Tasaki Purchased by Equity Firm MBK Partners

[pbazar]

Tasaki is to be purchased by private equity firm MBK Partners. The firm will invest ?7 billion ($65 million) to become the controlling shareholder in Tasaki.MBK proposes Tasaki to close all unprofitable store and offices, down size including personel They intend to promote Tasaki brand expanding the sales network mainly in China and Asian market.
All the executives of the old Tasaki establishment will be forced out of their offices except Shodai Tasaki who played an important role in arranging this project. Mr. ShunsakuTasaki may possibly remain as the founder of the firm but his brothers, Seijiro & Tojiro, present president and vice?president will be kicked out as well as his son, Toshiaki and the former executive vice president Mr. Uyeda.

Tasaki?s gross sales during the bubble period was 400 oku yen ? 40 billion yen. Their sale as of Ccbober 2008 was 29 billion yen. Their stock(inventory) is 39 billion and thier debt comes to 36 billion yen as of today.

 

[pearlescence]

Stock seems very high as a ratio to debt .
I don't know them as a company, what sort of pearls (I am assuming pearls) did they deal in, what market, how big
Buying stock is easy peasy, it is selling it that is hard!

 

[Mka4972]

Tasaki is one of the larger pearl dealers in Japan.. They also have thier own retail business.

 

[pearlescence]

So, beyond the bare financial iffy over-stock possibility why has the family sold (been sold out?)
Time to retire..doesn't seem to be a lack of family who used to work in the business. From
Imperial's initial post it does look as if it was over-expanded

 

[pbazar]

Tasaki

Tasaki

Tasaki is the second largest pearl company in Japan with world wide operations. they have a farm in Myanmar and are headquartered in Kobe. It is significant event in the pearl world

divisions:
Tasaki Shinju (Hong Kong) Ltd.
Asia Tasaki Pearl Co., Ltd.
Tasaki Jewellery (Shanghai) Co., Ltd.
Tasaki Korea CO.,LTD.
Tasaki U.S.A. INC.
MYANMAR TASAKI CO., LTD.
Tasaki Euro N.V.

 

[pearlescence]

Thanks much for that info...I've not had any contact or commerce with the japanese side of pearls (at least knowingly)

 

[Raisondetre]

From memory Tasaki deal mainly in Akoya, but they also sell SS and Tahitians, to a lesser extent freshwaters. Way overpriced, or are we too spoilt? Judging from the economy in Japan now I'm not surprised they're in debt. Nice pearls, just not a necessity ...