Tokyo, (ANTARA News/PRNewswire-AsiaNet) - The Taiyo Fund announced today that it had accumulated a position in excess of 5% in Roland Corp (TSE:7944) to become its fifth 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: "Roland's superior digital technology and flexible production system make it a leader in high-end electronic musical instruments and large-format printers. We are excited about Roland's role as a leader in the digital revolution of concert halls and production studios with its ground-breaking Digital Snake and V-Mixer products.
"I am impressed by President Tanaka's strategic direction and we look forward to supporting Roland in achieving that vision."
Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said: "With the increasing popularity of digital instruments, such as e-drums, as well as Roland's exposure to the high-growth printer business of its subsidiary, we see significant upside for this innovative company as it continues to cultivate new markets."
Mr. Hidekazu Tanaka, President of Roland, commented: "As a company that at its core is committed to promoting musical culture, Roland's name is synonymous with 'music.' We strive to do our 'BEST' to be an organization that inspires 'Cooperative Enthusiasm' among all our stakeholders. We are honored that the Taiyo Fund supports our core vision and company philosophy, and is taking a positive long-term view of our company. We continue to work for all our shareholders towards raising our corporate value in a transparent way."
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: Taiyo Fund
CONTACT: Brian K. Heywood, +1-831-372-9601,
bheywood@tppllc.com; or
Wilbur L. Ross, +1-212-826-2111, wlross@wlross.com, both for 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: "Roland's superior digital technology and flexible production system make it a leader in high-end electronic musical instruments and large-format printers. We are excited about Roland's role as a leader in the digital revolution of concert halls and production studios with its ground-breaking Digital Snake and V-Mixer products.
"I am impressed by President Tanaka's strategic direction and we look forward to supporting Roland in achieving that vision."
Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said: "With the increasing popularity of digital instruments, such as e-drums, as well as Roland's exposure to the high-growth printer business of its subsidiary, we see significant upside for this innovative company as it continues to cultivate new markets."
Mr. Hidekazu Tanaka, President of Roland, commented: "As a company that at its core is committed to promoting musical culture, Roland's name is synonymous with 'music.' We strive to do our 'BEST' to be an organization that inspires 'Cooperative Enthusiasm' among all our stakeholders. We are honored that the Taiyo Fund supports our core vision and company philosophy, and is taking a positive long-term view of our company. We continue to work for all our shareholders towards raising our corporate value in a transparent way."
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: Taiyo Fund
CONTACT: Brian K. Heywood, +1-831-372-9601,
bheywood@tppllc.com; or
Wilbur L. Ross, +1-212-826-2111, wlross@wlross.com, both for Taiyo Fund/
COPYRIGHT © 2008
No comments:
Post a Comment