Tokyo, Japan – February 21, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to sell TOTOKU Inc. (“TOTOKU”), a leading Japanese manufacturer of specialty wires and electronic devices, to SWCC Corporation (“SWCC”), a Japanese manufacturer and supplier of electric wires and cables, and the Development Bank of Japan Inc. The transaction, which is subject to customary regulatory approvals, is expected to close by the end of March 2025.
Carlyle acquired TOTOKU in December 2022 and has since worked closely with management to drive transformative growth. During this period, TOTOKU has further consolidated its position as a leading player in each of its business areas, creating a strong foundation for future sustainable growth.
To effectively navigate the evolving business environment TOTOKU operates in, Carlyle supported the company in restructuring across two distinct business divisions, one focused on the mobility, semiconductor, telecom and AI industries, and the other addressing consumer electronics, alongside other markets. Focused on delivering operational excellence, Carlyle supported the business to strengthen cross-functionality between its marketing, R&D, finance, and corporate divisions. Growth has also been achieved through the introduction of more advanced business management processes and the strengthening of TOTOKU’s global management structure.
Ken Maki, CEO of TOTOKU, said: “Our partnership with Carlyle represents an important phase in our growth story. We have benefitted from working alongside a global financial partner with extensive management and industry expertise and an established track record of scaling Japanese businesses. We look forward to continuing our development with our new partner SWCC and are excited to leverage the opportunities created by our complementary product portfolios and shared strategic areas of focus.”
Toshihiko Nishizawa, a Managing Director in the Carlyle Japan advisory team, said: “We are delighted to have supported TOTOKU, working closely alongside CEO Ken Maki and his team, to realize transformational growth. We believe that we have provided TOTOKU with a strong foundation for future growth and look forward to seeing the company continue to go from strength to strength alongside its new strategic partner, SWCC.”
The sale of TOTOKU builds on Carlyle’s well-established track record of investing in the General Industries sector in Japan, delivering strong business growth and value creation across its portfolio companies. Investments in this space include Rigaku, Enewill, Kokusai Kogyo, and SENQCIA. Across all sectors, Carlyle’s Japan buyout platform has committed capital of more than JPY 1 trillion and completed 41 private equity investments since 2000.
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About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With US$441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.
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