TOKYO, June 22 U.S. private equity firm Bain
Capital will buy a 50 percent stake in Jupiter Shop Channel, a
television shopping company, for about 100 billion yen ($1.3
billion) in Japan's largest private equity transaction this
year, according to a person with direct knowledge of the firm.
Bain said it would buy Jupiter Shop Channel, a market
leader, from trading firm Sumitomo Corp, but it did not
disclose the price.
Bain is seen one of the most active foreign investment firms
based in Tokyo. Last year it bought restaurant chain Skylark
from an investment arm of Nomura Holdings. Bain also
owns the Domino's Pizza franchise in Japan.
Bain Capital has succeeded in buying a business from a
Japanese firm at a time private equity firms are having a hard
time securing new deals in Japan.
Jupiter Shop Channel offers items from jewellery and
cosmetics to home appliances and food through an
Sumitomo said in a separate statement it aims to expand its
TV shopping business in China and other Asian emerging markets
by tying up with Boston-based Bain.