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#34 tallyman Das ist die 1000 Dollarfrage. Ich sehe den Aufwärtstrend noch nicht gebrochen. Reuters Japan investment firm Jafco plans $1.17 bln funds Monday November 3, 11:33 pm ET TOKYO, Nov 4 (Reuters) - Japanese venture capital company Jafco Co Ltd (Tokyo:8595.T - News) said on Tuesday that it plans to set up 130 billion yen ($1.17 billion) worth of private equity funds next year -- its biggest-ever such investment. Jafco, which had investment assets totalling 162.8 billion yen as of September 30, said the planned equity funds would target unlisted Japanese companies as well as U.S. and Asian biotechnology and high-tech startups. The firm will collect the first batch of investments for the funds in March and the last one within six months after that, Jafco spokesmen said. The firm will seek money from domestic insurers, banks and corporations as well as global pension funds. Of the total, Jafco will invest 50 billion yen each in an ordinary venture capital fund and a management buyout fund. It will also invest a combined 18 billion yen in two funds that specifically target Japanese and U.S. biotechnology companies, and 12 billion yen in Asian high-tech venture startups. Private equity funds -- whereby investors take equity stakes in troubled firms and sell them at a profit after steering them back to prosperity -- have been on the rise in Japan. A growing number of buyout funds -- foreign and domestic -- are on the lookout for deadbeat firms that are being forced to sell by their creditors. In August, U.S. investment firm Ripplewood Holdings inked an eye-opening $2.2 billion deal to buy Vodafone Group`s (London:VOD.L - News) fixed-line telecoms business in Japan -- the country`s biggest private equity investment deal. The recent stock market recovery has in general brightened business prospects for venture capital firms in Japan by helping to boost unrealised gains in their investment portfolio and making it easier for them to make a profitable exit. Shares in Jafco have gained 77 percent in value since January, outperforming a 27 percent rise by Tokyo`s broad-based TOPIX index (^TOPX - News) in that period. Jafco ended the Tokyo morning session down 3.51 percent at 9,070 yen on Tuesday. Still, the market`s recovery has yet to translate into a solid earnings gain at Jafco, which on Friday posted a group net loss of 2.59 billion yen for the first half of 2003/04 that ended in September against a year-ago profit of 231 million yen. Jafco`s half-year revenues were down 60 percent from a year ago. Its first-half earnings took a blow from losses on share sales and increased charges against non-performing investment portfolios. ($1=110.84 yen) |
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| aus der Diskussion: | Jafco vor Comback ? |
| Autor (Datum des Eintrages): | gaethje (04.11.03 16:07:33) |
| Beitrag: | 35 von 461 (ID:11229716) |
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