Taiyo Pearl Fund Takes Significant Stake in Message Co., Ltd. (2400) to over 5%

TOKYO, Feb. 11 /PRNewswire/ -- The Taiyo Pearl Fund announced today that it has accumulated a position in excess of 5% in Message Co., Ltd. (2400) to become its fourth largest shareholder. The Taiyo Pearl Fund 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, "Elderly care in Japan is a rapidly growing market and Message is well positioned with the most number of rooms available and a solid reputation as the leading affordable housing and care provider. We believe that demand will continue to outstrip supply for this service and Message is poised to be one of the primary beneficiaries of this demographic trend."

Wilbur L. Ross, CEO of WL Ross & Co., added, "Japan is at the forefront of aging societies worldwide. As the largest nursing care service provider in Japan, Message can seize the opportunity to establish a global standard for elderly care in this attractive and critical sector."

Mr. Hiroshi Furue, President of Message commented, "We recognize that Taiyo is a friendly long term investor and we are honored to be among the many excellent companies in their portfolio. We will continue to manage in an open and transparent manner for all our shareholders and we look forward to working further with Taiyo."

Taiyo Pacific Partners is a pioneer of friendly, activist investing in Japan. The Taiyo Pearl Fund is the second of three funds managed by Taiyo Pacific Partners and was launched in October 2007 to achieve significant outperformance by investing in publicly listed, Japanese micro-cap companies and private Japanese companies. 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 by CalPERS, the State of California Public Employees Retirement System. Wilbur L. Ross also serves as an investment committee member of the Taiyo Pearl Fund. Taiyo Pacific Partners currently runs three funds with a total of over $1.7 billion under management. Taiyo Pacific Partners, located in Monterey, California, was founded by bilingual professionals dedicated to friendly shareholder activism in Japan.

SOURCE Taiyo Pearl Fund

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