Stretch: Should a fund buy Tsukimine Precision, a parts maker with no successor?
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| Item | Value |
|---|---|
| Revenue today (JPY billion) | 12 |
| EBITDA margin today (%) | 12.5 |
| Asking enterprise value (JPY billion) | 9 |
| Debt available at entry (JPY billion) | 4.5 |
| Revenue in year 5 of the plan (JPY billion) | 14 |
| EBITDA margin in year 5 of the plan (%) | 15 |
| Debt at exit after paydown (JPY billion) | 2 |
| Expected exit multiple (EV/EBITDA) | 6 |
| Share of revenue from the largest customer (%) | 40 |
The prompt
Written case: a private-equity fund is considering buying Tsukimine Precision, a family-owned maker of precision metal parts in central Japan. Using the data pack below, prepare three slides: is the deal attractive at the asking price, what are the main risks, and what should the fund offer? Money figures are in JPY billion.
Difficulty: Stretch. Format: written case, with a data pack. Industry: Private equity and manufacturing. Region: Japan. Interview length: about 45 minutes. The company is fictional and all figures are illustrative. In a written case you usually get 30 to 60 minutes with a data pack, then present your slides and answer questions.
Practice with a partner
1. Send the interviewer link to a friend. They read the case aloud and hold the answers.
2. You open the candidate view: you see only the prompt, a timer and a notes box.
3. Speak the case out loud. Your partner shares data when you ask, then scores you with the rubric.
Interviewer view
For the person running the case
Candidate view
For the person answering the case
The exhibit
| Item | Value |
|---|---|
| Revenue today (JPY billion) | 12 |
| EBITDA margin today (%) | 12.5 |
| Asking enterprise value (JPY billion) | 9 |
| Debt available at entry (JPY billion) | 4.5 |
| Revenue in year 5 of the plan (JPY billion) | 14 |
| EBITDA margin in year 5 of the plan (%) | 15 |
| Debt at exit after paydown (JPY billion) | 2 |
| Expected exit multiple (EV/EBITDA) | 6 |
| Share of revenue from the largest customer (%) | 40 |
My notes on this case
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