ETIC has sold Fuji Technica & Miyazu to Phoenix Capital

Enterprise Turnaround Initiative Corporation of Japan (“ETIC”) has announced that it has signed an agreement to tender all the shares in Fuji Technica & Miyazu Inc. (“FTM”), a world leading automotive stamping die manufacturer based in Japan, in a public tender offer to be launched by Phoenix Capital Co., Ltd. (the acquiring entities are Phoenix Capital Partners Nine LPS and Phoenix Capital Eleven, which are both SPCs established by Phoenix Capital Co., Ltd.), a private equity firm based in Tokyo.

Since September 2010, ETIC implemented the business revitalization plan to turnaround FTM. As FTM recovered its competitiveness and became prepared to stabilize the business as well as pursue growth initiatives, ETIC conducted a process to find a right partner to support FTM’s continued growth.

Lincoln International acted as the financial advisor to ETIC throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.

About Enterprise Turnaround Initiative Corporation of Japan (ETIC)

ETIC is a joint-stock corporation established and authorized by the Japanese government to provide support for the revitalization of operations at mid-sized companies, SMEs and other businesses, that have revitalization potential but are carrying excessive debt. ETIC’s aim is to reinvigorate local economies and help to strengthen the foundations for orderly credit conditions. ETIC’s paid-in capital comprises investments from the Japanese government and private sector financial institutions, majority of which are channeled through the Deposit Insurance Corporation of Japan (totaling approximately ¥20.1 billion). Funds for ETIC’s business operations are procured from the market through government-guaranteed borrowing (guarantee limit of ¥1,699 billion in the fiscal 2012 budget).

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