CLSA’s Sunrise Capital partially divests stake in Japan’s NHOSA Corporation

Photo by Hush Naidoo on Unsplash

Sunrise Capital III, a Japan-focused fund of pan-Asia investment firm CLSA Capital Partners, has partially divested its ownership in NHOSA Corporation, the Tokyo-based electronic health record (EHR) system developer for dental clinics and medical institutions, according to a press announcement.

Tokyo Stock Exchange-listed EM Systems, an IT service provider to clinics, acquired the stake. The value of the transaction remained undisclosed.

Following the current transaction, Sunrise Capital III will continue to retain a majority stake. There will be no material changes to NHOSA’s management team, company name and business operations.

Sunrise III acquired the company in April 2018 through an MBO with the current management team.

NHOSA Corporation also researches and develops, manufactures, distributes and provides maintenance services of medical information processing systems as an OEM supplier.

Sunrise Capital, which targets opportunities in the mid-cap buyout sector in Japan, has raised approximately $1.5 billion to date and completed investments in approximately 30 companies including both standalone and follow-on investments since its establishment in 2006.

Earlier this month, Sunrise Capital III had acquired a majority stake in Tokyo-based specialist management and IT consulting firm Rise Consulting Group.

Sunrise III was closed at $400 million in 2017, followed by a fourth vehicle that closed at $450 million in September last year. Meanwhile, the second Sunrise Capital fund recently exited outsourcing services company Qit Co after a three-year holding period.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.