ＫＭ２，　Ｌ．Ｐ． Cuts Stake in 黒田グループ (287A) to 8.31% | Large Shareholding Report

A large shareholding report (EDINET filing) shows that KM2, L.P. has reduced its stake in Kuroda Group (287A) to 8.31%. The seller is an affiliated fund of KKR, a major U.S.-based private equity fund. Kuroda Group operates as a specialty trading company for electrical and electronic materials, with a dual business model that includes HDD component manufacturing. The company's trading business accounts for 75% of sales, selling electronic components and electrical materials primarily to the electronics and automotive industries, while building a global supply chain both domestically and internationally.

The sale carries an estimated proceeds of ¥20.25 billion. KM2's shareholding has declined by 55.43 percentage points from previous disclosures, and the fund remains a major shareholder at 8.31%. This substantial reduction in stake indicates a significant shift in the PE fund's investment strategy regarding the company.

*Speculation: Such staged stake reductions by U.S.-based PE funds often function as part of exit strategies calibrated to the maturity of portfolio companies. Given Kuroda Group's stable business foundation and market valuation, the fund may be progressing toward realizing investment returns from its holdings.