J-STAR Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, J-STAR has acquired 1 company. It has also invested in 7 others.

J-STAR’s most common sectors for investment arehealthcare services (11%) and automotive (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (49%) and growth capital (36%). Its largest (disclosed) acquisition occurred in 2016 when it acquired Aisei Pharmacy for $101M.

In the last 3 years, J-STAR has exited 7 companies. The Firm’s most common exit type is trade sale (70%).

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M&A Summary

  • M&A Total Activity47
    • M&A Buy Activity37
    • M&A Sell Activity10
  • Total Sectors Invested 22
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 7

J-STAR Co. Ltd.

Suite 622, Shin-Kokusai Building 6F, 3-4-1 Marunouchi Chiyoda-ku,
Tokyo, 100-0005
Japan
www.j-star.co.jp
info@j-star.co.jp

J-STAR is a private equity and asset management firm focused on acquisitions of small to mid-sized Japanese companies. The Firm does not have any sector preferences and generally looks to commit JPY 1 to JPY 3 billion per transaction. J-STAR was established in 2006 and is headquartered in Tokyo.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Consumer Products, Consumer Services, Energy Services and Equipment, Environmental, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Machinery, Manufacturing, Media, Plastics, Publishing, Retail, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Stake Purchase

Geographic Preferences: Asia/Pacific

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 1,000 3,000
Enterprise Value - -
values in millions of JPY

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.0/yr) # 22 7 1 2 4 1 37
vol $101M $101M
Sell (1.4/yr) # 3 - 3 1 3 - 10
  47

Most Recent M&A

Company Date Value Type
Caregiver Japan Co. Ltd. 2024-03-01 - Growth Capital
Tokyo, Japan · www.caregiver.co.jp
Shin Nippon Kaihatsu Co. Ltd. 2023-12-01 - Trade Sale
Hyogo, Japan · www.eco-snk.jp
SINCERE Corp. 2023-12-01 - Trade Sale
Tokyo, Japan · www.sincerehq.com
Harita Metal Co. Ltd 2023-12-01 - Trade Sale
Toyama, Japan · www.harita.co.jp
Renatus Co. Ltd. 2023-12-01 - Consolidation
Tokyo, Japan · www.renatus-group.co.jp
caname Co. Ltd. 2023-10-31 - Growth Capital
Tokyo, Japan · www.caname.co.jp
Tokuyama Shokai Co. Ltd. 2023-05-22 - Growth Capital
Inazawa, Japan · www.toku-shou.co.jp
Miraie Co. Ltd. 2023-04-20 - Growth Capital
Tokyo, Japan · www.miraie-group.jp
Toy Factory Co. Ltd. 2022-09-15 - Growth Capital
Kani, Japan · www.toy-factory.jp
STAR Logistics Holdings Co. Ltd. 2022-07-01 - Growth Capital
Tokyo, Japan · www.star-logi.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Renatus Co. Ltd. 2023-12-01 Shin Nippon Kaihatsu Co. Ltd. 2023-12-01 3
Tokyo, Japan · www.renatus-group.co.jp Hyogo, Japan · www.eco-snk.jp
Renatus Co. Ltd. 2023-12-01 SINCERE Corp. 2023-12-01 2
Tokyo, Japan · www.renatus-group.co.jp Tokyo, Japan · www.sincerehq.com
Renatus Co. Ltd. 2023-12-01 Harita Metal Co. Ltd 2023-12-01 1
Tokyo, Japan · www.renatus-group.co.jp Toyama, Japan · www.harita.co.jp

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services - - 4 (11%) -
Automotive 3 (13%) - 3 (8%) -
Consumer Services 2 (8%) - 3 (8%) -
Environmental 1 (4%) - 3 (8%) -
Restaurants 3 (13%) - 3 (8%) -
Consumer Products 2 (8%) - 2 (5%) -
Education 2 (8%) - 2 (5%) -
Information Technology 2 (8%) - 2 (5%) -
Retail 2 (8%) - 2 (5%) -
Life Science - - 1 (3%) 101M (100%)
Business Services - - 1 (3%) -
Construction 1 (4%) - 1 (3%) -
Distribution 1 (4%) - 1 (3%) -
Electrical Equipment - - 1 (3%) -
Electronics 1 (4%) - 1 (3%) -
Food 1 (4%) - 1 (3%) -
Insurance - - 1 (3%) -
Internet Software and Services - - 1 (3%) -
Media 1 (4%) - 1 (3%) -
Medical Products 1 (4%) - 1 (3%) -
Semiconductors - - 1 (3%) -
Transportation 1 (4%) - 1 (3%) -
Total 24 - 37 $101M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Japan 24 (100%) - 37 (100%) 101M (100%)
Total 24 - 37 $101M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 13 (54%) - 18 (49%) -
Growth Capital 9 (38%) - 13 (35%) -
Divestiture 1 (4%) - 2 (5%) -
Stake Purchase - - 2 (5%) -
Going Private - - 1 (3%) 101M (100%)
Consolidation 1 (4%) - 1 (3%) -
Total 24 - 37 $101M

Exits by Deal Type

Type Total # Value
Trade Sale 5 (50%) -
Sold to Management 2 (20%) -
Trade Sale - Public Company 2 (20%) -
IPO 1 (10%) -
Total 10 -

Deal Values

buy # Total
$100M to $1B 1 $101M
TOTAL $101M
Largest Aisei Pharmacy Co. Ltd.
$101M (2016-02-05)

M&A Connections

Deals
Acquired from
Strategic(s)
5%
2 (5%)
Exited to
Strategic(s)
70%
7 (70%)

Investor Summary

Investor Type

Asset Manager

Size

Middle-Market

PE Assets

300M USD

Established

2006

Specialist/Generalist

Generalist

Leadership

Gregory Rokuro Hara

CEO & Managing Partner

Hideaki Sakurai

Managing Partner

Kenichi Harada

Managing Partner

Satoru Arakawa

Partner

Tatsuya Yumoto

Partner

FAQ

When was J-STAR Co. Ltd. founded?

J-STAR Co. Ltd. was founded in 2006.

What type of investor is J-STAR Co. Ltd.?

J-STAR Co. Ltd. is an asset manager.

Where is J-STAR Co. Ltd. headquartered?

J-STAR Co. Ltd. is headquartered in Tokyo, Japan.

How much capital does J-STAR Co. Ltd. have under management?

J-STAR Co. Ltd. has 300M USD under management.

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