Private equity and venture capital firm Tokio Marine Capital Co. Ltd. agreed to divest its stakes in Izumi Products Co. for an undisclosed amount.
Izumi is a Japanese manufacturer of hydraulic tools, hydraulic equipment and consumer electric appliances. It is a portfolio company of the Tokio Marine-managed TMCAP2011 LP fund and the Mercuria Investment Co. Ltd.-managed Mercuria Japan Industrial Growth Fund.
The buyer is an intermediate holding company formed by consumer electronics maker Maxell Holdings Ltd.