1st JPEA Awards (FY2014) | JPEA
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1st JPEA Awards (FY2014)

Winning deals

Prize for Regional Impact

Prize Prize for Regional Impact
Recognized Deal/Company Sokan CO., LTD.
Fund Ant Capital Partners Co., Ltd.
Reason for selection The deal spurred local creation with private equity funding. Private equity helped revitalize the growth of local companies not only through business succession plans, but also by contributing to stimulating the local economy by collaborating with the regional financial institution.
The project has a significant presence in the region as a successful example of business succession using private equity financing and has helped to foster a growing level of interest among local business owners with business succession needs.

Prize for Supporting Local Traditional Industry

Prize Prize for Supporting Local Traditional Industry
Recognized Deal/Company TACHIKICHI CORP.
Fund New Horizon Capital Co., Ltd.
Reason for selection Private equity provided growth capital that helped protect a traditional Japanese industry. Funding a company founded 262 years ago not only revived the company, but also helped many kiln makers and wholesalers that produce ceramics, as well as the excellent traditional Japanese industry that is ceramics. The deal was awarded the Prize for Supporting Local Traditional Industry because it supports companies and people engaged in a traditional industry and we expect this kind of investment action to succeed.

Prize for Industrial Structure Reform

Prize Prize for Industrial Structure Reform
Recognized Deal/Company Bushu Pharmaceuticals Ltd.
Fund Tokio Marine Capital Co., Ltd.
Reason for selection The deal paved the way to reforming the industrial establishment with private equity funding. The private equity initiative not only achieved growth, from a pharmaceutical company to carved-out individual enterprises, but also effected a business merger in the industry. Furthermore, this had an innovative impact on Japan's pharmaceutical industry. It created the first true contract manufacturing organization (CMO) platform in Japan capable of powerful support, in terms of production and formula development, for the recent trend among major global drugmakers of concentrating business resources in new drug development. This had a major impact on reforming the industrial establishment.

Private equity investment paves the way for industrial restructuring. The private equity initiative not only enabled the growth of individual companies that were carved out of the pharmaceutical industry, but also enabled the integration of businesses in the target industry. This has had a revolutionary impact on the Japanese pharmaceutical industry. In response to the recent trend of major domestic and foreign pharmaceutical companies focusing their resources on new drug development, a full-scale CMO (contract manufacturing organization) platform was created for the first time in Japan that can provide strong support in terms of manufacturing and formulation development, thereby having a significant impact on industry restructuring.

Prize for Brilliant Creation with Partners

Prize Prize for Brilliant Creation with Partners
Recognized Deal/Company VOYAGE GROUP Inc.
Fund Polaris Capital Group Co., Ltd.
Reason for selection Support from private equity put shareholders, management, and employees into the same boat so that they could act as a single crew in creating a new stage. Although this was an MBO deal providing comprehensive support to the management team in terms of capital, the business, and corporate culture, with the intent of making the company independent of its parent, the private equity firm burnished its image by respecting the existing corporate culture and getting management and employees to work together to achieve the end goal of an IPO.

This is a case in which private equity support enabled the shareholders, management, and employees to board one ship and create a new stage together as a crew. This was a so-called MBO deal in which the private equity firm supported the management team, which wanted to become independent from the parent company, from all aspects: financial, business, and corporate culture. The private equity firm respected the existing corporate culture and worked with the management team and employees to achieve its goal of an IPO, making the Company shine brightly.

Selection Panel


Toshiko Oka
Chief Executive Officer/Deal Strategy
PricewaterhouseCoopers Deals Advisory Inc.


Takeshi Kadota
Kadota &Co


Hiroshi Nonomiya
crosspoint advisors


Hirokazu Yagi
Managing director
SECOM Pension Fund