KOHJIN Film & Chemicals Co., Ltd.

Investment timing: 2021/8
Deal type: Carve-Out
Fund: AG III Series Funds
Status: Exit

Investment Background

Kohjin Film & Chemicals manufactures and sells plastic films used mainly for food packaging and lithium-ion batteries and is a major player in the market. Aspirant Group invested in the company in response to the business carve-out needs of its parent company, Mitsubishi Corporation, with the theme of sustainable growth by becoming a standalone company/strengthening profitability.

Post-Investment Activities

Development of Infrastructure

• Development of an accounting management system
• Design/management of meeting structure

Rationalization

• Reallocation of Management Resources (Improvement of sales mix based on product profitability analysis)
• Improvement in Productivity – Cost reductions (Reduction of external expenses by promoting in-house production and reviewing each SG&A expense item)
• Pricing Strategy (Implementation of appropriate pricing reflecting cost fluctuations)

Support for Growth

• R&D/Capital Investment (Development of new products using raw materials with lower environmental impact)

Exit

The buyer, JCCP is a Japan-China joint venture fund, which aims to support the development of overseas businesses of portfolio companies and increase their corporate value by leveraging its knowledge and networks, mainly in the Asia-Pacific region. In 2024, we reached an agreement with JCCP based on their interest in KOHJIN Film’s potential to further grow the lithium-ion battery business in addition to its stable profitability in the food and daily goods application.