Asahi Security Co., Ltd. is a security services provider, whose business consists of cash management outsourcing services and electronic security services. Originally the proprietary security services provider for Daiei Group, one of the largest chain operators in Japan, Asahi now serves more than 3,700 clients.

Carlyle acquired Asahi Security from Daiei Group through a management buyout in February 2002. In the three years that Carlyle owned the company, Asahi Security built or expanded several business centers, increased the number of employees from 2,000 to 2,600 and doubled the number of customers, focusing mainly on business clients. Sales are forecasted to grow 31 percent to ¥21.5 billion by the year ending February 2005. The company's business consists of long-term accounts with major corporations, giving it predictable cash flow. "One of the things that drew us to Asahi is that the security services sector in Japan is ripe for consolidation," said Carlyle Japan's Haruyasu Asakura.

In January 2005, Toyota Industries agreed to acquire Carlyle's entire stake in Asahi Security Co. Ltd. Carlyle and all other shareholders will sell 100 percent of their shares for ¥19.5 billion.

Carlyle Founding Partner and Managing Director David M. Rubenstein said, "This investment into Asahi Security was Carlyle's first buyout in Japan. We believe this transaction raised the corporate value of Asahi Security and demonstrated both in Japan and abroad that private equity funds can successfully contribute to new business developments."