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KKR’s Chip Play Will Win Big in Japan
  + stars: | 2023-10-24 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Kokusai Electric’s technology and manufacturing center in Toyama, Japan. Photo: Soichiro Koriyama/Bloomberg NewsPrivate-equity giant KKR has scored a win in Japan, and with a chip price rebound probably around the corner, their timing looks impeccable. Semiconductor equipment maker Kokusai Electric will start trading Wednesday in Tokyo after raising around $720 million in an initial public offering last week. Kokusai is valued at $2.8 billion at its IPO price, potentially netting KKR a return of more than 60% in Japanese yen terms, excluding leverage. Kokusai unloaded its video and communications systems business after KKR’s takeover.
Persons: Soichiro Koriyama Organizations: Bloomberg, Private, KKR, Semiconductor, Kokusai, Dealogic, Hitachi — Locations: Toyama, Japan, Tokyo
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