Reports suggest Longreach sold on the company for the equivalent of $300m, which would net it almost 2.5 times its original investment in cash terms.
Mitsui said it plans to keep on current SEL chief executive Tsutomu Asano and the rest of the management team following the purchase.
Longreach bought a 95 per cent stake in SEL from Sanyo Electric in July 2010, with the consumer giant keeping the remaining five per cent.
Mitsui said it planned to use SEL to strengthen its own third party logistics business, and planned to acquire the remaining five per cent stake from Sanyo Electric.
The Wall Street Journal reported that in dollar terms – which covers about two thirds of money invested by Longreach – the firm made 2.3 times its initial money, an IRR of 60 per cent.
It added that in yen the company made twice its investment, or a 48 per cent IRR, by cutting costs and adding new clients including Sony and Sharp.
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