Houlihan Lokey Advises Rising Japan Equity

Houlihan Lokey is pleased to announce that Rising Japan Equity, Inc. (RJE) has sold Japan Chain Holdings, Inc. (JCH) to Mitsui Matsushima Holdings Co., Ltd. (Mitsui Matsushima) on December 4, 2023.

RJE, the seller, was founded in 2010 as an investment firm with a mission to energize Japan by enhancing the corporate value of Japan’s mid-cap companies with growth potential and competitive edges.

JCH, the target company, is a holding company that houses three major chain manufacturing/sales companies: Sugiyama Chain Co., Ltd., ZEXUS CHAIN Co., Ltd., and MAXCO Chain Ltd. With more than JPY 15 billion in consolidated sales as a group, JCH is one of the leading Japanese producers of large industrial conveyor chains mainly used in manufacturing plants and a major manufacturer of roller chains for power transmission in Japan and the U.S. As a pioneer in the industrial chain business with more than 110 years of experience, it is uniquely positioned to assist customers in addressing their growing needs by providing them with advanced sustainable solutions across nearly any industrial application.

Mitsui Matsushima, the buyer, was founded in 1913 as a company that produces and sells coal. In light of recent global environmental concerns, it has diversified and expanded its business portfolio into new areas through M&A with an emphasis on stable earnings, superiority in niche markets, and “easy-to-understand” businesses.

Houlihan Lokey served as the sole financial advisor to RJE on this transaction. This transaction demonstrates the firm’s global execution capabilities, industry knowledge, and connections in this niche sector.

If you would like more information about Houlihan Lokey or have any questions regarding the firm’s role in this transaction, please contact one of the team members listed below.