CITIC Capital Partners Sells Narumi to Ishizuka Glass

Date: 22 December 2014

CITIC Capital Partners (“CITIC Capital”), the private equity arm of CITIC Capital Holdings Limited, is pleased to announce that it has agreed to sell all of the shares of Narumi Corporation (“Narumi”) held by its funds to Ishizuka Glass Co., Ltd. (“Ishizuka Glass”).

The investment was made through CITIC Japan Partners L.P., CITIC Capital Partners’ first Japan buyout fund.The final deal closing date is planned for 9 January 2015.

This is the fourth exit for CITIC Capital Partners Japan funds, which focus on supporting Japanese medium size companies in their efforts at international expansion, particularly to China.

Founded in 1950, Narumi is one of the world’s preeminent bone china and tableware brands. The company has revenues of over JPY10 billion a year.

In September 2006, Narumi conducted a management buyout (MBO) from the former Sumitomo Metal Industries, Ltd. (currently Nippon Steel & Sumitomo Metal Corporation) with investment support from CITIC Capital. Since then, Narumi has weathered tough market conditions resulting from the decline in consumer demand caused by the 2008 global financial crisis and the earthquake and tsunami in 2011.

However, with the support of CITIC Capital, Narumi has expanded during the difficult environment through strengthening its brand and global manufacturing capabilities. CITIC Capital has also successfully introduced Narumi products to the China market, where it is now recognized as a leading tableware brand with a growing sales base.

Ishizuka Glass engages in the production and distribution of glass containers, glass tableware, paper packages, plastic containers, and ceramic products. Both Ishizuka Glass and Narumi are headquartered in the Aichi Prefecture of Japan.

Hironobu NAKANO, Head of CITIC Capital Partners Japan Limited, said: “By connecting the strength of Narumi’s brand, sales network, customer base, and other managerial resources, we have been able to work with Narumi to grow its business. We expect the growth to continue with their new ownership structure as Narumi and Ishizuka Glass have tremendous synergies in their businesses and company values.”

About Narumi Corporation

Established :December, 1950

Representative :Rikizo MATSUKAWA, President and Representative Director

Head Office :3 Denjiyama, Midori-ku, Nagoya, Aichi, 458-8530 Japan

Website :http://www.narumi.co.jp/

About Ishizuka Glass

Established :April, 1941

Representative :Hisatsugu ISHIZHUKA, President

Head Office :1880, Kawai-cho, Iwakura-shi, Aichi 482-8510 Japan

Website :http://www.ishizuka.co.jp/

About CITIC Capital Holdings Limited

Founded in 2002, CITIC Capital Holdings Limited, is an alternative investment management and advisory company. The firm manages over USD4.4 billion of capital from a diverse group of international institutional investors. Core businesses include Private Equity, Real Estate, Structured Investment & Finance, Asset Management and Venture. CITIC Capital currently employs over 200 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York. It is owned by CITIC Group, the largest Chinese conglomerate, China Investment Corporation, China’s sovereign wealth fund, and Qatar Holding LLC. For more information, please visit www.citiccapital.com.

About CITIC Capital Partners

CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, operates in China, the United States and Japan, and currently manages USD2.6 billion of committed capital on behalf of over 60 international investors. CITIC Capital Partners’ funds invest globally and work with management teams to help companies realize their full potential.

600450 CITIC Capital Partners Sells Narumi to Ishizuka Glass glassonweb.com

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