Sumitomo Corporation has sold a share in Jupiter Shop Channel to Bain Capital Group.
Bain Capital Group has acquired 50 per cent stake in the Japanese TV shopping company for about 100 billion yen (US$1.3 billion).
Jupiter has consistently increased its revenues since its founding in 1996 to now hold a 30 per cent share of the domestic TV shopping market.
Sumitomo has worked to increase the corporate value of Jupiter Shop Channel by facilitating expansion into China and other parts of Asia. Bain’s investment will help strengthen these efforts.
Bain Capital, with operations centered in North America, Europe, and Asia, is a private equity company, with over US$60 billion assets under management worldwide.
Sumitomo will continue to place Jupiter Shop Channel at the core of its multi-channel retail strategy and strive to further increase the revenue base of its retail business with Jupiter Shop Channel as a primary contributor.
Jupiter Shop Channel offers items such as jewellery, cosmetics, home appliances and food through a 24 hours live broadcast.
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