TOKYO -- Japanese leasing company Orix has decided to sell its subsidiary software business Yayoi to U.S. investment fund KKR, Nikkei has learned. The sale price is estimated to be about 240 billion yen ($2.1 billion). Yayoi has about 60% of the market share in cloud accounting software for sole proprietors.
There is rising demand for cloud software that can be used on multiple devices and is automatically updated to the latest version, and this growth is reflected in the sale price.
