Tokyo, (ANTARA News/PRNewswire-AsiaNet0 - The Taiyo Fund announced today that it has accumulated a position in excess of 5% in Nabtesco Corp (6268) to become its fourth largest shareholder.
The Taiyo Fund is known for its cooperative investment style working with senior management to enhance shareholder value.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, "We are impressed by Nabtesco's strong management team and are excited for the company to enter the next stage of its Long-Term Vision focused on global growth. We highly value our friendly and interactive relationship with management and are confident they will generate ongoing value for shareholders."
Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said, "As the world's leading maker of precision reduction gears, Nabtesco is very well positioned as manufacturers across the globe adopt labor-saving factory automation equipment. We are proud to be invested in this global niche leader and high quality company."
Mr. Kazuyuki Matsumoto, President of Nabtesco, commented, "I am very pleased that a long term friendly investor like Taiyo Fund positively evaluated our technology-driven firm. In addition, I am grateful to receive their insightful comments from a shareholders' perspective."
The Taiyo Fund was organized in July 2003 with an initial equity investment of $200 million by CalPERS, the State of California Public Employees Retirement System. The Fund currently has over $1.4 billion under management. The Fund is co-managed by Taiyo Pacific Partners LP and by WL Ross & Co. LLC. Taiyo Pacific Partners, located in Monterey, California, was founded in 2003 by bilingual professionals dedicated to friendly shareholder activism in Japan.
SOURCE: The Taiyo Fund
CONTACT: Brian K. Heywood,
+1-831-372-9601,
bheywood@tppllc.com, or
Wilbur L. Ross,
+1-212-826-2111,
wlross@wlross.com,
for The Taiyo Fund
The Taiyo Fund is known for its cooperative investment style working with senior management to enhance shareholder value.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, "We are impressed by Nabtesco's strong management team and are excited for the company to enter the next stage of its Long-Term Vision focused on global growth. We highly value our friendly and interactive relationship with management and are confident they will generate ongoing value for shareholders."
Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said, "As the world's leading maker of precision reduction gears, Nabtesco is very well positioned as manufacturers across the globe adopt labor-saving factory automation equipment. We are proud to be invested in this global niche leader and high quality company."
Mr. Kazuyuki Matsumoto, President of Nabtesco, commented, "I am very pleased that a long term friendly investor like Taiyo Fund positively evaluated our technology-driven firm. In addition, I am grateful to receive their insightful comments from a shareholders' perspective."
The Taiyo Fund was organized in July 2003 with an initial equity investment of $200 million by CalPERS, the State of California Public Employees Retirement System. The Fund currently has over $1.4 billion under management. The Fund is co-managed by Taiyo Pacific Partners LP and by WL Ross & Co. LLC. Taiyo Pacific Partners, located in Monterey, California, was founded in 2003 by bilingual professionals dedicated to friendly shareholder activism in Japan.
SOURCE: The Taiyo Fund
CONTACT: Brian K. Heywood,
+1-831-372-9601,
bheywood@tppllc.com, or
Wilbur L. Ross,
+1-212-826-2111,
wlross@wlross.com,
for The Taiyo Fund
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