Taiyo Pacific Partners announced today that it has accumulated in excess of 5% in ZENKOKU HOSHO Co., Ltd. (7164). 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, “We love companies that own their niche. ZENKOKU HOSHO is the largest independent mortgage guarantor in Japan and President Ishikawa has been able to consistently grow market share. I believe his focus on creating value will lead to a satisfied customer base and satisfied shareholders.”
Michael A. King, Chief Investment Officer and Managing Partner of Taiyo Pacific Partners, said, “We have been watching ZENKOKU for years and have been impressed by their ability to keep credit costs low and margins among the highest level in Japan. This is a unique, under-valued company delivering stable growth that seems to be under-covered due to the lack of no direct, listed competitors. We believe as President Ishikawa and his team continue to execute on the fundamentals and enhance ZENKOKU’s equity story, the company will attract more investor interest and take its deserved place as a core holding given ZENKOKU HOSHO’s importance to the Japanese financial system as a whole.”
President Eiji Ishikawa commented, “Through our business of mortgage guarantees we “help customers realize their dreams and happiness”, and have contributed to the development of local communities across the country. We will celebrate our 40th anniversary this February. As we reach this milestone, I really appreciate Taiyo Pacific Partners’ investment in our company. They of course appreciate our business and management philosophy, but also our stance to increase corporate value. Going forward we will make every effort to expand our business further and grow our corporate value even more while remaining aware of our responsibilities as a credit guarantee company.”
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 over $3.5 billion in Japan-focused funds. All strategies employ a friendly engagement approach.
Taiyo Pacific Partners
Brian K. Heywood, 425-896-5300