Houlihan Lokey Advises NSSK

Houlihan Lokey is pleased to announce that Nippon Sangyo Suishin Kiko Ltd. (NSSK) has sold its portfolio company, Sokan Co., Ltd. (Sokan), to D Capital, Inc. (D Capital). The transaction closed on March 3, 2026.

Founded in 2014, NSSK is a private equity firm focused on Japanese companies. NSSK is composed of professionals with extensive experience in investment and management support at global companies. NSSK is dedicated to supporting Japanese businesses by leveraging global best practices, a diverse talent pool, training systems, and an international network. The firm provides both capital investment and hands-on management support to high-potential Japanese companies, aiming to enhance corporate value and create employment opportunities.

Headquartered in Tochigi, Japan, Sokan is a leading manufacturer of healthy, natural snacks and foods, specializing in products such as seaweed stems, crunchy plums, and dried sweet potatoes. The company holds the number one domestic market share for both seaweed stems and crunchy plums.

Founded in 2021, D Capital is a private equity firm comprising top-class investment and digital transformation (DX) professionals, with a concept that combines the two. D Capital aims to improve industry productivity by providing capital, technology, and networks to small and medium-sized enterprises, thereby strongly supporting the DX of these enterprises.

Houlihan Lokey served as the exclusive financial advisor to NSSK in connection with this transaction. This announcement marks the third transaction in which Houlihan Lokey has advised NSSK in the past four years.

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