Slaughter and May advised TOKIN Corporation on the sale of its electro-mechanical devices business to NTJ Holdings 1 Ltd

Slaughter and May, Hong Kong, as Hong Kong counsel, advised TOKIN Corporation (with Mori Hamada & Matsumoto, as transaction counsel) on the sale of its electro-mechanical devices business to NTJ Holdings 1 Ltd., a special purpose entity that is owned by funds managed or operated by Japan Industrial Partners, Inc.. The transaction involved an internal restructuring within the TOKIN group to house its electro-mechanical devices business in a wholly-owned subsidiary of TOKIN Corporation in Hong Kong, followed by a sale of the shares in the subsidiary to NTJ Holdings 1 Ltd. via a “company split” arrangement under Japan law.

The transaction was completed on 14 April 2017, pursuant to a Master Sale and Purchase Agreement between TOKIN Corporation, NTJ Holdings 1 Ltd. and Japan Industrial Partners, Inc. dated 23 February 2017.

TOKIN Corporation manufactures and sells electronic components in Japan. Japan Industrial Partners, Inc. is a private equity firm specialising in investing in turnaround, buyouts, and carve-out investments.

Mori Hamada & Matsumoto: Kenichi Sekiguchi,Yu Takahasi