Bangkok--16 Oct--Asia Partnership Fund Group Asia Partnership Fund Group (APF Group) welcomes a new partner to its family following the acquisition of a 40% stake in Wedge Holdings Co., Ltd., a company listed on Hercules (Osaka Securities Exchange). The 180 million baht deal follows the successful recent acquisitions of Japanese traditional confectionary company Asuka Food Group and two Stock Exchange of Thailand (SET)-listed companies as United Securities PCL. and Group Lease PCL. Wedge Holdings Co., Ltd. is a leading-edge entertainment, animation, movie and music company with tremendous potential. It plans to enter the Thai market and use the country as a base to expand into South East Asia. APF Group has acquired Wedge Holdings Co., Ltd. ‘s stock which allocated to APF Group and their total value is 600 million yen or approximately 180 million baht (using the exchange rate of 100 yen per 29.98 baht as of September 28, 2007). This makes APF Group the major shareholder of Wedge Holdings Co., Ltd. with 40% of the stock. Wedge Holdings Co., Ltd. is active in every sector of the entertainment business, for example animation, movie, music, mobile phone content and the manufacturing and distributing of entertainment DVD. Wedge Holdings Co., Ltd. has around 100 employees with initial capital of 465,375,000 yen, but ASKA increased that to 769,140,900 yen after its acquisition. In 2006 there was total revenue of 3,277,380,000 yen and earnings before tax and interest of 92,316,000 yen resulting in a loss of 717,671,000 yen. The increased capital for Wedge Holdings Co., Ltd. (approximately 600 million yen or 180 million baht) will be used to invest in new content creation for animations, movies and music including recruiting skilled personnel. This is due to future business expansion which will require a budget of about 400 million yen (about 120 million baht). Another 200 million yen (60 million baht) will used to restructure the financial systems which should lessen the company’s debt load. APF Group has plans to make a complete entertainment business under the concept of Japanese culture complex with Thailand. For instance APF Group plans to introduce Wedge Holdings' Japanese products, such as animations, movies, games content and music, to Thailand and other South East Asian countries. The Group also plans to promote the best of Thai culture to Japan. The Group plans to provide valuable experience to Thailand's young generation of creative designers and animators through exhibitions.