KKR Nears Deal to Acquire Japan’s Topcon, Shares Hit Record High

Shares of Japan’s Topcon Corp (TYO:7732) surged to an all-time high on Thursday following reports that U.S. private equity giant KKR & Co (NYSE:KKR) is close to acquiring the medical equipment maker. The stock rose 1.6% to 3,018.0 yen as of 03:12 GMT, marking its highest level ever.

According to Reuters, which cited sources familiar with the matter, a deal could be finalized in the coming days if talks stay on course. While financial terms have not been disclosed, Topcon currently has a market capitalization of approximately 327.10 billion yen ($2.18 billion).

The potential acquisition highlights the increasing interest from global private equity firms in Japan. The country has become a hotbed for buyouts, driven by corporate governance reforms, a weaker yen, and growing shareholder activism.

Topcon, founded in 1932, specializes in eyecare technology, smart infrastructure solutions, and precision positioning products. The company has reportedly been working with advisers to explore a sale and has attracted interest from several bidders.

Notably, activist investors ValueAct Capital and Oasis Management hold sizable stakes in the company, reflecting its appeal to institutional investors focused on unlocking value.

This move by KKR would mark another significant private equity investment in Japan, underscoring the nation’s evolving corporate landscape and growing openness to foreign capital. As Japan continues to see a wave of restructuring and strategic shifts, more global players are expected to seek opportunities in its market.

The news has generated strong investor interest in Topcon stock, boosting both its visibility and valuation. With the final deal expected soon, market watchers are closely following developments that could reshape the company’s future.