KKR to Trim Stake in Soaring Kokusai Electric, Cashing in on Chip Boom: Report - KKR (NYSE:KKR)

　　KKR & Co. Inc. KKR reportedly intends to reduce its stake in Kokusai Electric, capitalizing on the strong performance of the Japanese chip equipment makers shares.

　　KKR, which currently owns about 43% of Kokusais shares, plans to sell approximately half of its stake to investors, reported Reuters.

　　Also Read: KKR Eyes $20B New North America Fund In Tough Market: Report

　　Kokusai will conduct a share buyback in the market. The report read that a 20% stake in Kokusai is valued at roughly $1.6 billion based on Mondays closing price.

　　Kokusai exemplifies Japans private equity trend as conglomerates shed non-core assets and firms move to private ownership.

　　Kokusai, which recorded sales of 181 billion yen ($1.12 billion) in the fiscal year ending March, targets sales of over 330 billion yen and an adjusted operating margin above 30% in the medium term, the report further added.

　　In 2019, KKR tried to sell Kokusai to a U.S. chip competitor, but the deal fell through due to regulatory hurdles in China.

　　KKR stock has gained around 90% in the last 12 months. Investors can gain exposure to the stock via FM Focus Equity ETFFMCX and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETFLBO.

　　Price Action: KKR shares closed lower by 0.95% at $105.07 on Monday.