Junko's Feed
Jun 20, 2011

Carlyle Japan eyes industrials, domestic deals

TOKYO (Reuters) – Japan’s industrial, healthcare and technology sectors are the main focus for the Carlyle Group, the co-head of its Japanese unit said, as the firm looks to invest locally in the post-disaster environment in companies with a clear ability to compete abroad.

Carlyle, the only major private equity firm with a Japan-focused, yen-raised investment fund, will concentrate more on companies in the range of 10 billion yen to 40 billion yen ($125 million to $500 million), in the buyout firm’s efforts to keep its Japan investing going at a time when some of its peers are pulling back.

Jun 16, 2011

Ambitious Osaka property gets no Tokyo drift

OSAKA, Japan, June 16 (Reuters) – Three months after eastern
Japan was struck by a massive earthquake and tsunami, gloom has
once again settled over Osaka’s long-depressed property market.

After lurching from one recession to the next over the last
two decades, Osaka found a glimmer of hope when institutions and
embassies flocked to the country’s second-largest economic
centre to open emergency offices after the March 11 earthquake.

Jun 14, 2011

Foreign distressed investors said to be buying Tepco bonds

TOKYO, June 14 (Reuters) – Foreign hedge funds and investors
in high-yield debt are buying Tokyo Electric Power
bonds as they bet Japan’s parliament will enact a law to help
the utility compensate those affected by the crisis at its
nuclear plant and keep it solvent , market experts
said.

While Japanese investors are avoiding the risk of holding
debt issued by the utility known as Tepco, investors in
distressed assets are betting that passage of the law would give
them the opportunity to sell Tepco bonds and take profits, they
said.

Jun 1, 2011

CJ Group, Unison bidding for Japan’s Hayashibara-sources

TOKYO, June 1 (Reuters) – South Korea’s CJ Group and
Japanese private equity firm Unison Capital are jointly bidding
for Japanese food-additive maker Hayashibara, sources with
direct knowledge of the deal said on Wednesday.

Hayashibara, which failed in February owing 130 billion yen
($1.6 billion) in debt, has been looking for an investor to keep
its business going.

Jun 1, 2011

Mitsubishi Estate to invest £4.4 billion over 3 years

TOKYO (Reuters) – Mitsubishi Estate (8802.T: Quote, Profile, Research) plans to spend $7.4 billion (4.4 billion pounds) in the next three years for investments in Japan and overseas, half of which in Japan’s hottest business district as it wants to keep attracting international tenants, its chief executive said.

The amount is a 50 percent increase over spending for the past three years, with the firm investing about 300 billion yen in developing Tokyo’s Marunouchi business district to help the nation boost its standing as an Asian financial hub.

Jun 1, 2011

Mitsubishi Estate to invest $7.4 bln over 3 yrs

TOKYO, June 1 (Reuters) – Mitsubishi Estate plans
to spend $7.4 billion in the next three years for investments in
Japan and overseas, half of which in Japan’s hottest business
district as it wants to keep attracting international tenants,
its chief executive said.

The amount is a 50 percent increase over spending for the
past three years, with the firm investing about 300 billion yen
in developing Tokyo’s Marunouchi business district to help the
nation boost its standing as an Asian financial hub.

May 25, 2011

Advantage Partners: lenders in talks to take over Tokyo Star Bank

TOKYO, May 25 (Reuters) – Japanese private equity firm
Advantage Partners said that four special purpose firms it
established to buy Tokyo Star Bank for about $2.2 billion three
years ago missed loan payments and would likely relinquish
control of the mid-sized bank.

The development will pave the way for Tokyo Star to come
back under the umbrella of U.S. investment fund Lone Star, which
had taken the bank public in 2005 and sold its remaining stake
in 2008 to the entities set up by Advantage Partners near the
height of a leveraged buyout boom.

May 23, 2011

Lone Star back as top shareholder of Tokyo Star-sources

TOKYO, May 23 (Reuters) – U.S. investment fund Lone Star
will become the top shareholder in Tokyo Star Bank when Japanese
private equity firm Advantage Partners relinquishes ownership
due to trouble repaying debt, two people with direct knowledge
of the matter said.

The transaction will bring Tokyo Star back under the
umbrella of Lone Star, which had taken the mid-sized lender
public in 2005 and sold its remaining stake to Advantage
Partners in 2008 near the height of a leveraged buyout boom.

May 19, 2011

Moody’s: may review Tepco ratings if comp laws not passed

TOKYO, May 19 (Reuters) – Moody’s Investors Service said it
may review the credit ratings of Tokyo Electric Power if Japan
fails to pass laws in the current parliamentary session on a
scheme to help the utility handle compensation payments related
to its crippled nuclear plant.

Such a move would see Moody’s view on debt from Tokyo
Electric , one of the most active bond issuers in Japan,
shifting to junk status.

May 6, 2011

Takefuji selling property to help repay debt-administrator

TOKYO, May 6 (Reuters) – Failed Japanese consumer lender
Takefuji, soon to be taken over by Seoul-based A&P Financial,
will sell its headquarters and other real estate as it tries to
repay debt of 1.5 trillion yen ($18 billion), its court
appointed administrator said on Friday.

Takefuji, which failed in September after being hit by a
court order to repay customers overcharged interest, is planning
to draw up restructuring plans by July, the company’s
court-appointed administrator Eiichi Obata told a news
conference.