Japan Industrial Partners exits Yutaka Electric
Japan Industrial Partners (JIP) has exited electrical component manufacturer Yutaka Electric to GlassOne, a manufacturer of touch screen panels for tablets and smart phones.
Financial terms were not disclosed.
Yutaka Electric was set up in 1946 and is headquartered in Tokyo with an additional office in Osaka. It also has subsidiaries in Niigata, the US and Taiwan.
Its principal business is in the manufacture and sale of power supply equipment and components for electronic devices, in particular LED displays.
The business was acquired by JIP in January 2006 through a carve-out from Nippon Steel Corporation. According to AVCJ Research, JIP paid JPY1.2 billion (then around $10.4 million) for an 85.7% stake in the company.
The investment was made via Japan Industrial No.2 Investment Enterprise, a JPY30 billion fund that launched in January 2004. JIP is now on to its fourth fund, which reached a final close of JPY30 billion in March last year.
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