Bain plans $930m aid to save Tokyo business software provider
Summary
TOKYO -- Bain Capital is considering providing roughly 100 billion yen ($930 million) in assistance to embattled Japanese software developer Works Applications, Nikkei learned Friday. The company announced Friday that it would spin off the department in charge of human resources and payroll management platforms, which are used by over 1,000 major corporations. Works provides software for managing human resources and accounting, in addition to other products designed specifically for Japans business practices. Works Applications was listed on the Tokyo Stock Exchanges Jasdaq board until a management buyout with Polaris Capital Group in 2011. It hopes to get back on its feet with help from Bain, which managed to relist call center operator Bellsystem24 Holdings after acquiring it in 2015.