Following last month’s $1.67 billion acquisition of Panasonic Corp.’s health care unit by KKR & Co., some are wondering if Japan Inc. is starting to cast off a longtime aversion to private equity.
“Many Japanese corporations have recognized that if they don’t sell noncore businesses, they will likely not survive,” says Ropes & Gray Tokyo partner Scott Jalowayski. “Foreign private equity can take the asset off of the books, add value, and ideally turn the businesses around. They are coming in to help.”
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