• Oyatsu Company, Ltd. (Oyatsu) is a leading savoury snack manufacturer in Japan which produces the flagship ‘Baby Star’ ramen snack

  • The Carlyle Group (Carlyle) is a global investment firm which acquired a majority stake in Oyatsu in 2014 and has since enhanced Oyatsu’s management structure, governance and leadership team

  • Carlyle’s expertise has helped to accelerate Oyatsu’s global footprint across 14 international markets and increase sales by 25% (as of July 2022), since its original investment


  • DC Advisory (DC) leveraged its Asian consumer expertise to act as financial advisor to Carlyle, in its sale of its stake in Oyatsu to a fund operated by D Capital, Inc. (D Capital)


  • In December 2022, Carlyle sold its majority stake in Oyatsu to D Capital for an undisclosed value

  • D Capital will leverage the strengths cultivated since the founding of Oyatsu in order to pursue maximum growth potential