Japan's DRC climbs into Kojitu
DRC II, a private equity investment vehicle operated by DRC Capital in Japan, will take a 16.83% stake in Kajitu.Co., Ltd., a JASDAQ-listed climbing and outdoor goods retailer, for JPY227 million ($2.5 million), as part of a capital-raising exercise involving the issuance of JPY543 million ($6.2 million) of new shares.
DRC II is 99% owned by an equal JV between Japan Trustee Service Bank, owned by Risona Bank, Sumitomo Trust Bank and Chuo Mitsui Trust Holdings. The new capital will be used to repay Kojitu's debt, arising...
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