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Unison Capital seeks buyer for sushi chain Akindo Sushiro

1 Jun 2012

Japanese private equity firm Unison Capital is looking for a buyer for Akindo Sushiro, the conveyor belt sushi chain it bought five years ago, in a sale that could fetch up to JPY70bn ($893m).

The Tokyo-based firm has hired Mitsubishi UFJ Morgan Stanley to advise on the sale, according to Reuters.

The company’s revenues have grown 69 per cent since the firm’s acquisition in 2005, with JPY99.8bn ($1.28bn) in sales for the year ended September 2011.

Unison Capital recently reduced the size of its third private equity fund by 24 per cent to ¥107bn ($1.4bn) in October due to a lack of deal opportunities.

The investment period for the fund, which closed in 2008 with commitments of ¥140bn, began in 2009 and ends in 2014, during which time the firm expects the market for deals and exits to remain slow.

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