Japan's Makino Milling Machine Manufacturing issued an announcement stating that due to national security considerations, the Japanese government has requested the Seoul-based private equity firm MBK Partnership Fund to cancel its original acquisition plan. Makino Seisakusho said in a statement issued by the Tokyo Stock Exchange that the Japanese government believes that machine tools are highly sensitive materials and can easily be diverted to military use. MBK Partnership Fund, co-founded by well-known Asian private equity giant Michael ByungJu Kim, reached an agreement to acquire this Japanese machine tool company last year. Japan's Foreign Exchange and Foreign Trade Law has classified the machine tool industry as a core industry. The original purpose of the bill was to prevent security risks such as the outflow of military technology and maintain the country's national security.

Japan's Makino Milling Machine Manufacturing issued an announcement stating that due to national security considerations, the Japanese government has requested the Seoul-based private equity firm MBK Partnership Fund to cancel its original acquisition plan. Makino Seisakusho said in a statement issued by the Tokyo Stock Exchange that the Japanese government believes that machine tools are highly sensitive materials and can easily be diverted to military use. MBK Partnership Fund, co-founded by well-known Asian private equity giant Michael ByungJu Kim, reached an agreement to acquire this Japanese machine tool company last year. Japan's Foreign Exchange and Foreign Trade Law has classified the machine tool industry as a core industry. The original purpose of the bill was to prevent security risks such as the outflow of military technology and maintain the country's national security.