Junko's Feed
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.

Sep 6, 2011

Toshiba in talks to hike Westinghouse stake-WSJ

TOKYO, Sept 6 (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 2-1/2 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.

Aug 17, 2011

TCI ups Japan Tobacco stake on buyback expectations

TOKYO, Aug 17 (Reuters) – The Children’s Investment Fund has
raised its stake in Japan Tobacco (JT) to 1.37 percent,
from around 1 percent two months ago, on expectations Japan’s
government would cut its stake, prompting a share buyback.

The British-based activist fund now owns 137,000 shares in
Japan Tobacco, the world’s third-largest cigarette maker, up
from about 101,000 in early June when the fund published a
letter urging the company to take action to boost shareholder
returns, a TCI partner told Reuters.

Aug 12, 2011

Lone Star aims to sell Tokyo property for $1.3 bln-sources

* Lone Star trying to sell property before loans
mature-sources

* Lone Star sold Tokyo property this year in largest
transaction in Japan

* Mizuho Financial is lender for about $1 billion in loans

(Adds details)

By Junko Fujita

TOKYO, Aug 12(Reuters) – Global private equity firm Lone
Star has put a Tokyo property on sale aiming to raise up to 100
billion yen ($1.3 billion) before loans on the office and
banquet hall complex mature early next year, sources with
knowledge of the matter said.

The move to sell the Meguro Gajoen complex in central Tokyo
reflects Lone Star’s desire to obtain a higher price than the 80
billion yen in loans taken out to finance its original purchase,
as well as a tough funding environment in Japan that would make
it difficult to refinance the loans, the sources said.

Aug 5, 2011

Analysis – Japan Inc could lose out as talks stall

TOKYO (Reuters) – The crumbling of mega-merger talks between Japanese industrial behemoths Hitachi (6501.T: Quote, Profile, Research) and Mitsubishi Heavy Industries (7011.T: Quote, Profile, Research) threatens a rare opportunity for Japan to improve its global competitiveness by consolidating century-old companies.

Hitachi and Mitsubishi Heavy are ready to walk away from talks that would have created an industrial giant with more than $150 billion (92 billion pounds) in sales, sources told Reuters on Friday, after preliminary discussions were thrown suddenly into the media spotlight and the companies turned cautious.