Global investment firm Carlyle has announced the sale of TOTOKU Inc., a Japanese manufacturer of specialty wires and electronic devices, to SWCC Corporation and the Development Bank of Japan Inc. The transaction is pending customary regulatory approvals and is expected to finalize by the end of March 2025.
Carlyle acquired TOTOKU in December 2022 and has since worked closely with its management to foster significant growth. Under Carlyle’s guidance, TOTOKU has consolidated its market position across various business sectors, laying a foundation for sustainable growth. The company was restructured into two distinct divisions focusing on mobility, semiconductor, telecom, AI industries, and consumer electronics.
Ken Maki, CEO of TOTOKU, remarked on the partnership with Carlyle: “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 from the Carlyle Japan advisory team expressed satisfaction with their collaboration: “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 marks another milestone in Carlyle’s history of investments in Japan’s General Industries sector. Since 2000, Carlyle’s Japan buyout platform has committed over JPY 1 trillion in capital across 41 private equity investments.
