By Kosaku Narioka
KKR & Co. agreed to buy accounting-software business Yayoi from Japan's Orix Corp.
KKR said Friday that it would help Yayoi shift to the next phase of growth and enhance its work to meet the needs of Japanese small and medium-sized enterprises seeking accounting services.
Orix didn't disclose the selling price for Yayoi, citing a confidentiality agreement.
Japanese business daily Nikkei reported last week that Orix was set to sell Yayoi to KKR for about Y240 billion ($2.11 billion).
Orix said Friday that it would book a Y163.2 billion gain from the sale of the business, which is expected to be completed March 1.
Write to Kosaku Narioka at email@example.com
(END) Dow Jones Newswires