Taiyo Pacific Partners Takes Significant Stake in IwaiCosmo Holdings Co, Inc. (8707) to Over 5%

TOKYO, Sept. 14 /PRNewswire/ -- Taiyo Pacific Partners announced today that it has accumulated a position in excess of 5% in IwaiCosmo Holdings Co, Inc. (8707) to become its largest shareholder. Taiyo Pacific Partners is known for its cooperative investment style working with senior management to enhance shareholder value.

Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, "Iwai is an unconventional brokerage.  We have been an investor in Iwai for nearly three years and have been pleased with management decisions and company performance.  Iwai has been innovative in its customer interaction and is taking advantage of the current economic situation to build a solid base for growth through the acquisition of Cosmo Securities. We appreciate management's openness and transparency and we are confident the company will continue to increase shareholder value."

Wilbur L. Ross, CEO of WL Ross & Co., added, "I forecast the fragmented regional brokerages of Japan will be consolidated in the near future and Iwai took a positive first step for further growth. Iwai is one of the leanest brokers in Japan and this acquisition creates shareholder value, enabled by even further cost reductions through system integration and retail store rationalization."

Mr. Yoshiaki Okitsu, President of IwaiCosmo Holdings commented, "We recognize that Taiyo is a friendly long term investor and plays an important role with publicly listed companies as an activist fund. We are honored to be selected among many excellent companies for their portfolio.  We acquired Cosmo Securities this April and are committed to being a big player in the industry, expanding from the Kansai area. We greatly appreciate Taiyo supporting our efforts."

Taiyo Pacific Partners is a pioneer of friendly, activist investing in Japan. Taiyo's first fund, the Taiyo Fund, is co-managed with WL Ross & Co. LLC,  and was organized in July 2003 with an initial equity investment of $200 million. Taiyo Pacific Partners has a total of over $1.7 billion in assets under management. Taiyo Pacific Partners, located in Kirkland, Washington, was founded by bilingual professionals dedicated to friendly shareholder activism in Japan.

SOURCE Taiyo Pacific Partners