Marunouchi Capital exits Japanese toymaker Takara Tomy

According to a disclosure, the PE firm offloaded a 12.2% stake in the business, or 10.3 million shares. The total consideration has not been disclosed, but based on the May 22 close of JPY727 - the last day of trading prior to the transaction - it is likely to be in the region of JPY7.5 billion ($61 million).

The deal comes five months after TPG Capital sold 4.45 million shares - or a 4.62% stake - in the company as part of a wider buyback of 9.7 million shares. Tomy has been allocated up to JPY6.7 billion for the transactions, while a further JPY7 billion was used to take out TPG's bonds.

TPG acquired a 14.38% interest in Tomy for JPY9.41 billion in March 2007 and then sold a 10.83% stake to Marunouchi Capital - which invested JPY8.42 billion for a 15% interest - two years later.

Tomy was founded by Eiichiro Tomiyama in 1924 as Tomiyama Toy Seisakusho and initially specialized in making toy airplanes. It now sells a wide variety of toys, games and childcare products to a global customer base. In 2006 the company merged with long-time rival Takara, best known for the Transformers line of toys.

The company reported net sales of over JPY219 billion, and a net income or JPY11.8 billino for the 12 months ended March 2015, compared to JPY209 billion and JPY9.9 billion for the previous year.

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• Topics
• Exits
• North Asia
• Consumer
• Exit
• Japan
• Marunouchi Capital
• Consumer