24 February 2026 – AtoG Capital Inc. (hereinafter “AtoG”; head office: Chiyoda-ku, Tokyo; Representative Director: Masahiko Otsuki), a wholly-owned subsidiary of Nihon M&A Center Holdings Inc. (head office: Chiyoda-ku, Tokyo; President and Representative Director: Suguru Miyake) hereby announces that it has concluded an agreement with Yamazen Corporation (hereinafter “Yamazen”; head office: Osaka City, Osaka Prefecture; President and Representative Director: Koji Kishida) to transfer shares of CK Mac Global Sdn. Bhd. (hereinafter “CK Mac”; head office: Malaysia) to Yamazen.
The shares were held by AtoG Fund I, a private equity fund managed by AtoG. Upon completion of the transaction, CK Mac will become part of the Yamazen Group.
Background and Overview
AtoG was established with a clear mission of supporting the expansion of Japanese companies into the ASEAN region and facilitating cross-border M&A involving small and medium-sized enterprises (SMEs) in developing markets. Acting as a bridge between Japanese corporates and ASEAN SMEs, AtoG focuses on addressing governance, compliance, and management challenges to ensure smooth and sustainable cross-border transactions.
Driven by this objective, AtoG invests in high-potential ASEAN SMEs and strives to enhance their corporate value.
CK Mac is a top-tier industrial machinery trading company in Malaysia, with more than 40 years of operating history and strong presence in local communities. AtoG invested in CK Mac in October 2024 through AtoG Fund I and has since supported a series of valuecreation initiatives aimed at strengthening the company’s operational and corporate governance foundations.
Following the investment, AtoG undertook a group reorganization by integrating eight previously separate operating entities (hereinafter the “former CK Mac Group”) into a unified corporate structure, including business transfers and shareholder restructuring. In addition, AtoG supported management reinvestment to ensure business continuity and implemented a more systematic management framework, including enhancements to internal management processes, accounting systems, and group governance processes.
Through these initiatives, AtoG worked alongside CK Mac’s management team to establish a governance and operational structure suitable for long-term growth and for integration with a strategic partner.
Strategic Rationale
The Yamazen Group possesses a high level of expertise and a solid business foundation in industrial machinery and related fields. AtoG believes that the combination of Yamazen’s global capabilities and CK Mac’s established local platform will create meaningful synergies and contribute to the continued growth and development of both companies.
This transaction represents a successful outcome of AtoG’s investment strategy, which focuses on value creation through corporate governance enhancement and operational improvement, followed by a transition to a strategic buyer positioned to support the next stage of growth.
Overview of the Fund Management Company
Company name: AtoG Capital Inc.
Representative Director: Masahiko Otsuki
Address: 1-8-2 Marunouchi, Chiyoda-ku, Tokyo
Established: December 7, 2023
Capital: 50 million yen
Capital contribution ratio: Nihon M&A Center Holdings Inc. (100%)
Overview of Fund I
Name: AtoG Fund I
General partner: AtoG Capital Inc.
Limited partners: Nihon M&A Center Holdings Inc. and Japanese financial institutions
Established: September 20, 2024
Investment target: SMEs in ASEAN countries such as Singapore, Malaysia, Vietnam, Thailand, and Indonesia
Overview of Investment Target
Company name: CK Mac Global Sdn. Bhd.
Head office: Malaysia
Established: 2014
Business contents: Wholesaling and maintenance service of industrial machinery
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