KKR Plans to Cut Its Stake in Kokusai Electric, Reuters Says (1)

KKR & Co. plans to sell about half of its stake in newly listed Kokusai Electric Corp. to secure returns from a rally that’s more than tripled the Japanese chip gear maker’s stock price.

Private equity firm KKR plans to sell the shares to investors, and Kokusai will buy back those shares in the market, Reuters said, citing a person familiar with the matter. KKR holds around 43% of Kokusai Electric, Reuters said.

Shares in the maker of film deposition equipment have soared since they debuted in October, thanks in part to surging investor interest in chipmaking as a means ...