Japan
Banks and deal-sourcing: Information arbitrage
Japan’s banks do not have the power that they once did to source deals, but they are far from irrelevant. GPs say these institutions still have a role to play, though their advice must be considered carefully
Corporate governance: Thin end of the wedge?
Japan’s corporate governance code will not trigger a torrent of non-core divestments, but it may encourage boards to think strategically about how – and with whom – they can improve performance
Japan consumer: Big spenders
Japan’s gradual economic recovery could deliver a wealth of new opportunities in the consumer space. But to realize true value, private equity firms must look deeper, or in certain cases, further
Japan buyouts: Large check limbo
It is not a phenomenon unique to Japan. Pick a major Asian market with public markets trading at or close to an all-time high and you find a cumulative private equity investment figure that is lagging the previous year’s pace.
Japan's Advantage to launch $400m Asia fund
Japanese mid-market GP Advantage Partners is looking to raise a $400 million fund targeting investments opportunities in Asia ex-Japan.
Polaris acquires Japan massage salon operator
Japan's Polaris Capital has acquired massage salon chain Factory Japan Group (FJG) for an undisclosed sum. The investment was made via Polaris Private Equity Fund III.
MC-Seamax closes maiden shipping fund at $300m
MC-Seamax Managagement, the US-based GP backed by Japanese conglomerate Mitsubishi, has reached a $300 million close on its maiden fund intended to take advantage of depressed prices in the global shipping industry.
KKR-owned Panasonic Healthcare agrees $1.1b Bayer bolt-on
Panasonic Healthcare, the Japanese medical equipment manufacturer in which KKR acquired a majority stake last year, has agreed to buy Bayer’s diabetes care business for EUR1.02 billion ($1.15 billion).
Japan's Sumitomo Mitsui backs GMO Payment
Japan's GMO Internet - which runs its own early-stage investment unit, GMO Venture Partners - has raised JPY8 billion ($65 million) from Sumitomo Mitsui to develop e-commerce payment solution GMO Payment Gateway (GPG).
Japan ministries approve $80m for Osaka University VC fund
Japan's Ministry of Economy, Trade & Industry (METI), and the Ministry of Education, Culture, Sports, Science & Technology (MEXT) have approved a JPY10 billion ($80 million) investment by Osaka University into its recently launched venture capital arm.
Deal focus: Advantage rings up TeleGuam return
Ties between Japan and the US territory of Guam go back a long way. Much of this is do with their relatively proximity, and the fact Japan held the island during the Second World War. But visitors coming from Japan are much more welcome today. Guam is...
J-Star backs Japan medical insurer
Japanese mid-market GP J-Star has invested an undisclosed sum in Nihon Hoken Service (NHS), a Tokyo-based insurance agency and insurance solicitation business.
SoftBank commits $1b to Korea e-commerce player Coupang
Japan’s SoftBank Corp. has added another Asian e-commerce brand to its portfolio with a $1 billion commitment to South Korea-based Coupang.
Advantage exits GTA TeleGuam to Indonesian trade buyer
Japan's Advantage Partners has exited GTA TeleGuam - the former state-owned telephone company based on the island of Guam - to Telkom Indonesia. The value of the transaction has not been disclosed.
CyberAgent Ventures launches $50m Southeast Asia fund
Japan's CyberAgent Ventures (CAV) - the corporate venture arm of the eponymous Japanese internet firm - has launched a $50 million fund focusing on Southeast Asia start-ups.
YJ Capital, East Ventures back Japan big data start-up
YJ Capital - the corporate venture capital arm of Yahoo Japan - and East Ventures have invested JPY260 million ($2 million) in Use Local, a Japanese big data start-up.
Energy: A world beyond funds
A small but growing band of GPs are modifying the conventional PE fund model in favor of solutions that better meet their needs. For those with long-hold, asset-heavy strategies, the future may lie in platforms
Deal focus: CLSA tools up with Astro Products deal
Two years ago CLSA Capital Partners made its maiden investment from Sunrise Capital II, a $210 million Japan-focused fund that launched 16 months earlier. The company was BCN, a used car auction site operator based in Saitama prefecture, which CLSA acquired...
Marunouchi Capital exits Japanese toymaker Takara Tomy
Marunouchi Capital has sold the last of its stake in Japanese toymaker Takara Tomy via an open market sale.
Lixil unit files for insolvency less than 18 months after PE exit
Japanese bathroom fitting company Lixil is set to lose at least JPY41 billion ($337 million) after its German-listed Chinese subsidiary, Joyou AG, filed for bankruptcy. Lixil acquired the business after it bought German faucet maker Grohe from TPG Capital...
Bain set for another partial exit from Japan's Skylark
Bain Capital is set to make another partial exit from Japanese casual dining chain Skylark, reducing its stake from 66% to under 50%.
CLSA invests in Japanese automotive tools retailer
CLSA Capital Partners has acquired a majority stake in Japanese automotive tools retailer Worldtool in a deal that values the business at around JPY10 billion ($82.8 million).
IBM, Samurai to launch second Tokyo start-up program
IBM BlueHub - IBM's Japan incubation program - has started taking applications for its second start-up accelerator in partnership with Tokyo-based early-stage investor Samurai Incubate.
Mizuho, China Merchants launch $250m growth fund
Japan's Mizuho Securities and China Merchants Group (CMG) have launched China-focused growth equity fund, which is looking to raise a total $200-250 million. Mizuho has contributed $20 million to the vehicle.