Sweden’s EQT is buying a majority stake in a Japanese software startup specializing in human resource management, a rare attempt by a global private equity giant to boost returns through young enterprises in the Asian country.

EQT will own more than half of Tokyo-based HRBrain, while the startup’s founder Hiroki Hori will retain a significant minority stake in the company. The private equity firm did not disclose the transaction value or other details of the terms.

"It should be good for a startup to really have a chance at growing big while it’s still private,” said Tetsuro Onitsuka, a partner at EQT Partners Japan, in an interview. "I don’t think there’s a lot of that mentality in Japan yet. Our deal could serve as an example.”