Japan's Fuji Soft in talks over possible private equity buyouts

TOKYO (Reuters) - Japan software developer Fuji Soft has been in talks with private equity firms over potential buyouts as part of a strategic review prompted by its top shareholder, the company said on Friday.

The Yokohama-based company received buyout proposals from multiple private equity firms last September, Fuji Soft's statement said, adding that the proposals were in response to requests from Fuji Soft's biggest investor, 3D Investment Partners, and not something the company requested.

Fuji Soft has since launched a special committee of six independent board directors for its discussions with the private equity firms, the company said.

The statement also said Fuji Soft will examine various options to maximise the value of the company and that the ongoing review is not based on the presumption that it would be taken private.

According to latest large share ownership reports, Singapore-based 3D owns 21.45% of the $2.9 billion company while U.S. hedge fund Farallon Capital Management holds 8.66%.

3D had two nominees appointed to the Fuji Soft board in a proxy fight in 2022, saying existing outside directors failed to address years of inefficient capital allocation.

(Reporting by Makiko Yamazaki; Editing by David Goodman)

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