KKR taps $15bn Asian fund to buy Yayoi from Orix Corp

According to MM Research Institute and BCN, the Yayoi Series has been Japan’s number-one cloud accounting software for six consecutive years by number of users, and the number-one desktop business software for 22 consecutive years, with over 2.5 million registered users.

Hiro Hirano, co-head of private equity for KKR Asia Pacific and CEO of KKR Japan, said, “SMEs account for the vast majority of companies in Japan. Considering this, we are pleased to add Yayoi to our global portfolio of software providers, and excited to support this important sector of the Japanese economy as SMEs strive to enhance their operational efficiency by digitally transforming their businesses.

“We see a terrific opportunity to increase Yayoi’s penetration across Japan and look forward to promoting the company’s growth by leveraging our expertise in this segment.”

KKR’s previous accounting and business software investments focused on SMEs include MYOB in Australia, Exact in the Netherlands, Visma in Scandinavia and KiotViet in Vietnam.

The transaction is expected to be completed on March 1 next year.

KKR raised Asian Fund IV, the biggest private equity fund dedicated to the Asia-Pacific region, in April through a $15bn final close. The firm used the vehicle for the Yayoi deal.

The firm said KKR Asian Fund IV will pursue opportunities stemming from rising consumption and urbanisation trends, as well as corporate carve-outs, spin-offs, and consolidation as companies look to optimize their portfolios.

Source: Alt Assets