Agenda
Registration
play_arrow
play_arrow
Japanese M&A update: Continue to thrive
In Japan, deal value increased by 38.8% year over year, delivering roughly $123 billion in 2023 - more than anywhere else in Asia, per Mergermarket data. For 2024, the revival of the stock market, favourable interest rates, stability from a geopolitical and social and pressure from the government and shareholders to divest non-performing assets are creating fertile ground for dealmakers. Our panel of experts will share their views on the outlook for the market and what the industry must do to maintain the momentum.
- What investment themes and strategies will fuel more Japanese M&A in the next 12 months?
- Will the rise in carve-out transactions remain and how can you access deals?
- Outbound M&A: How can Japanese corporates compete for international deals?
- Inbound M&A: How much M&A activity will we see and what makes Japan attractive?
play_arrow
Networking break
Cross-border deals: Navigating the markets
Overseas buying has caught the attention of investors, both inbound and outbound, as business owners increase their appetite for engaging in cross-border M&A. Japan is a hotspot for inbound investment as the country has a large pool of solid assets, simultaneously, out-bound deals are also recovering with the opportunity for value creation and overseas expansion. On the other hand, there are long-terms challenges that remain such as an aging population, questions marks on if and when non-core divestitures will happen, ability for overseas investors to gain traction curtailing the growth momentum, and geopolitical issues. Our panel of experienced investors and dealmakers outline the driving forces for cross-border activity, including the hotspots in the Japanese market.
- How are companies integrating domestic & overseas operations to establish global management systems and structures?
- How do you navigate the cultural aspects of integration and drive value creation?
- Increase in carve out deals. What are difficulties that non-Japanese buyers typically face in these transactions?
- More hostile takeover cases in Japanese market recently. What are key areas buyer needs to be mindful about?
- Increase in the acquisition of early stage/start up business in Japanese market… What are key areas buyers need to be aware of?
play_arrow
Regulatory and activist update: Game changing the deal environment
The new regulatory regime, aimed at driving competitiveness has spurred M&A activity and mmanagement buyouts in Japan to their fastest pace in more than a decade as intensifying governance pressure has created more opportunities. With take-privates on the rise and headline deals showcasing what can now be done, the Tokyo Stock Exchange’s recent push for better capital efficiency is also expected to create greater pressure on companies as activist investors pursue more difficult and high-profile investments. A panel of regulators, investors, and advisors will discuss the effects of new regulations on Japanese dealmaking.
- How is governance and regulatory pressure driving the activist agenda?
- How are regulations driving more take private deals and how accessible are they?
- What is the pipeline for deals over the next 12 months?
- In what part of the market are we likely to see the most corporate divestment?
play_arrow
Networking Lunch
Technology M&A: The new gold rush
Bolstered by disruptive technologies in the fields of artificial intelligence (AI) and energy transition, businesses of all sizes across sectors in Japan will have to embrace digital transformation into their business model if they plan to compete long-term. For venture capitalists and corporates, finding the technologies and innovators developing the products that will lead the way is paramount to harness the huge potential and ensure they are investing in the game-changing companies. In this panel, technology investors and experts will discuss the opportunity set in the sector and key trends for technology M&A deals.
- What strategies are top Japanese corporates using to invest in technology innovations?
- Where are the strengths in the sector in Japan and what tech companies have led the way?
- How can you maximise value amid a fast-growing wave of Japanese tech startup going public?
- How do you find the AI investments that will capture a global market in a sea of opportunities?
play_arrow
play_arrow
Networking break
Mid-Market growth in Japan: Going big
The fragmented, ageing nature of Japan’s small and medium-sized enterprise space and growing momentum in corporate divestments, have resulted in the middle-market scene growing in popularity as more players enter the market. As competition increases, finding talent, sourcing deals and exits at an attractive price, and navigating the complexities of an evolving market are critical. In this session, a group of expert investors will deep dive into the mid-market space.
- How has the mid-market evolved and where do all the participants now fit?
- What are the most active sectors of Japan's mid-market M&A deals?
- Valuations and expectations – what’s changed in the past twelve months?
- What does a downturn mean for middle-market deal flow?
- How is the M&A advisory landscape evolving?
play_arrow
Japanese private equity: The Asia bright spot
Private-equity deals hit their highest historic levels with a rate of USD 44.2bn in 2023, outperforming the rest of Asia, according to Mergermarket data. The strong push to restructure and transform conglomerates, the narrower valuation gap between buyer and seller and and availability of has created an attractive deal environment for private equity players that need to deploy capital.
Whether the opportunity can match the amount of capital earmarked for Japan, how the market reacts to a recession, are all questions that will need to be answered as private equity investors look to Japan as the key market for investment in Asia amongst adversity. Our panel of leading private equity managers will share their views on the opportunities and challenges in the market.
- What are the growth patterns and exit routes of firms in Japan?
- How do you source sizeable take-private opportunities?
- Are GPs being disciplined enough on portfolio valuations?
- What effect will rising interest rates and a recessionary environment have on the investment landscape?
- Can the market absorb more GPs and larger fund sizes, or will this distort the value proposition?
play_arrow
Close of conference and Networking drinks
Confirm cancellation
An error occurred trying to play the stream. Please reload the page and try again.
CloseSign-up to join the ION Analytics Community to:
- Register for events
- Access market insights
- Download reports
Masashi has many years of experience operating in the investment and loan business during his time at Sumitomo Mitsui Trust ＆ Banking and Japan Post Bank. He contributed to the launch of Japan Post Bank private equity investment program and has been involved in numerous venture capital and private equity investments in Japan and globally.
Masashi has a BA in Economics from Waseda University and MBA from the Wharton School of the University of Pennsylvania.
Executive Officer, Head of Buyout Investments. Naoki joined JPIC from Revamp Corporation, where he was Chief Investment Officer. He was previously with Unison Capital and an Attorney with Nishimura & Asahi. He has been involved in numerous Private Equity deals through the entire deal lifecycle from sourcing to exit, and also has been involved in numerous M&A transaction as a lawyer. He holds a Law degree from Chuo University and is an Attorney at Law.
Masahiko (“Masa”) Ishida is a Country Managing Partner and head of the Japan corporate group in DLA Piper’s Tokyo office. Masa has a wide range of M&A and Private Equity experience in the Japanese market and abroad over his 20 year career. Masa has led many notable large acquisitions on behalf of his clients across various sectors including consumer goods, technology, finance and life sciences. He has also worked on behalf of governmental agencies and multinational trading companies in Japan.
Masa has been recognized as a leading M&A lawyer by many legal publications and ranking institutions such as Chambers Global and Legal 500. Masa was also recently recognized as one of the “Dealmakers in Asia” for 2020 by Asian Legal Business. Prior to joining DLA Piper, Masa practiced at Mori Hamada & Matsumoto and thereafter at a multinational boutique investment bank in New York.
Masa is a graduate of the University of Tokyo Graduate Schools of Law and Politics and of Columbia Law School where he was a Fulbright Scholar. Masa was also a visiting scholar at the Center on Japanese Economy and Business (CJEB) at Columbia Business School. Masa is admitted to practice law in Japan and NewYork State.
Yoshinobu Agu is the Head of M&A at Citigroup Global Markets Japan Inc. He also has senior coverage responsibilities for clients including financial sponsors, real estate companies, public sector clients, etc. He has worked on various M&A advisory roles in various sectors/industries, including both cross-border transactions in various geographies, as well as domestic transactions and restructuring deals. He joined Citi in 1998 after working for Nikko Securities. He holds a BA from the School of Commerce at Waseda University and MBA from Boston University.
Masahide Fukuda serves as the General Manager of the Corporate Strategic Investment Department at ENEOS Holdings, Inc. and ENEOS Corporation, where he leads the corporate mergers and acquisitions activities, providing pivotal support to the business units within both entities. Under his leadership, ENEOS received Industrials & Chemicals M&A Deal of the Year and M&A Deal of the Year of Japan in 2022 from Mergermarket Japan.
His legal background includes leading the Legal Department at ENEOS, where he managed M&A legalities. He began his career in corporate law, with significant contributions to domestic and international M&A transactions at Freshfields Bruckhaus Deringer and Jones Day.
Masahide's academic credentials include a Master of Laws (LL.M.) from the UCLA School of Law in the United States and a B.A. from The University of Tokyo in Japan. He is a licensed bengoshi in Japan and is also admitted to practice in New York.
Tom Yoshida joined Mitsubishi Chemical Holdings (now Mitsubishi Chemical Group) in 2018 as Executive Officer and has been instrumental to build up M&A team and led to execute acquisitions and divestitures, including large carveout deals, in line with Mid-term growth strategy of the Group.
Since late 1980s, Mr.Yoshida has devoted his career to strategic M&A and PE investments by working for Mitsui & Co. Ltd. for 25 years, save once served as independent Fund manager for Japanese mid-market PE Fund. Stage of his investment experiences covers startups, growth, buyouts, and special situations, while working in Japan, US and other overseas markets.
He holds a BA in Economics from University of Tokyo and an MBA from Wharton School, University of Pennsylvania.
Since he joined Marsh in January 2022, Masato has been engaged in risk advisory work, including arrange of warranties and indemnity insurance, for private equity and corporate clientele. Prior to joining Marsh, Masato has 13-year sales experience for Tokio Marine Nichido Fire, including 2-year experience in sales planning of both cross-border and domestic M&A insurance.
Jonathan is a Managing Director [and Co-head of M&A1] at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. Based in Tokyo since 2005, he has advised on Japan-related M&A across various industries for over 20 years, focusing on cross-border transactions. Prior to joining Mitsubishi UFJ Morgan Stanley in 2011, he worked for Nomura Securities in Tokyo and London as well as EY in London. Jonathan graduated from Oxford University in 1999.
Guy joined Sony Network Communications, part of the Sony Group, as a Director of Corporate Development in April 2023, and recently started a concurrent role on the investment team at Sony Ventures Corporation, the venture investment arm of Sony Group Corporation known as the Sony Innovation Fund.
He has wide-ranging experience in originating and executing cross-border M&A transactions, strategic partnerships and incubation projects across various sectors and regions. Previously he held roles at KPMG FAS, Dai-ichi Life, and a tech company.
He holds an M.A. in Philosophy, Politics & Economics from the University of York, is a CFA charter holder and has obtained the JLPT N1 qualification.
Joe is a Partner within the Herbert Smith Freehills' Corporate team in Tokyo.
Joe has worked on a wide range of corporate matters with a particular focus on M&A, joint ventures and general corporate and commercial transactions. He regularly advises on transactions in both developed and emerging markets and has worked on deals across numerous jurisdictions in the firm's London and Tokyo offices. Joe also has experience across a wide range of sectors including TMT, consumer, energy, manufacturing and industrials.
Joe was named as a "Next Generation Partner" for Corporate / M&A in Japan by Legal 500 Asia-Pacific 2024, and is ranked as a leading lawyer for Corporate / M&A in Japan by Chambers Asia-Pacific 2024.
He is admitted to practice in New Zealand and in England and Wales and is a licensed Registered Foreign Lawyer (Gaikokuho Jimu Bengoshi) in Japan.
Experience
His career includes working at of one of the largest Venture Capitals in Japan and as a Business Consultant at one of the worlds largest professional Consulting Firms. Since joining Mercer, he has supported many Japanese clients in large stock acquisitions and multi-national carve out deals.
His latest project experiences are as follows;
- HR program establishment and employee transfer support for a JV establishment of an Energy Company including transfers between the UK and Singapore
- HR Due diligence and pension carve out negotiation support for an asset acquisition of a heavy electric machinery company spanning throughout the world
- Employee transfer, HR program and functionality establishment support for an asset deal spanning in 15 countries headquartered in North America
- Culture due diligence and culture integration support for a European corporation’s acquisition of a Japanese startup
Education
He graduated from Keio University (BA of Chemistry) and from Graduate School of Keio University (MSc. of Chemistry).
Ken is a senior manager at Corporates Strategy Department of Kirin Holdings. He is responsible for a large scale investment strategy, including a recent case involving a 1.9bn acquisition of Blackmores Group in Australia.
Prior to joining Corporate Strategy Department, he worked as Investor Relations Manager for 5 years. Prior to that, he was seconded to Mitsubishi Corporation and spent over three years in overseas (Hong Kong, UK), working mainly on strategy and communications.
Cem Goekmen is the Global Head of Corporate Development at Adragos Pharma, one of the fastest-growing global CDMOs pursuing a buy-and-build strategy. Prior to joining Adragos Pharma, Cem served as Investment Director at an alternative asset manager in Switzerland, focusing on European Equities. With nearly a decade of investment banking experience, most recently with Lazard, Cem has specialized in cross-border and cross-Atlantic M&A, as well as advising numerous clients on IPOs in Europe.
Shigeki Kimura, Managing Director, is Japan Head of Government Affairs & Public Policy (GAPP).
GAPP defines BlackRock's public policy priorities in Japan and lead our engagement strategy to shape positive policy outcomes for BlackRock and our clients. Mr. Kimura will expand our engagement in Japan, working with country leadership, L&C, Corporate Strategy, and the client and investment teams, to deliver concrete policy results that enhance market functioning and advance BlackRock's growth objectives in the country. He brings a wide range of public policy and financial services expertise to BlackRock, including leadership roles at top levels of government.
Mr. Kimura spent over 20 years serving the Government of Japan in various senior positions at the Japan Ministry of Finance, Cabinet Secretariat, and international financial institutions covering financial issues. Following his time in government, Mr. Kimura was Managing Executive Officer and Global Head of the Industry Finance Group at the Japan Bank for International Cooperation (JBIC). More recently, he has been a Senior Advisor at Brookfield Asset Management and an Executive Advisor at Japan Post Investment Corporation (JPIC).
Mr. Kimura graduated from the Law Faculty of Tokyo University and is a registered attorney at law. He serves on the Board of Habitat for Humanity Japan.
Hiroyuki Otsuka is the founder and CEO of Newton Investment Partners, Inc.
Before founding Newton Investment Partners, he was the Deputy Head of Carlyle Japan and Managing Director leading the firm’s carve-out deals. Mr. Otsuka was also head of the General Industries group, and has driven a number of significant transactions and served as a board member at several companies including Chimney Co., Ltd., Tsubaki Nakashima Co., Ltd,. CxS Corporation, and SENQCIA Corporation (formerly Hitachi Metals Techno, Ltd.). He has also led the sourcing of the take private deal of SEIKO PMC CORPORATION, which was a listed subsidiary of DIC Corporation.
Mr. Otsuka has also served as a board director for several of Carlyle Japan’s portfolio companies such as Enewill Inc., Kokusai Kogyo Co., Ltd., TOTOKU INC. (previously a listed subsidiary of Furukawa Electric Co., Ltd.). During his tenure at Carlyle, Mr. Otsuka was committed to creating value for its portfolio companies and supporting their transformation to achieve sustainable growth.
He also served as an independent board member of DeNA Co., Ltd. from 2015 to 2019.
Mr. Otsuka began his career at Sumitomo Bank (currently Sumitomo Mitsui Banking Corporation) in 1992. After returning from post-graduate studies in 1998, he joined Sumitomo Bank’s M&A team and worked on multiple collaborative transactions, including the establishment of a joint venture with Daiwa Securities and arranging an alliance with Lazard.
In 2001, Mr. Otsuka joined Carlyle Japan and was responsible for the industrial sector.
In 2002, he joined Lazard and served as a Director at their New York headquarters as well as in Japan, leading multiple cross border and domestic transactions. He was promoted to Managing Director in 2006.
That same year, Mr. Otsuka, returned to Carlyle Japan, where he continued to work until he founded Newton Investment Partners.
Mr. Otsuka was a member of the “Fair Acquisition” (2023) and “Challenges for M&A in Japan and Case Studies” (2022/2023) study groups formed by the Ministry of Economy, Trade and Industry.
He is a member of Japan Association of Corporate Executives.
Mr. Otsuka received his post-graduate degree from Oxford University and his B.A. from Waseda University.
Hideaki Miyajima (PhD, Waseda University) is professor at Faculty of Commerce, Waseda University. He is currently Executive Vice President (Financial Affairs) at Waseda University, Faculty Fellow at Research Institute of Economy, Trade & Industry (RIETI), and Advisor at Waseda Institute for Advanced Study (WIAS). He has participated in numerous committee and research groups in Japanese government (Ministry of Finance, Ministry of Economy, Trade and Industry). He has also consulted to various institutions including Financial Service Agency, Cabinet Office, Tokyo Stock Exchange, the World Bank. His research covers the analysis of Japanese economy, corporate finance, corporate governance, M&A, and business-government relationship. His work appeared in Review of Financial Studies, Journal of banking and Finance, Corporate Governance: International Journal, Journal of Internal and Japanese Economies, Benchmarking: International Journal, among others. He also published several edited volumes such as Corporate Governance in Japan, Oxford University Press, Changes and Continuity in Japan, Routledge Curzon Press, Policies for Competitiveness, Oxford University Press.
Fujiko Amano is Director for Investment Collaboration at the Investment Facilitation Division, Ministry of Economy, Trade and Industry of Japan ("METI"). She handles policy-making for foreign direct investment promotion jointly with the "Invest Japan" Office of the Cabinet Office and undertakes deregulatory projects, serving as a contact point for foreign corporations and foreign entities in Japan. She brings a unique mixture of public and private sector experiences in trade and investment as well as public policy and regulatory fields.
Prior to joining METI, she served as a trade negotiator for the Japan-EU EPA and the Japan-China-Korea FTA at the Economic Affairs Bureau of the Ministry of Foreign Affairs of Japan and has held management positions at multinational corporations and international organizations, including Vodafone, a Global IT company and Japan-ASEAN Centre. As a New York licensed lawyer, she also practiced law at Shearman & Sterling, Jones Day and Sidley Austin. She holds a BA from Bryn Mawr College, a law degree from the University of Oxford, and a Msc. from the London School of Economics.
Kazuhiko is a global finance and investment expert, with particular expertise in ESG and sustainable finance.
Prior to joining Morrow Sodali, Kazuhiko was a principal advisor at S&P Global Market Intelligence (IHS Markit), providing insight and guidance on ESG to clients in APAC including Japan. Previous roles include promotion of ESG stewardship activities at Daiwa Asset Management. Earlier responsibilities in a long career include international primary markets, quants, corporate access and compliance at Daiwa Securities.
Kazuhiko has a Bachelor of Arts in Economics at Kyoto University and Master of Business Administration at the University of Chicago. He is a CFA Charterholder.
Reiji Yoshida is a Tokyo-based reporter covering M&A deals and growth strategies of Japanese companies, mainly those in the industrials sector. He also regularly writes top executive interview stories of Japan-based startups.
Prior to joining Mergermarket in May 2021, he served as Senior Writer / Deputy Manager of the Domestic News Division of The Japan Times, the oldest and largest English-language newspaper of the country. Started his journalistic career in 1993, he has extensive experience of covering Japan-related topics as writer /editor.
After beginning his career as a lawyer supporting startups, Ryohei Nomoto joined the KDDI Group's Supership Holdings in 2015. As the Head of Corporate Development and a subsidiary executive, he has overseen the development of company-wide strategies, M&A, business development, and policy planning. In 2019, he joined Globis Capital Partners. He is the author of "Successful Alliances: Strategy and Practice" (published by Nihon Jitsugyo Publishing) and more.
Gen Tsuchikawa is the Chairman of Sony Ventures Corporation, where he supports the venture investment arm of Sony Group Corporation known as the Sony Innovation Fund. In this role, he is responsible for strengthening external relationships on behalf of the organization within the venture capital industry and globally through collaborative initiatives with prominent industry associations, corporate venture funds, and venture capitalists. Gen established Sony Innovation Fund on behalf of Sony in 2016. Under his leadership, Sony Innovation Fund greatly expanded its focus on early- to growth-stage emerging technology startups in the entertainment, healthtech, fintech, deeptech and environmental sectors. He also helped to increase the fund’s assets under management to more than $600 million in 2023.
Gen has spent nearly 20 years at Sony, where he also currently serves as a Corporate Vice President. Gen previously served in other various executive roles at Sony, leading Corporate Development, M&A, Business Development, and Investors Relations.
Prior to joining Sony, Gen spent 20 years in the finance industry at Merril Lynch and the Industrial Bank of Japan.
Gen holds a B.A. from Hitotsubashi University in Japan and an M.B.A. from Stanford Graduate School of Business.
Takako is a leader in the Strategy & Corporate Development in Japan. She has more than 20 years of experience developing strategic business models and M&A integration / separation planning for domestic and international clients in wide range of industries. She works primarily with broader Manufacturing and Auto companies on strategy and M&A topics.
Her experience in M&A stretches across the entire process, from strategy and theme definition to target selection, due diligence, synergetic assessment, and post-merger management for both domestic and cross-border transactions.
Prior to joining IBM, she worked for KPMG FAS, Booz Allen Hamilton, GE Capital, and Intel based in the US and Tokyo. She leveraged in-depth knowledge of North American, Asian, and Japanese markets in order to provide astute and productive business consulting to clients. She worked on integration / separation projects for clients across North America, Europe, Asia, and Japan.
Professional Experience
■ Market Assessment, Business Due Diligence, and Visioning & Strategic Planning
Provided assessments of the growth prospects and value creations of the target company through analysis of the overall addressable market and adoption rate as well as target-specific ramp-up issues and challenges.
■ Value-Driven Post-Merger Integrations
Led the overall PMI strategy, Day1 / Day 100 planning, value creation planning, and execution for clients undergoing merger. Included support to attain operational excellence for the continuous improvement of client operations.
■ Separations / Carve-outs
Helped client management teams work through their exit strategy decisions. Conducted separation due diligence to contain carve-out costs and identify savings. Supported structure and run the operational carve-out, IT separation, and divestiture process.
Function and Specialization
Takako is leading the IBM Japan M&A initiatives as part of IBM global transformation activities called “Transform to Glow” focused on strategic partnerships and acquisitions how IBM Consulting Japan collaborates with strategic partners and the broader ecosystem, while also investing in acquisitions to augment capabilities.
Michiko Kato is a partner at Woven Capital. Michiko’s investments span multiple domains including mobility, automation, smart cities, data and analytics. She led Woven Capital’s investments in Nuro, Ridecell, and WHILL.
A passionate investor and operator of growth-stage businesses, Michiko also serves as an independent director at HENNGE and Excite Holdings, as well as a board observer at Nuro and Ridecell.
Before Woven Capital, Michiko was Chief Financial Officer at ABEJA, Inc. — a market leader in artificial intelligence technology backed by Google, NVIDIA and Salesforce. After joining ABEJA in 2018, Michiko helped establish the company’s corporate functions, including finance, strategy, HR and PR. She also worked at leading investment firms such as Unison Capital, International Finance Corporation and Morgan Stanley.
In 2022, Michiko was named a Top 50 Rising Star by Global Corporate Venturing, which recognizes the industry’s top investors chosen from more than 2,000 corporate venturing units.
Michiko holds an MBA from the Harvard Business School and a B.A. from International Christian University in Tokyo.
Ryuya Shiga is Japan Bureau Chief of Mergermarket and has been leading the M&A coverage in Japan since 2022. He has provided actionable business intelligence involved in private equity buyouts and exits, domestic and cross-border M&A, including high-profile scoops on corporate carve -out. He joined Mergermarket in 2014 and has covered industrials & chemicals, logistics, consumer and leisure sectors.
Prior to Mergermarket, he worked in Tokyo-based TV stations where he covered corporate news, stock market, and international news as a reporter and field director.
Tetsu Onitsuka joined EQT Partners in October 2021 and is a partner in the EQT Private Capital Asia team.
Prior to joining EQT, Tetsu was a founding member and Managing Director of Japan Post Investment Corporation, which managed approximately USD 1 billion in private equity funds. Prior to Japan Post Investment, he worked at TPG Capital for over ten years, ultimately running TPG’s Japan business. He also previously worked as an investment banker at Morgan Stanley in Tokyo.
Tetsu received a Bachelor of Arts with High Distinction from Harvard College, and a Master of Business Administration with High Distinction (Baker Scholar) from Harvard Business School.
Kazushige has over 30 years of experience in the private equity (PE) business. Kazushige is handling a couple of PE-related businesses in parallel.
He joined MCP Asset Management in 2020 and manages 2 fund of funds programs of the Tokyo Metropolitan Government including a climate tech VC program.
In addition, he serves as an advisor for a couple of GPs including Rhone, a global mid-market PE fund, as an independent consultant.
Until 2020, he was Managing Director – Head of Primary Investments at Capital Dynamics (CD), a global private asset management company. He oversaw CD’s PE investments in Asia and also served as a member of the Global PE Investment Committee and Executive Committee.
Before joining CD in 2010, he worked for Mitsubishi Corporation, and as a part of that, he served as President and CEO of Alternative Investment Capital (AIC), a private equity advisory firm in Tokyo. AIC was established in 2002 and has grown AIC as a globally recognized PE investor.
He holds a bachelor’s degree in Economics from Hitotsubashi University.
Reo Goto joined Unison Capital in 2017. He is responsible for investment activities mainly in B2B services and consumer services sector, and also serves as a member of Investment Committee. He has been involved in Unison’s investments in Sukesan, SHiDAX, Kids Corporation, and Kurumeshi. Prior to joining Unison, he worked at Mitsui & Co. in Tokyo and Moscow, where he was engaged in business development, strategic investment, and business support for portfolio companies primarily in service business industry.
Reo holds a B.S. in Bioengineering from Tokyo Institute of Technology.
Joined J-STAR in January 2015. He made 8 investments in Tokuyama Shokai Group (Demolition work), Toy Factory (Manufacturing and selling recreational vehicles), Dainichi (processing and sale of cultured fish), WEGO (casual apparel), Sanwa Service (sale of cars), ITTY (D2C of health and beauty-related products), Aisei Pharmacy (management of pharmacies), Japan Hospice Holdings (hospice services, TSE Mothers 7061), and executed 3 successful exits.
He designs tailor-made structures to meet the challenges and needs of owners and their companies. During the investment period, he supports the sustainable growth of each portfolio company by strengthening the organizational structure and implementing individual business improvement projects. He is committed to deepening mutual understanding with the management and other stakeholders of each company.
Before joining J-STAR, he worked in the Investment Bank division of Nomura Securities and the Ministry of Economy, Trade, and Industry.
He graduated in political sciences from the Faculty of Law of Keio University. Since 2020, he has been working to diffuse integrated reports as a member of the board of WICI.
Hidetaka Kojima started his career as a financial advisor at Daiwa Securities Co. Ltd. and then moved to GCA (Houlihan Lokey). After that, he joined Mitsubishi Corporation in 2011 upon the establishment of the Food Sciences Division and then SHIFT Inc. in 2020. He was also involved in the establishment of SHIFT Growth Capital Inc. and then appointed as a director in March of 2022.
He has been responsible for the planning and execution of M&A/PMI strategy at these companies. Thus, he has over 15 years’ hands-on M&A/PMI experience both in industry and as an advisor. He achieved Japan's No.1 M&A track records among 4,000 listed companies in 2023. He is also a regular speaker at M&A conferences/seminars and frequently contribute to M&A journals.
Hidetaka Kojima completed PLD course (PLDA) at Harvard Business School. He also received an MBA from Hitotsubashi University and earned a BA from Tokyo University of Foreign Studies. He is a certified accountant.
| Presently, Kaz works for a global tech giant to head up its Asian corporate development endeavors, including M&A, JV, CVC investments etc. Prior to this role, at Houlihan Lokey Corporation, Kaz played central roles in originating and executing M&A, investments, licensing and IPO deals in life sciences and healthcare, including biopharma, med device and digital health. Prior to Houlihan Lokey Corporation, he was the Head of Asia Pacific at Deloitte’s Corporate Finance practice. Prior experiences include the ED of the investment banking division of Mitsubishi UFJ Morgan Stanley Securities, involved in a number of large-scale transactions (M&A/IPO, etc.), venture capital investment and M&A support in the U.S., research and study at a think tank, and PMI, production/development, SI, etc. at a leading manufacturer. He has a MS in Bioinformatics from the University of Maryland, an MBA from the University of Pennsylvania, and is a CFA. Co-authored three books and published many papers and lectures | |
Takuji Ishida is an Executive Director based in Tokyo. He has been involved in investments including Japan Systems, Blueship, and nobitel (Dr.stretch). Prior to joining Longreach, Takuji was a Managing Director at Polaris Capital Group, a private equity in Japan, where he played key roles in deal originations, transaction execution activities, and value creation for several portfolio companies. Prior to Polaris Capital Group, Takuji worked at Mitsubishi Corporation focusing on investments/project finance in Liquefied Natural Gas projects. Subsequently, at Boston Consulting Group, Takuji was a Project Leader in charge of developing strategies, formulating med-to long-term business plans, and launching new businesses in several sectors.
Takuji received a Bachelor of Laws from Kyoto University and an MBA from The University of Chicago Booth School of Business.
Kosei joined the International Finance Corporation (IFC), a member of the World Bank Group, in 2005. Before joining the current team in Singapore, he was Deputy Representative in Tokyo and Investment Officer at Private Equity and Investment Funds Department in Washington DC. Previously, Kosei worked at the United Nations Development Program (UNDP) in Vientiane, Lao People’s Democratic Republic, and the Sumitomo Bank (currently Sumitomo Mitsui Banking Corporation) in New York, Osaka, and Tokyo. He holds an MBA from Yale School of Management and an LLB from Kyoto University.
Yusuke Ichikawa joined Advantage Partners in March 2003.
He has executed 14 Private Equity and PIPES investments, including highly successful deals such as Nihonkaisui with its bold industry restructuring and Net Protections, a leading Japanese fintech growth stock that went public. He has led industry initiatives within the fund related to digital, B2B services, and healthcare. Currently, he is responsible for and serves on the boards of Nareru Group, Material Group, and Spiral, among other investments in the relevant industries.
Other notable investment angles include.
Turnarounds
Turnaround investments in the former Kanebo, Inc. and Megane Super, Inc. resulted in significant improvements in profitability by improving cost structures and renewing brands.
Owner business succession and roll-up
After taking over the business from the founders, Oishes and Nihon Meika Sohonpo incorporated M&A as a core part of their strategy to integrate and operate multiple B2C brands and achieve margin expansion.
Infrastructure and energy investments
Invested in Neo Corporation, an electricity-saving service provider, and Ecolocity, a leading parking lot operator, to expand its customer base and create value through marketing digitization.
Shohei Akiyama is Partner, a member of NSSK’s five-person Management Committee and is Chief Administrative Officer (“CAO”) at NSSK and is responsible for all the operation functions in NSSK’s Business Support Team (including accounting, tax, legal and compliance functions). Prior to assuming his role as CAO, Shohei was a Director on the Investment Team and has been with NSSK since its founding. Before joining NSSK, Shohei was at JPMorgan Securities Japan Co., Ltd. in their Investment Banking Division. At J.P. Morgan, he was responsible for a number of major transactions for Japanese companies including cross-border M&A and global IPOs. He is a graduate of the University of Tokyo (B.A.).
Reijiro (Ray) Yamamoto, a founding Partner of Integral has over 20 years of experience in investment banking activities including domestic and cross-border M&A, MBOs, LBOs, going-private transactions, debt-restructuring, workouts of multi-national insolvent companies and sales of non-performing loans in Japan, Europe and the US. He is extremely knowledgeable on deal financing issues, having arranged, structured, negotiated financing for numerous transactions.
Mr. Yamamoto began his career with Mitsui Bank (the current Sumitomo Mitsui Banking Corporation (SMBC)) in 1984. In 1990, he joined AT Kearney as a management consultant in Chicago and subsequently, he moved to London in 1991, where he engaged in Sakura Bank’s (currently SMBC’s) structured finance. After 7+ years in London, he returned to Japan in 1998 and joined Sakura Bank’s Mergers and Acquisitions Department (currently SMBC’s M&A firm) where he was in charge of the cross-border M&A group. In 2000, he joined Unison Capital, one of the first buyout funds in Japan. When he was with Unison Capital, he played a key role in the success of Unison’s first fund. He provided advisory services to his portfolio companies often taking on the director role at the companies in which the fund invested.
While at GCA, he structured and closed the MBO of World Co., Ltd., the largest MBO in Japan and also led a lot of landmark M&A deals of Japan such as a US$19 billion worth merger between Hankyu and Hanshin railway companies. He was also an investment committee of Fund I of Mezzanine Corporation, a 100% subsidiary of GCA and the first independent Mezzanine investment firm in Japan.
Mr. Maeda currently serves as a deal leader and director for BE FORWARD CO., LTD. in Sunrise IV as well as Worldplus Inc. in Sunrise III. In addition, he serves as the deal leader and director for Lcode Ltd. in Sunrise II. Previously, he served as a deal leader and director for WORLD PARTY CO., Ltd. in Sunrise III and WORLDTOOL Co., Ltd in Sunrise II. In addition, he was a deal member and director/auditor for MIRIVE Co., Ltd. in Sunrise II as well as a deal member and director for Everlife Co., Ltd. in Sunrise I. Prior to joining the Sunrise team in April 2011, he was an Associate on the Japan private equity team at Kohlberg Kravis Roberts & Co. for 2 years. Mr. Maeda began his career at the Investment Banking Division of Nikko Citigroup Limited ("Nikko Citigroup") where he worked on various M&A and capital markets transactions mainly in the Japanese financial services industry. During his tenure at Nikko Citigroup, he also worked on the financial services M&A team at Citigroup Global Markets Inc. (NY). Mr. Maeda holds both B.S. and M.S. degrees in Engineering from Kyoto University.