<article>Asset manager <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/clsa-capital-japan-contact-lens-el-dorado-75634/" target="_blank" rel="noopener">CLSA Capital Partners</a>-backed Japanese contact lens company Lcode Ltd has acquired a 100 per cent stake in Tokyo-based companies PCN Inc and EYE QUALITY Co Ltd in bolt on acquisitions.</article>

Asset manager <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/clsa-capital-japan-contact-lens-el-dorado-75634/" target="_blank" rel="noopener">CLSA Capital Partners</a>-backed Japanese contact lens company Lcode Ltd has acquired a 100 per cent stake in Tokyo-based companies PCN Inc and EYE QUALITY Co Ltd in bolt on acquisitions.
The financial terms of the deal were not disclosed.
The acquisition is being conducted through CLSA&#8217;s Japan dedicated private equity strategy <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/sunrise-capital-iii-acquires-japans-household-appliance-e-commerce-firm-moa-94431/" target="_blank" rel="noopener">Sunrise Capital II</a>, an announcement said on Wednesday.
The Sunrise fund has been consistently making acquisitions in the beauty contact lens industry. Last year, it had invested in Japan-headquartered El Dorado Co Ltd, Lcode Ltd and Hong Kong-headquartered CANDY MAGIC International Limited, part of the El Dorado Group that specialises in the design, manufacture and sales of beauty contact lenses.
PCN specialises in distributing “TeAmo” beauty contact lenses through its e-commerce platform and claims to be highly regarded by consumers for high quality but reasonably priced products. Meanwhile EYE QUALITY manages and distributes multiple brands of beauty contact lenses, including “Quore”, through its business-to-business wholesale channel and engages in contract manufacturing as an OEM.
Sunrise Capital series vehicles are known to invest in established, mid-cap companies with strong growth potential in Japan. Sunrise Capital has completed investments in 15 companies since its establishment in 2006.
Sunrise II also has a successor fund Sunrise III that closed last year in May and has been seen actively making acquisitions since then. Some of its acquisitions include Japanese household appliances e-commerce business MOA Group and most recently Tokyo-headquartered NHOSA Corporation, an electronic health record (EHR) system provider.
CLSA Capital Partners has more than $4 billion under management and offices across the region, including Hong Kong, Singapore and Tokyo.
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Asset manager CLSA Capital Partners-backed Japanese contact lens company Lcode Ltd acquires 100 per cent stake in Tokyo-based companies PCN Inc and EYE QUALITY Co Ltd.

CLSA Sunrise II-backed Lcode buys two Tokyo eyecare firms

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CLSA Sunrise II-backed Lcode buys two Tokyo eyecare firms

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