters for the IPO, said the
people, who asked not to be identified because the transaction
is not public.

Sep 6, 2011

Toshiba in talks to hike Westinghouse stake: report

TOKYO (Reuters) – Japan’s Toshiba Corp is in discussions to buy out U.S.-based Shaw Group’s 20 percent stake in nuclear power plant company Westinghouse Electric Co, the Wall Street Journal reported, in a deal that would erase all American ownership of the 125-year-old Westinghouse.

Shares of Toshiba fell 5.8 percent to 2- year lows on Tuesday on concerns the chipmaker would be saddled with costs of buying additional shares it agreed in principal to acquire five years ago, before Japan’s worst nuclear disaster put a chill on global demand for new reactors.