KKR to list Japan's Kokusai Electric as early as June, sources say By Reuters

Gold: Pop the $2,000 Champagne But Keep Another Chilled for that Record High

KKR to list Japan's Kokusai Electric as early as June, sources say

Stock Markets Apr 08, 2022 04:05AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

KKR to list Japan's Kokusai Electric as early as June, sources say

+3.34%

Add to/Remove from Watchlist

AMAT

-2.73%

Add to/Remove from Watchlist

SMFG

+1.65%

Add to/Remove from Watchlist

KKR

+5.22%

Add to/Remove from Watchlist

HTHIY

-0.07%

Add to/Remove from Watchlist

By Miho Uranaka

TOKYO (Reuters) -U.S. private equity firm KKR & Co (NYSE:KKR) Inc plans to take Japanese chip equipment maker Kokusai Electric Corp public in an IPO as early as June, three sources said, in what is likely to be Tokyo's biggest listing in more than three years.

While the size of the initial public offering was not immediately clear, one of the sources said Kokusai Electric would likely list with a market value of around 700 billion yen ($5.67 billion).

That would make it the biggest company to list in Tokyo since SoftBank Group Corp listed its telecom unit with a market value of 7.2 trillion yen in late 2018, according to Refinitiv data.

The Tokyo bourse is set to approve the listing as early as May, according to the three sources, all of whom declined to be identified because the matter was still private.

Lead underwriters include SMBC Nikko Securities, a unit of Sumitomo Mitsui (NYSE:SMFG) Financial Group, and Goldman Sachs Group Inc (NYSE:GS), two of the sources said.

KKR plans to sell part of its stake to domestic and overseas investors, according to the three sources.

KKR, Kokusai Electric, the Tokyo Stock Exchange, SMBC Nikko and Goldman Sachs all declined to comment.

Kokusai Electric was spun off from Hitachi (OTC:HTHIY) Kokusai Electric Inc in June 2018.

The planned listing comes after U.S. firm Applied Materials (NASDAQ:AMAT) terminated its $3.5-billion deal to buy Kokusai Electric in March last year after failing to obtain regulatory approval from China.

Kokusai Electric said at the time it would continue to seek strategic partners and that an IPO would be an option.

KKR initially aimed for an IPO in March, but decided to delay as Russia's invasion of Ukraine and higher U.S. interest rates hit the global stock market.

Kokusai Electric, a maker of equipment for thin film formation, reported operating profit of 60 billion yen on sales of 178 billion yen in the year ended March last year.

Global demand for chip equipment has surged as semiconductors are being used in everything from artificial intelligence, self-driving cars and other new technology.

Global sales of total semiconductor manufacturing equipment by original equipment manufacturers reached a new high of $103 billion in 2021, surging 44.7% from the previous industry record of $71 billion in 2020, according to industry group SEMI.

($1 = 123.6900 yen)

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

US 30	32,484.2	+239.6	+0.74%
US 500	3,985.6	+34.0	+0.86%
Dow Jones	32,477.85	+233.27	+0.72%
S&P 500	3,986.75	+35.18	+0.89%
Nasdaq	11,774.56	+99.02	+0.85%
S&P 500 VIX	21.86	-2.29	-9.48%
Dollar Index	102.802	-0.131	-0.13%

Crude Oil WTI	68.83	+1.01	+1.49%
Brent Oil	74.78	+0.99	+1.34%
Natural Gas	2.189	-0.034	-1.53%
Gold	1,951.65	-31.15	-1.57%
Silver	22.438	-0.208	-0.92%
Copper	3.9817	+0.0302	+0.76%
US Soybeans	1,488.62	+2.62	+0.18%

U.S. 10Y	3.568	+0.091	+2.61%
U.S. 30Y	3.725	+0.063	+1.72%
U.S. 5Y	3.7029	+0.1330	+3.72%
U.S. 3M	4.7817	+0.1620	+3.50%
US 10Y T-Note	114.41	-0.69	-0.60%
Euro Bund	136.21	-1.61	-1.17%
10-2 Yield Spread	-48.86	0.00	0.00%

Apple	157.46	+0.06	+0.04%
Alphabet A	102.97	+1.75	+1.72%
Tesla	193.98	+10.73	+5.86%
Amazon.com	99.08	+1.37	+1.40%
Netflix	304.13	-1.00	-0.33%
Meta Platforms	198.42	+0.61	+0.31%
Bank of America	28.90	+1.15	+4.14%

KKR to list Japan's Kokusai Electric as early as June, sources say

Related Articles