UK-based investment fund CVC Capital Partners is set to buy a Japanese company that offers tutoring and other educational services.
Sources say CVC is in final talks to acquire all the shares of Try Group. The deal would likely cost more than 100 billion yen, or 880 million dollars.
Try Group has a network of tutors and personal-coaching schools around Japan and is a major player in the industry. In the year through May 2020 it had more than 360 million dollars in revenue.
Try Group uses tutoring methods based on artificial intelligence and other digital technologies.
It is apparently seeking support from a foreign fund to navigate a changing business climate due to the coronavirus pandemic and Japan's falling birth rate.
Meanwhile, CVC also recently acquired a personal-care business from Japan's leading cosmetics firm, Shiseido. And in April, CVC made a buyout proposal for the Japanese industrial giant Toshiba.