Junko's Feed
May 2, 2012

Elpida bondholders threaten to thwart auction-filing

TOKYO, May 2 (Reuters) – A group of bondholders of bankrupt
Japanese semiconductor maker Elpida Memory Inc have threatened
to thwart the auction of the company’s assets if trustees agree
to a reported selling price of 150 billion yen ($1.9 billion).

In a filing to a Tokyo district court on April 27, the
bondholders said they could submit a rival reorganisation plan
if the bankruptcy trustees agreed to a low-ball bid that would
“unintentionally transfer great value to the winning sponsor”.

Apr 25, 2012

Advantage Partners has no immediate plans for new fund -sources

TOKYO, April 25 (Reuters) – Japanese private equity firm
Advantage Partners told an investors’ meeting on Wednesday that
it has no immediate plans to launch a new fund despite the
imminent end-June expiry of the investment period for its
existing 220 billion yen ($2.7 billion) fund, three people who
attended the meeting said.

An executive for the firm had said last month that tighter
global regulations had made conditions for raising money less
than ideal.

Apr 6, 2012

TPG, China’s Hony in joint bid for Japan’s Elpida-source

TOKYO, April 6 (Reuters) – Private equity firms TPG Capital
LP and China’s Hony Capital are bidding jointly to buy
Elpida Memory, a source familiar with the matter said on Friday,
joining others in the battle for the bankrupt Japanese
chipmaker.

The two firms will take part in a second round of bidding
for Elpida, due to close on April 27, said the person, who asked
not to be identified because the information is not public.

Apr 6, 2012

U.S, Chinese private equity in joint bid for Japan’s Elpida-source

TOKYO, April 6 (Reuters) – Private equity firms TPG Capital
LP of the United States and China’s Hony Capital are
bidding jointly to buy Elpida Memory, a source familiar with the
matter said on Friday, heating up the battle for the bankrupt
Japanese chipmaker.

The two firms will participate in a second round of bidding
for Elpida, due to close on April 27, said the person, who asked
not to be identified because the information is not public.

Apr 2, 2012

SMBC leaps to 2nd place in Japan’s equity capital market

TOKYO, April 2 (Reuters) – Sumitomo Mitsui Financial Group
has leapt into second place in Japan’s equity capital
market rankings, buoyed by winning one of a handful of major
share sales in the first quarter of 2012 only three years after
entering the market.

Sumitomo Mitsui, Japan’s third largest bank, started a
full-fledged investment banking operation in 2009 after buying a
Citigroup Inc unit, while cutting a long alliance with
Daiwa Securities.

Mar 27, 2012

Japan buyout firms bank on corporates in exit scramble

TOKYO, March 27 (Reuters) – Japan’s private equity firms, in
search of new cash for investments, are gearing up to sell a
chunk of their domestic assets this year to a willing group of
buyers – the nation’s cash-rich corporates.

Japan’s corporates bought $44.3 billion worth of companies
from private equity firms in 2011, almost six times more than
the year earlier, according to Thomson Reuters data. And their
appetite is far from sated as they seek new growth avenues, even
if they have to pay a premium.

Mar 2, 2012

Japan’s post-tsunami test: making a rebuilding boom last

YAMADA, Japan, March 2 (Reuters) – Shigeo Osugi walks
around concrete foundations where his coastal town restaurant
“Migoto” stood before a towering tsunami washed it away last
year.

“I will stay in Yamada because I have friends here and they
supported me for a long time,” he says, pointing to the area
that was once the kitchen where he and his two sons prepared
meals for up to 100 customers.

Feb 24, 2012

Carlyle hires Nomura, Goldman for Tsubaki Nakashima IPO-sources

TOKYO, Feb 24 (Reuters) – Private equity firm Carlyle
Group has hired Nomura Holdings Inc and
Goldman Sachs to handle the initial public offering of
Japanese ball bearing maker Tsubaki Nakashima Co in a deal that
could be worth at least 70 billion yen ($873 million), sources
with knowledge of the matter said.

The global offering could be launched as early as June,
depending on market conditions, the sources said. It would
likely rank as the largest IPO in Japan since online gaming firm
Nexon Co sold 98 billion yen worth of shares in
December.

Feb 10, 2012

Unison in final round of bidding for Japan drugmaker -sources

TOKYO, Feb 8 (Reuters) – Japanese private equity firm
Unison Capital is among companies in the final round of bidding
for Japan drugmaker Showa Yakuhin Kako Co, a deal that could be
worth around 50 billion yen ($650 million), four people familiar
with the transaction said.

Unison, which manages one of the largest private equity
funds in Japan, has joined hands with the country’s GC Corp, a
maker of dental care materials, to bid for the generic drugs
company, they said.

Feb 6, 2012

Japan’s stay-at-home firms finally spread their wings

TOKYO (Reuters) – Japanese companies are again venturing offshore, and this time a new breed of business is striking deals overseas.

Japan Inc splurged a record $70 billion (44.4 billion pounds) on foreign acquisitions last year, taking advantage of a strong yen, big cash reserves, attractive valuations and some willing sellers, especially in Europe.