Blackstone offers $3.5 billion for Japan's TechnoPro as deal competition heats up
The world's largest alternative asset manager is offering 507.4 billion yen, or 4,870 yen per share, for TechnoPro, a 17.4 per cent premium to its closing average for the past three months.
Global private equity firms are competing to close deals to take Japanese companies private, following management reforms to tackle low valuations.
Blackstone was up against rival private equity powerhouse Bain Capital in the final round of bidding for engineering staffing firm TechnoPro, three people with knowledge of the matter said.
Last week Swedish investment firm EQT announced a $2.7 billion tender offer for lift-maker Fujitec, while in February KKR took software developer Fuji Soft private after a protracted bidding war with Bain.
Blackstone is looking to expand aggressively in Japan, one of the people said. The sources declined to be named as they were not authorised to speak to the media.
The TechnoPro acquisition marks Blackstone's seventh in Japan and its third private equity deal in 2025, it said in a press statement.
Shares in TechnoPro closed down 2 per cent at 4,876 yen. The Nikkei business daily reported the plan late on Tuesday, saying Blackstone would offer a price below 4,900 yen.
The tender offer is expected to commence on August 7.
($1 = 147.4600 yen)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
5 hours ago
- CNA
Japan Inc split on Trump tariffs as automakers brace for deeper hit
TOKYO: US President Donald Trump's tariffs are cleaving Japan Inc, with some major exporters like Toyota Motor slashing profit forecasts, while others such as Sony and Honda say the impact may be less severe than initially feared. As Trump's levies on global shipments into the United States took effect on Thursday (August 6), Japan's top companies offered a mixed picture of how the tariffs, and a stronger yen are affecting America's fifth-largest trading partner. Uncertainty surrounding the tariffs and their erratic implementation has rattled companies worldwide, as governments scramble to strike deals and shield major exporters from further disruption. While some glimmers of optimism have emerged, Japanese firms remain uneasy about when Trump might lower tariffs on Japanese automobiles and whether new duties will target pharmaceuticals and semiconductors. AUTOMAKERS UNDER PRESSURE A Trump move targeting semiconductors with 100 per cent tariffs on some chip imports hit Japanese supply-chain firms on Thursday, even as shares of other companies with US expansion plans rose. Tokyo on Thursday urged Washington to swiftly implement last month's bilateral agreement to reduce US tariffs on Japanese car imports to 15 per cent, down from the 27.5 per cent in place since Trump's April tariff hike. Two weeks after Trump announced the deal, which he said includes US$550 billion in Japanese investments and loans, Tokyo is still working to clarify its terms, adding further uncertainty for corporate planners. 'It's honestly very difficult for us to predict what will happen regarding the market environment,' said Takanori Azuma, head of finance at Toyota, the world's largest automaker. Toyota cut its operating profit forecast for the business year ending in March by 16 per cent to 3.2 trillion yen (US$21.7 billion), citing the stronger yen and tariff-related costs. Despite the impact, Azuma said the company would continue making cars for US customers. 'Even at this point, incentives are very low and inventory is limited, so many customers are waiting. That's true not only in the US, but also in Japan,' he said. Japanese carmakers have been among the hardest hit by the trade dispute, as they try to avoid raising prices and instead absorb the cost increases in their margins. CHIPMAKERS AND EXEMPTIONS In contrast, Sony raised its full-year profit forecast by 4 per cent to 1.33 trillion yen (US$9 billion), saying the estimated tariff impact had dropped to 70 billion yen, down from 100 billion yen previously. Subaru said the tariff impact on its vehicles had also been reduced but warned it remained significant. Honda on Wednesday (August 5) cut its projected tariff impact by 31 per cent to 450 billion yen, but said 'there are still many unknowns'. As for chips, Trump offered a key exemption: the 100 per cent tariff would not apply to companies manufacturing in the US or committed to doing so. While Japan is the largest foreign investor in the United States — with holdings worth US$819 billion at the end of 2024, according to US government data — its semiconductor industry has been reluctant to commit to large-scale US manufacturing. Shares of Japanese chip equipment maker Tokyo Electron fell 2.7 per cent on Thursday, while testing equipment firm Advantest slipped nearly 1 per cent. By contrast, chipmakers with large US expansion plans posted gains, with Taiwan's TSMC up 5 per cent and South Korea's Samsung rising 2.5 per cent. TRADE BALANCE AND CONCERNS
CNA
5 hours ago
- CNA
Asia First - Thu 7 Aug 2025
02:29:49 Min From the opening bell across markets in Southeast Asia and China, to the biggest business interviews and top financial stories, tune in to Asia First to kick-start your business day.
CNA
6 hours ago
- CNA
More signing up for courses teaching them to build custom AI bots
Ordinary Singaporeans with no coding background are seizing the chance to build their own AI bots. These are tools that can remember routines, automate chores and send reports without being asked. Enrolments for some of these courses have soared nearly 400 per cent since 2023. With AI Singapore promising it can be 'as easy as making a PowerPoint", schools and training providers are racing to meet the surge. Deepika Giri, Associate Vice President at technology consultancy IDC Research, shares more on customised AI assistants.
