U.S. private-equity firm Bain Capital LLC will purchase a Japanese firm operating hot-springs inns and bathhouses nationwide for around ¥50 billion, expecting it to profit from an increasing number of foreign tourists, a source said Friday.
Bain will acquire all shares in Ooedo-Onsen Holdings from its president and his family next month, the source said. President Hiroshi Hashimoto will retire from management.
Bain may also buy other hot-springs inns in rural Japanese areas and consider operating similar facilities abroad, the source said.
Ooedo-Onsen operates nearly 30 inns and bathhouses in Tokyo and other locations.
Bain purchased restaurant chain operator Skylark Co. in 2011 to restructure its business. Skylark managed to relist on the Tokyo Stock Exchange last October.
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