Japan Telecom acquired by Ripplewood Holdings

Japan Telecom Holdings Co. Ltd and U.S.-based Ripplewood Holdings LLC have reached an agreement on the leveraged acquisition of Japan Telecom Co. Ltd by an affiliate of RHJ Industrial Partners - a Ripplewood fund dedicated to making investments in Japan.

Japan Telecom Holdings is a provider of fixed line services through its 100 percent owned subsidiary Japan Telecom and mobile services through its 45.1 percent interest in J-Phone Co. Ltd. Japan Telecom is expected to benefit from a strengthened corporate focus on aggressive growth in fixed line services for both the consumer and enterprise segments. Japan Telecom's senior managers will remain with the company.