Taiyo Pearl Fund Takes Significant Stake in Nippon Ceramic Co., Ltd. (6929) to over 5%

TOKYO--(Business Wire)--
The Taiyo Pearl Fund announced today that it has accumulated a position in
excess of 5% in Nippon Ceramic Co., Ltd. (6929) ("Nicera") to become its third
largest shareholder. The Taiyo Pearl Fund is known for its cooperative
investment style working with senior management to enhance shareholder value.

Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific
Partners, said, "Nicera is a global leader in infrared and ultrasonic sensors
and we believe that the role of sensors will only increase in importance in the
future. Taiyo has been invested in Nicera for nearly 5 years and we are
increasing our position now as part of our sensor sector investment focus. This
complements a recent small private equity investment we made in an unlisted
thermistor manufacturer. We have been impressed by Nicera`s commitment to
developing new applications for sensors such as security, auto safety, and
energy-efficient air conditioning units, as well as products that could target
the hybrid/electric car market. The most exciting years for Nicera lie ahead and
we are confident management will continue to create shareholder value."

Wilbur L. Ross, CEO of WL Ross & Co., added, "The more we learn about Nippon
Ceramic, the more convinced we become of the long-term growth prospects for its
sensors, despite the present slow down."

Mr. Yoshiharu Taniguchi, President and CEO of Nicera commented, "We greatly
appreciate that Taiyo, a long-term friendly investor, highly values our company.
We believe our sensor technology can be applied worldwide to enhance security,
safety, comfort and eco-friendly convenience for everyone. We look forward to
working further with Taiyo."

Taiyo Pacific Partners is a pioneer of friendly, activist investing in Japan.
The Taiyo Pearl Fund is the second of three funds managed by Taiyo Pacific
Partners and was launched in October 2007 to achieve significant outperformance
by investing in publicly listed, Japanese micro-cap companies and private
Japanese companies. Taiyo`s first fund, the Taiyo Fund is co-managed with WL
Ross & Co. LLC, and was organized in July 2003 with an initial equity investment
of $200 million by CalPERS, the State of California Public Employees Retirement
System. Wilbur L. Ross also serves as an investment committee member of the
Taiyo Pearl Fund. Taiyo Pacific Partners currently runs three funds with a total
of over $1.7 billion under management. Taiyo Pacific Partners, located in
Monterey, California, was founded by bilingual professionals dedicated to
friendly shareholder activism in Japan.

Taiyo Pacific Partners
Brian K. Heywood, 831-372-9601
bheywood@tppllc.com
or
Wilbur L. Ross, 212-826-2111
wlross@wlross.com

Copyright Business Wire 2009