INTEGRAL

Kensaku Mizutani, a founding partner of Integral Corporation, has significant expertise in investment banking including M&A advisory and mezzanine investment. His experience has included working for a Japanese trading company, an investment bank, an independent M&A advisory firm, and an independent mezzanine fund.

Prior to founding Integral, Kensaku Mizutani worked for Mezzanine Corporation (MCo), a wholly-owned subsidiary of GCA Corporation, which was the first independent, full-fledged mezzanine fund (JPY68.7billion) in Japan in established in 2006. While with MCo, He executed 2 precedent-setting mezzanine investments , for which he was involved in sourcing, origination, structuring, and execution.

Prior to joining MCo, Kensaku Mizutani focused on M&A advisory for both domestic and cross-border M&A transactions. He advised on numerous deals through his positions at GCA and Morgan Stanley.

Prior to joining Morgan Stanley, Kensaku Mizutani worked for Mitsubishi Corporation as a member of the project finance department where he focused on the non-recourse financing of infrastructure / mineral resource projects, Official Development Assistance, Export Machinery Plant in developing countries.

＜Personal History＞
Bachelor’s Degree (1996) and a Master’s Degree (1998) in Technology and Science from Keio University
MBA (2006) in Financial Strategy from the International Corporate Strategy of Graduate School of Hitotsubashi University.
1998 Mitsubishi Corporation, Project Development Dept
2003 Mitsubishi Corporation, M&A Unit
2005 Morgan Stanley, Investment Banking Division
2006 GCA Corporation
2006 Mezzanine Corporation
Dec. 2007 Partner Integral Corporation

＜Other＞
Publications：
“Financial Characteristics of Companies Targeted for Hostile Takeover” Security Analysts Journal, December, 2006
“Common Brief for Mezzanine Finance”　Yearbook of Buy-outs in Japan 2007 JBORI Seminars：
Has given various seminars and lectures on Mezzanine Investments / Financing / Funds etc

Yoshihiro Hemmi, a founding partner, is one of Japan’s rare consultant turned CEO, with a distinguished track record in the two companies he led. He began his business career with a ten-year career at Mitsui & Co. in Japan and the U.S. He then spent eight years consulting companies as a partner at a global management consulting firm, engaging in projects in many industries, followed by eight years on the corporate side as the top manager of two companies, one a start-up and the other a turnaround, which he led to dynamic growth and value enhancements.

 

At Mitsui & Co., he began in domestic sales & marketing in the Chemicals Division, then was transferred to Mitsui & Co. USA to promote foreign direct investment in the U.S. and Canada. He participated in establishing and managing Mitsui’s joint ventures in the chemical/plastics sector with such firms as Mitsui Chemicals, Toyota Gosei, Union Carbide and Toyo Ink.

 

At Boston Consulting Group, he was engaged in a variety of project themes in the Tokyo and Chicago offices including strategy, organization design, marketing, sales, SCM, HRM, Japan market entry (by foreign companies) and global expansion (for Japanese companies). He covered many industrial sectors including food, apparel, retail, pharmaceutical, industrial (chemical and cement), logistics and IT.

 

At adidas Japan, he participated in the establishment of a new Japanese subsidiary as a top Japanese manager. He contributed to building the company from scratch, planning and executing new strategies in marketing, sales, product procurement, logistics, organization design, corporate culture building, HRM and new business development. Since its establishment in 1998, adidas Japan has significantly enhanced its brand image, and in 2006 sales surpassed the 100 billion yen mark.

 

As President & CEO at Tohato, he led the company’s effort to renew its corporate brand image, developing new hit products, building management systems, renewing the corporate culture and building a new management team. As a result, the company completed its revitalization under Japan’s Civil Rehabilitation Law (Japan’s version of Chapter 11) in three years, and significantly increased its corporate value.

 

BA Commercial Science, Keio University, MBA, Harvard Business School
1980 Mitsui & Co. Ltd.
1987 Mitsui & Co. USA, Inc.
1990 Boston Consulting Group Inc.
1998 Elected partner
1998 adidas Japan Inc., Vice President from 2001
2004 President & CEO, Tohato Inc.
Sept. 2007 Partner, Integral Corporation

 

Vice Chairman, New Business Creation Committee, Keizai Douyukai (2006)
Has given various seminars and lectures on business strategy, corporate revitalization, sports marketing and brand strategy

Reijiro Yamamoto, a founding Partner of Integral and GCA, has over 20 years of experience in investment banking activities including domestic and cross-border M&A, MBOs, LBOs, going-private transactions, debt-restructuring, workouts of multi-national insolvent companies and sales of non-performing loans in Japan, Europe and the US. He is extremely knowledgeable on deal financing issues, having arranged, structured, negotiated financing for numerous transactions.

Reijiro Yamamoto began his career with Mitsui Bank (the current Sumitomo Mitsui Banking Corporation (SMBC)) in 1984. In 1990, he joined AT Kearney as a management consultant in Chicago and subsequently, he moved to London in 1991, where he engaged in Sakura Bank’s (currently SMBC’s) structured finance. After 7+ years in London, he returned to Japan in 1998 and joined Sakura Bank’s Mergers and Acquisitions Department (currently SMBC’s M&A firm) where he was in charge of the cross-border M&A group. In 2000, he joined Unison Capital, one of the first buyout funds in Japan. When he was with Unison Capital, he played a key role in the success of Unison’s first fund. He provided advisory services to his portfolio companies often taking on the director role at the companies in which the fund invested.

While at GCA, he structured and closed the MBO of World Co., Ltd., the largest MBO in Japan and also led a lot of landmark M&A deals of Japan such as a US$19 billion worth merger between Hankyu and Hanshin railway companies. He was also an investment committee of Fund I of Mezzanine Corporation, a 100% subsidiary of GCA and the first independent Mezzanine investment firm in Japan.

Reijiro Yamamoto is a frequent speaker at seminars regarding M&A and buyouts at Waseda University, Hitotsubashi ICS and other forums. He received his MBA from the Wharton School at the University of Pennsylvania as well as a Masters from the Lauder Institute. He earned his undergraduate degree from Hitotsubashi University, where he majored in Economics.

Nobuo Sayama, a founding Partner of Integral and GCA, and potentially the most well-known investment banker in Japan, has over 20 years of experience in the investment banking and corporate turnarounds. He began his M&A career in 1987 with Mitsui Bank (currently Sumitomo Mitsui Bank) and led the M&A team’s domestic and cross-border efforts in New York from 1990 to 1995. During the recession years of the late 1990s, he dealt with distressed deals and is known for pioneering the sale of distressed companies in Japan. He has extensive experience in many significant high profile deals, healthy and distressed, domestic and cross-border. He is well-known for his negotiation technique and style and is well sought after as an advisor.

 

After a 10+ year career with Mitsui Bank, Nobuo Sayama jointly established Unison Capital as a representative director and partner. Unison Capital was one of the first Japanese buyout funds which specialized in corporate turnarounds, which at the time was a new concept in Japan. While at Unison, He and his team led the turnaround of Tohato, a well-known confectionary maker, and Kiriu, a car parts manufacturer. In May 2003, he became director of Global Corporate Advisory and then assumed the position as representative director at GCA in April 2004. Prior to his investment banking career, he worked for Teijin, a fibers manufacturer, as an engineer and was involved in manufacturing technology development for polymerization of polyester as well as new product R&D.

 

Recently, Nobuo Sayama advised Hankyu Holdings Inc. on its merger with Hanshin Electric Railway Co., which was the largest post-war private railway merger in Japan. One of his most famous transactions was Crown Leasing, a subsidiary of Nippon Credit Bank (the current Aozora Bank), which went bankrupt with debt of over 1 trillion yen in 1997, the largest debt in the history at that time. He sold the assets amounting to over 350 billion yen of domestic lease sales as well as overseas assets in a short 2-month time frame and concurrently disposed of other domestic and overseas assets. Concurrently, he pioneered the bulk-sale of non-performing loans through this transaction where he also sold approximately 300 billion yen in NPLs over a 3 month-period. His bulk-sale method became the foundation of bad debt bulk-sale in Japan. Additionally, he is well-known for his role in the Okura Shoji bankruptcy in 1998 where he divested the airplane segment and wine business in one month, which set a precedent for bankrupt companies in Japan.

 

Nobuo Sayama is recognized as an M&A expert in Japan and frequently appears on televised economic debates regarding recent corporate finance topics in Japan. He is a professor at post graduate International Corporate Strategy course at Hitotsubashi University. He is well published, with works including: “Economic Analysis by Financial Information,” “Japanese M&A Practice Course,” “The Revitalization Business and Methods,” “Legal Liquidation for Corporate Revitalization: Focusing on the New Corporate Rehabilitation Act,” “Textbook for Licensing Examination of Business Administration Study: Issues for Today’s Management” and “Pre-Packaged Business Revitalization.”

 

Nobuo Sayama received his MBA from the Stern School of Business in at NYU. He also completed a doctoral course at the department of Industrial Engineering and Management Tokyo Institute of Technology (Ph.D.). He earned his bachelors degree from Kyoto University, where he majored in Engineering.

 

Nobuo Sayama is a member of the Japanese Association of Turnaround Professionals (Executive Director), Japanese Association for Business Recovery, Japan Corporate Finance Association and The Japanese Association of Management Accounting. He has been a key member of various committees of the Ministry of Economy, Trade and Industry including the MBO committee and the pre-packaged filing committee.