The private equity arm of J.P. Morgan Chase & Co. Inc. said it had reached agreement to buy a Japanese auto parts subsidiary of Nissan Motor Co. Ltd. for around 10 billion yen ($86 million). Nissan said separately it would sell its 51 percent stake in unlisted auto parts maker Rhythm Corp. as part of its new three-year business plan aimed at cutting debt to zero.
J.P. Morgan Partners (JPMP), the private equity arm of New York-based J.P. Morgan Chase, said that funds managed by J.P. Morgan Asia Equity Advisors would acquire Nissan's stake. JPMP will also acquire the 49 percent stake in Rhythm held by another Nissan components supplier, Unisia Jecs Corp.
The deal will mark JPMP's first management buy-out and second investment in Japan, which it said was aimed at making Rhythm a stronger global player. "JPMP...views Japan as a promising growth market for management buyouts...(and) is targeting sectors, for example auto components, electronics and machine tools, where Japan is competitive globally," the firm said in a statement.
Nissan said it would continue to buy parts from Rhythm after the transaction is completed on August 9. Rhythm, which specializes in steering and suspension parts, had sales of 22.6 billion yen in the year ended in March, and around 1,000 employees.
Some 200 years ago, JP Morgan have evolved to offer the whole spectrum of global banking and financial services and in many cases it was us that helped define them. Yet some things never change. They invented the concept of relationship banking back in the nineteenth century. And, doing first-class business in a first-class way is a principle they still adhere to now.
Today, between the Investment Bank and Asset Management, there are more than 34,000 of us working together around the globe to meet the complex financial needs of corporations, governments, private firms, financial institutions, non-profit organizations, and wealthy individuals. And, since the 2004 merger, our parent company JPMorgan Chase employs some 170,000 people globally, and boasts more than $1.4 trillion in assets.
But don't let our size intimidate you. Being big has big benefits. They have an environment of support, security, and stability where you're given the freedom to develop your career. Our abundance of resources will allow you to take risks where justified and create your own niche in the world of finance, whatever that may be. Our global platform and leadership in a wide array of product offerings mean that wherever you go within JPMorgan, you'll be working with the best in that sector and region.
They have offices in more than 50 countries and clients in more than 100 countries across the world - and are often leading the charge in the markets they operate in. Though born in 1799 in the United States, ours is a truly global organization. Our roots in Europe date back to 1838, for example, though they see our future in the world's emerging markets as much as in the established ones.
Diversity, then, isn't just a buzzword. They expect our graduates to be similarly well-rounded. So don't think that they only employ economics or mathematics graduates. Our people come from many different backgrounds - academically, ethnically or otherwise - and the different skills they bring are absolutely integral to our success, both in the long- and short-term.
J.P. Morgan Partners (JPMP), the private equity arm of New York-based J.P. Morgan Chase, said that funds managed by J.P. Morgan Asia Equity Advisors would acquire Nissan's stake. JPMP will also acquire the 49 percent stake in Rhythm held by another Nissan components supplier, Unisia Jecs Corp.
The deal will mark JPMP's first management buy-out and second investment in Japan, which it said was aimed at making Rhythm a stronger global player. "JPMP...views Japan as a promising growth market for management buyouts...(and) is targeting sectors, for example auto components, electronics and machine tools, where Japan is competitive globally," the firm said in a statement.
Nissan said it would continue to buy parts from Rhythm after the transaction is completed on August 9. Rhythm, which specializes in steering and suspension parts, had sales of 22.6 billion yen in the year ended in March, and around 1,000 employees.
Some 200 years ago, JP Morgan have evolved to offer the whole spectrum of global banking and financial services and in many cases it was us that helped define them. Yet some things never change. They invented the concept of relationship banking back in the nineteenth century. And, doing first-class business in a first-class way is a principle they still adhere to now.
Today, between the Investment Bank and Asset Management, there are more than 34,000 of us working together around the globe to meet the complex financial needs of corporations, governments, private firms, financial institutions, non-profit organizations, and wealthy individuals. And, since the 2004 merger, our parent company JPMorgan Chase employs some 170,000 people globally, and boasts more than $1.4 trillion in assets.
But don't let our size intimidate you. Being big has big benefits. They have an environment of support, security, and stability where you're given the freedom to develop your career. Our abundance of resources will allow you to take risks where justified and create your own niche in the world of finance, whatever that may be. Our global platform and leadership in a wide array of product offerings mean that wherever you go within JPMorgan, you'll be working with the best in that sector and region.
They have offices in more than 50 countries and clients in more than 100 countries across the world - and are often leading the charge in the markets they operate in. Though born in 1799 in the United States, ours is a truly global organization. Our roots in Europe date back to 1838, for example, though they see our future in the world's emerging markets as much as in the established ones.
Diversity, then, isn't just a buzzword. They expect our graduates to be similarly well-rounded. So don't think that they only employ economics or mathematics graduates. Our people come from many different backgrounds - academically, ethnically or otherwise - and the different skills they bring are absolutely integral to our success, both in the long- and short-term.
