Taiyo Pacific Partners Becomes Major Shareholder in JIN Co., Ltd. with Stake over 5%
TOKYO--(Business Wire / Korea Newswire) November 09, 2015 -- Taiyo Pacific Partners announced today that it has accumulated in excess of 5% in JIN Co., Ltd. (3046) to become JIN’s third largest shareholder. Taiyo Pacific Partners is known for its cooperative investment style working with senior management to enhance shareholder value.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, “I love President Tanaka’s bold move to shake up the eyewear industry. His disruptive model is proving successful and I believe it will create a dynamic change in the way consumers buy glasses, not only in Japan...but watch the impact of this company in China, the US and beyond. We fully expect the JIN team to come up with new and exciting ways to shape the industry. We will be watching for further innovation in retail, functionality and of course fashion. The viability of the JIN concept was driven home to me when I noticed that a significant number of our staff have switched over to JINS glasses without any prompting. iPhones have that kind of moving power but seldom do you see it in a pair of eye glasses.”
Michael A. King, Chief Investment Officer and Managing Partner of Taiyo Pacific Partners, said, “JIN has achieved an extremely high growth rate while generating stable cash flow by bringing its innovative, low-priced model and functional eyewear products into the mature Japan eyewear retail market. I recently bought a pair of JINS glasses during my visit to Tokyo and the consultative purchase process was fast and convenient. I left the store with a new vision for how much growth potential there is not only within Japan, but from global expansion as well.”
President Hitoshi Tanaka commented, “Taiyo Pacific Partners takes a long-term view and we are pleased they have come to understand our business strategy and future potentials. We will work to meet shareholders’ high expectations through growing as a global eyewear brand and raising our corporate value.”
Taiyo Pacific Partners, located in Kirkland, Washington, was founded in 2003 by Asia-focused professionals dedicated to friendly shareholder activism in Japan and other Asian countries. The firm currently manages approx. $2.2 billion in Japan focused funds. All strategies employ a friendly activist approach. Investors include US, Japanese and European pension plans, endowments and other institutional investors.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151105007079/en/
Taiyo Pacific Partners
Brian K. Heywood
This is a news release distributed by Korea Newswire on behalf of this company. Learn more