Hitachi, Ltd. (TSE:6501) picked a group led by Bain Capital, LP as the preferential bidder for its metals unit Hitachi Metals, Ltd. (TSE:5486) in a deal likely to top JPY 800 billion ($7.3 billion), Nikkei reported. Bain, Japan Industrial Partners, Inc. and Japan Industrial Solutions, Ltd. are considering buying a 53% stake in Hitachi Metals, the financial daily said. Hitachi Metals recently announced it was buying U.S. software company GlobalLogic for $9.6 billion.

But in recent years it has also been divesting domestic hardware assets, including chemical and imaging businesses, aiming to pivot to services instead. A Hitachi representative was not immediately available for comment. The company previously said it was considering ways to bolster its corporate value.