Northern, WI 04/11/2013 (usastockreport) – Hirofumi Hirano has been hired by KKR & Co. L.P (NYSE:KKR) (Closed: $20.20, Up by 3.06%) to head its operations in Japan. The 52-year-old Hirano was the former chairman of Nikko Principal Investments Japan Ltd and will become the Chief Executive Officer and managing director of the Japanese unit of the private equity firm that is based in New York. He will be taking over this role on 15 April. Prior to that, Hirano led the local businesses of AlixPartners LLP. The Japan unit of KKR took shape in 2006. Prime Minister Shinzo Abe has been catalyzing and easing monetary initiatives in the country in a major effort to boost business in Japan and lend support to investor sentiment.
Market condition conducive
KKR is in increasing its buy-out business in Japan and the current condition in the country is very conducive for this. The managing partner of KKR Asia, Joseph Bae said that the Hirano’s appointment is a significant step forward as the company is seeking to broaden its focus and increase its private-equity franchise. The 61-year-old Minoda who was the Chief Executive officer for six years in Japan will continue with maintaining KKR’ relationships with governments and clients said the firm’s co-founder Henry Kravis. This move is going to add impetus to all the initiatives that the company is undertaking at this point of time. Japan is an open market and making sound investments there right now ill create a stronger foundation for KKR in the Asian country.
After graduating from Keio University, in 1983, Hirano had joined Nikko Securities Co. In 2000, he joined Nikko Principal as president and then became the chairman in 2004. He led the firm’s investments of 720 $7.3 billion (720 yen) in various Japanese and U.K companies and reaped 850 billion yen from those investments. Hirano holds a business administration master’s degree from the University of Chicago.