KKR to buy Japanese software developer from Orix

📆 12/17/2021 10:32 AM
📰 ChannelNewsAsia

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TOKYO : Japanese financial services group Orix Corp said on Friday it will sell software developer Yayoi Co to U.S. private equity firm KKR & Co Inc for an undisclosed amount.Orix, which bought Yayoi for more than 80 billion yen (US$705 million) in 2014, will complete the transaction in March and book a p

TOKYO : Japanese financial services group Orix Corp said on Friday it will sell software developer Yayoi Co to U.S. private equity firm KKR & Co Inc for an undisclosed amount.

Orix, which bought Yayoi for more than 80 billion yen in 2014, will complete the transaction in March and book a profit of 163.2 billion yen from the sale in the January-March quarter. Yayoi is a major financial and accounting software provider for Japanese small- and medium-sized firms, best known for its namesake accounting and tax filing software. It had sales of 21 billion yen in the financial year ended in September.

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