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| ROLAND CORPORATION CONDUCTS MBO (MANAGEMENT BUYOUT) IN COOPERATION WITH TAIYO PACIFIC PARTNERS L.P. |
Hamamatsu, Japan, May 14, 2014 - Roland Corporation has announced it will conduct a MBO (Management Buyout) in cooperation with Taiyo Pacific Partners L.P. ("Taiyo") for US$418 million. After this transaction, Roland Corporation will delist from the Tokyo Stock Exchange and focus on rebuilding a stable and strong company.
Since its founding in 1972, Roland has designed many innovative products which are highly acclaimed by music lovers all over the world. However, after recent and rapid changes to the business environment, Roland now faces the need for fundamental reform to create a platform for long-term, sustainable growth. Due to several countermeasures, including the structural reformation in 2012, Roland has been able to achieve a certain amount of improvement in the last fiscal year.
"We, however, need to accelerate our plan by making decisions more quickly and taking the necessary steps to overcome the delay that 4 consecutive years of loss has caused" commented Jun-ichi Miki, Chief Executive Officer and Representative Director of Roland Corporation. After careful consideration, he reached out to Taiyo to discuss the idea of conducting an MBO.
Taiyo is Roland's second largest shareholder and has built a strong relationship with Roland over the past 7 years. In addition, Taiyo has served as a professional business adviser, providing Roland's management team with a series of beneficial suggestions.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, commented, "Roland has a dedicated team of management and employees, and an innovative DNA instilled from its founding. This transaction will enable Roland and current management to build a foundation for long-term strategic growth."
"By conducting a MBO transaction in cooperation with Taiyo, we would like to get back to Roland's roots, being flexible and responsive with a culture of embracing challenge throughout our company." Jun-ichi Miki commented,"With these changes, I would really like to see a 'Rebirth of Roland', focusing on building a new and strong foundation."About Roland Corporation
Roland Corporation is a leading manufacturer and distributor of electronic musical instruments, including keyboards and synthesizers, guitar products, electronic percussion, digital recording equipment, amplifiers, audio processors, and multimedia products. With more than 40 years of musical instrument development, Roland sets the standard in music technology for the world to follow. For more information, visit http://www.Roland.com.
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