Sunrise Capital II divests shareholding in MIRIVE Co., Ltd.



Tokyo – Friday 8 July, 2016 – CLSA Capital Partners, the alternative asset-management arm of CLSA, is pleased to announce that Sunrise Capital II (“Sunrise II”) has completed the sale of all shares of MIRIVE Co., Ltd. (formerly known as BCN Corporation, “MIRIVE” or “Company”) to MR Holdings Ltd. (“MR Holdings”). Sunrise II is a CLSA Capital Partners’ fund that invests into established, mid-cap companies with strong growth potential in Japan.

Sunrise II’s investment in MIRIVE, a used car auction operator headquartered in the Northern part of Greater Tokyo, was completed in May 2013. In the three years post investment, Sunrise II has been instrumental in supporting the Company’s management as well as implementing various initiatives to enhance the quality of MIRIVE’s services. As a result of these rigorous value enhancement efforts, along with the management team and employees, MIRIVE has steadily expanded the scale of its business. The Company now boasts top-level auction success rates and volumes within the northern part of Greater Tokyo.

Mr. Megumi Kiyozuka, Head of Sunrise Japan said he believes the sale to MR Holdings is the optimal solution to support the further growth of MIRIVE.

Sunrise II remains committed in enhancing medium-to-long term corporate value at our portfolio companies.